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“We believe in Creative problem solving for BFSI!”

Image InfoSystems is focused on building products and solutions for the BFSI industry. They also focus on open standards, formats and technologies which allows easy integration with other products and applications. Ms. Archana Kumar, Director, Image InfoSystems, in an exclusive interaction with Newspool shared how open Standards based product development strategy and in-house components building reduces dependency. This ensures that there is “No Dependence on any Third-party components”. By becoming the GST Suvidha Provider (GSP) by Goods and Services Tax Network (GSTN), it is enabling the taxpayer to ensure timely compliance with the provision of the GST law. Excerpts…

Can you share light on Image Infosystems positioning? 
We at Image InfoSystems maintain a strong  focus on BFSI vertical. We want to be recognised as the undisputed leader amongst software solution providers, worldwide. We are known for creating a unique blend of best of breed technologies, best of class skilled professionals, supported by the best of management practices and driven by International Quality Standards.

Our quality policy is to deliver products and relevant services with zero defects, in time, every time to the complete satisfaction of the customer.

You have worked for implementing VAT for Gulf market. Do you have anything to share about GST implementation in India? 
ExpressTXR, our tax compliance solution has been exclusively tailored to address the VAT and GST requirements in UAE and India market respectively. We have live installations in both these geographies. In fact, last year, we have been selected as a GST Suvidha Provider for the GST Network in India. Hence, we are one of the very few companies who can offer an end to end user model, ASP as well as GSP. We are participating in this effort with the respective governments with full earnest.

With IoT the most trending technology, how are you participating?
The Internet of Things (IoT) is defined as a way for devices that are connected to the Internet to communicate and share information with other ‘smart’ devices in real time. Our technology team is working on various concept based on the latest technologies, however, we have not yet announced any product in this domain.

Do you think it’s easy for IoT to penetrate in India?
Penetration of IoT in India is primarily dependent on the research, making and manufacturing of such devices in India.

The escalation in the era of IoT was dramatically witnessed in the years around 2010 when internet connections started to pick up exponentially and machines and things began to take over the manual mode of working. If we consider the huge numbers that the IoT industry is being linked to, it’s evident that the industry is definitely rising today.

Share details of your presence. How big is your team? 
BFSI sector in India is valued at Rs. 81 trillion and is likely to become fifth largest in the world by year 2020 and third largest by year 2025. For us it is a great – not to be missed opportunity. All our efforts go into tapping the opportunities. As per APAC CIO Outlook, we have been listed amongst the top 25 Banking Solution providers in the region. We are one of the leading providers of payment processing and settlement systems to the BFSI sector in India. ExpressClear, our interbank payment transaction processing and settlement platform processes over 25% of the daily transaction volume in the country. Some of our key customers in India are HDFC Bank, Yes Bank, PMC Bank, IDBI Bank and a few major new Bank licensees.

We have a global presence through offices in India, Philippines, Tanzania, Kenya and UAE.
Our team size is 130+ as on date.

Any expansion plans in terms of hiring or new office/ new location? 
We have recently opened a new development center in Cochin. With new prospects, turning to projects, we look forward to expansions in terms of manpower and global offices.

What is the USP of Image Infosystems? 
We do not stop at the first possible solution but probe all the possible sources and look beyond the obvious. We strongly rely on the below factors that has been helping us win the games:

  • Strong Domain Expertise
  • Total IPR Ownership
  • No dependence on any 3rd party
  • Strong Technology team
  • Staying power in a vast market
  • Constant innovation and R&D
  • Proven Solutions
  • Record Performance
  • Rich Features
  • Strong Roadmap