Headquartered in Mumbai, the company has its roots nearly going back two-and-a-half decades to the year 1993, when it was called ICICI Investor Services, with expertise in business transformation through IT.
1999 was the time when the Indian IT industry was almost frenzied about solving the Y2k puzzle; in September that year, the company also forayed into the same market. A round of re-christening was in order as the name changed to ICICI Infotech. Though it must me said here, ICICI Infotech was slightly disadvantaged because of its late entry. By then, some of the ‘biggies’ had already captured a sizeable chunk of the Y2K market, after having started out during the mid-90s. This naturally proved a tad challenging for a new entrant, often as is the case.
Relentlessly, the company pressed on. By 2000, it was already offering specific products in this space and because of the ICICI parentage, was able to uniquely provide specific domain expertise as well. This eventually led to similar work being garnered from other group companies and creating a niche. As the company gained a stronger foothold, it went into an acquisition spree. Today, it’s one of the few companies which has both products (35%) and services (65%) in its portfolio.
Finally, in 2007 – 08, the company changed its name again to what it is currently – 3i Infotech, and had entered the BFSI sector rather significantly. Presently, it has more than 20 IPR to its name, and here’s a brief look at the top 5 – call it the flagship IPRs:
- Amlock - an integrated web-based Anti-Money Laundering and Financial Crime detection and management solution for Banks and Financial institutions. Notably, it is used by more than 45 banks. As recent as 12th of April this year, the legendary F C Kohli awarded Amlock among the topmost IT products for BFSI, on behalf of IMC.
- MFund - a multi-currency, multi-funds portfolio accounting, valuation, and performance evaluation system catering to the operational needs of investment managers, portfolio managers, insurance companies, mutual funds, unit trusts, and investment management companies.
- Premia – “A leading insurance product east of Greenwich” is how Padmanabhan Iyer describes Premia with a lot of pride. It spans across a range – general, life, health & group insurance.
- Kastle Universal Lending Systems - a comprehensive solution for banks and financial institutions. Through a centralized database and a browser based application, Banks & FIs can integrate different touch-points in the supply chain for loan processing. It is targeted at significantly improving the process efficiencies of banks and finance companies that are engaged in Retail, SME & Corporate Financing. It is used across the world from Asia Pacific to Africa with a leadership position in the Kingdom of Saudi Arabia and significant presence in Africa.
- Orion ERP – aligns business segments to work in a synchronized manner. Used by more than 500 customers globally.
In addition 3i Infotech provides horizontal services like scanning solutions, which cuts across the wide product range.
In Services the array is just as impressive: Application Development & Maintenance, Infrastructure Management, BPO etc.