Kastle Universal Banking Included in Global Banking Platform Deals Survey by Independent Research Firm

3i Infotech Limited (BSE: 532628, NSE: 3IINFOTECH), a global Information Technology company, committed to accelerating business transformation, has been recognized as a Solid Player and a Base and Regional Player in the combined and new deals categories respectively, for its banking product – Kastle, in the Forrester’s Global Banking Platform Deals Survey 2020. 

Speaking on the recognition, Mr. Padmanabhan Iyer, Managing Director and Global CEO, 3i Infotech said, “3i Infotech is honoured to have Kastle Universal Banking included by a prestigious institution like Forrester. We believe that this recognition reinforces our commitment of delivering next-gen products to our customers across the globe. By constantly upgrading our comprehensive set of IP based software solutions & IT services solutions, we have re-invented ourselves to address the dynamic requirements of BFSI industry.” 

“Kastle Universal Banking Solution is an end-to-end banking solution catering to the entire spectrum of banking across Lending, Islamic Finance, Core Banking, Treasury, Trade Finance, Integrated Risk Management, Digital Banking and Analytics. AMLOCK (Financial Crime Detection and Management Solution) coupled with Kastle Universal Banking Solution is a force multiplier for banks and financial institutions to be digitally equipped and be future-ready to meet their business goals. Multiple combined deals is a testimony to Kastle Innovative Banking Solution by banks and financial institutions across the globe. We are honoured by this recognition by Forrester,” said Krish Narayanaswami, President and Global Banking Head, 3i Infotech. 

Forrester’s Global Banking Platform Deals Survey 2020 is an independent survey conducted annually by Forrester. The research is published to guide decision-makers at financial institutions around the world. Forrester surveyed 35 key banking platform vendors about their 2019 deals and published the results from the survey in their report, The Banking Platform Market Remains Stagnant, Though Smaller Banks Are Turning To Fintechs - Forrester Report Link.

About 3i Infotech 

Headquartered in Mumbai, India, since inception in 1993, the Company has been committed to driving business value across multiple industry verticals and has a strong BFSI presence. The company has over 5500 employees in 31 offices across 12 countries and over 1200+ customers in more than 50 countries across 4 continents. With a comprehensive set of IP based software solutions and a wide range of IT services, 3i Infotech has successfully transformed business operations of customers globally. The Company has a very strong foothold and customer base in geographies like North America, India, Asia Pacific, Middle East and Africa, Kingdom of Saudi Arabia and South Asia.  

Its flagship products include Kastle™ (Universal Banking Solution), AMLOCK™ (Financial Crime Detection and Management Solution), MFund™ Plus (Asset Management Solution), Premia™ Astra (Core Insurance Solution) and Orion™ (Enterprise Resource Planning Solution). 3i Infotech provides IT Services across Mobility, Data Analytics, Block Chain, Cloud Life Cycle Management, Testing Services, Infrastructure Management, Application Development & Maintenance, Professional Services, IT Consulting and BPO. 

PNB MetLife Broadens its Product Portfolio with Three Unique Offerings for Retail Customers

Portfolio

* A guaranteed savings plan, which allows customers the flexibility of pay-out as a lumpsum or supplementary income

* A combined plan, assuring life and health insurance protection, with coverage against Covid-19

* A new Unit Linked Insurance Plan (ULIP), which offers whole life cover along with tailor-made solutions for wealth creation

PNB MetLife Insurance is expanding its product portfolio with three new unique offerings: PNB MetLife Guaranteed Future Plan; Mera Mediclaim Plan and PNB MetLife Smart Platinum Plus. At PNB MetLife customer centricity is the cornerstone that binds all functions. These offerings complement the Company’s concept of “Circle of Life”, which assesses the needs of the customers and offers them with solutions on varied financial needs including - Child Education, Family Protection, Long Term Savings and Retirement.are testament to this approach and was designed keeping in mind the evolving needs of customers across different segments. 

PNB MetLife Guaranteed Future Plan, a guaranteed savings life insurance plan that offers dual advantages of long term guaranteed benefits and financial protection to the family in case of adversities. The plan offers complete control to customer and helps customize the savings schedule based on customer’s needs and affordability. It allows customers the flexibility to choose their future guaranteed pay-out as a lumpsum, income or a combination thereof which will help meeting financial requirements for various goals.

The company, in partnership with Religare Health Insurance, has launched - Mera Mediclaim Plan – that combines benefits of health and life insurance under a single policy. The new solution gives customers access to quality healthcare, cashless hospitalization, along with life insurance coverage.

Additionally, the company has also received approval from the Insurance Regulatory and Development Authority of India (IRDAI) to launch PNB MetLife Smart Platinum Plus, a whole life savings-oriented unit-linked insurance plan (ULIP). The plan also offers life insurance cover to protect ones family in case of an unfortunate demise as well as provides with tailor-made solutions to achieve ones goals, including an option where wealth creation doesn’t take a back seat even during critical illness.

Ashish Kumar Srivastava, MD & CEO, PNB MetLife, said “At PNB MetLife, we believe in “Customer Centricity’ and continuously work towards providing solutions in line with our mantra. As a part of our ‘Circle of Life’ approach, which has been conceptualized to deliver need-based solutions that provide financial wellbeing to the customers during their lifetime, the new products will address the need for life and health protection as well as wealth creation.  PNB MetLife also declared bonus for its participating polices which remains consistent even in these uncertain times. We will continue to invest our efforts in product innovations and introduce more products that will serve the life-stage needs of our valued customers.”  

PNB MetLife Guaranteed Future Plan offers four different options to create a corpus to meet one’s financial goals. The plan comes with a guaranteed income ranging from 103% to 245% of the annualized premium.  Annual premiums higher than Rs.30,000 also receive High Premium Reward ranging from 4% - 12% of annualized premiums.  Besides one can opt for Income plus booster options that will give them an additional income pay-out at specified intervals ranging from 30%-406%. The plan allows customers to time the receipt of maturity amounts on special occasions like birthdays or anniversaries. The policyholder will also be eligible to avail income tax benefit on premiums paid and benefits received under 80 (c) and 10(10d).

Mera Mediclaim Plan offers coverage for comprehensive health and hospitalisation insurance along with life insurance.  The plan features cashless hospitalization cover across Religare Health Insurance’s network of more than 7,500 hospitals. The plan also covers more than 540 Day Care Treatments, alternative treatments such as Ayurveda, Unani, Siddha and Homeopathy and offers a no claim bonus which helps cover to increase upto 220% over two years and 250% over five years. This unique plan provides a cost-effective solution for customers by offering a discount of 7.5% on both life and health insurance premiums, plus dual tax benefits under both section 80 (c) and 80 (d)

PNB MetLife Smart Platinum Plus is a whole life protection and savings oreinted Unit Linked Insurance Plan.  The plan features an unique Care Benefit which helps customers secure their goals against health exigencies and the insurer pays all future premiums in case of diagnosis of any of the listed five critical illnesses. The plan provides additional allocations through features like Return of Fund Management charges of 1st 5 years and Fund booster which is paid at the end of 10th year which enhance the fund value and also incentivise the customers to stay invested for longer. This holistic plan offers the policyholder with the freedom to choose from the benefits, duration of premium payment, the sum assured multiple and also maximise their wealth creation potential through a choice of portfolio strategies and variety of funds. It also offers flexibility of switching between different fund depending on the risk appetite and partially withdrawing money from the fund value after the lock-in period.  The company so far has 22 unit-linked funds in its portfolio of which PNB MetLife Virtue Fund II and PNB MetLife Virtue Fund has been ranked amongst the top 10 in the Insurance Large Cap Category (as of June 30, 2020) by Morningstar, a leading independent investment research organization. This ranking is testimony to the company’s strong fund management prosess and reaffirm the commitment to deliver value accretive growth to its customers investing through market-linked products. 

This trio of products launched by PNB MetLife holistically fulfils the advanced needs and demands of the consumer. Amongst the three products, Mera Mediclaim Plan and PNB MetLife Guaranteed Future Plan are available across PNB MetLife’s bancasurance, agency as well as online channels. As the masses settle to the new normal where protection of health and life and wealth creation have assumed a level of importance like never before, PNB MetLife strives to serve its customers at every new juncture of their lives through its dynamic and ever-evolving approach to customer satisfaction.

About PNB MetLife India Insurance Company Limited

PNB MetLife India Insurance Company Limited (PNB MetLife) has as its shareholders MetLife International Holdings LLC. (MIHL), Punjab National Bank Limited (PNB), Jammu & Kashmir Bank Limited (JKB), M. Pallonji and Company Private Limited and other private investors, with MIHL and PNB being the majority shareholders.

VIL Offers a Unified Vodafone RED Experience to All Postpaid Customers Across Indian Telecom Circles

Vodafone Idea Limited, one of India’s leading telecom service providers, today announced the completion of its postpaid consolidation journey by bringing all Idea post-paid subscribers under a single umbrella of Vodafone RED. All Vodafone Idea postpaid customers can now avail benefits of the Vodafone RED plan, a uniform customer service, and an enhanced digital experience.

This consolidation is a major step towards its synergy realisations and has led to process standardization for both the retail and enterprise customers.

It will enable the company to provide a uniform customer experience through self-service channels with enriched menu options on IVR, USSD, MyVodafone App and Websites for availing products, services and making payments. Erstwhile Idea postpaid customers now do not need to go through a separate on-boarding and service experience. They can now avail Red Family subscription, a single bill for entire family, access to Vodafone Play, premium content and a bouquet of other value added services.

Announcing the completion of postpaid consolidation, Vishant Vora, Chief Technology Officer, Vodafone Idea said, “The consolidation of Vodafone and Idea postpaid customers is a major step towards our vision of one company, one network. One of the biggest and fastest migration in the telecom space, this has led to operational synergies and process standardisation for both our postpaid retail and enterprise customers. It enables us to provide enhanced customer experience to our postpaid users.”

With this consolidation, Call Centre Agents will be able to serve customers better using the CRM insights provided through 360 degree view on customer information, interactions and service profiles. Real time rating functionality will ensure accurate unbilled charging for customers at any given point of time. Customer will also be able to receive timely notification and alerts for any over usage. Moreover automated credit monitoring and dunning can trigger on time to ensure customer does not incur huge Bills thus avoiding Bill shocks.

Vodafone Idea has successfully integrated two strong networks in 92% of the districts, taking the integrated circles to 18. The deployment of new age technologies such as M-MIMO, DSR, Hybrid Cloud, OpenRan to enhance capacities and increased 4G coverage has resulted in richer customer experience.

During the pandemic the company has introduced several initiatives like recharges and payments via ATM/ USSD/ other digital platforms and launched AI powered customer service Bot on WhatsApp to keep its customers connected with their loves ones.

Has AIG bonus outrage gives employees a fear?

The bonuses paid to AIG executives have turned pillars of a Connecticut community into pariahs and have workers fearing for their safety.

An executive who feared retribution and spoke Friday on condition of anonymity says AIG workers in ritzy Fairfield County are ``very, very nervous'' about security.

AIG's financial products division is in nearby Wilton. Corporate officials have told employees to avoid sporting the company logo and to travel in pairs at night.

Activists plan to visit the homes of AIG executives Saturday in an attempt to deliver letters highlighting the economic problems of ordinary Americans.

Security companies say the financial crisis is creating brisk business in everything from bomb-sniffing dogs to bodyguards.

Agencies