Afternoon D & C Dedicated To Mumbai
Home > Business > Solutions For The BFS Market

Solutions For The BFS Market

Tuesday, March 13, 2018

Punit Jain has 28 years’ of rich experience in the IT and BPO industry in which he has successfully managed global sales teams, set-up delivery systems, managed product development and quality systems in various organizations. Prior to joining Nelito, Punit was associated with organizations like Datamatics, Newgen, Modi Xerox, Mafatlal Micron and DGP Windsor in various management leadership roles.

Punit holds an MBA from IIM-Bangalore and engineering degree from IIT-Mumbai. Punit is also elected number of NASSCOM’s Domestic sector council for 2017-2019. He plays lawn tennis and is an active marathon runner.

Punit took over the reins of Nelito Systems as CEO in Feb 2013. At that time, company was struggling for avenues of growth as its traditional domestic business segments and models were strained. Over the last four years, Punit has turned around Nelito by successfully finding niches and business models in the BFS segment in domestic as well as international markets. He had brought Nelito to higher profitability by simplified management structure, more professional marketing & sales and streamlined company's processes.

In conversation with Dominic Rebello, Punit says, “Our strategy is to focus on Banks, NBFCs, MFIs and other financial sectors.”

What has been Nelito's journey so far, its core specialisation and most important markets?
Nelito has been serving the banking and financial services market with its product and services for around for 22 years. We have more than 200 customers in 16 countries across 4 continents, 1200 employees spread across more than 45 locations in India. Our core specialisation is in product and software services for banking and financial services.

Our products include Core Banking System, Integrated Lending Management Solution, Core Microfinance Solution, Data Warehousing, Analytics Solutions, Mobility solutions and services like Finacle CBS implementation and support, SWIFT implementation and support, Infrastructure Management Services and L1, L2 support. The most important markets are Banking and Financial Services industry in India and emerging countries in Asia and Africa.

What are the latest trends in the Fintech industry where Nelito has been most successful and what is the strategy the management has adopted for near term future?
Nelito has been most successful in providing Integrated Lending Management Solution to NBFCs, MFIs and providing Data Warehousing, Regulatory Reporting for banks. We also provide IT services for Banks and other financial organisations. Our strategy is to focus on Banks, NBFCs, MFIs and other financial sectors.

Are there any expansion plans?
Yes! We are exploring the US and South East Asia markets along with DTS Corporation Japan. We see a big market for our lending solution so that will make us expand.

The growing impact of fintech on the financial industry; especially from financial inclusion per se?
Recently reported frauds in banks calls out banks to take steps to prevent such frauds and strengthen their IT-systems including integration with Core Banking System and SWIFT where Nelito is positioned very well with capabilities in SWIFT as well as Core Banking. Nelito’s strength is in providing software for the financial inclusion also.    

Tell us about the Blockchain Technology in Banking & Finance?
Blockchain is a powerful technology that enables Bitcoin, Litecoin, Dogecoin, and other virtual currencies to be open, anonymous, and secure. The blockchain essentially is a database about every Bitcoin transaction in detail. Usually known as a “public ledger,” the log contains metadata about when and how each transaction took place. The ledger is publicly accessible through APIs and torrent sites. To prevent tampering with current and also past transactions, the database is cryptographically secured. Nelito is building capabilities in blockchain and is engaging with its customers in India and also exploring markets in US for building solutions based on this technology.


No Comments Posted
City news
‘Snuff’ out seven peddlers; MD, ganja worth lakhs
Even as the relatives of the three workers ...
Taking the cue from BEST Workers' Union leader ...
My wife is reluctant to try different positions d
Dr. Rajan B. Bhonsle, M.D. (Bom)
Consulting Sex Therapist & Counsellor
Dr. (Mrs.) Minnu R. Bhonsle, Ph.D.
Consulting Psychotherapist & Counsellor
Select Sun sign:
Aries (Mar 21 - Apr 20)
Aries (Mar 21 - Apr 20)You are likely to remain careful and watchful today, foretells Ganesha. And because you'll be invited to parties and other social events, your enthusiasm will remain buoyant. You will also strike the right balance between business and pleasure, says Ganesha.
- Advertising -
Read More