HCL Technologies, Finzsoft sign agreement for financial IT solution

Under the agreement Finzsoft will have some part of its solution from HCL Technologies and latter will offer services to the customers using Finzsoft product suite

Indian IT company HCL Technologies has expanded its partnership with New Zealand based financial and banking IT solution provider Finzsoft to offer uniform product in the segment.

"Both the companies have been working together from quite some time. In May 2010, we signed a formal agreement to offer financial solutions and today we are extending it to uniform product development," Rajiv Sodhi, senior corporate vice president and chief customer officer, HCL Technologies said.

The agreement signed earlier between the two companies was a teaming agreement which has now been extended to uniform product development.

"The extension of this partnership was important because the demand of financial solution is growing. Together we will be looking for developing global capacity," Andrew Holliday, director, Finzsoft Solutions said.

Finzsoft offers end-to-end products form financial and banking services. Under the new agreement Finzsoft will have some part of its solution from HCL Technologies and latter will integrate and offer services to the customers using Finzsoft product suite.

"Finzsoft will get revenue from the product licence, while HCL Technologies will earn from sale of HCL Technologies components in the product suite, system integration and services," Sodhi added.

On Wednesday, HCL Technologies ended 0.49% down at Rs487.55 on the Bombay Stock Exchange, while the benchmark Sensex gained 1.09% to 18,693.86.


Groupon's SoSasta.com leaks entire database from India

SoSasta.com, which offers discount deals to over 3 lakh users in 11 cities across India, says its entire database was 'accidentally' leaked over the Internet and indexed by Google

Groupon, the world's largest daily deals website, has admitted that a security issue has affected subscribers of its Indian unit SoSasta.com.

This was discovered by Australian security consultant Daniel Grzelak, who found the entire user database of SoSasta.com was accidentally published over the Internet and even indexed by Google. The database contained email addresses and clear-text passwords of around 3 lakh users of SoSasta.com.

Mr Grzelak told Risky.Biz portal, which deals with such security issues, that he was searching for publicly accessible databases containing email addresses and password pairs, when he stumbled upon the user database of SoSasta.com. He said, "A few hours and tweaks later, this database came up. I started scrolling and scrolling and I could not get to the bottom of the file. Then I realised how big it actually was."

According to the report on Risky.Biz, Mr Grzelak contacted the portal to seek advice on disclosure. The website, in turn contacted Andrew Mason, chief executive of Groupon. "The database was removed immediately and the company has launched an internal investigation to find out how it wound up publicly accessible in the first place," said the report on Risky.Biz. "Groupon is notifying all its SoSasta users of the incident and is advising them that the passwords they used on the website are now compromised and cannot be relied upon to secure other accounts."

According to the ZDNET India IT blog, Groupon sent an email to local users on Monday, which reads: "Over this weekend, we've been alerted to a security issue potentially affecting subscribers of Sosasta. We wanted to let you know that the issue has been brought under control and your accounts are secure. However, as a precautionary measure, we recommend that you change your SoSasta password immediately, by visiting the SoSasta website[...] Please be aware that none of your financial information (Credit Card, Debit Card, NetBanking etc) has been compromised since this information is not stored on SoSasta, as per law."

Chicago-based Groupon bought SoSasta.com from Kolkata-based Friday Media Pvt Ltd for an undisclosed amount, in January. At present, SoSasta.com offers discount deals in 11 cities (Mumbai, Pune, Kolkata, Hyderabad, Delhi, Bengaluru, Chennai, Chandigarh, Ahmedabad, Jaipur and Nagpur).


Bharti Airtel introduces international video calling for 3G users

Video calls to the UAE, Singapore, Malaysia, Saudi Arabia and Oman are priced at Rs20 per minute

Bharti Airtel, the country's largest telecom operator by subscriber base, has launched international video calling service for its 3G customers in the country.
Airtel 3G mobile customers in the country will now be able to leverage Airtel Internet on 3G to make international video calls and interact face-to-face with their loved ones and colleagues living abroad-instantly sharing experiences and information, Airtel said in a statement.

Last year, the government had banned video calling services by telecom operators on security grounds. The ban was later lifted subject to an undertaking by operators that they would provide interception capability by 31st July this year.

Telecom operators offering NextGen 3G mobile services were asked to stop the services as security agencies were not able to intercept the video calls on real time basis. Airtel's international video calling is currently available for 227 international geographies. An Airtel 3G customer in India can see and talk with his friends and relatives in the US, Canada, Bangladesh face to face through video call at Rs14 per minute.

Video calls to the UAE, Singapore, Malaysia, Saudi Arabia and Oman are priced at Rs20 per minute. As a pre-requisite to making ISD video calls, both the caller and the called customer have to be on 3G network and have a front-camera in their 3G handset in their respective countries.


We are listening!

Solve the equation and enter in the Captcha field.

To continue

Sign Up or Sign In


To continue

Sign Up or Sign In



The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)