Infibeam Avenues Ltd, a listed fintech company, has announced its foray into the capital markets and digital lending software market by acquiring a significant 49% equity stake in Pirimid Fintech, investing Rs. 25 crore to solidify this partnership.
According to the company, this move is in direct response to the surging demand in the thriving global capital markets for cutting-edge secured and zero latency AI backed software to streamline trading, research and investment processes.
“Artificial Intelligence (AI) is transforming the capital market, with stockbrokers, mutual funds, corporate treasuries, and investment banks using AI backed trading software for algorithmic trading strategies, which not only boosts performance, accuracy, and returns but also enhances compliance, fraud detection and prevention,” the company said in a release.
Alongside its presence in the capital markets technology space, Pirimid Fintech is also making strides in the digital lending sector with modern loan origination systems, data sourcing and advanced business rule engine (BRE).
“Leveraging the expertise and technological foundation provided by Infibeam Avenues, Pirimid Fintech is poised to develop innovative digital lending solutions to streamline the lending process, offering faster and more efficient credit disbursement, enhanced customer experience, and improved risk management through advanced data analytics and AI algorithms,” the company added.
Pirimid Fintech specializes in developing customized capital markets and digital lending products, tools, services, and workflows to meet specific client needs. Notable clients include BidFX, a subsidiary of the prestigious Singapore Exchange (SGX), as well as financial institutions like Bank of Baroda and Lendingkart.
Infibeam Avenues Ltd, which had processed worth US$54 billion of transaction in FY23, expects to witness an increase in its payment processing business through this strategic investment.