Banking and Financial is a robust space and Prospecta is heavily investing on partnerships and resources. Prospecta is currently in discussion with large financial institutions and rolling out cloud services across SMB space.
With demonetization of Indian economy where 80% of the transactions are on cash, India has taken a big step in digital economy, today cashless transactions are order of the day. A number of payment initiatives are being used or considered to quickly address the needs of being cashless.
Prospecta is currently looking at introducing a digital payment platform to enable cashless transactions.
One of the main issues the banks are facing today is that of Stressed Assets â€“ a number business have collapsed in the recent past defaulting on their liabilities which involve huge loan re-payments. If corrective actions arenâ€™t taken a stressed asset can quickly become an NPA. Prospecta is working on a model for identifying and managing a stressed asset and turn it around.
In Banking and Finance our current focus is around Digital economy and Stressed asset management.