KGISL-P Will Target Major US Companies in the Banking, Financial Services and Insurance (BFSI) Industries and Its Clients in the Healthcare SectorSterling, VA, September 1, 2009 — InferX Corporation (NFRX:PK) today announced an MOU with KG Financial Systems Limited (KGfSL) and KG Information Systems Limited (KGiSL) for the KG Group of companies to market InferX products and solutions to its client base in the Banking, Financial Services and Insurance (BFSI) and Healthcare sectors in the United States, India and globally.
Under terms of the agreement, the KG Group of companies will license InferX products and develop specific Banking, Financial Services and Insurance (BFSI) and Healthcare sector solutions under the direct guidance of InferX technical managers. The InferX solutions will feature InferX's proprietary Predictive Analytics (PA) technology to deliver next generation business intelligence solutions for the KG Group's global corporate and government clients.
"The ability to enhance our current portfolio of business performance management solutions with InferX's real time, distributed predictive analytics technology provides us with a new competitive edge," says Sridharan Srinivasalu, Executive Director of KG Group of Companies. "We are very optimistic about the outlook of our collaboration with InferX based on our ongoing meetings with several of our major U.S. and overseas institutions in both the commercial and government sectors," said Mr. Srinivasalu, Executive Director of KGiSL/KGfSL.
InferX will train KGISL technical and project management staff on InferX's products and technology and ensure active participation by the KG group of companies in InferX sponsored events. KGISL will share its engineering and data analysis capability with InferX to deliver next generation predictive analytics solutions for BFSI and healthcare sector solutions.
"Next generation PA for BFSI and Healthcare is essential for organizations that must quickly access large amounts of widely distributed data, often with varying protocols, structures and formats," said B.K. Gogia, Chairman & CEO. "InferX's patented technology complements KGiSL's software solutions portfolio with a key feature — real-time global access to globally distributed structured and unstructured data sources, eliminating the need for centralized data warehousing. The collaboration between InferX and the KG group of companies will offer new and exciting performance management options for the clients of the KG group of companies," said Gogia.
About InferXInferX (OTCBB: IFRX) is a market leader in next generation business intelligence solutions and predictive analytics technologies. InferX has pioneered and commercialized a powerful, proprietary suite of advanced business intelligence and data analytical risk and threat assessment solutions including:
- InferAgent, a technology that accesses, analyzes and performs predictive analyses in real-time on multiple, distributed, disparate databases;
- InferText, a technology that accesses, analyzes and performs predictive analyses on documents, reports, e-mails and other texts;
- InferCluster, a technology that allows users to automatically identify data clusters and outliers hidden in large amounts of data;
- Distributed Data Analytics Platform (D2A), used to concurrently analyze data using InferAgent, InferText and InferCluster.
ABOUT KGISLKGiSL Group of Companies is a $500 million revenue group and a part of KG group, a premier industrial group in South India. The KG Group is a conglomerate of complementary multi-business units with interests in various verticals such as textiles, engineering, healthcare, finance, travel, entertainment, infrastructure and education.
The Chairman of KGiSL, Padmashree, Dr. G. Bakthavatsalam, is also the founder-Chairman of KG Hospital, a 500-bed multi-specialty high-tech hospital offering a variety of healthcare services.
KGiSl started as a pioneer in business process outsourcing in South India in 1994. It diversified into the area of software development in 1995. Since 1995 the company has had experience in providing technological solutions for various verticals, including the healthcare sector.
Today, the company is also one of the leaders in designing and implementing domain oriented technology solutions for the Indian financial services market and the general insurance market; especially with its high-end application framework for the enterprise-level back office system, through its subsidiary company, KG Financial Softwares P Ltd (KGfSL).
KGfSL works with many highly visible clients in the banking and financial services sector. It has a strong workforce which is dedicated to building next-generation solutions for the BFSI space.
As a part of its strategy to constantly research, adopt, and automate the best practices in managing technology, process, and people to provide quality services and solutions to exceed customer expectations, KGiSL teams up with some of the leading technology companies to explore avenues for new business development, knowledge sharing, continuous growth and to make some value additions to its customers.
Now, KGiSL/KGiSL has plans to create a niche in providing predictive analytical products in the Indian BFSI and healthcare space.