News Today - Business Lines - Chennai, May-28-2007:

CHENNAI: Bahwan CyberTek Pvt. Ltd (BCT), a $45 million global provider of hybrid technology solutions is looking to grow its revenues out of India and has zeroed in on banking, financial services and insurance (BFSI) as its vertical of focus.

The company has set its global practice for BFSI at its center in India, and will be launching new products and services to capture a growing share of this fast growing vertical.

BCT estimates that revenues out of BFSI vertical will contribute to 10 per cent of its global revenues in the next year.

According to Mr N P Menon, COO & head of Indian operations, "Over the past few months this practice has seen significant traction with banks in India engaging Bahwan Cybertek to implement their Cuecent eREMIT suite of products and other BFSI stack of products and solutions."

"We also see the customers in this vertical moving beyond mere automation and actively seeking ways to capture and enhance value across; an area that plays into BCT's forte and is effectively addressed by our suite of products and services. It also helps that we have our R&D/Innovation center for BFSI based out of India."