Smart Banking Ideas for a Smart City - Navi Mumbai

 Leading Bankers shared innovative suggestions at the forum

The Navi Mumbai Municipal Corporation (NMMC), in its endeavor to engage with enlightened minds for the Smart City Mission, held a Smart Banking Connect at NMMC Headquarter, Belapur on Thursday evening. The NMMC sought bright ideas and suggestions from the city’s banking community for seeking avenues for smart banking for the citizens.

The event witnessed the presence of esteemed banking organizations like Bank of India, Bank of Maharashtra, SBM, Indus Ind Bank, Axis Bank, ICICI Bank, Yes Bank, Allahabad Bank, Bank of Baroda and Indian Bank.

The Navi Mumbai Municipal Corporation was represented by the Chief Accounts and Financial Officer D.M. Garad and Chief Auditor Suhas Shinde. Members present were enlightened on how Smart City Navi Mumbai can bring about a drastic change in the lives of residents due to improved banking.

The session was followed by the banking fraternity sharing ideas of smart banking for the smart city. Some of them included introducing incentives on e-payment of bills, collection of bills through mobile bank vans, smart gadgets and correspondents that can collect payment of the bills from slum and village areas. An idea of a smart mobile application and a smart NMMC card for payment of water, electricity, property bills etc from one point was discussed.

The Smart City Challenge is designed to inspire greater creativity from municipal officials and their partner ecosystem. The challenge invites for a more evolved ‘Citizen-Civic’ engagement, along with an overall development of proposals that will produce concrete benefits in people’s lives.

XIUS Awarded NFC Patent by USPTO

Strengthens XIUS Mobile Payments Portfolio in APAC

XIUS, a leader in delivering innovative, revenue-generating solutions to mobile operators, banks and financial institutions worldwide, announced today the award of its patent in Near Field Communication (NFC) technology. The invention relates to a smart integration of dual architecture contactless SIM into mobile devices and describes the method of efficiently performing various financial transactions. The patent filed in February 2010, was awarded by the US Patent and Trademark Office recently this year.

NFC as a technology is extending beyond applications initially envisioned by the market. End users have started to believe that using their mobile phone for payments is safe and also addresses privacy concerns. Mobile wallets are now making a significant impact by creating new market opportunities. XIUS mobile payments solution is powered by futuristic technologies including NFC, and aims to deliver customers seamless services and enriched experiences in real-time fashion.

Speaking on the occasion, said G.V. Kumar, CEO and Managing Director, “The award of yet another patent is testimony to XIUS’ thought leadership and emphasis on innovation. XIUS takes immense pride to have developed years ago, a SIM based solution for NFC enabled payments. Our endeavoring efforts have borne fruit and the award of this patent only reiterates our strong belief and commitment to continue innovating and contributing to the industry”.

XIUS implements NFC as one of the technologies in offering banks and financial institutions its unique technology enabled banking services. The solution leverages existing mobile ecosystem and extends banking services to the unbanked and under-banked segments of the population that banks are otherwise challenged to penetrate and cater to.

NFC technology allows retailers and brands to engage with increasingly connected mobile consumers. Retailers and brands can use NFC during the customer journey to improve in-store experiences, enable touch & go payments, generate more sales, and enhance customer loyalty and trust. As part of its mobile commerce offerings, XIUS NFC-based payment solution improves customer experience and delivers control of purchase flow to the merchant.

Whether deployed to facilitate banking transactions or in a retail outlet, XIUS NFC mobile enabled solution has diverse uses among those that are now being widely publicized and adopted by technology companies / retail chains in evolved markets such as the US and Europe in the recent times.

Ozonetel Launches Speech Recognition on CloudAgent

Ozonetel Systems, the pioneer in Cloud Communications in India has launched Speech Recognition on CloudAgent, the Contact Centre Solution.

Last year, Ozonetel acquired the speech recognition business of Yantra Software, a provider of speech and voice technology products and services.  The objective was to integrate their speech capabilities into the core KooKoo platform so that KooKoo developers can start building speech applications for providing quality services at a lower cost to its customers. Ozonetel has spent close to a year rigorously testing the software with its platform using various dialects and trying to make the system foolproof before launching it to the end customers.

You can check out a small demo by calling 040-30247041. It will ask you to say a number from 1 to 9. Say a number from 1 to 9 and wait. The IVR will repeat the number spoken by you.
We are moving from "Please press 1 for Sales or 2 for Support" to "Please say 1 for sales or 2 for support". It will not be long before the IVR says "Please say Sales or Support"

Compared to Google & Siri, this might seem to be quite a basic solution but our approach to speech is to make it easily available to the end users without them knowing how speech recognition works. Ozonetel will be rolling out multiple domain specific word packs for cities/state, grocery, banking, insurance etc. These would be already trained and tested for accuracy, and our team will continuously monitor and improve it for better accuracy.

With the launch of Speech Recognition, Ozonetel will redefine the whole IVR experience for the end customers. The technology can immensely benefit businesses who are trying to reach the base of the pyramid market segments. People who cannot read and write, can now verbally respond to the IVR prompts instead of having to feed in digits through the mobile keypad. The IVR prompts can be in the local language. Our vision is to solve the customer communication problems for businesses and this is another big leap in this direction. The reach and impact that the speech recognition technology can provide can be humongous.
Some of the immediate benefits can be summed up as follows:

• Businesses can market their services to rural population without having to worry about the education level of such target audiences.
• Banks can use speech recognition services to reach out to unbanked people to bank on feature phones using IVR and they can be authenticated using speech bio metrics.
• Urban audiences can now also use the speech recognition to go respond to the IVR prompts because they won’t have to keep moving the phone away from the ear to look at the keypad and feed in the digits. They can be using an IVR service even while driving.

Ozonetel in its constant endeavour to innovate and provide the best technology solutions to its customers is now helping businesses improve the way they “speak” and “listen” to their customers.

IBSFINtech launches ‘Treasury on Cloud’ for SMEs in India

     An innovative self-sufficient solution for treasury management designed for MSMEs in India

 IBSFINtech, the leading provider of niche financial software for Forex, Treasury and Trade Finance management, is pleased to announce launch of ‘Treasury on Cloud’, an innovative approach to treasury management designed for MSMEs in India.

IBSFINtech received an overwhelming response at a recent launch and participation at CII Summit in Kolkata titled ‘Empowering SMEs Through Addressing Their Financing Needs’.

IBSFINtech’s ‘Treasury on Cloud’ product offering is designed to particularly drive the Government of India’s Make in India campaign more effectively, by empowering MSMEs in effective management of treasury & trade finance functions and helping them achieve higher growth and scale.

Speaking on the occasion, Haresh Patel, Member - Advisory Board, IBSFINtech, said “We are excited to launch ‘Treasury on Cloud’, designed to assist MSMEs in effective management of market risks, that too with a nominal investment. Treasury on Cloud is a self-sufficient solution to address needs of Micro, Small and Medium Enterprises of the country. It is an ideal solution for MSMEs as it requires no capital expenditure, allows for rapid implementation, and no risk owing to the pay-as-you-go model!”

Amit Tripathi, Deputy Director at CII, said, “IBSFINtech is a technology company with strong presence in niche financial software solutions. CII provided a platform for IBSFINtech to launch their innovative treasury product offering on cloud, designed to suit the requiremnts of the MSME segment in the country.”

He further added, “MSME is the most critical and fastest growing segment in the country, and with enhanced support from Government of India via the Make In India campaign, MSMEs expansion is inevitable. I believe IBSFINtech can play a pivotal role in supporting MSMEs via their innovative product portfolio in treasury and trade finance management. ”

IBSFINtech’s next-gen products, Innovative TreasuryTM Solution & Innovative Trade FinanceTM Solution have seen an exciting response in the industry.

Both the solutions are being subscribed by some of India’s leading retail chains and stores. The corporate treasury implementations are currently being used by varied customers including publishers, manufacturers, service providers and numerous other verticals.

About IBSFINtech  -  http://ibsfintech.com/

IBSFINtech (IBSFINtech India Pvt. Ltd) is a Bangalore based organization specializing in providing niche products in the area of Forex & Treasury and Trade Finance for corporate sector. IBSFINtech has a suite of products for treasury operation such as currency, money, commodity, gold bullion trading and derivatives of vanilla and exotic types. The products are seamlessly integrated with each and also with ERP solution of SAP, Oracle financial etc. The company has Trade Finance solution catering exporters/importers dealing in diamonds, gold, cashew nuts, Steel and garments etc.,  Group has dedicated technical as well as domain experts. IBSFINtech has it corporate office in Bangalore with a branch office at Mumbai with necessary infrastructure.

XIUS AMPLIO to Accelerate Telecom and Internet Providers Data Revenues

Demonstrates improvement in data ARPU from 25% up to 90% through analytics, application and action

 XIUS, one of the global providers of mobile solutions and infrastructure today introduced the latest solution, XIUS AMPLIO that guarantees acceleration in data revenue through their continuous improvement delivery model.

XIUS AMPLIO, a unique offering, is built on the company's patent pending Predictive Data Modeling platform that offers real-time network analytics and policy management functions to optimize the utilization of core data networks and monetize the available bandwidth through differentiated service offerings.

Speaking on the occasion, G.V. Kumar, CEO and Managing Director of XIUS said, “XIUS AMPLIO’s powerful data-driven platform and intelligence on customer usage patterns enables mobile operators, cable operators and fixed / wireline broadband operators to refine and leverage on their existing portfolio. Through advanced analytics, application and action, service providers can now generate new valuable sources of customer insights to drive and multiply their data revenues, thereby creating richer, personalized experiences for users”.

The cloud based XIUS AMPLIO supports NFV based management and orchestration. The unique delivery model emphasizes continuous engagement with service providers to ensure it is an outcome-based offering. XIUS is committed to tangible increase in data revenue within a specified time period and month on month thereafter.
XIUS' unique engagement model guarantees a significant improvement in data ARPU from 25% up to 90%. The new solution offering allows mobile operators and internet service providers (ISPs) with new revenue streams – a transition from selling standard data plans and packages to offering diverse and dynamic portfolio of data services based on customer segments and needs.

XIUS AMPLIO is also available on monthly subscription plans for the mobile and broadband service providers