RNIT AI Solutions Ltd has entered into a Master Development Services Agreement with 1FC Technology Pvt Ltd for the design, development, integration, testing and deployment of technology solutions for 1FC’s digital financial ecosystem.
The engagement will cover 1FCode, a financial and wealth technology platform, and 1FC Insure, an insurance technology solution. The partnership marks RNIT’s strategic entry into the FinTech, WealthTech and InsurTech segments, leveraging its capabilities in artificial intelligence, digital identity, software engineering, analytics and systems integration.
The 1FCode platform will offer solutions across investment and portfolio analytics, financial planning, lending, insurance, digital onboarding and identity, data aggregation, financial analytics, customer management, regulatory and compliance technology, among other digital financial services.
RNIT’s AI assistant NIA will be integrated into the platform to provide conversational support, contextual financial information, multilingual interactions, voice input and text-to-speech, goal-based financial planning, information presentation and compliance-focused AI functionality.
The 1FC Insure platform will cover insurance processes including PoSP onboarding, training and certification, insurer and product integrations, quotation and policy issuance, policy servicing and renewals, claims management, commissions and payouts, AI-based document OCR, CRM, analytics, regulatory reporting and customer self-service.
Through the agreement, RNIT aims to extend its existing technology capabilities into an integrated digital financial ecosystem spanning financial intelligence, wealth management and insurance technology.