Nandkumar Saravade Joins 1Kosmos Advisory Board In Singapore

* International law enforcement, fraud prevention and banking expert joins the leading provider of identity-based passwordless authentication

1Kosmos, the only company that unifies identity proofing and passwordless authentication, announced today that Nandkumar Saravade, the founding CEO of Reserve Bank Information Technology Pvt Ltd (ReBIT) has joined its Board of Advisors. Nandkumar brings over 35 years of security expertise in the domains of fraud prevention, law enforcement, banking and regulation to 1Kosmos. 

According to research conducted by Group-IB, a cybersecurity research firm based in Singapore, India ranked third globally and first in the Asia-Pacific region in the list of 111 countries affected by a worldwide cyberattack involving a syndicate of cybercriminals stealing passwords through a concerted phishing campaign. The study found that the cybercrime group Telegram infected 19,249 devices in the last ten months of 2021 in India, while the number grew to 53,988 in the first seven months of 2022. The hackers were able to retrieve 117,645,558 cookie files, 4,547,020 passwords, details of 4,657 bank cards and 4,428 sets of crypto wallet information.

“Nandkumar is internationally recognized for his expertise in financial services, fraud prevention and compliance,” said Hemen Vimadalal, Founder and CEO, 1Kosmos. “His extensive experience and various roles he has played at service providers and governments on financial cybersecurity, and his industry relationships, will help 1Kosmos extend our leadership in banking and other key vertical markets in India and the Asia Pacific.”   

Nandkumar Saravade has served as a senior executive and advisor to government and private sector organizations for more than three decades and is sought for his expertise on governance, strategy, ethics and cyber security. In addition to being the founding CEO of Reserve Bank Information Technology Pvt Ltd (ReBIT) for five years, he has held senior management and advisory roles in banking with ICICI Bank and Citi, consulting with EY, and industry associations including NASSCOM and DSCI that spanned risk management, policy outreach and greenfield innovation. Prior to joining the private sector, Nandkumar served in the Indian Police Service for 21 years, including seven years in the Central Bureau of Investigation (CBI). 

“1Kosmos is addressing the root of the problem in online and financial fraud, which is identity verification and passwordless authentication,” said Nandkumar Saravade. “I am delighted to join the company as an advisor, and I look forward to helping advance the adoption of their technology. 1Kosmos not only improves security and the user experience, but the BlockID platform also helps make the world more resilient to cyber fraud.” 

About 1Kosmos

1Kosmos enables passwordless access for workers, customers and citizens to securely transact with digital services. By unifying identity proofing and strong authentication, the BlockID platform creates a distributed digital identity that prevents identity impersonation, account takeover and fraud while delivering frictionless user experiences. BlockID is the only NIST, FIDO2, and iBeta biometrics certified platform that performs millions of authentications daily for some of the largest banks, telecommunications and healthcare organizations in the world. The company is funded by Forgepoint Capital and Gula Tech Adventures with headquarters in Somerset, New Jersey. For more information, visit www.1kosmos.com and follow us on Twitter and LinkedIn.

Noventiq Acquires Leading Cloud Managed Services Provider G7 CR In Indian Market

Noventiq (LSE: SFTL), the global digital transformation and cybersecurity solutions and services provider, announces the signing of an agreement to acquire one of India's principal Microsoft partners, G7 CR Technologies India Pvt Ltd. This acquisition further strengthens Noventiq's place as the leading player in the market for Microsoft solutions in India, one of the world's fastest growing IT markets.

Noventiq will strengthen its capability for delivering services for Microsoft Azure migrations and support through the acquisition of G7 CR Technologies. Microsoft's Azure business is historically growing globally at 40-60% every year.

Headquartered in Bengaluru, G7 CR Technologies is considered India's leading Managed Services Provider for Azure-based cloud solutions offering services from advisory to migration, implementation, security and optimization, among others. G7 CR is also a significant player in the market for Microsoft products.

This transaction represents the fourth acquisition of Noventiq in India which highlights the company's goal of continuing to invest in India, for India.

G7 CR, which currently works with over 600 customers from the SME, enterprise, government, and start-up sectors across India, will bring 200 excellent professionals to Noventiq's family.

Headquartered in Bengaluru, G7 CR Technologies was founded in 2012. Since the beginning, the company has focused on providing primarily Microsoft Azure-based solutions and services as well as Microsoft products. In addition to this, G7 CR is a Microsoft Solution partner for Data & AI, Infrastructure, Digital & App Innovation, Modern Work & Security. G7 CR has received Microsoft's Country Partner of the Year Awards in 2019 and 2020. G7 CR also has a strong presence in the Middle East which complements Noventiq's growth strategy in that region.

This transaction follows a series of acquisitions made by Noventiq in India in the past two years; Value Point Systems Pvt Ltd, which was announced in October 2022, Umbrella Infocare Pvt Ltd, acquired in February 2022, and Embee Software Pvt. Ltd., acquired in January 2021. All these companies, together with G7 CR, complement Noventiq´s capabilities to deliver the most modern set of solutions and services to customers of all types in this dynamic market - from large Indian global corporations to digital-natives born in the cloud. This set of offerings includes multi-cloud solutions, software, cybersecurity and infrastructure.

Sergey Chernovolenko, CEO at Noventiq, commented, “We are extremely happy to welcome the G7 CR team to Noventiq. This transaction represents our fourth acquisition in this country which shows how important it is for our strategy to continue to invest in India, for India. Our goal is to have a $1Bn business in India in the mid-term, and thanks to the incorporation of successful organisations like G7 CR, this goal will become a reality soon. This acquisition is particularly important because through G7 CR we will be able to boost our Microsoft Azure services business, as well as better access India's vibrant sector of high-tech companies and start-ups.”

Christopher Richard, Managing Director and Founder, G7CR Technologies India Private Limited, said, “We are very proud to have captured the eye of Noventiq's leadership team. Noventiq's global scale and G7CR's technology skills combined will enable us to provide a wider solution offering, and deeper tech engagements, to our existing and future customers. Further, this acquisition will give G7 CR access to a full portfolio of solutions and services from multiple global technology providers, as well as the opportunity to collaborate with a team of almost 3,900 excellent professionals. By joining Noventiq, we will contribute to their strategy of expanding Noventiq's footprint across India and beyond.

Land Rover Introduces Unique Travel Experiences, Defender Journeys, In India

·       Curated self-drive adventure program, in Defender vehicles, across India

·       Multi-day travel experiences will offer luxury stays and hospitality, lifestyle experiences, cultural immersion and drive across some of the most iconic routes in India with off-road trails, that offer a complete Defender driving experience

·       Cougar Motorsport has been authorised to plan and execute Defender Journeys in India

·       The first Defender Journey, the ‘Konkan Experience’ will take place from 16th January 2023. To know more click here

Jaguar Land Rover India has introduced specially curated and unique travel experiences, Defender Journeys, in India. This is a self-drive, multi-day, adventure program, in Defender vehicles, that will include many aspirational and sought-after itineraries across India. Each Defender Journey will include luxury stays and hospitality, lifestyle experiences, cultural immersion and drive across some of the most iconic routes in India with off-road trails, that offer a complete Defender driving experience. There will be 5 Defenders deployed in each Journey, thus offering just 5 drive slots, to provide a highly exclusive and personalised experience.

The first Defender Journey known as Konkan Experience is scheduled from 16th January 2023.

Rohit Suri, President and Managing Director, Jaguar Land Rover India, said: “The Defender clients are active and adventurous. Defender, with its iconic driving capabilities and design, offers the perfect opportunity to engage our discerning clients with a program to explore the cultural diversity of our beautiful country; be it the stunning coastal regions, whitewashed peaks of the Himalayas or the ephemeral dunes of the Thar. Each journey is bound to be a trip of a lifetime.”

To begin with, four Defender Journeys have been curated, as follows:

Konkan Experience

A journey between Goa and Bengaluru over seven days, to explore the towns along the Konkan coast, the hills of the Western Ghats and everything in between. The Konkan Experience is an adventure filled with surprises, whether it is exploring the beaches that dot the coast or sipping artisanal coffee in the cool mountain air. It includes luxurious accommodations that offer rich culinary experiences and exciting activities.

Nilgiri Experience

A journey between Bengaluru and Coimbatore, surrounded by lush nature, through the Western Ghats, and the famous tea plantations of the Nilgiris. Over seven days, The Nilgiri Experience includes travel through majestic forests, exploring a tiger reserve, stay in luxurious locations, and unwinding with a gorgeous sunset cruise.

Coromandel Experience

A journey between Coimbatore and Chennai across the Eastern Ghats and the extraordinary coast that straddles the Bay of Bengal. The Coromandel Experience is a culturally rich journey providing complete immersion into the region’s colourful heritage and tradition.

Malabar Experience

A journey between Coimbatore and Kochi to explore the region filled with unique geography, tranquil backwaters, unspoiled beaches, rich culture and spices. The Malabar Experience is a pursuit that will amaze you every step of the way and more.

More such journeys will be curated and introduced throughout 2023.

Jaguar Land Rover India has authorised Cougar Motorsport to plan and execute Defender Journeys in India. A team of trained Land Rover instructors will lead and guide every journey to make the overall experience seamless and convenient for participating clients.

Infiniti Mall Celebrates The True Spirit Of Christmas With Specially Abled Kids In Mumbai

~The festivities also included unique performances by the Indian Navy Band~

Infiniti mall - a premiere destination for shopping, entertainment and food hosted awe-inspiring Christmas market workshops recently, organized by specially abled kids in their Malad and Andheri location. The mall witnessed and celebrated the true spirit of Christmas of togetherness and selflessness with the kids in the holiday month. 

Customers could enjoy shopping from stalls for Christmas decorative items, hair accessories, bakery products like cookie muffins and desserts as well as personalized gifting options. To add to the joy and vigor the Mall also organized activities like DIY cookie decoration with kids, DIY muffin decoration with kids. 

Infiniti Mall also witnessed an exhilarating moment while the members of Indian Navy Band performed for the audience present at a large number in the Mall. The performance left everyone grooving while the talented and decorated officers got the audience to dance to their tune of trumpets and music.

On the occasion, Mr. Gaurav Balani, Head of Marketing, Infiniti mall shared, “Infiniti mall has always endeavored towards creating memorable experiences for customers. The essence of the festive season is further enhanced by developing an inclusive environment filled with joy and cheerfulness. This season we are delighted to organize this Christmas workshop by specially abled kids, thereby providing customers with an opportunity to shop the sensational artifacts created by these kids. Bringing a smile to the faces of people and curating moments which they can cherish forever has always been our priority”

For Christmas, the mall was decorated with beautiful lights and Christmas decor in theme to keep the celebration alive with the mall filled with Christmas bells and holiday feels. The one of its kind festivities including especially able kids and the Indian Navy Band attracted massive frenzy among the audience making it a successful weekend. 

About Infiniti Mall:

Infiniti Malls are a premiere destination for shopping, entertainment and food in Mumbai. It is a subsidiary of K Raheja Realty Group, which has been in the business of construction and property development since 1956.The first Infiniti Mall opened in 2004, at Oshiwara Link Road in Andheri (West). 

It houses 65 stores, a six-screen multiplex (PVR Icon), food court, family entertainment center and restaurants besides shopping. Owing to its success, the second  property opened at New Link Road in Malad (West) in May 2011. Since its inception, the mall has won several prestigious awards like Iconic Shopping Destination which was awarded by Mid-day, Iconic Mall in Gujarati and Marwari community presented to Infiniti Mall in Malad, Mapic India for Most Admired Shopping Centre of the Year: Metro-West 2022.

Dr. Ashwath Narayan C N Inaugurates Cashfree Payments’ Mangaluru Office Under #BeyondBengaluru Initiative

·         Hon’ble Minister Dr. Ashwath Narayan C N, Minister of Higher Education, IT and BT, Sci and Tech and Skill Development, Entrepreneurship and Livelihood, Government of Karnataka, inaugurated the newest office of Cashfree Payments, in Mangaluru

Minister Dr. Ashwath Narayan C N, Minister of Higher Education, IT and BT, Sci and Tech and Skill Development, Entrepreneurship and Livelihood,Government of Karnataka today inaugurated the Mangaluru office of Cashfree Payments, a leading payments and API banking solutions company, strengthening its presence in Karnataka. 

The inauguration ceremony took place in presence of several higher dignitaries including Shri Dr. E.V Ramana Reddy, IAS, Additional Chief Secretary to Government Commerce & Industries Department Electronics, IT, Bt and S&T Department, Government of Karnataka; Shri. Dr. N Shivashankara, IAS, Director Electronics, IT, Bt and Managing Director, Karnataka Innovation & Technology Society (KITS), Department of Electronics, IT, Bt and S&T and Shri. BV Naidu, Chairman, Karnataka Digital Economy Mission (KDEM).

As a part of Smart Cities Mission list, Mangaluru is among the 100 smart cities to be developed in India. Further, Mangaluru is one of the three city clusters to spearhead the KDEM’s “The Beyond Bengaluru” program by attracting global companies to establish their offices and operate from this region. Cashfree Payments’ new office is in line with this program, which will lead to intensifying the drive to build a robust Fintech ecosystem in the region. It will also spotlight the skill development, employment generation, and overall development across Karnataka.

Present at the occasion, Shri. BV Naidu, Chairman, Karnataka Digital Economy Mission (KDEM) said “Congratulations to Cashfree Payments for setting up operations in Mangaluru, as part of our #BeyondBengaluru initiative! Our mission is to work closely and support such emerging tech companies to expand to Beyond Bengaluru clusters across Karnataka. We are very happy that Cashfree Payments a leading fintech company choose to expand to Mangaluru as Mangaluru is being promoted as Fintech cluster. It is only the beginning, there are more fintech companies showing interest to expand to Mangaluru. It’s nice to see them drive the digital economy of Karnataka by accelerating skill development and employment generation in the state. We wish them lots of success in their endeavours.”.

Commenting on the launch, Akash Sinha, CEO and Co-founder, Cashfree Payments said “It gives us immense pleasure to start our operations in Mangaluru, a region which offers a dynamic and vibrant ecosystem with a prominent culture of innovation and rich entrepreneurship. New-age Fintechs are reshaping India into a more digitized country through deeper penetration. It is evident that now tier 2 and tier 3 cities are also becoming attracted to the Fintech revolution, driving the future of financial services in India. Mirroring the growth of Fintech across the nation, we at Cashfree Payments, are witnessing an exciting phase of growth too. Our operations in Mangaluru will certainly attract talent from the region, while allowing us to contribute to its overall growth imperative.”

75% of the employees at Cashfree Payments are based in Karnataka. The company has adopted a hybrid working model and the Mangaluru office will provide a convenient alternative for these employees, to work from the office. Also, it will help create employment opportunities for employees beyond Bengaluru. For this region, the company aims to hire across roles like engineering, product management, strategy and growth teams. 

With over 50% market share among payment processors, Cashfree Payments today leads the way in bulk disbursals in India with its product Payouts. Recently, India’s largest lender, SBI invested in Cashfree Payments underscoring the company’s role in building a robust payments ecosystem. Cashfree Payments works closely with all leading banks to build the core payments and banking infrastructure that powers the company’s products and is also integrated with major platforms such as Shopify, Wix, Paypal, Amazon Pay, Paytm and Google Pay. Apart from India, Cashfree Payments products are used in eight other countries including the USA, Canada and UAE.

About Cashfree Payments:

Cashfree Payments is a leading payment and API banking solutions company. It provides full-stack payments solutions enabling businesses in India to collect payments and make payouts via all available methods with simple integration. Cashfree Payments’ offerings include an advanced and easy way to integrate payment gateways, a split payment solution for marketplaces, bank account verification API and Auto Collect -- a virtual account solution to match inbound payments to customers. Founded by IIIT Hyderabad alumnus Akash Sinha and IIT Kharagpur graduate Reeju Datta, www.cashfree.com is among the leading payment service providers in India processing transactions worth USD 30 Billion annually. It has leveraged technology to lead payment disbursals in India with more than 50% market share among payment processors. Cashfree Payments enables more than 1,50,000 businesses with payment collections, vendor payouts, wage payouts, bulk refunds, expense reimbursements, loyalty and rewards. Apart from India, Cashfree Payments products are used in eight other countries including the USA, Canada and UAE. Cashfree Payments is backed by Silicon Valley investor Y Combinator, Apis Partners, State Bank of India (SBI) and was incubated by PayPal.

Business Growth App UpScale By CredAble Launches New E- Invoicing Solution To Help SMEs

~ The newly launched solution will help India’s 70 MN+ SMEs  to easily and securely create & manage their E-invoices.

Keeping up with the government of India’s bullish stance on digital transformation, UpScale by CredAble, a business growth app, has launched its new e-invoicing solutions for SMEs. The solution helps businesses with financial operations management assistance as per the rules led by the Government of India. 

According to a recent government directive, e-invoicing will be mandatory for certain businesses beginning January 1, 2023. This includes businesses with a cumulative yearly turnover of over Rs. 5 crore and above in any previous financial year from 2017–18 to 2021–22. 

With e-invoicing, organizations would be able to streamline their invoice processing cycles, further reducing the man-hours required for invoice processing, approval, tracking, and chasing invoices and human errors, thus resulting in a much faster turnaround time. 

In the coming few months, a large number of SMEs are expected to face challenges in finding a solution that is both uncomplicated and affordable. This is where UpScale by CredAble steps in.

Launched in November 2021 by CredAble, India’s largest working capital technology platform, UpScale provides SMEs with quick access to working capital, trade support, and opportunities, as well as an affordable payments solution that includes invoicing management. 

E-invoicing will be required by the government for businesses with an annual turnover of more than Rs 5 crore starting in January 2023. Right now, it is only required for businesses with an annual turnover of Rs 10 crore or more. This has left SMEs looking for a simple and inexpensive solution.

Highlighting the significance of overcoming the obstacles faced by SMEs in the new digital ecosystem, Mr. Nirav Choksi, Co-founder, and CEO at CredAble said, “CredAble has consistently been a leader in adopting the most recent technology standards rapidly and has established itself as vital for the companies seeking to operate efficiently." We believe that UpScale’s e-invoicing solution is a necessity and is made specifically keeping SMEs in mind. It provides one-of-a-kind solutions to assist them in adhering to government regulations in the simplest and most secure manner possible, at a very low cost. We’re glad that our exposure and expertise in the business ecosystem helped us understand the challenges Indian SMEs face, which eventually inspired us to create UpScale. In addition to bridging the gap between credit and cash flow management, the application also contributes pro-actively to the digital transformation movement that is currently shaping the next ten years for SMEs in India.”

With the new solution, an UpScale user can generate an e-invoice for all applicable GSTINs in just two ways - 

1. Generate the IRN for invoices created on UpScale  

and 

2. Generate IRNs in bulk through an excel file upload

Following are the key benefits of using UpScale for e-invoicing:

Bulk IRN Generation: UpScale allows you to bulk generate e-invoices using Government-mandated fields. 

Send Invoices to IRP in single click - You can create invoices on UpScale and send them to the e-invoicing portal in a single click.

Real-Time Data Backup - Automatic cloud storage helps you store all your e-Invoices for easy and safe retrieval anytime in the future. Retrieve all your past e-invoices with a signed QR. 

Smart Error Validations - UpScale pre-emptively validates your data to identify violations, incorrect data entry, and missing mandatory fields.

Share via WhatsApp, Email and SMS - One-click communication Send an email, SMS and WhatsApp to all your customers on a single click. Share signed QR e-invoice PDF to your customer.

Multiple GSTIN support - UpScale’s e-Invoicing Solution provides e-Invoicing enablement for all your GSTINs at once.

Thrilled to speak on the launch, Mr. Nitin Sharma, MD of UpScale and CPO at CredAble, said, “ As India walks into a new era of managing and growing a business, it is now crucial for all SMEs to start using e-invoicing as well. By the next fiscal year, it is expected that E-invoicing will be a mandate for businesses with a turnover exceeding Rs 1 crore. We’re extremely delighted to launch our new e-invoicing solution. It's also worth noting that, along with our E-Invoicing Solution, businesses now have free access to UpScale’s Payables & Receivables Solution as well. UpScale helps SMEs with billing and invoicing management, payments solutions, and easy access to business credit. And now that businesses will have to sync up with the e-invoicing site in order to get invoice reference numbers. UpScale’s e-invoicing solution will help them do all of it easily and accurately.

It is noteworthy that UpScale by CredAble is the only business application that has over 30 banking partnerships to help SME owners access working capital in various forms - both secured and unsecured business term loans, invoice discounting, Buy Now Pay Later programs, etc. 

Over 250,000 potential businesses have already been evaluated using UpScale's proprietary technology. It analyzed credit facilities from over 700 lenders, bank transactions worth more than Rs 5,000 crores, and more than a million invoices worth INR 10,000 crores or more to find the best match between borrowers, lenders, and lending products.

UpScale also has powerful solutions, such as the GST Super Search tool for quick vendor verification, B2B payment solutions like automated payment reminders, online collections and reconciliation, vendor management, and more.

Moreover, UpScale by CredAble aims to help SMEs that either create their invoices in Excel, or use an ERP that is not compliant with e-invoicing.

With e-invoicing being the most sought after feature after the government’s mandate for certain businesses, UpScale by CredAble has taken a lead in providing an optimum solution in the market. Unlike other applications, UpScale looks at the key indicators of holistic growth for SMEs. With easy access to working capital and a smooth flow of financial information and operations, UpScale is set to become the most trusted technology application for SME growth. 

Sundaram Finance Ltd. And Care Health Insurance Enter Into Corporate Agency Agreement

* Sundaram Finance Ltd. to provide Care Health’s comprehensive health insurance solutions through its extensive network

Sundaram Finance Ltd., one of the most respected financial services groups in India, and Care Health Insurance, one of the country’s leading specialized health insurers, entered into a Corporate Agency Agreement today. The event was attended by Mr. Rajiv Lochan, Managing Director, Sundaram Finance Ltd. and Mr. Anuj Gulati, Managing Director & CEO, Care Health Insurance.

With this association, Sundaram Finance will offer Care Health’s specialised and innovative range of health insurance solutions to its loyal and increasing base of customers. Products will be offered in the retail and group segments of Sundaram Finance’s customers, who in addition to the company’s existing portfolio of technology-driven and customised offerings, can now have their diverse insurance needs addressed under one umbrella.

Speaking on this association, Mr. Anuj Gulati, Managing Director & CEO, Care Health Insurance said, “We are pleased to partner with Sundaram Finance Ltd., one of the most trusted financial services groups in India, and offer their customers comprehensive health insurance solutions backed by quality servicing.”

Mr Rajiv Lochan, Managing Director, Sundaram Finance Ltd, said "We are delighted to tie up with Care Health Insurance, among the top companies in the health insurance business in our country, to offer our customers across India a range of innovative health insurance products. The pandemic has brought about a paradigm shift in the insurance industry and health insurance solutions have become a must-have option for Indian households. We are eager to play our part in securing the health and wellness of our customers.”

ABOUT SUNDARAM FINANCE

Sundaram Finance was established in 1954 and the company has today grown into one of the most trusted and diversified financial services groups in India providing financing for commercial vehicles, cars and utility vehicles, tractors and farm equipment, construction equipment, SME finance and a range of working capital products for financing diesel, tyres, insurance as well as working capital for SMEs. Through its subsidiaries and group companies, the company offers home finance, loans against property, mutual funds and investment management solutions and the full range of general insurance products and services. It has a nation-wide presence of over 600 branches, nearly 1.2 lakh depositors and over four lakh lending customers. Sundaram Finance’s vision is to be the most respected NBFC in the country and its mission is to deliver the Sundaram experience to all customers, big and small, in keeping with the ethos of the Company.

For more information, visit: https://www.sundaramfinance.in/

About Care Health Insurance

Care Health Insurance is a specialized health insurer offering products in the retail segment for Health Insurance, Top-up Coverage, Personal Accident, Maternity, International Travel Insurance and Critical Illness along with Group Health Insurance and Group Personal Accident Insurance for Corporates, Micro Insurance Products for the Rural Market and a Comprehensive Set of Wellness Services. With its operating philosophy being based on the principal tenet of ‘consumer-centricity’, the company has consistently invested in the effective application of technology to deliver excellence in customer servicing, product innovation and value-for-money services.

Care Health Insurance was awarded ‘Smart Insurer of the Year’ and ‘Sales Champion of the Year’ at The Economic Times Insurance Summit & Awards 2022. The company was also conferred the ‘Best Health Insurance Product’ and ‘Best Health Insurance Agents’ at the Insurance Alertss Awards, 2021, and was adjudged ‘Best Medical/Health Insurance Product Award’ at FICCI Healthcare Excellence Awards 2019.