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The global economic and finance industry has seen some major swings both upwards and downwards in the past decade. The economic slowdown and the Euro zone crisis have affected the financial markets throughout the globe at varying magnitudes. The Asia Pacific region was no exception, though the extent of austerity was comparatively less than most European and American nations. It was also a time when major players in global financial services were poised with competition from the local and relatively smaller financial service providers. The middle class economy saw a boost and became a key player in economy. The time was ripe for Puratech Solutions (India) Pvt. Ltd to build its brand and position itself amongst the veteran financial payers in the market.
Puratech Solutions, which was already in the market as a partnership company, formally positioned itself as a Private Limited Company in 2008. Withstanding the global (something is missing ???) Vishal Shah and Mukund Sivasubramaniam, the Founding Directors of Puratech Solutions, materialized their vision of setting up a Product based solution provider rather than just being a service based IT company. “Our thrust has been to provide out of the Box solutions that meets major of the customer requirements that would also bring in the best of the industry processes along with it thus reducing the implementation time”, elucidates Mukund. The directors realized the tremendous potential and a glaring lag in services beyond core banking and generic BFSI solutions. Puratech thus aims at cashing on the potentials and bridging the gaps with a wide range of customized and high tech solutions.
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The flagship products by Puratech includes the eSeries Product Suite comprising of Commodity Based Financing (eCBF), Inventory Funding (eIFS), Supply Chain Finance (eCF) and Business Correspondent Banking (eBCS)
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