New name at 3i Infotech's helm

MUMBAI, INDIA: 3i Infotech, today announced the appointment of Parag Patankar as Managing Director & CEO for 3i Infotech BPO. With the consolidation of all domestic BPO businesses under 3i Infotech BPO, this leadership role is expected to provide the necessary thrust for the company in the Indian market place, says a press release.

Patankar joins 3i Infotech from Development Credit Bank Limited where he was Executive Vice President and Chief Operations & Technology Officer. In his earlier roles, Patankar was part of the core team that set up the Retail Financial Services business of ICICI Bank in 1997 and 3i Infotech (formerly ICICI Infotech) in 1999. He also co-founded Apnaloan in 2000, a highly technology enabled vendor neutral distributor of financial services and served as its Director, CIO & Business Head till 2005.

Welcoming Parag Patankar,  V Srinivasan, MD & CEO, 3i Infotech said, “ With his deep knowledge of BFSI industry coupled with his long experience in technology and operations relating to BFSI, Parag will be able to add immense value to 3i Infotech BPO.”

Anirudh Prabhakaran, Executive Director & President – South Asia, 3i Infotech said, “With a lot of emphasis on BPO business in India and the recent consolidation of all our BPO units in India under the 3i Infotech BPO brand, having the benefit of Patankar‘s rich experience in successfully driving business growth will help us further improve our competitive advantage in this field and optimize our business performance.”

Commenting on his new role, Patankar said, “The domestic BPO sector, even as it is growing, is rapidly consolidating. We are seeing the emergence of strong players with a focus on service quality and cost efficiency driven by deep domain expertise and scale of operations. I am delighted to join 3i Infotech and take up this new role as the company gears up to aligning its BPO thrust with its extensive range  of software products and IPRs and grows into a leading player in the market.”

According to the IDC report (2009), India’s domestic business process outsourcing (BPO) market is set to touch $6.82 billion (around Rs 31,700 crore) by 2013.