Haragopal Mangipudi, credited for Infosys' enterprise banking platform Finacle, who quit Infosys last month, has started its own financial services startup called FinUNO in the US, as per a report in The Economic Times.
Mangipudi is setting up a team of eight executives for FinUNO which will act as a virtual relationship manager for financial services institutions and it will provide a next generation banking solutions.
This will be done by leveraging disruptive technologies, including machine learning, natural language processing and Big Data analytics. "A dedicated VRM (virtual relationship manager) transcends financial transactions in meeting the social and commerce needs as well of a consumer," Mangipudi told the paper.
He said he is in talks with VC investors for seed funding.
Mangipudi was appointed to Infosys' executive council last year along with growth market’s head Dheeshjith VG and eight others. After working for over two decades with the IT major, he quit the company to start his own venture.
Most recently he served as the global head of Finacle and was responsible to run this business globally.
The other Infosys' veterans who quit the company to start the new ventures include co-founders SD Shibulal and Kris Gopalakrishnan who together formed an incubator, Axilor Ventures, to mentor and back early-stage ventures, Mohandas Pai and V Balakrishnan also joined hands to set up a technology investment fund, Exfinity Fund.
(Edited by Joby Puthuparampil Johnson)
