Category: In The News

Funding Roundup: New Delhi-based Pine Labs Nabs a $600 Million Investment Round | In the News

This week, some of the more notable funding rounds included sizeable capital raises for a New Delhi fintech and two European companies, indicating investors ever increasing interest in making headway into Asian and EU markets. Here are the Bank Automation News highlights.

“Younited’s key proposition is the faster credit decisioning cycle and the enablement of fair and transparent P2P lending to support customer’s life events (travel, marriage, home buying) or business needs,” Ronak Doshi, vice president at research and consulting firm Everest Group, told BAN.

Read more in Bank Automation News

Digital Transformation: 3 Post-pandemic Best Practices | In the News

Don’t let common challenges like silos and change management slow your organization’s digital transformation success.
But success is far from guaranteed. Past data shows that a majority of companies struggle to make these initiatives a success: A 2019 Everest Group survey reports that 78 percent of enterprises failed to meet the business objectives of their digital transformation.

IT Sector in India to See Strong Recovery This Fiscal | In the News

The USD 100 billion IT services sector will stage a strong recovery this fiscal, with revenue growth of 10-11%, according to ratings agency Crisil.

The majority of large IT services companies have strengthened their deal teams, given the increase in the number of deals in the market, Peter Bendor-Samuel, chief executive officer of Everest Group, IT advisory and research firm said adding that the number of large deals is growing and we expect this trend to continue for some time.

Read more in CXO Today

Truist CIO Focuses on Positioning Bank for Digital Innovation | In the News

Part of the motivation behind the merger that created Truist Financial Corp. was to enhance technology capabilities in an era where digital savvy matters more than branch footprint.

Banks today are under fierce pressure to create seamless digital experiences, such as the ability to open an account or apply for a loan online, according to Ronak Doshi, a vice president in Everest Group’s technology unit who specializes in financial services.

Read more in The Wall Street Journal

Green Shoots In Wipro under Thierry Delaporte, But Execution Is Key in Coming Quarters | In the News

Thierry Delaporte, who took over as Wipro’s CEO last year, has revamped the company’s structure and acquisition strategy to spur growth and reclaim the No. 3 spot in India’s IT hierarchy.

Chunky Satija, practice director – healthcare at Everest Group, an IT consultancy firm, told Moneycontrol last year that the leadership churn in Cognizant had impeded growth in its healthcare services, considering that as the executives who had developed deep relationships with consumers left, the impact was felt. Healthcare was one of the key verticals for Cognizant.

Read more in Money Control

Intelligent document process market ‘exploding’ | In the News

When Citizens Bank wanted to import data from the financial statements of its commercial borrowers, it turned to intelligent document processing (IDP) to automate aspects of the process, which previously relied on manual keying. Intelligent document processing leverages artificial intelligence (AI) technologies to read and process documents.

There is no shortage of providers when it comes to IDP solutions, according to Everest Group, an IT research firm. IDP typically leverages a combination of technologies, such as optical character recognition, machine learning, robotic process automation (RPA), or deep learning technologies to extract data from unstructured forms, such as invoices or contracts.

Read more in Bank Automation News

Digital Transformation: 7 Signs You’re Making Progress | In the News

What signs indicate your team is traveling down a productive path with digital transformation work? Look for these success milestones, experts say

Employee Attrition among Global IT Vendors a Significant Concern: Report | In the News

For Indian companies, the attrition varies between 7 to 17 per cent.

Due to the pandemic, talent challenges worsened as many service providers weren’t able to effectively transition remote. Many in-flight projects had to be cancelled due to travel restrictions, and Covid-19 impacted the bandwidth of resources available, said Yugal Joshi, Vice President, Everest Group, one of the authors of the report.

Read more in The Hindu Business Line

The Future of Tourism: CX Approach to Post-COVID Recovery | In the News

Undoubtedly, the travel and hospitality sector has borne the brunt of the COVID-19 pandemic, with airlines, hotels and tour operators experiencing cancellations of services. However, in the face of this unprecedented challenge, many companies have shown remarkable agility in adapting to the altered reality. In this article, I’ll walk you through some positive outcomes of the crisis and highlight the potential positives in the future of tourism.

Amid customers showing a renewed confidence to travel, companies need to transform their online CX in the same way that other key sectors such as retail and financial services have been doing. The Everest Group Global CFO Survey 2020, supported by WNS, revealed that nearly half (49 per cent) of CFOs were considering fast-tracking the adoption of digital technologies to improve CX.

Read more in CXM

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