Former techies change core banking to prepare for AI era-YourStory
Indian banks are expected to spend close to $9.1 billion in digital transformation and i-exceed has worked with 20 local banks and 35 global financial institutions to prepare for change.
With a collective experience of more than 75 years, Joseph John, Sundararajan S, and Kapil Gupta spent two decades in building a large IT product company, i-flex Solutions, in the banking industry before they started up in 2011. Why did they do it?
As long-time employees, they made good money when Oracle announced that they would acquire the company in 2010. The acquisition was completed in 2010 after announcing it in 2005. These tech veterans who had by now seen the evolution of the banking industry from mainframes to mini-computers to virtualisation to cloud computing decided that the future of banking was going mobile.
“We began investing in mobile-based technologies because it was the logical bet with the proliferation of devices. Consumer applications would soon redefine banking,” says S Sundararajan, Co-founder and Executive Director of the company.