point
Menu
Browse by year:

Agile Financial Technologies: Equipping the BFSI Landscape with Cutting Edge Enterprise Systems

Anamika Sahu
Thursday, January 8, 2015
Anamika Sahu
Technology has stopped becoming a luxury and is an absolute necessity for most businesses, and enterprises that do not invest in enterprise systems to automate their processes end up realizing that their processes reflect on how their customers and associates regard them. The case is no different with the age-old BFSI (Banking, Financial Services & Insurance) sector. Though the industry was an early adopter of technology, regulators have been constantly forcing their hand to use current technology and deploy enterprise systems that ensure capital adequacy, effective risk and compliance management and transparent reporting to their stake holders. Evolving regulatory reforms have forced financial institutions in the recent years to replace their existing systems and deploy world-class applications that not only serve their need to acquire new customers and manage increasing volumes, but also have strong mid and back office capabilities to manage risk, compliance and regulatory reporting. In areas such as wealth management and bancassurance, two areas that are becoming significant fee-income generating divisions of banks, a lot of institutions till recently have been relying on archaic tools such as spreadsheets to provide effective reporting.

India's BFSI sector has made rapid strides in reforming and aligning itself with this new competitive business environment. However, technology has made people crave for services on-the-go. Though few banks and financial institutions are turning towards effective use of technology to provide the best customer experience, the secret lies in making this experience hassle-free through the blend of technology and traditional service. While few financial institutions and banks are slow to adopt new technology, the mantra lies in partnering with the right technology providers who deploy cutting-edge technologies optimally and help them leverage the same to the maximum extent. But with the market filled with numbers of technology solution providers, the BFSI industry faces a predicament to find the 'One'. While the riddle remains unsolved, one company has made impressive strides in this space since its inception in 2008. This is no other than Agile Financial Technologies - a global enterprise software product company focused on the banking, financial services and insurance sector.

"As businesses mature and new channels of customer acquisition and management emerge, such as social media and mobility, institutions are forced to look at replacement of their systems in many of the emerging markets we serve. Hence, it is not only the growth in GDP or economic growth that is driving the demand for financial technology, it is these factors today taking the BFSI sector a new way," says Kalpesh Desai, CEO, Agile FT. With offices in New York, Dubai and development center in India, Agile FT serves leading banks, asset management companies, financial services firms and insurers in over 20 countries today. In a very short span of time, the company has been able to attain market leadership in emerging markets such as Africa, Middle East, APAC & recently in Latin America in the insurance and investment management sectors.

The Vanguard of Agile FT

Known for his penchant for perfection, Kalpesh has over 25 years of experience as a techno-commercial executive who today leads Agile FT from the front and drives himself and his teams. True to its name, Agile FT and its vanguard provides unparalleled and agile financial technology, products and solutions to the BFSI segment. Agile FT took on a process of 'build and buy' in its formative years to put together a comprehensive product portfolio that includes core insurance, bancassurance, wealth and fund management, and lending solutions. Agile FT acquired the intellectual property for it's core Non-Life software and lending products and proceeded to invest in building the rest of its product stack. Today, it is the only software product company of its size that can offer a comprehensive offering, known as the Agilis Insurance Suite, to the insurance sector servicing Life, Non-life, Pensions, Health and Takaful (Islamic) insurance companies. Agile FT's award winning products also include Agilis Investment Management (wealth, fund and private banking management) and Agilis Lending Suite.


Share on Twitter
Share on LinkedIn
Share on facebook