Mobile, A Game Changer In Banking

by Poonam Mondal    Jun 23, 2016

Sunder

The Financial industry is complex and constantly evolving. Banks are now passing through the rough trough of digital transformation. While moving from legacy system to digital phase, banks poses compatible issues within different operating systems and this has greater effect on the bank’s operating expenditure (OPEX). i-exceed Technology Solutions, is an IT Services Company focusing on global IT products and services market. Mind tree has recently partnered with i-exceed to deploy core banking transformation services. 

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App zillion, i-exceed’s proprietary Mobile App Development Platform (MADP) helps banks in making this digital transformation simple, less expensive and thereby, reducing operation time and resources. With better integration, a bank can provide unified approach and better user interface. Appzillon, provides readymade channel solutions for the banking industry. These solutions leverage on i-exceed’s banking industry experience spanning three decades. With the solutions ready for deployment, a bank can jump start their digital initiatives with little or no time lost in development. In a candid conversation CXO Today, Director, i-exceed Technology Solutions shares how banking industry is transforming at an alarming rate to serve customers 24×7.

Excerpt

What is the current trend of the banking sector?

The current trend in the banking sector is how to fulfil banking needs of customers through mobile usage. This includes from opening a bank account, guiding in online transaction no matter where the user is operating from. Mobility is what banking sector is looking to deliver to the customers. 

What are the challenges in the banking sector?

Whenever a bank open up services, it aims that it should be accessible, applicable in mobile devices of customer 24X7. All the banking needs should catered properly by the bank 24X7. For e.g.: if a customer applys  for a loan, in order to pass it or to make transfer or payment, the bank need to have 24X7 accessibility. Providing such technology in  enabling  features in customer’s devices is what the real challenge . That’s what banks are keen in addressing.

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Who has partnered with i-exceeds to avail the mobility solutions?

In addition to Mindtree, we have partnered with Wipro and other SI partners. We are now working with large financial institutions both in India and abroad in enabling banks’ mobility solutions. The partnerships are all strategic partnership, where we provide mobile technology platform. This also helps us to know how the large SI organisation bring in customer relationships, banking clients, and also teach domain expertise.

 What is the expansion plan of i-exceed?

We have around 35 clients overall, with about 10 clients in India and rest abroad. We are here expanding into South-East Asian market like Singapore, Malaysia, Philippines, Vietnam, Indonesia and also have plans to expand in Europe.

How is the sale procedure of i-exceed?

The SI partners and the technology partners who already have a relationship with banks, we go through them to sale our product and solutions. In addition, there are specific clients we go to and sale it to them directly. So we have both the combination of direct sales and through the partners sale.

Where do you want to see i-exceed in 2020?

As far as the profitability margin is concerned, we expect to have 30 - 35 per cent of the margin. And where cliental reach is concerned, we expect to have at least 200+ clients in around 40+ countriesbecause product wise we will be growing about 70-80 per cent year on year.

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