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CIO Review >> Magazine >> August - 2013 issue

Agile Financial Technologies: Providing Agility for Business Operations


Company:Agile Financial Technologies (Agile FT)
Founder:Kalpesh Desai,CEO
Description: An enterprise software products and services provider focused on the banking, financial services and insurance sectors.

The IT spending in BFSI vertical is expected to reach $3.5 billion by fiscal year 2014 growing at a CAGR of 13 percent, reports Zinnov. However, economies are in a state of flux and we live in unpredictable times. Banks have discovered that traditional sources of income are reducing and they have to identify new sources of fee income. Agile FT (Agile Financial Technologies), an enterprise software products and services provider focused on the Banking, Financial Services and Insurance sectors; recognized this as early as 2008 and identified, acquired or built offerings in these areas. The company also have a host of service offerings that include Infrastructure Management, Consulting, System Integration and Software Development.

Their solutions enable the revenue generating capabilities of their customers who are the largest banks, asset managers and insurance companies in the geographies they operate in. Agile FT’s products have received various accolades too. Agilis Investment Management was recognized by World Finance (UK) as the Best Asset Management Software in the M.E. in 2011. SME-Advisors in the M.E. awarded the company the Star of Business Award in 2012 which goes to show their exemplary strategic focus and execution.

"Since our customers are in the financial services sector, which are heavily regulated, we need to ensure compliance and availability of all the statutory and regulatory reports that are desired by our customers. We enable our channel partners by training them extensively on the implementation and support processes surrounding our software and equip them with the capability to cater to the ever changing regulatory requirements of those countries. This strategy has given us the agility to operate in, enter and penetrate new markets quickly," says Kalpesh Desai, CEO, Agile FT.

The company ensures that the technology they provide not only automates the core functions of their customers business lines but also allows them to extend their business operations over the web and with mobile apps, to all their constituents - field force, agents, brokers and customers through their product stack. This provides them with the ability to expand their operations without any incremental increase in cost. The company has recently introduced mobile apps that would allow their insurance agents to automate their mobile field force and agents and provide a 360 degree sales and service capability to serve customers in over 20 countries.

Today, Agile FT serves customers across 20+ countries in South and Southeast Asia, Middle East, Africa and the Caribbean. Their strategy has been to identify emerging and frontier markets to venture into and in developed markets, identify emerging opportunities in countries like Central & Eastern Europe and Latin America. Deriving it’s core strategy after extensive and continuous research, the core focus of Agile FT will remain on enhancing the core functionality of their already strong product offering in insurance, investment management and capital markets, lending and bancassurance.