VGIL: Enhancing Financial Inclusion and Operational Efficiency with End-to-end IT Solutions
Virtual Galaxy Infotech Limited (VGIL), the brainchild of first-generation entrepreneur technocrats, Mr Avinash Shende and Mr Sachin Pande, is a distinctive IT firm. It specialises in providing comprehensive core banking solutions to co-operative banks, societies, Nidhi companies, and NBFCs, as well as ERP services to SMEs and mid-corporates.
Since its inception in 1997, VGIL has been a pioneering technology solution provider, primarily operating in banking/BFSI, fintech, ERP, and e-government domains. With a presence in 20 states of India and East Africa, VGIL is dedicated to leveraging cutting-edge technology to deliver innovative solutions that drive efficiency, growth, and financial inclusion for its diverse clientele.
The objective behind the formation of VGIL is to bridge the gap between traditional banking systems and emerging digital solutions, particularly for cooperative banks and SMEs. Avinash and Sachin, as tech leaders, were driven by a passion for innovation and a commitment to enhancing financial inclusion and operational efficiency across various sectors. They established VGIL to deliver customised, scalable solutions that could drive meaningful change in these sectors. Over the years, their dedication to innovation and customer-centricity has fueled the growth and expansion into new markets.
Core Values and Mission
VGIL is driven by core values of innovation, integrity, customer-centricity, and excellence. The company’s core mission is to empower businesses and government entities by offering cutting-edge technology solutions that improve efficiency, transparency, and growth. Its goal is to foster financial inclusion and long-term client relationships while also driving economic growth.
Innovation and Tech Integration at VGIL
At VGIL, the team has integrated advanced machine learning algorithms to offer predictive analytics, assisting clients in making well-formed business decisions. Furthermore, its digital payment solution, V-Pay, is a comprehensive platform that includes UPI QR, PoS/Soft PoS, Payment Gateway, and more, facilitating seamless financial transactions and enhancing financial inclusion for small businesses.
Post Mortem Automation System: The Notable Milestone
Post Mortem automation system is one of VGILs recent projects. It can generate a wide range of Management Information System (MIS) reports with unparalleled flexibility, scalability, and customization options. This project not only showcased the company’s ability to handle international projects but also significantly expanded its global footprint, contributing to its growth and positioning VGIL as a trusted global player in the Fintech and Banking sectors.
Awards and Achievements Along the Way
VGIL has achieved significant milestones including leading in innovation delivering high-impact solutions across various sectors and serving a large and diverse clientele. Notably, the company has captured a 35% market share in Maharashtra’s District Cooperative Banks sector. VGIL has successfully executed four World Bank projects, demonstrating its capability to deliver large-scale and high-impact solutions.
In addition, VGIL received the Scroll of Honour at the Navabharat Navarashtra Conclave 2024, in recognition of its contribution to Maharashtra’s economic developments. The company has also been honoured with prestigious awards like the CIO Forum’s Global Excellence Award and the Asia Leadership Award validating the company’s industry leadership and technological excellence.
Industry Transformation in Future
In the next five years, there will be transformative advancements, particularly in Artificial Intelligence (AI) and Machine Learning (ML), which will greatly impact the BFSI and Fintech sectors. These technologies will drive greater automation, personalization, and operational efficiency, enabling financial institutions to offer more intelligent, customer-centric solutions. AI and ML will enable deeper insights from large datasets, enhancing decision-making processes in areas such as risk management, fraud detection, and predictive analytics.
The Future Outlook
VGIL stands at the forefront of a digital transformation poised to revolutionize banking and financial technology. It aspires to drive this change by developing AI-powered solutions that will reshape how businesses and individuals interact with financial services.
The team envision creating a future where banking is intelligent, predictive, and personalized, making every interaction seamless, secure, and efficient. To achieve this, VGIL is investing heavily in AI and ML technologies. By integrating the technologies into the core solutions, they are preparing to address the evolving demands of the financial sector.
Closing Message
Embrace innovation, stay adaptable, and collaborate to build a more sustainable, equitable, and prosperous future. When utilised effectively, technology can drive business success and contribute to global development.
