IBM enters into 6-year agreement with JFS

IBM today announced that it has entered into a six-year agreement with India-based micro finance provider Janalakshmi Financial Services (JFS)to transform its business and technology capabilities.
The company however did not reveal the financial aspect of the deal.
Utilising IBM's business consulting expertise combined with the Big Data and analytics, cloud and mobile capabilities, the company will strive to expand on its plans and vision to deliver affordable financial services to individuals and enterprises across India, the officials said.
JFS provides innovative solutions for the urban under-banked and for the untapped nano and micro enterprise segment in India.
"...This particular relationship I think allows us to exercise an industry transformation which is such a big part of a national agenda, as well as the corporation we are working with....," IBM India Managing Director Vanitha Narayanan told reporters here.

She said: "we are pleased to join JFS in its journey to help drive financial inclusion across India, empowering citizens with access to financial services that improves financial stabality and quality of life".
"By leveraging leading Big Data, analytics and mobility solutions, JFS will be able to use the power of technology to differentiate and drive profitability, which is critical to its expansion and growth," she said.
She said that through this engagement IBM will be able to help JFS make critical strides in achieving business transformation, improve service delivery and increasing customer satisfaction.