Mirjankar sees opportunities globally
Mumbai’s Infrasoft Technologies Ltd (InfrasoftTech) is expanding further into the global markets with the launch of mixed reality channel within its Kiya.ai Omnichannel and Open Banking.
Kiya.ai, a first Indian company’s futuristic virtual mixed reality technology within the Banking and Financial Services Sector, was launched at the Singapore Fintech Festival 2019 held 11-15 November.
Already well placed with 500 bank customers in 54 countries, including 300 banks in India, InfrasoftTech next phase growth strategy is backed by its latest artificial intelligence product, Kiya.ai and Univius RegTech for early detection of potential frauds in banks, said managing director and chief executive officer, Rajesh Mirjankar.
It is further expanding globally by participating in the banking markets of the Caribbean and Bahamas while focusing on opportunities in Europe, Japan and South Korea.
These products are designed out of Mumbai office for the global banks facing razor sharp competition in managing speed and ease of transactions while monitoring frauds in fast paced network of financial industries, he explained, outdoing skills of majors in the FinTech world.
Mirjankar sees Indian banks stabilizing by resolving the non-performing assets and related issues and adds that InfrasoftTech has learned from the experiences of these banks which have been incorporated in new FinTech solutions for banking sectors in the Middle East, South East Asia, Africa, Latin America and other emerging markets.
Indian banks are not the only one hit by NPA issues, banks in other markets have also been hit by frauds, almost all of which are now detected by the advance technologies, the FinTech expert pointed out.
The ailing banks will further improve when the Reserve Bank of India (RBI) makes it mandatory for all banks to install anti-fraud systems, he believes.
“We have automated 42 scenarios and guidelines under Univius for our customers,” said Mirjankar, adding that the 42 scenarios were identified by RBI in January last year as early warning signals to prevent frauds in the banking sector.
With such highly advanced solutions and products, InfrasoftTech has proved that Indian FinTechs are ahead in global competition, said Mirjankar, adding that over 10% of the company’s revenue is invested in research and development of products.
The privately-owned Mumbai-headquartered company reports overall product CAGR of 28% and some 56 per cent revenue from international markets. fiinews