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Global business process and technology management firm Genpact Ltd on Monday said that it is acquiring Atyati Technologies for rural banking services. The company has signed an agreement and would close the deal in next three-four weeks subject to certain customary conditions.
However, Genpact did not disclose terms of the deal. “It leverages all latest cutting-edge technology around mobility and biometrics that makes it highly scalable and able to be taken to the global markets, including to the micro-finance institutions,” Mr Tiger Tyagarajan, President and Chief Executive Officer, Genpact, said in a statement.
Bangalore-based Atyati hosts solution on private cloud that enables banks to have benefit of totally outsourced service that is charged on a pay-per-transaction or pay-per-village model. Its platform serves 2.5 million end customers in 6,500 rural villages at present, with expected expansion to 9.8 million end customers in more than 16,000 villages by 2013. The company's 60 employees would become Genpact employees and work closely with Genpact's India to India and Global IT Services business, the statement said.
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