69% of Indian Consumers Believe their Data is Valuable to Businesses Says Experian 2020 Global Identity & Fraud Report

Report

* Globally, two thirds of consumers said security is still the most important factor when deciding to engage a business, followed closely by ease of access to their accounts

* Fraud poses significant challenge for businesses worldwide, with 57% of businesses seeing rising year-on-year fraud losses linked to account opening and account takeover fraud

Experian, one of the leading credit bureaus and data analytics and decisioning companies today released the Experian 2020 Global Identity & Fraud Report. One of the key findings is that consumers seem to have a heightened awareness about the value of their information with about 69% of Indian consumers saying they like the changes being made to the customer experience as a result of their data being used.

Another significant finding is that the key factors to meaningful online customer engagement are identifying and recognizing consumers periodically. While Indian businesses ranked the highest at 100% in being confident in their ability to identify customers, 35% customers felt unrecognised by businesses. Additionally, about 54% of businesses in India currently use advanced analytics (a hybrid of supervised/unsupervised machine learning + business rules) for identity authentication and fraud prevention. More sophisticated authentication strategies and advanced fraud detection tools will allow businesses to accurately identify and continually re-recognise their customers, reducing their exposure to risk and ultimately leading to increased trust in such organisations.

“Experian’s 2020 Global Identity and Fraud Report shows that while the challenge of identity is a large part of every customer decision, the desire for a better experience, and concerns around security still form the core of the digital relationship between customers and businesses. Businesses today need to deliver more than personalised products and offers; they also need to deliver on customer expectations for security and convenience at every step of the digital journey,” said Sathya Kalyanasundaram, Country Head and Managing Director, Experian India.

Globally, while 95% of businesses are confident in their ability to identify customers digitally, more than half of consumers across the globe do not feel recognised when engaging with businesses online. Over half of the businesses surveyed are prioritising the creation of targeted products and offers while collecting more personal information to do so. Additionally, 84% of businesses believe if they can better identify customers, then they will more easily spot the fraud.

Over 90% of businesses feel these new identity propositions play an important role in re-recognising their customers but no one approach has broadly taken hold yet. Many businesses are familiar with their emergence and are in ‘wait and watch’ mode as the technology evolves and consumer interest grows. Regardless of which identity proposition is adopted by a business, the need to establish the verifiable claims that constitute a person’s identity is fundamental to doing business digitally.

Experian interviewed 6,500 consumers and more than 650 businesses from across 13 countries including India, Mainland China, Japan, Indonesia, Australia, United States, United Kingdom, Germany/Austria, France, Spain, the Netherlands, Brazil, and Columbia. Experian’s 2020 Global Identity and Fraud Report explores inconsistencies between businesses’ views of their ability to meet their customers’ needs and customer experiences with those businesses.

Additional findings from Experian’s 2020 Global Identity and Fraud Report include:

57% businesses are seeing higher losses associated with account opening and account takeover fraud, in the past 12 months.

Over half the businesses are prioritising the creation of targeted products and offers.

66% of consumers understand the value of their personal information to businesses.

88% of consumers want more control over the use of their data.

Experian’s 2020 Global Identity and Fraud Report also shows how different regions across the globe view and manage fraud:

In Brazil, 93% of consumers want more sophisticated security in the form of facial recognition, compared to 63% in China.

While 95% of businesses globally claim to have high confidence in their ability to identify and re-recognise their customers at every interaction, the lowest confidence is in the Netherlands with 82%.

Consumers in the U.S. value their data the most, with 74% of consumers seeing value to them personally. Colombian consumers were the lowest with 5% of consumers.

Globally, 88% of consumers like the changes being made to the customer experience as a result of their data being used. Consumers in APAC top the list at 89% and Europe (including UK) follows closely behind at 82%.

Experian’s identity and fraud business comprises of nearly 300 fraud experts around the world working to protect people’s identities and fight fraud for businesses across multiple sectors, including financial services, telecommunications, retail/e-commerce, insurance, government, and healthcare.

LTI to Launch Accelerated Migration Program for SAP-Based Enterprises with Amazon Web Services

Larsen & Toubro Infotech, a global technology consulting and digital solutions company, today announced an Accelerated Migration Program for customers of SAP with Amazon Web Services (AWS). As part of this program, LTI will help customers move their SAP ERP, SAP S/4HANA, and other SAP workloads from on-premise to AWS leveraging its intelligent, automated, migration acceleration platform and services.

To enable faster migration to AWS, the program offers Discovery Module, Build and Deployment Module, and Validation Module to enterprises across industry segments. The Add-on components of the program include an SAP profiler, analyzer for SAP S/4HANA, Auto-code remediation for SAP HANA compliance, Security Module and Smart Testing module with a vast repository of test scenarios and test cases.

“LTI has a successful track record of enabling AWS cloud transformations across highly complex SAP customer landscapes,” said Siddharth Bohra, Chief Business Officer, Tech, Media, Consumer & Head of Digital and Analytics, LTI. “Working with AWS will help us digitize the core and bring this expertise to other SAP clients, leveraging our highly automated approach.”

LTI has achieved AWS SAP Competency status which establishes LTI as an Advanced Consulting Partner in the AWS Partner Network (APN) with certified technical proficiency and proven customer implementation success in migrating SAP environments to AWS. 

The Accelerated Migration expertise reflects the highest standards of LTI’s depth of knowledge in the functional and technical aspects of AWS cloud migration for SAP solutions. LTI itself is a very large and long-standing SAP customer and has migrated its internal SAP systems to AWS.

As an SAP customer, an AWS SAP Competency Partner, and global strategic services partner with SAP, LTI is positioned to be an ideal partner for any SAP customer migrating to AWS. LTI’s Accelerated Migration Program for SAP solutions speedily migrates and transforms SAP-based enterprises by lowering infrastructure costs while simultaneously improving agility, customer experience, and innovation.  

In October 2019, LTI acquired Powerup Technologies, an APN Premier Consulting Partner, bolstering its cloud consulting and digital transformation capabilities. LTI recently won the 2020 SAP Pinnacle Award as Industry Innovation Partner of the Year.

Swasth, a Tele-health Network, Launched to Provide Free Corona Care

Digital Healthcare Push 

* 100+ private and not-for-profit entities join hand to frame tech response to national crisis

* India’s first big push towards mass adoption of digital healthcare as a citizen empowering platform

* Swath platform facilitates seamless and remote interaction between registered medical practitioners and patients

* App-based consultation service in Hindi, English and Gujarati to begin with, and will be expanded to 25 Indian languages

A coalition of over 100 healthcare specialists have come together to launch Swasth, a nationwide telemedicine platform for Corona care, which digitally connects Indians to the best doctors and wellness providers. Swasth is a swift response promoted by the country’s health and technology leaders to Prime Minister Narendra Modi’s call to leverage telemedicine as a national priority in the current stressed times. The mobile app-based service leverages India’s technology prowess to deliver equal and affordable healthcare to 1.3 billion people, cutting across geographical and income divides.

This indigenous digital healthcare system is being launched at a time when the COVID-19 pandemic has challenged traditional service providers.

Mr. Kris Gopalakrishnan, a part of the Swasth Governing Council, said, “Swasth has brought together the best of resources in the country to provide free healthcare to bring quick relief during the crisis. Swasth will work to further public health goals and work in coordination with the Medical Council, public health organizations, and the private sector to expand quality healthcare access to the masses. I firmly believe that this crisis is a great opportunity to re-invent healthcare delivery in India.”

Swasth facilitates seamless, remote interaction between registered medical practitioners and patients through multiple modes of video and telephony. Swasth deploys AI based triaging to determine the care required, culminating in a digitally signed prescription and treatment advice.

Along with the free consultations, Swasth will also provide services like home quarantine assistance, diagnostics, pharmacies, hospital bed discovery and booking assistance at a subsidized cost.

All doctors on the Swasth platform are duly verified and undergo specially designed training programs on tele-consultation and COVID-19 clinical protocols.  Swasth is in full compliance with the industry-accepted cybersecurity norms for healthcare platforms. It uses a defense-in-depth approach to ensure that data is securely transmitted, stored, managed and accessed. Currently, the app supports consultation in Hindi, English and Gujarati and will be expanded to 25 Indian languages.

Swasth is the country’s first big push towards mass adoption of digital healthcare as a citizen empowering platform.

Dr Nachiket Mor, a member of the Governing Council, added, “Swasth is a unique non-profit coalition of members from multiple sections of the Indian healthcare ecosystem, including individual doctors, small and large hospitals, diagnostic labs, pharmacies, telemedicine platforms, insurance companies, and healthcare-technology companies, who have joined hands with the goal of creating affordable healthcare for all Indians in every nook and corner of the country, so that they can immediately get the care that they need for this crisis, as well as for all their other healthcare needs. Swasth will do this by making it easy for patients to smoothly access the services they need from its members, and will also enable each of its members to provide a wide range of high quality services to their patients, by giving them access to protocols, technologies, and platforms that are best in class, completely interoperable, and fully compliant with the latest guidelines.”

Dr NK Jairam, a key member of the project team, said, “As we move on with the current Corona pandemic and with social distancing being one of the key remedies to eradicate it, telemedicine is going to be an integral part of the healthcare system. Tele- consultation has been offered by doctors since the early 2000s, however, it has gained rapid momentum because of the current situation. With Swasth, telemedicine will gain a boost which will empower patients to make quick decisions and also teach them self-care.”

Abheek Singhi, Senior Partner at BCG, and member of the project team for this initiative, said,  "Swasth is a consortium of 70+ organizations and 200+ volunteers with a common goal of building a comprehensive COVID care platform in the short term and of leveraging technology to transform primary healthcare delivery in the medium term. This is the first time such a coalition like this has come together. BCG is privileged to be partnering with this alliance"

Swasth is created by a not-for-profit consortium of different players across healthcare providers, telehealth platforms, entrepreneurs, technology experts and doctors. Swasth received a grant of INR 10 crore ($1.3 million) from the ACT Grants, an umbrella platform of entrepreneurs and investors backing start-ups fighting the pandemic.

About Swasth

Swasth is a Not-for-Profit initiative that aims to leverage India’s proven clinical capabilities and technology capabilities to democratize access to quality primary care – for any citizen anywhere in India. Swasth will ensure access is affordable by leveraging digital technology to optimally use available provider capacity, and promote a system that fully adopts national health standards. A coalition of like-minded, relevant and successful physicians, professionals, technocrats and entrepreneurs from the healthcare ecosystem have voluntarily come together to pool in their time, intellect, IP and financial resources to help India leapfrog and provide quality healthcare using best in class digital technologies.

Cure.fit Celebrates International Yoga Day with 5.6 Million Surya Namaskars

Cure.fit, India’s leading integrated holistic healthcare platform, witnessed an incredible turnout for its Surya Namaskar Challenge as a part of International Yoga Day. On 21st June, close to 1 million yoga enthusiasts participated in the challenge throughout the day and together clocked in over 5.6 million Surya Namaskars across cure.fit platforms, social media & corporate tie ups.

Since all cure.fit and mind.fit centres are currently shut due to lockdown regulations, the challenge was executed entirely online, with a live counter to track progress. There were 170+ sessions including various forms of Yoga and meditation for users to partake in. Surya Namaskars were integrated as part of warm up and cool down across all our formats for the day.

To keep users engaged, Cure.fit hosted an in-app Yoga quiz, expert session on the benefits of yoga by Nandita Das, masterclass sessions by Vidya Malwade & Aashka Goradia. In addition, cure.fit experts Rishabh Telang, Shwetambari Shetty & Divya Rolla also conducted sessions. More than 100 cure.fit employees also showed enthusiastic participation in the Surya Namaskar Challenge.

Commenting on the success of the campaign, Ankit Nagori, Co-founder, cure.fit, said: “Knowing how important a practice like Yoga is we felt it was appropriate to encourage people, in a fun way, to embrace the Surya Namaskar asana on Yoga Day. It is at the very core of Yoga and has numerous physical and mental health benefits. We are so happy that close to 1 million people took part in this and spread the message with us. Going forward, we hope to see many more people adopt it as a way of life.”

About Cure.fit

cure.Fit Healthcare Pvt Ltd is a holistic integrated healthcare platform headquartered in Bangalore. Founded in 2016 by Mukesh Bansal and Ankit Nagori, cure.fit aims to address preventive healthcare through a combination of engagement, coaching and delivery using a mix of online and offline channels. cure.fit caters to living a healthy life through three critical dimensions- eat.fit, mind.fit and cult.fit. While cult.fit focuses on physical strength and fitness; eat.fit for healthy and nutritive food, mind.fit for mental wellbeing and care.fit for integrated medical and lifestyle care. cure.fit is an app based service provider and is available on Android and ios.  

Vedanta’s Nand Ghar Project Rolls Out Digital e-Learning Modules for Children in Villages of UP, Rajasthan and Odisha

Vedanta Limited’s, flagship project “Nand Ghar” has rolled out e-learning modules for home-schooling through WhatsApp groups across villages of Uttar Pradesh, Rajasthan and Odisha.

The e-learning modules consists of stories, games, rhymes, home based activities, moral science lessons and more for children below six years of age. ICDS, Government of Rajasthan issued an order to roll out Nand Ghar e-content along with UNICEF e-content for children of all 60,000+ Anganwadi centres reaching out to more than 12 lac children in the state.

Complimenting Vedanta on this initiative, Dr. K. K. Pathak, Secretary, Women and Child Development Department, Govt. of Rajasthan, said, “Amidst the pandemic, with curtailed  classroom education, e-learning has come to the forefront across the world. I'm delighted that WCD, ICDS Rajasthan has been successfully imparting education across 60,000+ anganwadis through e-learning. This has been possible with the joint efforts of Vedanta and UNICEF who have provided the much needed support. From creation of e-learning content to on ground delivery, Vedanta's contribution in this initiative is highly appreciable.”

At a juncture of a changing era, this initiative has proved to be a game changer.  It has opened a window of possibility, where-in Education is being made available and accessible to every child of around thousands of villages in India.

Speaking on the initiative, Mr. Anil Agarwal, Chairman - Vedanta Resources, said, “The spread of Covid-19 pandemic leading to closure of schools and colleges has affected billions of children and youth worldwide. The higher income families have access to technology and internet, however it is the lower income families that are bearing the brunt of the unprecedented pandemic. With the Anganwadi centres closed at this point, the need for uninterrupted education of children remains our priority. Thus, with an objective that no child is bereft of education, Nand Ghar has launched its e-learning modules through mobile phones reaching all Nand Ghar villages. This is a step on our part to bridge the gap and make sure that digital self-learning becomes an unlimited resource to all”

Vedanta project Nand Ghar has already constructed more than 1300 Nand Ghars across 7 states in India. The Nand Ghars are equipped with televisions for e-learning, solar panels for reliable power, safe drinking water, clean toilets and have emerged as an ideal model for replication in other parts of the country. The project aims to transform lives of 8.5 crore children through 14 lakh anganwadis across the country.

The core services provided at Nand Ghars are pre-school education to children (3-6 years) through e-learning, BaLA designs and smart kits, nutrition through pre-packed hot cooked meals to children, pregnant and lactating women, healthcare through Mobile Health Van and support to Community Health Centre, women empowerment through skill, credit linkage and entrepreneurship development.

#JawaKummunitiKustoms Online Contest Winners Announced

Introduced with the intention of keeping the Jawa Kommuniti engaged during the lockdown, the #JawaKommunitiKustoms online contest witnessed a stirring response from avid Jawa fans, followers and virtual design artists alike. The contest, hosted on the brand’s Instagram platform got huge engagement with the online community, with over half a million users interacting with the content in some form. For a niche subject like motorcycle customization the response was heartening to see. This also led to a healthy number of entries for the judges to choose from.

The contest wrapped up with the announcement of three winners picked by a panel of judges including the Classic Legend’s executives and design team. Soheil Kalarickal, an art director from Bangalore topped the scoreboard for his rendition of a Jawa forty two reimagined as a mix of brat and café racer style. Milind Solanki’s Cockatrice bagged the 1st runner-up position. Milind is an architect from Surat and gave the Jawa a classical adventure touring twist. Shri Lohar, a polytechnic graduate from Belgaum, used to Jawa forty two to add a minimalistic sports-scrambler touch to the bodywork.

The winner will get a custom hand-painted commemorative Jawa fuel tank while all three on the podium will be awarded signed copies of “The Forever Bike” coffee table book by Adil Jal Darukhanawala that details out the journey of Jawa brand and its motorcycles spread across nine decades.

But that’s not all for the winners! All three will also get an opportunity to intern with the company’s Design Team at its headquarters and a chance to turn their design concepts into reality. Classic Legends has offered this internship to enable these budding designers to hone their skills in terms of design as well as fabrication techniques.

About the contest:

The Jawa Kommuniti Kustoms contest was held between April 29th- May 3rd. 2020 in an effort to enhance community engagement and keep spirits up during the Covid-19 lockdown. Jawa aficionados were invited to share custom concepts of Jawa Motorcycles via sketches or 3D renders on Jawa Motorcycles' official social platforms like Facebook, Instagram and Twitter. The advantage of a virtual contest was that participants could truly let their imaginations run wild, and the entries received were both brilliant and detail-oriented, making it truly difficult to pick a winner.

About Classic Legends Pvt. Ltd.

Classic Legends Pvt. Ltd. is an Indian company established to re-introduce iconic marquee motorcycle brands in the market. Classic Legends aims to become India’s first true lifestyle company and provide opportunities to consumers to relive the heritage of classic brands by co-creating exciting product and service offerings along with the motorcycling ecosystem.

Jawa is a motorcycle brand from Czech Republic, erstwhile Czechoslovakia, with a 90-year legacy, which in its heydays exported classic, well-engineered and rugged motorcycles to more than 120 countries. It entered the Indian markets in the early 1960’s. The twin aspects of Jawa motorcycles - its beautiful design and strong performance character helped it not only to win hearts but also win many world titles.

From its marquee brands portfolio, Classic Legends is currently bringing alive the Jawa, not simply as a brand but a way of life. Classic Legends has leveraged the best of its partner capabilities in design and engineering along with the global expertise, to launch products that capture the DNA and ethos, of the original Jawa.

3 Mahindra Financial Services Companies Recognised as India’s Best Workplaces 2020 by Great Place to Work Institute

Three companies from the Mahindra & Mahindra Financial Services sector, a leading provider of diversified financial solutions in rural and semi-urban India, have been recognized among India’s Best Companies to Work 2020 by Great Place to Work®️ Institute (GPTW).

Mahindra Insurance Brokers Ltd. ranked 10th, Mahindra Rural Housing Finance Ltd. ranked 19th and Mahindra Finance ranked 25th in the largest workplace study in India, representing the voice of more than 2.1 million employees across 21+ industries. According to GPTW, the companies earned this recognition for creating a Great Place to Work for all and excelling on the 5 dimensions of building a High-Trust, High-Performance CultureTM – Credibility, Respect, Fairness, Pride and Camaraderie.

Ramesh Iyer, VC & MD, Mahindra Finance and President, Mahindra Financial Services Sector said, “We are extremely delighted that three of our companies feature among India’s Best Workplaces 2020. We have always laid great emphasis on creating a high trust and high performance culture. Engaging with employees, respecting them, encouraging collaboration and inspiring them to go the extra mile to contribute to business, is what makes us a great place to work.”

Mahindra Finance was also ranked the 6th Best Large Workplace in Asia 2020 by Great Place to Work® Institute earlier this year.

Great Place to Work®️ Institute, is the ‘Global Authority’ for creating, sustaining and identifying High-Trust, High-Performance CultureTM. Considered the ‘Gold Standard’ in Workplace Culture Assessment, Great Place to Work®️ identifies Best Workplaces solely on the basis of Employee Feedback and quality of People Practices in an organization. No jury or individual can influence the results of the assessment.

About Mahindra & Mahindra Financial Services Limited

Mahindra & Mahindra Financial Services Limited (Mahindra Finance), part of the Mahindra Group, is one of India’s leading non-banking finance companies. Focused on the rural and semi-urban sector, the Company has over 6.8 Million customers and has an AUM of over USD 10 Billion. The Company is a leading vehicle and tractor financier, provides loans to SMEs and also offers fixed deposits. The Company has over 1,300 MMFSL offices and reaches out to customers spread over 3,70,000 villages and 7,000 towns across the country.

Mahindra Finance is the only Financial Institution from India to be listed on the Dow Jones Sustainability Index in the Emerging Market Category 2019. Mahindra Finance has been ranked 25th on the list of India’s Best Companies to work for 2020 and ranked 6th on the list of Best Large Workplaces in Asia 2020 by Great Place to Work® Institute.

The Company's Insurance Broking subsidiary, Mahindra Insurance Brokers Limited (MIBL), is a licensed Composite Broker providing Direct and Reinsurance broking services.

Mahindra Rural Housing Finance Limited (MRHFL) a subsidiary of Mahindra Finance provides loans for purchase, renovation, construction of houses to individuals in the rural and semi-urban areas of the country.

Mahindra Asset Management Company Private Limited (MAMCPL) acts as the Investment Manager of Mahindra Mutual Fund. On 29th April 2020 Mahindra Finance divested 49% stake in its wholly-owned subsidiary, MAMCPL to Manulife Investment Management Singapore Pte Ltd to form a 51:49 joint venture.

The Company has a Joint Venture in the US, Mahindra Finance USA LLC, in partnership with De Lage Landen, a subsidiary of Rabo Bank, for financing Mahindra vehicle’s in the US.

The Company has recently formed a Joint Venture in Sri Lanka, by acquiring a 38.2% stake in Ideal Finance Ltd. This JV will focus on providing a diversified suite of financial services to the Sri Lankan market.