Page 16 - Bfsi

Can IT look beyond BFSI? US banking crisis threatened to create a domino

But things are getting better and demand outlook remains strong

Algo rhythm: Digital spells money for India's BFSI companies, says report

The cost of acquiring customers through digital channels is 70 per cent cheaper, says the Google and McKinsey report

AI, digital solutions integration to bolster BFSI: Google McKinsey report

The integration of AI with digital solutions is set to enable India's BFSI sector to unlock access to its entire spectrum of products for over 700 million internet users in the country, according to a Google and McKinsey report. Around 87 per cent of financial services seekers commence their consumer journey online, the report said, adding that nearly two-thirds find online channels more helpful for making a purchase decision over traditional channels. Approximately 40 per cent use search and about 31 per cent use online videos to help them with their decisions. The report combines analysis of Google Search trends, revealing that online demand exceeded total purchases across all product categories by 3-5 times in 2022. Credit cards, home loans and car loans were amongst the most searched products, enjoying amongst the highest growth rates in online demand, with searches focused on factors like innovative features and prices, the report, titled 'AI revolutionizes inclusion and ...

Leasing data shows BFSI sector has bounced back from pandemic lull

The rise in leasing by BFSI companies has been attributed to the return to office and improved domestic financial sector outlook

IT firms' growth in Q1 FY24 lowest in 10 qtrs, slowdown to get worse: ICRA

Order book and deal pipeline of most companies remain strong, says ratings agency

Festive demand to see addition of 50,000 temporary jobs in BFSI: TeamLease

The second half of the ongoing calendar year is expected to see an addition of about 50,000 temporary jobs in the banking, financial services and insurance (BFSI) sectors ahead of the festive season, according to a report by staffing company TeamLease Services. The BFSI sector is already witnessing a remarkable surge in credit card sales, personal finance, retail insurance, driven by increased consumer spending and confidence in the economy, according to the report. "This increased activity is anticipated to generate about 50,000 temporary jobs in the second half of 2023, as BFSI firms are set to increase their workforce to meet the surge in finance products," it added. The TeamLease analysis is based on current market demand, industry job openings and the larger market or industry sentiment. From the BFSI sector's perspective, the demand for temporary workers during the festive season has shown a consistent rise not only in tier-I cities like Ahmedabad, Pune, Bengaluru and Kolkata

Is software-as-a-service the way ahead for the BFSI sector?

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Adoption of SaaS in the Indian BFSI Sector

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Tredence eyes acquisitions in BFS, healthcare vertical by year end

In terms of size, Tredence will be focussing on acquiring companies with revenues in the range of $10-15 million, though it would be flexible in its approach, said Bhowmick

Teleperformance aims to hire 60,000 people in India in the next 2 years

This expansion would take the total employee strength to 150,000 from about 90,000 employees in India as of today

Q1FY24 results: Revenue growth of early birds at a 10-quarter low

India Inc more dependent on BFSI, IT companies to drive growth

Some discretionary spend may return for high-tech sector: LTIMindtree chief

In a Q&A, Debashis Chatterjee, CEO & MD of the firm, talks about the reasons for its subdued growth, deals pipeline, and acquisitions strategy

TN skill development centre eyes to create 10,000 new jobs in BFSI segment

Tamil Nadu Skill Development Centre has drawn up plans to generate 10,000 jobs in the banking and financial services sector under the government's 'Naan Mudhalvan' scheme. Industry leaders engaged in the BFSI sector at a recent round table meeting extended their support to the state government's skilling initiatives to train the youth and college students. Naan Mudhalvan CEO (Tamil Nadu skilling and capability enhancement platform) M Jayaprakasan, chief mentor Sai Reddy highlighted the need for scaling up the BFSI sector at the meeting. "We want you to enter colleges, and do skill-based courses. We are more interested in course objectives, course outcomes, and skills imparted... the government is keen in making Tamil Nadu the skill capital for the region", Jayaprakasan said. Under the 'Naan Mudhalvan' initiative, he said over 10,000 students underwent various skilling courses in the banking, financial services, and insurance sector. "Over 4,000 of them got placed and the process i

BFSI, tech clients spending more on cost-optimisation deals: Wipro chairman

Macroeconomic environment remains challenging, impacting client spending: Rishad Premji

White collar hiring dips 3% on cautious recruiter sentiments: Report

White collar jobs witnessed a 3 per cent annual decline in June due to cautious recruiter sentiments in sectors including IT, BFSI, manufacturing, according to leading talent platform foundit. Sectors such as IT (- 19 per cent), BFSI (- 13 per cent), Home Appliances (- 26 per cent), and Production/ Manufacturing (- 14 per cent) have not yet bounced back to last year's hiring numbers, despite the monthly positive incline seen in a few of these industries, it said. The foundit Insights Tracker (fit), earlier known as Monster Employment Index, is a monthly analysis of online job posting activity based on a real-time review of millions of employer job opportunities. However, on a month-on-month basis, there was a 2 per cent growth, which indicated a resurgence in online hiring activity across key industries. Positive e-recruitment activity was observed in June 2023, on a month-on-month basis, with sectors such as healthcare (11 per cent), BPO (7 per cent), production and manufacturing

Professional services industry hired maximum people between January and May

It was followed by BFSI and e-commerce industries with 16% rise in their headcounts

Building trust in a changing world order

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Top headlines: 233 dead in Odisha train crash, Tata's EV battery plant deal

Business Standard brings you top news at this hour

India Inc earnings see sharp slowdown in FY23; non-BFSI profits contract

Better than expected showing by BFSI

BFSI firms drive earnings of India Inc to a record high in Q4FY23

By comparison, their combined net sales (gross interest income for BFSI companies) were up 14.3 per cent YoY to Rs 33.2 trillion in Q4FY23, from Rs 29 trillion a year ago