The IQ Business Group expects its newly launched venture, Financial IQ, to generate between R80 million and R100 million in turnover in its first year of operation.
Financial IQ, established in partnership with Fedsure Financial Services Group, is expected to show a further R150 million to R200 million in its second year, which, according to the new venture`s MD, Les Horne, makes it the biggest South African solutions provider exclusively focused on financial services.
"Our mission statement is to become the preferred supplier of technology-enabled business solutions to the local and international financial services industry," he adds.
Speaking at a function held in the new JSE building in Sandton, IQ Business Group MD Johan Roets said Financial IQ is focused on three industry sectors: investments, insurance and banking.
Roets says the inception of Financial IQ reflects the already successful partnership between IQ`s health division and Fedsure Health Technologies, the former IT arm of the Fedsure Health Group which began outsourcing its IT to IQ Health as part of the deal.
Horne says the new company has raised significant interest overseas, particularly in Australia, where a joint venture with an Australian company will be launched on Friday.
Among Financial IQ`s clients are the Fedsure Group - including Fedsure`s operations in the UK and a subsidiary in Dublin, Eire - and Investec Bank.
"We are actually surprised that such a young company has been so favourably received so quickly. We are already well geared to exploit the immense international opportunities opening up to us," he says.
He adds that the company also has ambitions for the US market.
"It`s a bit early now, and we will be consolidating first, but there is no limitation to our international opportunities."
He adds that thanks to the partnership with Fedsure, the company may be two months old, but it has 15 years` experience in its market.
Horne believes the company will succeed because "the value we bring is not just a technology solution. We provide a complete solution based on a business` specific needs."
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