Credence products find acceptance in Nigerian Market |
Nov 1, 2009 |
| Credence Analytics acquired first customer for its iDeal suite of products in Nigeria. The India based company which specialises in treasury management, investment management and risk management software has been active in expanding its client base beyond India. |
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Through its distributor based approach it has already acquired customers in different parts of the world. "Inspite of being a small, niche firm we have been able to gain acceptance in overseas markets through our supportive partners and flexible product model" says M.R. Rajesh, Associate Director sales. |
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Among others, the company has managed to attract Central Bank of Sri Lanka (Sri Lanka), Bahrain National Holding (Parent company of Bahrain National Insurance, Bahrain) and First Metro Investment corporation (investment banking arm of the biggest financial conglomerate Metrobank in Philippines) as customers with the help of its partners like DMS Software Technologies (Sri Lanka), IP Converge (Philippines). |
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Company's iDeal suite of products has gained acceptance with first customer in Nigeria. Along with its partner Agile Financial Technologies, the company was able to convince a prominent financial services group of its ability to automate the operations ranging from securities trading to investment management to asset liability management. |
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As per Rajesh "The company is unique position to offer a wide range of modules to satisfy a financial conglomerate. This is what has allowed us to service different subsidiaries of a financial conglomerate for their unique needs". Rajesh sites an example of Reliance Capital group where the different arms of the company like Reliance Mutual Fund, Reliance General Insurance, Reliance Life Insurance are using different modules of its software. |