IBM Advances Cloud Pak for Security to Manage Threats Across Tools, Teams & Clouds

1.      Open platform leverages AI and automation to streamline threat management across hybrid cloud environments and disparate security tools

2.      Industry-first ability to connect threat management, data security and identity within a single platform

3.      New turnkey security services to address cybersecurity skills shortage and remote workforce

IBM Security today announced new and upcoming capabilities for Cloud Pak for Security, including a first of its kind data security solution that allows companies to detect, respond to and protect against threats to their most sensitive data across hybrid cloud environments. Designed to unify previously disconnected security technologies, IBM has expanded Cloud Pak for Security to include new data sources, integrations, and services that allow security operations teams to manage the full threat lifecycle from a single console.

With these upcoming capabilities,[1] Cloud Pak for Security will include access to six threat intelligence feeds, 25 pre-built connections to IBM and third-party data sources, and 165 case management integrations – which are connected through advanced AI to prioritize threats, and automation playbooks to streamline response actions for security teams.

Sudeep Das, Technical Leader, IBM Security Systems, IBM India/South Asia said – "As cloud and remote work have dispersed the traditional IT perimeter, security response teams need deeper insights across hybrid cloud environments – including user, identity, and data-level security. Built on open, cloud native technologies, Cloud Pak for Security is the first-of-its kind capability which brings data security directly into the threat management lifecycle. Cloud Pak for Security offers a streamlined threat management lifecycle using advanced AI, analytics and automation. Further, it is a single, unified user interface that connects the entire threat management process via end-to-end workflows - from initial detection through response. Indian companies witnessed an average of ₹140 million total cost of data breach in the 2020, an increase of 9.4% from 2019 as per our Cost of Data Breach report. These advancements in Cloud Pak for Security will augment the security posture of Indian organizations and empower them to get deeper intelligence by linking data-level insights and user behavior analytics with threat detection.”

As cloud adoption and remote work have dispersed the traditional IT perimeter, security response teams can benefit from deeper insights into security across hybrid cloud environments. User behavior, identities and data security have traditionally been siloed from threat management. With the upcoming new capabilities, Cloud Pak for Security will become the first platform in the industry to connect data-level insights and user behavior analytics with threat detection, investigation and response.

Today IBM is announcing capabilities to advance the Cloud Pak for Security even further, including:

1.       Coordinated Threat Response + Data Security: IBM has developed a new industry-first approach to provide security teams with visibility into data activity, compliance and risk, without needing to leave their primary response platform. The new built-in data security hub, scheduled for general availability in Q4, allows analysts to quickly gain context into where their sensitive data resides across hybrid cloud environments, as well as who has access to it, how it is used, and the best way to protect it. Bridging the disconnect between data security and threat management can reduce the timeline for responding to data breaches, which currently take more than six months to identify and contain on average for recently surveyed organizations.[2]

2.       Access to Industry Leading Threat Intelligence: Cloud Pak for Security is expanding its collection of threat intelligence, helping clients detect early warning signs of active threat campaigns impacting companies around the world. In addition to IBM’s X-Force Threat Intelligence Feed, the platform will provide pre-built integrations for five additional threat intelligence feeds from third-party sources, including AlienVault OTX, Cisco Threatgrid, MaxMind Geolocation, SANS Internet StormCenter and Virustotal scheduled for general availability in Q4, and additional threat feeds expected to be added in 2021.

3.       Dedicated Services and Support: IBM is launching new dedicated security services to help organizations modernize their security operations with Cloud Pak for Security, leveraging a holistic approach connecting products and services. With a wide range of flexible service options, IBM experts can help clients deploy and manage Cloud Pak for Security across any environment, including end-to-end threat management, managed security services, as well as strategy, consulting and integration support.

“Complexity is the greatest challenge facing our industry, forcing resource-strapped security teams to manually connect the dots between disparate tools and sources of security data,” said Justin Youngblood, Vice President, IBM Security. “Cloud Pak for Security is built on open, cloud native technologies from the ground up to connect any tool within the security ecosystem. With these updates, we will be the first in the industry to bring together external threat intelligence and threat management alongside data security and identity, helping organizations to modernize their security operations and create the foundation for a zero-trust security strategy.”

Open Connections Across the Security Ecosystem

Cloud Pak for Security leverages open technologies to create an interoperable foundation and deeper connections between the IBM and third-party tools. For instance, the platform uses STIX-Shifter, an open-source library that allows security analysts to search for threat indicators across all connected data sources with a single query. Additionally, Cloud Pak for Security is built on Red Hat OpenShift, providing an open, containerized foundation that can be easily deployed across on-premise, public and private cloud environments. 

This open approach allows Cloud Pak for Security to be more than simply a collection of security capabilities, but rather a platform to fully integrate security processes across tools and clouds. The platform uses advanced AI, analytics and automation to streamline the full lifecycle of threat management – including native capabilities for Security Information and Event Monitoring (SIEM), Threat Intelligence, User Behavior Analytics, Data Security and Security Orchestration Automation and Response. These capabilities are delivered through a single, unified user interface that connects the entire threat management process via end-to-end workflows, from detection through response.

Through IBM Security’s participation in the Open Cybersecurity Alliance, the company will continue to work with the community to advance the development and adoption of open technologies to make security more interoperable.

Unified Product and Services Approach

Cloud Pak for Security’s open framework makes it an ideal solution for collaboration between security teams and external service providers that augment companies’ security skills and expertise. Cloud Pak for Security also supports multi-tenancy, enabling service providers to leverage a single instance of the platform to serve multiple companies and sub-organizations while keeping their data isolated.

The extensive capabilities of Cloud Pak for Security can be supported by and integrated with IBM Security Services, with unified offerings that connect technologies and services. Clients can take advantage of X-Force Threat Management, an ongoing, end-to-end threat management service that uses a programmatic approach to help clients mature their overall threat management strategy over time. Companies can also leverage a wide variety of IBM Managed Security Services, using Cloud Pak for Security to facilitate real time collaboration and visibility between clients and service teams. Alternatively, companies can leverage IBM Security expert consultants to help them plan for, deploy and integrate the Cloud Pak for Security with their existing security investments.

To learn more about IBM Cloud Pak for Security and stay up to date regarding its latest capabilities, visit the website here. You can also register for the webinar which will take place October 29, 2020 at 11:00 a.m. EDT. 

India’s first ‘Savior Sibling’ Saves Her 6-Year-Old Brother Suffering from Thalassemia

  

* A Savior Sibling born through IVF with embryo selection saves 6-year-old brother after successful Bone Marrow Transplant

This rare and unique treatment is recognized as India’s first-ever ‘Savior Sibling’ born through IVF

In a virtual press conference today, Nova IVF Fertility shared the successful treatment of a 6-year-old boy who was saved by India’s First Savior Sibling.

Baby Kavya was conceived through IVF to be HLA-matched, suitable to transplant bone marrow to her brother who was suffering from Thalassemia Major. Through a novel technique in Assisted Reproductive Therapy called PGT-M (Pre-Implantation Genetic Testing for Monogenic Disorder) with HLA (Human leukocyte antigen) matching Baby Kavya was born to save the older brother.

Mr. Sahdev Singh Solanki and Mrs. Alpa Solanki’s second born, Abhijeet was diagnosed of Thalassemia Major and was dependent on a monthly blood transfusion. The Solanki’s were advised Bone Marrow Transplant as the last resort to treat their child. However, the inability to find the required match for Human leukocyte Antigen (HLA) made the family helpless. In desperation to save their young child they consulted doctors across the country. Mr. Solanki himself did thorough research to find treatment options and came across the term “Savior Sibling”. This gave him a ray of hope and he reached out to Dr. Manish Banker, Medical Director, Nova IVF Fertility at his Ahmedabad Clinic for executing this novel clinical approach to save his son.

On conducting such a unique medical marvel, Dr. Manish Banker, Medical Director, Nova IVF Fertility, said, “We are extremely thrilled to be part of a reproductive history in India to create the first-ever ‘savior sibling’ through medical marvels of ART. Considering the unavailability of matched human leukocyte antigen (HLA) donors for the transplant in Abhijeet’s case, we decided to opt for IVF with HLA matching with Pre-Genetic Diagnosis & Screening test (PGD and PGS). This process for HLA typing is an established method for conceiving a child who may donate cord blood or hematopoietic stem cells for transplantation to save a respective sibling with a critical illness. Bone marrow transplantation from an HLA-identical donor is the best therapeutic option for thalassemia major patients.”

“Though we were aware of the science behind this, the father himself approached us basis his research on this, which is highly commendable. Considering this was the first-ever case in the history of Indian IVF, we took the challenge and created a healthy ‘Savior Sibling’ to save her elder brother.” He added.

The medical experts at Nova IVF executed this first-ever treatment at the Ahmedabad Center, led by Dr. Banker, where the mother had 18 embryos biopsied, of which only one embryo was found to have matching HLA, normal on Preimplantation genetic testing for monogenic diseases (PGT M), and was thus transferred successfully in its very first cycle. This resulted in a successful pregnancy, delivering a healthy baby girl who was found to be 10/10 HLA match with the sibling. In March 2020 having the perfect HLA match, a successful bone marrow transplant was done for the affected child at CIMS Hospital, who is now healthy and risk-free.

Commenting on the success, the father, Mr. Sahadev Solanki, said, “We had consulted many doctors across the country, but when nobody could assure successful transplantation, I decided to do whatever it takes to save my young child. Even though with limited medical knowledge, I researched and went through a pile of medical journals and case studies of similar cases to come up with something that can save my child from this deadly disease. Though our country now offers some of the best fertility solution centers, we needed the technological backbone of expert embryologists to perform this medical marvel and that is when we approached Dr. Banker in Ahmedabad. Hearing me patiently, Dr. Banker assured me and he did so with utmost success. 

Now looking at both children gives me immense pleasure to see them full of life for the years to come. I am heartily thankful and will always be indebted to Nova IVF Fertility for giving us hope to live”

Dr. Deepa Trivedi, Programme Director, Sankalp CIMS BMT Unit, CIMS Hospital, said, “PGD for single gene disorders along with HLA typing offers the possibility of having a matched sibling donor that can save a sick sibling afflicted with the same genetic disorder. It is labour and cost intensive and requires multidisciplinary collaboration. It might be a viable option to a select group of families who want to avoid recurrent pregnancies, pre-natal testing and termination of pregnancy if fetus is affected.”

About Nova IVF Fertility:

Nova IVF Fertility (NIF) is one of the largest service providers of fertility treatment across India. With an average IVF experience of over a decade our highly experienced IVF specialists and well–trained embryologists, Nova IVF Fertility have successfully achieved over 35,000 clinical pregnancies in the country. With vast international expertise, NIF brings exceptional and ethical standards of processes, protocols, and policies to India. Through personalized treatment plans of medical management, basic ART, and advanced ART – all procedures aim to significantly improve the chances of a positive pregnancy. NIF currently operates 25 fertility centers across 18 cities in India (Ahmedabad (1), Bengaluru (3), Chennai, Coimbatore, Hisar, Hyderabad, Indore, Jalandhar, Lucknow, Mumbai (3), New Delhi (2), Kolkata (2), Pune (2), Surat, Vijayawada, Patna, Ranchi, and Siliguri).

43% of Indian Consumers have Witnessed Decline in Household Income Since Onset of COVID-19: Experian Global Insights Report

* Experian’s research shows major shifts in consumer behaviour and business strategy pre- and post-COVID-19, with economic perception at the epicentre

The pandemic has created a seismic shift in the volume of online activity and experiences in the past few months. Experian’s Global Insights Report, one of the first large-scale surveys assessing the impact of COVID-19 on businesses and consumers explores the major shifts in consumer behaviour and business strategy pre- and post-COVID-19, with economic perception at the epicentre. According to the report, 43% of Indian consumers have indicated that their household income has declined since COVID-19, thereby, being concerned about their well-being. Not just consumers, even businesses have been concerned about the well-being of their customers. This is evident in the fact that 53% of Indian businesses have highlighted health & safety of customers as the biggest challenge.

Experian – a leading global information services company – surveyed 3,000 consumers and 900 executives working in retail banks, e-commerce, consumer technology and telecommunications. Respondents spanned India, Japan, Singapore, Australia, Brazil, France, Germany, Spain, the United Kingdom and the United States. The survey was conducted in June and July and covered consumer and business economic outlooks, financial well-being, online behaviour and more.

The report also says that 74% consumers in India more strongly indicated that businesses are doing a better job at communicating about the use of their personal data since COVID-19. This shows that not only are people relying on mobile and digital channels to bank, shop, work and socialise, they’re also closely watching how businesses respond to their needs.

Key highlights for India from the Experian’s Global Insights Report - Consumer Survey:

* Increase in activities online during the pandemic as compared to before - General Media (46%), OTT (42%) and Online Grocery Shopping (42%) being the top three online activities

* Approx. 50% of consumers expect an increase in online spending; both the short-term and within the next 12 months

* Consumers face challenges in paying internet/cable (36%), utilities (35%), credit card (33%) and mobile phone (32%) bills; a significant increase from the pre-COVID-19 days

* Consumers have taken significantly stronger actions in almost every possible way to deal with their current financial circumstance; Creating / using more personal budget (31%), reducing discretionary spending (25%) and saving more in emergency funds (24%) are the top three actions currently taken

* India has seen the largest incremental growth in the use of digital banking and payment methods since COVID-19, with 16% increase in the use of mobile wallets and 14% increase for retail apps

* Indians indicate high concerns regarding conducting activities online - Credit card being stolen (42%) and Online privacy (41%) being the top two concerns

* Consumers are most trusting of retail banks (69%), technology providers (75%), payment system providers (72%) and streaming services (71%)

* There has been an increase in the number of consumers (76%) wanting to know what their data is being requested for

* Financial data (38%) is the type of personal data that consumers are most concerned about protecting; followed by protection of personal information (19%)

* Consumers expressed the highest willingness (39%) to share personal data since COVID-19

* 70% of consumers want more control over their personal data. Furthermore, consumers in India are driving the APAC increases from pre-COVID-19 period – opening new online account (+7% jump to 52%), opening bank account (+6% jump to 50%) and applying for credit card or loan (+6% jump to 47%)  

* Indian consumers feel the most secure with physical biometrics (96%) and the use of PIN code (90%)

Commenting on the consumer findings for India, Sathya Kalyanasundaram, Country Head and Managing Director, Experian India said, “The impact of the COVID-19 pandemic has caused both businesses and consumers to shift their priorities. With social distancing becoming the norm, consumers have had to get out of their comfort zone by letting go of conventional methods and adapting to the digital way of conducting their daily affairs. This also means that banks and financial institutions must be very careful in how they treat consumers in these tough times. Our data shows that 54% of customers would give an organisation more business if they felt they were treated fairly during the pandemic, higher than the APAC figure of 41%.”

He further added, “At Experian India, we believe that consumers should be in control of their data. In keeping with this, we enabled free and unlimited credit report downloads from our website whilst continuing to educate consumers on financial prudence in this challenging period.”

The survey also found that since the start of the pandemic, top priorities for businesses include the health and safety of their customers and employees, as well as adjusting their operations to ensure business continuity. Organisations are utilising digital solutions to manage customer credit risk, with 26% planning to use on-demand cloud-based decisioning applications.

Key highlights for India from Experian’s Global Insights Report – Business Survey:

* 53% of Indian businesses indicate health & safety of customers as the biggest challenge; followed by 48% health & safety of customers and 38% operational adjustments

* Since the pandemic, nearly 40% of businesses in India and Singapore have implemented strategies related to recognizing their customers across their various platforms – the highest within the APAC region

* Customer authentication solutions receiving the most focus involve Know Your Customers (50%), security measures in customers’ devices (49%) and multi-factor/two-factor authentication (48%)

* Since COVID-19, the most common fraud detection and protection methods include security measures in customers’ devices (20%), physical biometrics (19%), Customer Identification Programme (17%) and PIN codes (16%)

* 82% of Indian businesses indicate the highest intention to increase fraud management budgets in the next 12 months as against 69% in APAC; however, 61% businesses are much more likely to place a focus on revenue generation than putting resources on fraud detection as compared to 47% in APAC

* High intention to implement policy rules (31%), automated decision management (30%) and hybrid of business rules (29%) are the top three solutions most used to assess & manage customer credit risk and credit worthiness

* 84% of Indian businesses are increasing their budget for analytics and customer creditworthiness in the next 12 months

* There has been an erosion in the confidence of businesses in India in the effectiveness of analytics models related to consumer credit risk (from 83% to 76%) and consumer collections decisions (from 81% to 76%)

* Nearly 81% of the businesses have increased an adaption of Artificial Intelligence to help manage their businesses in the current marketplace 

* Businesses have re-examined their existing analytics models and are looking for ways to improve with 24% relating to the hybrid approach to analytics models

* 99% of the businesses in India strongly consider (very/somewhat) the lack of historical data and its impact on analytics performance; to make up for this lack of historical data, 67% of businesses prefer asking customers to contribute more information

Commenting on the business findings for India, Sathya Kalyanasundaram, Country Head and Managing Director, Experian India said, “I have always believed that challenging times present the best opportunities. While businesses have had to grapple with the onslaught of the pandemic initially, we have also witnessed greater agility and adaptability in the banking, financial services and insurance sector. We are working closely with financial institutions by providing them with on-premise and cloud-based solutions. Experian’s latest cloud based PowerCurve suite of decision management solutions enable companies to automate decisions across an increasingly complex customer journey. We provide the option of pre-configured solutions for organisations that prefer standard, ‘out of the box’ applications, as well as solutions that can be tailored to their infrastructure and requirements for rapid deployment, so clients can quickly adapt their decisioning strategies to minimise risk, preserve valuable relationships and remain fair and compliant.”

An example of a bank successfully digitising their processes on the cloud is AU Small Finance Bank, a retail bank. AU Small Finance Bank digitised its previously manual lending process with Experian’s PowerCurve Customer Acquisition. The end-to-end solution involved digitising and automating the application and approval process for a new credit card offering, enabling automated decisioning, and provided the ability to host and configure scorecards.  

“Being able to tap into Experian’s data, decisioning software and analytics has helped us accelerate our own transformation while we continue to redefine the banking experience for consumers in the markets we serve,” says Mayank Markanday, President and Chief Risk Officer at AU Bank. “Out-of-the-box decision management technology saves us time and resources, so we can focus on delivering innovative solutions to meet our customers’ needs, always guided by the principles of simplicity, inclusion and progress for all.” 

Tinder Introduces Prompts: A New Way to Share Bite-Sized Glimpses into your Personality

* ‘2020 has finally made me realize’ is the most adopted prompt in Bangalore

* Did you hear? There’s a new way to put your personality front-and-center on Tinder.

Writing the perfect bio can be nerve-wracking, and so to help members better introduce themselves to potential matches, Tinder recently released Prompts, a new in-app feature that lets members respond to questions or finish a sentence to display on their profile.

Text Prompts can be added directly to your profile, right alongside your photos. Aside from helping your profile stand out they can also serve as icebreakers. “With Text Prompts, we’re excited to give our members a way to highlight their personalities with just a few words. We hope that these will lead to more connections and conversations during a time when many of us are craving a change in routine and someone new to talk to” added a Tinder spokesperson.

How is Bangalore using Prompts? We’re glad you asked.

Tinder analysed the top 5 most adopted Prompts in Bangalore, and of all available Prompts, ‘2020 MADE ME REALISE’ had the highest adoption, signaling how much our daily lives have changed from every perspective--including how we gauge compatibility with potential matches on Tinder. “The one thing I won’t take for granted again” comes in at number 2, displaying how members' profiles reflect this  unprecedented time we’re all in together.

Here’s how it works.

1. It just takes three taps to access Text Prompts: 👉 Profile icon in the top right corner of your app 👉 Add Media 👉  Text Prompt

2. Pick your fave(s): Tap the dice in the top left of the screen to see more Prompts. Pick the one(s) that speak to you and provide a response. These will display as a photo, so when potential matches swipe through your profile, they’ll be front-and-center. Here are some of our favorites!

I’m talking to my pet about…

I’m finally binging 

3. That’s it: once you tap “Add”, your Prompt response will be added to your profile photos. You can rearrange the order of the photos, or remove them - at any time. 

4. Check back 👀 New Prompts will appear as weeks go by. So if you’re looking to refresh your profile as the world dates digitally, look no further than Prompts. After all, we know we aren’t going anywhere to take new photos. 

On Tinder social distancing has not meant disconnecting. Forced to stay home, browsing Tinder became a way to socialize; conversation on Tinder has been up an average of 39% and the average length of conversations is 28% longer. In India, May 3rd was the peak of this chattiness: on that day Tinder members sent an average of 60% more messages vs. the start of lockdowns in early March - above the global average. At its peak, swipe volume* among members in India was up 32%.*

*The information included in this campaign represents overall Tinder trends, not the personal information of any specific, identified individual or member.

Grinntech Signs MoU with Government of Tamil Nadu; Appoints Mr. E. Balasubramoniam as President

 

Grinntech, an investor-backed start-up specialising in Lithium-Ion batteries for EVs and energy storage systems announced the next step of their growth plans with two significant announcements.

MoU with the Government of Tamil Nadu

On Monday, 12 October, 2020, Grinntech executed an MoU with the Government of Tamil Nadu which outlines the Company’s intent to establish a Battery and Battery Management System manufacturing facility in the state of Tamil Nadu to cater to the anticipated growth of Electric Vehicles (EVs) in India.

Grinntech, which has attracted several industry veterans as investors since its incubation at IIT-Madras Research Park, already operates its R&D and pilot manufacturing facility in Chennai. In addition, the Company has outlined plans for outlay of almost Rs. 100 Crores for R&D, product development and production facilities which will lead to the employment of 250 staff over the next five years. The company has showcased a range of high-tech Lithium-Ion batteries, along with their proprietary Battery Management Systems, suitable for 2-wheelers, 3-wheelers, light vehicles and farm tractors. The company is engaged in discussions with a number of OEM manufacturers and fleet operators for supply of Batteries and related systems.

“We are grateful to the Government of Tamil Nadu for their vision in attracting investment in the fast-growing EV and EV-component sectors. Chennai has had the label of “Detroit of the East”. Now, as the global auto industry shifts to electrification, this initiative by the Government of Tamil Nadu will help India’s EV industry be future-ready”, said Puneet Jain, Co-Founder of Grinntech.

Appointment of Mr. E. Balasubramoniam

Taking yet another step in their growth strategy, Grinntech also announced the appointment of Mr. E. Balasubramoniam as President of Grinntech. Mr. Balasubramoniam, brings over 35 years of experience in the auto industry including prior leadership roles in Maruti-Suzuki, Tata Motors and most recently as Senior Vice-President at Ashok-Leyland and CEO of the Nissan-Ashok Leyland JV. Mr. Balasubramoniam is an alumnus of IIT-Madras.

“We welcome Mr. Balasubramoniam to Grinntech. Our culture of blending the innovation and entrepreneurship of a start-up with domain competence needed for managing complex operations will benefit from his wealth of experience in key areas such as business development, program management, sourcing, and operations.” said Nikhilesh Mishra, Co-Founder of Grinntech.

Dr. V. Sumantran (former Vice-Chairman of Ashok Leyland) and Mr. Lakshminarayan (Co-Founder and former Vice-Chairman of Cognizant) as Directors of Grinntech extended their welcome to Mr. Balasubramoniam and expressed their confidence that with the Government of Tamil Nadu’s timely policy, Grinntech would emerge a strong contributor to India’s goals for self-reliance and to the globally emergent EV industry.

About Grinntech

Grinntech is an investor-backed, growth-phase start-up, specialising in Lithium-Ion batteries for EVs and energy storage systems along with our proprietary BMS and connectivity systems. Our product range has established new standards in safety, intelligent controls, energy-density, power-management, long life, and reliability. Apart from a range of standard products, we also undertake custom battery development for customers in India and abroad. 

Grinntech works closely with leading global technology companies and cell suppliers, bringing cutting-edge advances in semiconductor, materials, cell-chemistry and formats. We employ contemporary techniques in our manufacturing including cell-characterisation and production testing. Our expertise has been recognised by our customers, many of whom are market leaders, and we are working with many of them to power their future EV endeavours.

Magicbricks Will Enable Online and Offline Assistance During the Entire Application Process

* Tools and expert advice will help applicants make the correct decisions

* Instant approval of pre-approved home loans to make negotiations better

Widening its portfolio of Property Services marketplace, Magicbricks, India’s No.1 property site, today announced its entry into Home Loans services with the country’s 13 leading lenders in its bid to offer homebuyers a plethora of integrated services from the discovery to the transaction phase. In order to enable homebuyers to avail medium to long term loans to finance their dream home, Magicbricks’ latest offerings will allow loan seekers to compare the best available offers and rates, gain online and offline assistance during the application process and also get a wide range of home loans including balance transfers and loan against property.

Magicbricks’ Home Loan platform, offers visibility on the best rates and schemes offered across 13 partner banks that include SBI, PNB HFL, HDFC LTD, ICICI Bank, Bank Of Baroda, Cholamandalam, Hero Fincorp, Sundaram Home Finance LTD, L&T Housing Finance LTD, IIFL, IDFC First, Bajaj Finserv and Federal Bank. Magicbricks will enable loan seekers in better decision making with the help of tools and expert advisory. Loan seekers can start by filling out the application form, based on which Magicbricks associates will provide them free expert advice on the best loan offers for their segment, and take away all their hassles including online or doorstep pickup of supporting documents and submission to the banks. Magicbricks will then coordinate with the banks while they review the forms/documents for approval, and assist the customer right up to the actual disbursal. Through this service, homebuyers can also avail pre-approved home loans that would enable them to negotiate better with the seller.

Excited at the launch of the new service, Mr. Sudhir Pai, CEO, Magicbricks, said: “We are extremely delighted to widen our Property Services with our latest offerings, Home Loans. It is aimed at offering a seamless experience to the home buyer in identifying and availing the best loan for the dream home. Increasingly, consumer preference is shifting toward affordability as around 50% of home buyers are now looking for properties within Rs.20-Rs.50 lakh range. With interest rates now at an all-time low our Home Loans service will help home buyers simplify this complex process and manage budgets smartly. We will be adding more services to our Property Services marketplace as we move ahead in our journey of becoming India’s first full-stack service provider in the real estate space.”

The Home Loan facility is in the long list of smart property solutions that Magicbricks would be launching in the next few weeks. Through Magicbricks’ Home Loans loan seekers can use calculators for EMI calculations, check eligibility, balance transfer, and also get access to key FAQs and articles to understand the nuances of the loan process.  The service also allows loan seekers to view and compare the rates and offers that are available for their loan type, along with the benefits and the eligibility criteria across all banks. For every partner bank and financial institution, there are dedicated pages listing offers, benefits, eligibility criteria, and lists of documents needed for the application. Loan seekers will also get access to a dashboard that would enable them to keep track of their application status.

About Magicbricks:

Magicbricks is India’s No.1 property site. With monthly traffic exceeding 20 million visits and with an active base of over 1.4 million+ property listings, Magicbricks provides the largest platform for buyers and sellers of property to connect with each other in a clear, transparent manner. With this in mind, Magicbricks has innovated several product features, content and research services, which have helped us, build the largest audience pool.

Fincare Small Finance Bank Disburses First Loan Under PM Svanidhi Scheme

Fincare Small Finance Bank (FSFB) today reports the disbursement of its first loan under Prime Minister Street Vendor’s Atmanirbhar Nidhi Scheme (PM SVA Nidhi). The scheme is aimed towards empowering and enabling the street vendors. The loan of Rs 10,000/ - was disbursed to Mrs. Lakshmamma, a coconut seller in Bellandur, Bangalore. The Bank with the help of its digital initiatives was able to ensure that the total cycle of sanctioning the loan and withdrawal was hassle free.

The PM SVA Nidhi scheme is aimed at empowering individuals from marginalised sections and promoting government’s agenda of building a self-reliant India.

Mr. Rajeev Yadav, MD & CEO, Fincare Small Finance Bank said, “We are proud to be part of the PM’s vision of providing small working capital loans to street vendors under the PM Svanidhi Scheme. As a leading small finance bank we aim to take this social initiative forward and help in creating a culture of self-reliance for marginalized sections to overcome financial stress caused by the pandemic and empower them to be stronger financially.”

As of September 2020, Fincare SFB serves over 26.5+ Lakh customers in 19 States/Union Territory, has deposits worth Rs. 5,200 Crore, its loan book stood at Rs. 5,290 Crore and has a workforce of 7,700 +. With an aim to transform banking for its customers, Fincare SFB strives to cater to the needs of the base of the pyramid – micro and small enterprise segments in rural India.

About Fincare Small Finance Bank:

Fincare Small Finance Bank commenced banking operations on July 21, 2017 under Section 22 of the Banking Regulation Act, 1949, after receiving the final license from the RBI in May 2017. Fincare SFB has been included in the Second Schedule to the Reserve Bank of India Act, 1934, published in the Gazette of India dated April 13, 2019.

Powered by technology, Fincare SFB has set the vision to be the first of its kind ‘Rurban’ Bank enabling financial inclusion of its rural customer base and providing modern, innovative and digital solutions to the digitally-savvy, metro and urban customers.