The Mangalore-based ICICI group, which consolidated its in-house IT department to launch ICICI Infotech in 1999, is preparing to develop a new factoring software product.
ICICI Infotech has expanded from India to the United States, Singapore and Sri Lanka. What began as primarily a business-process outsourcing company has grown into software development, product, solutions and IT-enabled services. The number of employees is approaching 2000.
V. Srinivasan, MD and CEO, has said "We are…developing a product for value-at-risk calculation, factoring and retail lending.”
ICICI Infotech is currently building suite of additional systems for areas such as factoring, leasing and project finance. It also partners with another Indian/US company, Vision Web Solutions, reselling its trade finance and cash management solutions.
Source: Worldsources
