The global economic and finance industry has seen some major swings both upwards and downwards in the past decade. The economic slowdown and the Euro zone crisis have affected the financial markets throughout the globe at varying magnitudes. The Asia Pacific region was no exception, though the extent of austerity was comparatively less than most European and American nations. It was also a time when major players in global financial services were poised with competition from the local and relatively smaller financial service providers. The middle class economy saw a boost and became a key player in economy. The time was ripe for Puratech Solutions (India) Pvt. Ltd to build its brand and position itself amongst the veteran financial payers in the market.
The flagship products by Puratech includes the eSeries Product Suite comprising of Commodity Based Financing (eCBF), Inventory Funding (eIFS), Supply Chain Finance (eCF) and Business Correspondent Banking (eBCS)
Puratech Solutions, which was already in the market as a partnership company, formally positioned itself as a Private Limited Company in 2008. Withstanding the global (something is missing ???) Vishal Shah and Mukund Sivasubramaniam, the Founding Directors of Puratech Solutions, materialized their vision of setting up a Product based solution provider rather than just being a service based IT company. “Our thrust has been to provide out of the Box solutions that meets major of the customer requirements that would also bring in the best of the industry processes along with it thus reducing the implementation time”, elucidates Mukund. The directors realized the tremendous potential and a glaring lag in services beyond core banking and generic BFSI solutions. Puratech thus aims at cashing on the potentials and bridging the gaps with a wide range of customized and high tech solutions. The flagship products by Puratech include the eSeries Product Suite comprising of Commodity Based Financing (eCBF), Inventory Funding (eIFS), Supply Chain Finance (eCF) and Business Correspondent Banking (eBCS).
The clientele of Puratech in the financial services sector are the major banks and financial institutions. Among the celebrated clientele are names like ICICI Bank, HDFC Bank, Citi Bank, Kotak Mahindra, Axis Bank, Induslnd Bank and so on. Banks are always confronted with challenges in time bound services and penetration of markets due to the ever increasing competitions from the BFSI eco system. Managing and monitoring loan assets adds to the menaces. It has evolved as a major player amongst the financial solution providers, with impeccable quality and delivery commitments coupled with cost competitiveness, faster project implantation and TAT, Puratech has been marching boldly towards the epitome of success. The services provided by Puratech have already been recognized by most of the top-tier banks.
The directors at Puratech, who have been rendering connoisseur services across several other domains, have perceived tremendous potential not only in the BFSI sector but also in travel segment. Puratech has been leading its way in the market by delivering phenomenal services gilded with advanced tech savvy approaches. Their proficiency and customer centric business approach has earned them name, fame and business. Puratech has been featured as a promising Financial Solution provider by a top ranking magazine. They have plans to expand their territory both in terms of services and geography. “We are constantly evolving the products to be offered to our clients in BFSI segment. We are also working on applications that can be offered on mobile platform that can be offered to our existing clients”, said Mukund as he wrapped up the conversation.