Digital Firm iOPEX Technologies Unveils New “AI Framework”

* Online: Unveiling iOPEX.AI: Empowering Enterprises with a Cutting-Edge AI Framework 

~ This comprehensive solution will aid intelligent decision-making, enhance customer experiences, and fuel business growth ~ 

iOPEX Technologies, a global leader in digital transformation and technology services has launched iOPEX.AI, an advanced enterprise AI framework that enables businesses to re-invent themselves. The framework with five stages – discover, evolve, leverage, transform and accelerate - will enable businesses to deliver transformative solutions.  

Sharing details about the new offering, Shiva Ramani, CEO, iOPEX Technologies said, “Digital advancements and innovations had led to the extraordinary growth of the Indian tech industry. Generative AI has the potential to transform software development but at the same time software developers must leverage this technology while embracing the guardrails. It has been predicted that AI-driven development will be responsible for 80% of the code written by 2024, as per the survey conducted by Gartner. Adopting AI with guardrails is the only silver bullet to thrive.  We have launched a customer innovation fund to help customers begin their re-invention with AI.”  

iOPEX Technologies delivers AI solutions with an insight-led experience architecture. Our AI platform ElevAite enables enterprise content that is available in all different formats to be vectorized so that it can be consumed by AI Models.  This transformed data is harnessed for advanced solutions, unprecedented insights are extracted from vast data troves, and this empowers AI models for informed decision-making, custom AI models are constructed which elevates the business efficiency and smart apps which accelerate enterprise-wide AI activation with a flexible framework addressing design and run-time needs are built.  

The journey of the client begins with them discovering the boundless possibilities of generative AI as iOPEX engages with business leaders to uncover essential use cases that align with their objectives. The client’s operation processes are evolved and redefined to deliver total customer and employee experiences. Next, the enterprise data is leveraged to identify lucrative ways for generating AI to optimize operations, experience and accelerate growth. The organisation’s future is transformed with smart applications across business functions. Finally, a robust AI workbench is built which accelerates the evolution of employees and the customer experiences. This also speeds up production and deployment of AI powered applications.  

With already successful implementations across multiple business functions from Lead to Cash, Procure to Pay and Customer Success, iOPEX aims to empower enterprises to unlock their full potential through digital innovation and iOPEX.AI marks a significant step forward in this journey by providing organisations with a comprehensive AI framework.  Simplicity and scalability are the major strengths of this model which will help in building enterprise AI solutions from the ground upwards.  iOPEX.AI is a strategic investment by iOPEX which would help businesses stay updated and relevant in the fast-changing digital world.  

The Science Based Targets Initiative (SBTi) Confirms Vitesco Technologies GHG Emissions Reduction Targets

* Rigorous evaluation methodology: the SBTi ensures that targets are consistent with scientific findings 

* Collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments 

* Important milestone on the road to decarbonization 

The ambitious emissions targets of Vitesco Technologies, a leading international supplier of modern powertrain technologies and e-mobility solutions, have now also been officially validated by the Science Based Targets initiative (SBTi). The associated certification demonstrates Vitesco Technologies’ commitment to climate change mitigation while also ensuring that it is in line with the objectives of the Paris Climate Agreement and stands up to scientific scrutiny.  

“Validation of our greenhouse gas (GHG) emissions reduction targets by the Science Based Targets initiative represents an important milestone in our climate journey,” explains Ingo Holstein, Executive Board member for Human Relations and chairman of Vitesco Technologies’ Sustainability Committee: “We are proud to be part of the global movement of companies that are actively combating climate change and wish to be measured on the basis of their statements.”  

Through a rigorous evaluation methodology and scientific investigation, the SBTi ensures that established goals are consistent with the best available scientific evidence. This is a joint initiative of CDP, the United Nations Global Compact, World Resources Institute (WRI) and World Wide Fund for Nature (WWF) and is one of the We Mean Business Coalition commitments. Its aim is to help companies around the world contribute toward limiting global warming to 1.5 degrees Celsius above pre-industrial levels. 

Accordingly, Vitesco Technologies is committed to reducing its own operational GHG emissions (Scope 1 and 2) by 100 percent by 2030. Vitesco Technologies is also committed to a 25 percent reduction in absolute Scope 3 greenhouse gas emissions by 2030, taking 2021 as a baseline. The SBTi’s assessment in accordance with the V5 standard has confirmed that the Group’s proposed emissions reduction trajectory is consistent with the Paris Climate Agreement’s 1.5 degrees Celsius target, currently the most ambitious target in the SBTi process.  

At Vitesco Technologies, sustainability is already embedded at the heart of its corporate strategy. Beyond science-based targets, Vitesco Technologies aims to achieve net-zero GHG emissions by 2040. Three key levers for decarbonization are the electrification of the product portfolio, life-cycle engineering, and carbon neutrality in the company’s own processes. This means eliminating materials, activities and processes that cause emissions to the greatest possible extent, or at least reducing or substituting them. 

AU SFB Becomes India’s First Bank To Provide “24x7 Video Banking Service”

*Revolutionizing banking services as per customer’s convenience and personalization, anytime, anywhere 

Transforming the landscape of banking services, AU Small Finance Bank (AU SFB), India's largest SFB, has achieved an unprecedented feat with the launch of its groundbreaking customer service “24x7 via Video Banking”.  

A trailblazer in the financial sector, AU Small Finance Bank proudly becomes the pioneer in India to introduce tailor-made video assisted branch-like experience, delivering a seamless banking right at customers' fingertips, regardless of time or location (seven days a week). This service provides a virtual platform where customers can communicate with a video banker in real-time via video calls, like video conferencing.  

Security stands paramount in the realm of Video Banking, with AU Small Finance Bank raising the bar with advanced encryption, AI-powered facial recognition, OTP and signature verification, and video validation. Every transaction and confidential piece of information is meticulously safeguarded, ensuring customers can engage with the platform with the utmost confidence. 

Now, AU SFB’s customers could revel in the convenience of services such as real-time account support, demographic updates, hassle-free financial transactions, effortless loans and Credit Card inquiries, efficient issue resolution related to all banking relationships, and beyond. 

AU SFB’s Video Banking transcends the conventional, catering effortlessly to a diverse spectrum of customer segments within the domestic market. In essence, AU’s 24x7 Video Banking extends the reach of banking services to areas with limited infrastructure and resources, offering a convenient and personalized banking experience that addresses the unique needs of tech-savvy millennials, new to banking customers, busy professionals, and senior citizens alike. 

Encapsulating the bank’s digital first vision, Mr. Uttam Tibrewal, Executive Director, AU Small Finance Bank said, “AU Small Finance Bank's foray into round-the-clock Video Banking represents a paradigm shift in modern banking. Even on holidays and weekends, AU’s dedicated team would ensure face-to-face, human-centric interactions, underscoring the bank's commitment to enhancing nationwide banking experiences. We empower our customers in this digital epoch by elevating accessibility and convenience to unparalleled heights.” 

Since its inception in 2021, Video Banking platform has enjoyed an overwhelming response, with an ever-growing number of customers across the nation embracing the tailored convenience and personalized support it offers. Notably, the most sought-after services through Video Banking include starting new Savings Account, Current Account and Credit Card relationship; getting all service-related resolutions; financial transactions; and end-to-end relationship management, drawing in a dedicated cohort of Lakhs of active users. Bolstered by an unwavering commitment to excellence, AU Small Finance Bank continuously augments and enriches its offerings, extending a multitude of benefits to its esteemed clientele. 

NEC Corporation India To Pioneer Intelligent Transportation System In UPSRTC Buses

* Project Supported by Nirbhaya Fund is a Milestone in Transforming Public Transport in Uttar Pradesh

NEC Corporation India (NEC India), a wholly owned subsidiary of NEC Corporation Japan, today announced that it has been selected as the master system integrator by Uttar Pradesh State Road Transport Corporation (UPSRTC) for the Vehicle Location Tracking-Passenger Information System (VLT-PSIS) project under the Nirbhaya fund of the Government of India. This ambitious project is aimed at resolving the critical issue of safety in buses and enhancing the overall travel experience of passengers traveling in UPSRTC buses through advanced cutting-edge technologies, such as live tracking of buses in an Integrated Command Control Centre (ICCC).

Under this project, AIS 140-based Vehicle Location Tracking (VLT) devices and emergency safety buttons will be installed across the majority of UPSRTC buses along with tracking of its entire fleet on the Uttar Pradesh state tracking platform. Large display screens will also be installed in around 100 major bus stations across the state to provide up-to-date real-time information to passengers.     Alongside the implementation of a well-equipped state-of-the-art ICCC solution at UPSRTC headquarters in Lucknow, 20 regional viewing centers will also be established in regional headquarters of the UPSRTC. The scope of the project also includes setting up of a cloud platform to host and deploy various software applications, including a Fleet Management System, Route Management System, and Passenger Information System which will support the monitoring of the bus fleet, optimizing its routes and offering real-time information to support safety and a more personalized experience for passengers through a mobile app. 

“The government has been working tirelessly over the last few years to create more advanced, smart, digitally-enabled, and above all, safe conditions. This project by UPSRTC is a significant extension of this effort, wherein we envision making public transport in Uttar Pradesh not only comfortable, convenient, and efficient, but safe for all members of the community,” said Shri Yajuvendra Kumar, General Manager (IT) UPSRTC.

“Out of the bids that we received, NEC India was the most experienced and competitive. As a leader in Integrated Transportation Systems, NEC India has successfully implemented many similar bus projects in India and the Middle East. We are excited to partner with NEC for this ambitious project and look forward to a successful launch of services,” he added. 

Talking about the project, Pankaj Bhatia, General Manager (Transportation Business), NEC India said, “As India makes huge strides in becoming a digitally enabled nation, it is crucial that our transport systems also become more equitable and smarter with time. At NEC, our endeavor has always been to make the lives of citizens safer and smarter through our cutting-edge technology solutions. We are extremely proud to be among the few solutions providers who are working towards this goal of digitally transforming the transportation sector in India. We are humbled by the trust placed by UPSRTC upon us to carry out this prestigious project. Given the domain expertise we have amassed over the years, from having deployed similar projects in other cities, both domestic and global, we are confident that we will be able to replicate similar success to UPSRTC as well.” 

NEC has already implemented similar large-scale projects across cities such as Ahmedabad, Surat and Hubballi Dharwad in India, as well as Makkah (Kingdom of Saudi Arabia) & Mowasalat (Qatar) in the Middle East, establishing its domain expertise throughout international markets. 

About NEC Corporation India (NEC India)

NEC is a leader in the integration of IT and network technologies and brings more than 124 years of expertise in technological innovation to provide solutions for empowering people, businesses, and society. Headquartered in Japan, NEC started operations in India in the 1950s, accelerating its growth through the expansion of business to global markets. NEC in India expanded its business from telecommunications to public safety, logistics, transportation, retail, finance, unified communication, and IT platforms, serving across governments, businesses as well as individuals. With its Centre of Excellence for analytics platform solutions, big data, biometrics, mobile and retail, NEC in India offers innovative new services and solutions for India and global markets. 

Manipal Institute of Technology Attains Prestigious Accreditation From The Institution of Engineering And Technology, UK

The Manipal Institute of Technology, a constituent college of Manipal Academy of Higher Education, has achieved a significant milestone by securing academic accreditation from The Institution of Engineering and Technology (IET), UK. The accreditation decision comes after a thorough evaluation conducted by the Academic Accreditation Committee during the visit to the Department of Engineering from 24th to 27th April 2023.

The IET, a renowned professional body for engineering and technology worldwide, has accepted the report and Action Plan submitted by the institute, leading to the accreditation of its UG and PG engineering programs. The accreditation signifies the high-quality education and standards maintained by the Manipal Institute of Technology. The rigorous accreditation process involved comprehensive assessments, ensuring that the academic programs offered by the institution meet the IET's stringent criteria for excellence in engineering education. As part of the accreditation, the Manipal Institute of Technology's programs have been granted an initial accreditation for a specified period, with a monitoring review scheduled for the academic year 2024/2025. The successful monitoring review will pave the way for a full 5-year accreditation extension.

The IET's accreditation serves as a mark of assurance to students, employers, and the engineering community that the programs offered by the Manipal Institute of Technology align with global standards. It signifies the institute's dedication to fostering technical excellence, innovation, and ethical practices within its engineering education. In addition to recognizing the institute's achievement, Michelle Richmond, Director of Membership and Professional Development at The Institution of Engineering and Technology, emphasized the importance of the accreditation process's transparency. She commended the Manipal Institute of Technology for its cooperation during the evaluation and encouraged them to share the visit report with external examiners, further promoting transparency.

"We are pleased to receive the accreditation from The Institution of Engineering and Technology, UK, this accomplishment validates our commitment to providing outstanding engineering education and preparing students for successful careers in the industry. We extend our gratitude to the Academic Accreditation Committee for their meticulous evaluation and guidance throughout the process." said Commander (Dr) Anil Rana, Director, Manipal Institute of Technology (MIT).

About Manipal Institute of Technology:

The Manipal Institute of Technology, a constituent college of Manipal Academy of Higher Education, is a premier engineering institute with a legacy of producing top-notch engineers, fostering research, and innovation. Offering a wide range of undergraduate, postgraduate, and doctoral programs in engineering, the institute is committed to providing a conducive learning environment and empowering students to become leaders in the field of engineering and technology.

About The Institution of Engineering and Technology (IET), UK:

The IET is a globally respected professional body representing engineers and technicians. With a rich heritage dating back to 1871, the IET strives to inspire, inform, and influence the global engineering community, supporting technological innovation and promoting engineering excellence for the benefit of all. Through its accreditation process, the IET ensures the highest standards in engineering education are met, fostering a skilled and competent engineering workforce.

Tata Motors Joins Hands With South Indian Bank, Offers Exclusive Financing Program For Authorized Passenger EV Dealers

In a bid to make this festive season special, Tata Motors, India’s leading automotive manufacturer, has joined hands with South Indian Bank, one of India’s leading private sector banks, to extend an exclusive Electric Vehicle Dealer Financing Program and offering comprehensive retail financing solutions to all customers.

The MoU for this partnership was signed by Mr. Ramesh Dorairajan, Senior General Manager – Network Management & EV Sales, Tata Motors Passenger Vehicles Ltd. and Mr. Praveen Joy, Head, Transaction Banking Group, South Indian Bank.

Commenting on the partnership, Mr. Ramesh Dorairajan, Senior General Manager – Network Management & EV Sales, Tata Motors Passenger Vehicles Ltd. said, “Driving EV adoption in India is an integral part of our strategy and we are happy to have collaborators who are aligned to the same. This partnership with South Indian Bank for an exclusive financing program for our authorized electric passenger vehicle dealers is a step forward in this direction. Our dealer partners form an integral part in our journey towards enabling widespread EV adoption in India, and we are positive that this initiative will further allow us to democratize electric vehicles in the country.”

Speaking on this partnership, Mr. Murali Ramakrishnan, MD & CEO, South Indian Bank said, “We are delighted to have associated with Tata Motors to offer a financing program exclusively for their passenger electric vehicle dealers. This program will help the bank to expand its asset base and expand into newer consumer segments. We look forward to continuing our association with Tata Motors with various programs and offers to meet their dealers’ and consumers’ needs.”

Tata Motors has been pioneering the Indian automotive market with its groundbreaking efforts and is currently leading the e-mobility wave in India with a commanding market share of 71% with over 90,000 EVs produced till date in personal and fleet segments. 

South Indian Bank is a pioneer in technology-based banking, offering an array of digital products and services. It has one of the youngest workforces in the banking sector in the country. The Bank’s Vision 2024 focuses on the 6 Cs - capital, CASA, cost-to-income, competency building, customer focus, and compliance.

Star Health And Allied Insurance Enters Into Bancassurance Tie-Up With Standard Chartered Bank

Partnership to provide health insurance solutions across 100 branches in 42 cities

A significant step in enhancing health insurance solutions among urban affluent

Tie-up will ensure new potential customers avail a comprehensive product line and excellent customer service.

Star Health and Allied Insurance, India's leading standalone health insurer, has established a strategic corporate alliance with Standard Chartered Bank. Under this collaboration, Standard Chartered Bank will offer Star Health's insurance products through their extensive branch network across India. This collaboration showcases Star Health's commitment to customer service, its robust reputation, and its proven history of success within the insurance sector.

Through this strategic agreement, Star Health will make its top-notch health insurance products readily accessible to customers via Standard Chartered Bank's extensive distribution network. With 100 branches spread across 42 cities, the bank will serve as a convenient one-stop destination for its customers seeking comprehensive health insurance coverage.

This strategic alliance will enhance Star Health distribution network. As of 30th June 2023, the company has over 6.4 lakh agents and 38 bancassurance partners.

The escalating healthcare costs in India have resulted in an unprecedented surge in the demand for health insurance. Customers now require comprehensive policies that cater to their medical requirements, encompassing benefits such as OPD Care, Hospi Cash, and Critical Illness covers. Moreover, there is an increasing emphasis on health and fitness, leading to a growing interest in customized wellness programs. Recognizing this, Star Health provides personalised wellness programs that address the unique health and wellness needs of individuals. The company's team of experienced doctors works closely with policyholders, ensuring they attain their specific health goals. Additionally, Star Health provides telemedicine services, staffed by over 550 experienced doctors across various specializations, enhancing policyholders’ access to quality healthcare.

This partnership will help Star Health touch new lives through its wide array of customer friendly products and service.

Anand Roy, MD and CEO, Star Health and Allied Insurance Co. Ltd. said, "At Star Health, our commitment lies in tailoring health insurance to cater to a wide spectrum of customers, encompassing even those with substantial financial portfolios. Our health insurance policies are meticulously crafted to cater to the varied health insurance requirements of individuals, offering holistic protection for every customer. By collaborating with Standard Chartered, a reputed international bank with a strong presence in key Indian markets, we not only expand the reach of insurance in these areas but also deliver top-tier services that align with the distinct needs of India's affluent clientele."

Saurabh Jain, MD & Head, Wealth Management India, Standard Chartered Bank said “Health and protection are key needs today for clients managing their wealth, with Standard Chartered’s Wealth Expectancy Report for 2022 revealing that over 54% of respondents in India have prioritised health and wellness post the pandemic. We are pleased to partner with Star Health and bring their products and services to address the evolving health needs of our clients.”

This partnership will help increase insurance penetration in India and will contribute to Star Health’s endeavour to make quality health insurance accessible to everyone in every part of the country.

About Star Health Insurance:

Star Health and Allied Insurance Co Ltd (BSE:543412 | NSE:STARHEALTH) commenced its operations in 2006 as India’s first Standalone Health Insurance Company with business interests in Health, Personal Accident and Overseas Travel Insurance. The company uses its vast resources to focus on service excellence and product innovation to deliver the best to its customers. Star Health has been providing innovative health insurance products to individuals, families and corporates, directly and through various channels – agents, brokers, online and digital channels like web aggregators, fintech, etc. Star Health is also a prominent Bancassurance player with long standing relationship with various banks. 

Star Health currently has 835 branch offices spread across 25 states and 5 union territories in India. These existing branches are also supplemented by an extensive network of over 369 Sales Managers Stations (“SMS”), which are small individual service centres, located across India. As of 31st March 2023, the company has 14,203 network hospitals pan India.  In FY23, Star Health had a gross written premium of Rs. 12,952 crore and a net worth of Rs. 5,430 crore. 

Star Health and Allied Insurance Company Limited is listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) 

For more information, visit www.starhealth.in