The Silicon Review
Founded in 2003, Posidex Technologies helps their client in transforming their businesses through unified data management platform and improve their overall business intelligence and operations.
Established with a motto to serve its clients and their desires, today Posidex Technologies is transforming businesses in many ways. Posidex has expertise and experience to provide comprehensive functionality for data management for the purpose of Customer Data Integration (CDI), Data Quality Improvements, Master Data Management(MDM) etc on data spread across multiple source systems.
With their astounding innovative and proven entity resolution and analytics technology, Posidex Technologies has transformed the way business operates and engages with their customers during their entire life cycle with the organization. They constantly strive to improve and keep upto speed with the latest technologies like Hadoop and other big data technologies, keeping the client’s business objectives in mind.
Products and solutions offered by Posidex help customers in areas like Customer On-boarding, Risk Management, Regulatory Compliance, Single source of truth for their data and also in Cross-sell and Up-sell. Their clients have reported 10x to 30x improvement in their average processing speed, 100x average return on their investment and a few Millions in annual savings – all while contributing to huge improvement in their overall business efficiency!. As Identity resolution is fundamental for single customer view and master customer repository, their products are playing a pivotal role for organizations and have literally become the nerve center of their day to day operations.
Headquartered at Hyderabad, Posidex Technologies currently operates only from India. But they are looking at expanding in MEA, SAARC, ASEAN, North America, Europe soon.
Being an employee driven organization
Change for growth is the one aspect which Posidex will always try to embrace. Their focus is to design employee friendly policies which seek global acceptance. Many of their Reward & Recognition programs are designed in a way that boosts the motivational level of employees and encourages them to contribute their best towards organizational growth. Regarding employee Benefits: they very well focus on Work life balance, Mediclaim Insurance, Employee Referral bonus policy, Quarterly incentive program etc.
Offering quality and excellence just-in-time
Posidex offers valuable differentiation to their clients through their ability to deliver near instant response time. They are able to process huge volumes of data in the tune of millions of records with in-memory processing and inbuilt analytics to deliver powerful search results with high Precision & Recall. Their matching engines help maximize the number of automated matches (system driven matches) thereby minimizing manual intervention + Implicitly handles data quality (spelling mistakes, partial data entry.) Identity search involves matching of several parameters and each has its own challenges. PrimeMatch looks for all possible variations, both in the presence and absence of unique id’s, has real-time resolution capability – near instant Turnaround time!
Products offered by Posidex are highly customizable as they offer higher degree of control on matching, Configuration of rules and match tolerance: give a lot of power to users! Well that’s not it, they are also Hardware agnostic: Agnostic to databases, hardware, applications and operating systems.
Knowing the Key Executive
Bhavanishanker Chitoor, Co-founder and CEO- Bhavanishanker carries around 25 years of Industrial experience in domains of finance, research and Information Technology. Apart from concept inception to product delivery, he is guiding direct sales, forging partnerships with leading system integrators and developing OEM partnerships with other technology companies. He is focused on building and maintaining strong customer relationship. Under his guidance, Posidex has achieved major marquee customers in India and won various accolades. Prior to founding of Posidex, he specialized in architecting various products based on web and client server technologies for startups as well as midsized company.
Previously he worked for one of the leading housing finance company in India as well as served as Senior Research Fellow in engineering at Osmania University. Bhavanishanker holds Master of Engineering from BITS, Pilani.
Winning the trust of clients
Started with Banking and Financial services vertical, today Posidex’s takes pride in gaining clients that are spread across various verticals like Banking, Non Banking Financial Services, Mortgage Finance, Life Insurance, General Insurance, Telecom, Credit Bureau, Retail and Government. Their clients find their services valuable and have contributed immensely in their business operations. Some of them have shown exponential growth and their technology is able to keep pace with their explosive growth and is helping them run their operations smoothly.
Posidex’s highly popular products are currently implemented at HDFC Bank, ICICI Bank, Axis Bank, Income Tax Department, CIBIL, Airtel, Idea, Bajaj Finserv, L&T Finance, Reliance Capital, Tata Capital, etc.
The future prospects
Currently focused on BFSI sector (Banking, Financial services and Insurance sector), Posidex Technologies always considers e-Governance and Telecom sectors to be their growth verticals where they see lot of opportunities for partnerships and alliances.
As part of their future endeavors the company would like to focus on their core areas along with exploring opportunities in Healthcare and Travel/hospitality space.
Few ‘Facts’ about Posidex
What their happy clients have to say
“This application seeks to reduce the time consumed and complexity involved in checking the credit worthiness of a customer. The bank sees 10x improvement in processing speed with minimal hardware requirements and estimates savings of Rs.22.50 Crores per annum (assuming just 5% increase in approval and decline rates).” – AGM, ICICI Bank
“The rule engine and the inbuilt data dictionary is configurable and allows us to determine the confidence of matching. We are fully satisfied with the quality of output. The support of Posidex Technologies is commendable.” – Sr. VP, AXIS Bank