Our aim is to become an employer of choice

Headquartered in Dublin, Information Mosaic (IM) today leads the market for corporate actions and custody solutions to the investment services industry. Established in 1997, the company is now aiming to strengthen its focus on India market. In a recent encounter with IT NEXT, John Byrne, CEO, IM, shared his insights over the India centric plans of the company

Q: What would be the focus area for Information Mosaic in India?

We help institutions by developing technology that allows banks to take advantage of all of their business applications they already have in place. This means that they do not have to make any further investment. With India is on the verge of changing tax regime, there is a strong need to have solutions that can simplify the operations and accommodate new changes in time. Today, most of the clients are looking at different product lines and one of the reasons to be here is to develop new product line.

We believe that our expertise would help Indian banks and financial institutions to embrace international best practices in a smooth manner. Our aim is to become an employer of choice for top technology and business domain candidates and recruit top talent and to come up with new product lines in the domain in collaboration with Dublin center.

Q:You have recently announced the establishment of your new India product centre. What are the opportunities that you will be eying to leverage from it?

Recognising the increasing importance of Asia in general and India in particular in the global marketplace, we have established a full-fledged product design and development center in India. The US $10 million centre is the only second such center for IM after the one we have in Dublin, Ireland. This expansion also supports IMs commitment to meeting client's needs with high quality products at manageable cost. Through this Gurgaon based space, we are eying to serve the rapidly growing security processing industry. Opening up of India Center is one of the most strategic decisions as we believe that this would be an essential growth engine to take us to next level.

Based on an encouraging response we received from our prospective customers for the center in India, we believe this number will be achieved even before mid of 2010, 6 months earlier than what we had planned and think we will grow much faster.

Going forward, we would also like to provide highly specialised and value added services in the domain. Also, we will try and establish excellence center in the niche area of post trade automation and transformation and contribute to the security processing industry. We are planning to hire 250 design engineers for the new centre, which will service the Asia-Pacific market. expect to see our India operations boosting up the global revenues by 30%.

Q:What kind of a potential does Indian market have for IM's products?

Indias robust and evolving capital market and is on the verge of becoming part of the larger global financial community. Our expertise can help the Indian banks and financial institution to move towards adopting international best practices and help them play a pivotal role in the global scenario.

Many of our customers already have their presence in India. Our products serve almost all types of players in the capital markets domain and its specialisation is in PTA (Post Trade Automation).

In the post financial environment, the other interesting thing that is happening is wealth is increasing and people are investing. The target audience of IM is not only the investment bankers but any institution dealing with financial securities of all kinds at a reasonable scale are potential IM customers. Therefore, for any new technology investment, it is critical that the underlying technology is viable and will be around for a long time.

The aim is to bring a synergic effect and to maximise the chances of growth globally. The demand for such products has, in fact increased in the light of recession. The need for risk management and tighter compliance norms in this dynamic industry has necessitated a product solution which can keep pace and can provide scalable and flexible solution in a cost effective manner.

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