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Altair Banking on new technology to drive digital transformation in Indian BFSI market

October 09, 2023

Altair Banking on new technology to drive digital transformation in Indian BFSI market
Altair, the global solution provider has nearly ₹500 crore worth revenue exposure in Indian market currently and has been growing steadily, close to 20% growth. India is the single largest location for Altair, in terms of employees, with over 25% of the employees based in the country. The company has some aggressive growth projection and is looking to latch on to new technology and capitalise on potentia opportunity, especially in the Indian banking and finance space.

Speaking exclusively to Financial Express Online, Dylan Tancil – Global Director, BFSI, Altair and Sudhir Padaki – APAC Director, Altair shared how they expect the BFSI business for the company to share trajectory similar to their other endeavours, especially in terms of digital transformation.
 
Tancil outlined how “Altair has played a role globally with banks in the space of digital transformation. There is so much data being generated with these billions of digital transactions (91 billion digital transactions as per NPCI in 2022-2023) that every financial company wants to leverage and get valuable insights out of it. Our Data-Analytics and AI solutions are made to help these companies build a data-driven future to drive efficiencies, better customer experience and reduce risk. So there’s a lot of opportunity in the work that we do in any region of the world for us to really accelerate with our partners in India.”
 
Altair is focussing on helping banks, lending institutions and fintechs with data-driven lending across India. Currently in India, about 63% of India’s adult population is credit unserved and another 19% is underserved. This is as per a TransUnion study. 
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