Customers Financial News

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Michael Summersgill (pictured) is the CEO of AJ Bell.

This Industry Insight is produced in commercial partnership with Shopify.

New Delhi: Like most, Abhinav Srivastava, the co-founder and chief executive of Palo Alto-based unicorn Mashgin, also detests long queues at stores during checkouts. Determined to tackle the issue head-on, he and his team developed an intuitive solution—a touch-less checkout system powered by cloud-based artificial intelligence (AI) and computer vision.

The US crypto industry has a new favorite banking partner, a small Pennsylvania-based called Customers Bank.

Canara Bank customers can generate offline OTP facility and OTP over the call facilty for all internet banking customers, according to the Canara Bank website. This OTP can be used for financial transactions, stated the Canara Bank website.

A third-party entity named "Eeon" has stepped forward to intervene in the case, representing the interests of Binance's customers regarding the lawsuit filed by the United States Securities and Exchange Commission (SEC) against Binance.

retail customers in California, New Jersey, South Carolina and Wisconsin will be unable to pledge new cryptocurrency to the exchange's staking program pending proceedings the states initiated last month challenging the service, Coinbase said Friday in a blog post. Any cryptocurrencies that users in those states had staked before the orders were issued June 6 are unaffected, Coinbase said.

Axis Bank has revised the terms and conditions applicable to Axis Bank Reserve Credit Card customers. The revised rules will be applicable from 13th August 2023, as per information available on the Axis Bank website. Following are details of the changes announced by Axis Bank.

Tata Power on Friday said its 7.5 lakh consumers in Mumbai to get substantial tariff reduction after an order by Appellate Tribunal for Electricity (APTEL), staying hike by state regulator MERC. «The APTEL today passed an order granting interim relief sought by Tata Power by staying the Maharashtra State Electricity Regulatory Commission's (MERC) revised tariff schedule on MTR (multiple tariff revision) frameworks approved by the Hon'ble Maharashtra Electricity Regulatory Commission (MERC),» a company statement said.

noteworthy milestone in a big way.  Its celebration “campaign was titled #50MillionFeelings to pay tribute to the myriad of feelings they have instilled in their customers over the years," Vistara said in a statement. The airline treated its 50 millionth customer with various services that included  a pick-up and drop service in a luxury, chauffeur driven car, surprise cabin upgrade to business class and complimentary Gold Tier membership for Club Vistara loyalty program.

Through the inclusion of Devtron’s Kubernetes native platform engineering suite, Coredge customers now have the added ability to deploy, manage, and scale their GitOps process with minimal effort. Additionally, for the customers who are just beginning their cloud-native journey, this partnership paves the way for applications onboarding, migration to Kubernetes or managing both cluster and application lifecycle through developer self-serve and a very efficient DevOps engine overall. Arif Khan, Founder at Coredge said, “Our deeper partnership with a cloud-native product like Devtron significantly improves Coredge’s telco cloud, edge and sovereign cloud offerings wherein enterprise customers can totally navigate the complexity of multi-cloud/cluster, manage the full infrastructure and at the same time provide a single pane of glass for developers to a golden paved path for self-serve and overall resource optimization." “I am thrilled about our partnership with Coredge.

HDFC Bank on Thursday said it has onboarded over 1 lakh customers and 1.7 lakh merchants under the Central Bank digital currency (CBDC) pilot programme. The bank also announced the launch of UPI QR code interoperable with India's sovereign digital currency. With this, HDFC Bank has become one of the first banks in the country to complete the integration process.

Georgia nail salon witnessed an extraordinary and hilarious incident earlier this week after a man attempted to rob the place. The salon on Piedmont Road saw an unsuccessful heist after customers and staff at the establishment both ignored the man attempting to rob the store. A $2000 reward has been announced for any information that leads to the arrest of the perpetrator of the failed heist.

Maruti Suzuki expects its market to grow faster by riding on the back of strong demand for its models, especially the SUV range, according to a senior company executive. The auto major anticipates the overall passenger vehicle market to grow in the range of 5-7 per cent this fiscal. The PV industry is expected to close the current fiscal at 40.5-41.3 lakh units, Maruti Suzuki India (MSI) Senior Executive Officer (Marketing and Sales) Shashank Srivastava said. «We have not revised our estimates which we had made at the beginning of the year. We said the industry growth would be in the 5-7 per cent range and our growth should be higher than the industry,» Srivastava said. He noted that in the first quarter, the company grew by 12.2 per cent while the industry grew by around 9.5 per cent.

RBI, card issuers would be prohibited from entering into any arrangement or agreement with card networks that restrain them from availing the services of other card networks. RBI said it is observed that arrangements existing between card networks and card issuers (banks and non-banks) are not conducive to the availability of choice for customers.

Axis Bank, one of the largest private sector banks, to facilitate personal loans for its valued customers, adding additional convenience and enhanced benefits to its 450 million customers. The newly introduced personal loan service offers highly competitive loan options, granting access to amounts as high as ₹5 lakhs, allowing customers flexible repayment cycles ranging from 6 to 36 months. Flipkart’s introduction to personal loans demonstrates its commitment to addressing customers’ demands in today's financial environment and leveraging the potential of digital lending.

RBI) on Wednesday asked banks and non-bank lenders to issue credit, debit and prepaid cards on multiple networks to give customers the freedom to choose. «On a review, it is observed that arrangements existing between card networks and card issuers (banks and non-banks) are not conducive to the availability of choice for customers,» the RBI said in a draft circular seeking comments.

If you previously invested in Fixed Deposit schemes offered by HDFC Ltd, here’s some good news for you. While HDFC Ltd has now merged with HDFC Bank, your existing fixed deposits in HDFC will now be covered by Rs 5 lakh guarantee under RBI’s Deposit Insurance and Credit Guarantee Corporation (DICGC) rules.

Jinan, China, says all of its bus routes now accept digital yuan pay, and will incentivize adoption by granting discounts to central bank digital currency (CBDC)-paying passengers.

Insurance Australia Group has been fined $40 million for failing to pass on discounts to its policyholders, the largest such penalty in the sector.