The business tycoon, Jignesh Shah, is one of the main reasons behind the development of the Indian FinTech industry. His contributions had an immense impact on the growth and development of the financial sector and unveiled a different side of India in front of the world. Also, the banking sector experienced tremendous growth owing to the various solutions provided by this sector during the emergence of computerization in India. With his flagship product Financial Technologies (India) Limited (FTIL), currently known as 63 Moons Technologies Limited, he brought in a revolution in the financial sector of India.
Shah’s journey started in 1988 when he launched FTIL in the hope of developing the nation. His dream was to create new-generation markets and segments that are people-centric and have a comprehensive market structure. He wanted 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. While enriching himself as a by-product, he wanted to empower the nation by providing job opportunities to millions of people. His idea of developing the nation was by providing employment to its citizens that were not only of high-standards but environment-friendly as well. Before our Prime Minister, Narendra Modi, introduced his ‘Make in India’ campaign, Jignesh Shah was already following a strategy that reflected its ideologies.
Shah once belonged from a bourgeois family, but with his impeccable will-power and through sheer hard work, he made his way to the list of billionaires of India. His exchanges designed various solutions that provided assistance to various sectors of society. Numerous share market software were designed that facilitated trading and settlement of Multi-Asset and Multi-Currency products and allowed exchanges to operate in both local and cross-border markets without any complication. Further, it designed technology IP (Intellectual Property) with domain expertise and strong techno-functional teams for generating transparent and efficient next-generation financial markets and helping out various businesses. Apart from that, FTIL introduced a highly versatile, scalable and robust system known as Exchange Technology Framework Product Suite (ETFPS) designed to cover each and every aspect from the trading to settlement in the exchange operations as well. ODIN was another initiative resulted in tremendous success. It attained unattainable results after capturing the second largest market share in the trading terminal segment. Through a single application, one could trade in Multi-Exchanges, Multi-Segment Dealing Desk and Risk Management System. Various other features in advanced technology facilitated higher accessibility, ensured speedy performance, and provided advanced risk management.
