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    Business Wire India

    Interactive Brokers Group, Inc. (NASDAQ:IBKR) has released its May IB Communiqué to inform clients worldwide about the latest enhancements to its Trader Workstation platform (TWS).


    Adaptive Algo Order Type - Price Improvement or Fast Fill? Now you can have both. Marketable orders generally result in a fast fill. Non-marketable orders may deliver a better price, but may take a long time to execute and may not even get filled. Enter the Adaptive Algo, the newest member of our growing IB Algo family. The Adaptive Algo aims to deliver the best of both worlds. By adapting to market conditions, it attempts to achieve the fastest fill at the best all-in price.


    Integration of External Accounts - PortfolioAnalyst is an easy-to-use online performance analysis and reporting tool. Now you can use PortfolioAnalyst to see the current performance of all of your financial accounts, including your investment, checking, savings, annuity, incentive plan and credit card accounts held at financial institutions outside of Interactive Brokers.


    Portfolio Builder - Portfolio Builder allows you to create and invest in custom-designed strategies and then track their performance in your existing portfolio.


    Bloomberg TV Added to TWS - Our robust, real-time Mosaic news panel just got better. We now offer a Bloomberg TV feed that brings you live, streaming news from one of the world's most trusted sources for financial news and market information.


    Apple Watch - It's never been easier to check your IB account activity. Now configurable as an Apple Watch Glance, you can check key account metrics such as Net Liquidation, Orders and Trades, Excess Liquidity and your Current Positions with a glance at your wrist.


    New Online API Documentation - Our new online API documentation hosted on GitHub is full of benefits for clients who want to use our API.


    Read the entire May IB Communiqué here.


    About Interactive Brokers Group, Inc.


    Interactive Brokers Group, Inc., together with its subsidiaries, is an automated global electronic broker that specializes in catering to financial professionals by offering state-of-the-art trading technology, superior execution capabilities, worldwide electronic access, and sophisticated risk management tools at exceptionally low costs. The brokerage trading platform utilizes the same innovative technology as the Company's market making business, which specializes in routing orders and executing and processing trades in securities, futures, foreign exchange instruments, bonds and funds on more than 100 electronic exchanges and trading venues around the world. As a market maker, we provide liquidity at these marketplaces and, as a broker, we provide professional traders and investors with electronic access to stocks, options, futures, forex, bonds and mutual funds from a single IB Universal Account™. Employing proprietary software on a global communications network, Interactive Brokers is continuously integrating its software with a growing number of exchanges and trading venues into one automatically functioning, computerized platform that requires minimal human intervention.





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    Business Wire India 

    • Join the conversation & fun on twitter with @Bajaj_Finserv using #50For4 starting 8:50 am, May 29th Sunday
    • Announced limited period offer to buy 50 inch branded LED TV in 4 easy EMIs valid till 31st May

    Bajaj Finserv, the undisputed leader in consumer durable finance, beckons the cricket lover in you to join them on twitter while you cheer for your favorite team in the IPL finale this Sunday. Exclusively for their twitter audience, Bajaj Finserv is hosting a full day of cricket trivia and clever wordplay giving the community a chance to win a brand new 50 inch Branded LED TV. Crafted to drive engaging twitter conversations while the country anticipates the fate of IPL D-day, the campaign #50For4 will begin at 8:50 am, May 29th, Sunday.
    Continuing the tradition of bringing the best EMI schemes across industry, Bajaj Finserv also announced a limited period offer for buying a 50 inch branded LED TV in 4 easy EMIs. The ‘not-to-be-missed’ offer is also available till 31st May, giving Indian cricket fans the perfect opportunity to enjoy their favorite sport on the big screen in the comfort of their home.
    #50For4 will usher in the IPL excitement early in the day beginning at 8:50 am in the morning, continuing with a new tweet every 50th minute of each hour following that. During the same time period the contest details will be shared as tweets shared through our twitter handle @Bajaj_Finserv. The campaign will keep the Twitterati company the entire day with real-time conversations, upping the ante during the finale match between Royal Challengers Bangalore and Sunrisers Hyderabad.
    About Bajaj Finance Limited
    Bajaj Finance Limited, the lending and investment arm of Bajaj Finserv Ltd., is one of the most diversified NBFCs in the Indian market catering to more than 7 million customers across the country. Headquartered in Pune, the company’s product offering includes Consumer Durable Loans, Lifestyle Finance, Personal Loans, Loan against Property, Small Business Loans, Home loans, Two and Three wheeler Loans, Loan against Securities, Fixed Deposits and Rural Finance which includes Gold Loans and Vehicle refinancing Loans. Bajaj Finance Limited prides itself for holding the highest credit rating of FAAA/Stable for any NBFC in the country today.

    For more details, please log in to

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    Business Wire IndiaWNS (Holdings) Limited (NYSE: WNS), a leading provider of global Business Process Management (BPM) services, today announced that it has been positioned in the ‘Winner’s Circle’ in HfS Research’s Finance and Accounting As-a-Service Blueprint report 2016.
    “It’s an honor for WNS to be positioned in the ‘Winner’s Circle’ by HfS Research. This report highlights our core differentiators in BPM Finance and Accounting (F&A), which include deep domain expertise, embedded analytics, technology enabled solutions and a client-centric approach. WNS’ F&A function is equipped to meet today’s business challenges by digitizing the finance function, streamlining and simplifying processes, and establishing benchmarks for better governance and regulatory compliance,” said Keshav R. Murugesh, Group CEO, WNS.
    The HfS Blueprint Report: F&A As-a-Service 2016, identifies competitive differences between service providers under the categories of innovation and execution.  WNS’ outcome-based pricing approach and Outsourcing CFO framework coupled with aggressive sales approach and client-first mentality were highlighted as the key reasons for the company’s positioning in the ‘Winner’s Circle’. 
    WNS is one of the world’s leading global BPM service providers, with almost two decades of experience in the F&A domain. The company’s F&A practice has more than 8,000 dedicated professionals, servicing over 80 global clients in 20 different languages. WNS offers specific F&A solutions across key industry verticals including Banking & Finance, Insurance, Media, Retail CPG, Manufacturing, Shipping and Logistics, Telecom, Travel and Utilities. WNS manages critical F&A functions for its global clients including management accounting, budgeting & forecasting, financial analysis, decision support, tax & treasury, risk management, control and compliance. WNS leverages analytics, robotic process automation tools and technology-enabled proprietary platforms to deliver the most comprehensive F&A suite of services to its clients.
    About WNS

    WNS (Holdings) Limited (NYSE: WNS), is a leading global business process management company. WNS offers business value to 200+ global clients by combining operational excellence with deep domain expertise in key industry verticals including Travel, Insurance, Banking and Financial Services, Manufacturing, Retail and Consumer Packaged Goods, Shipping and Logistics, Healthcare and Utilities. WNS delivers an entire spectrum of business process management services such as finance and accounting, customer care, technology solutions, research and analytics and industry specific back office and front office processes. As of March 31, 2016, WNS had 32,388 professionals across 40 delivery centers worldwide including China, Costa Rica, India, Philippines, Poland, Romania, South Africa, Sri Lanka, United Kingdom and the United States. For more information, visit
    Safe Harbor Provision
    This document includes information which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events. Factors that could cause actual results to differ materially from those expressed or implied are discussed in our most recent Form 20-F and other filings with the Securities and Exchange Commission. WNS undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

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    Business Wire India
    FY2016 Results Highlights:

    • Max Life’s Operating Revenues: Rs 9,139 Cr., grew 13%
    • Max Life EV as at 31st  March 2016: Rs 5,617 Cr; Operating Return on EV: 17%
    • Max Life AUM as at 31st March 2016: Rs. 35,824 Cr., grew  15%
    Max Financial Services Ltd. (MFS), the first company listed following the demerger of the erstwhile Max India, today announced its financial results for FY2015-16. MFS, which is India’s only listed company providing undiluted access to the life insurance sector, reported strong performance, with consolidated operating revenues of Rs. 3,257 Cr. and consolidated Profit Before Tax (PBT) of Rs. 92 Cr. in Q4 FY2016.
    Over the past financial year, the Company reported consolidated operating revenues of Rs. 9,173 Cr., and a consolidated PBT of Rs. 465 Cr.
    MFS’ sole operating subsidiary Max Life Insurance performed well on all business parameters in FY2015-16, further strengthening its position as the best-in-class provider of long-term savings and protection products. Max Life reported operating revenues of Rs. 3,243 Cr. in Q4 FY2016, growing 20% over the same period last year. For the full financial year, Max Life’s operating revenues stood at Rs. 9,139 Cr., 13% higher than the previous year. During this period, the Company reported PBT of Rs. 511 Cr, growing 7% over the corresponding period last year.
    Max Life also announced its Embedded Value as at 31st March 2016 at Rs. 5,617 Cr., after allowing for a payout of Rs. 439 Cr. as shareholder dividend (including tax on dividend) in FY2016. This represents an Operating Return on EV (RoEV) for FY2016 of 17%. The Value of New Business (VNB) written during FY2016 was Rs. 388 Cr. with a Portfolio New Business Margin of 18.3% (before cost overruns) and 17.9 per cent (after cost overruns).
    The Company’s Assets Under Management (AUM) stood at Rs. 35,824 Cr. as at 31st March 2016, growing 15% over the same period last year.
    Commenting on MFS’ performance, Mr. Rahul Khosla, President, Max Group and Chairman, Max Life Insurance said, “Max Life Insurance has been on a steady growth trajectory over the past five years, establishing itself as the largest non-bank-owned private life insurer. With the demerger providing sharper focus to the business, Max Life is now in a position to deliver new avenues of growth, including through bancassurance and acquisition opportunities.”
    Mr. Mohit Talwar, Managing Director, Max Financial Services Ltd., added, “Max Life has ended an already stellar year at a high, delivering its highest ever sales in any quarter of Rs. 936 Cr. With the right vision, strategy and leadership, Max Life is well placed for another successful year.”
    In January 2016, the Max Group concluded a mega corporate restructuring wherein the erstwhile Max India was demerged into three separate entities, Max Financial Services, Max India and Max Ventures & Industries. The original company was renamed Max Financial Services and the ex-demerger stock of MFS started trading from 27th January 2016. The other two demerged entities, Max India and Max Ventures & Industries, will be listed on Indian stock exchanges in June 2016.
    About Max Group
    The Max Group is a leading Indian multi-business conglomerate with a commanding presence in the Life Insurance, Health & Allied businesses and packaging sectors. In FY 2016, the Group recorded consolidated revenues of Rs 14,237 Cr. It has a total customer base of 9 million, nearly 240 offices spread across India and people strength of 22,500 as on 31st March 2016.The Group’s investor base includes marquee global financial institutions such as Goldman Sachs, IFC Washington, Temasek, Fidelity and New York Life.
    The Max Group comprises three holding companies, namely Max Financial Services, Max India and Max Ventures & Industries.
    About Max Financial Services Limited
    Max Financial Services Limited (MFS), a part of the US$ 2 billion Max Group, is the parent company of Max Life, India’s largest non-bank, private life insurance company. MFS actively manages a 68 per cent stake in Max Life Insurance Company Limited, making it India’s first listed company focused exclusively on life insurance. Max Life is a joint venture with Mitsui Sumitomo Insurance (MSI), a Japan headquartered global leader in life insurance.

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    Business Wire India

    The next edition of the global event focusing on secure payment, identification and connection solutions will offer the best topic-focused conference sessions and an exclusive speaker line-up.


    This Smart News Release features multimedia. View the full release here:

    Tesla Motors, Google, Poynt, Worldpay, Santander Bank…an exclusive speaker line-up (Photo: Business  ...

    Tesla Motors, Google, Poynt, Worldpay, Santander Bank…an exclusive speaker line-up (Photo: Business Wire)

    The following executives will give a keynote speech:




    JB has been since 2005 the CTO of the world’s most innovative company, Tesla Motors (as named by FORBES magazine, 2015). At Tesla, JB manages the technical direction and engineering design of the Tesla products including battery technology, power electronics, motors, software, firmware and controls. He also has responsibility for new technology evaluation, R&D, technical diligence review of key vendors, and building partner relationships.


    ADRIAN LUDWIG, Director of Engineering, Lead Engineer, Android Security, GOOGLE


    Adrian is the Lead Engineer for Android Security at Google. In this role, he is responsible for the security of the Android platform and Google's applications and services for Android. Prior to joining Google, Adrian held technical leadership positions at Joyent, Adobe, Macromedia, @stake, and the Department of Defense. He has a BA in Mathematics from Williams College and an MBA from the University of California, Berkeley.




    Over the past decade, technology has transformed the way people shopped. It was time for commerce to catch up! Osama founded Poynt on the belief that payments should be more efficient, transparent and uncomplicated for both merchants and consumers. The Poynt Smart Terminal is moving the payments story forward to a place where every player in the ecosystem benefits.


    Throughout his career, Osama has helped shape the entire payments ecosystem. Prior to founding Poynt, Osama served as Vice President of Payments at Google, Head of Google Wallet and held various leadership roles at Paypal, eBay, Gateway Computers and AT&T Wireless.


    RON KALIFA, Vice Chairman and Executive Director, WORLDPAY


    Ron was appointed as vice chairman and executive director in 2013, having previously been chief executive officer of the organisation for over 10 years. Prior to this Ron held various executive roles within RBS and prior to that within NatWest. Ron is regarded as an expert in the card and payments industry and was recognised as “Industry Personality of the Year” at the 2011 Card & Payments Awards for his commitment and contribution to the field. While Ron has significant experience as a chief executive officer within the payments industry, he has also developed key strengths in mergers and acquisitions and strategy development. Ron is also a member of the Visa Europe board.




    Peter Jackson was CEO of the Travelex Group, where he led a major process to transform the company, focused on digital innovation and business re-engineering, and through mergers and acquisitions. Previously, he held senior positions at Lloyds and Halifax Bank of Scotland, and was a consultant at McKinsey & Company. Peter graduated in Engineering from the University of Cambridge.
    Santander bank created the corporate Innovation area, to research and anticipate market trends, and design business and customer solutions from a global, disruptive and long-term perspective. The innovation area includes Openbank, the Group´s online bank in Spain.


    CASPAR BERRY, Risk Taking and Decision Making, Poker player


    Caspar Berry was educated at the Royal Grammar School, Newcastle upon Tyne, before reading economics and then anthropology at Cambridge University.
    Caspar Berry is a motivational and keynote speaker specializing in the subjects of risk, decision making, innovation and leadership. He has previously worked as an actor, screenwriter for film and television, sports commentator, entrepreneur and professional poker player. Berry was the presenter and poker expert on a number of TV poker shows. He was an uncredited poker adviser on the 2006 James Bond movie Casino Royale, along with his credited Sky Poker co-host Dr Tom.


    About TRUSTECH (incorporating CARTES)


    The show was first held over thirty years ago under the name “Cartes Secure Connexions”, to promote the new-born technology of smartcards. Now it has been re-named “TRUSTECH (incorporating CARTES)”, a better reflection of the way the industry and the event have evolved, and of its focus on trust-based technologies


    The 2016 edition, to be held from 29 November to 1 Decembe, is expected to bring together more than 18,000 participants from 130 countries, 400 exhibitors and sponsors, and 250 speakers.


    Blockchain, Fintech, E-ID, E-Government, and Data Management to be the core themes of the event.


    More information at





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    Business Wire IndiaAngel Broking Pvt. Ltd., India’s leading broking and financial services firm launches “Trade in 1 Hour”. When broking companies have just started launching fast account opening features, Angel Broking has gone a step ahead and made Trading Account Activation the fastest in the industry. This initiative will facilitate customers to start trading within just an hour of their account opening.
    The company caters to close to a million clients across India through its online and nationwide physical presence across 130+ branches and more than 8000 sub-brokers network.  
    Commenting on the occasion, Mr Vinay Agrawal, CEO - Angel Broking Private Limited said, “We are carving a niche with constant focus on technology to enhance investing experience with speed, convenience and digitization. And now, with this launch, we are India’s fastest trading platform.”
    In line with Government of India’s ‘Digital India’ campaign, Angel Broking is dedicating its energies towards creating a healthy and effective tech-based ecosystem for Retail Investors. The firm has built up a robust pipeline of technological advancements not only at the customer interface front but also in the back-end processing. The firm’s previous launch - DKYC ensured that the latest technology percolates to the ground and reaches every door-step. And now, ‘Trade in 1 hour’, has minimized customers’ waiting time infusing speed in kick starting one’s investing journey. Angel Broking’s holistic tech-led approach and conscious efforts is set to digitally transform the broking and financial advisory industry.
    About Angel’s D-KYC
    D-KYC - first of its kind account opening experience through digital signature using bio-metric devices. Angel Broking has invested heavily in ensuring that technology goes to people and not the other way around. The company empowered its nationwide ground force of 1000 angels across 132 branches with high tech D-KYC devices – this D-KYC device which is a combination of a tablet, a STPQ approved Bio-metric device and homegrown E-KYC software all working in tandem for a hassle free, paperless and flawless account opening experience at the customer’s doorstep.
    About Angel Broking
    Angel Broking Pvt. Ltd., is today one of the leading Indian stock broking houses, with a focus on retail business and a commitment to provide “real value for money” to its clients. The Angel Broking Group is a member of the BSE, NSE and the country’s two leading commodity exchanges, the NCDEX and MCX. Angel Broking provides a wide range of personalized wealth-management and investment services to its retail clients. These include Stock and Commodity Trading, Portfolio Advisory and Management Services, Investment Advisory Services, Distribution of Mutual Funds, IPOs, Personal Loans and Insurance, as well as E-broking & Depository services – all supported by intensive research and a six sigma-backed Quality Assurance program. Angel Broking Group provides its value-added services to over 9 lakh individual retail investors through its nationwide network of 132 branches, including 17 regional hubs 8400+ registered sub-brokers/business associates and an all India employee strength of 3500+. Angel Broking has one of the largest trading terminal bases (16,308 terminals) in the country, and the largest sub-broker network on the NSE, clocking one of the largest volumes in the industry. The company’s shareholders include International Finance Corporation (IFC), the private investment arm of the World Bank.

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    Business Wire India

    Network International , the leading payment solutions provider in the Middle East and Africa (MEA) and OT (Oberthur Technologies), a leading global provider of embedded security software products and services, today announced their partnership to offer to banks in the MEA region OT’s dynamic cryptogram payment card to secure online transactions - OT MOTION CODE™ solution.


    This Smart News Release features multimedia. View the full release here:

    Network International selects OT’s MOTION CODE™ solution to secure online transactions in the Middle ...

    Network International selects OT’s MOTION CODE™ solution to secure online transactions in the Middle East & Africa. Picture from Cards & Payments Middle East trade show, with Frédéric Beylier, Chief Operating Officer at OT, Bhairav Trivedi, Chief Executive Officer at Network International, Eric Duforest, M-BU Managing Director Financial Services Institutions at OT and Muzaffar Khokhar, Regional President for Russia, Middle-East and Africa at OT (Photo: Business Wire)

    The OT MOTION CODE™ solution provides an extra layer of security for Card-Not-Present (CNP) transactions (ecommerce transactions via telephone or Internet for instance). The technology replaces the static 3-digit security code usually printed on the back of a card, by a mini screen that displays a code, which is automatically refreshed according to an algorithm, typically every hour.


    For the cardholder, the solution is fully transparent: no plug-in to install on their web browser, no button to press, the code appears at the same location on the card, the key benefit being the code’s dynamic generation and periodical refresh. The refresh timing is defined by the card issuer, for instance each hour. For issuers, a specific server synchronized with the algorithm and refreshing rules defined in the cards is needed and supported by OT’s offer.


    Today, millions of ecommerce transactions are processed by Network International every year. In order to help banks to increase trust in online transactions and reduce online fraud, Network International has added OT MOTION CODE™ solution to its fraud management products portfolio.


    E-Commerce adoption in the UAE is growing rapidly, and we have to offer security and convenience to end-users,” said Bhairav Trivedi, Chief Executive Officer of Network International. “As the first company to market this kind of technology in the world, OT in collaboration with Network International will offer banks with a turnkey solution to help them mitigate online fraud and also to provide their consumers with a reliable, secure and seamless online shopping experience in the Middle East and Africa region.


    We are delighted to partner with Network International to offer our OT MOTION CODE™ solution in the MEA region. Network International has a major reach in this region and we are convinced this solution could benefit millions of potential end-users. Online fraud is growing rapidly worldwide, and thanks to our revolutionary innovation, we provide this e-commerce fraud fighting solution to financial institutions to secure online transactions,” said Eric Duforest, Managing Director of the Financial Services Institutions business at OT.


    OT MOTION CODE™ solution will be showcased on OT’s booth (E20) during Cards &Payments Middle East in Dubai (May 31 – June 1)


    Established in 1994, Network International LLC is the largest acquirer in the UAE, and a leading payment solutions provider in the Middle East and North Africa region (MENA). The company’s service offering comprises a comprehensive range of payment products and services for both the Issuing and Acquiring segments of banks, financial institutions and retail merchants. This includes credit, debit and prepaid card processing, ATM management and monitoring, merchant acquiring and processing, fraud management, e-commerce services and mobile solutions for the payments industry, with the objective of enabling speedy, secure and convenient payment transactions for customers. In addition, the company offers several value-add products including data analytics, scoring and loyalty solutions. Network International has Operation centers in the UAE, Egypt and India, with its corporate head office in Dubai. The company recently acquired Emerging Markets Payments Holdings Limited (EMPH) and continues to invest in strategic partnerships that will increasingly see its influence spread across the region.


    Network International is a Principal Member of Visa International and MasterCard International in the UAE and enjoys extension of its MasterCard License in other key countries. It is also a member of JCB and Union Pay card schemes, and it owns and manages the Diners Club International Franchise in the UAE, Egypt, Lebanon and Jordan. In 2013, the company launched a GCC based domestic scheme, Mercury, and partnered with Discover Financial Services (DFS) to allow global acceptance of Mercury cards on the Discover, Diners Club International and PULSE networks. Network International, a Payment Card Industry Data Security Standard (PCI DSS) certified company, is also a major player in the international remittance industry and owns a 100 per cent stake in TimesofMoney Ltd., a leading global online remittance and digital payments company facilitating cross-border remittances and domestic payments in emerging economies.


    OT is a world leader in embedded digital security that protects you when you connect, authenticate or pay.


    OT is strategically positioned in high growth markets and offers embedded security software solutions for “end-point” devices as well as associated remote management solutions to a huge portfolio of international clients, including banks and financial institutions, mobile operators, authorities and governments, as well as manufacturers of connected objects and equipment.


    OT employs over 6 500 employees worldwide, including almost 700 R&D people. With a global footprint of 4 regional secure manufacturing hubs and 39 secure service centers, OT’s international network serves clients in 169 countries. For more information:


    Download The M World,
    All you need to know about the latest trends of the Mobility world, available on AppStore and Google Play









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    Business Wire IndiaBMW India Financial Services has partnered with ICICI Lombard General Insurance to offer premium motor insurance solutions for BMW customers.
    Dr. Stefan David Schlipf, MD and CEO, BMW India Financial Services said, “At BMW India Financial Services, we offer end-to-end automotive financial solutions which are significantly valuable to the premium clientele who require exclusive and flexible options. Motor insurance is a key aspect complementing vehicle purchase as it protects owners against unforeseen situations and ensures complete peace of mind. We have partnered with ICICI Lombard General Insurance to provide the most comprehensive and beneficial motor insurance solutions to BMW customers. Together, we look forward to a long-term relationship that will redefine the insurance experience for BMW customers in India.”
    Mr. Bhargav Dasgupta, MD and CEO, ICICI Lombard General Insurance said, “As India’s leading private sector general insurance company, ICICI Lombard offers superior customer experience and enjoys the trust of millions of customers. We are pleased to partner with BMW India Financial Services to provide motor insurance to BMW customers. BMW is one of the most admired luxury car companies in India and it will be our continuous endeavour to meet the motor insurance related requirements of the high-end clientele of BMW India Financial Services.”
    A delightful customer experience is designed to exceed expectations with faster claim processing and turn-around time. Transparent guidelines and processes ensure that there are no unpleasant surprises in store. 
    Motor insurance enjoyed by BMW customers covers an extensive range of parts to ensure that most of the damage is covered under claim and there is minimal burden on the customer. BMW India Financial Services values the safety of BMW customers and their loved ones above all and hence, damaged parts are not repaired but wholly replaced under cover. To ensure that a BMW delivers the same ‘Sheer Driving Pleasure’ as before, all repair work is carried out at authorised BMW dealerships as per international BMW standards, service costs for which are already covered under the contract.
    BMW India Financial Services has also introduced ‘My BMWFS’ mobile app that is designed to provide comprehensive real-time updates to its users while on the move. Customers can use the app to access exclusive financial offers, contract history, confirmations and reminders for EMI, service requests etc. at the click of a button. 
    BMW India Financial Services offers insurance solutions (as corporate agents) to its customers through its cooperation partners – Bajaj Allianz General Insurance and ICICI Lombard General Insurance. 
    BMW India Financial Services
    BMW India Financial Services is a 100% subsidiary of the BMW Group and is headquartered in Gurgaon (National Capital Region). Till date, BMW Group has invested 6.4 billion Indian Rupees (€ 98 million) in BMW India Financial Services.
    BMW India Financial Services operates with three business lines: Retail Finance, Commercial Finance and Insurance Solutions (as corporate agents). The services offered through BMW India Financial Services are significantly valuable to the premium clientele who require exclusive and flexible financial solutions. Service excellence is the primary focus of operations across all business lines.
    BMW India Financial Services offers solutions for retail automobile financing for BMW customers and multi make customers, financing for fleet owners and commercial financing for BMW dealerships and multi-make dealerships. Commercial finance solutions offered to BMW India dealerships further strengthen operations in the country and reinforce the BMW brand. BMW India Financial Services also offers BMW Lease for individuals and corporate customers.
    ICICI Lombard General Insurance
    ICICI Lombard GIC Ltd. is a joint venture between ICICI Bank Limited and Fairfax Financial Holdings Limited, a Canada-based diversified financial services company engaged in general insurance, reinsurance, insurance claims management and investment management. ICICI Lombard GIC Ltd. is one of the leading private sector general insurance companies in India with a Gross Written Premium (GWP) of Rs. 83.07 billion for the year ended 31 March 2016. The company issued over 15.80 million policies and settled over 1.62 million claims as on 31 March 2016.
    ICICI Lombard General Insurance was conferred with three Golden Peacock awards in a single year in 2016. These included 'Golden Peacock Corporate Social Responsibility Award' for its CSR initiatives, ‘Golden Peacock Innovation Management Award’ for promoting a culture of innovation and ‘Golden Peacock Award for Business Excellence’ for best management practices that act as the basis for business excellence. ICICI Lombard General Insurance was also adjudged the ‘Non-life Insurer of the Year’ at the coveted Outlook Money Awards 2016. The Company was conferred with the ‘E-Business Leader’ Award in the General Insurance Category at the Indian Insurance Award 2015 for its performance, growth, product and market innovation, customer service and technology. ICICI Lombard was also named as the ‘Best Travel Insurance Company’ by CNBC Awaaz Travel Awards 2015 presented by the Chattisgarh Government based on an online and on-air survey.

    Photo Caption: (L-R) Dr. Schlipf with Mr. Dasgupta

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    Business Wire IndiaCustomer Loyalty Month (CLM) is celebrated by UAE Exchange, India every year. The company organises various functions and campaigns across the country to honour the valuable and loyal customers. It is also a time when the company gives special offers and a lucky draw is also held in the month end.
    This month the company is offering an exclusive trip to Bangkok for the winner of the lucky draw, selected by the system during CLM. Any customer doing a transaction will be eligible to take part in the lucky draw. UAE Exchange is also giving a smartphone to a lucky customer who does a transaction through the company website
    Internally for staffs also, the company is offering cash incentives to winners of different contests, as an appreciation for best services given.
    Given the highly commoditized competitive market scenario today, customer experience programs are the most effective way to differentiate our organization from competitors. Ultimately, Customer Loyalty is about next time, every time, every month and every year.
    “CLM is a celebration for us to engage with our customers. What UAE Exchange is today is because of the loyal customers we have and the best service we can provide to them. It is also a pleasure to tell that not only in India, but globally also UAE Exchange will be celebrating CLM,” shared Mr. V George Antony, Managing Director, UAE Exchange India.
    UAE Exchange India provides a bunch of products like foreign exchange, loans, Tours & Travel, Insurance, XPay Cash Wallet, Money Transfer and share trading. With almost two decades of experience in providing value-added services to the customers, with 376 branches, UAE Exchange India delivers cost effective solutions through a combination of advanced technology, proven processes, and outstanding personnel.   

    Photo Caption: UAE Exchange Celebrates Customer Loyalty Month

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    Business Wire India

    Visa Inc. (NYSE:V), the exclusive payment provider at the Olympic and Paralympic Games, introduced a new innovation for use at the Rio 2016 Games – the first payment wearable ring backed by a Visa account. The Visa payment ring will be given to all Team Visa athletes in Rio, a group of 45 Olympic hopefuls from around the world who embody Visa’s values of acceptance, partnership and innovation. The Visa payment ring is NFC-enabled, allowing Team Visa athletes to make purchases by simply tapping their ring at any NFC-capable payment terminal.


    This Smart News Release features multimedia. View the full release here:

    This Visa payment ring is the first-ever NFC-enabled, tokenized payment ring. Visa created the ring  ...

    This Visa payment ring is the first-ever NFC-enabled, tokenized payment ring. Visa created the ring for its Team Visa athletes competing in the Rio 2016 Olympic and Paralympic Games. (Photo: Business Wire)

    Key features of the ring make this a unique payment experience. The ring uses the patented NFC Ring® design of McLear & Co. that includes a secure microchip made by Gemalto, with an embedded NFC-enabled antenna, enabling contactless payment capabilities. Unlike many other payment wearables, the ring does not require use of a battery or recharging. It is also water resistant to a depth of 50 meters, meaning Team Visa athlete and Olympic gold medalist Missy Franklin can go from the pool to payment all with the tap of her ring.


    In addition, at an event in New York City, Visa demonstrated an advanced prototype version of the Visa payment ring, which uses token technology provided through Visa Token Service, making it the first tokenized payment ring. Visa’s token technology replaces sensitive payment information, such as the 16-digit account number, with a unique digital identifier that can be used to process payments without exposing actual account details.


    “Visa’s first payment ring puts smart payment technology right on the hands of our athletes for convenient and easy payments,” said Jim McCarthy, executive vice president of innovation and strategic partnerships at Visa Inc. “This ring is the latest example of how Visa is continuously innovating to deliver on its goal of universal acceptance at the games and across the world.”


    Athletes and fans will also be able to use their Visa accounts leading up to, and at the Rio Games, using various new form factors. From booking and planning their trip using Visa Checkout or making purchases at the games on their mobile phone, both experiences are first-time offerings for Rio 2016, enabling athletes and fans to swipe, tap, dip or click to pay during their Olympic experience.


    “As an Olympian, rings have a special meaning to me,” said Missy Franklin, a four-time Olympic gold medalist and Team Visa athlete. “The Visa ring is a great innovation that I know all the athletes competing in Rio will enjoy as it will be great to go from a competition to purchase without having to carry a wallet or card.”


    As the exclusive payment provider of the Olympic Games, Visa is creating and managing the entire payment system infrastructure and network throughout all venues including stadiums, press centers, point-of-sale (POS), the Olympic Village and Olympic Superstores. In Rio, Visa will implement approximately 4,000 NFC-enabled POS terminals capable of accepting mobile and wearable payments across key Olympic venues, the US Olympic Committee’s USA House and Copacabana Megastore.


    As the payments industry increasingly shifts from plastic to digital, new technology advances from Visa and its partners are bringing consumers a simple and more secure purchasing experience.


    About Visa Inc.: Visa Inc. (NYSE: V) is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world's most advanced processing networks — VisaNet — that is capable of handling more than 65,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, pay ahead of time with prepaid or pay later with credit products. For more information, visit, and @VisaNews.





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    Business Wire India

    OT (Oberthur Technologies), a leading global provider of embedded security software products and services, announced a key partnership with Mobvoi, the leading Artificial Intelligence and smart watch company, and China Union Pay (CUP), the Chinese payment scheme, to launch one of the first Android smart watches allowing secure contactless payment in China secured by OT’s embedded Secure Element.


    This Smart News Release features multimedia. View the full release here:

    OT partners with Mobvoi and CUP to launch the first secure contactless payment service on Ticwatch i ...

    OT partners with Mobvoi and CUP to launch the first secure contactless payment service on Ticwatch in China (Photo: Business Wire)

    Mobvoi’s Ticwatch is by far the best selling Android smart watch in China since its launch in September 2015. With the objective to provide a revolutionary payment experience on a smart watch, Mobvoi, in collaboration with CUP and OT has now added the convenience of secure payment with a wave of the wrist. To make a purchase, users will just need to wave their Ticwatch in front of a contactless CUP payment terminal in the near future. By mid 2017, all payment terminals will support contactless payment following China’s central bank regulation.


    In order to secure the CUP payment service running on Mobvoi’s smart watches, PEARL by OT® embedded Secure Element was chosen. It is the most advanced multi-application eSE offering the highest level of security and the largest memory on the market. This all-in-one product allows easy deployment of NFC services, such as payment, transit, governmental and automotive applications, as well as online services for enterprise and consumer markets. It is the safest possible place to store confidential information and execute sensitive applications. PEARL by OT® is certified by all major payment schemes for mobile payment, including CUP.


    Thanks to PEARL by OT®, paying with a Ticwatch will become incredibly convenient and seamless for end-users. They will simply install a Ticpay onto their mobile phone to activate the service, then simply by scanning an existing payment card, they can add it to Ticpay.


    We believe that contactless payment is the revolutionary payment lifestyle enabled by wearable devices.With this in mind, we are developing the wearable technologies to provide a secure, efficient and seamless payment experience to all our users.We are delighted to collaborate with OT and China Union Pay to bring an innovative payment mechanism on Ticwatch throughout China. Thanks to OT’s technology, we will be able to bring convenience to our customers combined with a high level of security for NFC payment. In addition, whilst the service will be initially available in China, we would like to bring this service to our global audience and continue this collaboration” said ZhiFei Li, founder& CEO at Mobvoi.


    We are delighted that Mobvoi has selected OT to secure sensitive applications in the next generation of Ticwatch smart watches including CUP’s contactless payment service, but also transport applications for major Chinese city transport operators. At OT, we provide embedded security solutions that protect the critical assets of end-users, ensuring the consumer experience offers convenience and maximum ease of use” said Marek Juda, Managing Director of the Connected Device Makers business at OT.


    OT will demonstrate this first secure contactless payment service on Ticwatch in China with Mobvoi and CUP during Mobile World Congress at Shanghai on its booth N2.A10 from June 29 to July 1, 2016.




    OT is a world leader in embedded digital security that protects you when you connect, authenticate or pay.


    OT is strategically positioned in high growth markets and offers embedded security software solutions for “end-point” devices as well as associated remote management solutions to a huge portfolio of international clients, including banks and financial institutions, mobile operators, authorities and governments, as well as manufacturers of connected objects and equipment.


    OT employs over 6 500 employees worldwide, including almost 700 R&D people. With a global footprint of 4 regional secure manufacturing hubs and 39 secure service centers, OT’s international network serves clients in 169 countries. For more information:


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    Business Wire India

    Visa Inc. (NYSE:V) announced the addition of Yusra Mardini to Team Visa Rio 2016. A competitive swimmer who grew up in Syria, Mardini’s journey to the Olympic Games took a turn one year ago when she fled to Greece with 20 others on a small inflatable dinghy. A few miles from the Grecian shore, the boat’s engine failed and Mardini and her sister, two of only three swimmers onboard, swam for three hours, pulling the boat to safety.


    “I am honored to be joining Team Visa’s community of Olympic hopefuls on the road to Rio 2016,” said Yusra Mardini, 18, who now lives and trains in Germany with her family. “Since arriving in Berlin, I have been humbled by the warm welcome I’ve received from the swimming community and everyone associated with the Olympic Games. It means so much to me to have a partner that accepts me, includes me, and provides me with the same opportunities as other athletes competing in Rio.”


    Since the program began in 2004, Team Visa has aimed to provide athletes with the tools, resources and support they need to reach their highest potential, regardless of origin or background. Olympic hopefuls representing Team Visa at Rio 2016 are selected based on their personal journeys to the Olympic and Paralympic Games, athletic achievements and community involvement. The Team Visa program connects Olympians, and those who follow the Olympic Games, to Visa’s values of acceptance, partnership and innovation.


    “Our belief in the power of acceptance truly comes to life every two years through our Olympic partnership and the competitors that represent us at the Olympic Games,” said Chris Curtin, chief brand and innovation marketing officer, Visa Inc. “Team Visa embodies our belief that everyone, regardless of background, should be given the ability to reach their highest potential. We’re thrilled to welcome Yusra and to invite additional refugee Olympic athletes to join Team Visa’s incredible community.”


    “I’m am so inspired by Yusra’s story, and thrilled to welcome her to Team Visa,” said Ashton Eaton, reigning Olympic decathlon champion. “The Olympics is all about bringing people together, and I’m so proud to stand with Yusra and the other Team Visa athletes in a powerful display of what acceptance can really look like on the world stage.”


    Visa stands with the International Olympic Committee in supporting refugee athletes who seek to compete at the Rio 2016 Olympic Games. Mardini is the second refugee athlete to partner with Visa to date, following Raheleh Asemani (Belgium, Taekwondo), who joined Team Visa in April, and who is now a citizen of Belgium. Visa will extend its Team Visa support to additional refugee Olympic athletes in the weeks to come.


    A diverse group of athletes welcomes Mardini to Team Visa, including: Ibtihaj Muhammad (USA, Fencing), the first Muslim American woman to compete at the Olympics in a hijab; Terezinha Guilhermina, (Brazil, Paralympic Athletics), the world’s fastest blind woman; Chen Long (China, Badminton) and Olga Kharlan (Ukraine, Fencing), both Olympic Bronze medalists and two-time World Champions in their respective sports.


    Visa’s commitment to the Olympic Movement began in 1986, and includes sponsorship of all Olympic Games from 1988 – 2020, along with more than 300 sponsored athletes through the Team Visa program.


    About Visa:


    Visa Inc. (NYSE:V) is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world’s most advanced processing networks — VisaNet — that is capable of handling more than 56,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit, and @VisaNews.





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    Business Wire IndiaBangalore-based microfinance firm Grameen Koota Financial Services Pvt. Ltd. (Grameen Koota) has lowered its interest rates by 200 basis points (2 percentage points) for education, water and sanitation loans, as part of its social objective to pass on benefits of low operational costs and reduced borrowing costs to its customers. The new rates of interest came into effect from June 1, 2016. 

    With this Grameen Koota borrowers will get education, water and sanitation loans at 18%, a significant 200 basis points reduction from 20% which were charged earlier. For the financial year 2016-17, Grameen Koota aims to disburse over Rs 800 crore under socially-focused loan products with the new reduced pricing. Grameen Koota has also reduced the core income generation loan rate by 1% from 23% to 22%.

    “Grameen Koota has designed several socially-focused loans aimed at achieving developmental goals of poor and low income households. Our loans for children's primary education, water connection, sanitation, medical and other emergencies mainly serve the purpose. This reduced interest rate will certainly help our customers to plan and avail more loans and also utilize them more efficiently,” said Mr. Udaya Kumar, Grameen Koota’s Managing Director and CEO.

    Supporting Grameen Koota's move to reduce interest rates, Paulo Brichetti, CEO of CreditAccess Asia NV, the parent company of Grameen Koota, said, “We are pleased with Grameen Koota's continuous  efforts to improve upon operational costs, thus enhancing their ability to provide services at low cost. Keeping in mind our long term relationship with our customers and their welfare, we always encourage our group companies to pass on such benefits as much as possible to our customers.” 

    Headquartered in Bangalore, Grameen Koota has 334 branches serving 1.4 million customers, with plans to add 70 more branches by the end of 2016. From social performance perspective, Grameen Koota's flagship social awareness program 'Jagruthi' has reached 1.2 million customers as of March 2016. Further, re-certification by Smart Campaign for upholding client protection principles, a Social Rating upgrading to ‘∑α’, a code of conduct adherence rating of 'COCA 1' by SMERA and the MIX S.T.A.R. MFI recognition for its commitment to social performance and pro-poor business – all indicate Grameen Koota's commitment to fulfil both its financial and social development goals.

    About Grameen Koota:
    Grameen Koota Financial Services Pvt. Ltd., a group company of CreditAccess Asia NV, provides finance and development services to female customers from poor and low income households in all the geographical areas of its operation, which include Karnataka, Maharashtra, Tamil Nadu, Madhya Pradesh and Chhattisgarh. Headquartered in Bangalore, Grameen Koota has 334 branches serving 1.4 million customers.  It  has been given the top industry grading of ‘mfR1’ by CRISIL and its long-term BASEL and NCD ratings by ICRA have been upgraded to 'A-' during the year, with the industry's top Microfinance India award accorded to it in December 2015.
    More information on Grameen Koota can be found at

    About CreditAccess Asia:
    CreditAccess Asia NV (“CreditAccess”) is an innovative operator of integrated credit institutions across Asia, offering loans and other financial products to self-employed, micro and small enterprises in India, Indonesia, and the Philippines. Today, its regional companies in Asia, including Grameen Koota, have a total loan portfolio of over US$400 million with more than 1.6 million clients. Over the next two years, CreditAccess Asia aims to expand its operations into one to two new countries in Asia and to more than double its client base to over 3 million customers.

    More information on CreditAccess Asia N.V. can be found at

    Photo Caption: Grameen Koota customers attending the weekly centre meeting. 

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    Business Wire IndiaWith a ‘normal’ monsoon on the cards – going by the Met Bureau – this Tuesday (June 7) when the RBI is scheduled to hold its bi-monetary policy review, we may still not see the RBI Governor Raghuram Rajan making any ‘big bang’ announcements, said Niranjan Hiranandani, MD, Hiranandani Communities. “Market Pundits say there is scope for a marginal reduction in rates; but the RBI Governor will in all probability, wait and watch how the monsoon behaves in the first two months. In the next bi-monthly review in August, we may see him dropping the rates by 25 bps or thereabouts,” he added.
    The last rate cut was in April this year, when the RBI Governor cut the repo rate by 25 bps to 6.50 per cent. The CRR was kept unchanged at 4 per cent.
    “From a real estate perspective, if the RBI opts to cut the rates, this move has the potential to reduce the overall burden for home buyers; and can potentially, boost real estate sales by enhancing positive sentiment for home seekers,” pointed out Niranjan Hiranandani.
    Apart from a good monsoon, the RBI Governor is keeping watch on transmission of rate cuts to end users, he added.
    “From a home buyer’s perspective, significant rate transmissions by banks and HFIs will enhance positive sentiment in the next few months. The last time the RBI Governor cut key rates, he specifically mentioned the need for banks to pass on the rate cuts to customers,” said Niranjan Hiranandani. “Post the Budget, we are seeing monetary policy being supportive of economic growth. Declining inflation and negative industrial outlook seem to have strengthened the case for the rate cut, although market expectations are that this Tuesday, the RBI Governor in all probability, will maintain ‘status quo’,” he concluded.
    ~ Niranjan Hiranandani is Founder & MD, Hiranandani Group, his recent initiative is Hiranandani Communities. He is the Founder and First President (Maharashtra), National Real Estate Development Council (NAREDCO), which works under the aegis of Ministry of Housing & Urban Poverty Alleviation, Government of India.

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    Business Wire India

    Umpqua Holdings Corporation announced a new collaboration project between its subsidiary, Pivotus Ventures, and the UK’s Nationwide Building Society. The arrangement with Nationwide, the world’s largest building society with more than $290 billion in assets, adds international scope, resources and customer insight to the Pivotus innovation studio in Silicon Valley.


    The collaboration is an important next step in Umpqua’s broader strategy in forming Pivotus, which is focused on leading the way in innovation by bringing together some of the best thinking in the world to develop new digital banking propositions that transform the customer experience.


    Both Umpqua and Nationwide approach innovation through a shared focus on customer experience. As a mutual, Nationwide is owned by and run for the benefit of its 15 million customers and members. Umpqua Bank, the West coast’s largest community bank, has embedded corporate responsibility and customer experience within its culture to ensure that those values are reflected at every stage of the organization’s business decisions.


    “Like Umpqua, Nationwide Building Society is focused on creating a differentiated customer experience and recognizes the increasingly important role technology plays in bringing that to life,” said Ray Davis, president and CEO of Umpqua Holdings Corporation. “Through strategic collaborations like this, Pivotus is able to tap the agility and customer experience of companies like Umpqua Bank and Nationwide to create a banking experience for the future that builds value for customers and communities. We’re very pleased to begin working with Nationwide and look forward to the potential for additional collaborators in the future.”


    Umpqua Bank is known internationally for reinventing retail banking and for its innovative customer experience. In 1995, Umpqua introduced its bank store model, the first piece in its strategy to create a customer-centric financial services organization. In addition to a full suite of mobile and digital customer tools, Umpqua has continued to reinvent the customer banking experience with innovations including:

    • App Walls: These large-format interactive touchscreens in Umpqua locations feature bank products and services as well as a collection of in-house and curated mobile apps.
    • The President’s Phone: To provide customers with a direct connection to leadership all Umpqua stores include a phone that connects directly to the CEO’s desk.
    • Local Spotlight: Umpqua makes its commitment to small businesses real by showcasing and selling products from local companies, and returning all proceeds directly to those businesses.

    “We’re living through a period of unprecedented technological change that’s transforming how people live, work, shop and bank,” said Tony Prestedge, COO of Nationwide Building Society. “As a member owned organization, Nationwide is excited to work with Umpqua and Pivotus to create new digital experiences that will engage and inspire customers well into the future. Our focus on innovation is driven by evolving customer needs and the emphasis on providing customer choice, so customers can manage their money where, when and how they want. Digital developments provide the opportunity for Nationwide to offer even greater access and convenience to customers as we focus on the next generation of online and mobile services to complement traditional face to face interactions.”


    This collaboration project is the latest in a history of world class, customer-centric innovations from Nationwide. In 2014, Nationwide became the first high street provider in the UK to offer 24/7 customer service on social media with its @asknationwide Twitter Team, became the first financial services provider in the UK to offer a wearable banking app which was rolled out to Apple Watch during the Summer of 2015 and in 1997 was the first to offer an Internet bank in the UK.


    About Umpqua Holdings Corporation


    Umpqua Holdings Corporation (NASDAQ: UMPQ) is the parent company of Umpqua Bank, an Oregon-based community bank recognized for its entrepreneurial approach, innovative use of technology, and distinctive banking solutions. Umpqua Bank has locations across Idaho, Washington, Oregon, California and Northern Nevada. Umpqua Holdings also owns a retail brokerage subsidiary, Umpqua Investments, Inc., which has locations in Umpqua Bank stores and in dedicated offices in Oregon. Umpqua Private Bank serves high net worth individuals and non-profits, providing trust and investment services. Umpqua Holdings Corporation is headquartered in Portland, Oregon. For more information, visit


    About Nationwide Building Society


    Nationwide is the world's largest building society as well as one of the largest savings providers and a top-three provider of mortgages in the UK. It is also a major provider of current accounts, credit cards, ISAs and personal loans. Nationwide has around 15 million customers.


    Customers can manage their finances in a branch, via the mobile app, on the telephone, internet and post. The Society has around 17,000 employees. Nationwide's head office is in Swindon with administration centres based in Northampton, Bournemouth and Dunfermline. The Society also has a number of call centres across the UK. For more information, visit


    About Pivotus Ventures


    Pivotus Ventures, a subsidiary of Umpqua Holdings Corporation, is an innovation studio chartered with imagining and creating key technologies and business models that transform finance and commerce. Pivotus was founded with a goal of combining the power of the start-up model with the direct access to capital, customers and infrastructure available only within established financial services institutions.





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    Business Wire India

    Globally, only one-fifth of boards and 16 percent of executive committees in financial services are comprised of women, according to the Women in Financial Services report by global management consultancy Oliver Wyman. This is only a slight improvement in both categories since the report was last published in 2014.


    Oliver Wyman notes that at current progress, it will take more than 30 years (until 2048) for executive committees in the financial services industry globally to reach 30 percent female representation (the level at which research suggests a minority’s voice comes to be heard). Currently, women have the highest representation on executive committees in Norway and Sweden, with Japan and South Korea needing the greatest improvement.


    The report includes an analysis of 381 financial services organizations in 32 countries, a survey of 850 financial services professionals around the world and interviews of more than 100 senior female and male leaders.


    “The industry is far from where it should be on gender balance. We hope that this second report will advance the discussion further – delving deeper into it, raising awareness and supporting much needed change in the industry,” said Ted Moynihan, Managing Partner of Financial Services at Oliver Wyman. “The low representation of women on executive committees in particular is a problem. An organization’s key business and strategic decisions are made by its executive committee and they are also highly visible, both internally and externally, making them effective as role models and sponsors – and essential for driving business success.”


    Of additional concern, female executives in financial services are nearly 30 percent more likely to leave their employer than are their peers in other industries. The data and responses suggest that many women face a mid-career conflict and a less attractive ‘career trade-off’ than men – with insufficient flexible working hours and support for family responsibilities, persistent views of shortcomings regarding promotion and equal pay, and unconscious bias.


    “Diversity must be seen as a commercial imperative rather than just as part of corporate social responsibility or fairness in the workplace,” said Astrid Jaekel, Oliver Wyman Partner and report author. “Gender balance provides access to the full talent pool, better decision making by bringing together different perspectives, improved services to customers by better representing them, and a stronger economy. Organisations need to advance women by offering bolder structural solutions to the mid-career conflict outlined in this report, creating the right working arrangements and fostering more profound cultural change.”


    The report also includes a series of shorter articles on:

    • Areas of particular concern (Germany and Switzerland, asset management and risk functions).
    • Success stories with more women in leadership positions (the public sector).
    • Areas where a new dynamic may be emerging (China’s Fintech sector and millennial women in the US).
    • Specific aspects of diversity (pay equity, leadership styles).
    • How the industry can move forward (a call for action by 30% Club).
    • Financial inclusion of women (based on a roundtable discussion conducted in collaboration with Women’s World Banking).

    About Oliver Wyman


    Oliver Wyman is a global leader in management consulting. With offices in 50+ cities across 26 countries, Oliver Wyman combines deep industry knowledge with specialized expertise in strategy, operations, risk management, and organization transformation. The firm's 3,700 professionals help clients optimize their business, improve their operations and risk profile, and accelerate their organizational performance to seize the most attractive opportunities. Oliver Wyman is a wholly owned subsidiary of Marsh & McLennan Companies [NYSE: MMC]. For more information, visit Follow Oliver Wyman on Twitter @OliverWyman.



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    Business Wire IndiaInternational healthcare group Bupa and leading multi-business corporate, Max India Ltd., today announced the completion of the transaction to increase Bupa’s shareholding in their health insurance joint venture Max Bupa from 26% to 49%.

    The application to increase Bupa’s shareholding was submitted following changes to India’s foreign direct investment (FDI) rules to allow up to 49% ownership of insurance companies by foreign investors. Bupa is one of the first foreign investors in India’s health insurance sector to have its application to increase its shareholding approved by Indian regulatory authorities and complete the transaction with its joint venture partner. Bupa has paid Rs. 207 cr (approximately GBP 21.9m) to Max India, in an all cash transaction, for the stake increase.
    The transaction was concluded after receiving regulatory clearances from the Insurance Regulatory and Development Authority of India (IRDAI).
    Launched in 2010, Max Bupa is already the 7th largest private health insurer in India. With a base of more than two million customers across India, it continues to be amongst the fastest growing stand-alone health insurers. The company has focused on building a retail customer and product portfolio via multiple sales channels including agency, bancassurance, telesales and online.
    David Fletcher, Managing Director of International Development Markets at Bupa said: "We are pleased to have completed the transaction with our partners Max India to increase our shareholding in Max Bupa to 49%. Bupa’s commitment to the Indian health insurance market is strong, demonstrated by the speed we have moved to increase our shareholding. We are excited about continuing to work with Max India on the growth and development of our joint venture Max Bupa, offering Indian consumers and families high quality, affordable health insurance.”
    Rahul Khosla, President, Max Group and Chairman, Max India, said, “Bupa’s stake increase is a clear affirmation of the huge growth opportunity for health insurance in India. The proceedings received from the transaction will support the growth aspirations of Max India as well as Max Bupa. This increase in commitment by Bupa, coupled with the recent strategic reorientation of Max India, will strengthen Max Bupa’s position as an innovative leader in its field while setting new benchmarks in customer experience.”
    About Bupa
    We are a purposeful, commercial organisation. Bupa's purpose is: longer, healthier, happier lives. It defines everything we do and is the reason we exist. With no shareholders, our profits are reinvested to provide more and better healthcare fulfilling our purpose.

    As a leading global health and care company, we offer health insurance, medical subscription and other health and care funding products; we run care homes, retirement and care villages, primary care, diagnostic and wellness centres, hospitals and dental clinics. We also provide workplace health services, health assessments and long-term condition management services.

    We have 32 million customers in 190 countries. With no shareholders, we reinvest our profits to provide more and better healthcare and fulfil our purpose.

    We employ 84,000 people, principally in the UK, Australia, Spain, Poland, New Zealand and Chile, as well as Saudi Arabia, Hong Kong, India, Thailand and the USA.
    About Max Group

    The Max Group is a leading Indian multi-business conglomerate with a commanding presence in the Life Insurance, Health & Allied businesses and packaging sectors. In FY 2016, the Group recorded consolidated revenues of Rs. 14,237 Cr. It has a total customer base of 9 million, nearly 240 offices spread across India and people strength of 22,500 as on 31st March 2016. The Group’s investor base includes marquee global financial institutions such as Goldman Sachs, IFC Washington, Temasek, Fidelity and New York Life.
    The Max Group comprises three holding companies, namely Max Financial Services, Max India and Max Ventures & Industries.

    About Max Bupa Health Insurance

    Max Bupa is a joint venture between Max India Limited, a multi-business corporate with expertise in healthcare and allied businesses and Bupa, a leading global health and care company with 65 years of healthcare knowledge. Max Bupa offers individual and family oriented health insurance policies across the country through its multiple distribution platforms to customers across all age groups. Max Bupa has a direct working relationship with a network of over 3500 top quality hospitals and healthcare providers, with plans to extend its network of hospitals to other parts of the country. Max Bupa services customers directly without third party involvement. For more details about the company, please visit

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    Business Wire IndiaWNS (Holdings) Limited (WNS) (NYSE: WNS), a leading provider of global Business Process Management (BPM) services, today announced it has completed the acquisition of Value Edge Research Services Pvt. Ltd. after receiving approval from the Reserve Bank of India (RBI). Cash consideration for the transaction is $17.5 million (plus adjustments for cash and working capital), which is expected to be funded with cash on hand. The acquisition is expected to be accretive to earnings in fiscal 2017.  WNS entered into a definitive agreement on March 11, 2016 to acquire Value Edge, a leading provider of commercial research and analytics services to clients in the Pharma / Biopharma industry. 
    About WNS
    WNS (Holdings) Limited (NYSE: WNS), is a leading global business process management company. WNS offers business value to 200+ global clients by combining operational excellence with deep domain expertise in key industry verticals including Travel, Insurance, Banking and Financial Services, Manufacturing, Retail and Consumer Packaged Goods, Shipping and Logistics, Healthcare and Utilities. WNS delivers an entire spectrum of business process management services such as finance and accounting, customer care, technology solutions, research and analytics and industry specific back office and front office processes. As of March 31, 2016, WNS had 32,388 professionals across 40 delivery centers worldwide including China, Costa Rica, India, Philippines, Poland, Romania, South Africa, Sri Lanka, United Kingdom and the United States. For more information, visit
    Forward-Looking Statements
    This report contains forward-looking statements, as defined in the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current expectations and assumptions about Value Edge, our Company and our industry. Generally, these forward-looking statements may be identified by the use of terminology such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “will,” “seek,” “should” and similar expressions. These statements include, among other things, the discussions of the completion of our acquisition of Value Edge, the timing of the completion of our acquisition of Value Edge, and the expected benefits of our acquisition of Value Edge, our growth opportunities, industry environment, expectations concerning our future financial performance and growth potential. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include but are not limited to worldwide economic and business conditions; political or economic instability in the jurisdictions where we have operations; regulatory, legislative and judicial developments; our ability to attract and retain clients; technological innovation; telecommunications or technology disruptions; future regulatory actions and conditions in our operating areas; our dependence on a limited number of clients in a limited number of industries; our ability to expand our business or effectively manage growth; our ability to hire and retain enough sufficiently trained employees to support our operations; negative public reaction in the US or the UK to offshore outsourcing; the effects of our different pricing strategies or those of our competitors; and increasing competition in the BPM industry. These and other factors are more fully discussed in our most recent annual report on Form 20-F and subsequent reports on Form 6-K filed with or furnished to the US Securities and Exchange Commission (SEC) which are available at We caution you not to place undue reliance on any forward-looking statements. Except as required by law, we do not undertake to update any forward-looking statements to reflect future events or circumstances.
    References to “$” and “USD” refer to the United States dollars, the legal currency of the United States.

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    Business Wire India

    MSCI Inc. (NYSE: MSCI), a leading provider of global equity indexes, announced that it will delay including China A shares in the MSCI Emerging Markets Index. Over recent months, Chinese authorities have introduced significant improvements in the accessibility of the China A shares market for global investors. These improvements touch the major categories previously cited as impediments to inclusion: (1) resolution of the issues regarding beneficial ownership, (2) enhanced regulations on trading suspension, which was flagged as the most critical by investors, and (3) QFII policy changes aimed at addressing quota allocation and capital mobility restrictions.


    “There have been significant steps toward the eventual inclusion of China A shares in the MSCI Emerging Markets Index,” said Remy Briand, MSCI Managing Director and Global Head of Research. “They demonstrate a clear commitment by the Chinese authorities to bring the accessibility of the China A shares market closer to international standards. We look forward to the continuation of policy momentum in addressing the remaining accessibility issues.”


    Mr. Briand added, “International institutional investors clearly indicated that they would like to see further improvements in the accessibility of the China A shares market before its inclusion in the MSCI Emerging Markets Index. In keeping with its standard practice, MSCI will monitor the implementation of the recently announced policy changes and will seek feedback from market participants.”


    MSCI gathered feedback from market participants on the potential inclusion of China A shares in the MSCI Emerging Market Index during an extensive global consultation. Investors recognized the actions taken to further open the China A shares market and highlighted that the topic of beneficial ownership has been satisfactorily resolved. They generally stressed the need for a period of observation to assess the effectiveness of the QFII quota allocation and capital mobility policy changes as well as the effectiveness of the new trading suspension policies. The 20% monthly repatriation limit remains a significant hurdle for investors that may be faced with redemptions such as mutual funds and must be satisfactorily addressed. Finally, the local exchanges’ pre-approval restrictions on launching financial products remain unaddressed. Hence, MSCI will retain the China A shares inclusion proposal as part of the 2017 Market Classification Review. MSCI does not rule out a potential off-cycle announcement should further significant positive developments occur ahead of June 2017.


    In the announcement, MSCI also said that the MSCI Pakistan Index will be reclassified to Emerging Markets status, coinciding with the May 2017 Semi-Annual Index Review.


    The MSCI Peru Index will remain in the MSCI Emerging Markets Index. However, MSCI highlighted that it will proceed with the reclassification of Peru to Frontier Markets status in the event that the MSCI Peru Index falls short of the minimum requirement for Emerging Markets that the index contains at least three constituents. As a reminder, the MSCI Peru Index currently includes the minimum of three constituents.


    MSCI also announced that it will include the MSCI Argentina Index in its 2017 Annual Market Classification Review for a potential reclassification to Emerging Markets status.


    The MSCI Korea Index, however, will not be included on the list for a potential reclassification to Developed Markets status as part of the 2017 Review because the recent changes announced by the Financial Services Commission in South Korea will not take effect until 2017 and the investment frictions related to the lack of convertibility of the Korean Won and restrictions imposed by the local stock exchange on the use of exchange data for the creation of financial products remain unaddressed.


    MSCI further announced that the MSCI Nigeria Index may be removed from the MSCI Frontier Markets Index and reclassified as a stand-alone market due to capital mobility issues. MSCI said it will consult with international institutional investors over the coming three months on a reclassification proposal that could be implemented with the November 2016 Semi-Annual Index Review.


    MSCI said that it welcomes the recent market accessibility enhancements announced by the Saudi Arabian Capital Market Authority and the Saudi Stock Exchange (Tadawul) and will continue to monitor the positive evolution in the opening of the Saudi Arabian equity market for international institutional investors. The announced changes, including changes to the settlement cycle of listed securities, elimination of the cash prefunding requirement and the introduction of proper delivery versus payment – as well as changes to the rules for Qualified Foreign Investors – are planned to be implemented by mid-2017. Once in effect, these enhancements will bring the Saudi equity market closer to Emerging Market accessibility standards.


    Finally, MSCI released the 2016 Global Market Accessibility Review for the 82 markets under its coverage.


    Each June, MSCI communicates its conclusions, based on discussions with the international investment community, on a list of markets under review. At that time, it also announces new markets to be reviewed for potential market reclassification in the upcoming cycle.


    China A shares


    MSCI continues to observe positive market-opening developments in the Chinese equity capital market. In particular, it sees the recently-announced enhanced trading suspension regulation, the clarification regarding beneficial ownership and QFII policy changes addressing restrictions on quota allocations and capital mobility as significant steps toward the eventual inclusion of China A shares in the MSCI Emerging Markets Index.


    MSCI previously highlighted four issues to be resolved before the inclusion of China A shares in the MSCI Emerging Markets Index as part of the MSCI 2016 Annual Market Classification Review:




    Beneficial ownership

        Most international institutional investors are satisfied with the clarification released by CSRC in early May 2016 about the beneficial ownership issues. Hence, MSCI considers this question to be resolved.



    Effectiveness of the QFII policy changes affecting accessibility and capital mobility

        International institutional investors need more time to work with the relevant regulator and gather experience regarding the recently implemented QFII policy changes, including policy enhancements intended to improve capital mobility. For example, a number of international investors said that they were still awaiting their QFII quota allocation for applications submitted months before. Other investors said that they were not yet able to benefit from daily capital repatriation despite the fact that policy changes went into effect in early February of this year. Positive experiences on quota applications, as well as seamless execution of daily capital repatriation under the new rules, are critical considerations for international investors in supporting inclusion in the MSCI Emerging Markets Index.
        Additionally, a large number of market participants highlighted the operational challenges surrounding the monthly repatriation limit that remained unaddressed as part of the recent capital mobility enhancements. Under current regulation, QFII investors cannot repatriate on a monthly basis more than 20% of their prior-year net asset value. This limit poses a potential liquidity concern for investors who need to honor redemption outflows from their clients, and thus must be removed or substantially increased with a shorter repatriation horizon, otherwise the effectiveness of the QFII channel would be significantly reduced.



    Implementation of measures preventing widespread voluntary suspensions of trading

        The suspension of stock trading was a focal point of discussion during the MSCI consultation. International investors were extremely vocal about the liquidity risk that may result from voluntary suspensions in trading of mainland Chinese companies. In that context, MSCI welcomes the recently announced measures on suspension treatment by the Shanghai and Shenzhen stock exchanges, while noting that the market practice remains unique not only for Emerging Markets but for all markets covered by MSCI. Given that the new regulation has been implemented very recently, a period of observation is needed to assess its effectiveness and determine that the number of suspended stocks on the Shanghai and Shenzhen exchanges has been significantly reduced.



    Pre-approval requirements imposed by the local Chinese stock exchanges

        International investors expressed concern over potential uncertainties regarding the broad pre-approval restrictions imposed by the Shanghai and Shenzhen stock exchanges on launching financial products by any financial institution on any stock exchange internationally if these products are linked to indexes that include China A shares. These restrictions apply to any new financial products as well as to any existing products. The breadth of the restrictions is unique in Emerging Markets, as is the possibility that existing financial products based on the MSCI Emerging Markets Index would be in danger of having their trading disrupted if China A shares were included in Emerging Markets and a Chinese exchange withheld its approval of MSCI’s licensing of the MSCI Emerging Markets Index as the basis of that product. Consequently, a vast majority of investors said that alignment to international norms and satisfactory resolution of this issue is essential if they are to include A shares in their investment opportunity set.
        Recognizing the significant progress to date and ongoing reform efforts, MSCI said that China A shares will remain on the 2017 review list, pending the conclusion based on investor feedback that the QFII policy changes and new suspension treatment are effectively implemented, and the issue of pre-approval requirements is resolved. MSCI does not rule out a potential off-cycle announcement should significant positive developments occur ahead of June 2017.



    MSCI is adding the MSCI Argentina Index to the review list for a potential reclassification to Emerging Markets status as part of the 2017 Annual Market Classification Review.


    In December 2015, the Argentinian Central Bank abolished foreign exchange restrictions and significantly relaxed the capital controls that have been in place for a number of years. These changes have resulted in, among other things: (1) a floating currency, (2) the elimination of cash reserves and monthly repatriation limits on the equity market and (3) a significant reduction in the capital lock-up period for investments. Consequently, the Argentinian equity market meets most of the accessibility criteria for Emerging Markets.




    MSCI announced that it is launching a consultation on a potential reclassification of the MSCI Nigeria Index to stand-alone market status.


    The Central Bank of Nigeria pegged the local currency to the US dollar in early 2015, resulting in a sharp decline in liquidity on the foreign exchange market. Hence, the ability of international institutional investors to repatriate capital has been significantly impaired to a point where the investability of the Nigerian equity market is being questioned.


    Due to the urgent nature of this investability issue in the MSCI Nigeria Index, MSCI will announce its decision on the proposal to remove the MSCI Nigeria Index from the MSCI Frontier Markets Index by the end of September 2016. The potential implementation of this proposal would coincide with the November 2016 Semi-Annual Index Review.


    - Ends -


    About MSCI


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    Business Wire India

    QNB Group, a leading financial institution in the Middle East and Africa, announced, that it has completed the acquisition of 99.81% stake in Finansbank A.Ş. in Turkey.


    This Smart News Release features multimedia. View the full release here:

    QNB Group HQ Building in Doha (Photo: ME NewsWire)

    QNB Group HQ Building in Doha (Photo: ME NewsWire)

    This transaction is a significant milestone in QNB Group’s strategy of international expansion. With the addition of Turkey as a new market and one of the leading Turkish banks to its network, QNB Group further extends its international presence and will be able to increasingly benefit from the rapid development of trade and the strengthening of economic ties between Turkey and the Middle East in general, as well as between Qatar and Turkey in particular. This also reflects QNB Group’s confidence in the long-term prospects of the financial sector and economy of Turkey.


    Finansbank is the 5th largest privately owned universal bank in Turkey by total assets, customer deposits and loans. The bank has organically grown into a leading financial institution with a proven and experienced management team. With a nationwide distribution network of over 620 branches and more than 12 thousand employees, it has more than 5.3 million active customers. As of 31 March 2016, Finansbank has US$32.0 billion of assets, US$21.8 billion in loans and US$17.3 billion in deposits and total equity amounted to US$3.8 billion as per International Financial Reporting Standards.


    QNB Group’s Chief Executive Officer Ali Ahmed Al-Kuwari stated:


    “This transaction is a breakthrough in QNB’s vision to becoming a Middle Eastern and African Icon by 2017. Our strategy is to focus on high-growth markets where we see a competitive advantage. Turkey, with its significant market size, population, growth track record, strong economic and banking sector and strategic location as a gateway between Europe, Asia and Africa, represents such a market. We are very excited to be part of Turkey’s and Finansbank’s future development and further enhancing the overall connectivity with international markets and bring Finansbank to the next level as part of the QNB Group.”


    QNB Group currently owns 99.81% of Finansbank and will launch a Mandatory Tender Offer (MTO) in Turkey for the remaining 0.19%.


    Also commenting on the acquisition, Ömer Aras, the Chairman and Group CEO of Finansbank said:


    “The acquisition signifies a thrilling milestone for Finansbank. We are extremely excited to enter into a new era and be part of the QNB Group, and this deal represents a perfect proof of Finansbank’s excellence and globally acknowledged standards. We believe that this acquisition will allow us to take Finansbank to a new level and offer exceptional services for our customers and stakeholders through the large international QNB network which we are now part of.”


    QNB Group has steadily grown to be the biggest bank in Qatar and a leading financial institution in the Middle East and Africa region. It is considered the most valuable banking brand in the Middle East and Africa and is the highest rated bank among the international banks operating in Turkey.


    The Group’s presence with the recent inclusion of Finansbank now spans more than 30 countries across three continents providing a comprehensive range of advanced products and services. The total number of employees is more than 27,300 operating through more than 1,200 locations, with an ATM network of more than 4,300 machines.


    For more information about QNB Group, please visit:


    Finansbank A.Ş – Turkey


    Finansbank, established in Turkey in 1987, is a subsidiary of QNB, and is one of the 5th largest private banks operating in the country. Finansbank serves more than 5.3 million customers through more than 12,000 banking professionals. Finansbank operates through a large corporate and retail platform complemented by ancillary services including investment banking, brokerage, leasing, factoring and asset management. Finansbank has over 620 branches, covering 71 out of 81 cities of Turkey.


    *Source: ME NewsWire





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