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Winsoft: Helping Banks Digitize

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Prasad Khandkar, Nirmal Jain & Ajit Bhansali, Directors

Winsoft is a Fintech solution provider based out of Mumbai & Pune, with a strong 120+ team of “Winsoftians”. Winsoft delivers financial technology solutions for the BFSI sector. It specializes in software solutions for automating the entire value chain of financial products distribution, and has a blue-chip client list that comprises nearly all of India’s top private banks. Established in 1993 by 3 technology experts, Winsoft has been standing firmly behind its customers with more than 25 years of experience in finance and technology.

In conversation with Prasad Khandkar, Ajit Bhansali and Nirmal Jain Directors, Winsoft Technologies India

Financial technology firms with innovative products and services are focusing on some of the most profitable elements of the financial services value chain. How is Winsoft Technologies positioned in this market to enable businesses to shift their focus from getting paid, to giving great service and products?
Prasad: Winsoft has grown rapidly while delivering fintech solutions for more than 50 clients and 150 enterprises including NBFCs, banks, Broking companies, Depository Participants, Insurance distributors,Tax collection intermediaries and the like. Our wealth management software is tailor made according to bank’s requirement helping consumers and end users transact without paper. Winsoft ensures complete digitization of the entire transaction at a lower cost, enriching user experience and processing large

amount of data at the same time. Our solutions comply with all current regulations and come with exhaustive reporting.

Winsoft ensures complete digitization of the entire transaction at a lower cost, enriching user experience and processing large amount of data at the same time


Indian mutual fund industry has seen dramatic improvements in quantity as well as quality of product and service offerings in recent years. What are Winsoft Technologies’ advancements on the same?
Nirmal: Consistently, over the past two decades Winsoft has maintained its position as the leading technology solution provider for funds distribution firms with its comprehensive MF Distribution software. The Mutual fund distribution process is complex and requires fintech at the center for timely and smooth transaction flow. Winsoft’s ‘Smart Mutual’ accomplishes this. It simplifies the banking interface, automates and accelerates brokerage calculation thus minimizing dependency on RTA data, along with ease of back office operation. Recently, Winsoft has added number of features to its flag ship product on the digital initiatives such as Paper less customer on boarding, Paper less Transaction processing and continuously adding more features.

How is Winsoft Technologies prepared for challenges associated with Regulatory compliance and Client Information Management and what are the pain points associated with financial distribution that your company is trying to address for businesses?
Ajit: Winsoft has been a stable presence in BFSI domain over more than 20 years. Our solutions are designed to be scalable and are updated constantly with changing regulatory compliances.

Our team closely works on the ground with customers, and this helps us understand and swiftly respond to even the smallest need and changes that regularly come about by way of regulations promulgated by a clutch of regulators such as SEBI and RBI. We regularly refine KYC processes, enhance our systems for increasing transaction loads, integrate multiple legacy applications, provide visual dashboards for real time updates and constantly comply with stringent VAPT (vulnerability assessment and penetration testing) requirements of our client banks.

How does the Winsoft team go about implementing successful solutions in Fintech?
Nirmal: Winsoft has an emphatic record of successful financial solution implementations for numerous clients. One recent successful implementation is for a reputed private bank, of our end-to-end wealth management system for Mutual Funds, Insurance, IPO(ASBA)and other alternative assets. This was a mammoth exercise that involved a lot of people from multiple departments and branches in the implementation process, and our team delivered within the deadline with complete linkages and systems integration. Our execution philosophy is based on mutual trust and respect, and we try to be flexible in accommodating our customer’s needs on the go. In this specific case, our team has built a strong bond with the bank, and have been appreciated by the bank’s execution team. Our endeavour is to extend our successful services delivery model to a larger landscape of the financial market.

What is Winsoft vision and mission for its future prospects?
Prasad: Winsoft will continue to strive in its efforts to provide specialized solutions to financial market intermediaries of any size, with a product/solution fit. We will stay committed to building high performance systems, enable the finest innovations in our software, integrate data silos, support multiple channels of access along with hassle free on-boarding of new clients, and provide precise revenue reporting.

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