Head Office: Tower #5, 3rd to 6th Floors, International Infotech Park, Vashi, Navi Mumbai, Maharashtra Tel: +91 22 6792 8000 Email: marketing@3i-infotech.com Other Offices: US, UK, Kenya, Saudi Arabia, UAE, Kazakhstan, Bahrain, India, China, Singapore, Malaysia, Thailand, South Africa Website: www.3i-infotech.com Contact: Prathmesh Raje, corporate marketing, prathmesh.raje@3i-infotech.com Founded: 1993 Ownership: Listed on Bombay Stock Exchange, 58.9 Per cent publicly owned; Banks hold majority of private stake Number of staff: 11,935


Life as 3i Infotech


ICICI Infotech was rebranded as 3i Infotech in 2005. In April 2006, it acquired the intellectual property rights to Newton. Under the terms of the deal, IMS would continue to sell Newton in Korea and Japan but 3i Infotech would sell it elsewhere. In the past, 3i Infotech had done a fair amount of development work on the system and this had been passed back to IMS. It was understood that this was to happen one more time with the current version, 3.5, after which the two companies intended to go their separate ways with the system. In fact, IMS as a whole went under; 3i Infotech retained the old system. In terms of Kastle Treasury expanding from its domestic


banking roots, the recruitment of Deutsche Bank in India in early 2001 was a step in the right direction, with the bank live in April and supposedly considering a wider use of the system. A first non-Indian user was gained in August 2001 in the form of Seylan Bank in Sri Lanka. This win was followed soon after by two in the Middle East, one for Kastle and the other for the Tangible factoring system, at RAK Bank and Emirates Bank respectively. In each case, as with Centurion Bank, the systems were taken to reside with Equation. Other deals in Sri Lanka followed and, in 2004, there was a first success in Abu Dhabi, from Abu Dhabi Investment Company. 3i Infotech suffered a blow towards the end of the year as the first taker of Kastle Treasury (Centurion Bank) opted for Ideal from Credence Analytics, with the desire for a single front-to- back office solution cited as the main reason. The asset liability management system, originally Pinnacle, was launched shortly after Kastle and taken by a number of domestic Indian banks, plus the Indian operation of Bank of Bahrain & Kuwait (BBK). It also went live at a couple of sites in Sri Lanka,Thailand and Tanzania. It supports a range of risk measurement activities, including gap analysis and mark-to-market. It has a standard gateway so can take data from a range of sources, including a bank’s general ledger and Kastle. A fair proportion of Kastle Treasury takers have the asset liability management product as well. The acquisition towards the end of 2005 of Hyderabad-


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based SDG Software Technologies brought, among other things, an anti-money laundering application, BankAlert, subsequently rebranded as AMLock and now Kastle Anti- Money Laundering. 3i Infotech’s AML offerings produced a strong showing in late 2007 and into 2008. Reacting to regulatory pressure, a clutch of Philippine banks selected the vendor, including the Philippine operations of Maybank, United Coconut Planters Bank and Metro Bank. The latter became the vendor’s largest AML win at the time, valued at $700,000. Also in the Philippines, the Philippine Stock Exchange signed for 3i Infotech’s surveillance system, Awacs. For these deals, 3i Infotech competed with the likes of SAS, NetEconomy, Gifts Software and STB Systems. The vendor started to give weight to iBOSS in 2008 in Asia


Pacific. APEC Securities in Vietnam signed for it in April of that year, to become the second in the region, while two other institutions in the country were expected to follow. The first in the region was Bank Mandiri Securities a couple of years earlier, although this was considered a ‘one-off’. Between the acquisition of SDG and the start of 2008, 3i Infotech had been working on customisation and localisation for Vietnam. The country has been targeted because of the highly active state of the market.


On the lending side, Triton (now Kastle Universal


Lending) was another Indian acquisition of a small company and started out as an origination system. Loan management and collections support was added, with the pilot site for these being Bank Muamalat in Malaysia. This site apparently saw the addition of wider banking support. During 2005 and 2006, there were a number of wins for Triton. These included Malaysia-based Hong Leong Bank, which took the system for both regular and Islamic banking, and, in April 2006, another Malaysia-based customer, Credit Guarantee Corporation (CGC). CGC was owned by the Malaysian government and was used by the Malaysian banks to refinance their portfolios. CGC took Triton for the lifecycle management of these loans. As part of its bid to make its presence felt further afield,


two new offices were opened, in Thailand and, in 2005, in Kazakhstan. The supplier made good progress in the latter country in the years 2005 and 2006, with wins at Valut-Transit


Back Office Systems & Suppliers (BOSS) | www.ibsintelligence.com


company details


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