Latest news with #Navi
Yahoo
09-06-2025
- Business
- Yahoo
XcelLabs to empower accountants to think AI-first
XcelLabs, a platform aimed at transforming the accounting sector has been launched by Jody Padar and Katie Tolin in partnership with the Pennsylvania Institute of CPAs (PICPA) and CPA Crossings. The platform provides a comprehensive training and technology solution to help accountants develop fluency in AI and strategic thinking. Central to this offering is XcelLabs Academy, which features online courses covering essential topics such as AI fundamentals, advisory skills, leadership, and practice management. Utilising Navi AI technology, XcelLabs converts unstructured data from communications into actionable insights. This innovative tool adapts to the unique emotions and needs of each user, enhancing the overall experience for accounting professionals. The platform aims to instil an AI-first mindset in teams at larger firms while leveraging Navi. This includes ongoing coaching to refine conversations and advisory actions, ultimately empowering professionals to excel in their roles. Currently in beta testing, these solutions are designed to help accountants achieve 'exceptional' performance. XcelLabs sets itself apart from traditional tech platforms by integrating high-impact strategy with practical AI tools focused on upskilling individuals rather than merely automating tasks. By pushing boundaries and leveraging AI for various business challenges, XcelLabs envisions the rise of AI-X(SM) firms that utilise AI to drive 'excellence'. This initiative underscores the importance of maintaining a human-centric approach within the evolving accounting profession. PICPA CEO Jennifer Cryder said: 'AI is transforming how CPAs work and XcelLabs is focused on helping the profession evolve with it. 'At PICPA, we're proud to support a mission that aligns so closely with ours: empowering firms to use AI not just for efficiency, but to drive growth, value and long-term relevance.' "XcelLabs to empower accountants to think AI-first" was originally created and published by The Accountant, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Business Wire
06-06-2025
- Business
- Business Wire
XcelLabs Launches To Transform Accounting
PHILADELPHIA--(BUSINESS WIRE)--The future of accounting will be built by AI-literate professionals who know how to think better, advise smarter and elevate their firms. That's the driving force behind XcelLabs, a new platform launched by Jody Padar, the Radical CPA, and Katie Tolin, a growth strategist, who are both known for reshaping accounting from their unique perspectives. The Pennsylvania Institute of CPAs (PICPA) and CPA Crossings, LLC, are partnering with Padar and Tolin to power the launch as strategic partners and investors. 'To reinvent the profession, we must start by training the professional who can then transform their firms,' said Padar, an accounting influencer and author of three books that advocate for radicalizing practice management. 'By equipping people with data and insights that help them see things differently, they can provide better advice to their clients and firm.' XcelLabs is a training and technology platform that offers solutions to help accountants use AI to build fluency and strategic thinking. This is done through: - XcelLabs Academy – A series of online courses that will provide hands-on education on topics related to the basics of AI, being a better advisor, leadership and practice management. - Navi - Proprietary and patent-pending technology that uses AI to help accountants turn unstructured data from emails, phone calls and meetings into insights, while adjusting to the unique emotions and needs of each user. - Training and Consulting – Training teams at larger firms to think AI-first and use Navi, coupled with ongoing coaching to improve conversations and advice received, as well as advisory actions to be taken. These solutions, currently in beta testing, will help professionals become exceptional at what they do and be proud of how they do it. 'Accountants know they need to be more advisory, but not everyone can figure out how to do it. Couple that with the fact that AI will be doing a lot of the lower-level work accountants do today, and we need to create that next level advisor now,' said Tolin, an award-winning growth professional and a member of the Accounting Marketing Hall of Fame. 'By showing accountants how to unlock patterns in their actions and turn client conversations into emotionally intelligent advice, we can create the accounting professional of the future.' Unlike traditional tech or training platforms, XcelLabs blends high-impact strategy with tactical AI tools designed to upskill people, not just automate processes. By pushing boundaries, lifting up people and leveraging AI for every business challenge, firms will become AI-X (SM) firms – firms that use AI to drive excellence. 'AI is transforming how CPAs work,' said Jennifer Cryder, CPA, CEO of PICPA, 'and XcelLabs is focused on helping the profession evolve with it. At PICPA, we're proud to support a mission that aligns so closely with ours: empowering firms to use AI not just for efficiency, but to drive growth, value and long-term relevance.' At its core, XcelLabs is a human-centric company built to elevate accountants, ensuring that people remain at the heart of an AI-powered profession. Improve the professional. Transform the firm. Reinvent the profession. About XcelLabs XcelLabs is the training and technology platform leading the AI-X Movement. Co-founded by Jody Padar and Katie Tolin, the company is equipping accountants for the future. XcelLabs blends education, advisory tools and proprietary AI solutions to help individuals grow, firms evolve and the profession stay relevant. Learn more at
Hindustan Times
30-05-2025
- Health
- Hindustan Times
Woman who dropped 15 kilos in 4 months shares 10 habits that helped her weight loss: ‘Protein is non-negotiable'
Navi, an Instagram user, underwent an impressive transformation and dropped 15 kilos in just four months. Since then, she has been consistently sharing glimpses of her weight loss journey, along with practical tips and hacks that supported her fat loss. On May 15, Navi posted a reel explaining how fat loss actually works and why adopting sustainable, healthy habits is key to achieving faster and long-term results. 'Don't follow random diets blindly. Understanding how fat loss actually works in the body is a gamechanger. It helps you make smarter choices about what to eat, what to avoid, and how to manage your calories even during functions, events, or vacations. Learn what foods to combine and what to keep apart,' Navi wrote in the caption. Also read | Woman who lost 30 kg without hitting gym shares 5 daily habits that worked for her: Detox water to eliminating maida The Instagram user further noted down 10 habits she followed for faster weight loss: A post shared by Navi (@navi365dayschallenge) Eating sugar first thing causes a massive glucose spike. Start your day with protein or fiber-rich foods. A cucumber salad or greens before any meal helps slow down glucose absorption. Protein slows down glucose spikes and keeps you full longer. Pair carbs (like rice or roti) with protein (eggs, dal, paneer) and fiber (salads, veggies). Also read | Fitness coach reveals 5 sustainable habits for faster weight loss, shares best sources of protein for vegetarians Stop worrying about calories and instead focus on quantity — 100g rice max with lots of sides. Ensure to finish your dinner before 7 PM to let your body repair instead of digest at night. Even those tiny sugar cubes or flavored drinks can spike insulin. Cut them out. A 10-minute walk post-lunch or dinner can help control glucose and boost metabolism. Boiled eggs, nuts, or Greek yogurt can help manage cravings. Avoid unhealthy snacks such as chips or biscuits. Breads, biscuits, and cakes spike glucose fast. Avoid them and focus on real foods. Note to readers: This article is for informational purposes only and not a substitute for professional medical advice. Always seek the advice of your doctor with any questions about a medical condition.
Mint
22-05-2025
- Business
- Mint
Top 3 stocks to buy today: Expert Ankush Bajaj's picks for 22 May
Stock market recap: After three straight sessions of losses, Indian stock market benchmarks rebounded sharply on Wednesday, 21 May. The Sensex opened at 81,327.61, and surged over 800 points, or 1%, to an intraday high of 82,021.64. The Nifty 50 began at 24,744.25, also climbing more than 1% to touch 24,946.20. Both indices later pared some gains, with the Sensex ending 410 points, or 0.51%, higher at 81,596.63, and the Nifty 50 closing up 130 points, or 0.52%, at 24,813.45. Broad-based buying lifted the broader market as well, with the BSE Midcap index rising 0.90% and the Smallcap index gaining 0.51%. In this context, here are top three stock picks from Ankush Bajaj to watch in the near term: Buy: Motilal Oswal Financial Services Ltd (MOTILALOFS) (current price: ₹800) Read this | DLF's Q1 launches to set the tone for FY26 pre-sales trajectory Buy: IDBI Bank Ltd (IDBI) (current price: ₹94.50) Read this | Centre eyes over ₹45,000 crore from divestment in FY26, bets on sale of IDBI Bank Buy: Ashok Leyland Ltd (ASHOKLEY) (current price: ₹244.60) Market closes higher after volatile session; pharma, PSE stocks lead gains The Indian stock market witnessed a volatile trading session on Wednesday, 21 May, but ultimately ended on a firm note. Positive global cues and strong domestic buying had led to a gap-up opening, with the Nifty nearing the psychological 25,000 mark early in the session. However, this level proved to be a strong resistance, triggering sharp intraday selling. Despite the pullback, markets staged a V-shaped recovery in the second half, erasing losses and closing in the green. The Nifty 50 ended 129.55 points, or 0.52%, higher at 24,801.35, while the BSE Sensex rose 410 points, or 0.51%, to settle at 81,596.63. Bank Nifty also advanced, gaining 197.75 points to close at 55,075.10, reflecting continued momentum in the financial sector. All sectors ended higher, with the rally led by pharmaceuticals, public sector enterprises, and real estate. The Nifty Pharma index climbed 1.25% amid defensive buying during intraday volatility. The PSE index added 1.21%, buoyed by renewed interest in energy names and value buying in government-owned firms. The realty index rose 1.72%, recovering from early weakness on the back of sustained interest in infrastructure themes. Among top movers, Bharat Electronics Ltd surged 5.28% on strong institutional interest and robust order inflows. Cipla gained 1.93% on optimism around export performance, while Tata Steel rose 1.86%, extending gains post a strong Q4 and positive sentiment in metals. On the downside, a few names lagged the broader rally. IndusInd Bank slipped 1.57% amid profit booking after recent gains. JSW Steel fell 1.17% on global commodity concerns, while Kotak Mahindra Bank edged 0.84% lower on institutional selling pressure. Read this | Navi's bumpy ride: Can Sachin Bansal prove his fintech bet right? Despite the volatility, the sharp recovery and broad-based participation underscored the market's resilience, with key indices holding above crucial technical levels. Nifty Technical Analysis After the recent rally, Nifty closed slightly lower at 24,776 on 20 May, forming a small red candle on the daily chart. Despite the mild decline, the index continues to display strength and remains firmly positioned above the key support zone. The broader trend remains bullish as the index is trading well above its medium-term support levels. The 20-day moving average is at 24,509 and the 40-day DEMA at 24,054 – both comfortably below the current market price, confirming the underlying positive momentum. On the daily chart, Nifty remains above key moving averages, which suggests that the medium-term trend is intact. The RSI is holding above 63 and the MACD remains in positive territory, reinforcing the bullish bias. However, on the hourly chart, Nifty has closed below both the 20-hour moving average (24,857) and the 40-hour EMA (24,809), indicating short-term weakness or likely consolidation in the coming sessions. Hourly RSI has dropped below 55 and MACD has given a negative crossover, further confirming a dip in short-term momentum. Open interest (OI) data shows that the highest call OI is at the 25,000 strike and the highest put OI is at the 24,800 strike. Additionally, there is good call-side build-up at 24,800 and 24,850 and put-side build-up at 24,800 and 24,750, suggesting a tightly packed expiry range. The Put-Call Ratio (PCR) stands at 0.76, indicating a mildly bearish to neutral sentiment among market participants. India VIX has risen to 17.54, up by 1%, signalling a possible increase in intraday volatility. The recent price action is being led by heavyweight stocks such as BEL, Cipla, Tata Steel, and HDFC Life, which have shown relative strength even as the index showed signs of cooling off. Strategy Outlook Given the tight OI range between 24,800 and 25,000, combined with short-term bearish signals on the hourly chart, expiry is expected to be range-bound. A neutral strategy like an Iron Condor is suitable in such conditions. Traders can consider selling a 24,750 put and 25,000 call while buying a 24,700 put and 25,050 call to limit risk. This strategy benefits if the market stays between 24,750 and 25,000 and volatility remains stable. A decisive break on either side of this range would require quick adjustment or exit. Also read | Navi's bumpy ride: Can Sachin Bansal prove his fintech bet right? Conclusion While the broader uptrend in Nifty remains intact as long as 24,875 holds, short-term indicators suggest caution. Increased volatility and mixed signals from momentum indicators point to a potential range-bound expiry session. Traders are advised to keep a close watch on 24,875 for downside protection and 25,000 as the resistance cap. Any breakout beyond this range could shift the short-term sentiment decisively. Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441. Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
20-05-2025
- Business
- Mint
Can Sachin Bansal get Navi to deliver?
Mumbai: In the crowded and competitive world of Indian fintech, few names stand out quite like Flipkart co-founder Sachin Bansal, once the posterboy of India's startup boom. The 2005 IIT-Delhi graduate had quit his job at Amazon Web Services (AWS) in 2007 to start Flipkart with Binny Bansal from a modest apartment in Bengaluru. Five years later, it became India's first e-commerce company to hit a billion-dollar valuation, following a $150 million funding round led by South Africa's Naspers and ICONIQ Capital. By the time Bansal exited 11 years later, Flipkart was valued at $21 billion. In May 2018, eight months after he fully exited Flipkart following Walmart's $16 billion acquisition of the e-commerce firm, Bansal launched his second venture. This time, Bansal waded into the booming world of fintech with Navi Technologies, focusing primarily on lending, and later, to a lesser extent, on insurance and investments. Navi also started Unified Payments Interface (UPI) services in August 2023, a space heavily dominated by PhonePe and Google Pay. It has racked up users swiftly, but has a long way to go. 'When we started, we saw two extremes in the fintech space," Bansal told Mint during an interview at Navi's office in Bengaluru earlier this month. 'One: traditional players who take risks on their books but outsource tech. Two: fintechs that build great tech but don't take any financial risk themselves." For Bansal, the answer lies in doing both: building proprietary technology and underwriting risk in-house, betting that this end-to-end approach will set Navi apart in a crowded market. 'In India, you can't just be a layer. You have to solve the whole problem," he said. 'And that was one of the learnings that I had at Flipkart." Bansal's ambition has been a costly affair. He owns more than 90% of the company; and has invested close to $500 million of his own funds in Navi. 'We're not burning too much cash overall at a group level. But we do need capital to grow our lending book," he said. To raise money, Navi, last valued at $500 million, is eyeing a long-delayed IPO again in the next 12-18 months. However, the volatility in the market seems to be dampening this plan. Meanwhile, behind closed doors, scepticism is brewing. Those with direct knowledge of Navi's operations say that with Bansal's massive ambition, the company has so far struggled to carve a clear edge, and its financials haven't firmed up. Aside from regulatory clampdowns, including a short ban on lending, Navi has been hit by multiple roadblocks. A string of top-level exits has also eroded its credibility. As the fintech boom cools and scrutiny tightens, Navi finds itself at a critical juncture. Given all these challenges, can Bansal script a second act as iconic as his first? Industry insiders are not convinced he can. Indeed, they believe Navi's reported $2 billion valuation ambition is far removed from reality. While some media reports have indicated that the company is looking at private funding, Bansal denied any such plan. He didn't disclose the valuation the IPO would target. Why fintech? Bansal's decision to launch Navi as a full-stack tech-led financial services platform wasn't taken overnight. As early as 2016–17, Flipkart had been eyeing financial services as its future profit engine. 'The board (including Bansal) realized lending had the deepest profit pools, and had started scaling fintech efforts seriously," said a former Flipkart executive who didn't want to be identified. However, post the Walmart acquisition, financial services, seen as non-core to Walmart's vision, took a backseat. Navi allowed Bansal to keep this fintech vision alive. When the startup launched in 2018, according to a KPMG report that year, total investment in fintech across the globe had more than doubled from $50.8 billion in 2017 to $111.8 billion, with payments and lending leading the way. In India, too, fintech saw a sharp upswing, with around $2.45 billion invested, especially after the launch of UPI and cheaper data from Reliance Jio. This was also the time when Paytm raised $356 million and PolicyBazaar closed a $200 million round. Bansal's early strategy was clear: build a lending engine first, then broaden into financial services. Navi started with short-term unsecured personal loans and diversified into longer-tenure home loans in 2020. Together, the two heads make up about 70% of the business. From underwriting and data science models to apps, websites, risk systems, and collections, everything was built in-house. This internal control allowed Navi to move faster, Bansal said. When regulations suddenly changed to mandate concurrent audits for video KYC, Navi launched the updated process within days—without disrupting the user experience. 'The differentiation lies in how the service feels to the user. It's the sum of all these seemingly small efforts—some big, some subtle—that ultimately sets us apart," he said. Bansal also made a conscious choice to avoid hiring traditional banking talent. 'The pros of having fresh talent brought into the space, and giving them the same problem set, is that they think from first principles. There's no other option for them," he added. In 2019, Navi acquired Chaitanya Rural Intermediation Development Services Pvt. Ltd (CRIDS) to establish a stronger foothold in the lending segment. This was followed by a spree of acquisitions: technology consultancy MavenHive (2019) to bolster in-house tech capabilities, Essel Mutual Fund (2020) to launch Navi AMC, and DHFL General Insurance (2020) to enter the insurance sector. With these moves, Navi stitched together a full-stack portfolio across loans, investments, and insurance. 'Our core focus continues to be on credit. But we know that in the future, we will not just stick to that," said Bansal. Navi filed for an IPO in March 2022, aiming to raise ₹3,350 crore. According to its DRHP, the company planned to invest a large chunk of capital into the growth of its lending business, while the remainder would go into the insurance business. Alongside, in its DRHP, Navi revealed its plans to secure a universal banking license through its subsidiary Chaitanya India Fin Credit—a move that would have fundamentally reshaped its trajectory. For Bansal, the banking licence was the ultimate piece of his neobanking aspiration. However, just when Navi's lending ambitions had started to soar, the regulator cracked the whip. Setbacks aplenty In May 2022, the Reserve Bank of India (RBI) rejected the banking licence application amid concerns over Bansal's legal woes—tied to Fema irregularities during his Flipkart days and matters on the family front—and compliance lapses in customer data handling at Navi Group. Navi has now paused its banking aspirations. 'We have to see whether the regulator is open to giving out new licences," said Bansal. This comes despite one of its peers, Slice, receiving approval from the RBI to merge with Guwahati-based North East Small Finance Bank Ltd, effectively winning a banking licence. Eventually Navi ended up selling CIFCPL to Ananya Birla-led Svatantra Microfin in a deal valued at ₹1,479 crore in August 2023. The IPO ambitions, too, were put on hold soon after. 'The Ukraine war started and all the tech stocks were down. So, we said we'll pick it up some other day," said Bansal. Now Bansal plans to go public in the next 12 to 18 months, and refile a DRHP by March 2026. Volatility in the markets, driven by global tariff wars and rising regional tensions, has made high pre-IPO valuations debatable. Recent fintech IPOs, such as PBFintech and MobiKwik, have seen sharp corrections from their January highs, showing concerns around valuations and IPO timings. Separately, the RBI's tight grip on the fintech sector over the past few years has weighed heavily on Navi and others in the space. The digital lending guidelines of 2022 mandated stricter disclosures and curtailed practices such as first-loss default guarantees (FLDG). The unregulated fintech industry often partnered with regulated entities to pass on customer leads and banked heavily on the FLDG arrangement to make a loan happen. In such an arrangement, the fintech compensated the regulated entity in case a borrower defaulted. In November 2023, the RBI further directed banks and NBFCs to provision more capital against unsecured loans and moderate their exposure to riskier retail segments. Hit by the crackdown, fintech lenders spent most of 2024 cleaning up their books, cutting back on risky loan portfolios, and pivoting toward co-lending and secured loan products such as home loans. Navi, which had relied heavily on unsecured loans, has also seen its secured loans segment grow. 'It's not that I was unaware that this would be a regulated space. But I definitely think that there has been a change of environment from a regulations perspective. They have become stricter than before," said Bansal. 'If you (the regulator) cut risk, you also cut upside." For Navi, that has resulted in an alteration in its loan book. Bansal confirmed to Mint that personal lending will gross up to about 85% of the lending book in FY26, down from 90%, while the home loan segment is expected to grow, without sharing details. The turbulence deepened in FY25, when the RBI barred Navi, along with three other NBFCs, from lending and disbursing loans over violations related to pricing policies and compliance norms. 'In hindsight, yes, we should have charged lower interest rates. But…you have to judge that without having clear guidelines. That's the challenge," said Bansal. The upheaval has taken a toll on Navi's financials. After turning profitable in FY21 with ₹71.2 crore in profit, the company slipped back into the red, to report a loss of ₹362.1 crore in FY22 and ₹128 crore in FY23. This was followed by a profit of ₹169 crore in FY24, driven largely by the sale of its microfinance arm CIFCPL, data from Tracxn showed. Excluding the one-time gain, Navi posted a loss of ₹216 crore for that fiscal year, the data showed. Revenue, however, has grown at an average annual rate of 45%, rising from ₹779.1 crore in FY21 to ₹2,290.7 crore in FY24. But here again, the revenue in FY24 reflects Navi's earnings after the sale of CIFCPL to Svatantra Microfin. Spate of exits Under Navi's structure—which features various financial entities under one roof—each division functions almost like a mini-startup and has its own head or chief executive officer (CEO). Four such heads or top executives have exited Navi in the past three years to start up on their own. These exits have hit Navi at critical junctures, causing it to limp when Bansal aspired to sprint. One of the earliest high-profile exits was in March 2022, when Saurabh Jain, CEO of Navi Mutual Fund, left to start Stable Money, a fixed deposit investment platform, when Navi was actively looking at an IPO. Shobhit Agarwal, who headed Navi's lending business (personal loans and housing finance), and Apurv Anand, a vice president at the company, quit just last month to launch an asset management company together, Moneycontrol reported. Riya Bhattacharya, former CEO of Navi Finserv, exited in November 2022 after nearly four years with the company to build her own fintech venture, Rio, and offer credit over UPI services. Industry experts have also questioned Bansal's approach towards culture building in the company. 'A team of almost 50 senior executives were let go abruptly back in 2020 over phone calls. In the following year, the company moved its offices (for the mutual fund subsidiary) almost within days from Mumbai to Bengaluru," an industry player aware of the developments told Mint. 'The abrupt manner in which such decisions were approached have left a bad taste in the mouth for Navi's workforce." Bansal has responded to the ground shifting under his feet. In February, he stepped aside as CEO to become executive chairman, handing over the reins to senior executives while focusing on strategy, AI, and technology. 'I have taken myself out of day-to-day operations so that I can focus on these things," he said. 'Whoever gets AI right is going to have a big advantage in this space." Deep commitment After the RBI's lending ban on Navi Finserv in October 2024, Bansal personally spearheaded a turnaround plan, earning a reversal of the ban in less than 45 days. 'After we resumed lending, it took some time to ramp up again. Our loans aren't long-term—these are two-year loans, not 15-year ones. So, when you pause lending, the book starts running down quickly," Bansal explained. According to the Navi founder, revenue growth took a hit as a result of the ban, impacting profitability. He expects the fintech to have ended FY25 close to breakeven and not profitable (the company generally files its financials with the ministry of corporate affairs by October). 'We invested a lot after that (the RBI ban) in tech-driven compliance monitoring systems, which allows us to be much more responsive, in terms of regulatory changes, or any gaps that emerge," said Bansal. 'Even though unsecured lending is out of favour, Bansal's approach of overhauling risk policies, tightening compliance, and appointing top auditors shows he is serious about earning back regulator trust," said an industry expert with direct knowledge of Navi's internal workings. Bansal's commitment certainly runs deep. To shore up funds for Navi, he has been selling personal investments, including his stakes in Ola and Ather Energy. 'Starting Flipkart wasn't about building a massive, multi-billion dollar company from day one. In fact, around 2009, our first pitch to Accel Partners projected that we could become a $100 million company in 10 years. That was our mindset back then," said Bansal. Flipkart is aiming to go public in India as soon as next year, with an IPO valuation target of $60 billion to $70 billion. 'You can't really plan these things in detail," said Bansal. 'What matters is getting into the right space, solving meaningful problems that impact millions of people, and building a business around that. The rest follows."
