Maveric Systems strengthens its domain, digital and, technology-led offerings; appoints three new Vice-Presidents
Chennai, February 15, 2016: Maveric Systems-a leading Technology Assurance partner to Banking leaders, today announced the appointments of three new Vice Presidents, thereby strengthening its Core Leadership team. Venkataraghavan Seshadri, formerly with Tesco, has been appointed as Vice President, Technology-led Services. Karthikeyan Malayappan, previously with Intellect Design Arena, has joined Maveric as Vice President, Retail Banking. Kishan Sundar, previously with Tesco, has joined Maveric as Vice President, Digital Assurance.
Since October 2012, Maveric has been a significant technology lifecycle assurance provider for leading banking and financial services clients across the globe with integrated requirements to release offerings.
These appointments come at a time when Maveric is further strengthening its position as an ‘end-to-end technology assurance partner’ by enhancing its banking domain expertise with sub-domain specialization in retail and corporate banking, wealth management, AML, investment banking and payments. Furthermore, the company aims to combine its expertise in domain & product-centric asset creation with technology expertise in API & Middleware, Service Virtualization, Automation enabling Agile Development and Data Quality to provide integrated & contextual assurance offerings.
With this strategic move, Maveric aims to become one of the top three global technology assurance players in the market. As of FY15, Maveric stands at $29 million with a CAGR of 30% over the past 2 years. The revenue forecast stands at over $60 million in the next four years, at a CAGR of 20%.
The Global Assurance market is estimated to reach about USD 50 billion by 2020. Contributing to this growth is the Financial Services sector, which as one of the biggest customers of the QA and Testing industry has increased its QA and testing spending by over 11% in 20152.
Commenting on the appointments, Ranga Reddy, Co-founder and CEO, Maveric Systems said, “We are amidst a transformation process to becoming a super-specialist with deeper domain & technology expertise. These three appointments are strategic in nature and will further strengthen our business focus for the coming years and give us a competitive edge.”
Karthikeyan Malayappan brings over 22 years of rich experience across banking, technology consulting and business analysis working with organizations like HSBC, Oracle and Wipro. He will be leading the Retail Banking, Corporate Banking and Capital Markets business lines within the Requirements Assurance Programme Assurance (RAPA) practice. Additionally, he will work closely with all client facing teams to convert new opportunities and will lead asset creation for the requirement assurance practice across all domains in Banking.
Venkataraghavan Seshadri has over two decades of experience in Testing Services including Specialized testing services like Performance Testing, SOA testing and Data warehouse testing among others. In his new role at Maveric, he will be looking to create new technology-led offerings, ensure smooth delivery of commitments made to clients, and provide the right inputs to convert deals in the pipeline related to the above areas. In addition, he will provide leadership to the technology-centric teams, namely Automation, Service Virtualisation, Data, Performance, Agile, API, Middleware, and Environment Management.
With over 18 years of experience in the BFSI and retail sectors with specific focus on end-to-end delivery and managed test services, Kishan Sundar will take on the responsibility for the Digital offerings at Maveric. He will spearhead digital design thinking, strategize customer experience testing frameworks and manage Maveric’s CONTINUOUS ASSURANCE solution for our Partners on mobile and digital applications by using Maveric’s Proprietary Framework and Test OPS, as well as head Maveric’s Digital Centre of Excellence.