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Cisco says jump in India business aftert demonetisation, opens 1st digital centre

LiveMint logoLiveMint 09-06-2017 PTI

Mumbai: American network hardware manufacturer Cisco on Friday said it is witnessing a jump in demand by Indian banks since the demonetisation move, which made it open its first global digital experience centre in Mumbai.

“Overall we see a significant ramp-up...requirements are coming from them, especially since November last year. That is where we have also seen growth,” Cisco India’s president Dinesh Malkani told reporters.

He said digital solutions are “top of the mind” even for the state-run lenders, who are wanting solutions on a variety of aspects. The company has nine innovation centres globally at places like San Jose, London, Tokyo and Berlin, but this is a global first where it has launched a dedicated ‘digital experience centre’ targeted at the banking, insurance and financial services sector.

A company spokesperson said the centre located inside a company office at the Bandra Kurla Complex business district is spread over 400 square feet.

Company officials declined to give the exact investment details on the centre, but said this is part of a $100 million commitment done as part of Country Digitisation Acceleration (CDA) programme announced earlier.

Malkani said Indian banks earlier had to travel to its innovation centres, mostly to the US, to understand technologies, and added the presence of finance companies in the BKC will help. Apart from looking at available solutions, clients will be able to co-create solutions along with Cisco’s staff.

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