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i-exceed, a fintech focussed on offering digital solutions for banks and financial institutions, plans to expand its overseas footprint and is eying markets in South-East Asia and West Asia this year, a top official said.
i-exceed primarily buildsomni-channel digital solutions for financial institutions.
The markets i-exceed plans to enter this year are Hong Kong, Vietnam and Thailand. In West Asia, it is looking at Qatar, Saudi Arabia and Oman, S Sundararajan, Co-founder and Executive Director, i-exceed told BusinessLine .
Currently, i-exceed, which started in 2011, operates in 20 countries including the US, UK, Singapore, Malaysia, UAE, Kenya and Indonesia.
i-exceed has 80 clients and hopes to substantially increase this count over the next two years. Plans are afoot to increase offerings and provide targeted solutions for commercial banking and wealth management in these new markets, according to Sundararajan.
In the European region, i-exceed is focussing on UK and Switzerland.
While ruling out plans for an initial public offering (IPO) for now, he said that i-exceed will soon tap private equity for Series A funding.
Currently, i-exceed gets 75 per cent of its overall revenues from overseas markets, with the balance from domestic market.
“Increasingly we are trying to expand more into overseas markets and get more revenues. Having said that India being a large market and more digital transformation taking place here, we will continue to focus and gain from newer opportunities here as well”, Sundararajan said.
Insurance vertical
On the banking side, i-exceed will focus on digital transformation for corporate SME banking and also bank staff themselves. It is also focussed on getting into newer markets abroad. I-exceed also plans to get into insurance and offer digital solutions to insurance companies and their clients.
“This year the focus is to penetrate deeper on the markets we are already in. Second area will be to extend our platform (Appzillon) and offerings to newer markets. Thirdly, we will prepare to enter new areas like insurance”, Sundararajan said.
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