IDBI Intech teams up with Lemon Advisors UK to expand into global markets
By Megha Bhattacharya
India-based digital banking technology transformation company, IDBI Intech Ltd., announced a strategic partnership with UK-based Lemon Advisors UK Ltd., to extend their FinTech products and services for the banking & financial services sector to new global markets. This association will help IDBI Intech access global markets where it aims to leverage the significant reach that Lemon Advisors brings on board, across the geographies in Southeast Asia, Japan, Australia, the UK & the EU Region.
Mr. Surajit Roy, MD & CEO, IDBI Intech said, “It is estimated that the global spends by financial institutions on regulatory compliance is projected to grow at the rate of 21% to over US$5.6 billion by 2024 and 75% of this spending will be on financial crime prevention and detection. We are delighted to partner with Lemon Advisors and take our solutions to the new global markets.”
Some of the standard global technology offerings by IDBI Intech include combating financial crime, payment transformation, digital customer experience and digital technology integration, among others. The company is based in Mumbai, India and is a digital FinTech IT company specialising in business transformation in the Banking Financial Services and Insurance space. It is a part of IDBI Bank which is one of the leading universal commercial banks in India.
Mr. Subhash R. Ghosh, Founder and CEO of Lemon Advisors UK said, “IDBI Intech Ltd., with its suite of disruptive products in the area of Financial Crime and Payments, leveraging AI and ML, has achieved significant recognition and success. It aims to build a profitable portfolio of their global revenue over the next 18-24 months from these regions. We, at Lemon Advisors UK are extremely proud to be their Advisory partner.”
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