VARINDIA IT MAGAZINE

Axis Bank has entered into an agreement with Jasper Infotech Pvt Ltd to acquire 100 per cent stake for $60 million (Rs 385 crore) in its subsidiaries, namely, FreeCharge Payment Technologies Pvt Ltd and Accelyst Solutions Pvt Ltd, which together constitute the digital payments business under the 'FreeCharge' brand. The transaction is expected to close by the end of September 2017 subject to regulatory approvals. Shikha Sharma, Managing Director and chief executive of Axis Bank, added that the deal is key from a strategic perspective for the bank. While the bank is expecting regulatory clearance of the deal in two months, it might be looking to merge its wallet business with the latter. While adding to the conversation, Axis Bank’s chief financial officer Jairam Sridharan told the media that the acquisition might double their customer base of the bank leapfrogging its digital journey by years. Secondly, sources revels the leadership team of Axis Bank is committed to the ...

Finova Capital has been aggressively augmenting its senior leadership positions. In the same effect, the MSME lender has announced on-boarding two veterans in the field of Banking & Finance, Rahul Sahney and Anurag Agrawal. While Rahul Sahney has joined the team as the Chief Operation Officer, Anurag Agrawal will be heading Credit & Operations at Finova Capital.  Rahul Sahney has rich experience of over 13 years in the Financial Services industry. In his previous undertaking, Rahul was associated with institutes like Axis bank, Reliance Consumer Finance, AU Financiers, and the Standard Chartered Bank. Rahul is credited with scaling up construction finance business in AU financiers.  Mohit Sahney, MD & CEO, Finova Capital, said, “I am excited to announce that Rahul Sahney, previously associated with Axis Bank and Reliance Consumer Finance, etc, will be joining Finova Capital as the COO. He brings on board an enriching industry experience and hands-on kno...

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE   Axis Bank has chosen Array's application delivery controllers for their mobile banking application 'Axis Mobile'. Leveraging the latest in wire speed encryption technology, APV Series application delivery controllers ensure the availability, security and reliability of Axis bank mobile banking applications. 'Axis Mobile' is a service launched by Axis Bank to cater to an ever growing mobile client base in India. For Axis Bank, growth in mobile users was unanticipated and exponential, totaling more than 200,000 active users within a span of 6 months. Due to this high usage within a short time period, Axis experienced delays in supporting their new mobile banking customers... See More