RNIT AI Solutions has entered into a Master Development Services Agreement with 1FC Technology (1FC) for the design, development, integration, testing and deployment of technology solutions forming part of the 1FC digital financial ecosystem, comprising the 1FCode financial and wealth technology solution and the 1FC Insure insurance technology solution. The agreement is valued in range of Rs 5 crore to Rs 15 crore.
The engagement represents RNIT's strategic entry into the FinTech, WealthTech and InsurTech domains and extends the company's Artificial Intelligence, digital identity, software engineering, analytics and systems-integration capabilities into the BFSI technology ecosystem.
The 1FCode solution will bring together technology capabilities across investments and portfolio analytics, financial planning, lending, insurance, digital onboarding and identity, data aggregation and integrations, financial analytics, spending and budget intelligence, customer management, regulatory and compliance technology and related digital financial-management functions.
RNIT AI Solutions (formerly known as Autopal Industries) offers a comprehensive suite of solutions that include Artificial Intelligence (AI) based Facial Identification System, Internet of Things (IoT), Data Analytics, Digital Transformation and Open-Source Enterprise Resource planning (Open source - ERP).
