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Financial Services news in India

An overview of news, trends and research in the Financial Services industry in India:

Life Insurance Corporation of India taps Kearney as partner for Jeevan Samarth Life Insurance Corporation of India has brought in consultants from Kearney to help the group transform and modernize its agency ecosystem.
19 August 2024
Spice Money taps BCG to support new financial services platform Spice Money, an Indian rural-focused financial services company, has tapped Boston Consulting Group (BCG) to help develop a new digital financial services platform aimed to benefit its Indian custome
27 October 2023
Indian fintech industry to become $190 billion sector by 2030 Boston Consulting Group forecasts that Indian fintech companies, propelled by the expanding market demand driven by financial inclusion, will likely generate aggregate revenues of up to $190 billion
23 October 2023
Reserve Bank of India selects McKinsey and Accenture for AI project The Reserve Bank of India has following a competitive bidding process selected McKinsey & Company and Accenture as its partner for an artificial intelligence project.
12 August 2023
State Bank of India launches consultancy RFP for employee surveys The State Bank of India is in the process of engaging a consulting firm to help conduct an employee engagement survey across the bank’s entire operation.
13 April 2023
Cedar and IBSi to host Digital Banking Summit in Mumbai Next month, an international event hosted by Cedar Management Consulting and IBS Intelligence will inform industry leaders on the future of banking across India.
03 March 2023
Bain & Company launches NPS Prism for Banking in Indian market Six months after bringing its NPS Prism for Banking suite to Asia, global management consulting powerhouse Bain & Company has now rolled out its banking specific offering in the Indian market.
08 November 2021
India's $550 billion shared credit market ripe for digital disruption Sharing money with friends and family is a bedrock of Indian society, although financial services providers have struggled to monetise this activity.
02 August 2021
Federal Bank enlists Infosys for Oracle CX implementation Kerala-headquartered commercial bank Federal has tapped Infosys to implement Oracle CX – a cloud-based customer relationship management tool – to boost its marketing, sales and customer experience, a
14 June 2021
Indian banks risk Rs 12 trillion Covid-19 hit, says McKinsey Although resilient in the face of Covid-19, banks in India will have to withstand trillions in credit and revenue losses for this year, and a few more to come.
05 January 2021
Forensic experts of Deloitte on trade-based money laundering Trade-based Money Laundering (TBML) is a huge challenge for financial services institutions,in part because trade financing still is highly reliant on manual monitoring and screening.
15 December 2020
A strategic agenda for Indian banks in the post-Covid world Indian banks are at risk of losing hard-won efficiency gains and should quickly rework how they operate to tackle new challenges, write Akash Lal, Alok Kshirsagar, Siddhartha Gupta and Shikha Gupta f
14 December 2020
PwC's financial services lead John Garvey on India's banking sector Rising proportions of non-performing loans (NPLs), an increasingly pervasive credit crunch and complex restructuring processes are the primary challenges currently facing India’s banking sector.
05 February 2020
EY appointed to manage merger of three major banks EY has been called in to help with the mammoth task of merging three major Indian banks – Punjab National Bank, Oriental Bank of Commerce, and United Bank of India.
22 January 2020
Technology acting as catalyst for India's InsurTech revolution The growing interaction between technology and big data is transforming India’s InsurTech sector at a rapid pace, writes Madhur Singhal, Managing Director at Praxis Global Alliance, a management cons
16 January 2020
IL&FS appoints A&M and two financial consultancies to help restructure In light of its massive debt levels amounting to nearly $12.
24 October 2018
TCS beats Accenture's BFSI revenues to become top provider for banks Indian IT services giant Tata Consultancy Services (TCS) has crossed yet another milestone in its development as one of the largest consulting firms in India, having overtaken global management consu
23 October 2018
Mavcomm Consulting to help Credit Sudhaar with branding profile Mumbai-based credit advisory firm Credit Sudhaar is looking to improve its communications profile and reputation in the Indian market, to which end it has now announced a partnership with public rela
07 September 2018
Macroeconomic and global trends affecting India's ATM industry A new report from global professional services firm PwC has revealed that the ATM industry in India has been a steadily lucrative one over the years.
23 July 2018
Mercer boosts wealth advisory business through acquisition of India Life Capital As overall wealth levels are growing in India, so to is the market for capital investments.
26 June 2018
Wipro partners with US-based firm to develop health insurance solution Indian IT consulting giant Wipro has entered into a partnership with US-based data analytics firm Opera Solutions to develop a secure and efficient technique to screen insurance claims in the US.
14 June 2018
Infosys collaborates with seven banks to create blockchain-based trade network In light of high levels of fraud and a vast repository of non-performing assets, Infosys has established a collaborative network within the Indian banking sector, which will promote greater security
18 May 2018
TCS bolsters presence in Texas and Iowa through Transamerica contract Indian consulting giant Tata Consultancy Services has won an outsourcing contract for the entire administration of US-based Transamerica’s insurance and annuities practice.
03 May 2018
India's government needs a vision for the future of banking sector The Indian government would benefit from a clear vision for the future of India’s banking sector, write David Bergeron, Amit Deshpande and Wolfram Hedrich, all three senior advisors at management con
14 February 2018
India announces intent to prevent cryptocurrency use The Government of India has announced it will move to end the use of cryptocurrencies in the country.
02 February 2018
BCG supports Karnataka Bank with business transformation In a bid to tackle market disruption and keep pace with trends in the banking and finance industry, Karnataka Bank has embarked on a transformation journey, with a focus on modernisation.
12 December 2017
Indian banking reforms not ambitious enough, says Bain India Chairman Despite the expansive economic reforms introduced by Prime Minister Modi, Bain & Company Chairman Srivatsan Rajan feels that the banking sector in India, is holding up the economy.
14 November 2017
Government backed IDBI Bank hires BCG for organisational turnaround In a bid to reverse its declining fortunes, IDBI Bank has partnered with the Boston Consulting Group (BCG) to help boost its financial performance.
11 October 2017
Creditors in India hire consultants for bankruptcy proceedings Creditors in India, including the country’s biggest lender State Bank of India (SBI) have hired top consultancy firms such as PwC, KPMG, EY, Deloitte and others at highly generous terms to assist wit
13 July 2017
Persistent floods cost India billions in uninsured losses The human and economic costs of natural disasters can be considerable.
05 January 2016
Indian insurers spend $2.1 billion on IT and technology The IT budgets of Indian insurance companies for 2016 is heading towards $2.11 billion, as they spend more on IT products and services, research by Gartner shows.
19 October 2015
Infosys launches Fintech solutions for Indian banks Infosys Finacle, part of EdgeVerve Systems, has launched a tailored suit of banking solutions for the Indian market.
01 August 2015

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