During the late ’80s, when the Indian FinTech sector was in need of more innovative initiatives to sustain, the first generation entrepreneur, Jignesh Shah, launched his flagship product Financial Technologies India Limited (FTIL) that completely changed its outlook. It provided solutions that were desperately needed for the emerging computerization in the banking sector. Besides that, FTIL created millions of job opportunities throughout the country that were not only of high standards but also, environment-friendly. In other words, the exchange curated an eco-system that resembled the ideologies of the ‘Make in India’ campaign before it was introduced by our Prime Minister in 2014. Today, FTIL stands as a pinnacle that opened up innumerable opportunities for the development of India.
Jignesh Shah, who was once an employee at the Bombay Stock Exchange (BSE), is known as the king of commodity exchange today. During his time at BSE, he wanted to create new-generation markets and segments that are people-centric and have a comprehensive market structure. His dream was to establish a Public-Private Partnership (PPP) model to build world-class financial institutions and modern IP-centric financial markets to extend India’s reach. After working at BSE for some time, he left his job to pursue his dreams. Through strong determination and sheer hard work, he climbed the ladder of success and came up with FTIL in 1988.
FTIL developed numerous share market software that simplified the trading and settlement of Multi-Asset and Multi-Currency products that enabled any exchange to seamlessly operate in both local and cross-border markets. It offered technology IP (Intellectual Property) with domain expertise and strong techno-functional teams for creating next-generation financial markets that are transparent, efficient and helpful for the growing business challenges. Also, FTIL introduced a highly versatile, scalable and robust system known as Exchange Technology Framework Product Suite (ETFPS) that covered every aspect from the trading to settlement in the exchange operations.
In 2016, FTIL introduced its flagship product, ODIN, to the world. The initiative was a tremendous success that left the whole world in awe. It captured the second largest market share in the trading terminal segment. Now, through a single application, one could trade in Multi-Exchanges, Multi-Segment Dealing Desk, and Risk Management System. Also, many features were introduced in advanced technology that facilitated higher accessibility, ensured speedy performance, and provided advanced risk management. Besides providing FinTech solutions, it created approximately 25 lakh jobs in the country and helped in empowering the citizens of India. The total contribution made by FTIL to date amounts to 1% of the overall GDP.
