Agile ties up with Theme Technologies

MUMBAI, INDIA: Agile Financial Technologies (Agile FT), a provider in software and services to the insurance, banking and financial services sector, today announced the signing of an agreement with India based Theme Technologies that would enable Agile FT to acquire Theme’s Micro-Finance, Micro-Credit and Credit Management product stack, in an earn-out mechanism over three years.

The products would be rebranded and launched as Agilis Universal Microfinance and would enable Agile FT offer Agilis UMF as both a software platform and as an outsourced service to Micro Finance Institutions (MFIs) in emerging markets.

The immediate thrust would be in Africa, Middle Eastern markets like Saudi Arabia and Egypt and South and S.E. Asian markets including Indonesia, Malaysia, Philippines and Vietnam.

Agilis UMF is an all encompassing solution that enables MF institutions rapidly reaches the under-banked rural populace using mobile and smart card technology.

Kalpesh Desai, CEO, Agile FT, said, "From a modest beginning on a pilot basis in 1992, the microfinance industry in India has now touched the lives of more than 50 million people. The need of the hour is to enable delivery of services such as credit, pensions and insurance to this community quickly and efficiently, which is possible only through cost effective yet scalable technology.”

He added that Agile FT is proud to partner in India's development and progress by launching Agilis UMF and making a positive impact on the lives of millions of people who could benefit through their technology.

With Agile FT’s core insurance offering, Agile FT is able to provide a holistic offering to the insurance sector as well. There is an increasing need to offer MFI members access to micro-insurance products that are community based or led and are affordable and yet provide adequate protection, and Agile FT is now well positioned to enable MFIs provide the same.

Kanthimathinathan, MD and CEO of Theme Technologies said, “This relationship is based on the synergy between the two enterprises. Themepro (now Agilis) Universal Microfinance Solution is proven, established and mature with leading institutions such as the Repco Foundation using the same.”

He added that Agile FT would provide Theme the right global reach in the emerging markets that is required to ensure that MFIs have access to their platform and their technology. Agile FT would leverage Theme’s strong product and domain skills and delivery management in their initiative to reach the market.