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Acies Consulting Pte Ltd and Jackstien Practices & Consulting International LLP have entered into a JV to service the increasing technology needs of the BFSI sector which spends upwards of INR 75000 crores annually, a figure that will spike as the sector rises to the challenges posed by FinTech.
With plans to grow to a USD 350 million entity in under five years, the JV will focus on high-quality systems, intelligently designed by industry stalwarts to surpass international best practices.
This new venture will help in demonstrating how technology platforms can be expertly and thoughtfully designed to revamp operational management and control, decision making, regulatory compliance, market risks, customer experience, and cost of operations. This venture will be led by Nishant Shah, a Financial Services industry veteran and award-winning senior international banker having more than 20 years of diverse experience across multiple global banks.
Speaking on the partnership, Nishant Shah said, “Over the years across the industry, I have seen systems convert their users into near-hostages. We intend to return power to the users alongside longevity, flexibility, and, above all, thoughtful quality. The solutions and applications we will bring to the market over the next few months will merge controls with innovation, accommodate tomorrow’s changes, promote high standards of governance in regulated entities, bring down the cost of control and compliance and enhance operational efficacy,” He added.
“This venture allows us to deliver on our goal of helping deliver high-quality technology transformation in a cost-effective and sustainable manner. Working with Jackstien helps bring together decades of international experience and expertise with cutting-edge technology to transform the enterprise technology landscape in the Financial Services industry,” Muzammil Patel, Global Head Strategy and Corporate Finance at Acies added.