The acquisition, which is expected to close within one month, after obtaining regulatory approvals, will enable Genpact to offer end-to-end rural banking platform.
A huge business opportunity in India rural banking segment will enable Genpact to tap the opportunity for banking and financial institutions.
Atyati clientele base includes several large Indian Public Sector Banks with a significant opportunity for growth, said the acquirer.
Atyati’s GANASEVA solution is a inclusive, mobility-based technology platform, developed to cater the complete spectrum of banking services to the rural population, such as a fully automated and secure banking platform with smart card and biometrics-based authentication capabilities.
Genpact president and CEO Tiger Tyagarajan said this is a very strategic acquisition adds a platform-based solution in a highly underpenetrated and large market, with significant potential to drive non-linear growth by increasing the coverage and adding multiple financial products for both rural and semi-urban markets on the platform.
"Second, we also add several marquee Indian banks and clients to our portfolio with the ability to cross sell multiple Genpact products and services," Tyagarajan added.
"Third, it leverages all of the latest cutting-edge technology around mobility and biometrics that makes it highly scalable and able to be taken to the global markets, including to the micro-finance institutions (MFIs)."
