Indian Fin-Tech Products Report 25042016 Secured

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Indian Fin-tech Products

Innovation Driving Growth
Summary Messages
• Worldwide Fin-tech software market was valued at ~USD 32 billion in 2015 and is forecasted to reach to
~USD 45 billion by 2020, at a CAGR of ~7 per cent
• The total Fin-tech software and services market from India is worth ~USD 8 billion and pegged to grow
1.7X by 2020
• The Indian Fin-tech software product market generated revenues of USD ~1.2 billion in 2015, and is
expected to grow >2X by 2020
• With ~400 companies, India is quickly emerging as an Fin-tech products hub out of which more than 30
per cent are mature firms with demand across regions
• Payment processing (that include transaction gateways and platforms, Online/Mobile wallet, ATM & POS
services, Remittance and Cash cards) and Trading are key emerging segments in Indian Fin-tech landscape
• BFSI, ecommerce and retail verticals are leading the adoption of Fin-tech
• Acceleration of funding in Indian Fin-tech products industry - ~ USD 420 million already invested in 2015
• The Indian Fin-tech industry is expected to grow significantly in the future, driven by increased demand
for mobility and analytics solutions
Indian Fin-tech Products - Innovation Driving Growth 2

Table of Contents
1. Indian Fin-tech- Quick Facts 03 As a part of the NASSCOM Product Council initiative to highlight
India’s ever growing role in the global products value chain, we
have created the largest compendia of Indian product companies
2. Fin-tech- Global Opportunity 04 across industry segments (productsmade.in) and have also
facilitated the creation of a framework to present an in-depth
3. Opportunity in Indian Market analysis of each of the 9 outlined product segments.
07
We are delighted to put together the fourth installment of the
Landscape analysis research papers titled “Indian Fin-tech
4. Fin-tech Landscape 10
Products – Innovation Driving Growth”. The objective of this
study is to present a detailed overview of the Fin-tech software
5. Horizontal and vertical trends 14 products landscape in India and discusses key business and
technology trends, drivers, and enabling ecosystem for Fin-tech
and its sub segments. The report also highlights and profiles
6. Funding trends 17 cutting edge Fin-tech solutions and products developed by ~110
Indian companies.
7. Conclusion 20 We hope you find this report useful, and we welcome your
feedback and comments at research@nasscom.in
• Appendix- Fin-tech profiles 21

India: A Rapidly Growing Fin-tech Hub
1 A growing ecosystem with young breed of start-ups ~200 Fin-tech

start-ups
2 Growing market opportunity ~USD 8 bn

total market size
3 Acceleration in funding USD ~420 mn

invested in 2015
Birth of new segments – Payment processing ~60%

4 Focussed start-ups
emerging faster
Indian Fin-tech software market is estimated to cross >2X

5 growth by 2020
~USD 2 billion by 2020

Global Fin-tech software – A USD 45 billion opportunity by 2020
Global Fin-tech market USD billion
Supply side Demand side
360
CAGR 7.1% • Large players acquiring companies • Need to expand and upgrade
281
with complementary capabilities technology infrastructure
CAGR 4.93%
• Continued growth of niche solution
315 providers and players serving local • Mobility and Analytics are the
249 needs emerging technologies
Services#
Fin-tech Software
32 45
Key Trends
2015 2020
Business Fin-tech software market revenue by Segment (in %)
100% = USD 32 billion (2015)
Banking Insurance
• Core banking software 1) Risk solutions
• Accounting & treasury management 33% 2) Agency management software
• Risk management 47%

• Digital banking solutions
• Lending software
• Business intelligence
20%
• Document management
• Payment solutions Securities
1) Web/Mobile platforms
2) Analytical Trading platforms
Source: Deloitte Analysis, Analyst Reports, Gartner, NASSCOM

Investment in new channels is driving the Fin-tech market
DRIVERS IMPACT
Proliferation of connected devices Emergence of niche Fin-tech startups: To cater to

the huge demand of mobility solutions
Digital savvy consumer seeking new

technology
Growth of Financial analytics solutions: Helps BFSI
sector in managing risks and taking data driven
decisions
Increased focus on improving
profitability
Rise of innovative low cost Fin-tech solutions:

Expansion of technology These solutions are witnessing fast adoption over
infrastructure in emerging markets traditional investment heavy solutions
These factors have resulted in the development of a healthy ecosystem of players in the global Fin-tech software market
Source: Deloitte Analysis, Analyst Reports, Gartner, NASSCOM

Global Fin-tech software landscape – Continuously evolving
Global Fin-tech Software Landscape
Banking
Accounting & treasury
Digital banking Core banking software Risk management
management
Business Lending software Document Payment solutions

intelligence management
Securities Insurance
Global Fin-tech market is highly fragmented, growth is driven by niche and regional service providers
Source: Deloitte Analysis, Analyst Reports, Gartner

Indian Fin-tech market expected to grow 1.7X by 2020
Fin-tech market in India (USD billion) Fin-tech market in India by Category in 2015
10 Growth: ~14.3%
13%
Total Software
Growth: ~20% FinTech Services
8 market
7
FinTech
sofware
87%
0.99 1.2 market
0
2015 2016 India: Fin-tech Software landscape*
Indian Fin-tech software market revenue share by Segment
Total Fin-tech software products
FY2015
100% = ~USD 1.2 billion (2015) in India market
~350-400
Insurance
25-30% Start-ups ~28-32%*
Mid sized firms ~38-42%*
Integrated firms ~28-33%*

Securities
10-15% Banking No of companies (in %)
65-70%
Payment solutions (considered under banking) and Securities are key segments for Indian Fin-tech providers
*~110 unique companies providing Fin-tech solutions are evaluated
Note: Total FinTech market includes services and software
Source: Deloitte Analysis, Analyst Reports, NASSCOM

Evolution of Fin-Tech ecosystem in India
Roadmap of Indian Fin-tech products
New Innovations
Growing Technologies • Mobile wallet

• Cash cards
Early Adoptions • Transaction Gateways and platforms • PFM
• Mobile banking • Bitcoins
• Core banking • Trading
• Accounting and Treasury
• Finance analytics
management
• Remittance
• Insurance
• Lending
• Document management
• Risk management
• ATM & POS services
Time to achieve maturity

Source: Deloitte Analysis, NASSCOM

Fin-tech driven by need for streamlining operations,
increasing reach, empowering sales force
Fin-tech: A top priority for CXO’s Fin-tech – India demonstrating its growing role with various user cases
• Core Banking Solution
Primary factors driving Indian firms to
deploy Fin-tech Solutions Kotak Mahindra- A leading private sector bank in India. The bank has over 600 branches
across 379 locations and 31,432 employees.
Business Case- Need to replace the existing legacy core banking system in order to support
1. Streamlining day to day operations its rapid expansion, minimize downtime and add new functionalities.
Solution- Finacle, core banking solution by Infosys was deployed. The solution provided
benefits of shorter time to market, scalability, 44% increase in new accounts realized in
2. Driving sales and revenues quarter succeeding deployment of solution, addition of new offerings and 24*7 availability
to the bank’s back office
• PayUMoney Payment solution

3. Increasing reach
PayUMoney- Provides state-of-the-art payment gateway solutions to online businesses
The transaction gateway is fast, easy and secure. Its buyer protection feature assures money
4. Process efficiency & improvement back to its users in case of failed/incomplete transactions. It has wallet feature which allows
fast checkout. The refund in case of cancellation is immediate too
5. Empowering Sales Force • Document Cleansing Solution

Bank of Maharashtra- A major public sector bank of India. The bank has over 1800 branches
and 15 million customers.
6. Managing risks and cost of compliance Business Case- Need to uniquely identify customer, in order to identify opportunities for
upselling and cross selling
Solution- The benefits accrued in addition to improved marketing were reduction in fraud,
ability to better segment the customers, pre account opening verification, integrated
internal/external MIS reports
Source: Company websites

India: Healthy Fin-tech software ecosystem
Fin-tech Landscape
Banking
Mobile banking Core banking software Risk management Accounting & treasury
management
Payment processing Trading

Transaction gateways and platforms Online/Mobile Wallet
ATM & POS Services Remittance Cash cards
Document management Insurance Financial analytics Lending
Source: Deloitte Analysis, NASSCOM

46 per cent of the Indian companies are focused on Payment
processing and Trading solutions
Share (% of
Key players Key sub-segments Key/Emerging trends
companies)*
Transaction gateways • Improvement in service level by utilizing analytics

and platforms to increase success rate and reduce time of
transaction
• Expansion in portfolio of services: Partnerships

Online/Mobile Wallet with offline players like QSR and retail chains on
the rise
34%
Payment • Large scale deployment of mobile POS which acts
processing ATM & POS services as mini ATM
• Focus on innovative business model to reduce time

Remittance and cost of remittance service
• Huge growth for prepaid gift cards

Cash cards
• Key growth segment: underbanked Indians
• Increasing demand for trading platform on the

12% Web/Mobile solutions
Trading/ Public/ web and mobile
Private market
investing Analytical Trading • Analytics is increasingly being deployed for
providing algorithmic and automated trading
platforms
solutions


47 per cent of the Indian companies are focused on Banking,
Insurance and Lending solutions
Share (% of
companies)*
Accounting & treasury • Rise in demand for solutions providing real time
information, centralized hosting and integrated
management
modules to increase efficiency
• Emerging banks are looking for cloud based

Core banking software solutions to minimize operational and up front
deployment costs
32%
Banking • Big data based powerful solution to effectively
Risk management manage risk and compliance being sought by
banking and financial services
• Mobile banking solutions for different operating

Mobile banking systems
• Large scale deployment of Apps on mobile/tablet

Insurance 9% Sales force automation which allows on field access and editing of
information for higher productivity of sales force
• Rise in demand of lending systems that fully

Lending 6% Lending systems automates the lending process and provides
intelligence for decision making


7 per cent of the companies are focused on Document
management and Financial analytics
Share (% of
companies)*
Document Document management • Banking and financial services harnessing the

4% mobile channel has raised the need of DMS
management systems
systems with mobile platform integration
Financial • Focus on providing personalized experience to

3% Customer analytics customers by banking and financial services is
analytics driving demand for customer analytics solutions


Technology driving innovations in the Banking Sector
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Technological Alternative to
Innovations in Traditional Banking
Banking L
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A le nd up e
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Fraud/ Risk no s a n nge R e rt
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Mitigation Mobile Banking sp e w
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Management c r ce ry
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Social Media, e Th mer ilaa
Cloud Computing e sM
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• Inspite of these innovations, there are certain regulations that banks have to face such as Foreign Account Tax Compliance Act ( FATCA), anti money
laundering ( AML).
• Banks will therefore have to resort to technology to deal with the complexities in compliances and procedures. Regulatory information required is
obsolete and lack of automation and integration across systems causes another challenge for banks. They therefore have to reconsider their
technology spend on data warehousing reporting systems and on effectively integrating of systems and processes
Source: Deloitte Analysis yourstory, livemint,

Innovations driving Personal Finance Management
Customer Personal Financial
Cost Optimization Increased Revenue
Enhancement Management
• Personalized expert advise to • Cost Savings- Online and • Cross Sales Marketing • Single Platform that helps
the customer Mobile Banking customers manage their
• More Marketing opportunities
finances
• Taking care of every customer • Paperless Banking System in online banking
needs • A number of startups have
• Use of Electronic Payment • Direct Fee Income
emerged in this segment
• Risk Mitigation Methods
which include scripbox,
moneyivy, futurewise
Key Facts & Analysis
Examine • Personal Finance Management/ PFM is a one stop online platform

that enables users to personally manage their finances
Estimate
• A number of startups have emerged in this segment.
– Money Ivy- Headquartered in Bangalore by a group of ISB
PFM professionals.
Framework – Scripbox- Headquartered in Bangalore in 2012, it aims at
Report eliminating the issues choosing from more than 5000 mutual
funds. The company has received INR 16 crore from Series A
Forecast funding from Accel Partners
• Recently, in 2011 ICICI bank launched their PFM solution called
Money Manager
Track
Source: Deloitte Analysis, Forrester, TCS, onecentatatime.com, iamwire.com

Transaction gateways and platforms, Mobile banking and
ATM & POS services are emerging horizontals
Segment wise percentage of Indian Fin-tech companies Key points
KEY FACTS
• Targeting Payment
34% processing and Banking ~65% firms
32%
12%
9%
6% 4% 3% • Targeting Banking software 46 firms
Payment Banking Lending Document Insurance Financial Trading
processing management analytics
• High focus on Transaction

Sub-segment wise split (Top 3 emerging areas*) gateways and platforms >30 firms
Payment processing Banking
• Remittance–A key
Transaction Accounting & emerging area 11 firms
43% gateways and 30% treasury
platforms management
Online/Mobile Core banking An important segment to watch out for is ATM & POS
19% 26% services ~17% of companies are offering targeted
Wallet software
solutions for this segment.
The need for increasing ATM penetration and catering to
ATM & POS Mobile banking the demand of millions of small and medium scale
17% 21%
services enterprises for POS services are driving growth for this
segment.
No of companies (in %)
Source: Deloitte Analysis

BFSI and Next Gen Commerce are top verticals served
by Fin-tech
Fin-tech solutions vertical wise
Top verticals Key players
Traditional
Next Gen
Commerce BFSI
20 – 25%
Government Next Gen

& Defense Commerce
5-10%
Media and
Emerging
Media and Entertainment
Entertainment
BFSI
5-10%
60 -65% Telecom
Telecom
5-10%
Others Government &
No of companies (in %) 5-10% Defense
Top verticals served by each segment
Banking Payment Processing Trading Insurance

Next Gen
BFSI Commerce BFSI Media & BFSI
Next Gen
Commerce BFSI Utility Entertainment
Government 1 st Travel & 1 st
1 st 1 st Shared
& Defense Hospitality Manufacturing
2 nd 2 nd 2 nd 2 nd
3 rd 3 rd 3 rd 3 rd
2 nd 3 rd
Lending Document Management Financial Analytics

Next Gen BFSI BFSI BFSI
Commerce Shared Shared
1 st Shared 1 st 1 st
2 nd 3 rd 2 nd 2 nd


Start-ups are more focused around Payment processing
and Trading solutions
Segment-wise split of Indian Fin-tech start-ups incorporated
since 2010 onwards* Key Facts & Analysis
• Incorporated in 2011, the company received $11.5 million in three
rounds from three investors - Helion Venture Partners, Berggruen
Holdings, Amex
• Ezetap is a global leader in the rapidly growing Mobile Point of Sale
(MPOS) market. It has customers across South East Asia and Africa
Payment Processing-Zaakpay
• Founded in 2011, the company received less than $1 million from
Sequoia Capital
59%
• An online payments startup aims to make payments simpler for
ecommerce players and has over 1000 merchants in their client base
26% 30% Trading- BankerBay

• Incorporated in 2012, the company received less $1 million from angel
7% investors Ernst & Young
Banking Insurance Payment processing Trading • Provides web based Investment Banking tools for Private equity firm,
venture capital firms, hedge funds, banks and investment banks
No of companies (in %)
Trading- Heckyl Technologies
Increased interest of investors towards innovative • Incorporated in 2010, it received Series B funding of $4 Million in Dec
products has propelled the Fin-tech market in India 2013 from IDG Ventures India
• The company offers Big data based analytical platform for trading.. The
client base is across UK and Singapore.

Funding gains momentum in Indian Fin-tech industry –
~USD 420 million already invested in 2015
Not exhaustive
KEY FACTS
Indian Fin-tech funding and Investment, 2015
In USD millions
• Invested in 2015 across
98
~36 deals; ~31% of deals are ~USD 420 million
81 78 early stage funding
66
• Invested in 2014 across with ~USD 40 million
40 ~6 deals within mobile
29 payments solutions
15
10
3 • Invested in 2013 across
0
~12 deals ~USD 22 million
Jan Feb March April May June July Aug Sep Oct
Funding in Fin-tech products in each category*
1 Document management
Company Investment Details ( 2015)
2 Trading/Public/Private markets
MobiKwik A payments startup providing mobile wallet raised $25 million
3 Financial analytics in a Series B round
4 Payment processing Fintellix A risk, compliance and financial analytics startup, raised $15
million in a Series C round
5 Banking Itzcash A payment startup providing Cash card and Remittance
solution, raised $15 million in a Series C round
6 Insurance
Artoo Financial CRM startup, raised $0.5 million in a Series A
7 Lending round

Source: Deloitte Analysis, trak.in, yourstory.com, inc42.com

Investments – Gaining scale and access to global markets
Key investments in Indian Fin-tech industry
Company Amount
Investor (USD millions) Year Round Products offered
Policybazaar Inventus Capital Partners 5 2013 Series B Insurance comparison platform

(web based)
Citrus Pay e-Context Asia and 5.5 2013 Series B Transaction gateways and platforms,
Netprice.com Online/Mobile wallet
Ezetap Led by Helion advisors, Social + 8 2014 Series B ATM & POS Services
Capital and Berggruen Holdings
BankBazaar Amazon, Fidelity Growth 60 2015 Series C Financial Products comparison

Partners, Mousse Partners platform(web based)
FreeCharge Valiant Capital, Tybourne Capital, 80 2015 Series C Transaction gateways and
Sequoia Capital, RuNet and Sofina platform
Some of the active VC firms in Fin-tech space in India

Sequoia Capital IDG Ventures Tiger Global Matrix Partners
• Sequoia Capital is the leading • IDG Ventures is the leading • Tiger Global is the largest • Matrix Partners is a private
investor in Indian Fin-tech firms India-focused technology VC investor in Indian startups in equity investment firm, in India
• Key Investments: firm 2015 its focus is technology
ü 2013- Invested USD 2 million in • Key Investments: • Key Investments: investments
Citrus Pay ü 2013 - Invested USD 3.5 million ü 2015- USD 5 million investment • Key Investments:
ü 2012 - Invested ~ USD 1 million in Heckyl in Series B in ChargeBee led by Tiger global ü 2012- Invested USD 5 million in
in Zaakpay ü Other Fin-tech investments ü Other Fin-tech investments mSwipe
include Fintellix and Momoe include Policybazaar ü Other Fin-tech investment
include ItzCash

Enterprises are deploying Fin-tech software solutions to
tackle major business challenges
Following are the key use cases observed across various market segments:
Key players Key verticals Key benefits

• BFSI • Increase in revenue per customer
Presence on new channels • Next Gen Commerce • Increase in portfolio of offerings
(Mobile/web) • Travel & hospitality • Acquire new customers
• Telecom
• Across sectors • Optimize resource utilization

Operations • Faster decision making
management • Profit maximization
• BFSI • Better risk related decision making

Risk • Increase in profitability
management • Managing regulatory compliance
• BFSI • Increasing reach

• Faster customer acquisition
Increasing
• Enhancing sales force productivity
customer base
by providing on-field access to
information


Fin-tech software market – The future is mobility and analytics
Fin-tech total market size in India
Indian Fin-tech market is expected to grow at a CAGR of
(USD billion) 1. 14.5 per cent; 1.7X growth by 2020
.5% Transaction Gateways & Platforms, Mobile Banking and ATM & POS
R: 14 2.
G services to attract maximum demand by 2020
CA
13.7
Payment processing and Trading solutions will increase their market
8.0 3. share from present ~46% to over 55% by 2020
Telecom, Media and Entertainment and Government & Defense will

2016 2020 4. generate more demand for Fin-tech solutions by 2020
Expected evolution of Fin-tech market

Mobility and Analytics are
the emerging technologies
Focus is shifting towards
Fin-tech solutions for digital
Traditional and emerging channels Increasing reach and enhancing profit
verticals generating margin is what every business is looking for
extraordinary
Stepdemand
1
1. Fin-tech mobility solutions high on functionality and user
Next Gen Media and experience will find huge uptake amongst customers
BFSI Telecom
Commerce Entertainment 2. Analytics based intelligent Fin-tech solutions will equip
business in spotting high yielding business opportunities
Traditional Emerging

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Indian Fin-tech Products Profiling

Product Profiling (1/26)
Year of Product
Key Products
inception Category
3i Infotech • C-Matis: Portfolio Management system
• MFund: Mutual Fund Solution
Banking & • WHTPro: US Withholding Tax Administration Solution
1999 Document • rhymeSIGHT: Investment & Wealth Management Software
management
• Telesto: Private Banking & Wealth Management
• Quantis: Asset Management Solution, Reporting to Clients
• Fiscal: Integrated Stockbroking and Accounting System
• Kastle: Asset Liability Management, risk management, factoring and Treasury
• Document management solutions offered are: DataScan.Online, Document Archive, DataFlo
A Little World Pvt. • Zero: The company’s payment system is used in various applications -biometric identity, cash deposit,
Limited Payment recurring deposits, cash withdrawals, money transfer, NREGA/pensions, micro credit, micro insurance,
2000 processing cashless payment, utility payments, SHG utilities, disbursals, repayment, and attendance.
• mZERO: mobile version of ZERO available as self-service payment option
Acceltree Software Pvt. • AcceLife: Sales Force Automation mobility solution

Limited Insurance • Mobile Lead Management System
2010
• Agent's Companion: mobile based Customer Relationship Management software
Accusol Technologies • eLitePOS: innovative POS solution that automates the entire hospitability business
Pvt. Limited Payment
2007 processing
Acute Informatics • EasyBankCore: browser based enterprise multi channel core banking solution
Banking &
Pvt. Limited • EasyShoper: browser based Point-Of-Sales solution. Provides unified platform for On-Line Billing , Bar Coded
2005 Payment
processing Inventory and Multi-brand outlet management system

Year of Product
Key Products
inception Category
Agile Financial • Investment management solution: suite of products for Wealth management, Fund management, Financial
Technologies planning, BancAssurance, Capital Markets
Banking, • Agilis Core Insurance: a comprehensive insurance solution for entire business cycle
2008 Insurance, • Agi-Lite Insurance: plug and play core insurance system for important business requirements of a General
Lending, Insurance company
Document
management & • Lending Solutions offered are: AGILIS Loan Origination System (LOS), AGILIS Loan Management System
Finasncial (LMS), AGILIS Loan Collection System (LCS)
analytic • Agilis Document Management Solution (DMS)
• 1Key Agile BI Suite: Business Intelligence Reporting Analytics Software
AGS Transact • ProView: solution aimed at administration/monitoring of ATMs and Kiosk

Technologies Payment • ProSales Marketing: solution for direct marketing on ATM
1992 processing • ProCash 280: ATM machine with security features as per RBI guidelines
• ProCash 285: Through-the-wall ATM
Airpay • Payment gateway: Airpay provides a dynamic payment gateway, enabling businesses to accept credit / debit
Payment card transactions across website, wapsite and mobile applications
2012
processing • Interactive Voice Response Payment gateway solution for real time information exchange
• Mobile Point of Sale solution
ANALEC Infotech • ANALEC ResearchWise: Investment Research Management Platform
Private Limited Banking & Trading
2003 / Public/Private • ANALEC ClientManager: Client Service Accountability Platform for Broker-Dealers
markets investing • ANALEC ModelViewer: Financial Modeling & Forecasting Platform for listed companies
Antz Media Pvt. Billing & Inventory Solution: accounting software which enables tracking of stock, income and expense details of
Limited an organization
2007 Banking &

Year of Product
Key Products
inception Category
Atom • IMPS (Immediate Payment Service): allows instant immediate electronic fund transfer service initiated
through mobile phones
Banking & • Financial Inclusion Platform: Platforms / solutions enabling bank correspondents and micro finance
2006 Payment institutions to take organized sector banking to the “unbanked” people
processing
• Mobile banking Solution: provides access to mobile banking on different mobile operating systems (android,
iOS, Blackberry) with GPRS connectivity
Aucupa Innovative BULB : solution which integrates information regarding inventory, billing and clients on a mobile/tab device to
Solutions Payment
2012 processing improve efficiency for B2B/B2C companies - Bulb4 Supply Chain & POS, Bulb4 Retail Billing Counter
Aurionpro Solutions • Cash management platform (iCashPro): web based end to end cash management solution
Limited • Financial supply chain management platform: aids banks in managing their working capital and funding
Banking & requirements
1997 Lending • Aurionpro payments framework: suite of plug and play components for diverse payment needs
• Lending solutions offered are: Corporate loan origination system, Retail loan origination system, Loan
origination system for SMEs, Collateral and limits management system
BankerBay Trading / Public/ BankerBay Investment Banking platform: Connects companies with investors by collecting and tallying the
2012 Private markets transaction and investment criteria of leading financial institutions globally
investing
BankSmarts Solutions • Cashpirin: patent-pending enterprise level cash-management framework for retail banks
2012 Banking • FieldPlanner: platform to optimize branch and ATM locations and branch sizes

Year of Product
Key Products
inception Category
Bill desk BillDesk: online payment service that provides a single point of contact for all payment needs
Payment
2000 processing
Bluechip Fin-tech • Payment Hub – Notifications (RAN): R-Pay RAN (Real-time Payments Rule-based Automated Notifier), the
Solutions and solution processes the transaction messages in real-time to ensure fast sending out of transaction status
Innovations notifications
Payment • Payment Hub – Liquidity (RLM): R-Pay RLM (Real-time Liquidity Manager), the product allows addition of
2013 processing channels and gateways even after being deployed
• Payment Hub – Reconciliation (RAFT): RAFT (Reconciliation of Automated Financial Transactions), the
solution helps the banker in reconciling various services transactions
Business Integrations
Systems India Pvt. Trading / Public/
Limited (BISIL) Private markets Taxshax: Online income tax returns filing software for salaried individuals
1990
investing
Busy Infotech Pvt. BUSY Accounting software: provides complete Business management solution for SMEs. Its various module
Limited includes Comprehensive Financial Accounting, Inventory Management, exhaustive Statutory Reports,
1997 Banking Customizable Document Printing, Multi Branch Management and various Checks & Controls
CC Avenues • Payment gateway: Fast, secure and multi- currency Payment Gateway. Invoice payment tool enables creation
and sending of itemized, recurring and bulk invoices in multiple currencies in within a minute
• CCAVENUE S.N.I.P.: The solution facilitates selling of products and collecting payments in-stream across social
2001 Payment networks
processing
• CCAVENUE phonepay: Meant for the enterprise, multi-lingual IVR (Interactive Voice Response System) that
enables secure payments collection over telephone

Year of Product
Key Products
inception Category
Citrus Pay • Citrus Checkout: Allows users to make online payments across Citrus merchant websites,
Payment mobile sites and mobile apps
2011 processing • Project o: Payment gateway solution for merchants
• Citrus cash: App designed for peer-to-peer transactions
Cogencis • Money (flagship product); serves banks and other financial institutions
• MoneyWire: part of Money products, provides coverage of the Indian fixed income and
foreign exchange
Trading / • Equity: products for corporates and individual needs to track equity market
2013 Public/Private
markets investing • EquityWire: part of equity products, provides coverage of Indian stock markets and corporate sector
• Commodity - products designed to meet the demanding needs of customers who are active in commodities
market as well as the economy
• Commodity Wire: provides unmatched coverage of Indian commodities, particularly of agri-commodities
Congruent Solutions • CORE Point Solutions: suite of record keeping products aimed to address specific needs and are easily
deployable to work with existing systems
Document • COREDC: it is a web-based, self-service platform designed for the retirement plan providers in the United
management, States
1998 Trading / Public/
Private markets • CORE Auto Enrolment: a comprehensive solution that integrates multiple systems to provide an innovative
investing electronic platform for auto enrolment for pension
• COREQROPS: provides QROPS (Qualifying Recognized Overseas Pension Schemes) scheme providers with a
robust technology platform to manage members enrolled in their scheme(s) in a streamlined manner
CustomerXPs • Clari5 Enterprise Fraud Management: harnesses the power of extreme real-time BIG Data to revolutionize
Fraud Management in fortune 500 banks
2006 Banking
• Clari5 Customer Experience Management: uses extreme real- time intelligence to empower bank staff and
make customer experiences delightful.

Year of Product
Key Products
inception Category
Citrus Pay • iDEAL: An integrated treasury STP
• Mercury-fx: Helps the organization improve its money changing process efficiency
• CALMs: Comprehensive asset-liability management (ALM) solution
Payment
2011 • CashTrea: Corporate treasury management software
processing
• Riskmark: Robust and scalable market risk management solution
• DEAL Funds: Complete funds and investment management solution
• iDEAL Wealth: A powerful and scalable Wealth Management solution
Dion Global Group • Differentia: an Institution trading, browser-based solution for pricing risk of OTC trading
• TradeCentre: Intelligent retail trading software
• GRC-Enterprise: Risk, compliance and regulation solution
• NOVA: Post trade processing solution
• FATCA-TRAC: FATCA compliance software to support firms in meeting all tax compliance, client onboarding and
Trading / Public/
information-sharing requirements
1994 Private markets
investing • TradeAnywhere: A flexible and scalable retail trading solution for retail traders dealing in equities, derivatives
and commodities
• RateStream: solution for accurate FX and money market calculation
• Portfolio: Intelligent client and portfolio management
• Asset Anywhere: A web-based solution for retail traders, specifically focused on initial public offerings,
mutual funds, bonds and debentures etc.
DirecPay Payment DirecPay: a secure, merchant-centric payment gateway service

2009 processing
EBS Payment Payment gateway solution with payment options including credit card, debit card, net banking, cash card, EMI,
2005 processing invoice

Year of Product
Key Products
inception Category
Effte • Breeze: A low cost, easy to start, secure solution to automate trading
Trading / Public/ • Marketcetera: an open source algorithmic trading platform
2013 Private markets • Compliance Management System: helps in managing frequent changes in regulatory requirements
investing
• Effte open source products for automated trading are: metcConnector, metcAdapter
Eka Software Eka's InSight CM platform supports commodity trading, procurement, risk management, regulatory compliance,
supply chain, operations, logistics, bulk handling, scheduling, processing, accounting, settlement, and decision
Trading / Public/ support for all commodities. Eka's portfolio of solutions include: InSight CM – Agriculture, InSight CM –
2004 Private markets Origination, InSight CM - Supplier Collaboration Portal, InSight CM – Biofuels, InSight CM - Chemicals &
investing Fertilizers, InSight CM – Metals, InSight CM – Concentrates, InSight CM – Coal, InSight CM - Natural Gas, InSight
CM – Power, InSight CM – Oil, InSight CM - Commodity Planning & Procurement, InSight CM - Site Automation
Control
Eko Payment SimpliBank platform: A hosted and managed, low-cost, abridged Core Banking System. Eko is a Business
2007 processing Correspondent and Technology Service Provider to multiple banks
eSoftCircle Pvt. MySmartStocks.com: Smart web-based equity analysis tool. It is the only software based on human behavior
Limited Financial representing the Top-notch Financial Analytics on Indian Equity/Capital Markets.
2001 analytics
Estel Tech Estel Tech provides solution for Mobile Banking, mobile money, Mobile money transfer, E-Recharge, m-POS Micro
1995 Banking
ATM

Year of Product
Key Products
inception Category
ElectraCard Service • electraSWITCH: Integrated payment platform
• electraECOMM: Electronic payment gateway offering secure internet payment infrastructure
• electraMERCHANT: Offers comprehensive support for merchant management
• electraCREDIT: Comprehensive credit card solutions for financial institutions
Payment • electraPREPAID: Feature-rich prepaid card solution, manages and supports various flavors of Prepaid cards
2006 processing such as payroll cards, gift cards, travel cards etc.
& Lending
• electraDEBIT: Flexible and comprehensive solution for all debit cards
• electraGUARD: Rule based online solution for monitoring and prevention of fraudulent transactions
• electraCOLLECT: web-enabled rule based system to support secured and unsecured loans
• electraSECURE: web based authentication method
EMVANTAGE • Payment gateway with payment options as credit cards, debit cards, prepaid cards, net banking
Payment
2012 processing • Mobile payments: Mobile payment gateway, mobile prepaid wallet, mobile NFC payments, swiper solutions,
& Banking IMPS mobile payments
enStage • ACCOSA 3-D Secure: electronic fraud detection and prevention solutions
• Two Factor Authentication (2FA)
• eGuard: In line fraud detection and prevention solution
Payment • Debit cards: Card Management System
1999 processing • PayStage payment gateway: Merchant solutions
• Visa Money Transfer
• Portal-based remittance solution
• WIBMO: Mobile payment solutions

Year of Product
Key Products
inception Category
Evolvus Solutions Pvt. • Mantle Banking Suite: offers products that completely automates a bank's retail operations
Banking &
Limited 2007 Payment • Combat Fraud and Risk Platform
processing • FluxPayDirect: An integrated payment processing platform
ezeclick Payment ezeclick service provides Amex card holders convenient and fast method to transact online
2013 processing
Ezetap Payment Ezetap card reader: Device accepting card payments on mobile or tablets. Ezetap recently launched "Chota ATM"
2011 processing in collaboration with SBI
Fact Solutions India • Fact ERP.NG - ERP Software: comprehensive solution with integrated modules for Financial Accounting,
Pvt Limited Warehousing and Inventory Management, Manufacturing, Fixed Assets Management and Report Writing
1987 Banking module capable of generating over 2,000 MIS reports
• Fact ERP.X: ERP Software
Financial Technologies • DOME: Exchange Trading Platform

(India) Limited • CnS: Post trade solution
• FOVEA: Agile system which enables surveillance of trading activities
• Risk Management: System which provides real time quantification of Value at Risk
Trading / • TRADEDART: Web based trading platform
Public/
Private markets • Market Stream: Meant for exchanges worldwide
1994 • DMATS: Depository for Multi Asset Transaction System
investing,
Banking & • ECS: Exchange customization services
Insurance • aTOM: Leading Payment Service Provider
• Brokerage solutions offered are ODIN, FIX Connect , iWin, eIPO, MATCH, e-Hastakshar
• Tickerplant: Leading global content provider in the financial information and market data services industry
• RiskRaft: Risk solution for banks and Financial Service Industry

Year of Product
Key Products
inception Category
Fino Paytech • Customer Enrolment Solutions: The system allows customers to be enrolled/acquired by bank at their door
step and yet maintains the banking rigor
Banking &
2006 Payment • Operations Solutions: Field Force Monitoring System - managing branchless banking operations
processing • Transactions Processing System: The system caters to both offline and online transactions
• Applications Service Provider Solutions: Core Banking System and Hardware
Fintellix Solutions • Fintellix analytics suite primarily for banks contains flowing solutions: Executive Insights, Customer Insights,
Financial Financial Insights , Risk Insights , Operational Insights, Business Performance Insights, Strategy Insights
analytics, • Fintellix risk suite for banks contains the following solutions: Market Risk, Credit Risk, LCR/NSFR, Interest
2006 Banking & Rate Risk, Value at Risk, Stress Testing
Document
• Fintellix compliance suite for banks contains the following solutions: Regulatory Reporting, FATCA
management
Compliance, ALLL, Asset Quality Management, Risk Based Supervision, Basel II / III , Global Compliance COE
Fortune Payment • Paavati Platform: Secure and scalable payments processing infrastructure enabling banks to acquire
Solutions India Pvt. transactions securely using a variety of devices
Limited Payment
2011 processing • Paavati Gateway: Complete Internet Payment Gateway solution
• Paavati Mobile: Mobile phone based card acceptance terminal
FSS • FSS Card Management solutions are: FSS Debit, FSS Prepaid, FSS Smart Chip
• FSS Merchant: Merchant management solution
Payment • FSS Recon: Reconciliation and Settlement solution
1991 processing & • FSS Mobile Pay: Mobile Payment Solution
Banking • FSS Financial Inclusion solutions are: FSS Micro Pay - FSS eCash , FSS Biometrics
• FSS Value Added Solutions include FSS Bill Pay, FSS Product Cross Sell , FSS Green PIN, FSS Loyalty , FSS
Currency Conver, FSS ATM Monitor

Year of Product
Key Products
inception Category
Globussoft Technologies Zuckup: The platform provides fast and secure way to transfer money to Facebook friends using mobile.
Pvt. Limited Payment
2007 processing
GoFrugal Technologies Accounting Software: Help business get accurate & real-time financial information, analysis of branches &
Pvt. Limited Banking & departments, prevent frauds & revenue leakage and above all distribute activities across users and locations.
2004 Treasury Retail Point of Sale Software: Assures retailers improvement in customer engagement, by helping them source the
right product at right price at the right time.
HCL Tech • Loan IQ: Automates and develops commercial lending business
• HCL Finance Solution: aims to drastically improves effectiveness of finance operations
Banking &
1991 • ALT ASM Framework: systematically identifies and eliminate wastes and complexities in service delivery
Lending
• The micro: verticalized services focus on- Consumer lending, Commercial and Corporate lending, Cards, Trade
Finance, Multi Channel, Treasury, Cash management, Core Banking
Heckyl Trading / Public/ FIND: A real-time news and data analytic platform for investors, traders and researchers.
2010 Private markets FIND suite contains following products: FIND News Analytics, FIND Price Analytics, FIND Deep Search
investing
Hexagon Global • eTHIC: An end-to-end Audit, Risk & Compliance Platform

Banking &
Insurance • Hexagon mPower: An enterprise class next generation investment management product. Covers end-to-end
2012
requirements of the investment management industry comprising of mutual funds, insurance companies and
portfolio management firms

Year of Product
Key Products
inception Category
IBS Fin-tech • Innovative Treasury: offers a modular approach and has the following modules for specific tasks-Currency
Module & Derivatives Module , Money Module, Commodities Module, Bullion Module
• Trade Finance offers solution for Exports, Imports, Licensing, Banking (exports), Letter of Credits (LC
2006 Insurance Management), Gold Loan, Fixed Deposits, Buyer's Credit Management. The various modules are: Innovative
Trade Finance - Enterprise , Innovative Trade Finance – Vanilla, Innovative Export Combo - Export Specific
Treasury Hedging Module , Innovative Import Combo - Import Specific Treasury Hedging Module
icashcard Payment iCASHCARD: a multi-utility pre paid card. It can be used to shop online, buy recharge vouchers for Prepaid Mobile,
2010 processing buying Air / Train Tickets online, making various bill payments online, etc.
ICICI Merchant Payseal: Payment gateway which enables organizations to accept online credit cards payments over the internet
Payment
Services Pvt. Ltd 2009 processing
illustris Software Online Trading& Accounting Software: Provides facility to organize finances in one central place, and get up-to-
Solutions Pvt. Limited 2006 Banking date business information everywhere. Web based accounting solution gives direct access and control over
accounts from desktop
IndiaPay IndiaPay Payment Engine: An enterprise-wide online payment processing platform for routing commercial
Payment
1996 payments between buyers, suppliers and their financial institutions
processing

Year of Product
Key Products
inception Category
Infosys Limited Finacle: Core Banking Software, Finacle partners with banks to simplify banking and arms them with accelerated
1981 Banking innovation to build tomorrow’s bank
Infrasoft OMNIEnterprise: Core banking solution

1995 Banking
Innoviti • uniPay: Payment solution which integrates with in-store billing

• quickEMI: Allows merchants to provide EMI payment options through credit cards and Bajaj finance schemes.
Payment • pgEMI: Allows e-commerce sites to increase average order value through upselling and to improving
2002 processing
conversions
• fastCOLLECT: Allows field collections through cash, cheque, DD, cards and EMI
In-Solution Genius solution suite: provides a single platform where different functions related to card payments are
Global Pvt Ltd Payment performed in an integrated environment. Suite portfolio comprises of solutions that provide end to end coverage
1988 processing for- Debit Card solution, Credit Card solution, Prepaid Card solution, Merchant Acquiring solution, EMV solution,
GLOBAL Switching solution, Reconciliation solution, Bank's Business MIS (BBMIS) solution
IQN • Broker neutral advanced trading platform

Trading / • tradeproCTS: Front-to-back office online trading platform
2005 Public/Private • ActiveCharts: SaaS based powerful charting solution
markets investing • Desktop based products: provides real-time quotes, advanced charting and analysis
• Mobile based products: allows the flexibility to access information on the move

Year of Product
Key Products
inception Category
ISGN • MORvision: Mortgage lending system that automates various activities
• Diamond: Manages the mortgage loan origination process
• Catapult: Cloud based loan origination software (LOS)
• LSAMS (Loan servicing software): A highly dynamic and scalable loan servicing technology
2007 Lending
• Tempo: Complete default management platform and system of record
• The Construction Lender (TCL): Construction loan servicing software
• Gators: Settlement services & vendor management software
• FORTRACS software system: Management of the defaulted loan lifecycle
itzcash • Consumer solutions provided are as follows: ItzCash Prepaid Card , ItzCash DishTV Card (mobile and online
payment options), Money transfer, ItzCash eWallet, ItzGift.in(Gifting Solutions)
• Corporate solutions provided are as follows: Cash management, Online payment gateway, Corporate
Payment disbursements solutions, loyalty and rewards solutions
2006 processing • Government solutions provided are as follows: Disbursements management, collection/receivables
management
• Campus solutions provided are as follows: Campus card, Power to pay (Contactless Prepaid Payment
Instrument)
JMR Infotech India Lead To Loan: An umbrella solution catering to Lead management, Loan origination, Credit scoring, Document
Pvt. Limited 2007 Lending management, Collateral management, User defined work flow based processing, Lending & Leasing operations
and Loan collection
L&T Infotech • AccuRUSI: Product offering aimed at transforming P&C (Property & Casualty) commercial lines underwriting
Insurance &
1997 Document capabilities for an insurance company
management • Unitrax: SaaS-based transfer agency record keeping platform

Year of Product
Key Products
inception Category
KDK Softwares KDK has solutions for accounting and tax filing, the various solutions are as follows
India Pvt. Limited • Zen Products: It is a combination of Zen Income Tax Auditor Edition, Zen e- TDS, Zen Document Manager, Zen
Service Tax, Zen Project Report / CMA, Zen Form Manager & Zen e- AIR
Trading / Public/
2003 Private markets • Zen Plus: It is a combination of Zen Plus eX bace 5, Zen Plus eXBace 10, Zen Plus Spectrum 125, Zen Plus
investing Spectrum 50, Zen Plus PDF Signer, Zen Plus eRoC, Zen Plus TDS, Zen Plus SVT
• VAT Products: R VAT,M VAT,UP, VATWB VAT
• Spectrum: Gold, Gold Plus, Platinum, Platinum plus, Diamond.
Latchiya Software m-Banking: Suite of services for the banking industry, it enables secure and direct multi channel interaction with
Systems 2005 Banking
customers over SMS, WAP and rich phone-based client
Mahindra Comviva • Mobiquity: Mobile financial solution that uses mobile phone to deliver a range of financial and payment
Payment services
1999 processing • PreTUPS: Prepaid recharge solution that supports prepaid business requirements of service providers
• payPLUS: Integrated payment solution that enables mobile phone as a Point-of-Sale (POS) device
Manam Infotech MobeeBank: Complete Mobile Banking and mCommerce Solution. Allows customers to access financial services
Pvt. Limited 2008 Banking through SMS, SmartSMS, USSD, GPRS, IVR, STK and WAP
Mobikwik Mobikwik: Online payment gateway

Payment
2009 processing

Year of Product
Key Products
inception Category
Market Simplified • mBanking suite helps banks engage deeper with their clients and provide a superlative experience on mobile
India Limited • mTrading suite offers various features and benefits including easy integration into existing enterprise
Banking & brokerage backend , Analytics Dashboard, Advanced security features, Alerting Module, state of art charting
2006
Insurance component, SaaS etc.
• mWealth: empowers banks Sales force with the best of tools and capabilities on mobile
Mastek • ElixirAsia: Fast, all round insurance platform in a box

• ElixirAsia Health: A single solution for all back office needs in health insurance
1982 Insurance
• Elixir Distribution Management: An agile approach to managing distribution complexity and dynamism
• Integrated Tax Administration System (ITAS)
Miles Software • Investment management solutions are as follows: MoneyWare Integra (Wealth management system), Futura
Solutions Pvt. Limited (Financial planning), PMS (Portfolio management system), Plutus (Family office), RIMS (Revenue and
Investment management)
• MoneyWare Tradevizor : Trading solution
• MoneyWare Portfolio risk & performance analytics
1999 Insurance & • MoneyWare Fund accounting
Lending • MoneyWare Custody: Custody Solutions
• MoneyWare Business Analytics and Reporting services
• MoneyWare FundWare: Asset Management Solution
• MoneyWare Vantage: Lending Solutions and Collateral Management
Mode Finserver • ModeFinServer - Bank: Mobile Banking Solution

Pvt. Limited Banking & Trading • ModeFinServer – Agency: Mobile based Agency Banking Solution
2011 /Public/Private • ModeFinServer – Web: Retail Internet Banking Solution
markets investing
• ModeFinServer – Wallet: Mobile Wallet Solution
mpurse Payment App providing payment services
2012 processing

Year of Product
Key Products
inception Category
Mrl posnet MRL Pay: Mobile POS Transaction aggregation service
Payment
2008 processing
mswipe MSwipe provides mobile POS solutions. It has the following products -Mswipe Swiper C-Series: C100 and C200,
Payment
2011 processing Mswipe Swiper E-Series: E200, Mswipe Swiper M-Series: M200, Mswipe Wisepad W-Series: W300, Mswipe Android
Phone
Nelito Systems Limited • FinCraft Framework has the following products: Core Banking Solution, MIS-ADF, Anti Money Laundering,
Banking & Reconciliation, Cheque truncation System, Mandate Management system (MMS), Aadhar Payment Bridge
1995 Document System (APBS), Data Archival & Retrieval and CRM
management • FinDart: Data & Reports Archival Solution
• Neilto mobility solutions are: Mobile Banking, Internet Banking, Tablet Banking
• BankingEasy CBS on Cloud: Allows banks to reduce their upfront technology investment
NIIT technologies
• SIMS (Security Incident Monitoring System)
• Governance, Risk and Compliance (GRC) platform
Banking & • AdvantageSuite: modular design provides all the functional requirements for the entire insurance lifecycle
2004 Insurance • Acumen Insurance Analytics Platform: Allows rapid turnaround of data into actionable information
• AdvantageSuite Navigator (Navigator): Combines the capabilities around underwriting, policy
administration, and claims management
• AdvantageSuite Exact (Exact): Enterprise wide exposure management system for insurers

Year of Product
Key Products
inception Category
Nucleus Software • FinnOne Neo: Integrated applications, designed to provide risk management, operational and decision-
making support in lending lifecycle to banks and financial services companies. Modules - CAS (Customer
Banking & Acquisition System), LMS (Loans Management System), FAS ( Finance Against Securities), Mobility Suite,
1986 Lending Advanced Analytics, Collections (Delinquency Management System) and Auto finance suite
• FinnAxia: An integrated global transaction banking solution
• BankONet: Business Internet banking front end interface
Nucsoft • Operations Management Solutions: Customer relationship management (CRM), Cheque truncation solution,
Mandate management solution, Doorstep banking solution
1994 Banking • Risk Solutions: Credit Appraisal system, Credit facility monitoring system, Fund transfer pricing system,
Operational risk management system
• Mobile Solutions: Mobile access platform, AppLink, Auth Hub, IMPS Transaction initiator
Omnesys Technologies • Omnesys NEST suite contains the following products: Order management, Internet trading, Mobile trading
Pvt Ltd (NEST mobile lite, NEST mobile xpress, Options trading suite, NEST Pulse (a comprehensive technical analysis
Trading / tool with advanced charting and indicators; Also offers "tools of the trade"), Backoffice solutions, NEST SAS
Public/Private (Software As Service)
1997 markets
investing • Omnesys trading solutions also include Arbitrage Strategies, Options Strategies, Execution Strategies, Direct
Market Access (DMA) Solutions, Execution Management Systems (EMS) solutions, Smart Order Routing,
Matching Engines
Oxigen Payment • OxiCash Money Transfer Service

2004 processing • OxiCash wallet: wallet, cash card
paymate • PayMate TAP platform: Single unified technology platform that enables seamless monetary transactions like
Payment Transfers, Acceptance, and Payments
2006 processing &
Banking • PayMate Express: One click secure payment solution for businesses and merchants for travel and hospitality
industry

Year of Product
Key Products
inception Category
PayTm Payment Paytm has following solutions: Payment gateway and PayTm wallet
2010 processing
PayU PayU has following payment gateway solutions: PayU (for large Enterprises), PayUMoney (for individuals,
Payment
freelancers, small sellers etc.) The solution has the following facilities: Click checkout, iFrame solution for secure
2011 processing &
collection of card data, Payment analytics, IVR payments and Email Invoicing
Banking
Pennant Technologies • pennApps Finance Factory: Enables clients to define the business processes mapping
• pennApps Islamic Profit Sharing: Configure numerous pools across currencies and other key business
parameters to efficiently manage both the restricted and un-restricted investments
• pennApps Lending Factory: Suite of comprehensive enterprise lending management
• pennApps Bill Pay: Enables banks to offer a fast and secure way to pay bills
2006 Banking • pennApps Host Integrator: Helps effectively integrate the ATM/POS channel with Core Banking System
• pennApps Direct Debit: Empower clients to maximize their operational efficiencies and to offer better control
of the overall Direct Debit life cycle
• pennApps Cross Sell: Allows easy lead management
• pennApps Business Continuity solution
• PFM - Meniga: Personal Finance Management(PFM) Product
Pine Labs • Plutus: Credit/debit card acceptance solution

• Plutus EMI: Solution for offering instant EMI
• Plutus GPRS: Portable GPRS terminal that accepts payment on the go
• Plutus TRM (Transaction Reconciliation Management system)
2004 Payment
processing • Promozone (Print Logo on Charge Slip): Brand Promotion on Charge Slip
• Gift Card: Universal promotion tool
• NOVA: Loyalty Program management service
• Retail Petroleum Solutions (IRIS)

Year of Product
Key Products
inception Category
Polaris Financial Intellect Enterprise Banking Platform has the following products:
Technology Limited • iGTB isGlobal: Transaction Banking Platform
1993 Banking • Intellect iGCB M180: Consumer Banking Platform built on current technologies
• Intellect Quantum CBS: Core Banking Solution for the unique requirements of central banks
• Intellect Integrated Risk & Treasury Management Platform
Risk Edge Solutions Trading / Public/ RiskEdge Software: Easy to use, web based, Energy & Commodity Risk Management Software
2013 Private markets
investing
SunTec Business Xelerate is an advanced revenue management and business assurance platform.
Solutions Pvt. Ltd. 1990 Banking Xelerate product suite has following products: Financial services - Corporate banking, Retail banking,
Investment management, Card services
Surya Software Systems • Surya solutions for financial industry are as follows:
Pvt. Limited • BALM - Bank Asset Liability Management
• FTP - Funds Transfer Pricing Management
• RACE - Risk Analysis and Credit Evaluation
1999 Banking • CARE - Capital Adequacy and Risk Evaluation
• R-CONTROL - Market Risk Measurement
• FAM - Fixed Asset Management is developed especially for banks, it allows management of fixed assets
throughout its lifecycle
Suvidhaa
Payment
2007 Suvidhaa has Online remittance services, as well as app
processing

Year of Product
Key Products
inception Category
Symphony Fin-tech • Presto ATS: Fully automated trading solution
Trading / • Presto Studio: Automated trades solution
Public/Private • Presto Fuse XL: Automates Microsoft Excel based trading strategies
2010 markets • Presto Fuse AB: Algo Trading with AmiBroker based strategies
investing
• Presto Fuse TS: Algo Trading with TradeStation based strategies
• Presto API Solutions: Order Management System & well combined APIs to connect with Indian Exchanges
Tally Solutions Pvt. • Tally.ERP 9: Integrated Support Centre and Security management solution
Limited • Tally.Server 9: Enterprise Class product meant for medium and large size businesses aimed at providing
scalability of their businesses
1986 Banking
• Tally. Developer 9: Comprehensive development environment designed specifically for the TDL (Tally
Definition Language).
• Shoper 9: Meant for retail, capable to handle lakhs of transactions per day
Tarang • Fraud Management: Enterprise wide application to detect fraud transactions

Payment • M-Wallet: Enables consumers to make payments from a native application
2000 processing • Gift & Loyalty: Gift, Loyalty and Prepaid card software on the Point Of Sale terminals for card acceptance
• mChip & Visa: Card side solution, which will sit into the secure element of a mobile phone
TCS Banking,
Insurance,
1968 Trading/Public/ TCS BaNCS: Banking, Capital market and Insurance solutions
Private markets
investing
Transecute • Transaction Support Solutions: supports all VISA/MasterCard Card transactions and also allows anytime
withdrawal of balance
Payment
2009 processing • Integration Solutions: Allows integration of website with payment gateway.
• MIS Interface Solutions: Web-based interface to customize payment pages

Year of Product
Key Products
inception Category
TechProcess Payment • CustomerCenter: Provides dashboards & reports, Analytics & Validation Services, etc. for managing large
Services volume collections across multiple modes
• BankCenter: Offers a multi-institution payment option
Payment • FeesJunction: Platform to collect and reconcile fees received from various modes and channels
2000 processing • TechPro Enabler: Enables Financial Distributor to offer online services on a completely hosted model
• Scheduled payment solutions include: Electronic Clearing Service, Automated Clearing House (ACH)
• Real-Time payments solutions includes: Online payment gateway; Bill payments and Immediate Payment
System (IMPS)
Transpure Solutions
Pvt. Limited RemitLive: Web based remittance platform enabling multi currency and multi country remittance transactions
Payment
2011 processing
uTrade • Trading Platform, uTrade: Multi-asset trading platform offering a web & application based trading front end
for various Indian and International markets
Trading /
2011 Public/Private • Algo Trading, muTrade: High frequency trading platform delivered with various automated algorithms
markets investing • Analytics, Money uTrade: Enables detailed portfolio and trading analytics and content sharing
• Customization, uTrade customization: Integrate products with the existing technologies
Version Systems
Pvt. Limited
2008 Banking TRUSTe: PF TRUST Software /Provident Fund Trust Software/PF accounting software
Paisapay
Payment
2012 eBay India owned, safe & secure payment service
processing

Year of Product
Key Products
inception Category
Vsoft Technologies
Pvt. Ltd SuVikas Core Banking Solution: A comprehensive core banking solution for co-operative banks built on advanced
1996 Banking
web technologies
Wipro • Banking As a Shared Service (BASS): Core Banking Solution / Platform, Transactional Banking Platform and
Banking Analytics Platform
• Wipro Gallagher Solutions (WGS): end-to-end mortgage fulfillment, Customer Acquisition Management
Solutions, Loan Modification Portal solution
Banking & • PayCenter: Centralize the payments infrastructure to gain customer insight
1990
Insurance
• Wipro has following Insurance solutions: Sales and Distribution Management solutions, Policy Lifecycle
Management, Claims Transformation solutions, Performance Management solutions, Risk Engineering
Solution
• It also has solutions aimed at Securities and Capital Market
Zaakpay Payment • WebPay: An online credit, debit card & internet banking processing gateway
2011 processing &
Banking • Mpay: Enables collection of credit card, debit card & netbanking payments on the mobile
Zipcash Payment
2007 Mobile Payment System that allows payments from phone through simple SMS service
processing
Hexaware • Banking solutions include Retail Banking Software Services, Card Payment Analytics, Corporate Banking
Software Services, CRM etc.
• Asset management & Capital Markets solutions include Insurance Asset Management, Investment Data
Management etc.
Financial • Insurance solutions include Insurance product selection and implementation center (iPSIC), Channel
1990 analytics Management System, Underwriting Solution, Claims Management System, Insurance Analytics, Fraud
Analytics etc.
• Product Partnership: eBaoTech(Global Life and Non Life solution), Herald Logic(Insurance Channel
Management solution)

Year of Product
Key Products
inception Category
Chillr
Payment • Mobile Payments, Mobile Banking- Chillr is a revolutionary app thats lets you send money directly between
2014 processing bank accounts using just the mobile number.
Tavaga • Tavaga brings you personalised investment plans, portfolio ideas from leading professional money managers
2015 Trading and powerful market instruments such as ETFs and at the same time allowing you control of your money
Prizm Payments • India’s largest payment solution provider recently acquired by Hitachi Payment Services in 2013
( Acquired by Hitachi
2008 Payment
Payment Services)
processing
Happay • Happay is one of the most innovative and game changing startups in the Indian payment industry. Our vision is
to make payments a happy experience for businesses and consumers.
Payment
2012 Our new product for businesses is an innovative and first of its kind expense management solution that
processing
streamlines your company's expense workflow from end-to-end (expense reporting to accounting) and gives
you real-time visibility and control over business spending
Poolwallet • PoolWallet is a split payment platform that allows user to create pools and online real-time sharing of expense
• Paying for shared services – cab / food / travel/healthcare/shopping/movie
Payment • Paying for a product online by combining balance from user’s multiple cards as partial payments.
2015 processing Corporate gif ting in teams Individual wish list (baby shower / wedding / Festivals)
Sharing of healthcare cost for families.

Year of Product
Key Products
inception Category
Capitalfloat • Working Capital Finance, Small Business Lending, Digital Finance, Fin-Tech, ecommerce loans
2013 Lending
NovoPay • Banking Payments- Novopay pioneers a new way of electronic transactions at Retail empowering businesses,
Payment merchants and consumers with technology forward solutions
2014 processing
Momoe • Momoe enables people to pay on their mobile phones. Momoe is a location aware smart phone app. People can
Payment pay on Momoe with their existing credit cards & debit cards
2014 processing
IKaaz Payment • Mobile payments, NFC, EMV Reader, Mobile POS, Low cost NFC Reader, Change Any phone to NFC Reader,
2012 processing Payments Platform, Tap and Pay, Mobile Wallet, Merchant Mobile Payment Platform
AirtimeUp Payment • AirtimeUp provides an optimized and cost-effective solution for village retailers to perform mobile top ups
2014 processing and additional services for village consumers
FineTrain
• Simpler, hassle free Business Loans for Small Businesses from multiple lenders. No additional charges.
2011 Lending
Building Credit Scores.
ftcash Payment • ftcash enables micromerchants to offer payments and promotions to customers through a mobile based
2015 processing platform.

Year of Product
Key Products
inception Category
GyanDhan • We are an education financing marketplace, wherein we gather and curate students using our internal risk
2015 Lending scoring model. This enables lenders - both institutions and individuals - to finance the students of their
choice, either through loans or scholarships.
HummingBill Payment • Hummingbill is making it easier and more profitable for businesses to sell their subscription products and
2014 processing services
Kyash Payment • Kyash provides the simple and secure automated method to collect cash payments throughout India.
2012 processing
Profitbooks
Banking • ProfitBooks is an online accounting software designed for non-accountants
2010
Shiksha Finance • Shiksha Financial Services is a finance company that provides school student education loans and loans to
2014 Lending educational institutions for asset creation and infrastructure.
Vote for Cash • Vote4Cash is an online lending platform where loans are provided based on a social score, without collateral or
- Lending guarantor.

International Youth Centre, Teen Murti Marg, Chanakyapuri, New Delhi – 110 021, India
Phone: +91-11-23010199, Fax: +91-11-23015452, E-mail: research@nasscom.in
Website: www.nasscom.com

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Indian Fin-tech Products

Indian Fin-tech Products - Innovation Driving Growth 2

Indian Fin-tech Products - Innovation Driving Growth 3

1 A growing ecosystem with young breed of start-ups ~200 Fin-tech

2 Growing market opportunity ~USD 8 bn

3 Acceleration in funding USD ~420 mn

Birth of new segments – Payment processing ~60%

Indian Fin-tech software market is estimated to cross >2X

Indian Fin-tech Products - Innovation Driving Growth 4

100% = USD 32 billion (2015)

• Risk management 47%

Indian Fin-tech Products - Innovation Driving Growth 5

Proliferation of connected devices Emergence of niche Fin-tech startups: To cater to

Digital savvy consumer seeking new

Rise of innovative low cost Fin-tech solutions:

Source: Deloitte Analysis, Analyst Reports, Gartner, NASSCOM

Indian Fin-tech Products - Innovation Driving Growth 6

Business Lending software Document Payment solutions

Indian Fin-tech Products - Innovation Driving Growth 7

Mid sized firms ~38-42%*

Integrated firms ~28-33%*

Indian Fin-tech Products - Innovation Driving Growth 8

Growing Technologies • Mobile wallet

Time to achieve maturity

Indian Fin-tech Products - Innovation Driving Growth 9

• PayUMoney Payment solution

5. Empowering Sales Force • Document Cleansing Solution

Indian Fin-tech Products - Innovation Driving Growth 10

Payment processing Trading

ATM & POS Services Remittance Cash cards

Document management Insurance Financial analytics Lending

Source: Deloitte Analysis, NASSCOM

Indian Fin-tech Products - Innovation Driving Growth 11

Transaction gateways • Improvement in service level by utilizing analytics

• Expansion in portfolio of services: Partnerships

• Focus on innovative business model to reduce time

• Huge growth for prepaid gift cards

• Increasing demand for trading platform on the

*~110 unique companies providing Fin-tech solutions are evaluated

Indian Fin-tech Products - Innovation Driving Growth 12

• Emerging banks are looking for cloud based

• Mobile banking solutions for different operating

• Large scale deployment of Apps on mobile/tablet

• Rise in demand of lending systems that fully

*~110 unique companies providing Fin-tech solutions are evaluated

Indian Fin-tech Products - Innovation Driving Growth 13

Document Document management • Banking and financial services harnessing the

Financial • Focus on providing personalized experience to

*~110 unique companies providing Fin-tech solutions are evaluated

Indian Fin-tech Products - Innovation Driving Growth 14

Source: Deloitte Analysis yourstory, livemint,

Indian Fin-tech Products - Innovation Driving Growth 15

Key Facts & Analysis

Examine • Personal Finance Management/ PFM is a one stop online platform

Source: Deloitte Analysis, Forrester, TCS, onecentatatime.com, iamwire.com

Indian Fin-tech Products - Innovation Driving Growth 16

• High focus on Transaction

Indian Fin-tech Products - Innovation Driving Growth 17

Government Next Gen

Top verticals served by each segment

Banking Payment Processing Trading Insurance

Lending Document Management Financial Analytics