MindCraft: Transforming the Financial Services Sector through Technology

Tech trends are changing rapidly and keeping up with these new technologies helps businesses stay ahead in the market. Technology is, no doubt, indispensable for any business to function efficiently and effectively. Moreover, there are many risks associated with lagging behind current technology trends. The right technological investments can help companies stay competitive in today’s business world. MindCraft helps its customers gain competitive edge through technology services like Digital Transformation, Business Insights, DevOps, Cloud and Middleware services.

MindCraft is a Software Services organization that provides solutions for the Banking, Insurance & Financial Services industries. The company was founded in 2002 and has grown steadily over the years. Currently, the company generates nine-figure annual turnover with offices across India, Singapore & the USA.

Exceptional Leader

Hemant Nerurkar, Founder and Chairman, MindCraft, has extensive experience of over thirty years in the IT Industry. His expertise lies in developing strategies to help clients harness the power of technology for business benefits. His clear vision, dexterity, technical expertise and domain understanding combined with his management skills have enabled him to steer MindCraft ahead in the IT consulting and services space. These unique capabilities of Hemant are the key assets of the company which have enabled it to increase the turnover as well as achieve higher levels of customer satisfaction. Under his able leadership, MindCraft has enjoyed stable growth since its inception and he has been instrumental in building a great team.

Challenges Faced

MindCraft was incorporated just after the dot com bubble burst and faced several challenges, prime among them being – size and lack of branding. It is obvious that such market crashes can adversely affect new companies. But the alliance with IBM in 2003 helped MindCraft continue the business successfully and grow it further. The company continues to invest in building skills on IBM platforms and selling IBM software.

Advice for Budding Entrepreneurs

“Patience is a virtue as it takes a while to gain firm footing in the market. It is essential to set small goals while not losing sight of the big picture. Most importantly, build a team. You cannot succeed alone!”, says Mr. Nerurkar.

Client-centric Approach

MindCraft offers a range of services that help businesses leverage technology, and solutions that help improve operational efficiency. The mission of the company is, “Building ‘Excellence’ and delivering ‘Value’ by providing innovative and world class solutions”. MindCraft has based its business model on a client-centric approach and specializes in providing end-to-end services. Above all, the unflinching commitment to its core values like integrity, transparency, and trust has helped the company gain customer confidence and grow business.

MindCraft’s esteemed clients include some of the largest Indian companies in the BFSI sector, like Axis Bank, Birla Sun Life Insurance, Bombay Stock Exchange, Edelweiss, HDFC Bank, ICICI Bank, Reliance Life Insurance, Kotak Bank, NCDEX, NSDL, Ratnakar Bank SBI Life Insurance, Tata AIA Life Insurance, Yes Bank, etc.

Awards and Achievements

At the very beginning of its journey, MindCraft rolled out one of the largest JD Edwards ERP implementation in consortium with a consulting partner. The company has successfully implemented several large and challenging projects for clients that helped them gain recognition in the industry and establish the brand.

Various partners of the company have commended MindCraft with numerous awards such as Best Business Partner Award, Client Value Innovation Award, Trail Blazer Award, Best Software Solutions Provider – West Zone, Partner Excellence Award, New Technology Partner of The Year, etc.

Moving Towards a Robust Future

Emerging technologies have reshaped the financial services industry. The sector encounters increased uncertainty and unusual business opportunities with the inclusion of technologies like mobile, cloud, big data and analytics.

The company believes in staying nimble and continuously reinventing itself to satisfy clients’ needs.  In the next few years, MindCraft wants to be the technology partner of choice for the Financial Services industry with a clear focus on building innovative, mission-critical solutions.