European Banking Fair Attracts It Firms

A host of Indian IT providers are headed for the European Banking Technology Fair, the leading event for the finance sector in Europe, slated to be held in October this year in Frankfurt, Germany. This fair is a trade show for specialists as well as a conference.

Mergers and strategic alliances, quantum leaps in technology and new market requirements revolutionise the financial world. Banks, insurance companies and institutes linked to banking have to find new ways of streamlining processes and targeting attractive fields of business and reaching their customers. The financial industry needs ideas. The European Banking Technology Fair provides solutions. It also gives a comprehensive coverage of the entire product.

 

The main focus of this year's fair is `Pavilion' which is specially created to highlight Indian software strengths to German and European markets. Pavilion will enable Indian software manufacturers, visionaries, speakers and government leaders to meet the market at Frankfurt.

All recent developments in the Indian economy are indicators of the "opening up" of German markets for Indian companies. `Are you an Indian?' is the latest slogan doing the rounds. It reflects the current campaign of the German government to recruit Indian computer experts to work in Germany.

The recently-concluded visit of German foreign minister Josckka Fischer has reaffirmed Berlin's commitment towards bilateral relations with India as well as setting the stage for a German Year in India in 2000. He arrived in India to launch the green card scheme, which will let in 20,000 IT workers to Germany for a period of five years.

Not just the Germans, but the Swiss, the Irish, the Japanese and most recently the French are flocking to India, the new hotspot on the IT scene.

The Indian government too realises the importance of this exodus. It is attempting to move up the value chain in the software industry, remove infrastructural inadequacies in infotech and telecom sectors and move towards growth of domestic markets.

IT minister Pramod Mahajan says: "Keeping in line with our target of notching up $50 billion software exports by 2008 and generating employment of 2.2 million in the software sector, it is necessary to ensure a right combination of technical, business and functional skills to meet the needs of the customer markets."

All factors point towards just one conclusion: This is the right time for Indian software specialists and products to be in Europe.

For the organisers of the European Banking Technology Fair, Frankfurt is the perfect location for their latest and most future-oriented project. As the hub of European trade, Frankfurt is becoming India's leading financial centre. With over 370 exhibitors from 11 countries presenting state-of-the-art technologies for the financial sector, Frankfurt now hosts the biggest fair of its kind right next to the seat of the European Central Bank.

Indian IT providers have availed of a platform created by Messe Frankfurt Trade Fairs India Pvt Ltd. They organise the Bank Technology India in Mumbai. After the overwhelming success of the premiere of Bank Technology India this year, the company has announced the second edition of Bank Technology India to be held at the World Trade Centre from February 1 to 3, 2001.