IT companies in India are more and more employing financial ecosystem of Singapore to roll out their services and products into ASEAN markets, as per an industry analyst. “Incentives provided by EDB (Economic Development Board) of Singapore prompts and excites midsize and large firms to merge their treasury processes in the venture and city state all over the region of South East Asia,” claimed Deep Singhania, to the media in an interview. Singhania has invested more than 30 Years in the IT sector.
Being a trade endorsement state organization, EDB offers FTC (Finance and Treasury Center) incentive. On the other hand, Singapore has combined as a regional treasury and risk management hub, he claimed to the city state that is now an highly praised wealth management and asset center. AugmentSol, the consultancy company and Singapore advisory of Singhania, is already leading lot of companies in India to grow in SouthEast Asia employing Singapore as the foundation.
AugmentSol’s newest business enterprise is with IBSFintech, the latest winner of presumed “Adam Smith award” of treasury and corporate finance in the world. In 2017, IBSFintech took control of trade finance and treasury of Maruti-Suzuki, beginning with tracking of investment. It also took control of Olam Agro India for forex treasury processes. Now, Olam Agro India is a subsidiary of Singapore-located Olam International. It will be promoting the similar product all over the area.
One more leading IT group of India venturing out of Singapore to the worldwide industry is MindLogicx. It is an R&D and knowledge engineering firm originated from Bengaluru. MindLogicx is founding a worldwide office in Singapore and has rolled out IntelliPAD, its system for anti-fraud examination, all over the world a month back in Singapore for the international examination world. This data was given by industry sources with condition of secrecy.