Shaping the future of finance as a ‘fin-tech Enabler’: Finoux Solutions Pvt. Ltd.
The Financial Services Industry has continued to be a key constituent of global economies since many decades. Technology made its advent in the financial spectrum long time ago with many innovations nestling and founding their place as innovative tools of business. Disruption swayed in with the implementation of automated teller machines (ATM) and then came the evolution of one of the most-watched technology right now- Financial Technology; when technology blends with financial services with a vision to deliver unparalleled efficiency. In a short number of years, Fintech industry has mushroomed while combining innovative business models and technology to enable, enhance and disrupt financial services. The last decade and half can be dedicated to the Internetification of Business. Most businesses strived to sell, deliver, support, their business over the internet. Most succeeded too. A lot of brick and mortar services moved online and some completely disrupted the models to create new internet-only models and created new business paradigms within the industry. A key challenge that this change created for the incumbents is that no business can afford to remain “Digitally Absent” anymore.
Towering demand for digitizing an organization’s internal as well as customer facing process kindled Sanjay Sarkar, Praveen Nair, Pankaj Maste and Hemesh Shah’s entrepreneurial desire to venture out in this space and eventually brought Finoux Solutions to life in 2012. Today the organization leads the space as a one-stop technology solutions provider for financial services companies and Fintechs, BFSI, traditional FS companies, and Startups. While continuously stretching the boundaries, Finoux takes pride in being a fast-growing software development lab for smart and innovative customer facing solutions. Team Finoux has a deep understanding of the BFSI domain and has repeatedly proven itself over 17 long years, building unique customer-centric technology solutions to the BFSI Industry, globally. A young enterprise with a rich entrepreneurial legacy, Finoux has successfully created enterprise value for some of the biggest brands in the industry. Finoux builds, runs and manages a comprehensive suite of financial platforms for the leaders in the financial services Industry. Intuitively designed user experiences that captivate the consumers, and powered with robust frameworks and proven products, the Finoux solution stack has become a primary choice amongst most of the leading Financial Service firms in India.
Delivering Expertise with its ‘Ready to Plug’ prowess
Emerging out as a specialized Digital Transformation Enabler for Financial Service Firms and Fintechs, Finoux has enabled competitive disruption for its clients, with ‘Ready to Plug’ application frameworks like Online Account Opening, Portfolio Tracker, Charting Solutions, Robo-Advisory, eKYC, Research, Financial Planning, Mobile Trading, Fintech Portals, etc. The frameworks have helped its clients to digitize their internal facing and customer-facing process, providing a growth fillip to their business in the shortest time possible. Mastered in deploying successful software, Finoux is among one of the few providers offering integrated solutions & services to BFSI Companies singularly focusing on the BFSI domain at large. The organization leverages its unique perspective, full capabilities, and ready product frameworks backed with disciplined execution to help its clients compete, evolve and grow in these dynamic markets, particularly when it comes to “customer facing” applications.
By ushering an innate understanding of the key stakeholders, their operating models and roles within the greater ecosystem for every engagement, Finoux has obtained a firm footing in the market with its ground-breaking offerings for various Financial Institutions including Banks, Online Stock Brokers, Financial Media, Wealth Managers, NBFCs, Consumer Portals, etc. over the years. Finoux sits in a complex mixed ecosystem that is dominated by comprises like Big IT Giants, Digital Agencies and consulting firms, carrying their own core competencies. Yet, Finoux has the unique advantage of commanding core competencies that cover the whole range from consultation to design to code to applications and support services. Finoux’s solutions are characterized by the fact that they are not the run-of-the-mill software one would find while shopping at the typical Indian IT vendor. Finoux’s offerings are built on a sound ‘product vision’ aimed at delivering Real Results, Business & Profitability. The organization has expanded its wings across the globe in India, Saudi, UAE, Switzerland, Malaysia, and Hong Kong.
Area of Expertise
Finoux is uniquely placed across all the services spectrum in the digital transformation space. Most service providers have fragmented offerings based on their capabilities. Finoux has, over the years, developed the cross spectrum capability of digital transformation services for the BFSI sector. Following diagram shows the stackup of skillsets of various Digitization Ecosystem participants.
Digital Asset Platforms – Online Broking Platforms
- Portfolio Management Tools
- Research and Strategies Engines
- Content Management Platform
- Charting Tool
- Stock Screeners
- Integration with all third-party Data Vendors.
- Mobile Applications
- BankOne – One Page Internet & Mobile Banking
- OAO – Online Account Opening
- Trade Bus
- Tick – Trading Frontend
- Custom – Trading Solutions
- Mobile Trading Applications
Wealth Management Solutions
- Wealth Dashboard Solutions
- Financial Planning Platforms
- Portfolio Analytics Applications.
Financial Social Media
- Trade From Facebook
- Markets Portal with Tools on Facebook.
- Trade from other Stock Market Portals
Financial Product Distribution
- Distributor Driven Sales Platform
- Goal Planning Based Sales Platform
- Form Filling and Automation for Mutual Funds
Journey So Far
A home to a highly competent team of skilled, trained and qualified 130+ professionals, our team believes and strives consistently to create long-term value for all stakeholders. Finoux’s has created a name for itself in the global market. The Organization’s forte is channelized to Financial Service customer sub-segments like Stock Brokers, NBFCs, Wealth Management, Mutual Funds, Banking and Insurance. Finoux’s journey has been tremendous to date. A multitude of prestigious organizations have entrusted the company with their processing. Giants such as Axis Bank, HDFC Ltd., HDFC securities, SBI Life Insurance, Saraswat Bank, Angel Broking, Edelweiss, Julius Baer, Moneycontrol, Religare, Karvy, Principal India AMC, Axis Mutual Fund, Indianivesh and many more secure spots in its rich clientele.
New Markets, Accelerated Innovations
When asked about Finoux’s plans for the next few years MrSarkar said, “The next 2 years are planned for expansion and growth. Initially we had decided to stay self-funded as we’ve been profitable from year 1. And now it’s time for us to accelerate our growth. So we’re beginning our fund raising rounds this year, looking for strategic institutional investors to come on board for our next level”.
Speaking of the company’s growth and climbing up the success ladder, Finoux is looking out to enhance its investment in geographical terms by establishing its presence in 3 more markets – US, SEA, MEA in next three years. The organization is working on new SAAS platforms for annuity/consumption based sales and is planning to build a partner network which will help Finoux to effectively enhance its sales and technology collaboration across markets
The Director’s Periscope
Co-Founder & Director
A Fintech entrepreneur with over 22 years of experience in building, growing & exciting technology businesses in the past, Sanjay Leads the strategic direction of Finoux solutions and heads the business operation. A graduate from the prestigious‘National Institute of Design’, Sanjay continues to ensure that Finoux delivers outstanding solutions with exceptional experience backed by robust and scalable technology backbone. As the chief executive, Sanjay drives the Business strategy and direction for the company. Sanjay also drives the alliances and business reach of Finoux in various markets.