CIOAdvisor Apac

Luxoft: Fostering Innovation in the Finance Sector

Andre Nedelcoux

The global Finance industry has gone through a phase of overhaul over the course of the past decade. The advent of newer technologies and globalization across most major verticals has contributed largely to this aspect. The largely dynamic nature of the regulations governing various industries has been a major cause of concern amongst various organizations in the Finance industry. This scenario puts focus on the dire need for firms that offer consultation services pertaining to the effective management of financial services. Luxoft is a company that has been specializing in the provision of consulting and technology services to the finance industry for the past 16 years. Its initial foray into the Finance industry had Luxoft catering primarily to the U.S. and European markets. Over the years the organization extended services to countries in the Asia Pacific and Africa as well. Luxoft further found success in positioning itself as a one-stop-shop for finance from advisory to engineering through the acquisition of the U.K. firm Excellion. This acquisition enabled Luxoft to further strengthen its capability in delivering services to the Finance industry. Its vitality to Luxoft’s service portfolio also prompted the organization to market all their Finance related services under the brand name Excellion.

Luxoft’s services for the finance industry are largely confined to consultation and optimization of systems. Luxoft aids clients in indentifying prevention opportunities and offers transformation roadmaps to consolidate their systems. The company also enables clients to introduce small cost effective solutions on the lines of open-source technologies like the cloud platform, the simplicity of which further facilitates the consolidation of systems. Furthermore Luxoft also helps clients understand the newer innovations that have come in the past few years and how they can be leveraged to address the specific issues pertaining to finance. “We help clients leverage new technologies so things like cloud or big data can be leveraged to optimize their businesses and transform the way they engage with customers,” explains Andre Nedelcoux, Managing Director, Luxoft.

This digital transformation also enables organizations to comply with the changing regulatory changes through the use of flexible platforms derived from the new technologies.

Luxoft has been successful in bringing the various advancements in the field of finance in more developed marked such as the US and UK to help mitigate the various hindrances faced by organizations in the APAC. The deployment of these new technologies has also been at Luxoft’s own initiative owing to a general lack of knowledge on such advancements all across the APAC. Conversely Luxoft also offers insights pertaining to market trends and regulations in various APAC countries to the other markets, so organizations can invest in prospective markets in the region.

Luxoft aids clients in indentifying prevention opportunities and offers transformation roadmaps to consolidate their systems

With a huge network of delivery centres established across the Europe, the U.S. and the APAC, Luxoft has been quite successful in offering a whole range of services pertaining to Finance including Application Outsourcing which has enabled the organization to forge partnerships with several tier 1 elites such as Deutsche Bank, UBS, Citi, Microsoft, AMD among others. With a skilled complement of engineering talent at its disposal, Luxoft is able to dispense a wide range of services across its many locations worldwide which have earned it several accolades including an Outsourcing Excellence Award. In the years to come Luxoft intends to expand its global footprint to serve all the major Global Financial Services Hotspots and branching out to other verticals to serve its clients better.