3i Infotech acquires SDG Software Technologies
By 3i Infotech Ltd has anno | 25 Nov 2005
SDG
Software Technologies is a profitable Company with annual
revenues of approximately
Rs100 million. The Company has a comprehensive array of
products for the banking industry and capital markets
with a focus on surveillance and fraud management. The
acquired product list includes:
a) BankAlert TM: An anti-money laundering (AML) software application that helps banks carry out entity resolution by checking against blacklists like OFAC SDN, UN Sanction, Terrorist and Criminal lists across the world. It detects fraud and money laundering instances by closely monitoring transaction patterns and addresses the challenge of complying with growing regulatory requirements.
b) AWACS TM: The 'advance warning and control system' is a surveillance engine designed to protect the integrity of the capital market from fraud, manipulation and abusive practices.
In addition to these products, SDG also offers products and solutions catering to the capital markets. It has 125 employees and has customers in Philippines, Singapore, Middle East, India and UK.
Commenting on the acquisition V Srinivasan, Managing Director and CEO, of the Company, said. "We believe BankAlert, the AML product will fill a gap in our banking product space which in turn will help us further penetrate the banking industry. The scope of BFSI has widened, incorporating not just banking but other areas like capital markets that are likely to exhibit good growth. With the addition of SDG's solutions for the capital market, our offerings in the BFSI space will increase."
