Thank you RBI

This week we were formally notified that IRIS Business has won a prestigious global award from the highly respected magazine called Central Banking.? This is huge.

In an article explaining why they picked us for this singular honour, the editors of Central Banking recognize the importance of our role in “helping central banks secure timely financial sector data.” They go on to recognize that “this is not always a trivial exercise given the complexity and scale that is frequently involved.”

As the Reserve Bank of India (RBI) officer who they interviewed has said, ““Supervising about 100 commercial banks, 9,500 nonbanking financial companies and 1,500 urban co-operative banks has been a major challenge for the Reserve Bank of India.”

Your company has helped RBI cope with the challenge and continues to do so. We started working with RBI in 2008 and are grateful for the opportunity provided by them. Our product iFile has been deployed at RBI.

I want to explicitly recognize Dr Radhabinod Barman Barman and Dr. Ramasastri A.S for the faith they reposed in us and for trusting us to deliver. Innovation can never happen in a void and it is a combine of a willing customer and a competent vendor that ensures success. RBI has been a fantastic customer and I can tell you after working with so many regulators across the world that they must rank at the very top among the best in the world. Officer for officer, the RBI staff can hold their own with anyone anywhere in the world.

Today, we work with over 30 regulators worldwide, including central banks, stock exchanges and business registries helping each of them transition to state of the art supervisory systems in this increasingly digital world. We are being recognized not just for the work at RBI but the work we have delivered at central banks and financial regulators in many other countries around the world, including Bhutan, Jordan, Mauritius, Nepal, Qatar and so on.

Here’s a link to the article which I hope you will find time to read to learn about how we are making a difference to the world, one country at a time, one regulator at a time. It is no hyperbole when I say that we impact the lives of 1 in 5 people living today. (It helps to live in the most populous country in the world, I suppose)

The award comes as we complete 20 years of IRIS and 16 years after we started working with RBI. Through changes in personnel at RBI and at IRIS, we have stayed the course recognising the enormity of the burden we carry of helping RBI keep the Indian banking system safe.

Thank you RBI