Indian IT - Beyond Services

India IT - Beyond ServicesThis report is solely for the use of Zinnov client and Zinnov personnel. No part of it may be circulated, quoted,or reproduced for distribution outside the client organization without prior written approval from Zinnov

Agenda 1 Evolution - Indian Software Product Companies 2 Current Lay of the Land 3 Success Stories & Emerging Companies

Despite its long history, the ‘Indian software product’ story has largely remained untold History of Indian Software Product Business High Early Stage Growth Stage Acceleration Stage Softek Compilers Flexcube (i-flex) mChek Instaplan TableCurve (Cranes) Arc (Manthan) Muneemji Nikira (Subex) VIS (3d SOC) Easy Acc Tally IViZNumber of Product Businesses iViZ Manthan mChek Vegayan Subex 3D Solid Infosys Compression Innoviti Nucleus Tally Elitecore Software Solutions InfrasoftTech Compulink Technologies More than 300 HCL Cranes startups in the last TCS Kale 4 years Ramco Polaris Consultants i-flex Systems Wipro Systems Newgen Visionary companies built compilers and application India excels in banking- Softek software for local market specific products requirement Low 1980 – 1990 1990 – 2000 2000 – 2011 3

Due to the recession the number of product companies established YoY had reduced but its fast bouncing back to earlier levels Number of companies established India Product business (FY 1990 to FY 2010) Q1 2011 no. shows the new companies growth rate is coming back to pre- 297 recession levels 285 209 182 153 150 E 136 132 143 90 95 74 78 79 48 39 36 36 Till 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Total= 2112Note: Only companies with visibility/beta product in the market have been considered in the databaseSource: Zinnov Analysis 4

76% of the total product companies are in the space of Digital and Business and Productivity Software Categorical Distribution of Indian Software Product Businesses 40% 36% 4% 7% 12% 1% Business and Productivity Software Client / Desktop,System softwares and Tools Others Semiconductor Server / Infrastructure Software and Storage DigitalSource: Zinnov Analysis 5

There is a stark difference between Indian start-up ecosystem from that of developed markets Silicon Valley Israel India Ecosystem Ecosystem Ecosystem Melting pot of global talent  Melting point of Jewish talent –  Strong MNC R&D presence Strong university – industry especially from Russia  Budding VC/angel community collaboration  Strong university – industry  Melting pot for talent from across Mature ecosystem with 50 years of collaboration the world (Indian diaspora) history  Strong VC and Angel network  Strong connect with Silicon Valley Experienced mentors with expertise  Higher maturity of the engineers  Legacy of entrepreneurship selling in US markets due to military training Strong VC and Angel network  Government and defense as beta Presence of management teams customers with experience in scaling  Willingness to sell out in short term businesses  Strong connect with Silicon Valley Respect for failure  Respect for failure Characteristics of the Ecosystems 6

However, a maturing ecosystem has helped accelerate the growth of home- grown software product businesses over the past few years Ecosystem for Indian Software Product Business Many educational institutes Increased interest and and government bodies are significant investments now actively promoting by VC’s in Indian Product entrepreneurship startups 3b 3c Venture Incubation Capital Centers Support Ecosystem 2 Over the years, MNC Technology disruption like R&D centers as well as Mobile, Cloud and SaaS etc Role Models have lowered entry barriers improved education Companies and created a level playing system has created large R&D talent pool field for small companies 1 3a 3d Talent Market Development Technology Pool DisruptionsSource: Zinnov Analysis 7

Agenda 1 Evolution - Indian Software Product Companies 2 Current Lay of the land 3 Success Stories & Emerging Companies

Synergy of multiple factors have spurred the Startup ecosystem in India Evolving Innovation Second Initial set of Talent clusters generation Exits entrepreneurs 1 2 3 4 • We have over • Sheer optimism • Successful IT • We have our initial 2,50,000 among the talent; company founders set of people who professionals working Available only in a have started Venture made money from in R&D related few place in the funds to encourage selling their start ups services across world entrepreneurs – and IPO’s E.g. Yasu captive centers and • Cities such as Narayana murthy, technologies, Valyd service providers. Bangalore have the Azim Premji etc software, Skelta Overall employment opportunity to software, in silicon valley is only become innovation MakemyTrip 1 million clusters Vibrant Domestic Market 9

Increase in venture investments in Indian companies after the lull during the economic crisis of 2008 VC Investments in India, 2005 – 2010 VC Investments by Industry, 2010 1200 180 144 14% 15% 900 125 120 5% 3% 110* 94 92 600 10% 876 60 44 740 2% 300 540* 508 475 268 51% 0 0 2005 2006 2007 2008 2009 2010 Mobile Retail Healthcare BFSI Deal Value Number of Deals SW & IT Education OthersSource: Zinnov Analysis 10

Some of the key VC and PE investments and exits over the last few years have been in Technology sector (1/2) PE/ VC Top investments/exits in technology companies in IndiaSequoia Capital India Micromax, iYogi, Druvaa Software, July Systems, Axtria, Cognizant, IMImobile, ComvivaHelion Advisors Pvt. Ltd. Azure power(Series B), Jivox, Komli , PubMatic, Kirusa, Zmanda, ngpayCanaan Advisors Pvt. Ltd. Naaptol Online Shopping, iYogi, Chakpak Media, Bharat Matrimony, Cellcast and techTribeInternational Finance Corp. Azure power (Series B), Sunborne Energy, Applied Solar Technologies, Husk Power Systems, Auro Mira Energy, Bhilwara EnergyNexus Venture Partners Dimdim (acquired by Salesforce.com), Gluster, Netmagic, Cloud.com, Aryaka, Mistral, Altruist Technologies, Kirusa, Snapdeal, Komli Media, PubMatic, Sedemac, Prana studios, MapmyIndiaDFJ India Vegayan systems, ItzCash, ClearTrip, mCheck, mGinger, Reva, iYogi, Komli, PubMaticNorwest Venture Partners Appnomic Systems, Komli, Suvidhaa Infoserve, Quikr, Yatra.com, PersistentSherpalo Ventures Zazzle, 24/7, naukri.com, cleartrip, MapmyIndia, Futurebazaar.com,Matrix partners India One2three.com, asklaila, Quikr, Verse, ItzCash card, vJive NetworksLightspeed India AskLaila, Itz cash card, TutorVistaClearstone venture advisors DigiBee Microsystems, Games2win, BillDeskIntel Capital India Gone public/acquired - Sasken, Subex, Persistent, R Systems, Future software, Deccanet designs Current – Persistent, Tejas networks, Vignani technologies, July systems, Hellosoft, Collabnet, KLG systel 11

Some of the key VC and PE investments and exits over the last few years have been in Technology sector (2/2) Key VC investments in Q3, 2010 Illustrative Exits in Last 3 years Company Sector Amount Investors Company Sector Amount Acquirer (USD (USD Million) Million) VM Logix Virtualization Undisclosed Citrix / Cloud Aryaka Cloud 14 Nexus Ventures, Others Networks Computing Dimdim Cloud/ 32 Salesforce.co Collaboratio m Perfint Medical Devices 7.2 Norwest, IDG Ventures n Healthcare India, Accel India Yasu Business Undisclosed SAP Rules Naaptol.com Online Services 7 Canaan Partners Managemen (Shopping) t iLevel Solutions Enterprise 6 Epiphany Ventures, India Games Online 4 (18.3%) Cisco Software Gaming (Private Equity) Conzerv Energy ~8 Schneider Systems Efficiency Electric Komli Media Online Services 6 Helion Ventures, Skelta BPM Undisclosed Invensys (Advertising) Nexus Ventures, DFJ Software Software Tyfone Mobile VAS 5 Ojas Ventures, Others Technology Display 4 Avigo Capital Frontiers TechnologySource: Venture Intelligence; Zinnov Analysis 12

NCR and Bangalore are have around 60% of the Digital Companies Digital Product companies 10 3 2 split across regions82 57 Total= ~846 13 Kolkata 17 Deal websites 240 Games NCR Mobile NCR Social Networking68 28 14 Shopping Media and Entertainment Marketplaces 172 Travel and Leisure Mumbai Kolkata Mumbai Pune 36 17 Hyderabad 2 39 77 Bangalore Hyderabad Pune 18 Bangalore 93 47 23 15 8 8 2 13 73 227 Chennai 13

India’s capability to address some of the key opportunity areas in the global market is high Domain Investments/ Innovation Competitive Product Category Talent Pool Role Models Expertise M&A Activity Capability Edge BFSI Telecom ERM Business Intelligence Security Retail Storage Mobile Applications Online Gaming Search Engine Marketing Capability Very High Very LowSource: Zinnov Analysis 14

Indian software products companies have been innovating for bothdomestic and global markets Innovations for Domestic Market Value added services to consumers and monetization viaMass Visibility direct lead generation engine for SMBs/Enterprises Solutions Solutions that enable better teacher, Education pupil, parent collaboration SMB specific niche applications that SMB Niche address unique vertical or horizontal Applications pain points Mobile Mobile based applications as a mode Applications for to maximize reach Reach E-commerce platforms for products that do not require touch & feel or the E-commerce decision is being made before the purchase 15

Tally 9 ERP.NET Mega Opportunity Solution • Tally 9. ERP with online-offline sync option. • India is a land of Small business with close 59 • Tally has 11,000 Channel Partners in India Million SME’s. Most of these SME’s today • Tally has built strong relationships with the CA have very limited levels of IT Adoption today influencer community and hence present a huge opportunity Online-Offline Sync Option Tally .NET Mobile Server Devices Customer Insight Internet • SME customers have connectivity but do not have continuity of connectivity. Tally User Tally User • SME Customers require that they have a face to a brand and hence there is a need for a Business Model feet on street to sell the solutions to the end customers • Solution is charged at an upfront cost that varies • Business influencers play a critical role in the between USD 300- USD 800 . purchase decision of SME’s • Tally also offers the on premise solution on a rental modelNote:Source: Company Websites, Interviews with Stakeholders, Zinnov Analysis 16

Tally 9 ERP.NET – TTSL Case Study Client Requirement• Tata Teleservices had a 5000 strong distributor network. Most of these were either not using a inventory management tool or using legacy tools.• Moreover data collected from all these distributors was often too disparate for effective analytics• Intermittent internet connectivity caused data duplication at TTSL.• TTSL wanted to address this challenge of consistent and timely data flow from retailers. Tally’s Solution• Tally implemented ERP 9 for TTSL over a dedicated online staging cable (eSSTA by TCS) for data flow between retailers and TTSL over HTTPS protocol.• Tally distributed identical SKU’s to all distributors , which TTSL made mandatory. Business Impact• Tightly integrated data flow system between retailer and TTSL.• Data hygiene maintained by removing duplications. Faster claim handling & tracking of complete distribution activities.• Data visibility across entire chain. Automated purchase order process.• Offline online sync removed the challenge of intermittent internet connectivity 17

Agenda 1 Evolution - Indian Software Product Companies 2 Current Lay of the land 3 Success Stories & Emerging Companies

iViz – On Demand Penetration Testing Mega Opportunity Solution • iViz offers three modules Application , Network and • With many businesses going online one way Compliance . Each in two packages. or the other, security of e-commerce • Has started a partner program to cross sell and co- infrastructure becomes an absolute brand with other software & service providers . requirement. Not many companies can afford costly security audits and tools Customer Insight • SME customers have cost challenges of conducting an external security audit. • Difficult to develop internal expertise • Lack of suitable talent pools for SME’s • Expensive software tools and frameworks Business Model limit the use and adoption of security policies • Solution is offered as an On-Demand Service. Specific • Security issues mostly affect network tests and cases are developed according to clients downtime, fraudulent transaction , which need and business. dent the brand of the company. • Zero footprint for client. Can be run remotely.Note:Source: Company Websites, Interviews with Stakeholders, Zinnov Analysis 19

iViz – Makemytrip Case study Client Requirement• A leading travel portal, Makemytrip was facing operational security issues like fraudulent transactions, malware attacks resulting in system downtime etc.• Makemytrip engaged iViz to deliver a cost effective solution for regular security audits and also identify existing security loopholes in its applications & networks iViz’s Solution• iViz prioritized list of vulnerabilities to fix immediately.• Implemented a customized penetration test for the client.• Scheduled quarterly comprehensive security audit and monthly rapid pen tests• Fixed issues with security compliance• Trained internal staff on security management & best practices Business Impact• Zero malware attacks till date.• PCI audit controls successfully implemented• Fraudulent transactions reduced significantly• Better user experience due to secure and faster application performance 20

Manthan Systems : Retail Analytics Mega Opportunity Solution • Manthan offers its retail analytics solution Under the • With consolidation in many business lines ARC brand name. It has 5 different modules for and rapid outburst of retail and CPG markets different type of analytics. in India, many companies now find it difficult to analyze their data using traditional tools. • Precise analytics can help these businesses achieve scale efficiently. Customer Insight • Emerging retailers rum on tight margins and inventory control is absolutely critical • Measuring product performance, optimizing promotions and tracking sales has become Business Model critical for success. • Customer behavior analysis and sales • Manthan offers its BI & Analytics solutions as a optimization strategies require exhaustive licensed, on premise installation user analytics • Manthan also partners with select ISV’s for co- branding its productsNote:Source: Company Websites, Interviews with Stakeholders, Zinnov Analysis 21

Manthan – Haggen Case Study Client Requirement• Haggen , a large food and Pharma retailer, was using old and outdated model of analytics using excel sheets. It took days to aggregate data from all stores and make a report.• Reports were limited to sales and inventory data at a high level.• No behavior analysis reports and product performance reports were available. And many of the peripheral sales activities like promotion were being run on the ‘word’ of store manager. Manthan’s Solution• Manthan implemented end to end ARC analytics engine , which required only 2 people to manage the entire infrastructure and operations.• The solution included complete suite of retail analytics modules like sales & inventory reporting, product and store performance, promotion optimization and targeted campaigning etc. Business Impact• Haggen found out that the promotions it was running were actually for the wrong subset of products and in some cases generating a loss .• Savings of USD250k on deployment costs alone. Besides reports arrive in less than 60 seconds for SKU level.• Haggen utilizes the analytics engine for better resource optimizations and planning , running and managing promotions, analyzing store & product performances etc. 22

Sanovi – Disaster Recovery Mega Opportunity Solution • Sanovi is the most well equipped Disaster Recovery • With most modern organization running their Management tool to come out of India. business operation on the internet, availability of enterprise systems is a critical. • It has 4 modules for end to end disaster recovery Organizations need to ensure they are ready management operations viz. monitor, recovery for disasters and their data and systems are manager, drill manager & reports always ready for any sudden recovery Customer Insight • Companies today are limited in their visibility of recovery readiness of their enterprise systems • The need for IT Managers is a real-time validation engine for recovery readiness. Business Model • Companies today need to follow many • Solution is offered as an Licensed , on premise regulatory requirements for data deployment management & security and need a solution which can audit and monitor in real time. • Sanovi also partners with Wipro to offer co-branded managed DRM services.Note:Source: Company Websites, Interviews with Stakeholders, Zinnov Analysis 23

Sanovi – Essar Group case study Client Requirement• Essar group is a large diversified industrial group from India, with business interests in Steel, Manufacturing, Communications, Shipping, Energy & Power.• The Essar Oil & Steel group run their production on SAP and production planning on I2 applications. Business has mandated a Recovery Point Objective of one hour and Recovery Time Objective of five hours• Industry and government rules on data protection require recovery readiness Sanovi’s Solution• Essar implemented Sanovi’s DRM 4.0 solution for disaster recovery management. Sanovi offered a better value proposition than other solutions.• End to end testing automation of all recovery readiness tests.• Complete compliance reporting , real time monitoring and complete drill automation solutions were implemented. Business Impact• Dramatically reduced the amount of time required to deploy DR solution for their SAP and I2 applications• The time to conduct DR drill has gone down by over 90% and one person is able to drive the DR drills without the physical presence of experts.• The real-time monitoring and reporting capability enables the team to share enterprise application’s recovery readiness report with their management 24

Zoho – Cloud Apps Mega Opportunity Solution • Zoho offers more than 25 business applications in • The opportunity lies in developing collaboration, productivity and business applications commoditized solutions such as CRM, ERP, domain, all on the cloud. Collaboration etc from India at lower cost and offer the same to SME’s in developed & • Offer 3rd party integration with most of its apps emerging markets and compete on price, enabling use of existing solutions leveraging cloud Customer Insight • Globally, SME’s are moving much of their business applications online. None of them want significant capex into technology • India is the land of SMB’s, many of which are Business Model growing bigger by the day. They realize • Solution is offered as a Hosted Service. Specific technology adoption is the way forward integrations and migrations are carried out according to clients needs and existing solutions • Zero footprint for client.Note:Source: Company Websites, Interviews with Stakeholders, Zinnov Analysis 25

Zoho- Bharat Beedi Works Case study Client Requirement• Bharath Beedi Works Ltd. is an emerging player in the tobacco business with sales coverage of over 2000 towns in India. The company has 50,000 staff strength with pan-India presence. Exports to 16 countries.• BBW wanted to simplify highly transactional sales cycle, synchronize between production, logistics and transportation, warehousing, sales and distribution management, track market scenarios and easy monitoring of sales volume fluctuation. Zoho’s Solution• Zoho implemented a CRM that captures all production information, transportation and logistics details and sales data, right from the wholesalers to the last mile resellers.• Provides inputs to different stakeholders using email and SMS reminders.• RFID integration with CRM for ease in uploading data, with customized online reporting to management and staff process leads.• Automated task flow, competition information, market details, product feedback and marketing campaign monitor. Business Impact• Improved sales channel productivity process to strengthen the client’s leadership position in the market.• Re-factor of sales techniques to improve sales productivity.• Decisive steps to closely track the functioning of sales personnel at both the micro and macro level.• RFID integration with CRM, thus saving several man-hours for the client and reducing errors 26

Extensio – Multi Channel Information Delivery on Mobiles Mega Opportunity Solution • Extensio offers a SOA based information delivery • Anytime, anywhere, any device access to framework that enables enterprises to extract from enterprise information sources is increasingly multiple sources, assemble composite applications and a must-have for enterprises, specially with the advent of mobile phones, smart phones deliver them on all mobile phones and end-user and tablets. interfaces, with almost zero code. • Enterprises need a framework to extract, assemble and deliver their information assets to all user touch points. Customer Insight • Mobility needs span across multiple enterprise applications . • Mobile information access is required for all kinds of users, on types of devices. • Point solutions that extend specific Business Model applications to specific devices users results • Solution is offered as an On-premise licensed in spaghetti implementations that are costly software, with module/user/application pricing. to build, difficult to manage and carry a risk of obsolescence. • Minimal implementation costs. Deployable in daysNote:Source: Company Websites, Interviews with Stakeholders, Zinnov Analysis 27

Extensio – Holcim Case study Client Requirement• The Holcim group companies in India, ACC Ltd and Ambuja Cement, were facing intense market pressure due to competitive market activity, volatile prices and inventory issues at retailers and stockists.• They needed to increase engagement s with Field Sales, Sales Managers, Retailers and Stockists• They needed to streamline their ‘Production to Evacuation” process with deeper engagements with transporters and suppliers . Extensio ’s Solution• With Extensio’s multi-channel information delivery framework, ACC Ltd and Ambuja Cement created a mobile information delivery channel, that was implemented as several applications targeted towards the various stakeholders and users.• Applications built included Secondary Sales and Market Intelligence Systems, SAP-enabled shipment notifications, Influencers Applications and “Milk Van” kind of distribution . Business Impact• ACC and Ambuja were able to implement dynamic real time pricing and stocking on the field, resulting in increased margins, lower inventory carrying costs and lower stock-outs.• Accounts receivables from retailers was reduced from 200 days to 3 days.• The implementation received an Holcim Global Innovation Award, and is now a Case Study in the Zurich University 28

Qontext – Social Media for Enterprises Mega Opportunity Solution • Qontext offers enterprise social platform which can be • Social media is the new phenomena in one to one connects. used to create 5 different types of communities for • Companies are now looking to connect with social collaboration amongst targeted users their clients , customers and employees using • Qontext was named a Gartner Cool Vendor for 2011 non-traditional ways like social media • Social Media is a great channel for product feedback, Promotions and pre launch marketing etc. Customer Insight • Large MNC, looking to engage audience before a new product launch. • MNC’s looking to revamp their marketing campaigns through targeted promotions to existing customers Business Model • Companies looking to establish a better • Solution is offered as a Hosted Service. Specific connect with their customers and employees integrations and migrations are carried out according on an informal channel, where expression of to clients needs and existing solutions ideas and feedback is easier • Zero footprint for client.Note:Source: Company Websites, Interviews with Stakeholders, Zinnov Analysis 29

Qontext- IndiaFirst Life Insurance Case Study Client Requirement• IndiaFirst Life Insurance wanted to create a common social platform , where its employees could communicate with its customers over a common platform.• IndiaFirst also wanted a common collaboration platform between employees for knowledge sharing, lead discussions etc over an informal channel. Qontext’s Solution• Qontext implemented its social collaboration platform for IndiaFirst , creating 3 different communities for employees, customers and distribution partners. All these communities could interact between each other and everyone had a choice of what information they would like to make public and what they would selectively share.• Qontext team made sure the solution was integrated with IndiaFirst’s existing business systems and a seamless flow of information was put in lace between them. Business Impact• Qontext being a hosted solution did not involve large Capex for IndiaFirst.• Qontext was able to bring all its employees and distributors over a single collaboration platform .• Queries for many customers who did not want to be called but requested for information were addressed on this platform . If needed they were asked to chat/discuss in real time on the platform. 30

MangoSpring – Enterprise Collaboration Mega Opportunity Solution • MangoSpring offers an enterprise grade collaboration • A lot of SMB businesses are now run by platform which is segmented into 4 different modules : people working out of multiple offices. The need for a collaborative decision is Enterprise, Collaboration, Communication and increasingly important. Management. Each of these have their own sub • Most of these SMB’s do not want a high products. Capex on collaboration tool or travel Customer Insight • A lot of innovation in modern day companies is generated by employee ideas. Companies are looking forward to a Google like model to incubate the best ideas in-house. Business Model • Needs product teams in different • Mangospring offers three deployment options : geographies to share and develop a new Shared Cloud , Private Cloud and Hosted. product customized to each geography. • Each application can be purchased separately or in a package.Note:Source: Company Websites, Interviews with Stakeholders, Zinnov Analysis 31

MangoSpring – Intrado Case Study Client Requirement• For over a quarter of a century Intrado provides the core of the nations 9-1-1 network and innovative emergency communications services and mobility solutions that transform communications and help save lives.• Intrado wanted a social collaboration platform on which employees could share innovative ideas and discuss solutions to existing problems. MangoSpring’s Solution• Mangospring first implemented their enterprise suite at Intrado, with modules for intra-company communication, collaboration and social interaction.• Mango integrated its solution with Intrado’ existing LDAP servers and also ported all existing discussion forums to its platform.• Mango also established a new social interaction platform for company’s internal users.• Further to this, Mango also implemented its wireless gateway to be used in one of Intrado’s products Business Impact• Intrado was able to successfully increase collaboration between enthusiastic employees .• Intrado was able to create a resource pool of ideas . It was one of the ideas posted in the resource pool, that morphed into a new product offering for Intrado.• Intrado then leveraged MangoSpring’s wireless mobile gateway technology to launch SMS based 911 services.

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SMB Vertical Specific Applications Solutions focused on BFSI Vertical with niche focus on Micro The Opportunity Finance• Solutions that address niche vertical and horizontal needs of SMB’s are likely to succeed as these solutions address pain points• Example Areas: • Collections Management Solution Services Offered • Retail POS Solutions for Mom & Pop Stores Micro Insurance Micro Finance Platform • Pharma software for batch tracking Platform • Litigation Management Software for lawyers Litigation Software Insurance Software Reasoning Value Proposition• There are 59 million SMB’s in India Niche Vertical focused solutions that address a specific customer• They are spread across multiple verticals and follow pain point and is required by SMB’s to scale their business unique business processes.• They want solutions that address their niche pain points Business Model and are willing to pay a premium for such solutions• The SMB spend on software and services is projected to Support technology platform with strong set of business services touch USD 2.1 Billion in 2010 that will allows the firm to remain continually engaged with the client.

Mobile Solutions that Address the reach challenge faced by enterprises The Opportunity Financial Inclusion – Through mobile banking •The EKO customer walks up to any of the• Any solutions that enable large industry verticals looking retail outlets licensed to operate as an to scale to reach a broader set of customers and authorized "Customer Service Point" (CSP) in provide their services on mobile devices present a the area significant opportunity in India •For these customers, their banker is none• Example Areas: other than the friendly neighborhood "kirana • Retail Campaign Management Solution store” • Virtual Insurance Solutions •Plan is to set-up 500,000 such licensed • Vaccination Tracker outlets within the next two years •Eko has developed a low-cost banking platform called "SimpliBank" which ensures Reasoning real-time transactions •SimpliBank is a stripped down version of a• In India there are 520 Million mobile phone subscribers core banking platform with limited functionalities (reducing cost to the today. consumer)• Industries such as BFSI, Retail, & Healthcare are looking to grow rapidly by providing services to those outside their •Eko customers type the bank’s short code, current service net. then an asterisk, then the mobile number of• Given the cost of sale and cost of reach, these firms will the person you are paying, then an asterisk, look to leverage mobile devices to provide their services then the amount, then another asterisk to customers and scale. •Account holders get booklets with pages of• The services would have to be customized to the mobile 11-digit codes. Seven digits of it are random form factor and delivered numbers, with four randomly placed black marks, where the person enters his or her PIN

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Indian IT - Beyond Services

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