The person behind the hugely successful Finacle platform aims to return control to global banks during uncertain times
SunTec Business Solutions, a leading provider of customer experience orchestration technology, today announced the hire of Infosys senior executive, Amit Dua as the new Global Head of SunTec’s Client Facing Group. Based in London, Dua has over 20 years of experience in the Banking, Financial Services and Insurance (BFSI) domain. At Infosys, he was instrumental in expanding Finacle’s footprint to support 848 million customers worldwide. Dua was also responsible for doubling its revenues across Europe, Middle East and Africa (EMEA) within three years.
SunTec CEO Nanda Kumar announced the hire as part of his plans to continue the company’s dominance in the revenue management space. Amit Dua’s appointment from a major rival is a sign of intent from SunTec to acquire market share for its technology during these challenging times for the financial services industry in the face of increased customer expectations and regulatory pressures.
In the next five years, the global banking industry will undergo a series of tremendous change. From its experience working with leading banks such as HSBC, ING and Mashreq Bank, SunTec believes there are three core challenges established banks should address to remain relevant in the eyes of their customers. These are customer expectations, regulatory pressures and competition from FinTech rivals.
Customer expectations: Customers will be asking for products on the go and banks needs to deliver it at near real-time speeds to the channel they prefer. Currently, banks find it extremely difficult to match the product delivered to customer expectations.
Regulatory Pressures: As regulatory requirements continue to increase, banks need to find a way to reduce spend to become compliant as it is taking up budget traditionally spent on business-enhancing projects.
Competition from FinTech companies: Young, technically nimble FinTech organisations pose a big threat to the traditional banking system because of the way they delight customers. Traditional UK and European banks are finding it difficult to quickly deliver changes in their technology, operations and culture which will improve customer retention.
At SunTec, Dua will be responsible for the leadership of SunTec’s global Client Facing team overseeing Sales, Engagement and Alliance functions globally. He is also responsible for developing new and existing business opportunities and creating innovative solutions for customer needs.
Nanda Kumar, SunTec Founder and CEO, said: “I welcome Amit to the Management Team of SunTec. As we invest for the next stage of our growth, Amit’s strong desire to succeed coupled with his deep industry experience are assets which will enhance SunTec’s ability to meet the needs of our customers during tough economic and political times. Having the right leaders in place is critical as we continue to grow our market share and take advantage of the opportunities provided by the industry. One of my focus areas will be on maintaining SunTec’s collaborative culture across multiple offices and this is the first of many significant hires to happen within the coming months.”
Amit Dua, Global Head of SunTec’s Client Facing Group, said: “With digitisation taking over the financial and digital communications services completely, it is all about the customer and personalisation needs to happen quickly, if not in real-time. Contextual banking will emerge as the victorious banking model of the future. It’s a world of seamless banking where financial offers are delivered to customers at the place and time of need. We anticipate a huge market opportunity here and are already making investments for the next phase of growth. I look forward to expanding SunTec’s footprint in new markets like I did at Infosys.”