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Entrepreneur Year Book 2012 > BFSI > POSIDEX TECHNOLOGIES P LTD

POSIDEX TECHNOLOGIES P LTD

POSIDEX TECHNOLOGIES P LTD
About Company:
Posidex technologies is established in 2003 and is headquartered at Hyderabad , india. Posidx Technologies develops software products solutions and offer services, in thae domain of Entity resolution and Analytics. Posidex’s products and solutions helps enterprises in their operations, risk and compliance and data quality management. Posidex’s clients are spread across various verticals from BFSI to government and are among large data depositories in india in their respective domains.
Key Team:
Mr. Bhavanishanker Chitoor,
( Co-Founder & CEO )
Mr.G Venugopal
( Co founder & Director)
Mr.Venkat Reddy
( Co founder &CTO )
Founded:
2003
OFFICES:
Hyderabad
Clients where the product is implemented:
ICICI bank, Axis bank, HDFC limited , ICICI prudential Mutual Fund,Dhanalaxmi Bank, Reliance Consumer Finance, ICICI prudential life insurance,tata Motor finance , A P State Civil Supplies Department , Bajaj Finance Service, Income Tax Department, Airtel ,CDSL, ICICI Lombard Gen Insurance, L & T Finance, TVS Credit Services, Mahindra Finance.
Website:
Accolades & Achievements:
Special Recognition for innovation posidex Technologies for Prime Match Data Quality System
Income Tax Department wins the Prime ministers award for excellence in public administration for the implementation of ITDMS. A solution developed by posidex
Nominated for 2009 PC Quest Best IT implementation

NASSCOM 2009 Finalist Market Facing Innoval.

INDUSTRY REQUIREMENTS
For organization in BFSI Sector, Complying with stringent statutory regulations on KYC/ AML, comprehensive check on customer risk profile , ability to identify new customers to sell their products and service the existing customers better than the competitors is the need of the hour.
• Single view of customer
Many of the banks and financial institutions have distinct business units to handle retail loans each catering to a different product.Each of these units have multiple channels of customer acquisition and operate independently without knowing the overall customer exposure.They may end up in giving multiple loans to the same customer or giving loans to the customer rejected at one pos at spme other POS.
• Knows your customer
The most important component of KYC is matching against a number of negative list. As different business units approach the same customer through multiple channels, repetitive customer data created a huge data quality problem for meeting the requirement of matching against negative lists.
• Anti money laundering
Is the due diligence required to be carried out by BFSI organizations particularly with regard to the cross border transactions.
• Data for BI and Analytics
Most of CFSI Organizations use BI analytics and credit scoring extensively for streamlining business operations.
• Cross sell/up sell
Business and operations and operations teams undertake customer profiling and cross/up selling opportunitiesby matching with different lists to increase the business and acquire new customers
Solutions from POSIDEX:
The posidex has built solutions based on its proprietary primeMatch & setmatch data management suite (PDMS) to address the pain point of the customer in all the above areas.Traditional identity resolution techniques like fuzzy logics based on simple phonetics and match codes employed or embedded in numerous core banking products act on theitr own databases and are not designed to work across multiple CAS. The solutions helps the banks to create a centralized repository of the customer from across all the CAS databases to know the overall customer exposure and single view of the customer which can help the credit risk manager of each of the retail unit to take a sound decision. The solutions also address the aissues of KYC, AML, Data quality and up sell efficiently.
About Product:
Primematch data management suite (PDMS) is a enterprise product suite that provides comprehensive functionality for data management for the purpose of customer data integration (CDI), Data quality improvements, Master data managemetnt (MDM) etc on data spread across multiple source systems.

It uses innovative search technology for identity resolution and entity analytics,providing the benefits of scalability to millions of records with great accuracy. It delivers the highest possible reliability when searching or grouping data based on names, addresses,descriptions, and other parameters of identification inspite of errors and variations in each parameter . Posidex has built advanced solutions such has generating a complete profile of the entity ( single view of the customer ), Deductive linking, Group exposure, House holding and customer segmentation etc. PDMS paves way for an efficient data warehouse and strong foundation for effective business intelligence(BI)

Thanks to primeMatch & setMatch many business processes which have been earlier considered time consuming or impossible are being easily managed using the existing infrastructure in a very cost effective way.