Intellect to deploy eMACH.ai DEP for leading South African bank

Intellect Design Arena announced a significant engagement with a leading South African bank. The bank will implement Intellect's revolutionary eMACH.ai Digital Engagement Platform (DEP) across nine countries, marking a milestone achievement in its digital transformation journey.
eMACH.ai DEP will be deployed as a single instance in South Africa, seamlessly serving the bankfs entities across 6 countries on Cloud and 3 On-Premise to satisfy local data residency requirements. This comprehensive platform will cater to both corporate and retail customers, providing a unified and enhanced customer experience.
eMACH.ai DEP powered transformation will enable the bank to provide: Seamless and personalised experience to customers across all channels, lifecycles and life stages A scalable and extensible engagement platform with the ability to adapt, or build 360 engagement Integration with digital channels, core banking systems, and third-party applications like Fintechs, Merchants, e-commerce, and entertainment partners Rapid App launches in days using the codeless platform with over 750 front-end journeys and 520 open APIs Increased digital banking customer sign-ups in minutes and faster credit origination through digital onboarding

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Time of India

an hour ago

• Time of India

BRICS summit in Rio: Bloc may push trade in local currencies, countries differ on common currency; India says discussions still at 'early stage'

Ahead of the July 6–7 BRICS summit in Rio de Janeiro, senior diplomats from leading member nations said the grouping is likely to intensify efforts toward settling trade in national currencies, even as they ruled out any imminent move toward a unified BRICS currency. At a conference co-hosted by the Embassy of Brazil and Centre for Global India Insights (CGII) on Friday, Russian Ambassador Denis Alipov described BRICS as 'a serious platform for discussing joint solutions to big challenges,' while reaffirming Moscow's support for trade in local currencies. 'BRICS is not a counter-bloc. It is a centre of gravity for countries seeking mutual respect and non-interference,' said Alipov, rejecting suggestions that the group was being shaped as an anti-West coalition, reported PTI. He noted that trade in national currencies was already underway between BRICS members. India's BRICS Sherpa and Secretary (Economic Relations) in the Ministry of External Affairs, Dammu Ravi, said discussions around a BRICS common currency are 'at a very early stage.' 'Today, for now, we are only looking at trade settlement in national currencies. Harmonisation of fiscal and monetary policies is very, very difficult to achieve,' he said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Brass Krishna Idols For Prosperity & Protection In Life Luxeartisanship Shop Now Undo Brazilian Ambassador Kenneth da Nobrega echoed the sentiment, adding that while deeper integration like a common currency requires years of policy alignment, local currency trade was already showing results. 'It's a long way. But trading in local currencies? That's already working,' Nobrega said. The summit comes amid geopolitical unease following warnings by President Donald Trump against any formal move by BRICS nations to undermine the US dollar's dominance in global trade. The Trump administration's tariffs have already drawn concern among developing economies. The summit is set to be attended by Prime Minister Narendra Modi, Chinese President Xi Jinping, South African President Cyril Ramaphosa, and leaders of newly inducted members such as Egypt, Ethiopia, Iran, UAE, and Indonesia. Ambassador Ina Krisnamurthi of Indonesia called for systemic reform, saying, 'Our international order, the rules-based system, is crashing into the limits of its founding vision.' She said BRICS must evolve from 'just dialogue to delivery,' focusing on climate finance, humanitarian relief, and data equity. 'Right now, the Global South represents 85 per cent of the world's population and 39 per cent of global GDP,' Krisnamurthi noted. 'Yet multilateral institutions do not reflect this reality.' Citing a surge in the middle class across India, China and ASEAN, she said: 'In 2000, only 150 million enjoyed middle-class living standards. Today, that number is 1.5 billion — double the total population of Western countries.' Egyptian envoy Kamel Galal said Cairo had always seen itself as a natural part of the bloc. 'We are keen that the group should focus on areas of cooperation that enjoy consensus, rather than divisive issues,' he said, stressing a development-first agenda for Africa and the Middle East. Touching on global flashpoints like Gaza, Syria, Lebanon and Sudan, Galal called for reforming global institutions to better reflect 'the evolving dynamics and rising role of developing countries.' Quoting the Egyptian Book of the Dead, he added, 'What I hate is ignorance, smallness of imagination, the eye that sees no further than its own idol. All things are possible. Who you are is limited by who you think you are.' Replacing the oft-cited 'conflict, crisis and challenge' narrative, Galal proposed a new vision for BRICS: 'collaboration, complementarity, consensus and cohesion.' The panel concluded with a Q&A session that focused on the institutional future of BRICS, prospects of a unified currency, and the bloc's ambitions under the UN Sustainable Development Goals framework. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now

The Hindu

2 hours ago

• The Hindu

Investors want to buy multiple financial products under a single umbrella, says Shriram Wealth's Vikas Satija

Chennai-based Shriram Group, which recently announced its foray into the wealth management business in partnership with South African financial services player Sanlam Group that globally manages assets worth over $80 billion, said it would serve India's growing base of affluent and high-networth investors with personalised solutions designed with the help of artificial intelligence. Shriram Wealth, the wealth management arm of the group, said it would offer a range of services including wealth management, lending solutions, protection solutions, global investment opportunities, inheritance and legacy planning. On market potential, Vikas Satija, Chief Executive Officer and Managing Director, Shriram Wealth told The Hindu that: 'India has 30 lakh households with each home having investable financial assets in excess of ₹2 crore. This opens up a huge market opportunity for wealth- management business.' Although new investor behaviours have been constantly evolving, the traditional Systematic Investment Plan (SIP) alone attracted ₹26,000 crore a month, which amounts to savings of ₹2,64,000 crore a year. 'This gives lot of depth to the capital market today and SIPs can even help absorb some of the pressure from Foreign Institutional Investor exits and overall, manage the pressure on the markets,'' Mr. Satija said. On emerging investor trends, Mr. Satija, said clients were increasingly looking forward to buying multiple products from a single company, unlike the conventional way of going to banks/NBFCs for deposits, insurance firms for various insurances, someone else for mutual funds etc. 'The emerging trend is, customers now prefer to buy all what they want, in terms of alternate investments, under a single umbrella. They want a Swiggy or Zomato for financial services,'' he observed. Paul Hanratty, CEO, Sanlam Group said, 'We see wealth management as a natural evolution as India's economy grows, and people become wealthier. Our aim is not just to manage money, but to create meaningful solutions. This isn't a short-term play; we're here to build a trusted, customer-first wealth business in India for the next 100 years.'' Shriram Wealth said primary target audience would be typically individuals in the 45 years plus, as generally wealth resided in that age group while additional thrust would be on customer relationship over number of transactions. The company would also be deploying artificial intelligence to enable personalised advisory, to make risk profiling sharper to ensure real-time portfolio recommendations. A digital mindset would make Shriram Wealth a provider that is anticipating investor needs rather than just responding. Subhasri Sriram, MD & CEO, Shriram Capital said, the new business, wealth management, was a mission of the company to unlock financial prosperity for millions of Indians.

Business Standard

2 days ago

• Business Standard

Varun Beverages slips 5%, stock tanks 30% thus far in CY25; here's why

Varun Beverages share price today Shares of Varun Beverages slipped 5 per cent to ₹448.10 on the BSE in Thursday's intra-day trade, extending its past 2-day decline, on concerns that rising competition poses a margin risk. The stock of beverages company was trading close to its 52-week low of ₹419.40 touched on March 3, 2025. Thus far in the calendar year 2025, Varun Beverages has underperformed the market by falling 30 per cent, as compared to 4 per cent rise in the BSE Sensex. At 02:23 PM; Varun Beverages was quoting 4 per cent lower at ₹450.90, as against 0.11 per cent gain in the benchmark index. A combined 12 million shares changed hands on the NSE and BSE. Varun Beverages Q1CY25 results Consolidated sales volume grew by 30.1 per cent to 312.4 million cases in Q1 CY2025 from 240.2 million cases in Q1 CY2024 driven by strong organic volume growth of 15.5 per cent in India and in-organic volume contributions from South Africa and DRC. Net realization per case increased by 1.8 per cent in India and remained flat in international markets (ex. South Africa). There is a decline of 0.9 per cent in net realization per case at the consolidated level because of lower realization in own brands in the South African market. Due to the relatively lower margin profile of owned brands in the South African market and the higher mix of carbonated soft drinks (CSD) in India, Gross margins stood at 54.6 per cent, a decline of 171 basis points as compared to Q1 CY2024. EBITDA margins marginally declined at the consolidated level by 20 bps because of the lower profitability in the South Africa market. Looking ahead, the management sees immense headroom for growth in India's beverage market, supported by rising per capita incomes, accelerating urbanisation, expanding electrification, and improving cold-chain infrastructure. Brokerages view on Varun Beverages Within its product portfolio, the snack food business, in partnership with PepsiCo across various regions, performed well. However, certain headwinds could impact its growth trajectory going forward; these include rising competition from Campa Cola's aggressive pricing strategy, the potential for increased GST on aerated beverages, and currency as well as geopolitical risks associated with expanding its international footprint, fear analysts. While organic growth trends were healthy in Q1, persistent unseasonal rains in the peak season and scrapping of the Tanzania/Ghana acquisition (7-8 per cent topline contribution) compelled a 10-12 per cent cut to EPS estimate, analysts at Emkay Global Financial Services said in the result update. While rising competitive intensity poses a margin risk, the brokerage firm maintains India margin estimates with ongoing backward integration at plants, rising low-calorie mix, and PET light-weighting. However, despite the earnings cut, analysts remain confident of Varun Beverages delivering double-digit volume growth and considerably outperforming the FMCG pack. Analysts at KRChoksey Shares & Securities revised its CY25E/CY26E adjusted EPS estimates by -4.0 per cent/-3.0 per cent respectively, led by delay in margin normalization in South Africa, hold on in Tanzania and Ghana acquisition deals, and intensifying competitive pressures in the Indian market. However, the brokerage firm remains constructive on the company's long-term prospects, underpinned by increasing penetration in newly acquired African territories, sustained growth momentum in the domestic business, and incremental capacity additions that enhance operating leverage. About Varun Beverages Varun Beverages (VBL) is a key player in the beverage industry and one of the largest franchisee of PepsiCo in the world (outside USA). The company produces and distributes a wide range of carbonated soft drinks (CSDs), as well as a large selection of non-carbonated beverages (NCBs), including packaged drinking water sold under trademarks owned by PepsiCo. As on date, VBL has been granted franchises for various PepsiCo products across 26 States and 6 Union Territories in India. India is the largest market and contributed ~72 per cent of revenues from operations (net) in fiscal 2024.