IDBI Intech to offer new solutions

IDBI Bank’s infotech subsidiary, on Saturday, said it is in the process of partnering with business analytics software and services firm SAS to offer data mining and business analytics solutions to the banking sector.

“We will soon offer data mining and analytics solutions for which we are in the process of tying up with SAS. This will soon be a huge market. Besides, the Reserve Bank has mandated banks to do data mining,” IDBI Intech Managing Director and Chief Executive Sanjay Sharma said.

IDBI Intech is also looking at acquiring banking software companies. If an acquisition happens, the deal will be funded largely through internal accruals, he said. “We will raise money only if we have to.”

Besides, the firm has developed an automated data flow software product that will be launched by December, he said.