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KFintech wins the 2023 Gold Stevie Award for its Digital Transformation in IPO Services

Posted On : 2023-06-06 18:36:12( TIMEZONE : IST )

KFintech wins the 2023 Gold Stevie Award for its Digital Transformation in IPO Services

KFin Technologies Limited ("KFintech"), a leading provider of global investor and issuer solutions, was announced the winner of a Gold Stevie Award for Innovation in Digital Transformation - Financial Services Industries in the 10th annual Asia-Pacific Stevie Awards. KFintech wins the award for their contribution to the capital market in digitally transforming the IPO subscription model with an omnichannel platform using advanced AWS cloudbased services. The platform also enables investors to subscribe to IPOs through multiple channels, such as online, mobile, and offline, providing a seamless and convenient experience.

KFintech's revolutionary solution offers access in milli seconds to the investors of IPO information point in time of allotment results, marking a first for India. Leveraging the comprehensive suite of AWS services such as compute, serverless, databases, and analytics, KFintech effortlessly handled India's largest IPO, providing share allotment results to over 7.5 million subscribers within a 5 millisecond lag upon login. Leveraging hyper scalability and agility of AWS, KFintech's IPO solution can efficiently process more than 100,000 investor requests for IPO information per second. The solution architecture driven by AWS Lambda and Amazon DynamoDB delivered fast response times during sixfold transaction spikes at IPO launches. KFintech connects investor requests using Amazon API Gateway, AWS Lambda, and Amazon DynamoDB. Additionally, KFintech solutioned usage of Amazon Kinesis for audit and compliance requirements.

"By building India's first IPO solution on hyper scale Cloud platform, we gave investors instant access to IPO allotment results, empowering them to make smarter investment decisions," said V.Venkata Giri, Chief Technology Officer at KFintech. "This resilient and self learning architecture enables us to rapidly scale with customer demand for investment services and transform the issuer solutions industry. As the IPO market surges, our first in class, innovative cloud-based solution shall make investing convenient and easily accessible to all."

"Financial services companies across Asia Pacific are using the power of cloud computing to deliver value to investors and brokers in IPO markets.

With IPO solution on Cloud offered as a service, KFintech makes the IPO markets more accessible and investing easier. KFintech has built a hyper scalable, real time, secure, precision track & trace audit compliance and resilient system to serve more Indian companies and their investors.

Winning the Gold Stevie award in "Innovation in Digital Transformation" category across Asia Pacific region competing with Fortune 500 companies is a matter of pride for our organization as we continue to make rapid strides in setting standards in Capital Markets infrastructure solutions", said Sreekanth Nadella, MD & CEO of KFintech.

Shares of Kfin Technologies Limited was last trading in BSE at Rs. 338.10 as compared to the previous close of Rs. 331.95. The total number of shares traded during the day was 42180 in over 2174 trades.

The stock hit an intraday high of Rs. 341.60 and intraday low of 328.55. The net turnover during the day was Rs. 14268169.00.

Source : Equity Bulls


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