Fair Isaac to tap Indian mkt

With the Indian economy growing, US-based Fair Isaac, specialising in business analytics software products for the banking, financial, insurance and retail sectors, is planning to tap domestic firms for growth.

At present, Fair Isaac has one Indian client "" ICICI Bank. It also serves some international banks operating in India.

"We see a lot of opportunity for growth here. With Indian banks planning to adopt Basel-2 norms (standards for minimum capital requirements for banking operations "" capital adequacy, supervisory review and market discipline), there is scope for our products. We are also targeting banks aiming at globalising their operations," Fair Isaac CEO Mark Greene said.

The $825 million company intends to open its sales and marketing office in Mumbai soon. "We are in talks with all the leading banks. We will also engage insurance companies and retail firms in India," he added.

Fair Isaac also specialises in predictive modelling, decision analysis, intelligence management and decision management systems.

The company has a 300-member development centre in Bangalore focussing on software for business analytics.

"We are planning to expand the centre by adding 50-100 professionals shortly. We want Bangalore to become the centre for Asian operations, including China," Greene said.