Elgi Equipments Limited Records Fourth Positive Quarter And FY 2020-21 Results

Elgi Equipments Ltd, manufacturer of Air Compressors, announced today the results for the fourth quarter and financial year ended 31st March 2021. Consolidated PAT for the quarter was Rs. 43.36 Crore compared to Rs.1.05 Crore in the same period in 2019-2020. Consolidated PAT for the financial year was Rs.102.49 Crore compared to Rs. 42.57 Crore in 2019-20.

Consolidated sales for the fourth quarter was Rs. 610 Crore as against Rs. 455 Crore in the corresponding quarter in 2019-2020. Consolidated sales for the financial year 2020-21 was Rs. 1924 Crores as against Rs.1829 Crores in 2019-20.

The standalone PAT for the fourth quarter was Rs. 48.85 Crore compared to Rs. 42.01 Crore in the same period in 2019-20. The standalone PAT for the year was Rs. 105.09 Crore compared to Rs. 100.42 Crore in 2019-20

The Board has recommended a dividend of Re.0.80 per share (80%) for the year 2020-21, subject to approval of the shareholders.

The compressor business performance in the domestic market was commendable in the fourth quarter while performance on an annualized basis saw marginal growth over last year. The business has performed well in all of the global markets it is present in.

In a very challenging environment, sales of the automotive business witnessed improvement over the same period of last year.

Outlook for 2021-22

The effects and longevity of the pandemics are still unknown and this would certainly have a bearing on the business for 2021-22. Barring this, the Company expects to perform reasonably well.

About ELGi: Elgi Equipments Limited is a global air compressor manufacturer with a broad line of innovative and technologically superior compressed air systems. ELGi has consistently worked towards ensuring that its customers achieve their productivity goals while keeping the cost of ownership low. ELGi offers a complete range of compressed air solutions from oil lubricated and oil free rotary screw compressors, oil lubricated and oil free reciprocating compressors and centrifugal compressors, to dryers, filters and downstream accessories. The company’s portfolio of over 400 products has found wide application across industries. 

Hero Motocorp To Ramp Up Production With All Manufacturing Plants Resuming Operating From May 24, 2021

Hero MotoCorp - the world’s largest manufacturer of motorcycles and scooters – is gearing up towards a gradual resumption of operations by starting production at all its manufacturing plants in India from Monday, May 24th.

The Company had already commenced single shift production at three of its plants – Gurugram and Dharuhera in Haryana and at Haridwar in the northern hill state of Uttarakhand – from Monday, May 17. 

The other plants of Hero MotoCorp in India – Neemrana in Rajasthan, Halol in Gujarat and Chittoor in Andhra Pradesh, will also start single shift operations from May 24th.  The Global Parts Centre (GPC) at Neemrana will also be operational from May 24th.

In addition to producing for the domestic market in India, these plants will also have enhanced focus on catering to the Global Business (GB) markets across the world. 

The Company continues to monitor the situation closely and will move to double-shift production gradually. 

Hero MotoCorp has commenced a concerted initiative across the organization as top priority to get the employees in the age group of 18-45 vaccinated. More than 90% of Hero MotoCorp employees above the age of 45 have already been vaccinated. 

Strict safety and hygiene protocols are in place at all plant locations and offices in preparation for the gradual resumption of operations. 

Snap Announces New Features, Latest Updates And AR Experiences At Annual Partner Summit

* Announces New Augmented Reality Tools and Camera Experiences

* Introduces the Next Generation of Spectacles

* Launches Story Studio: a New Standalone app Offering  Powerful Editing Tools to Creators

Snap Inc. held its third Snap Partner Summit virtually with a keynote address by co-founders Evan Spiegel and Bobby Murphy, as well as other team members from across the company, announcing new products and partnerships across developer, creator and augmented reality platforms.

This year’s Partner Summit is the most comprehensive look at the company’s long-term vision for its camera— showcasing over a dozen new partnerships and partner-powered innovations that help people express themselves, live in the moment, learn about the world, and have fun together.

The company announced that Snapchat reaches over 500 million monthly active users with roughly 40% of its community located outside of North America and Europe. In India, Snapchat has grown DAU over 100% year-over-year in each of the last five quarters.

Snap believes these announcements will help deepen Snapchatter engagement across the services, onboard more developers and creators to power experiences its community loves. This ultimately gives business and ad partners new ways to leverage Snapchat, from AR to Maps to Minis, that drive their businesses. A core theme of the summit this year is also ‘utility’ — whilst these announcements are fun, they also deliver concrete business solutions for the partners, and utility for the community.

The announcements span three key areas — Augmented Reality, Developers, and Creators.

Augmented Reality

New Spectacles bringing AR to life

Snap Inc. unveiled the next generation of Spectacles, its first pair of glasses that bring augmented reality to life. Not for sale and designed for creators, Spectacles enable augmented reality creators to discover new ways to fuse creativity and utility through immersive experiences built in Lens Studio. Designed from a human-centric approach, Spectacles tap into the senses of sight, touch and sound to bring 3D Lenses to life.

Spectacles are fully integrated with Lens Studio. This powerful desktop application designed for augmented reality creators and developers is used to build and distribute Lenses across Snap’s AR platform. Through Lens Studio, creators can wirelessly push their Lenses to Spectacles directly for rapid testing and iteration, allowing creators to build and interact with their Lenses in real time. Snap’s Spatial Engine within Lens Studio enables creators to build reactive, multi-faceted Lenses that leverage six degrees of freedom and hand, marker, and surface tracking, grounding Lenses in the physical world and realistically bringing AR creations to life.

Introducing Scan to the home screen + Screenshop for e-commerce

More than 170 million Snapchatters use Scan every month, and now Snapchat is adding Scan to the home camera screen. Scan matches what you see through the camera with relevant AR experiences.

Screenshop is a new Scan feature: when you Scan a friend’s outfit or your own saved photos, it helps you shop similar looks with recommendations from hundreds of brands. This builds on the existing Scan capabilities, which can use the Snapchat camera to identify types of plants, dog breeds, wine bottles, car models, songs etc. through partner integrations.

AR Shopping and Business Solutions

With over 200 million Snapchatters engaging with AR daily, Snap has added a new round of technically-advanced and fashion-forward features that make virtual shopping and ‘try-on’ experiences that much more realistic, accurate, and easy to use. Snap is introducing several new AR try-on experiences alongside fashion partners:

Farfetch is reimagining retail using 3D Body Mesh and new voice-enabled controls, letting Snapchatters now say what items they’re looking to browse and try on in AR.

Prada is tapping into new gesture recognition capabilities that let shoppers signal to the camera when they want to try on another item.

Public Profiles for Businesses

Now any partner can establish a permanent presence on Snapchat to showcase their best AR Lenses and Stories — plus a ‘Shop’ page where Snapchatters can browse and buy, which turns Snapchat into a new organic point of sale. Snap has been beta testing this since July 2020. Eventually, Public Profiles will also enable businesses to integrate with the Map, adding more reach across the core tabs of the app.

Launch of Connected Lenses

For the first time, friends can interact with each other through Lenses, from across the room or across the world. For example, build a LEGO kit together, wherever you are.

New API-powered Lenses

Brands can soon seamlessly build AR Shopping Lenses by simply uploading their product catalogues and 3D product assets through the API in Business Manager. Snapchatters using these Lenses will get real-time product and pricing updates, and brands will see new analytics on Lens usage. In addition to shopping, partners like Major League Baseball and Strava will now feed real-time scores and stats right into Lenses through Snap’s API.

Introducing Lens Studio 4.0

Snap’s AR creator ecosystem is booming: with 200,000+ Lens Creators around the world, who have made nearly 2 million Lenses, that have been viewed by Snapchatters more than 2 trillion times. The updated Lens Studio, which is free desktop software, adds 3D Body Mesh, Cloth Simulation, and a Visual Effects Editor that make AR look and move more realistically.

Developers

Snapchat is an increasingly indispensable platform for developers — there are now over 250,000 developers with Snap Kit, nearly 30 million people playing Snap Games every month. Snap also announced a new feature called Map Layers.

Introducing Map Layers

This important new feature layers specialized experiences from partners and Snap right on the Map, personalized for you. Partner brands like  Infatuation’s Layer shows you great restaurants, Ticketmaster’s Layer shows you which concerts are playing where, and a Snapchatter’s own Memories Layer shows you on the Map where you took your favorite saved Snaps. Snap is starting with select partners.

New Camera Kit partnerships with Disney and Bumble

They bring the technology and fun of the Snapchat camera right into partners applications. This fall, in celebration of the Walt Disney World® Resort 50th anniversary, Snap is collaborating with Disney PhotoPass® Service to bring Snap’s Camera technology to Walt Disney World Resort through Camera Kit. Launching today, Bumble matches can send video notes with Snapchat AR to make their “getting-to-know-you” chats more engaging.

Poshmark & Ticketmaster Minis + prominent new home for Games & Minis

Introducing the Poshmark Mini to join daily shopping events, and Ticketmaster Mini to browse shows and find friends to go with. And you can now find Minis and Games in a more accessible ‘tray’ in the app — just swipe down from the home Camera screen. This is where Snap Map was found before it was moved to a main tab.

Bitmoji partnership with Unity

Beginning today game developers can bring Bitmoji into their mobile, PC and console games, right through the Unity platform.

Sticker Kit

This new integration for app developers brings the 34+ million Bitmoji, Stickers, and GIFs from Snapchat right into your app, and at your community’s fingertips.

Creators

Snapchat is a place where Creators can grow their audience, build their business and entertain the community.

Launch of Story Studio

Story Studio is Snap’s new standalone app that offers powerful editing tools to make professional content for mobile, on mobile. It’s a fast and fun way to make more advanced, engaging vertical videos that share right to Snapchat - and anywhere else. Built with Creators in mind, Story Studio will offer insights into trends happening on Snapchat. It is launching later this year on iOS and will be available for free. The app’s suite of tools and features include:

Insights into trending #Topics, Sounds and Lenses across Snapchat

Access to Snap’s robust catalog of licensed music and audio clips for use in video projects

Frame-precise trimming, slicing and cutting, as well as frame-precise placement of creative elements like captions, stickers, Sounds and other media layers

Visual effects using Snap's unique augmented reality technology via Lenses and cross-clip transitions

The ability to save and edit projects until you’re ready to share

Direct posting of the finished video to Spotlight or Stories (via Creative Kit), download to your camera roll, or open it in other installed apps

Easy login with Snapchat (via Login Kit)

Gifting

Subscribers can now send Gifts to official Snap Stars to kickstart conversations. Snap Stars earn a share of the revenue from Gifts, which are received through Story Replies and purchased via in Snapchat Tokens.

Spotlight on the web

A new destination at snapchat.com/spotlight where Creators can upload video into Spotlight directly from Chrome or Safari, and anyone, even without a Snapchat account, can see the best of what’s happening.

Launch of Creator Marketplace

Brands can use this new portal in the self-serve Business Manager to find and contact verified creators, starting with top AR Lens Creators and, in the future, Snap Stars and Creators on Spotlight.

Inclusive Camera efforts

Snapchat’s camera is one of the most widely used in the world, and the company recently announced plans to make it more inclusive, working with several noted directors of photography from the film industry to learn techniques they use to best capture actors with darker skin tones. These features will become available in Camera Kit, so developers all over the world can easily make their cameras more inclusive.

About Snap Inc.

Snap Inc. is a camera company. We believe that reinventing the camera represents our greatest opportunity to improve the way people live and communicate. We contribute to human progress by empowering people to express themselves, live in the moment, learn about the world, and have fun together. 

Godrej Donates Advanced Medical Refrigerators To Safeguard Covid-19 Vaccines

* Bengaluru based Urban Primary Health Centre received specialized Godrej Vaccine Refrigerator to safely store covid-19 vaccines

Godrej & Boyce, the flagship company of the Godrej Group, announced recently that its business, Godrej Appliances, one of India’s leading consumer durables company, has donated a specialized 99-litre vaccine refrigerator to Urban Primary Health Centre, BBMP West Zone, Bengaluru to strengthen their preparedness towards tackling the Covid immunization drive.

Godrej has been partnering the ongoing Covid vaccination drive by the government, with its made in India, advanced cold storage solutions for vaccines and life-saving supplies.

The advanced 99 litre Godrej vaccine refrigerator was recently handed over by representative of Godrej & Boyce Mfg Co. Ltd to Dr. Sujatha S Hiremath, Medical Officer, Urban Primary Health Centre, BBMP West Zone, Bengaluru in a formal ceremony.

This was part of the Godrej & Boyce’s COVID Outreach initiative, under which the brand is donating 40 units of advanced medical refrigerators to various hospitals and public health centres pan India. Godrej & Boyce, the flagship company of the diversified Godrej group, is widely known for its commitment towards nation building and society.

About Godrej Appliances

Godrej Appliances, a business unit of the highly diversified Godrej & Boyce Mfg. Co. Ltd. is one of the leading Home Appliances players in India. Godrej was the first Indian Company in 1958 to manufacture Refrigerators and has since then, expanded its portfolio across many other categories like Washing Machines, Air Conditioners, Microwave Ovens, futuristic Thermo-electric cooling solutions, Air Coolers, Deep Freezers, highly specialized Medical Refrigerators and more recently, UVC Technology-Based Disinfecting devices and Dishwashers, all powered by the driving philosophy of 'Things made thoughtfully’/ ‘Soch Ke Banaya Hai’. 

This thought extends from human-centric design to planet centric design. Environment is a core value at Godrej Appliances. Both manufacturing units of Godrej Appliances’ - in Maharashtra and Punjab, became the first in the country to win the coveted Platinum Plus Green Co certification for their pioneering green manufacturing practices. 

The brand takes pride in not just its carefully designed products and environment-friendly technologies, but also best in class after-sales service delivered through over 680 service centers and more than 4500 SmartBuddy service experts spread all over the country.

Bayer sets up Oxygen Plant at Haria L.G. Rotary Hospital in Vapi under its Covid relief initiatives

* Bayer has set up a ~35 NM3 per hour capacity Oxygen Plant at a local hospital in Vapi

* 50 hospital beds can be supported with uninterrupted flow of high quality medical-grade oxygen

* Initiative aims to enhance hospital’s in-house oxygen capacity for the treatment of Covid-19 patients and also cater to future requirements

* Oxygen Plant set up in record time of three weeks by converting existing Nitrogen Plant at Bayer’s Vapi site

With surging cases of Covid-19 in India and the increased demand for medical-grade oxygen, Bayer, a global life science company with 125 years of presence in India, has set up an Oxygen Plant at the Haria L.G. Rotary Hospital  in Vapi, Gujarat. The Oxygen Plant was officially commissioned today and handed over by Narendra Shah, Director & Site Manager, Bayer Vapi Pvt. Ltd. to Dr.S.S.Singh, Superintendent, Haria L.G. Rotary Hospital, Vapi.

Bayer set up the Oxygen Plant in a record time of three weeks’ by converting its existing 200 NM3 per hour Nitrogen Plant at its Vapi site to manufacture medical-grade oxygen with a purity level of 91 to 93%. The plant has a capacity of ~35 NM3 per hour of Oxygen (1.18 metric tons per day), and will provide round-the-clock oxygen supply for the treatment of patients ailing with Covid-19. With the additional oxygen capacities, upto 50 beds can be supported with an uninterrupted 10 litres per minute flow of high quality medical-grade oxygen. In addition, the plant will have an oxygen storage tank with a capacity of 2 kilo litres.

Speaking about the initiative, Narendra Shah, Director & Site Manager, Bayer Vapi Pvt. Ltd., said, “We want to extend our support towards India’s fight against Covid-19. The set up of the oxygen generating plant at the Haria L.G. Rotary Hospital is a small step in this direction, to contribute towards safeguarding the health & lives of patients in Vapi and neighboring cities. We are fully committed to support our employees, stakeholders and local communities to emerge stronger together from the devastating effects of the Covid-19 pandemic."

The Haria L.G. Rotary Hospital at Vapi in Gujarat, has 200 beds in total, of which 52 beds are in the Intensive Care Unit (ICU). The hospital has dedicated 75 beds for treatment of Covid-19 patients. “Until now, we were dependent on private contractors for supply of oxygen cylinders and were facing multiple challenges for replenishing supplies. We are very grateful to Bayer for their end-to-end support from setting up of the Oxygen Plant, to testing, training and deployment. This in-house oxygen facility will help us treat critically-ill patients with more confidence and will expand our infrastructure to make us better equipped for future requirements," said Dr.S.S.Singh, Director, Medical Services, Haria L.G. Rotary Hospital, Vapi.

Besides setting up the Oxygen Plant, Bayer has conducted a detailed risk assessment, multiple trials and quality control tests to ensure the correct pressure is maintained in the oxygen supply pipeline and there are no leakages. The purity of the oxygen manufactured at the plant has also been tested by a laboratory to conform to required specifications of medical-grade oxygen used in hospitals. This project is a part of Bayer’s larger Corporate Social Responsibility initiatives across India to fight the surge of Covid-19. Bayer has also distributed three-ply masks to frontline workers and oxygen concentrators to Primary Health Centers to serve local communities in need.

About Bayer

Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to help people and planet thrive by supporting efforts to master the major challenges presented by a growing and aging global population. Bayer is committed to drive sustainable development and generate a positive impact with its businesses. At the same time, the Group aims to increase its earning power and create value through innovation and growth. The Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2020, the Group employed around 100,000 people and had sales of 41.4 billion euros. R&D expenses before special items amounted to 4.9 billion euros. 

Forward-Looking Statements

This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer’s public reports, which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

Esper Announces $30 Million In Series B Funding To Fuel DevOps Innovation

* Scale Venture Partners leads round to accelerate the deployment of Android edge devices globally

Esper, the industry’s leading Android DevOps platform for intelligent edge devices, today announced $30 million in Series B funding led by Scale Venture Partners, with participation from existing investors including Madrona Venture Group, Root Ventures, Ubiquity Ventures, and Haystack. The investment brings Esper's total funding to $40.6 million, following a $7.6 million Series A fundraise in February 2020.

With the number of Internet of Things (IoT) connected devices projected to increase from 14 billion units in 2021 to 31 billion units in 2025, companies are learning how best to scale their core business applications. But with thousands of device manufacturers on Android alone, achieving scale brings significant challenges. Esper’s platform helps companies securely streamline deployment and management for distributed fleets of Android edge devices, creating positive user experiences that can rapidly scale.

“Android is the most widely-used operating system in APAC. Enterprises require the right set of tools and processes to scale their edge device deployment and provide quality mobile experiences for their customers,” said Shiv Sundar, COO and Co-founder at Esper. “Esper’s Android DevOps platform powers mission-critical device deployment for Logistics, Retail, and Education customers in India and U.S. markets.”

In 2020, the company saw significant customer growth, across a number of industries, including Teach For India, Ordermark, Spire Health, Intelity turning to Esper to bring them to market faster as the demand for seamless digital experiences spiked. At year-end, the number of devices running on Esper grew 15x, with 70x year-over-year revenue growth. With the new funding, Esper plans to continue to build out its product portfolio and expand its infrastructure platform to support even larger workloads. Additionally, Esper plans to expand its team in India and the US and be hiring for engineering in cloud, Android, and full-stack, in addition to product and program management, user experience, marketing, and sales. 

“The pandemic has transformed industries like connected fitness, digital health, hospitality, and food delivery, further accelerating the adoption of intelligent edge devices. But with each new use case, better software automation is required,” said Yadhu Gopalan, CEO and co-founder at Esper. “Esper’s mature cloud infrastructure incorporates the functionality cloud developers have come to expect, re-imagined for devices.” 

“The world of edge devices is growing daily - from the ubiquitous tablets in retail, restaurants and warehouses, to fitness equipment and kiosks. All these devices need provisioning, scaled deployments, and frequent and remote updates,” said Andy Vitus, partner at Scale Venture Partners. “Esper is the DevOps infrastructure for the millions of fleets of devices out there in the hands of non-IT staff users - consumers, restaurant workers, shoppers, and more. We led their Series B because we see similarities to other DevOps companies and Esper has already established themselves as the leader in the exploding need for Device DevOps.”

A pioneer of the DevOps revolution, Esper CEO and Co-Founder Yadhu Gopalan designed back-end solutions for Amazon’s FireOS, AWS cloud services, and led systems engineering for Amazon Go. Over time, he saw an opportunity to bring the “DevOps mindset” to the world of intelligent edge devices. Seeing firsthand how much of a critical role modern infrastructure played in the success of cloud services, he applied similar tools and concepts to power the connected future for Android devices, founding Esper in 2018 with Shiv Sundar. Sundar, COO of Esper, previously led Android ecosystem teams at Samsung, Huawei and Cyanogen.

“Just as AWS rapidly accelerated the time to bring a web application to market, Esper gives developers and engineers the platform to bring their dedicated devices and associated apps to market exponentially faster,” said Yadhu Gopalan, CEO and co-founder of Esper. “Regardless of your hardware choices or roadmap, Esper presents the infrastructure as a single pane of glass. We innovate for you on the infrastructure level, so you can innovate at the application level.”

About Esper

Esper offers a DevOps SaaS platform for intelligent edge devices. As the industry’s leading solution for Android DevOps, Esper is on a mission to let software teams ship without worrying about the hardware. Esper’s device infrastructure enables developers, mid-market organizations, and enterprise fleets of 100,000+ devices to deliver their software as a service. Esper operates out of Bengaluru and Seattle and has rapidly-growing global customer adoption among some of the world’s most innovative major brands in retail, hospitality, logistics, healthcare, education and more. 

About Scale Venture Partners

Scale is a Silicon Valley-based venture capital investment firm with $1.9B under management. We were early investors in SaaS pioneers like Bill.com (NYSE:BILL), DocuSign (NASDAQ:DOCU), HubSpot (NYSE:HUBS), JFrog (NASDAQ: FROG) and Root (NASDAQ: ROOT). Today we’re focused on the next generation of enterprise software companies building Cognitive Applications like: Comet.ml, Observe.ai, Techsee and Viz.ai.

Experian Launches Enhanced Version Of “CrossCore, A Combination Of Risk-Based Authentication, Identity Proofing And Fraud Detection”

With accelerated digitisation, frauds and online financial attacks in India are growing exponentially. Data from Experian’s Global Insights Report (January/February 2021), shows that 46% of businesses in India have seen an increase in fraud.  

With the advent of e-commerce, digital fraud has been a huge challenge for businesses. Despite the growing risk of fraud, 40% of Indian businesses indicate that they are placing more emphasis on revenue generation rather than fraud detection, which can lead to increase in losses and a decline in customer confidence. Considering that 56% of consumers in India cite online privacy as a significant concern, it is imperative for businesses to take robust actions to safeguard themselves and their customers against potential digital risks.    

While 90% of businesses in India say they have implemented strategies related to recognising their customers across their various platforms – the highest among all regions surveyed in the global report – only 18% of organisations surveyed in India are confident in preventing new types of fraud.  

To counter the rising threat of fraud, Experian – the world’s leading global information services company – has upgraded and enhanced one of its flagship products, CrossCore. The enhanced version of CrossCore cuts complexity, increases efficiency and helps businesses to quickly respond to today’s emerging fraud threats.  

Experian’s CrossCore is the first identity and fraud platform that empowers businesses to connect, access, and orchestrate decisions across multiple solutions seamlessly. This new version features a cloud architecture, progressive risk assessments, faster response times, self-service workflows, and various reporting dashboards. These features allow businesses to manage checks required for every application and transaction, analyse key performance indicators in near real-time, and detect fraud quickly – without impacting the customer experience.  

With CrossCore, Businesses Can Look Forward To The Following Benefits: 

All-in-one, faster, frictionless solution - a one-point solution for identity and document verification, video KYC, fraud detection and more for faster business decisions. 

Advanced technologies for identity verification and fraud prevention - identifying customers through advanced machine learning, artificial intelligence, device intelligence, behavioural biometrics and Experian’s fraud consortium, Hunter. 

Faster decisions for superior customer experience - making real-time fraud prevention decisions and providing superior customer experience. 

Improved business metrics - decreasing manual review costs and fraud losses. 

Neeraj Dhawan, Managing Director, Experian India, said: “The pandemic has resulted in a behavioural shift in adopting digital mediums as the primary operational channel. This shift has intensified concerns over cyber threats and new kinds of frauds. Experian’s enhanced CrossCore presents an opportunity for businesses to put consumers at the heart of the relationship. CrossCore connects disparate fraud systems with an open platform, delivering both visibility and agility. With the latest version of CrossCore, Experian empowers businesses by consolidating numerous fraud risk signals into a single, holistic assessment, enabling them to improve operational processes, stay ahead of fraudsters, and protect their customers.” 

Steve Griffiths, Managing Director, Decision Analytics, Experian Asia Pacific, said: “India has now become one of the largest and fastest-growing technology markets in this world. Businesses need to build a digital infrastructure that is agile and adaptive to these changing dynamics. While 90% of businesses in India say they have implemented strategies related to recognising their customers across their various platforms, without a focus on fraud prevention, they remain prone to losses in the long-term. Businesses who put all their money into the digital experience at the expense of fraud prevention will be targeted by fraudsters, who have sophisticated ways of identifying weaker online platforms and targeting them. The enhanced version of CrossCore provides businesses a strong mechanism to combat evolving fraud threats in real-time.”  

The new version of CrossCore has enhanced capabilities to deal with Account Takeover Fraud, as well as Account Opening frauds, along with supporting fraud data sharing for a range of different fraud indicators.