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    Business Wire India

    • First Bank to introduce augmented reality technology innovation, offering interactive and engaging way of navigating the banking solutions
    • AR view incorporated in the ‘Near Me’ functionality, is available to all individuals who download the Axis Mobile App.
     
    Axis Bank, India’s third largest private sector bank announced the roll out of Augmented Reality (AR) feature on its Mobile App. The feature enables users of the Axis mobile app to conveniently locate and navigate to the nearest Axis Bank ATMs, Branches, preapproved residential properties and many more, on a real-time basis.
     
    The ‘Near Me’ section is available in the pre-login module of Axis Mobile app, thereby making it accessible for use by anybody who downloads the app. Users of the mobile app can view actual streets in a 360degree mode, through their mobile phone camera, anywhere in the country. The details of the location / venue will pop-up on the mobile screen as the user moves around the streets. In addition to the AR feature, the bank offers a bouquet of services like pre login bill payments that helps customers save time while paying electricity, mobile bills and recharging DTH services.
     
    Speaking on the occasion, Mr. Amit Sethi, President and Chief Information Officer, Axis Bank said, “New technology is truly making banking convenient, simple and delightful. Our AR feature, ‘Near Me’, helps users to easily identify not just ATMs & Branches, but also restaurants, pre-approved properties and much more on the go. We are confident that this technology in Banking will be highly accepted by a large customer base. We look forward to alliances with more merchant partners for special deals and services based on customer preferences.’’
     
    The following services offered by the Bank, on its ‘Near Me’ module:
     
    1. ATMs & Branches: Helps in easily locating and navigating to the nearest Axis Bank ATMs & Branches.
     
    2. Dining Delights: Helps in identifying the nearby restaurants which are under the Bank’s Dining Delights program. These restaurants offer discounts (minimum 15%) for Axis Bank Debit and Credit Cards.
     
    3. Pay with eDGE Rewards:  Locates nearby stores where Axis Bank Credit Card holders can pay with the eDGE loyalty points accumulated by them.
     
    4. Pre-approved Properties: Locates all the nearby properties that have been preapproved by the Bank.
     
    5. Sunday Brunch: Locates nearby restaurants under the Bank’s Sunday Brunch programme.
     
    About Axis Bank:
     
    Axis Bank is the third largest private sector bank in India. Axis Bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.

    With its 3,006 domestic branches (including extension counters) and 12,871 ATMs across the country, as on 30th June 2016, the network of Axis Bank spreads across 1,855 centres, enabling the Bank to reach out to a large cross-section of customers with an array of products and services. The Bank also has nine overseas offices with branches at Singapore, Hong Kong, Dubai (at the DIFC), Shanghai and Colombo; representative offices at Dubai, Abu Dhabi and Dhaka and an overseas subsidiary at London, UK. The Bank’s website www.axisbank.com offers comprehensive details about its products and services.

    Photo Caption: Screenshots of Augmented Reality (AR) view

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    Business Wire India

    • Partners with Amazon Internet Services Private Limited (AISPL), the India affiliate of Seattle-headquartered Amazon Web Services, Inc. (AWS) to create a start-up hub at the Thought Factory, to jointly contribute to the development of the Start-up community in India
    • Collaborates with Oversea-Chinese Banking Corporation Limited’s (OCBC Bank) FinTech unit, ‘The Open Vault at OCBC’ for knowledge sharing and mentorship to Start-ups
    • Collaborates with Visa towards co-creation of market first digital commerce solutions; to mentor start-ups and provide a platform to drive innovation in payments 
    ​​

    In a bid to accelerate technology-led innovation in the BFSI sector, Thought Factory, Axis Bank’s Innovation Lab, today entered into a strategic collaboration with AISPL, the India affiliate of Seattle - headquartered AWS, and Singapore - headquartered Oversea-Chinese Banking Corporation Limited (OCBC) bank, to provide a global platform to the Indian start-up community to consistently innovate in the Fintech domain.

    Speaking on the occasion, Rajiv Anand, Executive Director, Axis Bank said: “Our Thought Factory in Bengaluru is equipped with state of the art infrastructure and technology designed to foster entrepreneurship and innovation in Banking & beyond. We are happy to collaborate with Global Financial and Technology companies to create a vibrant ecosystem of Banks, startups & tech innovators. Our first batch of startups, due to join in September, will build interesting use cases for AI, Blockchain, Big Data Analytics, robotics and much more that can take Consumer Banking to the next level.”

    The Bank is collaborating with AISPL to contribute to the development of the startup community in India. Startups at Thought Factory will have access to an “Ask an Architect” counter managed by AISPL solution architects, where startups can get in-person answers to their AWS-related technical questions – at no cost. AISPL will also host events at Thought Factory for further engagement with startups. 

    “We are excited to partner with Axis Bank on the Thought Factory ‘Social’ and we see this as an opportunity to further promote the startup ecosystem by hosting interesting startup events, thought leadership talks, boot camps, start-up pitches, etc. Start-ups will also get to benefit from regular architecture review and Ask-an-architect sessions to improve their technology stack implementation", said Bikram Bedi, Managing Director, AISPL, India.

    Collaboration with OCBC's FinTech Accelerator Program, ‘The Open Vault at OCBC’ will drive innovation in Asia through creating the desired ecosystem for the start-up communities in India and Singapore. Both the banks have collaborated to offer mentorship to the Start-ups and share research and findings that will drive innovation in Banking.

    Through a unique partnership, Thought Factory & Visa,  will work towards co-creation of innovative digital commerce solutions leveraging Visa’s suite of products and services. Visa will also make available the Visa Developer platform that provides open access to its payment capabilities to startups signed up under Thought Factory.

    About Axis Bank:

    Axis Bank is the third largest private sector bank in India. Axis Bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.

    With its 3,006 domestic branches (including extension counters) and 12,871 ATMs across the country, as on 30th June 2016, the network of Axis Bank spreads across 1,855 centres, enabling the Bank to reach out to a large cross-section of customers with an array of products and services. The Bank also has nine overseas offices with branches at Singapore, Hong Kong, Dubai (at the DIFC), Shanghai and Colombo; representative offices at Dubai, Abu Dhabi and Dhaka and an overseas subsidiary at London, UK. The Bank’s website www.axisbank.com offers comprehensive details about its products and services.
     
    About The Open Vault at OCBC:

    OCBC Bank launched The Open Vault at OCBC in February 2016, to strategically collaborate with FinTechs to develop meaningful financial solutions through open innovation. Housed in a specially-created 2,400 square foot space on New Bridge Road in Singapore, FinTech start-ups work with in-house OCBC Bank experts – programmers, application developers, credit risk management specialists, data analytics experts, wealth management advisors and legal advisors, who have a deep understanding of banking rules and regulations, processes, practices and customer behaviours – to employ OCBC Bank’s data sandbox and application programme interfaces (APIs) to bring innovative solutions quickly to the market.

    The Open Vault at OCBC is focused on opening OCBC Bank’s doors to external innovation and ideas, and connecting with the FinTech eco-system to spot potential solutions to create innovative solutions for customers and employees. It is the ‘nerve centre’ for OCBC Bank’s innovations, driving collaborations with the FinTech ecosystem, ‘sandboxing’ new ideas with real customer data, and commercialising winning prototypes.

    www.theopenvaultatocbc.com


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    Business Wire India

    OT (Oberthur Technologies), a leading global provider of embedded security software products and services, announces that its embedded Secure Element, PEARL by OT®, is the first eSE worldwide to be certified by Visa, MasterCard and Amex for biometric-compliant payment applets (VISA VMPA v1.4, MasterCard MCM v1.1 and AMEX v2.0), as well as by OSPT Alliance (CIPURSE™ V2) for urban transport applications and value added services. With these new certifications granted to PEARL 800K Classic v4, OT confirms the position of PEARL by OT® as the most advanced multi-application eSE on the market.

     

    Launched in January 2016, PEARL 800K Classic v4 adds to the family of PEARL by OT® already deployed worldwide in 225Mu+ flagship smartphones. PEARL by OT® offers an unattained level of biometric-compliant certified applications, the largest memory on the market and the latest NFC application for urban mobility services: CIPURSE V2. It enables smarphone makers to deploy new contactless services certified by key payment schemes worldwide and transport authorities of the largest cities in the world. This unique multi-application platform also supports access control, biometrics, secure storage use-cases and value added services.

     

    With the growing trend of smartphones being used as payment devices, storing and processing sensitive biometric data, or improving the urban mobility experience, increasing concerns regarding users’ authentication, data protection and privacy are arising. And smartphones are only the first wave of connected objects to be secured. To be effective, security systems must be embedded within connected objects and equipment. PEARL by OT® is designed to protect credentials and data applications against software and hardware attacks and is continuously upgraded to answer the needs of Original Equipment Manufacturers and their service partners.

     

    All the newly certified applications are now being deployed in currently issued PEARL 800K Classic v4 and can also be remotely downloaded to PEARL 800K Classic v4 eSE already on the field. The latest Visa, MasterCard and Amex applets allow the replacement of PIN by fingerprint verification, which provides a more convenient user-experience for contactless payments. For urban transport use cases, the CIPURSETM-certified stamp ensures the interoperability with the infrastructures which have already adopted CIPURSETM in major cities.

     

    “These 4 new certifications confirm the advanced security level of the PEARL by OT® eSE and OT’s capabilities in issuing new innovative products matching the stringent requirements of worldwide payment schemes and transport operators required to deploy user-friendly NFC services.OT has longstanding relationships with the schemes and has developed a strong expertise in such secure applets.” said Marek Juda, Managing Director of the Connected Device Makers activity at OT.

     

    ABOUT OBERTHUR TECHNOLOGIES

     

    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 140 countries. For more information: www.oberthur.com

     

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

     

    www.oberthur.com/themworld

     

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    Business Wire India

    MetLife, Inc. (NYSE: MET) a leading global provider of insurance, annuities and employee benefit programs, announced that it has been recognized with awards in two categories in The 13th Annual International Business Awards.

     
    Category   Award   Country/Region/Product
    Best New Product or Service of the Year - Financial Services   Gold Stevie® Winner   MetLife Asia: Empowering Women in Asia to Live Healthy and Beautiful Lives
    Most Innovative Company of the Year - in Asia, Australia and New Zealand   Bronze Stevie® Winner   MetLife Asia: Driving Regional Innovation through the Optimization of Customer-Centric Intelligence and Analytics

    The Award for Best New Product or Service of the Year went to MetLife Asia’s first lifestyle and health plan for women, named BEAUTIFUL. First launched in June 2015, the product was designed to address the needs of the fast-growing 30 to 50 year old female segment and empower them to lead beautiful and healthy lives, as well as providing financial security and protection in case of illness.

     

    “BEAUTIFUL is a life-enhancing product designed specifically to help women improve their health and lifestyle through fitness, nutrition and beauty benefits, as well as providing the trusted navigation of a health concierge and health recovery service when illness strikes,” said Ralph Brunner, Chief Marketing Officer, MetLife Asia. “We had developed the product after carefully listening and responding to the needs, wants, fears and aspirations of women across Asia. We are delighted to receive this award.”

     

    Related to the Award forthe Most Innovative Company of the Year - in Asia, Australia and New Zealand, MetLife Asia was recognized for having launched two key projects that foster and promote innovation. The first was the establishment of its Center of Excellence for Data Analytics (COEDA) in 2014 to transform big data into customer insights, deliver a more holistic customer experience, and drive improvements to business performance. LumenLab was the second project; a Singapore based innovation space that develops, prototypes and tests new business models, actively seeking to disrupt and go beyond the status quo. The center fosters a culture of innovation within MetLife in more than 10 countries across the region and creates new businesses that address Asian consumers’ needs in health, ageing, and wealth management.

     

    The International Business Awards are the world’s premier business awards program. All individuals and organizations worldwide – public and private, for-profit and non-profit, large and small - are eligible to submit nominations. The 2016 IBAs received entries from more than 60 nations and territories. Nicknamed the Stevies for the Greek word for “crowned,” the awards will be presented to winners at a gala awards banquet at the Rome Cavalieri Waldorf Astoria Hotel in Rome, Italy on 21 October.

     

    About MetLife

     

    MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the largest life insurance companies in the world. Founded in 1868, MetLife is a global provider of life insurance, annuities, employee benefits and asset management. Serving approximately 100 million customers, MetLife has operations in nearly 50 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.

     

    About the Stevie Awards

     

    Stevie Awards are conferred in seven programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, The American Business Awards, The International Business Awards, the Stevie Awards for Women in Business, the Stevie Awards for Great Employers, and the Stevie Awards for Sales & Customer Service. Stevie Awards competitions receive more than 10,000 nominations each year from organizations in more than 60 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at www.StevieAwards.com.

     

     

     

     

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    Business Wire IndiaLetzbank.com, is a web portal providing its users, access to best loan offers. Its user-friendly search tools has not only caught the eye of the tech generation, but has also become their must go zone for all matters concerning any kind of loans, insurance, credit bureau reports etc, for free of cost.
     

    It’s so simple and additive that visitors may be prompted to join the thousands and thousands of educated busy professionals to bookmark Letzbank.com and visit it time and again to see the offers from all the banks and non-banks in a single view.
     
    Letzbank’s landing webpage of is all one needs to solve any of your loan needs of a wide variety of banks. In fact there’s a handy side by side comparison of all the offers of most banks and financial institutions in the country for any visitor to pick and choose the best deal on offer. What this reveals, is that the visitor will instantly know of all fees, charges, interest rates, foreclosure charges etc., at one glance. What’s more, their charges are completely free of charge!
     
    This new landing page is gaining a lot of followers not only for the loans and insurance products on offer, but also a dedicated section for knowing the “Offers” from across banks, non-banks and mobile wallets. This section will give you details of the cash back offers, reward points, promotions, discounts etc., on Debit Cards, Credit Cards and Mobile wallets. Until now, customers could only know about the offers of a particular bank at a time, but not anymore, letzbank.com has made it simple by compiling a comprehensive list of all the ongoing offers of all banks, so people can pick the one that suits their need the best.
     
    Loan seekers need can also generate a “Free of Cost” credit bureau report by logging into letzbank.com to see their credit history before they even approach a bank for loan. Further, if the user finds an issue in the credit report, letzbank.com through its credit report repair service partner will assist the customer to resolve the issue in the report.
     
    Throwing more light on the extreme ease of use of the simplified landing page of the bank, the Chief Executive Officer of Letzbank.com Mr. Tagorji Yerneni said, “It is extremely important that we listen to our customers and change with the times, and this major simplification of the website is a result of us listening to our customer’s needs… and we’ve got a lot of feedback that the new page gives a lot of information at once glance. It is so easy now to not only find the best offers on loans, insurance and other personal finance schemes, but also for all your insurance needs, whether it is vehicle insurance, medical insurance or even travel insurance!”
     
    “One more unique feature,” he continued, “is that Letzbank.com offers is the Digital Document Locker facility where all the paperwork you need for loans or insurance can be kept under a digital locker until you need them, no more hunting your house cupboards and workplace drawers for all the papers you need to submit for processing your loans. You can move these documents digitally on the go, with secured authentications” he said.
     
    He further said, “Even though we planned to simplify the process of searching for the best financial instrument that fits the customer’s need, with people appreciating the side by side comparison of all offers, the most popular ‘item’ has been the hundreds of offers, discounts and cashbacks on Debit cards, Credit cards and Digital wallets, with customers browsing this section almost constantly, through the night well into the early morning hours! We thank our customers and ask all those who have not checked it out, to please do so. I am sure that you will bookmark us and visit us every now and then. It is that easy to use.”
     
    The following are the offers in detail:
     

    • Everyone likes rewards and appreciation, especially for spending their hard-earned cash. Most Credit, Debit card and Mobile Wallet issuers offer a lot of rewards and discounts to their customers, but most of them are not seen by customers in a single click. Letzbank.com’s Offers page lists out almost all the offers from banks, presently in vogue. Customers will indeed be surprised at the number of offers available from time to time. If used in a judicious manner, card users can save, gain and maximize benefits by a combination of cashbacks, rewards, discounts, promos etc.
     
    Loans: While most of their customers search for Home loans and Car loans, Letzbank.com also offers a whole plethora of loans covering the whole spectrum, to satisfy every need of every customer – be it a salaried individual, professional or a businessman. Apart from the aforementioned, letzbank.com also offers Personal loans, Professional loans, Gold loans, Loans against property, Loans against security, Educational loans etc., for the professionals, and specific loans like Business loans, Construction equipment loans, commercial vehicle loans, Farm equipment loans etc., for the self-employed.All the information is presented to the customer in an easy to understand way. The website provides even the information that others may not reveal: Charges like Processing fee, Document charges, Fore-closure charges, Part payment charges etc., are prominently displayed for customers take an informed decision.
     
    • When you take a loan from Letzbank.com, for example, a Car loan, there’s no need to go elsewhere to take an insurance for the car. The bank has tie-ups with all major insurance companies, with whom customers can get their vehicle insured. The easy part here is, if you sign up for their Digital Document Locker facility, you need not even bother about the initial paperwork for the insurance, as the bank will forward the already cleared paperwork to the insurance company. What’s more, customers can avail insurance products like Life insurance, Health insurance, Travel insurance etc., with ease. Renewals will be auto triggered to remind the client on the renewal date.
     
    Personal finance and Management:Stretching the 360 degree financial planning partner idea to a different level, Letzbank offers a cheaper way to find out you Credit Score, before you apply for any loan, to not only save on money and time, but also blushes! Taking it a step further, the bank also has an easy way to pay your taxes, by simplifying the process of e-filing your returns.
     
    With all these innovative steps to simplify the way people bank, Letzbank.com has made in-roads into people’s lives, and is poised to make a mark all over the country.
     
    Do visit www.letzbank.com, if you haven’t already and have a taste of the joy that thousands have already experienced dealing with banking. A true 360 degree financial planning partner for every Indian.

    Photo Caption: Find best loan offers from different banks in letzbank –Search, Compare and Apply

     

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    Business Wire India

    OT (Oberthur Technologies), a leading global provider of embedded security software products and services, strengthens its leading position in the payment field by introducing its “Flybuy” range of new innovative wearable options for seamless payment on the go.

     

    This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20160830005587/en/

     
    OT introduces Flybuy, a complete range of wearable options enabling secure payment on the go (Graphi ...

    OT introduces Flybuy, a complete range of wearable options enabling secure payment on the go (Graphic: Business Wire)

    According to IHS Technology, the number of wearable devices used for payments is projected to increase from 10 million units in 2015 to over 150 million units in 2020. As a pioneer in this market with the first payment sticker and keyrings, OT has been very active working with banks, processors and partners to propose a comprehensive range of wearable options:

     
    • Flybuy Mini Fob is a very small (SIM-size 15x25mm) contactless card including a boosted antenna that can be inserted into a silicone or leather wristband, a key chain or special pieces added to fitness trackers or watches. FlyBuy Mini Fob makes it possible to add contactless payment functionality to various existing objects.
    • Flybuy Secure Element is intended for OEMs to be embedded into watches or fitness bands directly at the manufacturing stage.
    • FlyBuy Wearables can be positioned either as a companion extension to the existing payment card or as a stand-alone prepaid option. In both cases, their settings can be easily managed by a mobile app. They can be used for payment, but also for public transport and access control to corporate premises, fitness centers or music/sports events for example.
     

    The global market of wearables is nascent and has huge growth potential over the coming years. With its leading position in the payment field, OT is a key and trusted partner to offer wearable payment solutions thanks to its comprehensive portfolio of products which can answer a full range of customer requirements” said Cedric Collomb, Head of Global Offer & Indirect Sales for OT’s Financial Services Institutions business.

     

    ABOUT OBERTHUR TECHNOLOGIES
    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: www.oberthur.com

     

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    All you need to know about the latest trends of the Mobility world, available on AppStore and Google Play
    www.oberthur.com/themworld

     

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    MULTIMEDIA AVAILABLE :
    http://www.businesswire.com/news/home/20160830005587/en/

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    Business Wire IndiaEasypolicy (www.easypolicy.com), the most inclusive and fastest growing online insurance aggregator in India today announced the launch of its two wheeler insurance policy for customers in tier II and III cities and towns in India.
     
    This new offering is part of the company’s vision of taking insurance distribution to untapped geographic and demographic markets by marrying the seamless ease and reach of technology with the zeal of service providers in tier II and III cities and towns in India.
     
    Commenting on the launch of the new policy, Alok Bhatnagar, Co-Founder and CEO, Easypolicy.com said, “Two wheelers across India continue to get added at an average rate of 15 lakhs new vehicles every month. Ironically, only close to 20% two wheelers are currently insured and this continues to remain a serious cause of concern for our industry, given the fact that the largest number of deaths happen due to two wheeler accidents. Just as is the case with four wheelers, the Indian laws have also made it mandatory for every two wheeler to have an insurance cover. A recent hike in penalty for not keeping a two wheeler insured to Rs.2000 is likely to act as a big catalyst for growth in the category.”
     
    “We have trained close to two lakhs ground level partners in tier II and III cities and towns in India on how to use our online platform and mobile app in connecting with their set of audience in the remotest part of the country. Our partners will use our online platform to empower customers to buy or renew their two wheeler plans as per their convenience, anywhere and anytime. We believe this will significantly reduce the number of cases wherein customers often forget to renew their two wheeler policies on time,” said Divyanshu Tripathi, Co-Founder and COO, Easypolicy.com.
     
    Divyanshu added, "The youth in leading metros and growing cities in India is highly receptive to on-demand, convenient and uninterrupted access to insurance services. Globally, India is not just one of the leading markets for two wheelers but is also the fastest growing in terms of internet penetration. Our latest insurance product has been created to leverage this unique opportunity. The policy offers comprehensive coverage for two wheelers including damage to third party property and life."
     
    Under the policy, customers will be able to buy their two wheeler insurance or renew their existing two wheeler policy on the company’s online platform. Other features of the policy include liability for third party death, injury claims and indemnity for third party property damage up to a limit of Rs. 1 lakh. The policy also offers personal accident cover up to Rs. 2 lakh at an additional premium.
     
    “We are confident of selling over 10 lakhs two wheeler insurance policies by the end of the current financial year,” said Divyanshu.
     
    About Easypolicy.com
     
    Founded in 2011, Easypolicy.com is owned by Easypolicy Insurance Web Aggregators Pvt. Ltd, an IRDA licensed insurance distribution company. The company’s core leadership team comprises of a former Thomson Reuters executive, Alok Bhatnagar, Neeraj Aggarwala and Divyanshu Tripathi, an erstwhile founding member of PolicyBazaar. Easypolicy compares and sells insurance plans in life and non-life categories across insurers.
     
    Easypolicy.com has been created with a vision to provide transparent and top-notch services through technology to simplify, advise, inform, educate and to make insurance more accessible and available across India. Within a brief journey of 5 years, Easypolicy has successfully managed to reach out to insurance seekers residing in the far corners of the country, as well as promptly service customers in the thriving metros.
     
    The company raised $2.2 million in funding led by media entrepreneur Ronnie Screwvala’s Unilazer Ventures in January 2016. Apart from Unilazer, the company has also received funding from Anil Jain, Founder and Managing Director of Refex Energy and Gaurav Burman, from the Burman Family Office, the investment arm of the Burman family, promoters of fast-moving consumer group conglomerate Dabur India.
     

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    Business Wire IndiaFIME was selected as the empanelled certification agency for the Bharat Bill Payment System (BBPS), an integrated bill payment system offering interoperable and accessible bill payment services to customers, both online and offline, in India. The system works through a network of agents, enabling multiple payment modes, and providing instant confirmation of payment. The BBPS project crossed a seminal milestone with the pilot launch on 31 August 2016 at the MCA Recreation Centre, Bandra Kurla Complex in Mumbai, which was inaugurated by Shri R. Gandhi, Deputy Governor, Reserve Bank of India.
     
    BBPS is a centralized payment system that will allow customers to use a single website or outlet to pay recurring bills, such as phone and electricity bills. The system accepts multiple modes of payments such as net banking, credit cards, debit cards, e-wallets and cash, in offline mode, and provides instant confirmation of payments.
     
    “We are proud to be at the heart of India’s move towards integrated bill payments, and ensure the interoperability, security and reliability of the system,” comments Prakash Sambandam, Vice President – South-East Asia at FIME. “We believe BBPS offers an efficient and cost-effective alternative to existing systems, and will go a long way in providing greater convenience and enhancing the consumer experience.”
     
    For more information on how FIME can support your projects, please contact your local FIME office.
     
    About FIME
     
    FIME offers comprehensive consulting services, technical training, technology design, test tools and certification testing across the financial services, telecom, transit and identity sectors. Its experts support projects from start to finish, resolving the technical challenges its customers face when implementing a complete portfolio of specifications, standards and multi-brand industry requirements.
     
    FIME speaks the language of its customers and uses its 20+ years of experience to ensure that card and mobile transactions services are implemented efficiently and successfully. It supports a range of technologies including contact, contactless, EMV chip, near field communication (NFC), host card emulation (HCE), tokenization, secure element (SE), machine to machine (M2M), internet of things (IoT) and trusted execution environment (TEE).
     
    Partnering with the international and national payment schemes, and industry bodies, FIME ensures its multi-brand offering is always aligned with the latest market requirements.
     
    www.fime.com | Twitter | LinkedIn | YouTube

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    Business Wire India

    Hong-Kong based private equity firm NewQuest Capital Partners (“NewQuest”) has acquired Integreon, Inc. (“Integreon” or “the “Company”), a global market leader in legal, document, business and research outsourcing, from LiveIt Investments Limited and Actis. The Company was acquired for an undisclosed amount.

     

    Commenting on today’s announcement, Amit Gupta, Partner and COO at NewQuest, said: “The Integreon transaction is an exciting opportunity to invest in a global leader with attractive growth prospects. Over the past few years, the business has achieved an exceptional market position and is poised to take advantage of its long-standing strong client relationships, its global delivery platforms, and deep experience in working with professional clientele. Integreon fits with NewQuest’s strategy of investing in world-class companies where significant growth can be achieved with additional investments. We look forward to working with the management team to support the business in its next phase of its growth and development."

     

    Robert Gogel, Chief Executive Officer of Integreon, added: "Companies and law firms around the world are increasingly recognizing the value of outsourcing of non-core services. We look forward to working with NewQuest to continue growing Integreon's worldwide presence."

     

    About Integreon

     

    Integreon is a trusted, global provider of award-winning legal, document, business and research support (aka Grail Research) solutions to leading law firms, corporate legal departments, corporate marketing and strategy groups, financial institutions and professional services firms. Around the globe, Integreon’s 2,400 Associates support more than 250 clients in areas such as market and competitive intelligence, discovery, legal process outsourcing (LPO), operating model transformation and back office redesign. Integreon also excels in business support services such as IT, document processing, finance and HR. With its unrivalled outsourcing experience and industry-leading onshore and offshore capabilities, clients increasingly rely on Integreon to provide value-added solutions that meet their needs in a demanding business environment. Integreon has won more than 50 industry awards in recent years and supports its global client base from 14 delivery centers across the US, UK, India, China, Philippines and South Africa.

     

    About NewQuest

     

    Established in 2011, NewQuest is Asia’s leading secondaries private equity platform. The firm specializes in providing bespoke liquidity alternatives to private equity investors with investments in emerging Asia, particularly China, India and South East Asia. Over the past five years, NewQuest has raised three funds with aggregate capital commitments of over US$1.25 billion, having acquired positions in over 40 companies. For more information, please visit www.nqcap.com.

     

    Enquiries:

     

    Integreon For more information about Integreon’s extensive range of services, please visit www.integreon.com and follow Integreon on social media at LinkedInTwitterFacebook, and Weibo.

     

     

     

     

     

     

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    Business Wire IndiaFestivals in India are times when one looks to add positivity to their lives and homes. With Diwali just around the corner, many have already begun the customary clean, renovate, and decorate your home ritual. Are you looking to renovate your home before this festive season too, but the high renovation costs are stopping you? It isn’t that difficult any more as Bajaj Finserv’s lending arm, Bajaj Finance Limited, now offers instant Personal Loans for home renovation.
     
    Getting a Home Renovation Loan
     
    To remodel your home, it is a good idea to take a Personal Loan for home renovation which has various advantages:

    • You get a lump sum amount of cash to fund your expenses
    • Use the loan amount for repairs, furnishing, painting, electrical work, or flooring
    • The documentation is simple and hassle-free
    • Repayment is through monthly instalments

    Getting a Personal Loan for home renovation from Bajaj Finserv is simple and easy. All you need to do is log onto the company websites’ relevant section, fill an online form and within 60 seconds, get approval on your application. It’s as simple as 1, 2 and 3.

    Before You Apply for Loan

    There’s a checklist of to do’s before you apply for a loan to renovate or redo your house. It is important to follow these so as to ensure the right amount of loan has been sought and the loan money is utilized for the right job:

    • Decide what you want to buy and then apply for a loan. This way you’ll know the exact amount to be loaned and won’t ask for an amount beyond your actual requirements
    • While shopping, remember to stay within budget and not get carried away with the excitement of getting new furnishings
    • Create a repayment strategy to pay off the loan beforehand. This will help you avoid excessive interest charges since the rate of interest for a Personal Loan is generally high
    Another reason to take a Personal Loan for home renovation from Bajaj Finserv NOW

    Bajaj Finserv has announced a flash sale on Personal Loans for home renovation on loan amounts of Rs.4 lakhs and above. The flash sale that started on 6th September will last through 11th September, 2016. As part of the ongoing flash sale, if you apply and take a home renovation loan of Rs.10 lakhs and above, you will get an iPad Mini free. On loan amounts of Rs.6 lakhs to Rs.9.9 lakhs, Bajaj Finserv is giving away airline ticket vouchers of Rs.7000, while on loan worth Rs.4 lakhs to Rs.5.99 lakhs, you will get airline ticket vouchers of Rs.5000.

    To know more please visit www.bajajfinserv.in/finance

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    Business Wire India

    Equity International (EI), Sam Zell's investment firm focused on emerging markets, announced the closing of ZEI Co-Invest 1 Fund, L.P. (ZEI Asia Fund), with $205 million of commitments. The ZEI Asia Fund is expected to co-invest alongside other capital in over $2 billion of Asian logistics real estate projects to be developed by ESR (e-Shang Redwood), an affiliate of EI.

     

    Equity International CEO Tom Heneghan commented, "This is the first Asian-focused fund in our history. It reflects the opportunities we are seeing in the region's logistics sector, particularly in Japanese warehouse assets. We are pleased to have a sophisticated institutional investor base that invests alongside EI in various vehicles to take advantage of specific marketplace opportunities, and we look forward to continuing to work with ESR to create a leading pan-Asian logistics platform."

     

    Charles de Portes, President and co-Founder of ESR stated, “We are excited to broaden our relationship with Sam Zell and EI, which has been both a very positive one and a material catalyst for growth of our Asian logistics platform since our initial partnership in 2013. We are looking forward to rapid allocation of the upsized commitment into what we believe to be one of the most substantial logistics development pipelines in Japan, focused on the largest metropolitan areas growing with continued urbanization and globalization of trade.”

     

    The closing of the ZEI Asia Fund follows other significant investment activity by EI and its affiliates this year, including:

     
    • Entering into an agreement to invest R$400 million in Estapar Estacionmentos, the largest parking and infrastructure operator in Brazil (August 2016);
    • Redwood Group’s merger with e-Shang (January 2016); and
    • Goldman Sachs investment in SAMHI (January 2016).


    "We are seeing an increased level of attractive risk-adjusted investment opportunities, particularly in Latin America, India and parts of Asia," added Heneghan. "In addition to direct investing, we are committed to stewarding our portfolio companies to create strong growth platforms."

     

    Since 2012, EI and its affiliates have raised over $2.4 billion of equity and have invested more than $1.5 billion.

     

    About Equity International

     

    Equity International (EI), founded by Sam Zell in 1999, invests in real estate and infrastructure platforms in the emerging markets. EI’s investment and value go beyond its capital by providing its portfolio companies with: institutional credibility, exceptional corporate governance, best practices, a unique operating perspective, and access to a powerful global network. EI employs an active ownership approach, partnering with portfolio company leadership to achieve strategic growth and industry leadership. As a result, EI is recognized as a partner of choice around the world. Web: http://www.equityinternational.com

     

    About e-Shang Redwood

     

    e-Shang Redwood (“ESR”) brings together two of the leading developers, owners and operators of logistics real estate in Asia and represents one of the largest logistics real estate platforms in the region with over 3.5 million square meters of projects owned and under development across China, Japan and South Korea, and capital and funds management offices in Hong Kong and Singapore.

     

    Founded in 2006 and 2011, respectively, Redwood and e-Shang merged in 2016 to form ESR and are backed by some of the worlds’ preeminent investors including APG, Warburg Pincus, Equity International, PGGM, CPPIB, PAG, Morgan Stanley, CBRE and Goldman Sachs. Today, ESR has one of the largest development pipelines in Asia focused on the key metropolitan areas most closely tied with consumption and globalization of trade. ESR is also the largest third-party landlord for the leading e-commerce companies in China, as well as for cold-chain logistics.

     

     

     

     

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    Business Wire IndiaCelebration turns your worn-out routine into joyful moments. Now get ready to celebrate the precious moments with your dear ones. UAE Exchange India, the leading financial institution has launched a new gold loan offer for the loyal customers in this special festive season.

    Get more value for your gold at 4 paise interest in the much-awaited festival moments. The exclusive gold loan offer will be valid from 1st September to 30th October 2016. Customers can avail gold loan service at 4 paisa interest during the offer period from any branches of UAE Exchange India. Avail the best offer to make your Onam, Ganesh Chaturthi, Diwali and Navratri more colourful. Leave your worries and have a good time with your family.

    Mr. V George Antony, Managing Director UAE Exchange shares, “Our new gold loan scheme intends to help the customers avail easy gold loan at low interest rates. It’s a part of our customer centric service and an endeavour to expand our gold loan services across nation through both online and offline modes.”

    Under the new gold loan scheme, customers can get an instant gold loan without much documentation. Quick sanction and disbursal, easy documentation and easy repayment options are the attractive features of hassle free gold loan service from UAE Exchange India. The exclusive offer will be a great assistance to meet the rising needs of existing as well as new customers in this festive occasion. Why to worry about your urgent requirement when you have enough jewellery to use?

    For more details, call 1800 3000 1555, send your concerns to mail.us@uaeexchange.co.in

    About UAE Exchange India
     
    UAE Exchange India has a wider presence of 378 locations spread across the nation, giving the company an opportunity to serve the populace with its versatile financial products like Foreign Exchange, Travel & Ticketing, Money Transfer, Loans, Insurance and online trading, the company caters to the needs of customer for smarter financial life style. As the largest financial service provider with more than a decade of excellence, we stand for the customers in building their trust and confidence in us.

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    Business Wire IndiaLeading forex broker Exness is pleased to announce that its UK entity, Exness Europe Limited, has received regulatory approval from the Financial Conduct Authority (FCA), under Register number 730729.

    With its newly acquired FCA license, Exness, an international broker whose main client base is currently in Asia, the Middle East, and Africa, is set on expanding its global reach in Europe. "This is a very important milestone in the global expansion of the group and reinforces Exness' unwavering commitment to adhere by the highest international regulatory standards and to protect its clients' best interests", commented David MorrisCEO of Exness Europe Limited. "There is currently an ever-growing scrutiny from regulators in the forex & CFD industry; Exness embraces this and sees it as fundamental to both the success and longevity of the industry."

    Exness Europe Limited is expected to launch its operations by the end of 2016, building on Exness' already-extensive client base, entering new regions, and providing the opportunity to new clients to benefit from its superior customer service, pricing, and technology. Beyond just B2C plans, Exness Europe Limited is also looking into B2B opportunities and will be working closely with other businesses that wish to leverage on Exness' first-class technology and systems.

    In addition to the newly-acquired FCA license, Exness is authorized and regulated by CySEC, and complies with the standards of the European Markets in Financial Instruments Directive (MiFID), ensuring financial transparency and effective client protection. Additionally, as a pioneer of the transparency advocacy in the forex market, Exness initiated the regular publication of, and continues to publish, third-party verified performance indicators and auditors reports on financial performance.
     
    About Exness

    Exness Group is an international, award-winning retail forex broker founded by a group of like-minded finance and IT professionals in 2008. With a deep understanding of traders' needs, the modern forex company provides accessible, stable, and reliable brokerage services, boasting excellent execution and some of the tightest spreads in the market today. As confirmed by Deloitte, Exness Group recorded a trading volume exceeding USD 2.3 trillion in 2015, with June setting its new monthly record at USD 232 billion.

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    Business Wire IndiaFinvasia closed a funding deal for an undisclosed amount against a valuation of INR 1.5 Billion from some of the industry’s notable Venture Capitalists, where majority FDI stake is from Intrinsic Investment Limited. The company envisions to create a technologically driven commission free financial ecosystem in India by taking the middleman out of an average investor’s portfolio.

    Finvasia believes that with the price war is sharpening amongst brokers and there is an increasing need to create a technologically driven ecosystem in the country’s financial space. The company is going to launch 12 products over the course of next 24 months to usher the changes that they have envisioned.


    To get the ball rolling, it became the country’s first Broker that offers Brokerage Free Trading on 15th of August 2016. Finvasia offers “Life-time” commission-free trading in ALL segments on ALL exchanges. The management believes that a broker’s vested interests in churning trades to earn commissions topped by various hidden fees often kills existing investors and deters newbies from entering the market. But by eliminating brokerage and introducing artificial intelligence to trading, Finvasia hopes to eliminate the existing brokerage practices that are marring the Indian financial sector. The company is developing products which will revolutionize both the investment industry and the financial sector as a whole. Furthermore, Finvasia is eyeing expansion and is on the course of becoming a Commercial Clearing member with NSE and waiting to become a NBFC and a Depository Participant.

    Along with brokerage free trading, Finvasia introduced Instant eKYC that allows investors to open verified trading accounts in 5 minutes and begin trading within 30 minutes. With instant eKYC, a user directly enters his PAN number and Date of Birth on Finvasia website and all his information gets instantly fetched from central KRA. The user then authorises and validates the information provided by supplying the OTP that was sent to his registered phone number.

    Thereafter, KYC forms are auto generated and the user electronically signs the entire KYC document using an automated process that links KYC documents to user signatures from Aadhaar card. Finvasia’s instant eKYC process is approved by NSE, BSE, MCX and SEBI as a valid KYC process.

    Finvasia is trying to redefine what is possible within the FINTECH ecosystem and beyond. This funding is the dawn of major company milestones like:

    Robo Advisory

    Finvasia is actively providing various technology based products such as social trading platform in global markets via its associated UK Company. The company now plans to bring the same technology to India. This automated, algorithm-based portfolio management advice will allow Finvasia customers to compare their portfolios and benchmark their performance against the Finvasia community, the markets, and their peers. Robo Advisors will act as a personal digital research assistant to an investor enabling him to manage his portfolio and its risk. Evaluating risk is much easier said than done and an average investor is usually not aware of the potential pit holes in the composition of his portfolio, whether its leverage, lack of diversification or statistically counter intuitive assumptions. This is where Finvasia’s Robo Advisors will lay it out a risk management plan in a very plain and simple words that can be understood by an average investor. More details shall follow soon.

    Open Source Web Trader

    Finvasia is planning to launch an open source web trader that traders can manipulate using API’s to build platforms that can be completely customised by a trader to fit their needs. This web trader will have widgets and apps, just like the ones on smart phones, so a user can customise his trading to his needs and not be constrained to the “One Size Fit All” type of trading terminals. Additionally, the company will be introducing various Algo based trading technologies for diversified client base.

    Other Products

    Over last several years, Finvasia has been offering innovative technological solutions to both institutional as well as retail investors in developed countries. They plan on bringing all these technologically innovative products to India, in a phase manner, over next 24 months. From a technological standpoint, the company is ready, but before it introduces any financial product, they need to make sure that they are in compliance with laws of the land. Finvasia is working with financial regulators and oversight agencies to make sure that the products meet the local legal and compliance requirements of India. The company is certain that it will get the same level of response from Indian investors as it had gotten from their counterparts in developed countries.

    From the management

    “The idea – to the take the middle man out of an investor’s portfolio sprouted from an epiphany, when we realized that when it does not cost to send an email or a WhatsApp message, why  does it cost to send a trade over to the exchange. All these prompts are nothing more than data packets that travel across a network from source to destination using internet bandwidth. And, sending a trade to the exchange uses the least amount of internet bandwidth when compared with an email or a standard Facebook post. Today, an average individual has to either pay a fixed per trade charge or monthly fees, which is equivalent to paying for sending a WhatsApp message. We believe there’s something inherently wrong with that and we’re on a path to transform the typical commission based market to a technology supported investment regime” cite co-founders and brothers - Mr. Sarvjeet Singh and Mr. Natty Virk

    About Finvasia

    Finvasia is amongst India’s fastest growing FinTech Company, offering services ranging from asset management, investment banking, capital market advisory, and currency hedging to retail brokerage services. The company has advised institutional clients on their investments in fourteen countries while also acting as a one-stop shop for Foreign Portfolio Investors (FPI) who seek to make investments in the Indian markets.

    Finvasia is run by Ex-Wall St professionals with deep financial expertise, who envisioned to make affordable financial tools accessible to investors. And, the recent foreign funding has enabled the company to achieve its overarching mission to cut the cost that makes trading expensive and offer technology driven financial services to its clients.

    Finvasia is registered as a Trading Member of Multi Commodity Exchange of India (MCX Member ID: 55135, SEBI Code: INZ000020537), as a Trading Member of National Stock Exchange of India Limited (NSE Member Code: 14846, NSE (Cash): INB231484636, NSE (F&O): INF231484636, NSE (CD) INE231484636), AMFI ARN: 103331 and as a Trading Member of Bombay Stock Exchange Ltd (BSE Member ID: 4043).

    Additionally, we are registered as a Foreign Institutional Investor (FII) with Securities Exchange Board of India (SEBI FII Membership Code: INCAFD256911) and as an Investment Advisor with Securities and Exchange Commission, USA (Finvasia IARD/CRD Number: 154602 and SEC file number: 801-71707).

    Please click the given link for more information: http://finvasia.com/

    Photo Caption : Left to Right: Natty Virk (CEO, Finvasia) and Sarvjeet Singh Virk (MD, Finvasia) 

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    Business Wire IndiaFollowing their acquisition earlier this year by Vistra, IL&FS Trust Company Limited (ITCL), the largest independent Corporate Trust Services provider in India, today launched their new brand identity, as they transition into a global brand as a Vistra company.
     
    The transition to becoming an internationally recognised entity includes the renaming of IL&FS Trust Company Limited (ITCL) to Vistra ITCL (India) Limited and the unveiling of their new logo, which will take the shape of Vistra’s arrow symbol, conveying forward momentum and trust.
     
    By becoming part of the Vistra network, Vistra ITCL broadens its reach into an extensive network of 64 offices in 41 jurisdictions around the world, therefore allowing the company and its clients an opportunity to explore and harness international relationships. Moving forward, it will be business as usual for all of Vistra ITCL’s employees and clients. The company will continue to maintain their high quality service and client delivery with the complementary addition of the followings:
     

    • Services: Clients can expect a wider range of services thanks to Vistra’s global outreach and its varied service offerings
    • Promise of Quality: Clients can expect paramount service consistent with the international standards and global best practice, independent advice and effective risk management
    • Global Expertise: Access to Vistra’s worldwide network will further enhance the connectivity to international markets and services
     
    Ms. Navita Yadav, who will continue on as Managing Director & CEO of Vistra ITCL, commented on the rebranding:
    “More than two decades of hard work have allowed us to maintain significant market share in our businesses, thus preserving our position as India’s largest independent corporate trustee. Joining the globally strong Vistra came at the perfect time, as we enter the global stage, whilst continuing to offer our clients the valuable and innovative solutions they are accustomed to. It represents the promise of new and exciting beginnings for all of us as we transform into a globally accessible brand with a wider business portfolio, whilst remaining fully committed to our existing relationships and intrinsic values.”
     
    Martin Crawford, CEO of Vistra added:
    “Vistra ITCL has been a consistent market leader in India and this merging of our brands is a milestone for all of us. Our combined strengths are guaranteed to deliver more value to all clients, and create a great working atmosphere for all our employees. Vistra ITCL’s wide network of offices in six of the major Indian cities, provide a qualified and professional management team with expertise in debt markets, credit, funds and the corporate services space. This along with Vistra’s global expertise will enable us to thrive as we expand globally whilst we continue to uphold our position as the industry front-runner in India.”  
     
    Notes to Editors
     
    About Vistra ITCL (formerly IL&FS Trust Company Limited - ITCL)
     
    Vistra ITCL is one of the largest independent Corporate Trustee and Fiduciary Service Provider in India, offering Trusteeship and Fiduciary services to Infrastructure and Financial Services sector, Industry, Government agencies, Funds and UHNI. As of March 31, 2016, Vistra ITCL administered over ₹ 600,000 crores (i.e. USD 90 billion) in assets under a range of Corporate and Family Office Trusteeship services from its headquarters in Mumbai and offices in New Delhi, Bangalore, Kolkata and Chennai.
     
    Vistra ITCL’s clients include government and private sector corporations, domestic and foreign financial institutions and other entities that access debt capital and credit markets in India. Within its Corporate Trust business, Vistra ITCL nurtures in-house financial and legal expertise to deliver a full range of trusteeship and advisory services for issuers and investors.  Vistra ITCL is ahead of the curve in product innovation, risk management and development of customized solutions for the industry and market participants. Its family office services cater to the needs of global Indian families and UHNIs in the area of Structured Succession, Inter-Generational Transfer of Wealth and Family governance.

    For more information, please visit www.vistraitcl.com 
     
    About Vistra
     
    Ranked in the top four corporate service providers globally, Vistra Group is a versatile group of professionals, providing a uniquely broad range of services and solutions. Its capabilities span across company formations to trust, fiduciary and fund administration services. The Group employs over 2,500 employees in 64 offices across 41 jurisdictions. 
     
    For more information, please visit: www.vistra.com and www.oilglobal.com

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    Business Wire India

    The GSMA announced that all three mobile money providers in Madagascar – Airtel Money, mVola and Orange Money – are rolling out interoperable mobile money services across the entire country. This launch makes Madagascar the second market in Africa, following Tanzania, where all mobile money providers are making their services interoperable, allowing transactions to flow seamlessly across all mobile money providers.

     

    This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20160912005393/en/

     
    (Photo: Business Wire)

    (Photo: Business Wire)

    “The launch of interoperable mobile money services across all networks in both Madagascar and Tanzania underscores the mobile industry’s commitment to delivering life-enhancing financial services to consumers. Greater financial inclusion will empower the underserved and drive economic growth across the country,” said John Giusti, Chief Regulatory Officer, GSMA. “In Madagascar and Tanzania, there are more mobile money accounts than bank accounts. Traditional “bricks-and-mortar” banking infrastructure tends to be far from poorer communities, therefore interoperable money services will deliver significant long-term benefits to citizens, extending the range of digital financial services provided and ultimately serving as a safer and more reliable replacement for cash as a means of payment in day-to-day transactions.”

     

    Safety and Convenience

     

    More than a billion people in developing markets with no formal bank account do have access to a mobile phone. Mobile money leverages the ubiquity of the mobile phone and the extensive coverage of mobile networks to offer customers safer, more secure and convenient access to financial services.

     

    The GSMA Mobile Money programme is closely working with mobile operators and industry stakeholders to drive a robust mobile money ecosystem by providing tools and insights to help deployments scale, as well as supporting the creation of enabling regulatory environments to expand digital financial inclusion. The programme is also supporting the efforts of mobile money operators to implement interoperability of mobile money services, and to expand the digital ecosystem by facilitating the integration of third parties to mobile money schemes.

     

    Notes to Editors

     

    Unless otherwise stated, market data figures are provided from the GSMA’s own reports including the annual state of the Global Mobile Adoption Industry reports. A full copy of the most recent report can be found at: http://www.gsma.com/mobilefordevelopment/programme/mobile-money/state-of-the-industry-2015.

     

    About the GSMA

     

    The GSMA represents the interests of mobile operators worldwide, uniting nearly 800 operators with almost 300 companies in the broader mobile ecosystem, including handset and device makers, software companies, equipment providers and internet companies, as well as organisations in adjacent industry sectors. The GSMA also produces industry-leading events such as Mobile World Congress, Mobile World Congress Shanghai and the Mobile 360 Series conferences.

     

    For more information, please visit the GSMA corporate website at www.gsma.com. Follow the GSMA on Twitter: @GSMA.

     

     

     

     
    MULTIMEDIA AVAILABLE :
    http://www.businesswire.com/news/home/20160912005393/en/

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    Business Wire India

    OT (Oberthur Technologies), a leading global provider of embedded security software products and services, announces it has posted strong business and financial performance across the board for the first half 2016:

     
    • Group revenue at €546.5m, up 7.6% at constant rates driven by our FSI (Financial Services Institutions) and CAI (Citizen Access & Identity) businesses
    • Gross Margin expansion year-on-year despite FX rate impact, +45bps (+189bps in Q2)
    • Group EBITDA continues to increase to 15.4%, up 4.4% (+13.3% in Q2)

    Didier Lamouche, CEO of OT, said: “Our first half performance was very solid with improved profitability. We were particularly pleased with our very strong revenue growth demonstrating that we continue to outperform the industry and to gain market share. We were also pleased with the resilience shown by our Telecom business. We won contracts notably in the areas of Mobile Payment, Internet of Things and Identity proving that the increase in our R&D investments was well targeted. After our change in dimension in 2015, we are well-adapted to address future market challenges and opportunities.”

     

    Revenues

     

    The Group’s consolidated revenue increased by €40.4 million, or 7.6%, from €532.6 million for the first half 2015 to €573.0 million for the first half 2016 (at 2015 FX rates) excluding a negative foreign exchange impact of €26.6 million. The increase was driven primarily by a €21.1 million, or 6.6%, increase in the revenue of the Financial Services Institutions segment and to a lesser extent by a €15.5 million, or 18.3%, increase in the revenue of the Group’s Connected Devices and Identity Markets segment. Revenue in the Mobile Network Operators segment increased by €3.8 million, or 3.0%, in a highly competitive environment.

     

    FSI - Financial Services Institutions segment revenue was €340.9 million, an increase of 6.6% at constant rates. All regions are growing fast with the exception of North America due to inventory corrections and migration delays from Tier3/4 banks.

     

    However, significant migration volumes are still ahead of us and there are early signs of dual interface deployment aiming at improving customer experience. Services volume growth continues. The period also saw the launch of OT’s partnership with STET, the retail payment operator for French and European markets, and Cartes Bancaires CB Group (GIE-CB), the regulatory body for the payment card system to roll out mobile payment services for all French banks.

     

    MNO - Mobile Network Operators segment revenue was €132.1 million, an increase of 3.0% at constant rates. This was driven by an excellent performance in Latin America and North America, and LTE ramp-up across several regions (Latin America, North America and Asia). The period also saw the launch of OT’s partnership with AFSCM (Association Française du Sans Contact Mobile) to roll out NFC Services in France with the 3 major mobile operators, Bouygues Telecom, Orange and SFR.

     

    CD&IM - Revenue from the Connected Devices and Identity Markets segment stood at €100.1 million, an increase of 18.3% at constant rates. Within this segment, revenue from our CDM (Connected Device Makers) business was €40.2 million including good momentum in the Industrial & Automotive areas and a slowdown in digital TV cards.

     

    Revenue from our CAI business came in at €59.8 million, a 12% organic growth excluding one-offs with Europe remaining solid and the delivery of our Mali passport contract well in-line.

     

    EBITDA

     

    The Group’s consolidated EBITDA increased from €80.9 million in half-year year 2015 to €84.4 million in half-year 2016, a 4.4% increase and the Group’s consolidated EBITDA margin increased from 15.2% for half-year 2015 to 15.4% in the same period in 2016. The €3.5 million increase in EBITDA was driven by a €5.5 million increase from the Financial Services Institutions segment, which more than offset a €1.4 million decrease from the Mobile Network Operators segment and a €0.5m decrease from the Connected Devices and Identity Markets segment.

     

    In order to sustain business momentum in all its segments, specifically in developing remote management platforms (for the IoT and Mobile Payment spaces), introducing new products such as OT MOTIONCODETM in the FSI space, and developing a refreshed 4G-LTE OTA platform in the MNO space, the Group has continued to expand its gross research and development expenditures, which increased by €4.4 million, or 19.3%, reaching 5.0% of the Group’s consolidated revenue. After Seoul and Lodz in 2015, the Group opened two new R&D centers in France, one in Pessac for our specialist cryptography teams and the other in Sophia Antipolis for the integration of our security technologies in the automotive and mobile spaces.

     

    Operating Free Cash Flow

     

    Free Cash Flow from Operations stood at +€22.5m for the first half 2016 reflecting a seasonality effect in H1 with a low start of the year, although Q2 was a good quarter in terms of cash-flow generation (reaching 46% of EBITDA in Q2 2016). The first half 2015 had benefited from a one-off on one large contract.

     

    ABOUT OBERTHUR TECHNOLOGIES

     

    OT is a world leader in digital security solutions for the mobility space. OT has always been at the heart of mobility, from the first smart cards to the latest contactless payment technologies which equip millions of smartphones. Present in the Payment, Telecommunications and Identity markets, OT offers end-to-end solutions in the Smart Transactions, Mobile Financial Services, Machine-to-Machine, Digital Identity and Transport & Access Control fields. OT employs over 6 500 employees worldwide, including close to 700 R&D people. With more than 50 sales offices across 5 continents and 1 manufacturing hub by region, OT’s international network serves clients in 169 countries. For more information: www.oberthur.com

     

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    Business Wire India

    MetLife Foundationand Sesame Workshop, the nonprofit educational organization behind Sesame Street, announced the launch of a new multi-media initiative in Japan called “Dream, Save, Do: Financial Empowerment for Families”. The program will be implemented through Japan’s local school network and is intended to help children, and the adults in their lives, acquire healthy financial skills and behaviors. Engaging content features the Sesame Street Muppets, language for discussion, and effective strategies for spending, saving, sharing, and donating.

     

    Speaking at the launch event held today at the YouTube Space Tokyo, Sachin N. Shah, Representative Statutory Executive Officer, Chairman, and President of MetLife Japan, said, “We are proud of our global partnership with Sesame Workshop and we remain dedicated to advancing financial inclusion around the world. MetLife Japan and MetLife Foundation are committed to ensuring that families and people of all ages have access to the knowledge they need to put them on the path to financial security. We see our partnership with Sesame as a powerful way to advance our vision for financial inclusion worldwide, and to help more families prepare for a brighter, more secure future.”

     

    “Like any other form of education, the key to this initiative’s success is to start with young children,” said Jeffrey D. Dunn, President and CEO, Sesame Workshop. “Building a strong foundation in a person’s youngest years is the best way to establish positive lifelong habits. With ‘Dream, Save, Do,’ we are helping kids learn lessons with trusted friends like Elmo and Cookie Monster and incorporating financial empowerment-related activities into daily routines while facilitating important conversations between children and adults.”

     

    Over the past year, the two organizations have assembled a coalition of global and local advisors to inform content development. Financial empowerment was found to incorporate three common mindsets:

     
    • “We can do it! Having a positive attitude, including having confidence and aspirations.
    • “How can we do it?” Learning behaviors related to self-regulation and executive function (conscious control of thoughts, feelings, and actions) that can help in the setting, planning for and achieving of goals.
    • “What information do we need?” Acquiring the knowledge and information needed to achieve financial empowerment and reach one’s goals.

    Research and recommendations from the advisory team were used to gauge reach, understanding, and educational and social impact, and to establish messaging. Families will be exposed to a wide-range of multimedia content, including interactive games and activity sheets featuring the beloved Sesame Street characters, through digital media, community outreach, local events, and seminars.

     

    In November 2013, MetLife Foundation announced a five year US$20 million commitment to Sesame Workshop to address financial empowerment among families with young children throughout the world. The “Dream, Save, Do” program was launched in China, India, Brazil, and Mexico in 2015. More countries will be included in 2016 and beyond.

     

    About MetLife Foundation

     

    MetLife Foundation was created in 1976 to continue MetLife’s long tradition of corporate contributions and community involvement. Since its founding through the end of 2015, MetLife Foundation has provided more than $700 million in grants and $70 million in program-related investments to organizations addressing issues that have a positive impact in their communities. Today, the Foundation is dedicated to advancing financial inclusion, committing $200 million to help build a secure future for individuals and communities around the world. To learn more about MetLife Foundation, visit www.metlife.org.

     

    About MetLife Insurance K.K.

     

    Established in 1973, MetLife Japan operates diverse distribution channels such as captive sales agents, insurance agents, direct marketing and financial institutions. The company provides a broad range of products including life, accident & health and asset formation products to individuals and institutional customers enabling them to prepare against financial risks. Website: http://www.metlife.co.jp/

     

    About Sesame Workshop

     

    Sesame Workshop is the nonprofit media and educational organization behind Sesame Street, the pioneering television show that has been reaching and teaching children since 1969. Today, Sesame Workshop is an innovative force for change, with a mission to help kids everywhere grow smarter, stronger, and kinder. We’re active in more than 150 countries, serving vulnerable children through a wide range of media, formal education, and philanthropically-funded social impact programs, each grounded in rigorous research and tailored to the needs and cultures of the communities we serve. For more information, please visit sesameworkshop.org.

     

     

     

     

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    Business Wire India

    Wells Fargo Securities, the investment banking and capital markets business of Wells Fargo & Company (NYSE: WFC), announced that SS&C Technologies Holdings, Inc. (Nasdaq: SSNC), a global provider of financial services software and software-enabled services, has agreed to acquire its fund administration business, Wells Fargo Global Fund Services (GFS). Pending regulatory approvals, the transaction is expected to close in the fourth quarter. The terms of the transaction were not disclosed.

     

    “We believe GFS clients will benefit from SS&C’s industry-leading position, proprietary technology and depth of expertise in fund administration,” said Dan Thomas, head of Institutional Investor Services at Wells Fargo Securities. “Wells Fargo Securities will continue to provide financial solutions to our alternative asset manager clients in core areas such as Prime Services, Futures and OTC Clearing and Futures Execution.”

     

    As part of the acquisition, SS&C will acquire GFS’ operations and team members in New York, Minneapolis, Singapore, Hong Kong and the United Kingdom. Wells Fargo will work closely with SS&C to provide GFS clients a seamless experience and continuity of services. Additionally, Wells Fargo will continue to provide access to its suite of financial products and services to GFS clients after closing.

     

    Wells Fargo Securities served as exclusive financial advisor to Wells Fargo in connection with the transaction, with K&L Gates LLP serving as legal counsel.

     

    About SS&C Technologies

     

    SS&C is a global provider of investment and financial software-enabled services and software for the global financial services industry. Founded in 1986, SS&C is headquartered in Windsor, Connecticut and has offices around the world. Some 10,000 financial services organizations, from the world’s largest institutions to local firms, manage and account for their investments using SS&C’s products and services.

     

    About Wells Fargo Securities

     

    Wells Fargo Securities delivers a comprehensive set of capital markets products and services, including public debt and equity origination and distribution, investment research, interest rate, commodity and equity risk hedging, mergers and acquisitions advice, prime services, structured lending facilities and municipal bond origination. The institutional capital markets business is comprised of more than 4,200 team members in 50+ locations across the U.S., Europe and Asia.

     

    About Wells Fargo

     

    Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,600 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 36 countries and territories to support customers who conduct business in the global economy. With approximately 268,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 27 on Fortune’s 2016 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Wells Fargo perspectives are also available at Wells Fargo Blogs and Wells Fargo Stories.

     

     

     

     

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    Business Wire India

    TA Associates, a leading global growth private equity firm, announced it has completed a significant investment in Radixx International, Inc., an industry-leading provider of travel distribution and passenger service system software for airline reservations, distribution and merchandising. Financial terms of the transaction were not disclosed.

     

    Radixx offers a cloud-based SaaS Passenger Service System (PSS) designed to help airlines increase profitability and maximize productivity through expanded distribution of products and services. The company’s product suite features flexible, modern technology that allows airlines to sell to ticketed passengers at all touch points – online, via call centers and at airports – and through multiple channels, including directly to consumers, via travel agents and tour operators, and through global distribution systems. Radixx’s solution provides airlines with a number of capabilities such as dynamically setting fare rules and prices, distributing inventory, offering ancillary sales at airports, managing passenger check-in, and enabling virtually all methods and types of payment in a myriad of currencies. The company also has a standalone, web-based frequent flyer offering designed to provide airlines with effective loyalty management programs. Radixx serves over 40 customers across six continents in over 20 countries. Founded in 1993, Radixx is headquartered in Orlando, Florida.

     

    “We believe Radixx is very well positioned in the PSS market and experiencing significant momentum, particularly in developing countries,” said Elizabeth de Saint-Aignan, a Principal at TA Associates who will join the Radixx Board of Directors. “Radixx provides a modern, flexible and scalable platform that can scale with customers, meeting the complex technology needs of airlines of all sizes from smaller low-cost carriers to large full-service airlines. We are pleased to complete this proprietary investment in Radixx and to use our resources to help further grow the company.”

     

    “We see the investment by an experienced firm like TA Associates as a notable milestone in the evolution of Radixx, indicative not only of our success to date, but also the prospects for considerable further growth,” said Ron Peri, CEO & Chairman, Radixx International, Inc. “We believe our flexible and dynamic PSS enterprise solution offers notable competitive advantages compared with legacy systems, and we are confident it will continue to prove highly attractive to innovative carriers. We welcome TA as our first institutional investor and look forward to a close collaboration in building significant additional value in Radixx.”

     

    According to Technavio, the global low-cost carrier market is expected to continue its rapid expansion, with an estimated compound annual growth rate (CAGR) of 10.4% from 2015 to 2019. By region, CAGR in Asia Pacific, the Americas, and Europe, the Middle East and Africa (EMEA) is forecast at 20%, 5% and 0.9%, respectively, during this period. On an airline seats basis, market capacity is expected to increase from 1.496 million seats in 2014 to 2.456 million in 2019.

     

    “Global industry deregulation and resulting fare decreases have been critical to the rapid growth in air travel in developed and developing nations, providing access to air travel for historically underrepresented groups,” said Kurt R. Jaggers, a Managing Director at TA Associates who will also join the Radixx Board of Directors. “Radixx serves airlines of all sizes with modern technology enabling ticketed and ticketless sales, and allows airlines to operate profitable business models. Given the strength of its market position, we are confident that Radixx will continue to benefit from the rapid growth in air travel.”

     

    Goodwin provided legal counsel services to TA Associates. Seyfarth Shaw served as legal counsel to Radixx.

     

    About Radixx International

     

    Radixx International, Inc., headquartered in Orlando, Florida, is now delivering its fifth-generation cloud-based Passenger Service System. Designed from inception as a merchandising platform for airlines to sell anything, Radixx International is a leading provider of next generation airline distribution solutions. Radixx Air is a complete enterprise system that caters to the needs of hybrid, low-cost and traditional airlines, including support for interlining, code sharing and distribution through GDSs. Founded in 1993 and now hosting airlines on six continents, Radixx’ fully integrated, cloud-based solutions support all airline business models. For more information, visit www.radixx.com.

     

    About TA Associates

     

    TA Associates is one of the largest and most experienced global growth private equity firms. The firm has invested in more than 460 companies around the world and has raised $24 billion in capital. With offices in Boston, Menlo Park, London, Mumbai and Hong Kong, TA Associates leads buyouts and minority recapitalizations of profitable growth companies in the consumer, business services, financial services, healthcare and technology industries. More information about TA Associates can be found at www.ta.com.

     

     

     

     

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