FinEng Solutions Private Limited was formed in 2000 by
three management professionals working in the financial
services sector. India was known at that time for its software
services; not many software companies were focusing on building
products. The vision of the founders was to build international
quality products having a ‘Made in India’ tag.
Further, they wanted to focus on the financial services
vertical, as between them, they had a combined experience
of over 20 years in this sector. With this aim in mind,
Quantis was launched in 2001, its first client being Franklin
Templeton. Franklin Templeton’s Fixed Income Head
needed an application through which a variety of complex
instruments could be traded. Quantis was developed keeping
his requirements in mind and very quickly was bought by
Prudential ICICI, Birla and HDFC, three premier mutual funds
in India at that time. Other asset classes were soon added
and Quantis quickly established itself as a market leader
in the institutional funds management space, especially
amongst the mutual funds. Its client list today includes
most of India’s blue chip mutual fund houses and there
are now plans to market it overseas.
FinEng’s second product, Telesto, was born in 2003
out of a requirement for a wealth management application
for HSBC. FinEng realized that the wealth management practice
in most parts of the world was in its infancy and a product
in this area would be a powerful proposition. Few advisors
had the capability to provide consolidated portfolio reporting,
i.e. a single portfolio view for a customer across all investments
and asset classes. Telesto, called WMS earlier, was successfully
deployed at HSBC and has ridden the wealth management wave,
especially in the last 2 years. It is now a fully integrated
wealth management application and is a market leader in
India, with increasing presence overseas. Its clients include
many blue chip multinational banks which are using Telesto
in multiple countries.
Sensing an opportunity in the credit risk analysis and
Basel II domain, FinEng launched CRx in 2007 where it received
quick acceptance overseas in Kuwait. The product capability
is currently being expanded in consultation with existing
clients and FinEng expects this to be another winner.
FinEng began its operations in 2000 with a small dedicated
team with which it built Quantis in 2001. Over the years,
FinEng has grown in size while retaining its compactness.
In June 2008, 3i Infotech (3i), a premier Indian software
solutions company, acquired a 51% stake in FinEng, helping
FinEng leverage on 3i’s global sales and support infrastructure
to make its products truly international.
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