Tagit Appoints New CEO, Gears Up For Rapid Expansion

Online, October 1, 2012 (Newswire.com) - Tagit, an award-winning Singapore-based mobile solutions company with a leading mobile banking and commerce platform, today announced the appointment of a new Chief Executive Officer, Mr. Sandeep Bagaria, who assumes the role from Company Co-Founder and former CEO, Mr. Navtej Singh ("Naffi") to lead the company into its next phase of growth and innovation.

As the new CEO of Tagit, Mr. Bagaria will be responsible in driving the company's expansion into new markets and continued innovation of the company's products and core solutions. Tagit's new CEO appointment supports the company's thrust to strengthen leadership team as the company scales up its operations in key growth markets in Asia, Middle East and North America.

Speaking on the appointment of Mr. Bagaria as the new CEO, Mr. Pierre Hennes, Executive Chairman of Tagit said, "The appointment of a new CEO marks a new era for Tagit. The company has come a long way since 2007 and has become the leading innovator in mobile banking today. Tagit's pioneer leadership team has done an excellent job at laying the foundation for Tagit's long-term success. Building on its strengths, expanded client and product portfolio as well as increased presence in key markets, Tagit is well positioned to address growing demand in the global mobile banking and services solutions space," added Mr. Hennes.

A recent IDC Financial Insights report reveals that the global mobile banking industry is poised for growth with more banks preparing themselves today for the imminent wave of mobile adoption. In Asia Pacific, more retail banks are exploring the mobile channel to maintain competitive advantage. With rising demand for mobile services in North America and the Middle East, adoption of mobile commerce in these markets is also expected to grow. "This presents a tremendous growth opportunity for Tagit as the company breaks into new frontiers and enters new markets across the globe. With Sandeep's leadership experience and expertise in the areas of financial and technological solutions, I am confident that the company is on the right path towards sustainability and growth as a trailblazer and innovator in the mobile banking sector," continued Mr. Hennes.

Mr. Sandeep Bagaria, a seasoned corporate entrepreneur, brings over 18 years of experience in setting up and managing businesses in sectors which include Banking, Financial Services and Insurance (BFSI), telecommunications and commercial enterprise. Prior to joining Tagit, Mr. Bagaria was the head of the Ambit Core Banking and Ambit Card Management business units at SunGard, a leading Fortune 500 software and technology services companies.

"I am excited to take on this role as the new Chief Executive of the company and join Tagit's leadership team. Tagit has had stellar achievements and is supporting the leading banks in the region and abroad with their mobile strategy with its Mobeix platform. I look forward to working with the team to accelerate its growth momentum and bring this leading Asian company to new heights in the global arena," said Mr. Bagaria.

Former CEO of Tagit, who is also one of the company's Co-Founders, Mr. Navtej Singh ("Naffi") will be assuming the role of President and Head of Business Development to drive strategic business development initiatives for the company.

"We are very happy to welcome Sandeep to the team. I am confident that under his leadership, the company will continue to shine and reach greater heights as we move forward into the next stage of growth for the company" said Mr. Singh.

Tagit was co-founded in 2005 by Mr. Navtej Singh and his business partner, Mr. Shankar Narayanan and were later joined by the current Chief Technology Officer, Mr. Parikshit Paspulati. The company owns a proprietary mobile middleware platform, Mobeix, which allows enterprises such as banks and financial institutions and payment switch networks to render their online services via mobile. With a growing client portfolio globally, the company is now present in 10 countries across Asia, Middle-East, and North America. Some of their customers include leading banks such as DBS, UOB, POSB Bank, Standard Chartered and Maybank in Asia, Movenbank and Royal Bank of Canada in North America, and payment switch operators such as KNET in Kuwait and SmartLink in Vietnam.