• BFSI IT Market in India is growing at a CAGR of over 10 percent under the influence of upsurge in transactions through ATMs, and penetration of internet and mobile banking. As per a KPMG-CII report, the banking industry in India is well poised to become the fifth largest banking industry in the world by 2020 and third largest by 2025.    Realizing the role of IT in this growth, banks are increasingly spending on modern IT solutions. While large financial institutions are going beyond core banking applications to mobility/electronic payment solutions and business-focused solutions, small and medium organizations in the sector are increasing investments in core banking solutions and showing increased interest in cloud computing. Demand for better personal banking, and high cell phone penetration in the country are creating a platform for mobile banking services. However, despite the overall strong market growth in the industry, there are still some serious challenges. Cyber security does seem to be the buzz word of the hour, but it is a big concern for any organization looking to adopt new technology. In addition, the financial sector in India is witnessing the introduction of a number of new regulatory frameworks, which have increased the need for enhanced compliance functions among organizations in the BFSI sector. IT vendors are playing a key role in the evolution of banking sector through efficient and innovative technology solutions. However, there is a need to select the most suitable BFSI solution provider. CIOReview presents to you the ’20 Most Promising BFSI Software Companies’ in India. A distinguished panel comprising of CEOs, CIOs, VCs, IT innovators along with CIOReview’s editorial board has decided on the top 10 names.