Top 5 Tech Skills For Professionals Working In The Indian BFSI Sector

Digitization in India has taken over most sectors, including the market, startups, and companies, and BFSI is among them. According to a recent report, demand for jobs in the banking, financial services, and insurance sectors has witnessed an optimistic year-on-year growth of 27% in February 2022 compared to the previous year. Until now, the BFSI sector has primarily functioned using traditional technologies, resulting in lower efficiency and unsatisfactory customer experience. However, advancing technologies are paving the way for the industry to digitize through emerging skills like artificial intelligence, algorithms, and data sorting in enabling better customer insights. 

With technologies powering over the financial sector, upskilling professionals will help bridge the skill gap between traditional and contemporary work settings. This change has also seen a rise in various online courses for professionals aimed at building skills in current trends in roles such as trade finance specialists, credit and risk analysts, wealth management experts, cybersecurity analysts, and blockchain experts. The banking and financial industry is expected to provide jobs to 1.6 million skilled workers by this year. Here are the top five new-age skills that BFSI professionals can bag for career growth and transformation. 

1.      Data Analytics

The exponential growth of data volumes and analytical complexity has led to the increasing adoption of in-database analytical tools. Organizations are not only consuming this data to gain consumer insights and build networking but are also driving their major business decisions by analyzing the data. Data skills allow the professionals to automate processes and provide banks with more marketing muscle. Once professionals have the data analytics expertise, they can benefit the organizations by removing corrupted data, determining data quality, and preparing reports for their employers. Professionals with this skill can work as data analysts and data engineers.

2.     Artificial Intelligence (AI) & Machine Learning (ML)

AI and Machine Learning have immense potential in detecting financial fraud and improving the protection gap. The scope of AI has grown leaps & bounds over the last few years, and organizations across the sectors are looking to capitalize on artificial intelligence applications. AI is transforming various businesses' functional, operational, strategic landscapes, and customer experiences. This technology offers a high level of accuracy that helps in determining banks' profitability. Professionals with this skill can work as AI backend engineers, machine learning engineers, and data engineers.  

3.     Cloud Computing

Cloud computing has been the most transformative technology and has gained significant momentum since the 2010s. With many organizations migrating to the cloud from their traditional application, jobs in this domain are growing massively. Cloud computing technology improves the overall efficiency and reduces operating costs for the BFSI sector. It also ensures smooth banking functions and tunes the computing resources with the customer's needs. Database administrator, network architect, and system administrator are some of the high-demand roles for cloud computing.

4.     Cybersecurity

With the rise in digitization and adoption of new-age technologies, there is an increased risk of data breaches, leaks, and cybercrimes leading to the dire need for skilled information security professionals with every passing day. Cybersecurity has become an essential skill to have for the BFSI sector. Once the professionals upskill themselves, organizations will no longer have to hire cybersecurity teams to mitigate the threat. 

5.     Blockchain

Blockchain was first introduced as a concept of a technical backbone of the digital currency, and the integration of blockchain technology is now witnessing primary demand across various sectors. This technology is used in the banking sector for online identity verification, credits, loans, tracking payments, accounts, and more. Professionals with this skill-set bring in more transparency, reduce transaction costs, and streamline new banking services that create new revenue lines. Post acquiring this expertise, specialists can work with blockchain developers, project managers, and quality engineers. 

A significant challenge in digitizing the BFSI sector is the availability of talent with critical skills in emerging technologies. Though BFSI makes the top 10 recruiters in the country, a lack of a workforce that is not equipped with industry-relevant and contemporary digital skills remains a concern. Upskilling helps professionals gain relevant knowledge and empowers them to earn remuneration based on their recently added expertise. 

riidl Hosted 100 Indian Startup Founders And top Investors On Demo Day As Part Of Its Acceleration Program

* 40 startups across Fintech, Edtech, E-commerce, SAAS, Journalism, Agritech, Biotech, Food, Healthcare presented their ideas to investors for funding opportunities 

Research Innovation Incubation Design Laboratories’ (riidl), in association with HSBC, organised a ‘Demo Day’ as part of their Acceleration Program which was held on 30th July at The Somaiya School Auditorium. The event saw participation from 40 startups who got an opportunity to pitch their ideas to investors for fundings.

riidl was set up by the Somaiya Trust in 2010 to nurture entrepreneurship and innovation amongst its students, faculty, staff & alumni and is supported by Department of Science & Technology; BIRAC, Department of Biotechnology, Government of India and Maharashtra State Innovation Society, Government of Maharashtra to scale the startup incubation program. riidl supports the creation and incubation of early-stage companies from ideation to commercialization by providing them with industry-specific resources, labs, government grants, investor connections, funding, intellectual property protection & patent support, HR support and mentorship. In merely a decade, riidl, being a sector-agnostic incubator, has focused on building startups across various domains. riidl has incubated over 129 startups and facilitated in creating 600+ job opportunities with a community of over 2800 makers & innovators and 2200 Bio-enthusiasts & researchers across sectors through their initiatives & programs to develop their early-stage ideas to fully functional companies; with a total revenue generated by startups over INR 292 Crores till date.

The event, ‘Demo Day’ was held as a part of riidl’s Acceleration Program, which aims to help the startup community to pitch their ideas and network with the investors. This year, the program saw participation from 650+ startups, out of which 40 startups were shortlisted for the acceleration across Fintech, Edtech, E-commerce, SAAS, Journalism, Agritech, Biotech, Food, Healthcare and an array of other sectors to pitch for funding. The event was graced by Vikas Chauhan, COO & Co-Founder, HexaHealth; ex Co-Founder, Tata 1mg, and also an alumnus of K J Somaiya Institute of Management.

The event saw some amazing, innovative and unique startup ideas out of which some were shortlisted, including Pilk, it develops tasty and healthy plant-based milk products, Innokrit, develops a no code AI platform to extract data from images and videos, Farmology, a platform that makes agritech accessible and affordable to Indian farmers, ProPlant Foods Pvt Ltd, developed ProMeat, that offers a healthy, tasty and economical plant-based chicken with much higher protein content, amazing texture and rich-delicious mouthfeel, Atlancer, a platform that offers curated freelance talent, and Orage Digital Pvt Ltd, developed Offee, an AI based assessment and content learning platform with skill mapping.

Gracing the event, Mr. Samir Somaiya, President, Somaiya Vidyavihar & Chancellor, Somaiya Vidyavihar University, said, “If you had told me 10 or 15 years ago, that there will come a time when initiatives which specifically exist to help young entrepreneurs to boost their startup ideas in India would be a reality, I would not have believed you. Clearly, times have changed and the word ‘entrepreneur’ isn’t so much of a taboo anymore. It is honestly great to see such young individuals coming up with unique ideas of their own and showcasing them with determination. It fills me with optimism and hope for the future of our country.”

Chief guest and Keynote speaker, Mr. Vikas Chauhan, COO & Co-Founder, HexaHealth; ex Co-Founder, Tata 1mg, said, “It is truly an honour to be here; being back here on campus and on this podium feels somewhat surreal. It’s great that such an initiative to help startups is being taken, because it is very important for young entrepreneurs, especially in the initial phase, to make advantage of  platforms like these where they can come out and showcase their ideas, and of course get an opportunity for their ideas to be funded. If there is one thing I can say to all the young entrepreneurs, it would be that showing-up is the first step to success, and perhaps the most important.”

Thrilled about the positive outcome of the initiative, Mr. Gaurang Shetty, CEO, riidl, said, “riidl has been doing its best to recognise & enable access to knowledge, experience, and funding for the startups, as  we  have forged academic collaborations, industry-driven alliances, and participated in government entrepreneurship programs to reinforce the quality of the leadership team, range of services offered, good practices, scale and scope of activities, financial and operational stability and impact. It was refreshing and a delight to see so many creative and inventive ideas being showcased, and the investors present were certainly pleased to see genuine effort put behind each startup that participated. We have great hopes for the future of entrepreneurship in India; our vision is to create an ecosystem of inventions and not just entrepreneurship, which can enhance the intellectual, psychological and social development of our country in the next 10 years. With initiatives like the ‘Demo Day’ event, I am positive we will be able to achieve that.”

‘KMS Free Mega Artificial Limb Donation Camp’ In Jayanagar, B'lore

* Free Foot & Forearms Camp

For the 14th year Karnataka Marwari Samaj in association with Bhagwan Mahaveer Vikalang Sahayata Samiti (Jaipur Foot) is organizing a ‘Free Mega Artificial limb Donation Camp “. It is completely Free Mega Artificial limb Donation Camp for those who have lost their forearms or for those who need polio calipers. This time KMS added Forearm too in this camp.The measurement camp will be conducted on Sunday, 28th August, 2022 at Maharaja Agrasen Bhavan, near Ashoka Pillar, Jayanagar, Bengaluru -560011, Time 9:00 am to 2:30 pm. Registration will be closed on 27th Aug 2022 (Saturday).

The distribution ceremony will held on 28th September 2022 at the same venue.

Sri Bimal Kumar Saraogi, Project Director, Karnataka Marwari Samaj said, “All of us are affected in some way or other in this pandemic and we should contribute as per our capacity to help others. It is a clear social vision and commitment of KMS to help the disabled regain mobility and dignity by fitting high-quality, durable artificial limbs and other aids and appliances.

Speaking about the Camp Mr. Anand Poddar, President, Karnataka Marwari Samaj said, “It is heartening to see the coming together of people and communities to help each other out. We strongly believe that service to man is service to God, and invite one and all to take this opportunity to serve humanity.

The artificial limbs provided by Karnataka Marwari samaj uses Jaipur Limb Technology. This technology has been developed and further refined by the research and development team of the society. The Jaipur Limb is a one-stop facility and the patients who come are measured and their custom-made limb/caliper are fabricated and fitted, without making them visit again a second time. It is so efficient that after this limb is fitted, a person can walk like a normal person without a stick or support, and even run, ride a bicycle and climb a tree. After the fitment many of the patients can go back to work in the field, factories, shops and offices.

Request beneficiaries to avail this opportunity by registering themselves. All they need is Aadhar card, photo of legs/hands and phone number.

Toyota Kirloskar Motor Clocks Highest Ever Wholesales Of 19693 Units In July 2022

* Registers a growth of 50% when compared to sales in July 2021

TKM today announced that the company sold a total of 19,693 units, the highest ever wholesales clocked by the manufacturer in a single month ever since its inception in India. Thus registering a growth of 50% when compared to its wholesales in the corresponding period last year. For reference, TKM had sold 13,105 units in July 2021. TKM also registered a growth of 19% over its wholesales of 16,500 units sold in June 2022.

Expressing his thoughts, Mr. Atul Sood, Associate Vice President, Sales, and Strategic Marketing, TKM said, “The month of July has been phenomenal for the company. Both in terms of sales as well as our endeavor towards “mass electrification” in India, as we unveiled the first self-charging strong hybrid electric vehicle in the high volume B SUV segment- the Urban Cruiser Hyryder. The response to the model has been exceptional, especially the customer’s choice for strong hybrids, further reiterating Toyota’s global prowess when it comes to the manufacturing and sales of electrified vehicles worldwide.  We are humbled by such an encouraging response and would like to thank our customers for placing their trust in the brand.

Last month also witnessed TKM’s highest ever wholesales in a single month, ever since we started operations in India. This significant milestone also reinforces the popularity our segment leading models like the Innova Crysta, Fortuner & the Legender enjoy. The cool new Glanza as well as the Urban Cruiser continue to gather momentum as well as very encouraging booking orders. The Camry Hybrid and the Vellfire too, continue to garner healthy customer orders”.  

TECNO SPARK 9T Launched In India With 50MP Triple Rear Camera At A Special Introductory Price Of Rs 9,299

·         TECNO SPARK 9T  to disrupt the market with its 7GB RAM and 6.6” Full HD+ Display

·         The all-new smartphone will be available on Amazon.in, starting 6th August 2022

·         Consumers can get a chance to avail special offers on Amazon.in

TECNO Mobile, the global premium smartphone brand launches TECNO SPARK 9T, under its futuristic ‘SPARK series’. Staying true to the virtue of introducing industry-first features, making the photography more intuitive, the new TECNO SPARK 9T boasts the integration of an advanced triple-rear camera set-up at a disruptive price-point of Rs.9,299. Considering its continuous innovation, TECNO has cemented its position as the 4th largest smartphone player in the sub-10K segment as per Counterpoint Research.     

TECNO SPARK 9T is a premium smartphone that boasts ‘category defining’ features with 6.6” Full HD+ display giving a riveting viewing experience. The smartphone is backed by a super-efficient MediaTek Helio G35 processor. The new addition to the SPARK series is powered by a 5000 mAh battery and an 18W flash charger. The mighty combination gives 39 days of standby time and 147 hours of music playback time to the users. The TECNO SPARK 9T raises the bar of gratification quotient of TECNO SPARK series smartphones.

Commenting on the launch, Arijeet Talapatra, CEO of TRANSSION India, said, “At Tecno, we are committed to scaling new heights of innovation through our future-ready consumer-centric products. With our Spark series, we are focused on embedding powerful features in our devices at affordable prices to accommodate consumers’ lifestyle and further consolidate our presence in the mid to high category. With each launch, we have been positively gaining market share across segments by offering need based solutions basis closely studying our consumer pulse and demands and offering them the best-in-class products with advanced technology. With Tecno Spark 9T, we set out to disrupt and push the boundaries on all fronts. The device offers market-leading specifications such as 50MP AI triple rear camera, 7GB RAM, 6.6” Full HD+ display and 5000mAh long battery life with seamless performance, which ensures the best experience for Indian smartphone users.”

Key USPs of TECNO SPARK 9T:

·         50MP Ultra Clear High-Resolution AI Triple rear camera with Super Night Mode

TECNO SPARK 9T’s F1.6 large Aperture with PDAF technique enables you to click clear and memorable photos with each click. Multiple user-centric modes like AI Beauty, Portrait, Super Night and HDR add more flavors to your photos. With the TECNO SPARK 9T's 50 MP Main Camera, it can bring a clear world of images and freeze the beautiful details of life through excellent image processing. The phone also features pro-level shooting modes like 1080p Time-lapse, Slow Motion, and Video Bokeh additionally to give an edge to your memories. Users can click outstanding selfies either during the day or at night with its 8MP selfie camera with a dual front flashlight.

·         Large 7GB RAM with Memory Fusion for incredible speed

TECNO SPARK 9T is equipped with 7GB RAM for faster speed and lag-free operations. It comes with 4GB LPDDR4x RAM, which can be extended up to 7GB with a memory fusion feature. With this bigger RAM, you can enjoy the ultra-fast speed of up to 43% improvement in launching various apps thus, enhancing your multitasking experience. Memory fusion will allow users to borrow additional RAM from storage capacity to offer a better experience. Its 64GB internal storage with up to 512GB dedicated expandable storage slot is sufficient for your daily multimedia needs. 

·         6.6” Full HD+ Dot-Notch Display for a breath-taking viewing experience

TECNO SPARK 9T features a large 6.6” Full HD+ display with a dot-notch on the front to house the selfie camera. It also offers 1080x2408 full HD resolution with 401PPI high pixel density for vivid colors on screen. Its narrow bezels with a 90.1% screen-to-body ratio improve the viewing experience. The smartphone comes with an IPX2 splash-resistant feature to prevent water damage.

·         5000mAh Powerful Battery with 18W Flash Charger

TECNO SPARK 9T provides an ultimate battery backup with a 5000mAh mega battery. Furthermore, level-up charging with an 18W flash charger may quickly fill 50% of the battery in less than an hour. The user will get a standby time of up to 39 days and 147 hours of music playback time for unlimited fun.

·         MediaTek Helio G35 superfast processor for high-performance usage

Enjoy speed and performance with Intelligent, dynamic management of CPU, GPU and memory. MediaTek Helio G35 with the benefits of HyperEngine technology provides intelligent resource management that ensures sustained performance and longer gameplay.

·         Trendy and stylish design with attractive colors

The TECNO SPARK 9T will be available in two colors, namely Turquoise Cyan and Atlantic Blue making it a flaunt-worthy smartphone. With attractive and energetic colors and a bolder brand logo further enhances the premium appeal of the smartphone.

·         Other path-breaking features of TECNO SPARK 9T

All of these functions are combined with the HiOS 7.6 operating system, which includes many other top-notch features, like Vault 2.0, Document Auto Rotate Manager, Peek Proof, and Pic Film etc. The smartphone also has a smart anti-oil side fingerprint sensor with just 0.24 sec ultra-fast unlock to accept calls. Face unlock characteristic gives closed eye protection. In addition, the newly added attribute Soplay 2.0 is an app that is used for music-making even without the internet. Also, TECNO SPARK 9T produces loud stereo sound with its speakers. Experience cinematic level DTS surround Sound quality through its amazing speakers.

Brandintelle Services Signs Up International Auto Major As Its Client

Brandintelle signs up India-headquartered automobile giant Tata Motors Ltd as their fifth corporate customer. From custom workflow automation leading to total automation of Marketing Departments to pipelining marketing data into a Marketing Data Lake to increasing visibility via Dashboards to providing Analytics Models linked to the Marketing Data Lake - Brandintelle Services offers IT-enabled services to transform the business of Marketing Departments of large corporates. Having serviced clients from the automobile, FMCG & edutech sectors, Brandintelle looks forward to service the FMCD, BFSI, Mobiles, E-commerce & Telecom sectors. 

"Brandintelle is a custom-built solution designed to transform your Marketing Depts. - with workflow automation/transaction processing, virtual collaboration & the need for a single source of truth from your Marketing Data Lake for routine analytics & better visibility." - Sachin Bhosle, Vice President - Research & Marketing, Brandintelle. 

About Brandintelle Service 

Brandintelle Services Pvt. Ltd. was founded to fill the critical gaps of IT in Marketing - by serving as the latest enabler in the chaotic world of Marketing. Our objective has been clear from the beginning: to cover the entire marketing cycle. 

Incorporated in 2018, Brandintelle is affiliated with Mediaware Infotech, a leading IT product for media agencies with 1200+ clients nationally. 

Brandintelle is headquartered in Mumbai, India.

Sundram Fasteners Limited Registers Highest Ever Standalone Net Profit At Rs 130.11 Crores For Quarter Ended June 30, 2022

Standalone Financials

·           Revenue from Operations at Rs 1,239.64 Crores, an increase of 32%

·           Profit before Tax (PBT) at Rs 171.09 Crores, an increase of 13.2%

·           Profit after Tax (PAT) at Rs 130.11 Crores, an increase of 15.6%

The Board of Directors of Sundram Fasteners Limited today announced the unaudited Financial Results for the quarter ended June 30, 2022.

Highlights: Quarter ended June 30, 2022: FY 2022-2023

Standalone Financials

The revenue from operations was at Rs 1,239.64 crores for the quarter ended June 30, 2022 as against Rs 938.81 crores during the same period in the previous year, registering a strong growth of 32%.

The domestic sales for the quarter ended June 30, 2022 were at Rs 798.50 crores as against Rs. 559.93 crores during the previous year, a significant increase of 42.6%

The export sales for the quarter ended June 30, 2022 were at Rs 405.76 crores as against Rs. 356.33 crores, posting an increase of 13.9%. The Company continues to post a robust growth in export sales.

The earnings before interest, depreciation and taxes (EBITDA) for the quarter ended June 30, 2022 was at Rs. 214.86 crores as against Rs. 192.88 crores during the same period in the previous year, showing an increase of 11.4%.

The finance cost comprising of interest cost of Rs. 2.11 crores and exchange loss of Rs. 2.90 crores for the quarter ended June 30, 2022, was at Rs. 5.01 crores. The finance cost for the corresponding quarter in the previous year comprised of interest cost of Rs. 1.11 crores and exchange loss of Rs. 3.06 crores which thus amounted to Rs. 4.17 crores.

The Profit before Tax (PBT) for the quarter ended June 30, 2022 was at Rs.171.09 crores as against Rs. 151.13 crores during the same period in the previous year.

The net profit for the quarter ended June 30, 2022 was at Rs 130.11 crores as against net profit of Rs. 112.55 Crores during the same period in the previous year, with a year-on-year growth of 15.6%.

Earnings per share for the quarter ended June 30, 2022 amounted to Rs. 6.19 and was Rs. 5.36 in the corresponding period last year.

Operations in a challenging environment

Ms Arathi Krishna, Managing Director, Sundram Fasteners Limited, said, “The Company has registered a strong operating performance and reported highest ever profit despite a challenging environment posed by continuous increase in raw material prices, inflationary impact in indirect materials and steep increase in freight costs and other inputs.”

“We continue to be cautiously optimistic about the ensuing quarters” added Ms Arathi Krishna, Managing Director.

Proposed capital expenditure

The Company has planned an investment of Rs 350 Crores over a period of five years for manufacturing Advanced Automotive Technology Components like powertrain sub-assemblies for Electric Vehicles (EV) and select Internal Combustion Engine (ICE) vehicles. The investments proposed to be made in this direction are expected to provide a major thrust to the Company’s exports in the years to come.

In addition, there is a significant potential for growth in the wind energy business. To meet the surge in demand, the Company proposes to make additional investments of Rs 300 Crores over the next two years.

Development of new products

The Company continued its efforts in developing new products such as tower fasteners, valve body housing and swash plate for hydraulic power system, electric water pumps for passenger utility vehicle, sintered pulleys for electric scooter application, which is expected to pave way for better business prospects in the future.

Consolidated Financials

The Company’s Domestic and Overseas subsidiaries have registered a good performance during the quarter ended June 30, 2022.

The Company’s consolidated revenue from operations posted for the quarter ended June 30, 2022 was at Rs 1,410.12 crores as against Rs 1,129.56 Crores during the same period in the previous year, an increase of 24.8%.

The consolidated net profit for the quarter ended June 30, 2022 was at Rs 138.03 crores as against net profit of Rs. 120.51 Crores during the same period in the previous year, a growth of 14.5%.

The consolidated earnings per share (EPS) for the quarter ended June 30, 2022 amounted to Rs. 6.47 and was Rs. 5.74 in the corresponding period last year.

About Sundram Fasteners

Sundram Fasteners Limited, a Company headquartered in Chennai, has established a track record of leadership over 50 years. With a diversified product line,

world-class facilities in 3 countries and motivated team of talented people, Sundram Fasteners has become a supplier of choice to leading customers in the automotive segments worldwide.

The product range consists of high-tensile fasteners, powder metal components, cold extruded parts, hot forged components, radiator caps, automotive pumps, gear shifters, gears and couplings, hubs and shafts, tappets and iron powder. Over the years, the Company has acquired cutting-edge technological competencies in forging, metal forming, close-tolerance machining, heat treatment, surface finishing and assembly.