DPA SmartCloud is first officially recognized as a “Fintech Entity” in India
DPA SmartCloud IFSC Private Limited, a wholly owned subsidiary of Decimal Point Analytics (DPA), has become India’s first ever fintech startup to be authorized as a “Fintech Entity” by the International Financial Services Centers Authority (IFSCA), the omnibus regulator of the financial SEZ in Married City, Gujarat.
The authorization will enable DPA SmartCloud to offer AI-ML powered solutions, products and end-to-end data management services on the cloud. DPA SmartCloud will serve a wide range of financial services globally and give them access to better quality services at a lower cost, along with benefits that come as part of the aCloud solution.
Speaking on the development, Shailesh Dhuri, CEO of Decimal Point Analytics said, “With this authorization, we are all set to launch a comprehensive bouquet of AI-ML powered products and services over the cloud that match the requirements of our BFSI client base. across the US and Europe The offerings from DPA SmartCloud will help us expand into newer markets and cater to a diverse customer base, who in turn will benefit from our AI-ML powered solutions, all under one roof, to make strategic business decisions .”
DPA SmartCloud will be an integrated Software as a Service (SaaS) platform, which will host several AI-ML based data management and analytics solutions and products over the cloud. AI, ML and Cloud have been buzzwords doing the rounds for a few years now, and organizations across the globe are exploring ways to implement such solutions to gain even the slightest competitive advantage. Some of the most common challenges faced by BFSIs and asset managers in particular are managing large amounts of data, ingesting and integrating data from multiple sources, cleaning and validating the data, structuring unstructured data to generate insights and training, and deploying AI models to ensure accurate results. DPA SmartCloud will give Asset Managers access to a comprehensive data management platform with automated data ingestion, data standardization, advanced quality control measures and more. The cost and implementation time dimension of AI platforms is a constant concern for asset managers looking for the alpha edge.
Mr. Dhuri further added, “Financial services require fast, reliable and cost-effective data analytics products and data management services to convert data into business value. Cloud-based AI-ML solutions are the need of the hour to meet the needs of these firms. However, developing these solutions is a costly affair due to the high cost of setting up infrastructure along with the availability of skilled and experienced personnel needed to develop them.DPA SmartCloud will allow financial services firms to implement customized AI-ML based solutions based on their specific requirements at a fraction of the cost and time needed to set up an internal system. We believe this is a win-win for all stakeholders.”
Mr. Dhuri further added, “Gujarat International Finance Tec-City (GIFT City) is India’s first International Finance Center (IFSC) and IFSCA is the unified regulator tasked with regulating financial products as well as financial institutions in GIFT City. IFSC will be the country’s portal to the world serving institutions and individuals outside the Indian jurisdiction, handling financial flows, financial products and services across national borders.The vision encompassed by IFSC is to play a central role in international finance worldwide, and Decimal Point Analytics believes that DPA Smart Cloud will be one of the key opportunities to provide the technology advantage to IFSC.”
