System is capable of delivering superior functional coverage and future ready architecture with the capability of handling 100 million transactions per day
Polaris Software, a leading global financial technology company, has announced that the Reserve Bank of India (RBI) has chosen Polaris to implement its Intellect Core Banking System (CBS) across the apex bank. The $55 million end-to-end implementation deal includes system integration and maintenance of software for a period of ten years.
India's central banking institution wanted to implement a centralised Core Banking Solution at all its offices encompassing all banking and accounting operations to align with its current and future IT requirements, including one Generalised Ledger for the bank.
The Intellect CBS would help the RBI to have a cross-functional and seamless automation and integration of the banking operations in all regional offices of the bank to ensure extremely high scalability and highest levels of performance in all operations.
Integration across multiple and disparate systems is a common scenario in large Central banks like RBI, and to address this, Intellect CBS provides a very efficient integration middleware to provide seamless integration and interface with large number of systems running on a wide range of hardware, operating systems and technologies.
On the security side, Intellect CBS will seamlessly integrate into the IT environment of RBI, meeting all its process flow and work flow requirements. The solution will provide future regulatory and functional requirements of RBI with shortest go-to-market timelines. It provides unique and state-of-the-art security features such as internal account numbers, tamper-proof database, PKI-supported transaction execution and storage, security in account operations including positive pay features, document certification and verification, two-factor authentication and other provisions.
The centre would provide support for global testing for MasterCard’s business applications and intelligence
IT firm Mahindra Satyam today said that it has entered into a global alliance with MasterCard to set up a testing centre in Malaysia.
The centre would provide support for global testing for MasterCard's business applications and intelligence, Mahindra Satyam said in a filing to the Bombay Stock Exchange.
The company's testing 'Center of Excellence' for MasterCard will support its effort around research & development and facilitate global collaboration, the filing added.
"Establishing this Center of Excellence connotes the beginning of a valued relationship with MasterCard," Mahindra Satyam's senior vice president-sales and operations, Lakshmanan Chidambaram said.
Through this collaboration, Mahindra Satyam intends to leverage its expertise of testing in credit card functionalities and automated processes to enhance the customer and cardholder experience for MasterCard clients around the world.
IDFC says joint venture between the two largest broadcasting groups could be a game changer in the TV distribution business in the country and would help drive addressability and digitisation
Last week, broadcasting networks Star-DEN and Zee-Turner signed a 50:50 joint venture, setting up the largest broadcast bouquet in the country with 68 channels. Through this set up, Star-DEN and Zee-Turner aim to improve the industry dynamics, particularly for cable operators, which should translate into superior subscription revenues for them over the longer term. The new venture, named Media Pro Enterprise India, has been described as a critical development for the industry that will drive addressability and digitization as also improve the economics of the organised industry.
IDFC Securities Ltd believes that "Media Pro will be a formidable force in the TV distribution industry and will have the inherent capability of changing the TV distribution landscape in the country. With Media Pro poised to command pricing power, we believe it would drive addressability in the Indian TV distribution landscape. This would aid in shifting the 'value add' in the industry from the unorganised local cable operators (LCOs) towards broadcasters and multi-system operators (MSOs)."
Today, there are four major broadcasting groups in India: Star-DEN, Zee-Turner, Sun18 and MSM Discovery. Star-DEN is a JV between Star group and DEN Networks that includes all Star channels, except for the sports channel and channels from other broadcasters like NDTV. Zee-Turner is a 74:26 joint venture between Zee Enterprises and Turner which includes all channels of Zee, except the sports channel and channels like Cartoon Network, HBO and Pogo from Turner.
Sun18, the most recent tie-up, between Sun group and Network18 group, distributes 33 channels, inclusive of all channels of the TV18 group, Sun Network and Disney. MSM Discovery, the fourth major broadcasting group, is a joint venture between Sony Entertainment Network and Discovery Communications. Also known as One Alliance, it distributes 18 channels, including all channels of Sony and Discovery in India.
In FY11, Star-DEN earned revenues of about Rs1,000 crore and Zee-Turner registered revenues of about Rs800 crore. "We view the coming together of the two largest broadcasters of the country as a critical development for the industry as a whole. We believe the joint entity will aid in driving addressability and digitization and improve the economics of the 'organized' industry in the longer term," IDFC says. "With the JV being a mere pass-through entity (retains 2%-3% commissions), the financial impact on Star-DEN and Zee-Turner will be limited in the near term and will be derived only over the longer term as the subscription pie increases."
The cable and satellite television market in India emerged in the 1990s and has since then seen strong growth, in terms of the growth of the number of subscribers from a mere 4 lakh in 1992 to around 9 crore today; a compound annual growth rate (CAGR) of 35% over the last 18 years. With a share of roughly 40%, the television industry accounts for the largest share in the roughly Rs70,000 crore Indian entertainment and media industry, followed by print, film, radio and other media.
Currently, the television distribution network in India caters to around 140 million television homes, over 60% of these in the analog category, while the digital cable service is fed to a low 4.5 million television homes. There are around 50,000 LCOs and 1,000 MSOs, about 10 of these are major MSOs.
"We do not see the JV (between Star and Zee) disrupting the trade for organised MSOs like Hathway and DEN. Our sense is that the JV will work towards improving the profitability of the entire value chain by targeting the LCOs. Hence, we see a larger longer-term agenda in the formation of the JV and do not see any impact in terms of content cost for MSOs like Hathway and DEN," IDFC said.
The research report said, "The development (Star-Zee JV) is clearly positive for broadcasters and organised MSOs like DEN and Hathway, as addressability will underpin strong growth in subscription revenues and, thereby, profitability. Further, with DEN and Zee having a direct stake in the newly-formed entity, we believe they would be the biggest beneficiaries of this development among the listed players."
However, the venture could push up content costs for direct-to-home (DTH) operators. IDFC said, "With respect to DTH operators, however, where declaration levels are 100%, the JV would shift the pricing power to broadcasters (particularly Star and Zee). Thus, while DTH operators have enjoyed the upper hand, as broadcasters' revenues from DTH exceed that from cable, we believe the terms of the trade could change. As the newly-formed entity exercises pricing power, content costs for DTH operators could trend upwards. Having said that, our sense is that the impact on Zee Group's Dish TV and Star-owned Tata Sky would be limited."
"In terms of carriage revenues, we believe the formation of this JV would not have any material impact on the carriage revenues of the industry. Given the reach and scale of Star and Zee, we believe the two networks have a relatively lower payout of carriage," the report said.
There are about 550 TV channels in the country, out of which about 400 are active. There are 106 channels which still use the analog system to broadcast signals to 90 million homes. In addition, there are 300 TV channels ready to start broadcasting as and when they receive the licence. Due to a dearth of digital infrastructure, broadcasters are compelled to continue to use the analog system and pay more money as carriage fees.