Amb Lenain says French companies are committed to investing and innovating in India
Paris-headquartered Sopra Banking Software (SBS), a global leader in banking and specialised finance software company, has announced its ambitious plan to strengthen its footprint and increase the overall investment in India.
Emmanuel Lenain, Ambassador of France to India, remarked, “French companies are committed to investing and innovating in India. They appreciate the huge opportunities offered by the country, its incomparable talent pool, and its promising market which receives strong support from both the governments.”
The organisation is focused in making finance accessible to as many people as possible and thus build a better future. Sopra Banking expanded its presence in India in 2019 with a focus on R&D and innovation centre and is now a strong family with 1,000+ colleagues.
“Our teams have done a tremendous job in scaling our business across different locations throughout the world. With that foundation, we are ready to make our next move as a global fintech solution provider and this decision of increasing headcounts in India is a strategic and exciting step forward,” said SBS CEO Eric Bierry.
He announced that the Group aims to increase the overall headcount to 12,000 over the next three years across both Sopra Banking Software India and Sopra Steria India.
Bierry said on 26 April 2022 following the announcement, “Our teams have done a tremendous job in scaling our business across different locations throughout the world. With that foundation, we are ready to make our next move as a global fintech solution provider and this decision of increasing headcounts in India is a strategic and exciting step forward.”
“Our people are at the core of our business, and we’re committed to creating an environment in which they can thrive. Reflecting on the company’s expansion plans in India,” said Sunil Goyal, CEO of Sopra Banking Software India, and Deputy CEO of Sopra Steria India.
“We are also coming up with a huge state-of-the-art campus in Noida, which shows our commitment towards our people. Despite the COVID-19 crisis, we have maintained strong growth and our plans for India is another step in our global strategy to accelerate business opportunities locally and globally.”
Since Sopra Banking’s inception in 2012, the revenue has increased from Euro 171 million euros to nearly half a billion. The organisation has evolved from a France-centric provider to a global one and has expanded its services to include cloud technology and an open banking platform.
India has emerged as a popular destination for FinTech companies because of the digital push that led to high digital adoption among consumers as well as SMEs. Moreover, the continuing government efforts to formalise and digitise the economy have led to a plethora of opportunities for FinTech players.
“While most industries and sectors saw major setbacks during the Covid-19 pandemic, the FinTech industry has benefited from a second push towards digitisation with all operations and transactions happening virtually,” elaborated Lalit Tyagi, Head R&D Sopra Banking Software India.
Sopra Banking Software is the partner of choice for more than 1,500 financial institutions worldwide. The rich variety of our solutions, the strength of our conviction, and our passion for innovation enable us to support our clients on a daily basis and in their future projects, as well as in their goals regarding financial inclusion. Our customers, based in over 80 countries around the world, benefit every day from our technologies and software, as well as the expertise of our 5,000 employees.
Sopra Banking Software is a subsidiary of the Sopra Steria Group, a European leader in consulting, digital services, and software development. With more than 47,000 employees, the Sopra Steria Group generated a turnover of €4.7 billion in 2021. For more information, follow us on LinkedIn, Twitter & Instagram or visit www.soprabanking.com
Business France is the national agency supporting the international development of the French economy, responsible for fostering export growth by French businesses, as well as promoting and facilitating international investment in France. It promotes France’s companies, business image and nationwide attractiveness as an investment location, and runs the VIE international internship programme. Business France has 1,500 personnel, both in France and in 55 countries throughout the world, who work with a network of partners.
A Coffee Connect meet was organised at the Embassy of France in India in association with Business France India for the announcement on 26 April 2022. fiinews.com
