KFintech wins the 2023 Gold Stevie Award for its Digital Transformation in IPO Services
Recognition demonstrates KFintech’s continued commitment to be at the forefront of digital transformation and issuer solutions for the financial industry
HYDERABAD, India, June 6, 2023 /PRNewswire/ — KFin Technologies Limited (“KFintech”), a leading provider of global investor and issuer solutions, was announced the winner of a Gold Stevie Award for Innovation in Digital Transformation – Financial Services Industries in the 10th annual Asia-Pacific Stevie Awards. KFintech wins the award for their contribution to the capital market in digitally transforming the IPO subscription model with an omnichannel platform using advanced AWS cloud- based services. The platform also enables investors to subscribe to IPOs through multiple channels, such as online, mobile, and offline, providing a seamless and convenient experience.
KFintech’s revolutionary solution offers access in milli seconds to the investors of IPO information point in time of allotment results, marking a first for India. Leveraging the comprehensive suite of AWS services such as compute, serverless, databases, and analytics, KFintech effortlessly handled India’s largest IPO, providing share allotment results to over 7.5 million subscribers within a 5 millisecond lag upon login. Leveraging hyper scalability and agility of AWS, KFintech’s IPO solution can efficiently process more than 100,000 investor requests for IPO information per second. The solution architecture driven by AWS Lambda and Amazon DynamoDB delivered fast response times during sixfold transaction spikes at IPO launches. KFintech connects investor requests using Amazon API Gateway, AWS Lambda, and Amazon DynamoDB. Additionally, KFintech solutioned usage of Amazon Kinesis for audit and compliance requirements.
“By building India’s first IPO solution on hyper scale Cloud platform, we gave investors instant access to IPO allotment results, empowering them to make smarter investment decisions,” said V.Venkata Giri, Chief Technology Officer at KFintech. “This resilient and self learning architecture enables us to rapidly scale with customer demand for investment services and transform the issuer solutions industry. As the IPO market surges, our first in class, innovative cloud-based solution shall make investing convenient and easily accessible to all.”
“Financial services companies across Asia Pacific are using the power of cloud computing to deliver value to investors and brokers in IPO markets. With IPO solution on Cloud offered as a service, KFintech makes the IPO markets more accessible and investing easier. KFintech has built a hyper scalable, real time, secure, precision track & trace audit compliance and resilient system to serve more Indian companies and their investors.Winning the Gold Stevie award in ‘Innovation in Digital Transformation’ category across Asia Pacific region competing with Fortune 500 companies is a matter of pride for our organization as we continue to make rapid strides in setting standards in Capital Markets infrastructure solutions”, said Sreekanth Nadella, MD & CEO of KFintech.
About KFin Technologies Limited
KFin Technologies Limited (“KFintech”) is a leading technology driven financial services platform providing comprehensive services and solutions to the capital markets ecosystem including asset managers and corporate issuers across asset classes in India and provide several investor solutions including transaction origination and processing for mutual funds and private retirement schemes to asset managers in Malaysia, Philippines, Singapore, Hong Kong and Canada. In India, KFintech is the largest investor solutions provider to Indian mutual funds, based on number of AMCs serviced as on March 31, 2023, and the largest issuer solutions provider based on number of clients serviced, as on March 31, 2023. KFintech is the only investor and issuer solutions provider in India that offers services to asset managers such as mutual funds, alternative investment funds, wealth managers and pension as well as corporate issuers and is one of the three operating central record keeping agencies for the National Pension System in India. KFintech is listed on the National Stock Exchange of India Limited and BSE Limited. The promoter of KFintech is General Atlantic Singapore Fund Pte. Ltd (“GASF”), a leading global private equity investor.
For more information, please visit the website: https://www.kfintech.com/
About the Stevie® Awards
Stevie Awards are conferred in eight programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, the Middle East & North Africa Stevie Awards, The American Business Awards®, The International Business Awards®, the Stevie Awards for Women in Business, the Stevie Awards for Great Employers, and the Stevie Awards for Sales & Customer Service. Stevie Awards competitions receive more than 12,000 entries each year from organizations in more than 70 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at http://www.StevieAwards.com.
Sponsors and partners of the 2023 Asia-Pacific Stevie Awards include Adobo Magazine and PR Newswire Asia.
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