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CLOUD-BASED TECHNOLOGY TRANSFORMING BUSINESSES

Several fintech businesses have outmanoeuvred their rivals by embracing the SaaS model.

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The groundbreaking SaaS (Software-as-a-Service) idea has the potential to disrupt many industries, including banking. SaaS, being a cloud-based technology, may assist both fintech startups and banks, particularly in satisfying regulatory requirements and providing security to their consumers. Without a doubt, SaaS is gaining popularity among financial services organizations due to its promises of more business flexibility, faster deployment, and support for an open ecosystem.

Symbiotic relationship between SaaS platforms and Fintech growth

The Fintech approach, which makes use of the resourceful SaaS foundation, allows businesses to access and utilise cloud-based applications rather than purchasing or building their own software. Financial firms may reap advantages such as end-to-end cost reductions, data security, scalability, and agility from the fintech industry. PwC, a well-known rating agency, predicts that more fintech businesses will utilise SaaS to address concerns generated by the post-Covid environment.

Understanding the significance of the SaaS model is not rocket science. According to Financesonline.com, the SaaS market capitalization will reach $623 billion by 2023. The use of the SaaS model in the fintech industry may foster innovation and creativity while also improving efficiency and profitability. Fintech companies can also save huge amounts of operational capital every year because of SaaS. This is not possible with the traditional model, in which companies hire experts.

SaaS solutions are extremely scalable, allowing a financial institution to digitally alter its operations while boosting security and enhancing compliance. It is also feasible to minimise physical footprints and increase efficiency via automation. By embracing the SaaS model for online transactions, several fintech businesses have outmanoeuvred their rivals and the banking and finance industry at large. FinTech lenders, for example, might accept business loan applications online, process them in minutes, and send the money to qualified customers a day or two later.

What makes SaaS a magic sauce for Fintech growth

SaaS platforms have shown the power of open platforms in the open-platform vs. patented technology argument over the last several decades. This has given SaaS a long-term viability and scalability that was previously unheard of, particularly in the financial services sector. For a fraction of the price, fintech companies have started bringing in the bulk of the capabilities that sophisticated legacy systems had inside mega banks.

There was a chance to develop an ecosystem with the use of open application programming interfaces (APIs) to allow banks to interact with these fintech partners, who could bring in novel processes and products at a relatively low cost and with relatively low usage of resources. It is also critical to incorporate outside innovation into an internal environment dominated by legacy technologies in financial organizations. The necessity to start small, to be nimble, and to expand with the market’s and customers’ ever-changing needs is obvious.

The maturation of SaaS models has aided the rise of APIs in the financial services sector, while laws such as the Payment Services Directive (PSD2) are driving banks to establish and promote open platforms. While API-based SaaS platforms have opened up a wide market and empowered the developer community, they have also contributed to the abolition of faceless goods that dominated conventional industries. It has also aided in the extraction of enormous value from data and innovative system integrations, which is now shared across a bigger and more powerful ecosystem.

The triple-edged efficiency of SaaS

Scalability, sustainability, and convenience are the three pillars furnished by SaaS to the Fintech ecosystem. The compulsions in the financial sector are being addressed by the three pillars of a SaaS delivery model. Scalability and the need to quickly add new products to existing systems, as well as a high level of data and platform security and the ability to better control costs, are all reasons why SaaS models are the delivery method of choice for banks around the world, both big and small. It is also the best strategy for working with banks, development communities, incubator programs, and data suppliers in the ever-expanding fintech ecosystem. All of this is wrapped up in a customer experience layer that is easy to use and lets business users, with only a little technical knowledge, launch products in a way that is good for business.

Concluding Thoughts

This transformation of SaaS-based delivery models into revenue-generating and customer-driven ones is beneficial to all parties involved. Some issues persist, but the overall contribution of proprietary and open businesses built on the SaaS cloud to the financial services sector has been spectacular. If the total cost of ownership data for the manufacturing sector is any indication, the collaborative delivery models that have recently been brought to the market will almost certainly have an almost immediate effect on banks’ total expenses.

Rahul Meena is the founder and CEO of Treflo.

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Celebrating India’s achievements at 75

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Statue of Unity

As India celebrates 75 years of Independence, India has channeled her civilizational strengths and cultural diversity into a brand new shared future, and opportunities for achievement, progress, and prosperity for its billion-plus citizens. Here is a list of what we have achieved since 15 August 1947.

Indian Premier League (IPL)

Indian Premier League (IPL) is an Indian professional T20 cricket league established in 2008. Lalit Modi proposed the idea of IPL and superheaded the IPL effort. It was founded by the Board of Control of Cricket in India in 2007. It is usually held between March and May of every year. In a high-profile ceremony in New Delhi, the first season was slated in 2008. The first season of IPL was won by Rajasthan Royals, captained by Shane Warne. To date, there have been fifteen seasons of the IPL tournament. Moreover, there are 10 teams they are; Chennai Super Kings, Delhi Capitals, Gujarat Titans, Kolkata Knight Riders, Lucknow Super Giants, Mumbai Indians, Punjab Kings, Rajasthan Royals, Royal Challengers Bangalore, and Sunrisers Hyderabad. The teams representing different Indian cities compete against each other. IPL is the most-attended cricket league in the world which revolutionized the game.

Success of Unified Payments Interface (UPI)

India’s Unified Payments Interface (UPI) has become the best-performing real-time ecosystem in the world with nearly 6 billion transactions a month. According to the Ministry of Electronics and Information Technology, India’s digital economy could create $1 trillion in economic value in 2025. Earlier on 11 April 2016, NPCI conducted a pilot launch with 21 member banks by Dr. Raghuram G Rajan, Governor, RBI at Mumbai. On 25 August 2016 onwards Banks started to upload their UPI-enabled Apps on the Google Play store. These are the top seven UPI apps used in India; Google Pay, PhonePe, Paytm, BHIM App, Amazon Pay, BHIMSBI Pay, and MobiKwik. Meanwhile, from 21 banks in April 2016, the total number of banks linked to the UPI platform as of Feb 2022 is 304.

Vaccination Drive of India

The ongoing COVID-19 vaccine drive in India rolled out the world’s largest COVID-19 vaccination drive. The COVID-19 vaccination drive in India was started on 16 January 2021 across 3006 vaccine centers in all its states and union territories. The vaccination drive in India has been initiated with two types of vaccines: Covishield and Covaxin, being manufactured by Serum Institute of India Ltd. and Bharat Biotech International Ltd. On the first day itself, 1,65,714 people were vaccinated and were administered to a sanitation worker at All India Institute of Medical Sciences, New Delhi. As of now, 2,08,25,13,831 vaccines have been administrated to the people. Earlier, on 30 January 2020, India reported its first case of COVID-19 in Kerala.

Mars Orbiter Mission (MOM)

The Mars Orbiter Mission (MOM), also called Mangalyaan was launched on 5 November 2013 by the Indian Space Research Organisation (ISRO). It is a space probe orbiting Mars since 24 September 2014. The Mangalyaan was launched from the First Launch Pad at Satish Dhawan Space Centre (Sriharikota Range SHAR), Andhra Pradesh. For the launch Polar Satellite Launch Vehicle (PSLV) rocket C25 was used. Mangalyaan was the world’s cheapest mission to the red planet which cost just Rs 447.39 crore. “Unlike the Mars mission, which was a one-time project when cleared, the GSAT program envisages launching several more satellites. Therefore, the money saved from its launch is with Isro to be used for future satellites,” a senior official said. The spacecraft instruments which were used are Mars Color Camera, Lyman Alpha Photometer, Thermal Imaging Spectrometer, Mars Exospheric Neutral Composition Analyzer, and Methane Sensors for Mars.

Statue of Unity

The Statue of Unity is the World’s Tallest Monument and is the most prolific creator in recent times. The Statue of Unity is dedicated to one of India’s founding fathers, and the country’s first Deputy Prime Minister, Sardar Vallabhbhai Patel with a height of 182 meters. It has been created as a tribute to the ‘Iron Man of India’. The Statue of Unity is divided into 5 zones out of which 3 are accessible to the general public. It can accommodate 200 visitors at a time and location at a height of 153 meters. It is located at Sardar Sarovar Dam, in Kevadia, Gujarat.

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The battle of freedom

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S C bose

In the path of achieving freedom, there have been several instances that let us hold our heads high. Every day had been a battle to expel the anarchist Britishers. Here is a list of the days that helped make August 15, 1947, happen.

Swadeshi Movement

The British Viceroy, Lord Curzon, with the aim of weakening the unity and curbing the Nationalist movement, devised a scheme to separate Bengal and reorganise the territorial distributions dividing the Hindus and Muslims in 1905. The “Boycott” resolution was adopted at a conference held at the Calcutta Town Hall on August 7, 1905, thus establishing the Swadeshi movement and bringing its previously fragmented leadership under one leadership. A hartal and a day of sorrow were called in Calcutta on October 16, 1905, the day the division came into effect. People observed a fast, and the kitchen hearth was left unlit. Hindus and Muslims tie Rakhis to each other to symbolise unity. It was successful and the partition had to be annulled.

Azad Hind Bharat

On December 30, 1943, Netaji Subhash Chandra Bose hoisted the Indian flag at the Gymkhana ground in Port Blair and declared the island to be independent when the entire nation was clutched under British rule. He further renamed the Andaman and Nicobar Islands as Shaheed and Swaraj to mark the establishment of the Azad Hind Government, which also had its own currency and stamps. Upon raising the Azad Hind flag, Bose, the leader of the Azad Hind Provisional Government, also kept his word that the Indian National Army would be standing on Indian land by the end of 1943.

Champaran Satyagrah

The peasants in the Champaran district of Bihar were made to endure unimaginable hardships when Europeans compelled them to plant indigo, a blue dye. They weren’t paid enough for the indigo, and they couldn’t cultivate the food they needed. Tired of the agony, the peasants turned to Gandhi. As Gandhi’s first Satyagraha movement in India, the Champaran Satyagraha of 1917 is regarded as a pivotal uprising in the history of the Indian Independence Movement.

Civil Disobedience movement

Civil disobedience, also known as passive resistance, is the act of refusing to comply with the requests or orders of a government or occupying power without using force or other aggressive forms of resistance. Its typical goal is to pressure the government or occupying power into making concessions. On April 6, 1930, M.K. Gandhi started the Civil Disobedience Movement by breaking the government’s salt law by picking up a handful of salt after finishing the illustrious “Dandi March” from Sabarmati Ashram to Dandi. He served as the movement’s inspiration and helped to mobilise the population in the liberation battle. Due to the disregard for the salt law, the Civil Disobedience Movement expanded across the nation.

Quit India Movement

August Kranti or the August Movement are other names for the Quit India movement. Mahatma Gandhi began the “do or die” Bharat Chhodo Andolan, often known as the Quit India movement, on August 8, 1942. All of the Congress Working Committee members began to be arrested on August 9 as soon as the movement began. While being placed under house imprisonment, Mahatma Gandhi was brought to Ahmednagar Fort. Approximately 940 persons lost their lives as a result of the British’s harshness during this nonviolent campaign. There were also 1630 injuries. More than 60 000 activists were detained at the same time. However, this movement brought the nation together.

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‘We Women Want’: Fitness on agenda

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Clinical nutritionist Dr Ishi Khosla, Fitness Expert Vesna Jacob and Dr Rita Punhani IVF Specialist of Indira IVF appeared on ‘We Women Want’ to discuss fitness tips and bust some diet myths.

The panel stressed that it is important to monitor what you eat but also the timing of the meal. Diet such as intermittent fasting and Ketos were discussed with their pros and cons. An important point was also made regarding fitness that its best to exercise when you can even if its for ten minutes and not wait for the half hour – forty minute slot for a warm up. For as Vesna Jacob said our body is primed to be active, the primitive man did not see a tiger and then say wait let me first warm up before I defend myself. Dr Punhani pointed out how a good diet is essential for a woman’s health in various stages of her life from maturity to motherhood to menopause while Dr Khosla talked of the importance of gut health. The show was moderated by Priya Sahgal, Senior Executive Editor ITV Network.

Catch fresh episodes of ‘We Women Want’ every Saturday at 7:30 PM on NewsX. The program will also streamed live on major OTT platforms- Dailyhunt, Zee5, MX Player, ShemarooMe, Watcho, Mzaalo, Jio TV, Tata Play and PayTm livestreams.

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A BLAST FROM THE PAST

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When we reach our late twenties and early thirties and realise how much we miss good television, we tend to go down the nostalgic path. Growing up, with summer vacations lasting a full month and shorter school days, picking a show to watch was perhaps the most challenging assignment. Our TV schedules were quite set, and included everything from Disney cartoons to Indian comedy. This edition includes a chart of five programmes we watched over and over again as children and would gladly reserve time in our work calendars to watch.

TOM AND JERRY

Everyone has heard of “Tom and Jerry”, the only well-known programme where a mouse routinely outwits and humiliates a cat ten times its size. Tom and Jerry had the most straightforward stories, but you never lost interest in them because they were so humorous and snarky. You were eager to learn what new scheme Tom had in mind and how Jerry was going to thwart it. Even though the show ran under a different name and with different studios in each decade, Tom and Jerry continued to air in the 1970s, 1980s, 1990s, and even the 2000s.

TAKESHI’S CASTLE

For a generation raised during the Pogo and Nickelodeon periods, watching “Takeshi’s Castle” meant seeing people fall into mud puddles. This programme will return in more than 240 markets in 2023 thanks to Amazon Prime. Takeshi’s Castle, an Indian adaptation of a Japanese programme, became well-known for its entertaining chores and Jaaved Jaffrey’s hilarious commentary.

COURAGE THE COWARDLY DOG

The majority of cartoons from the early 2000s were often highly joyful and heartwarming. However, “Courage the Cowardly Dog” was a show about scary monsters that looked like they could be straight out of some Steven King book or an old horror movie. It wasn’t really the most kid-friendly show, but it had to be one of, if not the all-time popular cartoon of the 2000s.

SHARARAT

How we wished we were three magicians who lived in a house where they could make anything happen. For us, that was “Shararat”. This childhood show was almost like a fantasy world for Indian children—a mansion with three generations of magicians living in “Muggleland.” Therefore, we had this tiny region of Indian magicians long before the world had Harry Potter and the country of Hogwarts. It was seasoned with sweetness, spice, and just the proper amount of vice.

SCOOBY-DOO

Everyone who was born after the 1960s has seen “Scooby-Doo” at some point in their lives. In essence, Scooby, Shaggy’s talking dog, and four youngsters (who appear to be in their mid-20s) look into numerous crimes that happen around town. The twist is always that the crimes were perpetrated by some type of monster, ghost, spirit, beast, or pretty much any extra-natural entity. The characters on the programme were Fred, who was slick and sophisticated, Velma, who was nerdy, Shaggy, who was laid back and easily scared, Scooby, who loved scooby snacks, and Daphne, who played a sort of damsel in distress role.

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A SPRAWLING PIECE OOZING WITH LOVE FOR EVERYTHING INDIAN

Every 10 minutes during the first half, the movie keeps switching its genre, undergoing brilliant tonal shifts with the assurance of a master conductor at work.

Murtaza Ali Khan

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Laal Singh Chaddha

The long-awaited Aamir Khan and Kareena Kapoor starrer “Laal Singh Chaddha,” which has finally hit the theatres this week, is an adaptation of the 1986 novel titled “Forrest Gump” by the American author Winston Groom. The novel was famously adapted by Eric Roth for the 1994 Hollywood film of the same name, directed by Robert Zemeckis, which bagged 6 Academy Awards. Directed by Advait Chandan, Laal Singh Chaddha also stars Naga Chaitanya (in his Hindi film debut), Manav Vij, Arun Bali, Mona Singh, and Aaryaa Sharma.

Given the narrative’s sprawling nature, making a film like “Laal Singh Chaddha” is like making 15-20 films. That’s how herculean the task would have been for Aamir, Advait, and the team. Remaking a film like Forrest Gump is no kid’s play. I don’t think anyone but Aamir Khan could have delivered a film of this scope and scale. It’s heartening to see the kind of respect that the film pays to historical accuracy as well as getting the different aspects of Sikhism right.

Every 10 minutes during the first half, the movie keeps switching its genre, undergoing brilliant tonal shifts with the assurance of a master conductor at work. Credit must also go to Atul Kulkarni for beautifully adapting “Forrest Gump” to an Indian setting and for seamlessly weaving the important historical events of the last 40 years into it. When it does the Kargil War, it seems to do it better than ‘Shershaah.’ When it does sports, it seems to match “Bhaag Milkha Bhaag.” When it does comedy, it seems to do it better than most. And as a drama, it really excels in terms of cinematic storytelling for the most part.

“Laal Singh Chaddha” comes across as a breath of fresh air at a time when the Hindi film industry needs it the most. Aamir Khan’s innocence personified as Laal Singh Chaddha, and his chemistry with Kareena Kapoor is the major highlight of the film, along with his bromance with Naga Chaitanya and Manav Vij. There are some beautiful segments of magic realism that are beautifully crafted. Like a boy who walks using crutches, suddenly starts running like P T Usha when subjected to bullying. The colour grading is so good that the movie looks stunning visually, and honestly, I haven’t seen a more beautiful looking period film made in India.

Aamir Khan transforms into ‘Laal Singh Chaddha’ in no time and brings the character to life as only he can. Chaddha’s simplicity, to go with his honesty and a sense of contagious optimism that he carries with him at all times, lights up the screen. Whether he is narrating some story, trying to save lives on a battlefield, or making an effort to sell undergarments, Aamir’s Chaddha always makes us root for him.

Mona Singh is wonderful as Chadda’s loving mother. It’s easily the performance that will take away all the accolades. I was in school when ‘Jassi Jaisi Koi Nahi’ used to air on TV and having seen Mona Singh all these years, I have always known that she is a fine actor, but seeing what she achieves in ‘Laal Singh Chaddha’ made me realise that she is actually one of the finest actors working in the country right now.

But the biggest surprise of the movie is Kareena Kapoor. Who would have thought that a wafer-thin character that Robin Wright played in “Forrest Gump” would become the centrepiece of the Hindi adaptation almost three decades later. This is Kareena Kapoor’s finest performance since ‘Jab We Met.’ It is a layered performance, and we can see the character’s dichotomy throughout the film’s running time.

It can be said with absolute certainty that technology has been put to use to de-age Kareena (and Aamir) for this. But the end result is so good and it makes me particularly happy that we have aced the use of this cutting-edge technology better than what Hollywood did with, say, ‘The Irishman’.

I also would like to praise both Naga Chaitanya and Manav Vij for their wonderful cameos. For me, their characters’ bromance with Laal Singh Chadda is one of the film’s major highlights. It’s a masterstroke to make Manav Vij’s character a soldier from the enemy ranks, as opposed to ‘Forrest Gump’, where Gary Sinise’s Lieutenant character was Gump’s compatriot. I would be remiss to not mention Pritam, Arijit Singh, and Amitabh Bhattacharya, who have done wonderful work with the film’s music, songs, and lyrics. Overall, I must say that Laal Singh Chadda has reinstated my faith in Hindi cinema. It’s not a perfect film. It suffers from pacing issues in the second half. It’s probably not even Aamir’s best work. But it is cinematic storytelling at its purest. Here’s a sprawling period piece oozing with nostalgia and an abundance of love for everything Indian. The naysayers can denounce him, but so long as we have stalwarts like Aamir Khan working in the Hindi film industry, Bollywood is here to stay.

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In the blink of an eye

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Gallery Dotwalk is all set to organise a group exhibition show titled “In the Blink of an Eye”. The show, curated by Shruti Ramingaiah, has already started and will be held till 10th September 2022. ‘In the Blink of an Eye’ considers the states of transcending into sleep and being awake as a metaphor to reflect on time as extended, indefinite, and nonconsecutive happening, event, and passage.

The show features ten artists from different cities in India with the diverse practises and approaches they bring to this exhibition. Each artist in this exhibition explores events from the past and even recent times. They reflect on the many meanings of memory, from personal to collective. Going back to their roots, a group of artists revisit their relationship to a site, place, and events.

The ten artists are Bhisaji Gadekar, Chandan Bez Baruah, Jyothi Basu, Kundan Mondal, Midhun Gopi, Rachana Nagarkar, Prajakta Palav Aher, Saju Kunhan, Shruti Mahajan, and Sneh Mehra.

In a candid conversation, curator Shruti Ramingaiah said, “This curatorial is interested in the idea of transition and how we understand the element of time in our everyday and the changing world around us. This show is an attempt to reflect on time that is non-linear. It asks us how we connect with the past, present, and future that are taking place, overlapping simultaneously. The exhibition considers a brief state of transcending into sleep and being awake as a metaphor to explore the possibilities of going beyond our preset notions of time in our daily life. The exhibition probes the viewer to rethink, what it means to be constantly on the move. At the core of all this, how then do we make sense of reality? “

The show will be on view from Tuesday to Sunday from 11 am to 8 pm.

Headquartered at Delhi-NCR, Gallery Dotwalk is an art gallery committed to building an art space that pivots on integrity and genuineness that converses with art enthusiasts around the world, utilising the prowess of technology and positive contributions to the art milieu.

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