Magma Fincorp Ltd wins award for excellence in information technology at FINNOVITI 2016

Hyderabad/Kolkata, March 3, 2016: Magma Fincorp Ltd., one of India's leading retail asset finance companies, has been awarded the prestigious FINNOVITI 2016 for sales enablement project nomination titled “Mobility” at the 4th edition of Finnoviti 2016 Conference & Awards.

Organized jointly by financial publication Banking Frontiers and Deloitte; Finnoviti Awards highlights the innovation quotient at an organization in the BFSI sector by assessing the contribution of IT service providers who often act as catalysts for innovation in the BFSI sector. The esteemed jury at Finnoviti believes that the BFSI sector do not receive the recognition they deserve on account of factors starting from the stringent regulations to the faster pace that is required in rolling out products and services in order to cope with competition to the stricter technology framework that governs the entire system. Finnoviti is hence intended to uncover and recognize these underlying innovations and reward them so that there is an element of encouragement for the stakeholders.

“It is a great achievement and honour that Magma has won this prestigious award at the Finnoviti Awards 2016, among other corporate entities who participated in this category. We feel proud as it has duly recognized our sales enablement project titled Mobility, said Mr. Ram Kalyan Medury, CIO, Magma Fincorp Ltd.

Banking Frontiers Introduced Finnoviti Awards in 2012. This is the 4th successive edition of the award. This year Finnoviti received a bunch of over 162 entries from 75 organizations across the BFSI Sector.