TCS bags new deal from Aviva spread over 15 years
Here is your daily dose of key developments from the technology world of India.
TCS expands partnership with Aviva with a new 15-year deal
Tata Consultancy Services (TCS), India’s leading IT services exporter, has expanded its partnership with Aviva, the UK-based insurance company, with a new deal spread over 15 years.
As part of this partnership, TCS will provide end-to-end policy administration and servicing to cover over 5.5 million policies, to be managed by Diligenta, TCS’ FCA-regulated subsidiary in the UK, on behalf of Aviva.
Over the years, Aviva and TCS have provided end-to-end services to the customers of the insurance company through digitisation and simplification. Under the new partnership, TCS will leverage its BaNCS digital platform. TCS has operated in the UK for more than 45 years and employs more than 23,000 people in the UK and Ireland.
Marut Drones helps NMDC in mineral exploration
has provided its products to National Mineral Development Corporation (NMDC) to enable ‘Drone-Based Mineral Exploration’ in India. NMDC procured two customised Octacopter drones from Marut Drones, which are expected to enhance precision in mineral exploration and mapping for sustainable mining practices.
The Mineral Exploration Drone has features such as Magnetometer, Hyperspectral, and Lidar, which enhances the capability for accurate exploration and mapping. The company said the design of the drone also ensures stability and precise manoeuvrability.
According to Marut Drones, the drone's aim is to make the magnetic survey not only five times faster but also ten times more cost-effective. It allows the drones to fly closer to the surface, enhancing data collection with higher resolution, making surveys more efficient and affordable.
Pavestone Capital is keen to back tech startups that cater to large enterprises
Australia’s RIC implements Infosys Finacle solution
Infosys Finacle, part of EdgeVerve Systems—a wholly-owned subsidiary of Australian government concessional finance provider Infosys and Regional Investment Corporation (RIC), have announced a new milestone.
RIC has now implemented the Finacle Digital Lending Solution Suite in a software-as-a-service (SaaS) mode running on AWS. This also included the adoption of the Finacle Online Banking and Finacle Alerts Solution. According to a statement, RIC will now be able to offer digital financial lending services to customers in the Australian agricultural sector at lower operating costs and higher self-service capabilities.
KPIT Technologies net profit rises by 54% in third quarter
Software services company Technologies reported a net profit of Rs 155.3 crore for the third quarter of FY24 which was a year-on-year (YoY) growth of 54.5%. The revenues during this period rose by 37% YoY to touch Rs 1,257 crore.
According to the company, the EBITDA for the quarter stood at 20.6 percent which was a 52.2 percent rise on YoY basis. KPIT Technologies reported a total contract value of $189 million at the end of third quarter.
On the performance of the company, KPIT Technologies CEO Kishor Patil said, “Basis our performance so far, robust pipeline and the consistency of demand driven by new technology investments by our strategic clients, we are confident of meeting our upward revised outlook for the year.”
Synechron unveils suite of AI solutions
, a digital consulting firm focused on financial services and technology industries, has launched nine artificial intelligence solutions called the Synechron Nexus suite.
According to the company, this suite of solutions will enable users to automate manually intensive tasks, increase project speed, drive operational efficiencies, and reduce costs across various key business tasks.
Examples of these are Synechron Amplifai, a GenAI-powered market research solution. Its automated research capability saves time in a wide range of use cases, reducing the tedium of gathering, analysing and reporting market news, trends and strategies.
The Synechron Clarifai is a tool for summarising and analysing call-centre transcripts. Conversations are flagged for non-compliance and further human review/actions.
Edited by Kanishk Singh
