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3i Infotech scopes out financial firms

Nafid Imran Ahmed
Indian software giant 3i Infotech opened its office in Dhaka on Sunday to work with financial and insurance companies in Bangladesh.
The company is the first multinational Indian IT solution and service provider to open an office in Dhaka.
In an interview with The Daily Star, Anirudh Prabhakaran, executive director and president of 3i Infotech in South Asia, shared the company’s vision and strategies.
"We are extremely happy to open our office in Bangladesh and proud of the fact that we are the first Indian technology organisation to have our office in the country as compared to working on projects,” Prabhakaran said.
"We have already been working with a few customers in Bangladesh and we had our exposure to the market opportunities."
"We have seen the financial markets growing well and the use of technology being adapted in varying degrees and felt that we could have a mutually win-win situation. As most of the banks and insurance companies have their headquarters in Dhaka, we too have set up our office in Dhaka,” he added.
Asked about the company's plan for Bangladesh, Prabhakaran said: "We arc here in Bangladesh for the longterm. We are willing to work with the banks and insurance companies and have products designed to fit the local market and its characteristics.”
At present, 3i Infotech is working for Basic Bank and Brae Bank.
"There is no end to technology and innovation, specially when it comes to adapting for changing market and customer needs. Even if a bank's activity is limited to core banking, it would still need private banking solutions for wealth management, treasury, asset liability and anti-money laundering,” Prabhakaran said.
"As the capital markets mature, mutual funds could be launched and we have related solutions. As we are interested in the long-term, we believe that there is a good opportunity in the offing," he added.
"We have experience of working in several developing and emerging markets in Africa and Asia. We have seen that each market has its own unique requirements,” said Prabhakaran.
"Our experience tells us that we need global products with local adaptations. Bangladesh has a well-developed telecommunications system. We are sure that increased adaptation of technology by financial institutions would help the ICT industry grow in Bangladesh."