Dublin headquartered consumer credit company Experian has tied up with Chennai-based technology distributor Redington India to market the former’s software solutions to the banking, financial services and Insurance (BFSI) industry.
As part of this partnership, Redington will distribute Experian’s PowerCurve software through its 15,000-strong partner network, a statement said. The software enables automation of processing and decision making capabilities, and helps cut acquisition costs for banks and financial institutions.
“Our association with Experian has come at a time that is critical for the BFSI industry. There is a lot riding on this sector and Experian’s solutions will allow them to make informed decisions,” R Venkatesh, vice president at Redington, said.
Founded in 1993, Redington India provides logistics solutions for information technology, consumer and lifestyle products to over 200 international brands.
In February, Experian set up a development centre in Hyderabad, its first in India, which currently employs 200 engineers and is expected to have about 2,500 employees by 2024.
“We believe that the financial institutions will focus their investment towards analytics, fraud detection, digital customer acquisition, customer management strategies and build efficient collection processes. We have built smart solutions across all these key focus areas; to effectively assist such institutions in navigating the current times,” Sathya Kalyanasundaram, managing director of Experian India, said.
The 125-year-old company claims to have offices in 44 countries and employ 17,200 people. It is also a constituent of the Financial Times Stock Exchange 100 Index.
In April, several brokerage reports indicated that the Indian IT sector, which is facing low levels of growth in the near-term, may find some support from the BFSI segment. Ratings agency CRISIL expects the BFSI sector to grow 8% on the back of rising digital transactions and the presence of larger and longer-term maintenance contracts.