Cygnet receives approval from IFSCA to operate in India’s GIFT City, further strengthening global footprint
Cygnet FinTech IFSC receives official approval from the International Financial Services Centres Authority (IFSCA) to establish its presence in the (GIFT) City. The approval from IFSCA marks a significant milestone for Cygnet, as it expands its reach to serve global customers in the banking, financial services, and insurance (BFSI) sector.
As the first operational greenfield smart city in India, GIFT City offers an ideal ecosystem for fostering innovation and collaboration within the financial services industry. By leveraging this strategic opportunity, Cygnet aims to enhance its global fintech presence, tapping into new markets and creating a strong international foothold. Furthermore, Cygnet intends to extend its support to other registered fintech entities within the IFSCA, fostering a vibrant and thriving fintech ecosystem on a global scale.
“The BFSI industry is a thriving global sector with immense potential for sustained growth. The industry encounters occasional hurdles from manual and phygital interventions, resulting in delays and turnaround time challenges. Cygnet is proud and grateful to have been selected by the IFSCA, as it is first such company based in Gujarat. We aim to enable large platforms for the financial and credit industry, with digitisation and automation considering the advantage we have received being a Technology Service Provider across the globe,” said Niraj Hutheesing, Managing Director at Cygnet Infotech.
With a wide range of offerings, Cygnet is well-positioned to cater to overseas clients through its flagship Credit Assessment and Decisioning platform (FAME). This platform encompasses Bank Statement Analysis and Tax Data Analysis, facilitating comprehensive financial data analysis. In addition, Cygnet provides digital onboarding and verification journeys for vendors and customers in the BFSI sector, as well as RPA Automation, Testing Automation, BOT-as-a-Service, and associated professional services.
At Cygnet, building strong relationships with key stakeholders, regulators, government entities, and industry experts in local and international markets is a top priority. These collaborations elevate Cygnet’s product capabilities to new heights, allowing the company to stay at the forefront of innovation and meet the evolving needs of its customers. Moreover, Cygnet is dedicated to enhancing the customer experience by offering personalized and user-friendly digital platforms and automation solutions. Through these strategic initiatives, Cygnet is poised to deliver unparalleled value and solidify its position as a forward-thinking leader in the fintech industry.
About Cygnet Infotech
With a vision of transforming businesses with technology, Cygnet Infotech has established its footprint globally, and they have clients across 35 countries. It offers products, platforms and services across Fintech, TaxTech, Invoice Registration Portal (IRP), RPA Automation, Test automation, Digital Signature, Digital Transformation and Digital Engineering. They have a team of over a thousand people who work on leading technologies, application development on microservices architecture, including Hyper automation, AI & ML, Blockchain, and others, in offices across India, the USA, Europe, the UK, UAE, South Africa, Australia, and other locations. Infotech’s clients include some of the largest global companies in industries such as Digital Media, Internet, Healthcare, Banking & Insurance, and others.
Its recent acquisitions include a leading Artificial Intelligence start-up in India, operational globally and a Tax Technology company in the UK. Cygnet Infotech is a certified Great Place To Work™ and offers attractive employee benefits, including a hybrid working model, flexible working hours, leave encashment options and a robust L&D program.
