Company Targets Region’s Mutual Funds Industry. Global technology solutions and services provider, 3i Infotech today launched its Business Process Outsourcing (BPO) initiatives to service the Middle East’s multi-billion dollar Mutual Funds industry at Bahrain’s MEFTEC 2007– the premier banking & financial services technology event for the Middle East, Africa and South Asia (MEASA).
3i Infotech’s 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.
”To 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,” said Kalpesh Desai, Chief Operating Officer, 3i Infotech, Europe, Middle East & Africa. “We 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.”
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.
“Regional 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,” 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 Infotech’s 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.
About 3i Infotech Limited
3i Infotech (www.3i-infotech.com) provides a range of information technology solutions for insurance, banking & finance, Capital Markets, Mutual Funds, e-Governance, manufacturing, and retail & distribution. The company is SEI CMMI Level 5-compliant for its software business and ISO 9001:2000-certified for its Infrastructure Services and Business Process Outsourcing Operations. Using its domain knowledge and through continuous investment in technologies, 3i Infotech Limited helps corporations in their businesses through its expertise in enterprise-class software solutions, software services, information security consulting, IT infrastructure and disaster recovery solutions. 3i Infotech has a presence across 5 continents and serves customers in 50 countries.
For almost two decades, 3i Infotech has been serving the Middle East and Africa region. 3i Infotech's list of more then 500 customers includes those in the GCC countries, Sudan, East & West Africa, South Africa, Mauritius, the Central Asian Republics and the Mediterranean countries.
For more information, please contact:
T +971 4 3902960
F +971 4 3908161