3i Infotechâs BPO services, fully integrated with its asset and mutual funds management solutions - that enjoy upto 60 per cent market share in some countries - will target fund accounting service in the Middle East and African mutual funds sector with over 600 operating funds. The sector is estimated to triple its Asset Under Management by 2010.
âTo service the capacity requirement of this high growth industry, our BPO services will complement our powerful suite of solutions in the Banking, Insurance and Capital Markets sectors,â said Kalpesh Desai, Chief Operating Officer, 3i Infotech, Europe, Middle East & Africa. âWe aim to provide customers a unique proposition of using our own products that are tried and tested regionally, to dramatically cut down time to market and deliver on customer service.â
3i Infotech is perhaps the only IT player with both software knowledge and experience in asset management fund accounting - handling huge volumes and complex transactions for global banks that involve various types of securities and services customers like Bahrain Pension Fund Commission, Credit Suisse, Barclays, Citi Group, Lloyds TSB, DSP- Merrill Lynch Investment, ING Asset Management, Deutsche Bank, First Gulf Bank, Prudential Unit Trust, in Western Europe, the Middle East and Asia.
âRegional funds and fund managers will now be able to focus more on their core business competencies while benefiting from our unique remote support services that enhance profits and lower cost per transaction,â added Desai.
3i Infotech has been supporting MEFTEC for three years now and is also promoting its comprehensive range of banking and financial solutions including Kastle, AMLOCK, MFund suite, iBOSS and Premia at the event.
3i Infotechâs BPO initiative is targeted towards Asset Management and Fund Administration companies. The BPO offering includes services for Shares, Bonds, Mutual Funds; transaction processing services for managing fixed deposits, depository and securitisation; specialised process offerings covering front office (example Investor Relations Centers), e-mail management, and funds management & transfer and support services such as document imaging and workflow management; data transcription, reconciliation; accounting and MIS; and print shop, document storage.