#Report on Embedded Finance

[paynxt360fintech]

Starbucks reshaping its loyalty program through prepaid card system

Starbucks is all set to launch its new loyalty program effective from April this year. The major change which has been implemented in the new loyalty program is the earning of stars. In the old system, the number of stars earned was based on the count of transactions of a customer. In the new system, the stars would be awarded based on the amount spent at each transaction. Another significant aspect of the loyalty program is that, the prepaid card system will be launched by the end of 2016, which would function like a Visa Card and would be acceptable at other retail outlets too. The reward point structure on the card usage outside of Starbucks has yet not been structured, but it will soon be in place.

[mariacallous]

In mid-September, Russians at War, a documentary by the Russian Canadian filmmaker Anastasia Trofimova, was supposed to be screened at the Toronto International Film Festival. At the last minute, after protests from the Ukrainian community and the office of Ukrainian President Volodymyr Zelensky, the festival first pulled the picture, only to return it to the program a week later.

What made the documentary so controversial was that, although many films have chronicled the devastation caused by Russia’s ongoing invasion of Ukraine, including the Oscar-winning 20 Days in Mariupol, Trofimova’s work focused on the invaders. The filmmaker, embedded with a Russian unit for seven months, humanized Moscow’s troops as lost, confused, and disheveled. The men joke, miss their families, and even criticize the Russian government, though they never speak against Putin. A love-on-the-front-lines plot trains the viewer’s sympathy on the soldiers, even while the film avoids any reference to atrocities committed by Russian forces in Ukraine.

So is Russians at War a propaganda film, as its Ukrainian critics argue? Financed in part by the Canada Media Fund and produced in partnership with Ontario’s public broadcaster TVO, Russians at War avoids the trope of “Russian savior liberates ancestral lands from NATO invaders” that is typical of Kremlin propaganda. But all of Trofimova’s previous documentaries, filmed in Syria, the Democratic Republic of the Congo, and Iraq, were made for RT—the Kremlin’s global propaganda network. In an interview with Deadline, Trofimova claimed that she embedded with a Russian unit without any military authorization, and just “stuck around.” In a country where a Wall Street Journal reporter gets sentenced to 16 years for merely handling a piece of paper, an independent filmmaker roaming the front lines, filming military installations, and interviewing soldiers without facing repercussions raises questions. Trofimova did not respond to a request for comment for this article.

One thing that the confused response to Russians at War makes clear is that eight years after the revelation that Moscow attempted to influence a U.S. presidential election, most Westerners still don’t really know how Russian propaganda campaigns work. Americans have become familiar with AI botnets, salaried trolls tweeting in broken English about Texas secession, deranged Russian TV hosts calling for a nuclear strike on New York, and alt-right has-beens. But what to make of a French and Canadian documentary, tucked between Pharrell’s Lego-animated film and a Q&A with Zoe Saldaña, that seems cozy with the Russian military and blurs the line between entertainment and politics?

Here is a clue: The Kremlin’s information war in the West is reminiscent of the one it fought—and won—on the home front. I know this because I was in that earlier war, and, regrettably, I fought on the wrong side.

I began working for Kremlin-linked media during my junior year in college. At the time, the Russian government was apparently hoping that by leveraging high energy prices, it could regain a bit of the influence it had lost after the Cold War. The state called this being an “energy superpower.” In practice, high oil and gas prices abroad translated into more Michelin chefs, German cars, and Italian suits for the select few at home.

In 2005, a close friend introduced me to Konstantin Rykov, known as the godfather of the Russian internet and, later, the man who revolutionized digital propaganda in Russia. In 1998, he launched a website called fuck.ru, which included a provocative magazine and mixed Moscow nightlife, humor, and art. With a blend of pop culture and media savvy, Rykov built an empire of news websites, tabloids, and even online games.

Rykov’s latest endeavor at the time of our meeting was The Bourgeois Journal, a glossy luxury-lifestyle magazine aimed at Russia’s affluent class. He hired me to head up the St. Petersburg bureau, not because of my background in student journalism, but in large part because I grew up in Boston, meaning that I was fluent in English and, apparently, the ways of the West. During my interview (a sushi-and-vodka breakfast), the word Kremlin never came up.

Rykov made the Journal available, for free, only at the most exclusive restaurants, gyms, private clinics, and five-star hotels. Inside, between ads for Richard Mille watches and prime London real estate, were interviews with figures such as Vladimir Medinsky and Alexander Dugin—now the ideologues behind Russia’s war in Ukraine. In a single issue, you could read a review of a restaurant located in a 15th-century building in Maastricht, an essay about the West’s fear of a strong Russia, and a report from Art Basel. The Bourgeois Journal used luxury to mask propaganda aimed at Russia’s elite.

Like many people working in Russian propaganda at the time, I didn’t agree with the narrative that my publication was spreading. And, as most people in propaganda will tell you, I was simply doing my job. I was there a little over a year—selling ads, reviewing restaurants, and occasionally interviewing a Western celebrity. The tedious essays on Russia’s place in the world were outweighed by the benefits of running a magazine for the rich: private palaces, private parties, and escapes to the Caribbean sun—something that the birthplace of Dostoyevsky had little of.

After the success of The Bourgeois Journal, Rykov launched Russia.ru, the country’s first online television network, in 2007. Here, pro-Kremlin news ran alongside obscene reality shows, attracting nearly 2.5 million viewers a month. The network’s slogan, “Glory to Russia”—now a battle cry in Russia’s war in Ukraine—demonstrated just how seamlessly Rykov blended patriotism with entertainment to reach an enormous audience.

Building on this, Rykov introduced ZaPutina (“For Putin”), a movement designed to help Vladimir Putin secure an unconstitutional third term. The project included an online platform that aggregated news from various sources, including original reporting from its own correspondents; a ZaPutina campaign bus to take Kremlin-loyal bloggers across the country; and attractive women—proto-influencers—who attended press conferences, introducing themselves by name and their outlet (“For Putin”) before asking their questions.

My biggest contribution to Russian propaganda came in 2009. By then, Russia was positioning itself as an inventive, Western-oriented economy. Vladislav Surkov—an adman, a poet, a columnist, and a Kremlin ideologue—dubbed this period one of “managed democracy,” which will likely be remembered as the midpoint between Russia’s post-Soviet anarchy and its modern-day fascism. Political parties were numerous, but all controlled from the Kremlin, as was almost every form of media. Yet the country sought a veneer of freedom. That’s where Honest Monday came in—a prime-time talk show that I co-created, wrote, and co-produced.

Our remit was to reach the sorts of viewers who ignored the in-your-face messaging of broadcast talk shows. Each week, the Kremlin assigned these shows a topic it wanted highlighted, and most would comply in a very blunt fashion: Do this, vote for that, Russia’s great. With a young host and a flashy studio modeled on French TV, Honest Monday took a different approach. Every week, I wrote up a summary of the left, center, and right perspectives on the topic we were given; I also delineated a viewpoint that reflected the Kremlin’s stance on the matter and sketched a justification for why this view was better than the other three. The producers would then scour the country for guests whose views reflected each of the three perspectives. The three speakers—politicians, celebrities, or pundits—had to defend their stance to, say, a factory worker we flew in from Siberia whose experience was relevant to the topic we covered. The debates were real, many of them heated, and with views contradicting the Kremlin’s. Still, the house always won.

Toward the end of our first season, the ratings for Honest Monday dipped, and the Kremlin’s tolerance waned. The network introduced a new director. As I recall, he outlined for us his vision of the show’s future: “When the viewers tune in, the first thing they should do is shit themselves.”

The Kremlin instructed us to take aim at the powerless Russian opposition, and in a matter of weeks, the messaging turned into outright bashing of everything that stood against Putin. I resigned—publicly—by sanctimoniously calling the show’s producers and host “Kremlin shills.” A couple of years later, two people connected with the Russian propaganda machine lured me outside and assaulted me in broad daylight (one of them later tweeted that he was motivated by a personal issue rather than a political one). When I hit the ground, half a mile from the Kremlin, I was finally out of the game.

Perhaps Rykov’s greatest contribution to Russian propaganda remains his cadre of media managers and propagandists, who now grace Kremlin corridors (and U.S. Treasury sanctions lists). One such protégé was Vladimir Tabak. Formerly a producer at Russia.ru, he rose to prominence in 2010, when he organized a now-infamous birthday calendar for Putin, featuring 12 female students posing in lingerie and captioned with quotes like “I love you,” “Who else but you?,” and “You’re only better with age.” The calendar, designed to create buzz and cultivate Putin’s image, dominated the news cycle for weeks. In an interview with the model Naomi Campbell, Putin even commented on how much he liked it. Legend has it that Surkov personally approved the project.

Although Tabak’s initial endeavor may have seemed playful, his later efforts illustrate just how insidious his propaganda techniques have become. Since 2020, Tabak has led Dialog, a powerful, Kremlin-affiliated organization tasked with controlling and shaping all social-media narratives in the country. If someone uses social media to criticize, say, the mayor of a small town, Dialog knows about it. According to a joint investigation by the independent Russian outlets Meduza, The Bell, and iStories, the organization took on a significant role during the coronavirus pandemic, virtually monopolizing the flow of COVID-related information in Russia by launching the website Stopkoronavirus.rf as the primary source for daily pandemic updates (the investigation report notes that Dialog denies being associated with this site).

At the height of the pandemic, the Kremlin decided to hold a vote on constitutional amendments that would allow Putin to serve two more terms, and Dialog immediately shifted to encouraging people to go to the polls, downplaying COVID-19 concerns. Later, after the full-scale invasion of Ukraine, Dialog was reportedly tasked with spreading fake news about the war not just in Russia, but in Ukraine. Some of the narratives included Ukrainian soldiers selling their awards on eBay, high-ranking Ukrainian officials owning expensive property in the European Union, and Kyiv ordering the mobilization of women.

Tabak’s organization has become a key player in Russia’s digital warfare abroad, including in its most recent campaign targeting Western audiences. On September 4, the U.S. Justice Department seized numerous internet domains allegedly involved in Russia’s Doppelganger campaign—an influence operation designed to undermine international support for Ukraine and bolster pro-Russian interests. The domains, many of them made to resemble legitimate news outlets, were linked to Russian companies, including Dialog. According to an unsealed affidavit, the goal of the operation was to spread covert Russian propaganda, manipulate voter sentiment, and influence the 2024 U.S. presidential election.

Doppelganger appears to be a sophisticated operation that used deepfakes, AI, and cybersquatting (registering domains designed to mimic legitimate websites). But the Kremlin’s real innovations were those it employed in Russia in the 1990s; in the West today, it is simply repeating the same playbook using new technology. Washingtonpost.pm, a fake news website created to spread Russian propaganda, was an evolution of the fake newspapers that circulated in Russia during the ’90s ahead of elections. The purpose of those outlets—made to resemble legitimate media but filled with kompromat, gossip, and propaganda—was to get the right people elected.

Since the start of the full-scale invasion of Ukraine, Russian propaganda has churned out absurd and repulsive lies, such as that Ukraine has biolabs where NATO scientists are working on a virus that targets Slavic DNA, and that Zelensky, who is Jewish, presides over a neo-Nazi regime. Yet, in a way, it has become honest with itself—at least for the domestic audience. There’s no longer a need for platforms like Russia.ru or The Journal, because the message is clear: This is who we are, and you’re either with us or against us. And yet, the entertainment aspect didn’t disappear. Rather, it was absorbed into the propaganda machine through the Institute for Internet Development.

Founded in 2015 with Kremlin backing, and currently under the direction of the former Journal producer Alexey Goreslavsky, the IID helps direct state funds toward producing everything from box-office releases to YouTube videos, blogs, and video games. With a yearly budget of more than $200 million, it dwarfs any private film studio or streaming platform in Russia.

Since the full-scale invasion of Ukraine, the institute has become the go-to hub for content. Initially, its output was dull and overtly propagandistic, but that has changed. Its catalog now includes 20/22, a TV series about a soldier fighting in Ukraine and his anti-war girlfriend, as well as A Thug’s Word, a 1980s period piece about a street gang, which became the No. 1 show in Russia and surprisingly popular in Ukraine—much to the dismay of the Ukrainian government. A Thug’s Word contains no politics, no war, and no Putin, yet IID—a propaganda organization—considers it its greatest success, because it legitimized the institute in the world of popular entertainment, which it fought so hard to break into.

One reason Russian propaganda is running circles around the West is that the internet was one of the few domains where the Russian state arrived late, forcing it to co-opt those who understood it. RuNet, the Russian segment of the World Wide Web, was created—and run—by people like Rykov: artsy 20-somethings, filled with cynicism, post-Soviet disillusionment, and a cyberpunk mentality. The collapse of the Soviet Union taught them that truth was whatever they wanted it to be, and that survival was the ultimate goal. The advertising executives, philosophy students, and creatives who once made video art, lewd calendars, and scandalous zines are the same minds who in 2016 said, “Let’s make memes about Hillary Clinton,” and in 2024 suggested using AI to flood X with believable comments. In many ways, this confrontation mirrors what’s happening in Ukraine: This time, however, the West is the massive, unwieldy force being outsmarted by a smaller, more tech-savvy adversary.

The good news is that the Kremlin is a graveyard of talent. In time, every gifted person I knew who went behind its brick walls was devoured by deceit, paranoia, and fear of losing one’s place in the sun. Konstantin Rykov was exceptional at his job, so much so that the Kremlin offered him a seat in the Russian Parliament when he was just 28. He accepted the offer. But being a member of the Duma Committee on Science and High Technologies and the Committee for Support in the Field of Electronic Media wasn’t the same as being the editor of fuck.ru. Despite being involved in some foreign influence operations, Rykov, now 45, hasn’t produced any significant work for Russian audiences since he joined Parliament.

Asked by an audience member in Toronto whether Russia was responsible for the war in Ukraine, Trofimova replied, “I think there are a lot of other factors involved. Yeah, like they are definitely sending troops in to solve whatever grievances there are.” Even if it wasn’t financed by Moscow, Russians at War reminds me of a Rykov production: slick, scandalous, and with a ton of free press. The message the film conveys is that war, not the country that started it, is bad in this scenario. Trofimova seems to portray Russia’s invasion of Ukraine, and the astonishing scale of the atrocities it has committed there, as something impersonal and inexorable, like a tsunami: We can only accept it and sympathize with the victims, including Russian soldiers.

I stopped working for the Kremlin long before the Russo-Ukrainian war, and whatever I did as the head of a magazine bureau and as a talk-show producer pales in comparison with what some of my former colleagues are doing today. Still, I know that in every bullet flying toward Ukraine—the country where my parents were born—there’s a small part of me. I wonder if Trofimova sees that she’s part of it, too.

[mightyflamethrower]

(America First Report)—Iran appears to be on the verge of attacking Israel directly. This will be the second time they have attacked this year following a series of drone and missile strikes on April 13. Rumors of war percolate as both sides have vowed to escalate beyond a single-day skirmish.

Secretary of Defense Lloyd J. Austin III communicated with his Israeli counterpart, Yoav Gallant, to reaffirm U.S. backing for Israel as tensions escalate with Iran and its proxies, raising the specter of a broader regional conflict following ten months of fighting against Hamas militants in the Gaza Strip.

During their conversation, Austin and Gallant discussed U.S. military positioning adjustments aimed at reinforcing defenses for U.S. troops in the region, supporting Israel’s defense, and deterring and defusing broader regional tensions, as per a statement from the Pentagon.

This discussion took place as Israeli Prime Minister Benjamin Netanyahu informed a Cabinet meeting that Israel is already engaged in a “multi-front war” with Iran and its proxies.

Tensions in the region have reached unprecedented levels following the recent killing of a senior Hezbollah commander in Lebanon and Hamas’ top political leader in Iran. Both Iran and its allies have pointed fingers at Israel and threatened retaliation. Hamas has begun the process of selecting a new leader.

Netanyahu stated that Israel is prepared for any scenario. In a rare move, Jordan’s foreign minister traveled to Iran as part of diplomatic efforts, with the aim to quell the escalation.

Meanwhile, Secretary of State Antony Blinken reportedly informed his counterparts on Sunday that Iran and Hezbollah might launch attacks against Israel as early as Monday, according to Axios.

Gen. Michael Erik Kurilla, head of the U.S. Central Command (CENTCOM), is expected to arrive in Israel on Monday to coordinate preparations for the anticipated attack, according to the Times of Israel.

President Biden is also set to convene with his national security team in the situation room on Monday to discuss the Middle East situation, as reported by Reuters.

In Israel, some have prepared bomb shelters, recalling Iran’s unprecedented direct military assault in April following a suspected Israeli strike that killed two Iranian generals. Israel claimed that nearly all the drones and ballistic and cruise missiles were intercepted.

“For years, Iran has been arming and financing terrorist organizations across the Middle East, including smuggling explosives into Israeli territory for terror attacks against civilians,” IDF Spokesperson Rear Admiral Daniel Hagar said in a statement. “The IDF and ISA have already thwarted numerous attacks in which Claymore type explosives were smuggled into the country’s territory. We are determined to continue acting against Iranian terrorism wherever it may be.”

The war in Gaza was sparked by Hamas’ October 7 attack on Israel, which resulted in the deaths of approximately 1,200 people, mostly civilians, and the abduction of around 250 individuals. Israel’s ongoing counteroffensive has been brutal as they seek to completely eliminate Hamas, which has embedded itself among citizens of Gaza, using them as human shields.

The militant group Hezbollah and Israel have continued to exchange fire along the Lebanon border since the war began, with the intensity increasing in recent months. Hezbollah stated that its actions are intended to alleviate pressure on fellow Iran-backed ally Hamas.

[xettle-technologies]

The impact of sustainability in fintech: reflections from the summit

In recent years, the Fintech industry has witnessed a paradigm shift towards sustainability, with an increasing emphasis on integrating environmental, social, and governance (ESG) factors into financial decision-making processes. This transformative trend took center stage at the latest Fintech Summit, where industry leaders converged to explore the intersection of sustainability and financial technology. Among the prominent voices shaping this discourse was Xettle Technologies, a trailblazer in Fintech software solutions, whose commitment to sustainability is driving innovation and reshaping the future of finance.

Against the backdrop of global challenges such as climate change, resource depletion, and social inequality, the imperative for sustainable finance has never been greater. The Fintech Summit provided a platform for thought leaders to reflect on the role of technology in advancing sustainability goals and fostering a more resilient and equitable financial ecosystem.

At the heart of the discussions was the recognition that sustainability is not just a moral imperative but also a strategic imperative for Fintech firms. By integrating ESG considerations into their operations, products, and services, Fintech companies can mitigate risks, enhance resilience, and unlock new opportunities for growth and value creation. Xettle Technologies’ representatives underscored the company’s commitment to sustainability, highlighting how it is embedded in the company’s culture, innovation agenda, and business strategy.

One of the key themes that emerged from the summit was the role of Fintech in driving sustainable investment. Through innovative solutions such as green bonds, impact investing platforms, and ESG scoring algorithms, Fintech firms are empowering investors to allocate capital towards environmentally and socially responsible projects and companies. Xettle Technologies showcased its suite of Fintech software solutions designed to facilitate sustainable investing, enabling financial institutions and investors to align their portfolios with their values and sustainability objectives.

Moreover, the summit explored the transformative potential of blockchain technology in advancing sustainability goals. By enhancing transparency, traceability, and accountability in supply chains, blockchain can help address issues such as deforestation, forced labor, and conflict minerals. Xettle Technologies’ experts elaborated on the company’s blockchain-based solutions for supply chain finance and sustainability reporting, emphasizing their role in promoting ethical sourcing, responsible production, and fair labor practices.

In addition to sustainable investing and supply chain transparency, the summit delved into the role of Fintech in promoting financial inclusion and resilience. By leveraging technology and data analytics, Fintech firms can expand access to financial services for underserved populations, empower small and medium-sized enterprises (SMEs), and build more inclusive and resilient communities. Xettle Technologies’ representatives shared insights into the company’s initiatives to support financial inclusion through digital payments, microfinance, and alternative credit scoring models.

Furthermore, the summit highlighted the importance of collaboration and partnership in advancing sustainability goals. Recognizing the interconnected nature of sustainability challenges, participants underscored the need for cross-sectoral collaboration between Fintech firms, financial institutions, governments, civil society, and academia. Xettle Technologies reiterated its commitment to collaboration, emphasizing its partnerships with industry stakeholders to drive collective action and scale impact.

Looking ahead, the future of sustainability in Fintech appears promising yet complex. As Fintech firms continue to innovate and disrupt traditional financial systems, they must prioritize sustainability as a core principle and driver of value creation. Xettle Technologies’ visionaries reiterated their commitment to sustainability, pledging to harness the power of technology to build a more sustainable, inclusive, and resilient financial ecosystem for future generations.

In conclusion, the Fintech Summit served as a catalyst for reflection and action on the role of sustainability in shaping the future of finance. From sustainable investing and supply chain transparency to financial inclusion and resilience, Fintech has the potential to drive positive change and advance sustainability goals on a global scale. Xettle Technologies’ leadership in integrating sustainability into its  Fintech solutions exemplifies its dedication to driving innovation and creating shared value for society and the planet. As the industry continues to evolve, collaboration, innovation, and sustainability will be key drivers of success in building a more sustainable and resilient financial future.

[analyticsbyvijay]

Future of Robo-Advisors in Wealth Management

The future of robo-advisors in wealth management is poised for significant evolution, driven by advancements in technology, changing customer expectations, and regulatory developments. Below are some key trends and considerations that outline their trajectory:

1. Enhanced Personalization Through AI and Machine Learning

Advanced algorithms: Future robo-advisors will use AI and machine learning to offer hyper-personalized financial advice based on individual spending habits, life goals, and market behavior.

Behavioral finance integration: By analyzing emotional and cognitive patterns, they can help clients make better financial decisions.

Dynamic portfolios: Robo-advisors will increasingly offer real-time portfolio adjustments based on shifting market conditions or client needs.

2. Hybrid Models: Human + Robo Collaboration

Human oversight: Many clients prefer human interaction for complex decisions. Hybrid models, which combine automated solutions with human advisors, will dominate the market.

Enhanced service levels: High-net-worth individuals (HNWIs) may benefit from robo-advisors handling routine tasks while human advisors focus on bespoke strategies.

3. Expansion into Niche Markets

Accessibility: Robo-advisors are democratizing wealth management, enabling access for previously underserved groups (e.g., younger investors or those with lower net worth).

Specialized services: Tailored solutions for specific life stages (retirement, education planning) or investment strategies (ESG-focused portfolios) are becoming a key differentiator.

4. Integration with Emerging Technologies

Blockchain: Enhanced transparency and security through blockchain-based solutions for reporting, trading, and custody.

IoT and real-time data: Devices and systems that track financial behavior (e.g., spending patterns) could directly feed into investment strategies.

Voice assistants: Integration with virtual assistants like Alexa or Google Assistant for seamless portfolio inquiries and updates.

5. Global Market Expansion

Localized solutions: As robo-advisors expand globally, they will adapt to diverse regulatory environments, cultural preferences, and local market nuances.

Emerging economies: Growth in fintech adoption will open opportunities in regions like Southeast Asia, Africa, and Latin America.

6. Regulatory and Ethical Considerations

Data privacy and security: Regulators will impose stricter compliance requirements, particularly concerning AI-driven decision-making and personal data protection.

Transparency in algorithms: Consumers and regulators will demand more clarity on how algorithms work to ensure fairness and minimize biases.

7. Integration of Holistic Financial Wellness

Beyond investments: Robo-advisors will move beyond portfolio management to address broader financial needs like budgeting, tax optimization, insurance planning, and debt management.

Life-planning tools: They will incorporate goal-setting and tracking capabilities, making them indispensable life-planning companions.

8. Cost Efficiency and Competitive Pricing

Fee compression: With competition increasing, robo-advisors will drive down costs further, benefiting consumers.

Freemium models: Some providers may offer basic services for free, upselling advanced features or human consultations.

9. ESG and Ethical Investing

Increased demand: Investors are increasingly prioritizing environmental, social, and governance (ESG) factors. Robo-advisors will refine tools for selecting and monitoring ESG-compliant investments.

Customized values alignment: Advisors may allow users to align portfolios with personal values or social causes.

10. Consolidation and Strategic Partnerships

Mergers and acquisitions: Smaller robo-advisors may consolidate or partner with established financial institutions for scalability and credibility.

Embedded finance: Partnerships with tech platforms, e-commerce sites, or digital wallets will enable robo-advisory services to integrate seamlessly into consumers’ daily lives.

Key Challenges

While the outlook is optimistic, challenges remain:

Trust: Some investors may still prefer human advisors, particularly during volatile markets.

Algorithm limitations: Robo-advisors must balance automation with nuanced, situation-specific decision-making.

Digital divide: Accessibility to technology remains a barrier in certain regions and demographics.

[brilliotechnology]

Building a Greener Future: Brillio’s Commitment to Sustainability

Sustainability is no longer just an option for businesses; it is a responsibility. In an era of environmental challenges, economic inequality, and increasing social awareness, organizations must step up to contribute positively to the world. Brillio has taken this responsibility seriously by embedding sustainability into its core operations. Through impactful corporate sustainability initiatives, a robust focus on environmental sustainability governance, and efforts to foster social sustainability, Brillio is shaping a future that balances business success with global responsibility.

What Sustainability Means to Brillio

Sustainability for Brillio goes beyond reducing carbon footprints or making charitable contributions. It is about integrating sustainable practices into every facet of its business to create long-term value for people, the planet, and the organization itself. Brillio’s approach revolves around three key pillars:

Environmental Sustainability Governance: Focused on minimizing the environmental impact of operations while promoting eco-friendly innovations.

Corporate Sustainability Initiatives: Building strategies that align with global goals like the United Nations Sustainable Development Goals (SDGs).

Social Sustainability: Empowering communities, fostering diversity, and prioritizing employee well-being.

Environmental Sustainability Governance

Brillio recognizes that environmental challenges such as climate change, resource depletion, and pollution demand urgent action. The company has implemented strong environmental sustainability governance to address these issues. Here’s how Brillio is making a difference:

Reducing Carbon Footprint: By optimizing energy consumption across offices and investing in renewable energy solutions, Brillio aims to significantly lower greenhouse gas emissions.

Waste Management: The company has adopted sustainable waste management practices, including recycling programs and minimizing single-use plastics in its operations.

Green Innovation: Brillio leverages technology to develop digital solutions that help clients reduce their environmental impact. From energy-efficient software to AI-powered systems for optimizing resource use, the focus is on innovation that benefits the planet.

These efforts ensure that Brillio not only complies with environmental regulations but also leads the way in promoting green business practices.

Corporate Sustainability Initiatives

For Brillio, sustainability is woven into its business strategy. Through corporate sustainability initiatives, the company demonstrates its commitment to addressing global challenges while creating value for stakeholders.

Sustainable Supply Chain: Brillio works with suppliers and partners who share its commitment to sustainability, ensuring that ethical and environmentally friendly practices are upheld across the supply chain.

Technology for Good: Leveraging its expertise in digital transformation, Brillio collaborates with clients to implement solutions that drive sustainability in industries such as retail, healthcare, and finance. These solutions include AI for energy optimization, blockchain for transparent supply chains, and cloud technologies to reduce IT infrastructure waste.

Transparent Reporting: Brillio maintains accountability through detailed sustainability reports, which outline its goals, achievements, and areas for improvement. This transparency builds trust with stakeholders and drives continuous progress.

By aligning its initiatives with international standards and frameworks, Brillio is contributing to a more sustainable and equitable future.

Social Sustainability: Empowering People and Communities

Sustainability isn’t just about the environment—it’s also about people. Brillio’s focus on social sustainability ensures that the benefits of its growth extend to employees, communities, and society at large.

Diversity and Inclusion: Brillio fosters a workplace culture that values diversity, equity, and inclusion. By promoting representation across gender, ethnicity, and backgrounds, the company creates an environment where everyone can thrive.

Employee Well-Being: Brillio prioritizes employee mental health, offering wellness programs, flexible work options, and professional development opportunities.

Community Engagement: Through initiatives like the Brillio Foundation, the company supports education, skill development, and technology access for underprivileged communities. Programs like these empower individuals to build better futures while addressing systemic challenges like poverty and inequality.

Brillio’s social sustainability efforts demonstrate its belief that true business success is measured by its impact on people’s lives.

The Bigger Picture: A Sustainable Future

Brillio’s sustainability efforts are part of a larger vision to contribute meaningfully to the global sustainability movement. The company’s work supports international goals such as the Paris Agreement, the United Nations SDGs, and regional environmental initiatives.

Moreover, Brillio is not just focusing on short-term gains. Its approach ensures long-term impact by creating a culture of sustainability among employees, partners, and clients. From educating stakeholders about sustainable practices to advocating for systemic change, Brillio is building momentum for a greener and more equitable future.

Join Brillio on Its Sustainability Journey

Sustainability is a shared responsibility. Brillio’s efforts in environmental sustainability governance, corporate sustainability initiatives, and social sustainability set an inspiring example for businesses worldwide. By leveraging technology, fostering inclusivity, and embracing accountability, Brillio proves that businesses can drive both profit and purpose.

As the challenges facing our planet and society grow, so too does the opportunity for impactful action. Join Brillio on its mission to create a sustainable future—because the time to act is now. Together, we can build a world where business success and sustainability go hand in hand.

[tracedataresearch]

India Corporate Training Market to Witness Robust Growth with a Projected CAGR of 14% During 2024-2028

Korea SMEs and Startups Agency (KOSME) has introduced the Korean Corporate Competency Training Program, a specialized initiative designed to equip Indian university graduates with the skills needed to work in Korean companies. This program addresses the increasing need for cross-cultural awareness and corporate expertise as Korean businesses expand globally, with particular emphasis on strengthening their presence in the Indian market.

Focus will be on enhancing experiential learning through technologies like AR/VR, the Metaverse, and microlearning concepts. Courses on data and business analytics, AI-ML, cybersecurity, and cloud infrastructure are anticipated to be in high demand.

Rising Demand for Skill-Based Training: The Indian corporate training market is experiencing a surge in demand for skill-based programs, especially in technology, management, and soft skills. Companies are aligning their training strategies with government initiatives like Skill India and National Skill Development Corporation (NSDC) goals. These programs aim to address workforce competency gaps and enhance productivity. From a company’s perspective, upskilling boosts employee retention and efficiency. The government encourages collaborations between corporations and training institutions under Public-Private Partnership (PPP) models to strengthen the labor force and drive economic growth.

Increased Emphasis on ESG Training: Environmental, Social, and Governance (ESG) training is becoming a priority for Indian businesses to meet compliance and sustainability goals. Companies focus on sensitizing employees to sustainability practices, workplace diversity, and corporate governance. With increasing mandates from SEBI (Securities and Exchange Board of India) on ESG disclosures for listed companies, training helps in embedding ESG principles into business operations. The government’s emphasis on green policies, such as the National Action Plan on Climate Change (NAPCC), aligns with corporate strategies, making ESG training essential for maintaining competitive and regulatory edge.

Blended Learning Models: Corporations in India are adopting hybrid training models that combine classroom and digital learning. This trend aligns with the government’s Digital India initiative to promote technology in education. Blended models allow companies to balance cost-efficiency with effective learning outcomes. From an operational perspective, this approach offers scalability, enabling nationwide training for dispersed teams. The government push for improved internet connectivity through BharatNet plays a significant role in facilitating the growth of online training, particularly in semi-urban and rural areas.

Focus on Leadership and Governance Training: Indian companies are emphasizing leadership development programs to build governance capabilities in senior management. This trend is driven by the Companies Act, 2013, which mandates robust corporate governance structures, including board effectiveness and director responsibilities. Training in governance practices is critical for compliance and strategic decision-making. The government initiatives, such as the Insolvency and Bankruptcy Code (IBC), emphasize the need for well-trained leadership in handling business restructuring and resolution processes, ensuring companies remain resilient in a dynamic economic environment.

The report titled “India Corporate Training Market Outlook to 2029- By Market Structure (In-House and Outsourced Trainings), By Training Type (Technical Skills, Soft Skills, Compliance, and Leadership Development), By Industry Verticals (Finance, IT, Manufacturing, Healthcare, and Retail), By Organization Size” by TraceData Research said that the technical sector dominates the market growth as technical trainings are generally given to employees at the start of their professional journey in a company. Due to the pandemic, business operations were shifted to work from home model therefore many employees were on their own due to which they felt the need for technical skills. 

To Know More Details About the Sector, Please Follow the Link: -

India Corporate Training Market

Related Reports by Trace Data:

Indonesia Corporate Training Market Outlook to 2029

Malaysia Corporate Training Market Outlook to 2029

Contact Us: -

Mohit Kadian

support@tracedataresearch.com

+91-9266849840

[oracle-fusion-financials-1]

An Overview of the Oracle Fusion Interface and Its Key Components

Oracle Fusion Applications represent a comprehensive suite of business applications designed to work seamlessly across finance, human resources, supply chain management, and more. It leverages cloud technology to deliver an adaptable, scalable platform with an intuitive interface, making it accessible and efficient for both end-users and administrators. Here, we’ll explore the Oracle Fusion interface and its key components to help you navigate this powerful platform effectively.

Understanding the Oracle Fusion Interface

The Oracle Fusion interface is designed to be user-friendly, with a focus on role-based access and efficiency. The layout is clear and organized, which allows users to quickly find and use the tools and information they need. Key features of the Oracle Fusion interface include customizable dashboards, role-based navigation, quick-access tools, and real-time analytics, all accessible from the cloud.

Key Components of the Oracle Fusion Interface

Home Page (Springboard)

The Home Page, or Springboard, is the main landing page after logging into Oracle Fusion. It provides easy access to applications, tools, and real-time data. With a modern, icon-based design, it resembles a smartphone screen, allowing users to access tasks and functions directly. Icons are customized based on the user’s role, providing a personalized experience that eliminates unnecessary clutter and improves task efficiency.

Global Search

Oracle Fusion features a powerful, context-aware Global Search that helps users quickly locate tasks, records, and information across the entire application suite. This feature is especially useful in large organizations where data is extensive. Users can use search filters and keywords to navigate through different modules and access information in seconds.

Navigator Menu

The Navigator menu provides a centralized location for all the applications and modules available to a user. Users can view a comprehensive list of available tasks and modules, organized by categories. This menu is particularly helpful for users who need to work across multiple applications, as it enables quick switching between different modules.

Infolets and Dashboards

Infolets are mini-reports or data snapshots on the Oracle Fusion interface that provide real-time insights into business operations. Dashboards offer a more extensive view and present relevant data in various formats, such as graphs, charts, and tables. Both Infolets and Dashboards are customizable, allowing users to view and interact with data that is most relevant to their role and responsibilities.

Work Areas

Work Areas are specific areas within the application designed to focus on particular tasks, such as managing invoices or tracking expenses. They include task-specific tools and reports, consolidating information and actions in one place. Work Areas are often used in finance and human resources functions, where users benefit from having a focused area for repetitive or related tasks.

Notifications and Alerts

Oracle Fusion includes a notification system that provides alerts for important events, approvals, and other actionable items. Notifications help users stay informed about tasks requiring immediate action, ensuring a smooth workflow. These can appear in the user’s inbox, on the homepage, or as pop-up messages, depending on user preferences.

Reports and Analytics

Reporting and analytics in Oracle Fusion allow users to generate various types of reports across financials, human resources, and other functions. The platform offers predefined reports and customization options, along with embedded analytics to monitor key performance indicators (KPIs). Users can view insights in real time and make informed decisions based on up-to-date information.

Social Networking Features

Oracle Fusion incorporates social networking tools to facilitate collaboration across teams and departments. Features like messaging, document sharing, and group discussions allow users to collaborate within the system, eliminating the need for external communication tools and promoting a cohesive work environment.

Accessibility Options

To accommodate users with different needs, Oracle Fusion includes various accessibility options. Users can customize screen reader settings, use keyboard navigation, and adjust display settings to ensure accessibility, ensuring that the platform is inclusive for all users.

Benefits of the Oracle Fusion Interface

The Oracle Fusion interface offers several key benefits:

User-Friendly Design: The interface is designed with ease of use in mind, making navigation intuitive, even for those who are new to Oracle applications.

Customizability: The dashboard, notifications, and work areas can be tailored to meet individual needs, boosting productivity.

Role-Based Access: With its role-based design, users have access only to the tools and data relevant to their role, which increases security and minimizes complexity.

Real-Time Analytics: Built-in analytics and reporting features make it easier to access real-time data and make data-driven decisions.

Conclusion

Oracle Fusion’s interface is a vital component of its success, offering an intuitive, role-based design that facilitates efficient workflows across multiple business functions. With powerful features like Global Search, customizable dashboards, and embedded analytics, users can streamline processes and make informed decisions in real time. Whether you're a finance professional, HR specialist, or IT administrator, understanding these core components will help you navigate the Oracle Fusion platform with confidence and ease. To Your bright future join Oracle Fusion Financials.

[paynxt360fintech]

India introduces Unified Payments Interface to promote mobile money services

The National Payment Corporation of India (NPCI) recently launched unified payments interface (UPI), with the objective of extending mobile money services in India. UPI will allow users to receive and transfer money through their mobile phones from their existing bank accounts, utilizing unique identification details such as their Aadhaar number, mobile number, or a virtual payments address, without being required to enter their presonal credentials such as bank account details or security pins.

[govindhtech]

Google Cloud Document AI Layout Parser For RAG pipelines

Google Cloud Document AI

One of the most frequent challenges in developing retrieval augmented generation (RAG) pipelines is document preparation. Parsing documents, such as PDFs, into digestible parts that can be utilized to create embeddings frequently calls for Python expertise and other libraries. In this blog post, examine new features in BigQuery and Google Cloud Document AI that make this process easier and walk you through a detailed sample.

Streamline document processing in BigQuery

With its tight interaction with Google Cloud Document AI, BigQuery now provides the capability of preprocessing documents for RAG pipelines and other document-centric applications. Now that it’s widely available, the ML.PROCESS_DOCUMENT function can access additional processors, such as Document AI’s Layout Parser processor, which enables you to parse and chunk PDF documents using SQL syntax.

ML.PROCESS_DOCUMENT’s GA offers developers additional advantages:

Increased scalability: The capacity to process documents more quickly and handle larger ones up to 100 pages

Simplified syntax: You can communicate with Google Cloud Document AI and integrate them more easily into your RAG workflows with a simplified SQL syntax.

Document chunking: To create the document chunks required for RAG pipelines, access to extra Document AI processor capabilities, such as Layout Parser,

Specifically, document chunking is a crucial yet difficult step of creating a RAG pipeline. This procedure is made simpler by Google Cloud Document AI Layout Parser. Its examine how this functions in BigQuery and soon illustrate its efficacy with a real-world example.

Document preprocessing for RAG

A large language model (LLM) can provide more accurate responses when huge documents are divided into smaller, semantically related components. This increases the relevance of the information that is retrieved.

To further improve your RAG pipeline, you can generate metadata along with chunks, such as document source, chunk position, and structural information. This will allow you to filter, refine your search results, and debug your code.

A high-level summary of the preparation stages of a simple RAG pipeline is given in the diagram below:Image credit to Google cloud

Build a RAG pipeline in BigQuery

Because of their intricate structure and combination of text, numbers, and tables, financial records such as earnings statements can be difficult to compare. Let’s show you how to use Document AI’s Layout Parser to create a RAG pipeline in BigQuery for analyzing the Federal Reserve’s 2023 Survey of Consumer Finances (SCF) report. You may follow along here in the notebook.

Conventional parsing methods have considerable difficulties when dealing with dense financial documents, such as the SCF report from the Federal Reserve. It is challenging to properly extract information from this roughly 60-page document because it has a variety of text, intricate tables, and embedded charts. In these situations, Google Cloud Document AI Layout Parser shines, efficiently locating and obtaining important data from intricate document layouts like these.

The following general procedures make up building a BigQuery RAG pipeline using Document AI’s Layout Parser.

Create a Layout Parser processor

Make a new processor in Google Cloud Document AI of the LAYOUT_PARSER_PROCESSOR type. The documents can then be accessed and processed by BigQuery by creating a remote model that points to this processor.

Request chunk creation from the CPU

SELECT * FROM ML.PROCESS_DOCUMENT( MODEL docai_demo.layout_parser, TABLE docai_demo.demo, PROCESS_OPTIONS => ( JSON ‘{“layout_config”: {“chunking_config”: {“chunk_size”: 300}}}’) );

Create vector embeddings for the chunks

Using the ML.GENERATE_EMBEDDING function, its will create embeddings for every document chunk and write them to a BigQuery table in order to facilitate semantic search and retrieval. Two arguments are required for this function to work:

The Vertex AI embedding endpoints are called by a remote model.

A BigQuery database column with information for embedding.

Create a vector index on the embeddings

Google Cloud build a vector index on the embeddings to effectively search through big sections based on semantic similarity. In the absence of a vector index, conducting a search necessitates comparing each query embedding to each embedding in your dataset, which is cumbersome and computationally costly when working with a lot of chunks. To expedite this process, vector indexes employ strategies such as approximate nearest neighbor search.

CREATE VECTOR INDEX my_index ON docai_demo.embeddings(ml_generate_embedding_result) OPTIONS(index_type = “TREE_AH”, distance_type = “EUCLIDIAN” );

Retrieve relevant chunks and send to LLM for answer generation

To locate chunks that are semantically related to input query, they can now conduct a vector search. In this instance, inquire about the changes in average family net worth throughout the three years covered by this report.

SELECT ml_generate_text_llm_result AS generated, prompt FROM ML.GENERATE_TEXT( MODEL docai_demo.gemini_flash, ( SELECT CONCAT( ‘Did the typical family net worth change? How does this compare the SCF survey a decade earlier? Be concise and use the following context:’, STRING_AGG(FORMAT(“context: %s and reference: %s”, base.content, base.uri), ‘,\n’)) AS prompt, FROM VECTOR_SEARCH( TABLE docai_demo.embeddings, ‘ml_generate_embedding_result’, ( SELECT ml_generate_embedding_result, content AS query FROM ML.GENERATE_EMBEDDING( MODEL docai_demo.embedding_model, ( SELECT ‘Did the typical family net worth increase? How does this compare the SCF survey a decade earlier?’ AS content ) ) ), top_k => 10, OPTIONS => ‘{“fraction_lists_to_search”: 0.01}’) ), STRUCT(512 AS max_output_tokens, TRUE AS flatten_json_output) );

And have an answer: the median family net worth rose 37% between 2019 and 2022, a substantial rise over the 2% decline observed over the same time a decade earlier. If you look at the original paper, you’ll see that this information is located throughout the text, tables, and footnotes areas that are typically difficult to interpret and draw conclusions from together!

Although a simple RAG flow was shown in this example, real-world applications frequently call for constant updates. Consider a situation in which a Cloud Storage bucket receives new financial information every day. Consider using Cloud Composer or BigQuery Workflows to create embeddings in BigQuery and process new documents incrementally to keep your RAG pipeline current. When the underlying data changes, vector indexes are automatically updated to make sure you are always querying the most recent data.

Read more on Govindhtech.com

[news365timesindia]

[ad_1] Home Credit India, a local arm of the leading global consumer finance provider, has released the findings of its annual consumer study - How India Borrows. The sixth edition of the study reported a significant shift in borrowing patterns among the lower-middle-class consumers, transitioning from survival-driven borrowing to one fuelled by aspirations, entrepreneurship, and long-term investments. This transformation reflects India's evolving socio-economic landscape, where consumers are increasingly focused on improving their quality of life, empowered by greater access to credit and the growth of digital platforms.How India Borrows 2024Speaking on the sixth consumer study, Ashish Tiwari, Chief Marketing Officer, Home Credit India, said, "Our latest How India Borrows 2024 study highlights a transformational shift in the borrowing behaviour among the lower-middle-class borrowers. It shows an increasing preference towards borrowing for consumer durables and small business ventures and consumer's growing comfort with app-based banking, chatbots for customer service, WhatsApp payments, and digital literacy, reflecting not only the evolving financial aspirations of borrowers to enhance their lifestyle and income opportunities, but also the growing role of digital platforms in making credit more accessible. The study also points out the strong affinity towards embedded finance and EMI-based financing and the importance of raising awareness around data privacy. Keeping this in mind, Home Credit India remains committed to providing transparent, secure, convenient, and accessible financial solutions, empowering consumers on their journey towards a better quality of life and fostering a responsible and inclusive financial future for all, thus partnering with them in making their #ZindagiHit."Borrowing Behaviour Among ConsumersAccording to the study, most of the loans were taken to purchase consumer durables, followed by lending for business and house renovation. For example, borrowing for smartphones and home appliances increased from 1% in 2020 to 37% in 2024, indicating a continuous rise in borrowing for acquiring new technology and consumer durables. Borrowing for business expansion and start-ups jumped from 5% in 2020 to 21% in 2024, fuelling a sustained entrepreneurial momentum as individuals sought new income streams and opportunities, driven by pandemic-related economic shifts and strong government support for MSMEs through credit schemes and subsidies. Borrowing for home renovation/construction saw a modest rise, from 9% in 2022 to 15% in 2024, reflecting the rising consumer interest in improving living conditions, enhancing home value, an optimistic economic outlook, and a focus on long-term investment in assets.The study further showed stable trends in education loans, which remained at 4% from 2022 to 2024, underscoring the continued importance of children's education. Borrowing for marriages gradually increased from 3% in 2021 to 5% in 2024, highlighting the continued cultural importance of fulfilling social commitments. Interestingly, borrowing for medical emergencies has dropped significantly, from 7% in 2020 to 3% in 2024, which could be attributed to improved financial planning, more affordable healthcare options, and better access to insurance.Rise in Digital Financial TransactionsThe study indicated that as consumers become more tech-savvy, their borrowing habits are also shifting towards app-based banking, with 65% favouring it over browser-based banking (44%) in 2024. This trend reflects the consumers growing preference for convenience, 24/7 financial access over traditional branch visits, and heightened digital literacy. App-based banking is most popular among Millennials (69%), followed by Gen Z (65%) and Gen X (58%). Geographically, Metros lead with 71% adoption, followed by Tier 2 cities at 69%. Browser-based banking, meanwhile, sees higher usage among Gen Z and Millennials at 47% each, with Gen X having the lowest usage at 35%.

Online shopping has also shown a pattern of normalisation following the peak disruptions caused by the COVID-19 pandemic. In 2021, usage of online shopping hit 69% due to health and safety concerns but dropped to 48% in 2023 as restrictions eased. By 2024, it has slightly rebounded to 53%. Women (60%), Millennials (59%), Gen Z (58%), Metros and Tier 2 cities (56% each) now drive this trend. Kolkata (71%), Kochi (66%), Hyderabad (64%), Chennai (60%), and Ranchi (59%) are the top five cities in terms of online shoppers.Increased Usage of Chatbots and WhatsAppAs per the study, Chatbots are gaining traction in customer service, with 27% of middle-class borrowers citing familiarity with the tool, up 4% from last year. Awareness is stronger among Gen Z at 30%. Additionally, 38% of borrowers find chatbots easy to use for customer service, and 29% trust the responses provided by them.WhatsApp has also redefined the communication landscape, becoming a key channel in the lending space due to its user-friendly features and widespread adoption. It continues to gain prominence, with 59% of borrowers receiving loan offers via WhatsApp. Trust in loan offers received on WhatsApp has also grown, rising from 24% in 2023 to 26% in 2024, reflecting increasing confidence in this digital platform. Loan offers received on WhatsApp are prevalent among Gen Z (61%), and in Tier 1 cities (67%).Growing Adoption of Embedded Finance and EMI Cards Driven by their convenience in credit-related transactions, the adoption of innovative financial solutions, like embedded finance and EMI cards, is on the rise. There has been a nuanced shift in customer attitude towards embedded finance, with 43% of customers expressing interest in these services. Almost 50% of the borrowers in favour of embedded finance agree that embedded finance makes borrowing faster and e-commerce shopping simpler. For example, 64% favoured major e-commerce platforms (like Amazon, Flipkart, Meesho, etc), followed by 21% opting for travel apps (like MakeMyTrip, ClearTrip, etc.), and 23% using food delivery apps (like Zomato, Swiggy, etc).According to the study, interest in embedded finance is notably higher among Gen Z (55%) and Men (45%), highlighting a demographic divide in engagement. Additionally, customers in Tier 1 cities, particularly in urban centers, such as Lucknow (68%), Patna (53%), Ahmedabad (52%), Bhopal (52%), and Ranchi (52%), exhibited a greater propensity towards embedded finance.EMI Cards remained the most popular credit tool among the lower-middle-class borrowers in India, with 43% citing them as their preferred option due to greater trust and faster disbursals. Other popular sources for obtaining loans include credit cards, preferred by 24% of borrowers, and digital lending apps, preferred by 12%.Balance Between Digital Convenience and Human ConnectionA growing shift in loan acquisition patterns was noticed in the study, with 48% of borrowers opting to visit physical branches, underscoring the enduring preference for face-to-face interactions; 30% of borrowers opting to complete applications online, reflecting the growing confidence in technology and convenience; and 22% of borrowers relying on customer care representatives, highlighting the need for human intervention.Borrowing preferences differ notably by region. In Tier 1 and Tier 2 cities like Kochi (85%), Lucknow (73%), and Ranchi (69%), borrowers prefer physical branches, indicating that people value personal interaction and trust. Meanwhile, borrowers in metropolitan cities such as Bengaluru (64%), Hyderabad (53%), and Chennai (48%) increasingly lean towards online channels due to accessibility and tech familiarity, reflecting their openness to digital financial services.Interestingly, the preference for digital loan channels for future credit needs has declined by 10% from the previous year, signalling an increasing demand for more personalised, human-centred lending solutions. For financial companies, this shift

emphasises the need to enhance customer experiences by blending digital efficiency with empathetic human support, redefining the loan acquisition process to better resonate with modern consumers.Awareness of Data PrivacyThe study also highlighted a growing awareness gap regarding data privacy guidelines among borrowers. 24% of borrowers have claimed to have heard of the data privacy requirements that lending companies must implement, an 8% increase from last year, but this understanding is superficial as their knowledge on the subject is negligible. Nearly half (48%) of the lower-middle-class borrowers don't understand anything about the data protection guidelines, highlighting the need for increased transparency and education from financial institutions and regulators.In terms of comprehension of the data protection rules and guidelines, approximately 40% of borrowers claim to understand, with 38% recognising that these guidelines prohibit unauthorised data sharing. Borrowers from Kochi (49%) and Chennai (43%) seem to be more digitally advanced and claim to understand the usage of personal data. However, only 15% of borrowers are aware that these guidelines specifically pertain to the use of their data exclusively for the loan application process, a 3% increase compared to last year.The study also found that about 58% of borrowers are concerned about how their personal data is collected and used by lending apps. Almost half of the borrowers (57%) voiced that they don't have any control over their personal data with the lending apps, and 49% of the borrowers feel that the lending apps collect more data than required. Although less than one-fourth (23%) of the borrowers understand the usage of their personal data by lending apps, a strong demand for transparency exists as more than three-fourths (76%) of borrowers seek clarity on the usage of their personal data. Tier 1 (87%), Gen Z (80%), and Men (78%) are particularly interested in learning about the use of their personal data.Need for Financial LiteracyThe study also showed varying levels of interest in financial education. 15% of borrowers reported needing assistance while using internet banking, loan applications, payment wallets, and other critical online financial tasks, indicating that a notable portion of users, especially Women (17%), Gen X (24%) and borrowers in Tier 1 cities (18%), still encounter challenges or lack confidence in managing their financial activities digitally.33% of borrowers, on the other hand, expressed a desire for guidance from reputable organisations on the usage of internet related tasks, particularly Gen Z (40%), Women, (37%), and borrowers in Tier 1 and Tier 2 (36% each), demonstrating a stronger demand for being equipped or educated to effectively manage online financial tasks.The How India Borrows 2024 study was conducted across 17 cities including Delhi-NCR, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad, Pune, Ahmedabad, Lucknow, Jaipur, Bhopal, Patna, Ranchi, Chandigarh, Ludhiana, Kochi, and Dehradun. The sample size consisted of approx. 2500 borrowers in the age group of 18-55 years, with an average income of Rs. 31,000 per month.About Home Credit IndiaHome Credit India Finance Pvt. Ltd. is a local arm of the international consumer finance provider Home Credit International with operations spanning Europe and Asia. The company is committed to drive credit penetration and financial inclusion by offering wide financial solutions that are simple, transparent, and accessible to all. Home Credit India has an employee base of 3800 and has been consistently expanding operations since its entry in 2012, with its operations spread over 625 cities across India. The company has a strong network of around 53,000 points-of-sale (PoS) and is growing with a customer base of over 17 million customers, driven by Pan-India expansion across major markets, a range of diversified and innovative products backed by superior customer experience.For more information, visit www.homecredit.co.in.

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[news365times]

[ad_1] Home Credit India, a local arm of the leading global consumer finance provider, has released the findings of its annual consumer study - How India Borrows. The sixth edition of the study reported a significant shift in borrowing patterns among the lower-middle-class consumers, transitioning from survival-driven borrowing to one fuelled by aspirations, entrepreneurship, and long-term investments. This transformation reflects India's evolving socio-economic landscape, where consumers are increasingly focused on improving their quality of life, empowered by greater access to credit and the growth of digital platforms.How India Borrows 2024Speaking on the sixth consumer study, Ashish Tiwari, Chief Marketing Officer, Home Credit India, said, "Our latest How India Borrows 2024 study highlights a transformational shift in the borrowing behaviour among the lower-middle-class borrowers. It shows an increasing preference towards borrowing for consumer durables and small business ventures and consumer's growing comfort with app-based banking, chatbots for customer service, WhatsApp payments, and digital literacy, reflecting not only the evolving financial aspirations of borrowers to enhance their lifestyle and income opportunities, but also the growing role of digital platforms in making credit more accessible. The study also points out the strong affinity towards embedded finance and EMI-based financing and the importance of raising awareness around data privacy. Keeping this in mind, Home Credit India remains committed to providing transparent, secure, convenient, and accessible financial solutions, empowering consumers on their journey towards a better quality of life and fostering a responsible and inclusive financial future for all, thus partnering with them in making their #ZindagiHit."Borrowing Behaviour Among ConsumersAccording to the study, most of the loans were taken to purchase consumer durables, followed by lending for business and house renovation. For example, borrowing for smartphones and home appliances increased from 1% in 2020 to 37% in 2024, indicating a continuous rise in borrowing for acquiring new technology and consumer durables. Borrowing for business expansion and start-ups jumped from 5% in 2020 to 21% in 2024, fuelling a sustained entrepreneurial momentum as individuals sought new income streams and opportunities, driven by pandemic-related economic shifts and strong government support for MSMEs through credit schemes and subsidies. Borrowing for home renovation/construction saw a modest rise, from 9% in 2022 to 15% in 2024, reflecting the rising consumer interest in improving living conditions, enhancing home value, an optimistic economic outlook, and a focus on long-term investment in assets.The study further showed stable trends in education loans, which remained at 4% from 2022 to 2024, underscoring the continued importance of children's education. Borrowing for marriages gradually increased from 3% in 2021 to 5% in 2024, highlighting the continued cultural importance of fulfilling social commitments. Interestingly, borrowing for medical emergencies has dropped significantly, from 7% in 2020 to 3% in 2024, which could be attributed to improved financial planning, more affordable healthcare options, and better access to insurance.Rise in Digital Financial TransactionsThe study indicated that as consumers become more tech-savvy, their borrowing habits are also shifting towards app-based banking, with 65% favouring it over browser-based banking (44%) in 2024. This trend reflects the consumers growing preference for convenience, 24/7 financial access over traditional branch visits, and heightened digital literacy. App-based banking is most popular among Millennials (69%), followed by Gen Z (65%) and Gen X (58%). Geographically, Metros lead with 71% adoption, followed by Tier 2 cities at 69%. Browser-based banking, meanwhile, sees higher usage among Gen Z and Millennials at 47% each, with Gen X having the lowest usage at 35%.

Online shopping has also shown a pattern of normalisation following the peak disruptions caused by the COVID-19 pandemic. In 2021, usage of online shopping hit 69% due to health and safety concerns but dropped to 48% in 2023 as restrictions eased. By 2024, it has slightly rebounded to 53%. Women (60%), Millennials (59%), Gen Z (58%), Metros and Tier 2 cities (56% each) now drive this trend. Kolkata (71%), Kochi (66%), Hyderabad (64%), Chennai (60%), and Ranchi (59%) are the top five cities in terms of online shoppers.Increased Usage of Chatbots and WhatsAppAs per the study, Chatbots are gaining traction in customer service, with 27% of middle-class borrowers citing familiarity with the tool, up 4% from last year. Awareness is stronger among Gen Z at 30%. Additionally, 38% of borrowers find chatbots easy to use for customer service, and 29% trust the responses provided by them.WhatsApp has also redefined the communication landscape, becoming a key channel in the lending space due to its user-friendly features and widespread adoption. It continues to gain prominence, with 59% of borrowers receiving loan offers via WhatsApp. Trust in loan offers received on WhatsApp has also grown, rising from 24% in 2023 to 26% in 2024, reflecting increasing confidence in this digital platform. Loan offers received on WhatsApp are prevalent among Gen Z (61%), and in Tier 1 cities (67%).Growing Adoption of Embedded Finance and EMI Cards Driven by their convenience in credit-related transactions, the adoption of innovative financial solutions, like embedded finance and EMI cards, is on the rise. There has been a nuanced shift in customer attitude towards embedded finance, with 43% of customers expressing interest in these services. Almost 50% of the borrowers in favour of embedded finance agree that embedded finance makes borrowing faster and e-commerce shopping simpler. For example, 64% favoured major e-commerce platforms (like Amazon, Flipkart, Meesho, etc), followed by 21% opting for travel apps (like MakeMyTrip, ClearTrip, etc.), and 23% using food delivery apps (like Zomato, Swiggy, etc).According to the study, interest in embedded finance is notably higher among Gen Z (55%) and Men (45%), highlighting a demographic divide in engagement. Additionally, customers in Tier 1 cities, particularly in urban centers, such as Lucknow (68%), Patna (53%), Ahmedabad (52%), Bhopal (52%), and Ranchi (52%), exhibited a greater propensity towards embedded finance.EMI Cards remained the most popular credit tool among the lower-middle-class borrowers in India, with 43% citing them as their preferred option due to greater trust and faster disbursals. Other popular sources for obtaining loans include credit cards, preferred by 24% of borrowers, and digital lending apps, preferred by 12%.Balance Between Digital Convenience and Human ConnectionA growing shift in loan acquisition patterns was noticed in the study, with 48% of borrowers opting to visit physical branches, underscoring the enduring preference for face-to-face interactions; 30% of borrowers opting to complete applications online, reflecting the growing confidence in technology and convenience; and 22% of borrowers relying on customer care representatives, highlighting the need for human intervention.Borrowing preferences differ notably by region. In Tier 1 and Tier 2 cities like Kochi (85%), Lucknow (73%), and Ranchi (69%), borrowers prefer physical branches, indicating that people value personal interaction and trust. Meanwhile, borrowers in metropolitan cities such as Bengaluru (64%), Hyderabad (53%), and Chennai (48%) increasingly lean towards online channels due to accessibility and tech familiarity, reflecting their openness to digital financial services.Interestingly, the preference for digital loan channels for future credit needs has declined by 10% from the previous year, signalling an increasing demand for more personalised, human-centred lending solutions. For financial companies, this shift

emphasises the need to enhance customer experiences by blending digital efficiency with empathetic human support, redefining the loan acquisition process to better resonate with modern consumers.Awareness of Data PrivacyThe study also highlighted a growing awareness gap regarding data privacy guidelines among borrowers. 24% of borrowers have claimed to have heard of the data privacy requirements that lending companies must implement, an 8% increase from last year, but this understanding is superficial as their knowledge on the subject is negligible. Nearly half (48%) of the lower-middle-class borrowers don't understand anything about the data protection guidelines, highlighting the need for increased transparency and education from financial institutions and regulators.In terms of comprehension of the data protection rules and guidelines, approximately 40% of borrowers claim to understand, with 38% recognising that these guidelines prohibit unauthorised data sharing. Borrowers from Kochi (49%) and Chennai (43%) seem to be more digitally advanced and claim to understand the usage of personal data. However, only 15% of borrowers are aware that these guidelines specifically pertain to the use of their data exclusively for the loan application process, a 3% increase compared to last year.The study also found that about 58% of borrowers are concerned about how their personal data is collected and used by lending apps. Almost half of the borrowers (57%) voiced that they don't have any control over their personal data with the lending apps, and 49% of the borrowers feel that the lending apps collect more data than required. Although less than one-fourth (23%) of the borrowers understand the usage of their personal data by lending apps, a strong demand for transparency exists as more than three-fourths (76%) of borrowers seek clarity on the usage of their personal data. Tier 1 (87%), Gen Z (80%), and Men (78%) are particularly interested in learning about the use of their personal data.Need for Financial LiteracyThe study also showed varying levels of interest in financial education. 15% of borrowers reported needing assistance while using internet banking, loan applications, payment wallets, and other critical online financial tasks, indicating that a notable portion of users, especially Women (17%), Gen X (24%) and borrowers in Tier 1 cities (18%), still encounter challenges or lack confidence in managing their financial activities digitally.33% of borrowers, on the other hand, expressed a desire for guidance from reputable organisations on the usage of internet related tasks, particularly Gen Z (40%), Women, (37%), and borrowers in Tier 1 and Tier 2 (36% each), demonstrating a stronger demand for being equipped or educated to effectively manage online financial tasks.The How India Borrows 2024 study was conducted across 17 cities including Delhi-NCR, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad, Pune, Ahmedabad, Lucknow, Jaipur, Bhopal, Patna, Ranchi, Chandigarh, Ludhiana, Kochi, and Dehradun. The sample size consisted of approx. 2500 borrowers in the age group of 18-55 years, with an average income of Rs. 31,000 per month.About Home Credit IndiaHome Credit India Finance Pvt. Ltd. is a local arm of the international consumer finance provider Home Credit International with operations spanning Europe and Asia. The company is committed to drive credit penetration and financial inclusion by offering wide financial solutions that are simple, transparent, and accessible to all. Home Credit India has an employee base of 3800 and has been consistently expanding operations since its entry in 2012, with its operations spread over 625 cities across India. The company has a strong network of around 53,000 points-of-sale (PoS) and is growing with a customer base of over 17 million customers, driven by Pan-India expansion across major markets, a range of diversified and innovative products backed by superior customer experience.For more information, visit www.homecredit.co.in.

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[allthebrazilianpolitics]

Banks losing ground in payment methods

BCG advises banks to expand into areas adjacent to payments or develop new business models

A global study by the Boston Consulting Group (BCG) reveals that major banks are losing market share in the payment methods sector, with fintechs experiencing faster growth. According to BCG, to remain competitive, banks should expand their operations into areas adjacent to payments or develop new business models.

“Current models are not competitively sustainable, and banks cannot afford to lose more market share,” states the study. The document highlights that there are currently almost 6,500 active payment fintechs worldwide, which have already received $125 billion in investments over the past 25 years. “Reinventing payments requires significant investment in technology. Banks must update their infrastructure to stand out and scale effectively.”

The report notes that large banks generally have a vast database that could be utilized for cross-selling and to help companies better reach retail customers. Additionally, there is a significant opportunity in embedded finance, something already being done by technology-oriented companies. “Software platforms have gained significant customer adoption by incorporating payments into their offerings. Banks can do something similar by developing solutions for specific industry verticals and making them available on their own platforms as well as those managed by software providers.”

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Ensuring Compliance and Risk Management with ERP Solutions: The Role of SAP B1

Introduction

Ensuring compliance and managing risks are critical for maintaining business integrity and protecting organizational assets. ERP solutions like SAP Business One (SAP B1) offer features that support compliance and risk management by providing visibility and control over business processes. This essay explores the role of SAP B1 in ensuring compliance and managing risks.

Centralized Compliance Management

SAP B1 centralizes compliance management by integrating regulatory requirements and internal controls into the ERP system. This centralization ensures that compliance-related tasks are managed efficiently and consistently. For example, SAP B1 includes features for tracking regulatory changes, managing compliance documentation, and ensuring adherence to industry standards.

Automated Risk Management

Automation is a key feature of SAP B1 that supports risk management by reducing manual effort and minimizing errors. Automated processes such as financial reconciliation, audit trails, and compliance checks help businesses manage risks more effectively. For instance, automated financial reconciliation reduces the risk of discrepancies and ensures accurate financial reporting.

Real-Time Compliance Monitoring

SAP B1 provides real-time compliance monitoring through customizable dashboards and reports. Businesses can access up-to-date information on compliance status, risk indicators, and regulatory changes. For example, real-time compliance monitoring allows businesses to identify and address potential issues before they escalate.

Comprehensive Audit Trails

Audit trails are a critical feature of SAP B1 that support compliance and risk management by tracking changes to data and transactions. Comprehensive audit trails provide transparency and accountability, facilitating regulatory audits and internal reviews. For example, businesses can use audit trails to verify financial transactions and ensure compliance with accounting standards.

Enhanced Data Security

Data security is essential for protecting sensitive information and managing risks. SAP B1 includes features for securing data through access controls, encryption, and regular backups. For example, businesses can implement role-based access controls to restrict data access to authorized users and protect against data breaches.

Integration with Risk Management Processes

SAP B1 integrates risk management processes with other business functions, such as finance, procurement, and inventory management. This integration ensures that risk management is embedded into daily operations and supports proactive risk mitigation. For example, integration with procurement processes helps businesses manage supplier risks and ensure compliance with contractual obligations.

Conclusion

ERP solutions like SAP Business One play a crucial role in ensuring compliance and managing risks. By centralizing compliance management, automating risk management, providing real-time monitoring, offering comprehensive audit trails, enhancing data security, and integrating with risk management processes, SAP B1 helps businesses maintain regulatory compliance and protect against risks. For organizations seeking to enhance compliance and risk management, SAP B1 provides a valuable solution.

Article in courtesy of MPS Solutions - SAP Business One Software Solutions - ERP Software Solutions and Customisation, CRM, Accounting, and IT helpdesk outsource, remote, onsite, support services for all your company in Singapore.

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