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30 Best Tech Companies in Asia 2018

Offering intelligent solutions for the Banking and Financial Services Industry: Profinch Solutions Pvt. Ltd

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The banking landscape is going through significant changes due to the evolving factors of customer expectations, demographics, regulatory requirements, new competitors and technology. As these factors continue to impact the way banks conduct their business, they have to step beyond the traditional banking methods and adopt technology-intensive solutions to increase revenue, enhance customer experience and manage risks. Today, technology is not only changing the banking environment but also the relationship with customers. Along with bringing superior products and channels, technology has brought customer relationship into greater focus.

Information technology has been the foundation of several financial sector reforms that are crucial in increasing the speed and reliability of financial operations as well as strengthening the banking sector. One such company that accentuates the banking and financial services sector with its IT products and services is Profinch Solutions Pvt. Ltd. It is an IT products and services company focused on banking and financial services. Profinch makes its clients more efficient and delivers tested, innovative and high-value banking solutions with agility. It does that by leveraging years of experience and expertise in banking along with its committed and passionate teams of consultants.

Inception of the company

Profinch Solutions was incorporated in 2014 with a vision to be the reputed and trusted solution provider in software/technology for the BFSI segment. Very early after incorporation, Profinch Solutions established a partnership with Oracle for banking solutions, and the initial customers were consumers of consulting services related to Oracle FLEXCUBE. Steadily, through its initial set of customers, which were largely from the Africa and Middle East markets, Profinch established a reputation for its service delivery capability.

In the year 2015, Profinch started its journey in the business intelligence and analytics space, and FinCluez was conceptualized and its development started. In early 2016, the first customers for FinCluez were signed up, and the journey of development continued to increase the functional depth across a wide cross section of business areas in banking. FinCluez gained recognition in the form of the most innovative Business Intelligence application in “International Finance magazine 2017”, and “Technoviti 2018” for the most innovative BI application in the banking space.

Simplifying banking analytics with FinCluez

Profinch’s expertise in packaged solution implementation enables a deep insight into how solutions are deployed, and the flow of transactional data across the financial services customer. By use of FinCluez, it is possible to gain an insight into how transactional data, as cross tabulated across a variety of parameters, say like industry segment, can be a source of intelligence of the relative and absolute performance of the customer in a different segment, possibly providing insights for early stage market caution, correction, etc.

FinCluez is designed to be agnostic to the source of transactional data that feeds into the processing engine, and is also relatively independent of the technology components used for transformation and analysis of this data. However, since the manifestation of business intelligence is the key to its usability, the company has evaluated various options, and narrowed its choice to using QlikSense as the visualization interface. This ensures ease of usability of very intuitive information discovery by the business user community which is its primary consumer and beneficiary.

Building lasting relationships with customers

All its clients operate in the BFSI industry. Its solutions help them in transaction processing and intelligence from these transactions. Some of its large clients include Bank Atlas Mara group from (Southern) Africa, Janalakshmi Financial Services (to be Jana Bank), India, GCB Bank, Ghana, Afrasia Bank, Mauritius and Wegagen Bank, Ethiopia.

What differentiates Profinch is its deep understanding of the industry segment (especially banking), and the technology expertise in the areas that the company works in to provide the customers with a partner they can trust for the creation of innovative and effective solutions. Profinch faced challenges from mainly two areas. The first one is the rate of adoption of technology in some of the discretionary spend areas like business intelligence is not as fast as it should have been. Secondly, the hiring of suitably skilled personnel in the technology and business areas was quite challenging.

Trusted by clients worldwide

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Profinch takes immense pride in stating that each and every one of its customers is referenceable. It ensures a complete focus on solution delivery so that each and every client, however small or big, is a satisfied customer.

“We’ve been working with Profinch team for over the year. During our cooperation, we have revealed that company members are very hard working and spirited people. All tasks and requests from our side have always been carried out efficiently and in time with full responsibility.

It was easy and interesting to learn the things as the team members were very encouraging, energetic and passionate. Great people to work with!” - Bakhtovar Yusufi, Head of Business process management, IT Department, JSC “Orienbank”.

Let’s meet the leaders behind Profinch Solutions Pvt. Ltd.

Jaskaran Singh Bhogal, Executive Director

Jaskaran has over 24 years’ experience in a variety of industries. He has held leadership roles in consulting practice across the globe as an accomplished professional in end-to-end conceptualization of strategies and execution of projects towards fulfillment of the strategy. His earlier experience in a variety of industries enables the development of a holistic view of strategic tasks and goals.

Ashok Kumar, Executive Director

Ashok is an accomplished and performance driven professional with over 18 years of experience in IT project execution. He has been involved in various roles in development of software and implementation projects involving planning, analysis, design, interfacing, migration and support. He has displayed dexterity in management of complex deployment projects involving multiple stakeholders, especially for Citibank worldwide.

Kiran Kumar, Executive Director

Kiran brings to Profinch, the rich experience of over 20 years in the banking and financial services industry. He has been associated with corporations for bfsi consulting and enterprise mobility. Kiran has led and managed teams in various verticals in the software industry- including client management, delivery, implementation and support- spanning across all continents.

“At Profinch, we believe that building customer relationships is the key to success. Our customer’s needs are carefully evaluated by our expert consultants who are known for their strong technical and business capabilities.”