Archive: June 3, 2022

Business

ToneTag emerges as a winner in two categories in Reserve Bank of India’s First Global Hackathon HARBINGER 2021

Jun 3, 2022 by Agency 0 Comments #Global Hackathon HARBINGER 2021, #Reserve Bank of India, #ToneTag

ToneTag, India’s fastest-growing voice-based commerce and payments solution provider successfully participated and won in two categories in RBI’s first global hackathon,“HARBINGER 2021 – Innovation for Transformation”. The Bangalore-based company uses audio technology to enable voice-based communication and payment services, has aced two categories – Non-mobile Digital Payment Solutions and Context-based Retail Payment Solutions. The event registered participation from 363organisations globally with only 24 making it to the final round.

 

As India witnessed significant growth in terms of digital payments, the aim of the first-ever global hackathon by RBI was to discover and support the business models that have the potential to make digital payments accessible to the underserved, improving payment convenience and enriching user experience while enhancing security.

 

The winners in each category were selected on the basis of problem comprehension, inventiveness, solution comprehensiveness, ease of implementation, demonstration/user experience etc. ToneTag won in two categories, namely:

  • Non-Mobile Digital Payment Solutions – ToneTag’s Plug & Play acoustics omnichannel solution provides a faster and autonomous payment and checkout experience to businesses and customers alike with its ground wreaking audio and voice technology. This solution enables customers to make secure and reliable peer-to-peer (P2P) or peer-to-merchant (P2M) payments on any mobile device using their voice in any language and dialect. It generates an identification code that is unique to the customer’s voice which is then used for authenticating payments.
  • Context-Based Retail Payment Solutions – ToneTag’s Plug& Play Zone is engineered to create a virtual area or ‘Sound Zone’ inside a store that can be detected by the customer’s mobile phone. The hardware-agnostic audio and voice technology enables sound based proximity engagements and payments that are contactless, frictionless and secure. The customer can simply use their voice to select products, find their location in the store and pay the bill without having to physically interact with any store staff or cashiers. The module operates on tokenised data followed by audio encryption frameworks that allow for a completely secure transaction process.

 

Participating in HARBINGER 2021 provided participants with the opportunity to be mentored by industry experts, present their unique solutions to a prominent panel, and earn big rewards in each category. The hackathon was designed as a competitive event in which participants submit ideas, construct solutions, and present prototypes, and the solutions are reviewed by a panel to determine the winner(s).

 

Sharing his excitement on the win, Kumar Abhishek, Founder & CEO of ToneTag, said, “A hackathon by a regulator at this scale is unheard of globally. This shows why RBI is not just leading, but setting example of progressive inclusion for every other regulator.

Being felicitated in two categories at RBI’s first-ever global hackathon is a big motivation towards our vision for financial accessibility at ToneTag. We look forward to providing customers with a highly differentiated offline shopping experience and payments solution that is engaging, convenient and faster, all with the power of their voice and in a language they are comfortable with. Online or offline now checkout with voice”.

Business

Unocoin Undergoes Complete Rebranding in Bid to Drive Demographic Expansion

Jun 3, 2022 by Rekha Nair 0 Comments

New Delhi, India, June 2022: Unocoin, India’s first entrant into the crypto space, announced a new brand identity that underscores its commitment to the Indian crypto market. The app was always available in English and Hindi. The latest development ushers a refreshed approach to the scope of crypto assets in tier two and tier three regions. It is now available in six new languages, Bengali and Marathi & including four south Indian languages Kannada, Tamil, Telugu and Malayalam. With the refreshed makeover of the website, a new iOS application, a more appealing brand logo and the new tagline – Unocoin ‘Crypto Ka Super App’, the users will experience an engaging digitized outlook and many new features. Not just this, with the listing of new coins, users can now trade more than 80 coins on the platform. Is that all? No! Unocoin has also introduced the new KYC (Know Your Customer) process that lets users buy their first crypto in just two hours, using the Virtual Bank Deposits.

Unocoin – Crypto Ka Super App, provides security, usability & functionality, which are the most critical factors of a crypto app. Now with this leap, even new entrants will be able to experience a plethora of features ranging from more than eighty different kinds of crypto coins, deposits via Virtual Bank Deposit in the Indian currency for a faster top-up to buy and sell Bitcoin and other crypto assets on the platform and much more.

Commenting on the new development, Mr Sathvik Vishwanath, CEO & Co-Founder, said, “We started eight years ago to revolutionize crypto trading in India by making the entire experience more user-centric. We are glad that with this newly revealed brand identity, Unocoin – Crypto Ka Super App will keep up the vision of becoming the first Made in India, Made for Indians and Made by Indians Crypto Trading and Exchange Platform to go vernacular and cater to its regional community members”.

“We processed transactions worth more than ₹2 billion per month for more than nineteen lakh customers and now aim to acquire a majority share of users across the nation. We want to extend heartfelt gratitude to the existing users and stakeholders for their unwavering support over the years”.

What’s more? Unocoin gifts its new user INR 100 worth of bitcoin as a welcome bonus for every new user signup. Its existing customers can shake their phones and earn free Satoshis every 24 hours.

Business

Indian used vehicle sales gains momentum: Droom reports

Jun 3, 2022 by Agency 0 Comments #Droom, #Indian used vehicle, #Sales

Droom, India’s pioneering automobile e-commerce platform today revealed that the company has witnessed a CAGR of 44% between 2019 & 2021 and has showcased a steep growth of 58% in 2022 (YTD) owing to the increase in used vehicle adoption during the pandemic.

The Indian online used vehicle market was valued at INR 154 billion in FY21 and is projected to reach INR 1,994 billion by FY26, registering a CAGR of 66.9%. Used automobile markets online penetration is expected to be close to 10% by FY26 which is at approximately 2% currently. This projection is the outcome of the shift in customers’ preference towards buying of used vehicle online, preference of personal mobility override sharing, unwarranted physical dealership, and availability of multiple price options in used vehicles. Moreover, due to the uncertain economic environment post-COVID-19, used vehicles are witnessing even stronger demand.

In its latest report, droom also revealed that the used car market is one of the best performing categories in the automobile industry. Few of the key factors that are driving the growth of India’s fast-evolving used vehicles market includes migration from BS4 to BS6 which resulted in hike of new vehicles prices, semiconductor chip shortage and lack of clarity on EV infrastructure.

Speaking on the report, Sandeep Aggarwal, Founder and CEO, droom, said, “The used vehicles market is topping all charts and is now one of the hottest categories in the current times. While Droom has always been on a growth journey, it is still surprising to see this market flourishing at an unprecedented pace. Pandemic turned out as a blessing in disguise for the used vehicle industry and has shifted consumers preferences towards used vehicles vs new vehicles. We expect this growth to continue in the upcoming months and hope that more and more consumers will make the most of this fast-growing market.” 

Droom has been offering a wide range of 15+ automobile categories starting from bicycles to planes to commercial vehicles to earth moving vehicle to EVs and many more on its platform. Droom has 300K+ on time supply of automobile on its platform coming from 1150+ cities across India.

Business

India to see largest increase in energy demand worldwide over the next 20 years, says Infomerics

Jun 3, 2022 by Rekha Nair 0 Comments

New Delhi, June 2022: India faces the twin dilemma of co‐existence of shortage and abundance in several parts of its energy system. While the provision of electricity has increased significantly over the years, weak institutions and utility governance hamper the power sector’s financial performance with issues of accountability, operational efficiency, customer service, and transmission to state-level transmission institutions. The sector takes a huge and grossly unacceptable hit due to extensive losses, leakages and pilferages, and the cost recovery from tariffs.

These are some major findings of a report titled Power Sector in India: New Emerging Opportunities and Challenges released by Infomerics Valuation and Rating Pvt Ltd., the well-known SEBI-registered and RBI-accredited financial services credit rating company.

The report explores the opportunities and challenges ahead for India as it seeks to ensure reliable, affordable and sustainable energy for a growing population.

During FY20 and FY19, the growth of electricity generation was lower than in the previous financial years because of the impact of COVID-19. The report quotes the International Energy Agency (IEA) stating that during FY21 recovery in electricity demand from the COVID-19 pandemic was faster and stronger in India than in EU countries.

India is the third-largest producer and the third-largest consumer of electricity in the world. With the increasing population, electricity demand is rising at a fast clip and India has improved its power generation capacity over the years. India has added more than 500 billion units until FY22 from FY10. The power generation capacity rose from 808.498 billion units (BU) in 2009-10 to 1,381.827 BU in 2019-20.

The power sector in India has 395 GW (Giga Watt) installed generation capacity, 203 GW peak power requirement, 11 per cent installed capacity CAGR (2011-2020) and 67 per cent required hydropower capacity. The private sector with 48.50 per cent has the largest installed generation capacity followed by the Central sector (24.90 per cent) and the State sector (26.70 per cent). Fossil fuel has still higher installation, generating 2,35,929 Mega Watt (MW) of electricity, constituting nearly 60 per cent of the total installed generation capacity.

The report takes note of the current power crisis caused by the paucity of coal. It states that the continued heatwave has led to a rapid rise in the energy demand in states such as Punjab, Uttar Pradesh, Maharashtra, Haryana, and Andhra Pradesh. The northern states are witnessing power cuts amid low coal stocks. Over 150 thermal power plants have a coal shortage problem and the coal stock position of 173 powers plant stood at the sub-optimal level of 21.93 million tonnes (MT), which is less than the regulatory requirement of 66.32 MT as of April 21, 2022. But the power demand rose rapidly from 106.6 BU in 2019 to 124.2 BU in 2021 and further to 132 BU in 2022.

The electricity demand far outstripping the supply despite Coal India recording coal production of 622 million tonnes in FY 22 vis-à-vis 607 million tonnes in FY 21. India’s current daily power deficit rose sharply from the average of 0.3 per cent to 1 per cent with the dreaded possibility of rising even further. Given the paucity of options, most States, including Punjab, Tamil Nadu, Andhra Pradesh, Telangana, Odisha and Bihar, were forced to resort to power cuts, ranging from two hours to eight hours to meet the widening demand-supply chasm.

The gravity of the situation, the Infomerics study says, is starkly reflected in the Central Electricity Authority’s (CEA’s) report on coal stock on May 5, 2022. This Report underscored that out of 173 thermal power plants, 107 plants had a critically low stock of coal. Should this scenario of severe coal-stock shortages persist, the possibility of stagflation in India in the not-too-distant future cannot be ruled out.

The Infomerics report states that India is the third‐largest global emitter of CO2, despite low per capita CO2 emissions. The carbon intensity of its power sector exceeds the global average. Further, particulate matter emissions are a major contributor to air pollution, which has emerged as one of India’s most sensitive social and environmental issues. This is going to be a big challenge for the policymakers making it necessary to shift their focus to the most efficient and sustainable energy sources. Strategic measures include improving the efficiency of supply and consumption of energy, expanding the proportion of natural gas, and hydropower in the fuel mix, and reducing energy intensity in the transport sector.

Natural gas and modern renewable sources of energy have become increasingly important and were least affected by the effects of the Covid‐19 pandemic in 2020. The rise of solar PV has been spectacular; the resource potential is huge, and policy support and technology cost reductions have quickly made it the cheapest option for new power generation.

India is purposefully moving towards the achievement of the goal set by the Intergovernmental Panel on Climate Change (IPCC). The report states that India’s non-fossil fuel-based capacity met the 40 per cent target under its nationally determined contribution (NDC) at COP 21. Solar energy capacity is up from 2.63 GW to 49 GW in the last 7 years.

The report states that India needs a much higher storage capacity for Discoms. But there has to be undivided attention on the pursuit of large-scale grid storage to achieve the avowed objective of creating 500 GW of non-fossil fuel capacity, including 450 GW of renewable energy sources. This is not easy, but certainly doable, it states.

Entertainment

IZZHAAR at the Press Conference of 22nd Edition of International Indian Film Academy Awards 2022 (IIFA)

Jun 3, 2022 by Agency 0 Comments #IIFA, #IZZHAAR

Izzhaar has been an expression of joy and celebrations for the last 8 years. It is merely a pleasure for Izzhaar to be a part of the process of bringing one’s vision into existence. Izzhaar’s design and artisan team is professionally qualified to turn such fancies into actuality, and they’re putting their maximum efforts to create the whole thematic concept of the event venue, Abu Dhabi, blended just perfectly into the IIFA invitation boxes.


Studying the cultural details, historical architecture, the skyscrapers, the art & craft, has made it possible for Izzhaar to finally come to the result to make it look super opulent and majestic. Working on the designs, and delivering it in a short span of time is no less than a challenge, but accomplishing it every time is what motivates Izzhaar to do even better. To make the event invitation thematic and just appropriate for complementing the event location, Izzhaar has incorporated the glimpse of skyscrapers of Abu Dhabi to emphasize this bustling city of UAE.

Education

Techno India Group Admission Alert For The Academic Year 2022

Jun 3, 2022 by Rekha Nair 0 Comments

– The Last Date Of Application Will Be 31st July, 2022 –

Kolkata, June, 2022: Techno India Group, the largest private education group in Eastern India, announced the commencement of their admission session for 2022. Desired candidates can apply for Engineering, Science, Management, Architecture, Humanities, Filmmaking, Paramedics, Law, Computer Application, Design & Commerce.

Engineering (Three years Diploma in Engineering & 6 years B. Tech (After Class X), B.Tech, B.Tech (Lat), M.Tech, Ph.D).

The subjects are as follows: Computer Science & Business Sys.(CSBS) in collaboration with TCS, Computer Science & Engineering (CSE), Computer Science and Engineering Cyber Security (CES-CS), Computer Science & Engineering-Artificial intelligence (CSE-AI), Computer Science & Engineering-Data Science, Computer Science & Technology (CST), Bio Technology (BT), Civil Engineering (CE), Electrical Engineering (EE), Electronics & Comm. Engineering (ECE), Electronics & Inst. Engineering (EIE), Food Technology (FT), Mechanical Engineering(ME) Information Technology (IT) & Agriculture.

Science (B.Sc(H) Dual B.Sc – M.Sc, M.Sc, Dual M.Sc – Ph.D & Ph.D)

The subjects are as follows: Bio-Technology, Computer & Data Science, Cyber Security, Cloud Technology, Earth Science, Information Technology, Mathematics, Microbiology, Zoology, Oceanography, Chemistry, Economics, Agriculture, Environmental Science, Physics, Media Science, Psychology, Applied Geology & Data Science.

Management BBA(H), Dual BBA-MBA,BHM(H), MBA, MHA & Ph.D The subjects are as follows: Finance, Human Resource, MBA in Family Business, Hospital Management, Marketing & Entrepreneurship, BHHA, Bachelor of Hospitality and Hotel Administration.

Architecture (B. Arch, M. Arch, PhD) Admission through JEE Main 2 or NATA or TNJEE.

Humanities (B.A (H),Dual B.A-M.A, M.A, PhD) in English and Women Studies.

Film Making

BFA in Digital Film Making & VFX Nursing, GNM, B.Sc, Post Basic B.Sc Nursing. Approved by INC & WBNC.

Paramedical College

BMLT (with support of TIG Hospitals).

Law

BBA(H) + LLB,BA(H)+LLB,3 Years LLB (After Graduation).

Computer Application

BCA(H), Dual BCA-MCA & MCA (2years)

Design (B.Des – 4 Years Bachelor Degree) & B.Sc (H) – Design The subjects are as follows: Game Art & Design, Fashion Design, Fine Arts, Interior Design, Visual communication & Digital Design.

Commerce (B.Com(H) & M.Com)

Physical Reporting & Admission Centre (For All Colleges & University)

Kolkata Centers: Techno India Group, (A) Chingrihata, Near Leather Technology Campus (B) EM 4, Sec-V, Saltlake, 2nd Floor, (C) International huge residential campus: Bishnupur, Joka (D) Techno India Group Employability Lab: on EM Bypass, Opposite of Trinamool Bhawan (E) Techno India College Hooghly: Near Khadina More (F) Behala Balananda Campus:151&153 Diamond Harbor Road (G) Chatterjee International, 9th Floor, 33A Chowringhee Road, Kolkata – 700071.

Business

NMIMS Launches Specialised MBA in Healthcare Management

Jun 3, 2022 by Agency 0 Comments #Healthcare Management, #NMIMS, #Specialised MBA

NarseeMonjee Institute of Management Studies (NMIMS), a Deemed-to-be University with an academic legacy of 41 years, announces the launch of MBA in Healthcare Management program at the Mumbai campus. The multidisciplinary programme is designed for training future healthcare executives for management and leadership positions in healthcare systems and organisations with the goal of delivering high-quality health care across all sectors. The curriculum aims to give a thorough dive into the healthcare industry with a worldwide emphasis, finding trends and difficulties across providers.

The 2 year program focuses on healthcare systems in emerging economies (particularly India) and will be particularly beneficial to young graduates interested in managerial and leadership positions in hospitals and health systems, health insurance industry, health policy and consulting firms, and healthcare entrepreneurship.
The curriculum is divided into six 12-week trimesters, with five trimesters of classroom study and one trimester of practical residency (internship) with healthcare organisations to train the participants with strategic problem-solving and innovation principles, to improve the quality, cost-effectiveness, and integration of health and health-care organisations and systems by developing business acumen, leadership potential, as well as analytical, technical, and management skills.

Eligibility Criteria:

Candidates should have a graduation in Medicine or allied discipline such as MBBS, BDS, BHMS, BAMS, Pharmacy, Life Sciences, Medical Technology, Biotechnology, Bio-Medical, Food Nutrition and Dietetics, Pharmaceutical Chemistry and Technology, Pharmaceutical and Fine Chemicals Technology, Microbiology, Bioengineering or graduation under any stream with minimum 2 years of healthcare sector experience.

Participants can apply through online registration at nmims.edu with a Registration Fee of Rs. 2,500/-

On this announcement, Dr. Prashant Mishra, Dean SBM, said,The phrase ‘healthcare industry’ has now expanded well beyond the realm of hospitals, incorporating various industries that supply goods and services important to curative, preventative, palliative, and rehabilitative care. Furthermore, as part of the healthcare business, the aggregate includes not just hospitals, clinical trials, medical devices, and equipment, but also telemedicine, health insurance, and medical tourism. With such a vast sector and reach, the Indian healthcare business is quickly establishing itself as a world leader in terms of the facilities and services it provides. This steady expansion of the sector creates a lot of job possibilities, both in the medical and non-medical fields of education. Our comprehensive course structure equips the participants with holistic development and prepares them for the future that lies ahead.”

Adding on to the announcement, Dr. Neha Sadhotra, Chairperson – MBA in Healthcare Management said, “Our goal is to enable the participants with industry-led healthcare education as well as the tools, platforms, and opportunities they need for an ecosystem of continuous learning to be future-ready leaders. The curriculum provides solid principles of healthcare entrepreneurship and a unified framework for creating and managing a patient-centric company, as well as the capacity to design and manage a successful healthcare delivery system. Over the next two years, the emphasis will be on providing participants with the necessary skills and knowledge to deal with digital disruption and to prepare them to deal with healthcare cost, quality, and access issues. We will teach participants how to use cutting-edge technology and analytical tools, as well as how to establish an entrepreneurial mindset, in order to have a successful journey.”

Business

FPSB meets CFPs in Delhi

Jun 3, 2022 by Rekha Nair 0 Comments

The total number of CFPs in India grew 17.6% in 2021 to reach 2,338 professionals. Mr. Noel Maye, CEO, FPSB, expects this number to rise to over 3000 CFPs by 2024 end and to 10,000 over the next five years.

Though India stands currently at sixth position in terms of the number of CFPs, Mr. Noel Maye, CEO, FPSB expects it to emerge as the market with the third highest in terms of the number of CFPs due to the exponential growth that FPSB anticipates here. As of 2021 end, there were more than 2 lakh CFPs globally. US-based Financial Planning Standards Board Ltd (FPSB) has set an ambitious target to create around 10,000 Certified Financial Planners (CFPs) in India over next five years.

Any graduate with a minimum of three years’ experience in financial matters is eligible to take up this 18-month CFP certification programme, and there is no upper age limit. The candidates, who don’t have working experience, need to go for another 18-month paid internship after the course to get the certificate. This year, the fee is fixed at around Rs 90,000 that can be paid in instalments.

FPSB will work with our stakeholders in India to prepare new entrants to the profession and to deepen connections among practitioners, employers, associations, regulators and government to promote and support the emergence of financial planning in India as a valued and respected profession, with CFP certification its symbol of excellence.

Mr. Noel Maye, CEO, FPSB Ltd has met with candidates for FPSB’s specialist and CFP certifications, CERTIFIED FINANCIAL PLANNER professionals, training institutes and firm leaders across key cities of India, including Delhi. The objective of Mr. Maye’s trip to India is to engage the Indian CFP professional community, and its stakeholders, to discuss the development and growth of CFP certification globally and in India over the year 2021, provide on overview of FPSB’s priorities in India in the medium term, strengthening pipeline management and operational infrastructure, and discuss plans to improve practice competency through Mentorship program and practical training in Financial Plan construction. The other objectives include community engagement, professional outreach and public awareness by suitably embracing technology and social media. Also, the focus is to explore alternative pathway for professional competency and experience validation, upgrading practice standards and espousing regulatory and education framework in India and globally.

Update on the growth of Financial Planners in India 

Number of CERTIFIED FINANCIAL PLANNERCM Professionals in India Increased By 17% Over Previous Year

The CFP professional growth story in India is part of a growing global movement, where last year saw the number of CFP professionals around the world reach an all-time high of 203,312.

“Despite the COVID-19 pandemic, momentum in the growth of CFP professionals in India is strong and increasing, consistent with global trends for the CFP certification program,” said Noel Maye, CEO of FPSB Ltd. “India’s rate of growth of CFP professionals placed it in the top three globally, after Brazil and Indonesia with growth rates of 36% and 22%, respectively. And India’s net increase of 349 CFP professionals ranks it in the top seven growth territories globally. FPSB Ltd. is deeply grateful to our supporters in India, including our education providers, and to all CFP professionals in India who commit to rigorous standards and to putting their clients’ interests first.”

“While the CFP certification program in India last year was a success story, with less than 2,400 CFP professionals, the potential for growth in the country is enormous,” added Maye. “India has a massive population of young, educated people looking to establish themselves in rewarding careers and to demonstrate their capabilities against a global standard. FPSB Ltd. will work with our stakeholders in India to prepare new entrants to the profession and to deepen connections among practitioners, employers, associations, regulators and government to promote and support the emergence of financial planning in India as a valued and respected profession, with CFP certification its symbol of excellence.”

India vis-à-vis Top 7 markets in terms of no of CFPs:

Country / Market

No of CFPs in 2021

No of CFPs in 2020

US

92,055

88,726

China

26,800

23,579

Brazil

7,385

5,414

Japan

24,064

23,095

Canada

16,797

16,400

India

2,338

1,989

Indonesia

2,281

1,886

CFP Professionals in India:

Year

Numbers

2021

2,338

2020

1,989

2019

1,915

2018

1,513

Mr Noel Maye Achievements:

Maye has led the organization since it was established in December 2004. Under his leadership, FPSB and the FPSB Network has:

  • Grown the organization’s geographical reach from 17 territories to programs in 27 territories, with discussions ongoing in several other territories;
  • Doubled the number of CFP professionals worldwide from 89,690 (YE’04) to 203,312 (YE’21);
  • Increased the number of CFP professionals worldwide ten-fold since 1990, when CFP certification first went international, from 20,353 to 203,312;
  • Taken over direct administration of the CFP certification program in India (2019) and grown the number of CFP professionals to 2,338 (YE’21);
  • Updated the content and delivery of CFP certification education and exams in India with the creation of specialist certification programs – FPSB® Investment Planning Specialist, FPSB® Retirement and Tax Planning Specialist and FPSB® Risk and Estate Planning Specialist – and online education and exam platforms now catering to 2,000+ candidates;
  • Secured accreditation (2021) and re-accreditation (2022) of CFP certification by the National Institute of Securities Markets (NISM) to meet Securities and Exchange Board of India’s registration requirements for investment advisors;
  • Developed global competency, ethics and practice standards for financial planning and global certification requirements for CFP professionals, including creating the first Global Financial Planner Competency Profile;
    Published global position papers and practice guidance notes including: Regulation and Oversight of the Financial Planning Profession (2010); Fintech and the Future of Financial Planning (2016); Consumer Protection and Investment Advisor, Financial Advisor and Financial Planner Competency and Oversight in Europe (2018); and Advising Vulnerable Clients (2019);
  • Joined, in 2012, the International Organization of Securities Commissions (IOSCO) to represent the voice of the financial planning community during global regulatory policy discussions;
  • Joined, in 2015, the Organisation for Economic Co-operation and Development’s International Network on Financial Education to promote inclusion of financial planning in global financial literacy efforts;
  • Conducted global research and promoted findings on: firms’ perspectives on CFP certification and hiring CFP professionals (2012); consumer attitudes towards financial planning (2015); and the practice of financial planning and CFP professional’s views on the future of the profession (2016, 2021);
  • Launched, in 2017, World Financial Planning Day, in partnership with IOSCO’s World Investor Week, to promote the value of financial planning and working with CFP professionals to the global community; and
  • Submitted over a dozen responses on behalf of the public and global CFP professional community to consultations from IOSCO, OECD and the European Commission and European Supervisory Authorities on matters relating to regulation of financial advice, investor protection and financial literacy.
Technology

Tech Mahindra Partners with Avarn Security to provide Accelerated Digital Transformation

Jun 3, 2022 by Rekha Nair 0 Comments

New Delhi– June 2022: Tech Mahindra, a leading provider of digital transformation, consulting, and business re-engineering services and solutions, today announced that it has entered into a partnership with Avarn Security, a leading security group in Nordics region. Tech M will be an end-to-end IT services partner to Avarn’s technology driven operations & Digital transformation.

As Avarn embarks on a digital transformation journey, Tech Mahindra will transform their current operating models across Finance and Accounting (F&A), Human Resource Services (HR), and Information Technology (IT) to support and deliver a complete technology services revamp. The partnership will enable Avarn to deepen its focus on customer centricity and become a fully digital led enterprise. Through this partnership Tech Mahindra will onboard close to 100 new associates from Avarn which will further sharply increase Tech Mahindra’s native resource presence in Nordics and help establish a niche in the security industry. Tech Mahindra will invest in upskilling and reskilling of the new workforce to continue its commitment of being future-ready.

Mukul Dhyani, Senior Vice President and Business Head for Continental Europe at Tech Mahindra, said, “IT is playing an increasing and critical role in the business transformation of Nordic companies. Being a leading provider of digital transformation, Tech Mahindra has deep expertise in helping organisations across the globe in transforming their businesses to be more consumer-centric and digital. We are excited about this partnership and the opportunity it brings us to support Avarn in its digital transformation journey and reset the standards for the security industry. We will bring together capabilities, ecosystem, and skills that will shape new experiences for Avarn and its customers in Nordics at large. We also extend a warm welcome to our newest colleagues from Avarn to Tech Mahindra family. This win underlines our commitment in Nordics as we continue to invest in the region.”

For Tech Mahindra, this partnership is part of its long-term commitment to continue investing and strengthening the leadership in Nordics region.

Vidar Berg, Chief Executive Officer of Avarn Security Group said, “Technology and innovation are key enablers for our ongoing business transformation. Tech Mahindra is a global full-service provider with focus on innovation and transformation and in addition to their deep domain expertise will bring along an ecosystem of experts and market-leading services that will help us unleash the potential of emerging technology and drive business value.”

Tech Mahindra believes in DigitALL philosophy for comprehensive Business Transformation. Digital technologies catalyse the transformations – they humanize businesses by helping them think, sense, connect, communicate, secure, and act better than before. As part of NXT.NOW™ framework, which aims to enhance ‘Human Centric Experience’, Tech Mahindra focuses on investing in emerging technologies and solutions that enable digital transformation and meet the evolving needs of the customer.

Business

Eloelo raises $13 Mn Series A funding to build India’s largest Creator-led Live Social Video Platform

Jun 3, 2022 by Agency 0 Comments #Creator-led Live Social Video Platform, #Eloelo

India’s leading homegrown live video streaming platform, Eloelo today said that it has raised $13 million as a part of its Series A funding round co-led by KB Investments, Kalaari Capital along with existing investors, Water bridge Ventures & Lumikai Fund. Convivialité Ventures & Rocket Capital also participated in the round. This is the startup’s second successive round in less than a year, having collectively raised around $16 Million in funding so far.

The fund raised will be used to scale up the Tech, Product & Content teams along with fostering new partnerships with creators & helping them reach millions of users.

“Creators want to cultivate deep, authentic relationships with their fans & Eloelo lets them imagine completely new interactive live experiences to engage fans. We have been growing at 40% MoM with a vision to build the future of interactive entertainment. Our Series A fundraise demonstrates the belief our current & new investors have in what we are building and enables us to take bolder bets to shape the creator economy for Bharat”, said Saurabh Pandey, Co-founder & CEO of Eloelo.

Founded in August’20 by ex-Flipkart executives Saurabh Pandey and Akshay Dubey, Eloelo has quickly crossed over 3.5 Million Users & 40,000 Creators on its platform. The startup wants to build the future of creator-fan engagement where creators host live video rooms, build interactive communities & monetize directly from fans.

Vani Kola, Managing Director at Kalaari Capital said “There is an entire generation of first-time internet users who are now able to build a direct channel to their fans to sell their unique products and offerings. Deeper relationships will be built between creators and their fans, powered by the emergence of an entire ecosystem of tools and platforms that enable this shift. Eloelo is enabling these creators with the perfect blend of social games & interactivity with live streaming. We are super excited to partner with Saurabh and Akshay in this journey.”

As it plans to launch monetization at scale, Eloelo aims to bring in innovative means of live interactions which enables creators to monetize from their super fans. The startup is also exploring use cases of NFTs for its top creators.

“We remain very excited to back Saurabh, Akshay and the Eloelo team, who continue to push the boundaries of live, interactive, creator-led live streaming. Their product led thinking and deep user insights enables them to drive strong user engagement, retention and creator monetisation by innovatively leveraging the power of live “lean forward” formats of entertainment.“, Salone Sehgal, General Partner at Lumikai Fund, said in a statement.


Anjali Sosale, Partner at Water bridge Ventures, added, “Eloelo was a seed stage bet for us as part of Water bridge Fast Forward cohort in 2020. Really happy to double down & witness their growth. It is a one-of-a kind platform that intersects Social, Live Video & Gaming together. “

With many players entering live video streaming, what sets Eloelo apart is the wide-range of tools for creators to host live interactive experiences.  The startup says that it is designed to extend support to low-spec devices from tier-2,3,4 of India thus truly enabling the Creator middle class to shine.