Tech Mahindra is eyeing opportunities in neighbouring Bangladesh, as India’s fifth-largest IT services exporter considers it a politically stable and growing economy. The $4.9 billion IT services firm receives more than 5% of its overall business from India currently, and is looking to create more opportunities in neighbouring markets.
“Many tech services companies are on the ground. One of the reasons Bangladesh has woken up to create a strong technology infrastructure is the cyber attacks on banks there. Three banks — Dutch Bangla Bank, NCC Bank and Prime Bank — have faced cyber attacks recently. This is the biggest round of attacks post the attack on Bangladesh Bank for USD 81 million. There are a total of 58 banks in the country and only three — Eastern Bank Limited, City Bank and Mutual Trust Bank Limited — have got certification for complying with the Payment Card Industry Data Security Standard (PCI DSS) set by Visa, MasterCard, Discover Financial Services, JCB International and American Express,” said Sanchit Vir Gogia, chief executive, Greyhound Research.
Analyst:
Sanchit Vir Gogia: Sanchit is the Chief Analyst, Founder & CEO of Greyhound Research, a Global, Award-Winning, Technology & Innovation Research & Advisory firm. To read more about him, click here.
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