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Image Infosystems To Launch Smartphone Based Cheque Truncation Solution

image Infosystems

image-infosystems-ctsNew Delhi based technology firm Image Infosystems has developed a mobile application that banking institutes would love to use. The company has developed a smartphone based cheque truncation solution that the banks and cheque clearing houses can use to reduce the time to clear a cheque.

 

The mobile app will be launched very soon.

The mobile app, called ICE or Image Capture and Express Clear, would do the job what the scanner at the banks or clearing houses do. With this mobile app, the official at the banks can use the camera of the smartphone to take the image of the cheque which will then transmitted electronically to the clearing house or to the drawee bank.

“The pain with a cheque is the time it takes to get cleared,” says Archana Kumar, MD of Image Infosystems. “And we have developed solutions that can reduce the whole cheque clearing process to few hours as compared to few days, even now,” he adds.

The mobile app developed by Image Infosystems can be used on android as well as iOS based smart devices.

The company is in final stages of talks with multiple banks for the deployment of the mobile app in their CTS solution. However, the company declined to name the prospective customers.

The Reserve Bank of India, in 2010, introduced cheque truncation system, a process where the physical movement of cheques can be eliminated. Instead, an image based cheque clearing process was introduced wherein the digital image of the cheques are sent to the clearing houses, and from there it goes to the drawee bank.

The mobile app can capture the image of the cheque, read the magnetic ink character recognition (MICR) data and transmits to the desired bank.

The mobile app based checque truncation solution is in addition to the company’s existing CTS solution that majority of the banks already use. In fact, Image Infosystems is among the leading software firms whose CTS solutions are being used by most of the banks and clearing houses.

With Payments Banks Licenses being given to many operators, the company believes, the mobile based CTS would be more handy for these nnew age banking firms.
“Smartphone being ubiquitous, I don’t see any reason why would you use a different device for something that can be done by a smartphone,” explains Satish Kumar, Director – Finance and Marketing at Image Infosystems.

Both Satish and Archana founded Image Infosystems in 2002 and the company’s solutions are currently being used at more than 50,000 bank branches all over the country.

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Yes Bank And Lastmile.mobi Offer IRIS, EMV-ready Payment Solution

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Their solution integrates Retail Application, Card & UPI Payments using Aadhaar E-KYC
yes-bank-upi

Yes Bank in partnership with Lastmile.mobi has announced IRIS EMV PoS (Point-of-Sale terminal) solution. It integrates Card & UPI payments, Aadhaar E-KYC and Aadhaar E-signing on a ready to use basis. The launch has come at a time when RBI had recently issued a circular advising the banks to use Aadhaar-based Biometric authentication for Card Present transactions.

This integrated solution aims to simplify payment for millions of small and medium businesses; they can not only do their billing but also accept payments and be equipped to disburse small loans completely electronic at any time to the participating merchants at any given point of time.

The integrated solution uses Qualcomm Snapdragon processors for their advanced connectivity capabilities. By using the processing and security features integrated in Snapdragon processors, the device is designed to be able to provision the entire POS over the air, meeting the stringent PCI PIN regulations.

Speaking on the launch, Ritesh Pai, Senior President & Country Head, Digital Banking, YES BANK, said, “We are pleased to partner with Lastmile.mobi and use Qualcomm Snapdragon processors to launch this solution which brings banking to a customer’s doorstep and also empowers MSMEs to perform an entire gamut of financial transactions. This device equipped with biometric authentication capabilities has multiple uses for both retail and corporate customers right from e-KYC verification and ATM functionalities to disbursal of small loans to merchants.”

The IRIS EMV POS is in line with the Digital India initiatives as well the current RBI Circular guidelines. It allows biometric authentication through IRIS scanning and has multiple functionalities serving the purpose of a Point-of-Sale (PoS) terminal as well as an ATM such as Cash Deposits and Withdrawals via Business Correspondents; Purchase Transactions through Cards; Transfer of Funds; Enquiry of Balance; E-KYC Verification for Account Opening; E-Sign of Account Opening forms and more.

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MobiKwik Brings UPI On Its Platform

mobikwik

mobikwik

Mobile wallet firm MobiKwik Wednesday said it has launched unified payments interface or UPI on its platform. MobiKwik users can now load their wallet with e-cash using UPI. The company already has options of netbanking, credit & debit card and the exclusive cash pick up & cash deposit service for wallet loading.

“MobiKwik users now have an additional option for real time wallet loading with UPI. Users can use their MobiKwik e-cash at over 100000 online and offline merchants across India,” said Mrinal Sinha, Chief Operating Officer at MobiKwik.

Unified Payments Interface (UPI) is an additional layer of payment architecture built upon the IMPS (Immediate Payment Service) mobile payments system which allows customers to transfer money across different banks with the use of a single identification and password.

MobiKwik is also the only wallet in India that has a cash pick up facility, with which users can get their MobiKwik wallet loaded with e-cash from their location within 25 minutes in major Indian cities. They just need to request for cash pick up on the app, and a company representative will reach their location to help them with instantaneous cash loading. The company also has cash deposit facility available at over 100000 locations in 10000 cities.

With MobiKwik, users can shop seamlessly across 100000 merchants including Myntra, Shopclues, Big Bazaar, Big Basket and Grofers, or book their next vacation using bus booking on MobiKwik, on MakemyTrip or OYO rooms.

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Aurionpro Makes It To IDC Top 100 FinTech Rankings

aurionpro-idc-rankings

aurionpro-idc-rankingsEnterprise solution provider Aurionpro today said it has made it to the 2016 IDC Financial Insights FinTech Rankings and positioned at #79. The annual IDC Financial Insights FinTech Rankings is a vendor ranking within the financial services industry, and are based on the 2015 calendar year revenues attributed to financial institutions.

“We are honored on being recognized by the FinTech 100 for the 4th consecutive year. Our continual recognition stands testimony to our commitment of achieving excellence by simplifying and sharpening our focus on value creation through IP and innovation for the financial services industry.” He further added, “As financial services corporations go more digital, we will continue to accelerate digital innovation, securely and efficiently for our clients,” Aurionpro CEO Samir Shah, CEO said.

Now in its 13th year, the IDC Financial Insights FinTech Rankings categorize and evaluate the top global providers of financial technology based on calendar year revenues from financial institutions for hardware, software and/or services.  These providers supply the technological backbone of the financial services industry, an industry in which IDC Financial Insights forecasts worldwide spending on IT across the globe to reach half a trillion dollars by 2018.

The annual IDC Financial Insights FinTech Rankings has become an important measure of the health and direction of technology in the industry and the emergence of innovative solutions from new players. In addition, the IDC Financial Insights FinTech Rankings serve as a critical tool for financial services institutions to use during strategic planning and to review whenever they consider new investments in 3rd party solutions.

Aurionpro’s strategy to simplify and sharpen focus on its core businesses of Digital Innovation, Enterprise Security and Banking Solutions has enabled the Company to play a role of being a strategic partner for its clients. Aurionpro helps clients address challenges in the digital era and delivers IP driven solutions to help them unlock, amplify hidden value in their businesses.

“Being positioned on the IDC Financial Insights FinTech Rankings demonstrates a fintech company’s commitment to the financial services industry and the success achieved at their financial institution clients,” states Karen Massey, senior analyst at IDC Financial Insights. “The IDC Financial Insights FinTech Rankings, now in its 13th year, is the global industry standard who’s who of financial services technology providers, and we congratulate the 2016 winners.”

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WhatsApp To Run Ads Now But With Your Permission!

WhatsApp

WhatsApp-logoIn a significant development, WhatsApp today announced it will integrate with other ‘businesses’ to offer customised solutions to its billion plus users. What it means is the world’s largest messaging app will now run ‘ads’ on its platform.

“We want to explore ways for you to communicate with *businesses* that matter to you too,” WhatsApp wrote in its official blog.

“In the future, we will explore ways for you and businesses to communicate with each other using WhatsApp, such as through order, transaction, and appointment information, delivery and shipping notifications, product and service updates, and marketing. For example, you may receive flight status information for upcoming travel, a receipt for something you purchased, or a notification when a delivery will be made. Messages you may receive containing marketing could include an offer for something that might interest you,” the app’s new policy guidelines read.

The ‘ads’ could be in the form of some information from the users’ bank, other merchants or airlines. “

“Whether it’s hearing from your bank about a potentially fraudulent transaction, or getting notified by an airline about a delayed flight, many of us get this information elsewhere, including in text messages and phone calls. We want to test these features in the next several months, but need to update our terms and privacy policy to do so,” WhatsApp clarified in the blog.

However, it also categorically said that there will be no third party ads on its platform.

“We still do not allow third-party banner ads on WhatsApp,” it added.

The messaging app that got acquired by Facebook said the firm is modifying its ‘terms and conditions’ and ‘private policies’ to integrate the said businesses and offer the solutions to its customers.

“Today, we’re updating WhatsApp’s terms and privacy policy for the first time in four years, as part of our plans to test ways for people to communicate with businesses in the months ahead,” it said.

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Oxigen Wallet Offers Mobile Payment At HPCL Filling Stations

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oxigen_wallet_logoMobile payment service provider Oxigen Wallet has entered into an association with HPCL wherein customers can make payments for their petroleum consumption through mobile phones. While until now cash and cards had been the major accepted mode of payments at these petroleum pumps, the association is set to allow users to pay for fuel refills using Oxigen Wallet app.

At present payments through Oxigen Wallet can be made at 61 HPCL outlets spanned across India, including New Delhi, Noida & Greater Noida, Gurgaon, Mumbai, Kolkata, Bangalore and Chennai. The company is planning to extend this service to more than 2000 such filling stations in next two months.

“We at Oxigen Services work passionately towards the digital revolution and it is our endeavor to provide premium services for digital payments to our users. We are excited to be partnering with HPCL and introducing mobile payments for getting the fuel. Making the payments secure and convenient, we are affirmative that our users would actively avail the service, paying for the fuel directly from their favorite Oxigen Wallet mobile app,” said Ankur Saxena, Director and Chief Mentor, Oxigen Wallet.

The company claims the payment system through the Oxigen Wallet is simple. Users intending to pay using the app would have to share their mobile number with the HPCL petrol pump assistant. The assistant would then feed the number in the POS machine, triggering and OTP on the registered number for the confirmation of the transaction. User would then have to share the OTP with the assistant again and upon feeding the same in the POS machine, the amount payable for the fuel will get deducted directly from Oxigen Wallet.

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MediaTek And WHP To Diagnose Heart Diseases Across Uttar Pradesh

MediaTek

MediaTek-And-WHP-To-Diagnose-Heart-Diseases-Across-Uttar-PradeshMediaTek India along with World Health Partners (WHP) will diagnose heart diseases across Uttar Pradesh (UP).

The new cardiovascular healthcare program would extend across five districts of Barabanki, Basti, Bahraich, Gonda and Balrampur, offering meaningful cardiogram solutions, which will significantly help in the early diagnosis of heart-related diseases as well as facilitate in rapid response to providing basic treatment via telemedicine services.

The cloud-based auto solution is developed by MediaTek to help narrow doctor resource gap and reduce patient’s cost. The campaign is organized by WHP and funded by MediaTek.

According to current estimates, India will soon have the highest number of cases of cardiovascular disease in the world and is estimated to account for 35.9 percent of deaths by the year 2030. In comparison, India faces low doctor-to-patient ratio, especially in the rural areas making it difficult to access medicinal advice.

This campaign makes use of a cloud-based auto solution, developed by MediaTek, which shall work as a screening tool to help remotely select probable patients, who can then seek further professional advice and consultation via WHP’s telemedicine services. With the help of this tool, the requirement of doctor’s resource will become more specific to only those people who are identified as suffering with a heart malady. Further, distance barriers will be eliminated thereby improving access to medical services that are not consistently available in distant rural communities.

Before this campaign, a field trial camp was conducted between December 2014 and August 2015, to test the auto solution and smoothen out the working model with WHP. Leveraging on WHP’s wide presence, around 2,000 cardiograms were delivered to be used at 800 centers in Bihar and 117 centers in Uttar Pradesh.

Adding another key element to the program to promote preventive cardiovascular healthcare among the rural areas, the campaign targets the need for building awareness about existing cardiovascular ailments and its symptoms. Volunteers from the WHP will organize a total of 40 awareness camps across the five districts.

The mode will include integrating health-related communication material while showcasing a popular feature film to attract audience. By the end of the campaign, the teams hope to reach a total population size of 1.3 million rural inhabitants. Further, locally trained network operators, will be guided with category A doctors in nearby tier-1 cities, to whom patients can further consult directly.

“MediaTek feels socially responsible to make an effort to support the rural populace in India. We identified a need to fill the existing resource gap in healthcare domain and chose to partner with WHP to enhance cardiovascular healthcare monitoring and treatment support in Uttar Pradesh state,” said Grant Kuo, MD, MediaTek India.

“This campaign is our small contribution towards expanding horizons and creating new opportunities with technology,” added Kuo.

Prachi Shukla, country director, WHP said, “Since Electrocardiogram (ECG) machines are safe and non-invasive with no known risks, we intend to organize ECG camps for a period of 240 days and collect a total of 1,200 ECGs. This collaboration with MediaTek India, we believe, will ensure consistent efforts to improve healthcare conditions in rural regions and will see an increase in the quality of life.”

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PLDT Invests $5 Mn In Matrixx Software

PLDT

PLDT-Invests-$5-Mn-In-Matrixx-SoftwarePhilippine Long Distance Telephone Company (PLDT) has invested $5 million in Matrixx Software, a real time digital commerce company.

Matrixx Software today announced that SMART Communications, a wholly-owned subsidiary of PLDT has selected Matrixx Software’s real-time Digital Commerce platform for its mobile business.

SMART Communications, the country’s largest mobile network is deploying the Matrixx platform to deliver an array of lifestyle services and content that can be individually purchased and customized. SMART’s customers will have the freedom to manage their mobile account usage and spend, tailor services and choose ‘sachet-size’ packages based on their preferences and budgets.

Matrixx provides a real-time digital commerce platform for creating and monetizing content and services. SMART Communications chose Matrixx because they needed a real-time, customer-centric platform that could jump-start entry into the digital market without a lengthy IT project. Matrixx installed and integrated the solution within weeks, allowing rapid time-to-market for future service propositions that will capture wallet-share and customer loyalty in a dynamic, fast-paced market.

Winston Damarillo, chief strategy advisor, PLDT and co-managing director, PLDT Capital said, “Evolution of the telco into a digital service provider requires viewing the customer through a different lens, in order to identify new ways of serving them. We’re transforming the customer experience, and we chose Matrixx Software because its technology and performance is unmatched, and they are able to help drive the PLDT Group’s digital vision more rapidly than anyone else.”

Dave Labuda, founder, CEO and CTO, Matrixx Software said, “The PLDT Group continues our model of prestigious companies that are investors as well as customers. They are genuinely changing the game in Asia when it comes to digital service innovation, and we’re excited to help deliver outstanding experiences to customers of its wireless service provider, SMART Communications.”

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BSNL To Track Waste Transportation For Swachh Bharat Mission

BSNL – MoUD
BSNL-To-Track-Waste-Transportation-For-Swachh-Bharat-Mission
(L-R): Saurabh Jain, deputy secretary, MoUD; Rajesh Kumar, senior GM (New Business), BSNL; Praveen Prakash, joint secretary, MoUD; Anupam Shrivastava, CMD, BSNL; and Sujata Tapan Ray, director, BSNL Board

BSNL has tied up with the ministry of urban development (MoUD) to track and monitor waste transportation for Swachh Bharat Mission in 4,041 Urban Local Bodies (ULBs) in the country.

BSNL has agreed to develop an Information and Communications Technology (ICT) Platform – eSBM – for enabling effective reporting, monitoring and control of individual municipalities and on-ground workers through an innovative Web application. A Memorandum of Understanding to the effect has been signed today between the ministry of urban development and BSNL.

The ICT platform, which is likely to go live by June 2016, will allow the cities to monitor fleet status through a GPS-based vehicle tracking system, provide MIS reports for waste collection and transportation and notify ULBs about vehicle breakdown and maintenance etc thereby ensuring a higher level of transparency in civic administration. BSNL has also offered to supplement the solid waste management handling process more effectively by providing additional features in the platform, if required by respective ULBs.

Speaking on the occasion, Praveen Prakash, joint secretary, Ministry of Urban Development and mission director – Swachh Bharat Mission said, “The application and platform developed will help the center and individual ULBs to ensure effective implementation of waste management and waste collection. The MoU signed is yet another initiative by the MoUD, using technology to improve and smoothen ground-level mechanisms and operations. The ministry will strive to ensure that all the 4,041 ULBs enter into agreement with BSNL for this work.”

The e-SBM ICT platform will be ready for launch by May 2016, and the implementation of the solution and hardware devices in vehicles will be done within the next two months, depending upon the number of vehicles in a particular ULB. The first phase of the rollout will be done in 75 major cities in India.

Commenting on the announcement, Anupam Srivastava, CMD, BSNL said, “We are very happy to be associated with MoUD to provide such an important service to the nation. The platform would further enable individual municipalities to manage and monitor their workforce and the fleet assigned to collect waste, hence using technology to solve on-ground issues. We hope that the application of the solution would result in efficient on-ground staff handling, and prove to be a big step towards the Swachh Bharat dream.”

Solid Waste Management has been one of the most crucial aspects of Swachh Bharat Mission, with a budget outlay of Rs 37,000 crore. This includes leveraging modern technologies for Solid Waste Management, capacity augmentation of urban local bodies, involving private sector, and bring behavioral and social change to encourage residents to reduce/recycle their own waste. The mission targets the achievement by 2018-19 of scientific Solid Waste Management in 4,041 cities and towns, impacting 30.6 crore people.

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Govt To Bring 585 Agri Mandis Under E-Platform; To Spend Rs 175 Cr

Agri Mandis

Govt-To-Bring-585-Agri-Mandis-Under-E-Platform;-To-Spend-Rs-175-CrThe government is planning to transform 585 agri mandis under national e-platform by March 2018 providing farmers access to all mandis for their produce.

The center has kept Rs 175 crore to bring agri mandis under e-platform. The central government has already approved financial assistance of about Rs 30 lakh per mandi for software in Gujarat, Maharashtra, Telangana, Jharkhand and Chhattisgarh.

The national e-platform developed will cover 250 agri mandis by September 2016. In order to ensure free flow of agricultural produce from one market area to another, save producers from multiple levies of mandi charges and to ensure agro-commodities for consumer at reasonable prices, the government has drawn a time bound programme for developing National Agriculture Market .

Briefing about the initiative to the Members of the Parliamentary Consultative Committee, Radha Mohan Singh, union agriculture & farmers welfare minister said, “The government is actively working to usher in reforms of the agri marketing system in the interests of farmers and consumers both.”

The center has urged the state governments to introduce e-market platform within the state to unify mandis of the state so that farmers are free to sell in any mandi of their choice. Department of Agriculture will provide free software and help in its customization for the states.

Singh said that the central government has embarked on the idea of creating a unified market through an online platform at national level ultimately. National Agriculture Market (NAM) would offer a common market places by providing real time prices on a national level to the participants of the agri produce eco-systems.

The platform would create an efficient trading system for agri produce, which would enable transaction between buyers and sellers from their existing location, thus expending the existing market and also facilitating transactions in places where marks physically do not exist, over a period of time.

“A new distribution channel for procurement and sale will come into existence, which would result in better price discovery for agri produce, largely benefiting the frames. The prices reflected would be determined by demand and supply prevailing from time to time and shall be captured on real time basis,” added Singh.

The members of the parliament who attended the meeting were Chintaman Navsha Wanaga, Manshankar Ninama, Rodmal Nagar, Sanjay Shamrao Dhotre, Shobha Karandlaje, Tapas Mandal, K Rahman Khan and KR Arjunan.

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