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A $75M financial commitment is set to establish ZoidPay as the go-to open architecture for building the next generation of Web 3.0 financial services.
ZoidPay, the leading Web 3.0 architecture provider, has secured an investment commitment of $75M from digital asset investment firm GEM Digital Limited (“GEM”).
The funding is aimed at developing the go-to open architecture for building the next generation of financial services, scaling the first on-demand Metaverse, facilitating the first-ever bank acquisition by a blockchain firm, and launching a Web 3.0 super App.
Supercharged Web 3.0 APIs & SDKs
Since its launch in 2023, ZoidPay has established itself as a one-stop crypto liquidity solutions provider, enabling instant card issuance for purchases from any merchant at the lowest fees.
With this expertise, ZoidPay is now gearing up to release a full suite of Application Programming Interfaces (APIs) and Software Development Kits (SDKs) for B2B clientele aiming to build the next-gen of Web 3.0 Financial Service Apps and dApps.
Eduard Oneci, CEO & Co-founder at ZoidPay, stated
“The investment from GEM is a massive validation of what we are striving to achieve at ZoidPay. To have the financial commitment of one of the leading global alternative investment groups is the ideal backing we need to manifest a roadmap that will etch ZoidPay as the backbone of the Web 3.0 open architecture.”
ZETA, On-Demand Metaverse
ZoidPay has also recently announced the launch of ZETA, a fully decentralized world offering users an immersive experience with Augmented Reality (AR), Virtual Reality (VR), and Extended Reality (XR).
Built entirely in-house, ZETA will let retail users explore different avenues, including shopping, access to Web 3.0 Financial Services, and many more experiences aimed to expand their reality.
ZETA also happens to be the first on-demand Metaverse, offering B2B clients, including blockchain projects and developers, the open architecture to create their own customized digital world.
Harnessing the Full Power of Web 3.0
For end users, this would make High-Yield Index Accounts accessible, marking the switch from legacy to digital, and monopoly to decentralization. Web 3.0 loans would let a retail user avail of instant loans in any FIAT currency based on all digital assets that one may hold, NFTs included.
All of these offerings will eventually culminate into one of the most exciting upcoming fintech apps, ZoidPay’s Web 3.0 Super App. Billed a “Fintech PowerHouse” for Crypto and traditional Financial Services, the app will bring cards, Bank Accounts, Crypto, Bills, Investments, Insurance, and Loans into one place.
The app promises to extend retail users’ the convenience of switching their financial habits into autopilot mode. It will combine the security, control, and flexibility of traditional banking with the speed and connectivity of modern technology.
“By the end of the first quarter of 2023, we aim to become the biggest Web 3.0 architecture provider in the world. This comes after years of putting together the building blocks towards that direction, including forging partnerships, developing the tech, and putting together an extremely capable team. The investment from GEM now acts as a catalyst in our current phase of Hyperscaling. I’d like to extend a word of gratitude to the team at GEM for their incredible level of professionalism over the last year in this journey”
ZoidPay was established in 2023 as the go-to open architecture for building the next generation of Web 3.0 financial services. It is a one-stop crypto liquidity solutions provider, enabling instant card issuance for purchases from any merchant at the lowest fees.
For B2B clientele, ZoidPay offers full support APIs and SDKs to developers & financial businesses that want to build next-gen Web 3.0 financial services.
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Contact Name: Elena Oglinda
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Portkey, the first CA (contract account) wallet with DID (decentralized identifier) built on aelf network, introduced how it addressed the current pain points aching with a crypto wallet and enabled the massive migration from Web2 to Web3 at Consensus 2023 in Austin, Texas.
The CA wallet coming to live supported by account abstraction technology of aelf, the high-performance layer-1 blockchain network, features easy login without seed phrases, the capability of social recovery, full decentralization, low cost, and interoperability among different networks. Equipped with all these merits, Portkey is deemed to be a strong competitor to become one of the biggest gateways to Web3, if not the biggest. Moreover, Portkey offers both CA wallet to users and CA wallet SDKs to developers. Hence, it is highly anticipated that Portkey will soon attract an influx of users and projects from Web2 and Web3.
With the above being said, it can be expected that Portkey can become a Web3 “Super Application” where users get access to abundant DApps of various utilities within the wallet. As of now, Portkey already supports a considerable number of essential and innovative utilities for Web3, with some of them coming on the way.
First and foremost, Portkey supports on/off-ramp fiat to crypto exchange powered by Alchemy Pay. Web2 users can simply obtain their first batch of cryptos via Portkey just like making a purchase via Paypal. Developers also don’t need to worry about the inconvenience for potential users to purchase their well-designed or rendered digital assets. In terms of digital assets, Portkey allows peer-to-peer NFT transfers, which would add liquidity to the first-tier market of NFTs. It could also lead to an in-app NFT marketplace adding liquidity to digital assets.
One of the biggest utilities Portkey supports is Gaming. Having plenty of elements closely related to or could be related to Web3, such as digital assets, decentralized governance, metaverse, and so forth, gaming is deemed as a strong potential force for the future of Web3. Different from CA wallets or crypto wallets on other networks, Portkey is compatible with C# coding language, which is a widely used programming language for Web2 games. By providing them with the CA wallet SDKs compatible with C#, Portkey positioned itself as the strongest tool to onboard Web2 games onto Web3. In accordance with this, Portkey users can expect to discover and explore the largest amount of good quality Web3 games within the wallet application.
And this would have ripple effects on Portkey to attract more DApps in the areas beyond gaming or say, GameFi, such as DeFi, SocialFi, and other innovative Web3 DApps. With the convenient CA wallet tool, and at the same time, the high performance delivered by aelf which theoretically has unlimited scalability due to its main chain plus side chain structure and has a main chain TPS of around 35,000, Portkey foresees a steady and yet exponential growth of in-app DApps.
On top of the above, due to the interoperability of aelf, Portkey can also accommodate projects from other blockchain networks, including EVM-compatible ones. To accompany this, Portkey allows projects to pay gas fees using multiple tokens including non-native tokens to aelf. In this way, Project owners can expand their range of applications to increase their competitiveness, attracting more potential users and creating more traffic.
Token issuers can extend the use cases of their tokens and connect them with Portkey and to aelf ecosystem to enhance their liquidity. Users can enjoy the convenience and flexibility of using different tokens across different chains. Together, this will enlarge the scalability and richness of DApps within Portkey and do the same with an ecosystem of aelf.About Portkey
Portkey is the first CA wallet from aelf’s ecosystem, migrating Web2 users and developers into Web3 with DID solution.
Users can swiftly log into Portkey via their Web2 social info with no private keys or mnemonics required. Underpinned by the social recovery and decentralized verifier design, Portkey safeguards users’ assets from centralized control and theft. Portkey also generates nearly zero fees for account creation and user usage with a unique delegation mechanism.
Portkey provides crypto on/off-ramp services, allowing users to exchange fiat with crypto freely. It supports the storage and management of various digital assets such as tokens, NFTs, etc. The compatibility with multi-chains and seamless connection to all kinds of DApps makes Portkey a great way to enter the world of Web3.
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The National Institute of Digital Marketing is one of the best institutes for studying online marketing in India. The college was founded by Shri M.S. Kumar in 2010, with a vision to create successful careers in the digital marketing industry. The digital marketing courses from the National Institute of Digital Marketing (NIDM) are designed with practical knowledge. The college has trained over 30,000 students, and 3000+ batches, including students from 20+ countries.
The National Institute of Digital Marketing has guided over 100 startups and placed students in top MNCs in India. Digital marketing is one of the rapidly growing careers in India, and the institute is playing a vital role in preparing students for the industry. The NIDM is one of the leading institutes in Bangalore.What is the Importance of Digital Marketing?
Digital marketing, or online marketing, is nothing but digital marketing. It is a digital communication method to connect with consumers and improve the growth of the business. When we promote products or services via digital channels, it is called “digital marketing.”
In simple terms, marketing that involves the use of the Internet and digital technologies is called “digital marketing. It is way better than traditional methods to reach a bigger audience. With the help of online marketing, you can target your ideal customers.Benefits of Pursuing a Digital Marketing Course from NIDM
A digital marketing course is very lucrative and provides numerous job opportunities for candidates. Those who are interested in this field should thoroughly study it to learn more about it. There are numerous job opportunities in the digital marketing field, and it has become a lucrative career for candidates.Certified Trainers
The institute provides live instructors to train its students. They have quality certified digital marketing trainers with live industry knowledge. The trainers are experienced and teach in a practical way to make the concepts easy to understand.Live Projects
The main aim of the institute is to acquaint students with the latest digital marketing techniques. It helps to learn about the new and necessary tools along with the resources to succeed in the practical world. A combination of industry-focused classes and a customized program is provided by NIDM. The program helps students work on their skills in every aspect of digital marketing.Certification
The college offers certifications upon the completion of courses. A lot of the knowledge and skills that people need in every industry are included in these certification courses. They have 10 different certificates from NIDM and Google.Internships
NIDM provides paid internship opportunities to students. Internships are important and give a deeper understanding of the industry along with work experience.Placements
Digital marketing in NIDM is a program that guarantees a 100% job guarantee after the completion of the course. Through an alliance with some of the leading companies in the industry. According to the institute’s official website, they have successfully placed over 20,000 students in MNCs.Courses Offered by the NIDM (National Institute of Digital Marketing)
Check the below-given list of courses offered by the National Institute of Digital Marketing −
Dynamic Digital Marketing − The dynamic program is designed in a way that will help you become a digital marketing expert.
Hybrid Digital Marketing − The course provides a comprehensive understanding of digital marketing.
Advance Digital Marketing − This executive program of NDIM is designed for executives who are interested in a career in digital marketing strategy.
Social media marketing − Social media marketing is an excellent way to promote products and expand a company’s online reach. A career as an SMM is very in demand in India.
Search Engine Marketing − It is one of the most important aspects of this course to consider because it is one of the most demanding in the industry.
Web Designing − The industry looks for websites for small and large-scale businesses, this skill can be really helpful to get a high-paying, good job.
Graphic Designing − Graphic design makes the visuals more interactable on various platforms. A career in graphic design can really be growth-filled.
WordPress − A WordPress training course is a process that helps people create websites using the CMS. It allows them to design their own website using simple drag-and-drop features.
SEO − Some people are realizing that social media is an excellent way to promote businesses online, and search engine optimization is a game changer in this regard.Placements in the NIDM
The institute claims to offer a 100% job guarantee after the completion of the course. The institute has tie-ups with some of the leading companies to ensure placements. NIDM support includes resume preparation, HR assistance, references, and paid internships. The institute has successfully placed more than 20,000 students in multinational companies. The college has a dedicated placement team to make sure that everyone looking for a job, gets one.Top Companies at NIDM
As per the placement report of the National Institute of Digital Marketing, their alumni work in −
NIDM offers various courses; check the list of courses and the benefits of pursuing them. Here, we have listed the benefits, placements, companies, and courses provided by the NIDM. Read the entire article to make a decision about pursuing a career in digital marketing.
Introduction of Investment Banking Culture
Long working hours, layoffs, and a hostile work atmosphere are part of an investment banking culture. The work is rewarding, but the days are long and demanding. The top investment banks have been under fire for high-stress and exhaustion reports. The investment banking industry has been active throughout the pandemic, resulting in fatigue.Key Takeaways
An investment banker engages in several activities: equity research, sales and trading, mergers and acquisitions, security underwriting, raising capital, and front-office vs. back-office operations.
An investment banker typically puts in 80 to 100 hours per week due to unpredictable workflow and non-divisible tasks.
The causes of cultural problems in the industry include internal factors like board oversight and external factors like structure, growing size, and scope.
It must minimize cultural problems and cultivate the right culture, including hiring the right people, establishing appropriate remuneration structures, and guaranteeing staff retention.Investment bankers- Activities
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Investment bankers are involved in different activities:-1. Raising Capital & Security Underwriting
Investment bankers mark the price at which they sell the shares to make profits. The underwriting spread is the distinction between the purchase and markup prices.
The investment banker may occasionally act like a facilitator, marketing the offer without taking on any underwriting risk. The investment bankers in this situation might sell a portion of the securities and then be compensated on a commission basis for the quantity they sell.2. Mergers & Acquisitions
Long-lasting negotiations can be part of mergers and acquisitions, with investment bankers weighing multiple bids and counteroffers on both sides. Therefore, one needs to possess excellent social skills to succeed in the field.3. Sales & Trading and Equity Research
Investment banks facilitate securities trading by matching up compatible buyers and sellers. Sometimes they even trade in securities from their accounts.
Research reports indicate whether to buy, sell, or hold a stock based on a company’s rating. Research is conducted by analyzing and contrasting multiple company and performance reports. Investment banks provide clients access to these reports, enabling investors to make money through trading and sales.
Furthermore, some businesses choose not to go public. Clients that choose to raise cash through private placements over the stock or bond markets can also get assistance from investment bankers.4. Front office v/s back office
Functions like M&A Advisory are “front office” work. The “back office” work includes risk management, control, corporate treasury, compliance, corporate strategy, operations, and technology.
Learn more about the roles of Investment Bankers hereInvestment Banking Culture- Working Hours
Working hours of analyst per week
Investment bankers work 80-100 hours weekly, and analysts may work until 4 am during peak times. Some analysts may brag about only going home to change clothes.
Investment bankers have unpredictable working hours; they can spend the entire day in a coffee shop or browsing the internet and sometimes don’t have time for lunch.
Team meetings and replying to emails from clients, senior bankers, or coworkers typically fill the mornings. The morning hours are generally uneventful and unhurried from when an investment banker arrives at the office at around 9 am until they take their lunch break.
Investment bankers have a busy afternoon schedule, including analyzing paperwork and revising financial statements. They chat with peers during their lunch break, typically 30-60 minutes. These tasks can be time-consuming and stressful.
To avoid report errors, investment bankers must double- and triple-check their work. Errors are costly and time-consuming to fix and can lead to clients backing out of agreements, making them unacceptable.
Investment bankers often eat dinner in the office after concluding revisions around 7-9 pm. They collaborate with colleagues from different departments to create presentations using IT tools to prepare for the next day’s meetings.
First-year investment bankers frequently leave the office between 11 pm and 1 am and prepare to resume work later that morning.
Work can come at unexpected times, taking Friday, Saturday, and Sunday nights.
Investment bankers commonly work on weekends to catch up on tasks that can take a few hours or the entire weekend to complete.
The answer to this question is NO 🙁Investment Banking Culture – Tasks of an Analyst
Within Investment Banking, an analyst is primarily involved in two types of work.
Non-divisible work means that even if you add more employees to complete the task, the work will not get over quickly as the work cannot be divided. Let’s understand this using an example. An analyst will be required to prepare the financial model in Excel. This financial model cannot be broken down into pieces that can be allocated to the different employees. The entire model has to be prepared by a single individual. Once the financial model is ready, the review of this model can be done by a different person.
Investment bankers come with a high cost to the company. Stretching their resources is less expensive than recruiting more people who would spend most of their time idle.Investment Banking Culture – Cause of Problems
Investment Banking’s corporate culture is often accused of being toxic. Since the financial crisis, many people have brought up industry-wide cultural issues in investment banking. These causes include internal factors like board oversight, awareness of their balance sheets, staff incentives, and external factors like structure, the growing size and scope of banks, regulation, and supervisory.
Furthermore, 62% of senior investment bankers think poor or ineffective upward communication of issues to management is a profound cultural issue. Senior bankers stated that despite providing decent policies and procedures for staff to voice issues, their juniors usually hesitate to speak out.
However, fostering the’ right’ culture has the potential to do more than simply solve the problem. Organizations with the right culture might have a competitive edge, challenging competitors to imitate.
The Investment Banks must provide the following.Hire the right people.
Hiring the right people is crucial in improving the investment banking culture.
Motivation is one of the most important factors required in a person to succeed. Investment banks hire people who are motivated to become wealthy.
It allows people to grow and maximize their potential, be it earning or career reasonable progression; investment banks require people with that mentality. The problem comes during the assessment where only one side of the coin is assessed, i.e., how well an employee is performing and fails to look at the second side, i.e., whether the employee is staying in line with where you want in terms of risk. This creates the framework of a toxic culture.
Choosing the right people is essential to building a strong culture. Senior leadership training is crucial for initiating cultural change. According to Deloitte, companies with strong leadership can have a 35.5% or more difference in value compared to those with weaker leadership. Financial services organizations benefit more from effective leadership, with a potential overall difference of over 37%.
Senior bankers in a survey identified employee assessment metrics as the top lever for cultural change. Performance measurements should balance risk and reward while assessing an employee’s behavior. This is crucial for enhancing culture in an industry where salary is a primary motivator.
Banks are increasingly evaluating staff based not only on their work but also on how they approach it.
Filling the company with risk-hungry, short-term thinkers through bad hiring policies creates a toxic culture.Right Compensation arrangements
Compensation arrangements are one of the important causes of the toxic culture in investment banking. One of the most challenging issues is maintaining motivation when compensation stagnates or declines.
Structuring incentives and bonuses can be highly lucrative for those who maximize their ascendancy.
Investment banking does not look at people with a 40-year career and aspiration to get to the top but at people who want to make a significant impact and move that impact up.Ensuring Employee retention
Nowadays, people don’t stay in one organization. They work hard in one organization for two to three years, enjoy a high bonus, and then move to the next organization.
To counteract this, investment banks must look at personnel policies at every level – recruitment, promotion, and compensation.Conclusion
Investment bankers have reservations about the industry’s capacity to manage key facets of culture successfully. Furthermore, culture is nebulous, making it challenging to predict precisely what levers will alter it. The investment banking sector is being pushed to change deeply ingrained organizational processes and attitudes in a substantial cultural way. There are unprecedented expectations about the scope and speed of cultural transformation in the sector. However, cultural change might be feasible with the right people and policies in place.FAQs 1. How Do You Get Into Investment Banking?
Answer: Prerequisites include financial modeling, corporate valuation, Accounting, and Excel skills. As for educational backgrounds, a business degree and an MBA can be beneficial. Additionally, many other abilities aren’t always related to a degree. Persuasive and persistent are two qualities that investment bankers possess. They also have the interpersonal abilities to create a network and the bargaining ability to close transactions.2. How Much Money Do Investment Bankers Make?
Answer: The base salary for an analyst can range from $85k – $100k, and the total remuneration is $125k – $200k. Accomplished investment bankers in their mid-career can earn anywhere from $300k – $1M.3. What skills does an investment bank look for in a candidate?
Answer: One’s work in the investment banking sector will involve assisting clients in resolving some of their most pressing strategic and financial problems. Businesses seek candidates who will succeed in a fast-paced setting where the ability to multitask and manage time is crucial.
Most importantly, one should be able to think analytically and feel at ease working with numbers; hence Excel and accounting are important skills. One must also possess strong interpersonal and communication skills to collaborate effectively with clients and team members.Recommended Articles
Here are some articles that will help you get more details about the Investment Banking Culture, so just go through the link.
Researchers from Google, the University of Rochester, the University of California, and Columbia University have unveiled a groundbreaking PRESTO dataset. This dataset consists of more than 550,000 multilingual conversations between humans and virtual assistants. It is designed to facilitate more realistic model training. The dataset aims to optimize language model performance by addressing numerous challenges in natural language understanding (NLU) tasks.Bridging the Gap in Task-Oriented Dialogue Research
Virtual assistants such as Google Assistant, Alexa, and Siri have gained widespread popularity, prompting researchers to investigate task-oriented dialogue. However, existing datasets have not captured the broad range of user pain points. This has limited the potential impact of academic research in the field. Though created to address these limitations, custom datasets still lack the typical speech phenomena required for effective model training. Thus, resulting in underperforming models and users’ dissatisfaction with assistant interactions.PRESTO: A Multilingual Dataset for Real-World NLU Tasks
On March 17, 2023, the multidisciplinary team introduced the PRESTO. It is a multilingual conversation dataset spanning six languages: German, English, Spanish, French, Hindi, and Japanese. PRESTO encompasses a diverse array of challenges commonly encountered in real-world NLU tasks, such as disfluencies, code-switching or code-mixing, and user revisions.
The dataset is unique and valuable. It features three types of structured context provided by native speakers of each language: notes, contacts, and user utterances with their parses. Additionally, PRESTO includes annotations that identify conversations with user revisions. Thus, aiding in the development of better virtual agents through improved natural language comprehension.Addressing Code-Mixing and Disfluencies
PRESTO tackles the pervasive problem of code-mixing. As previous research has shown that bilingual users frequently switch languages while interacting with virtual assistants. About 14% of the dataset comprises code-mixed utterances annotated with the help of bilingual data contributors. Furthermore, the dataset incorporates conversations containing disfluencies, such as repeated phrases or filler words, in all six languages. This would help ensure a diverse and comprehensive resource.Evaluating Model Performance with PRESTO
The researchers used mT5-based models trained on PRESTO for their experiments. They developed explicit test sets to individually assess model performance, with a focus on each phenomenon, such as user revisions, code-switching, and disfluencies. Results demonstrated that zero-shot performance is poor when targeted phenomena are absent from the training set. Thus, emphasizing the necessity of incorporating such utterances to improve performance. The study also revealed that while some phenomena, like code-mixing, require a large volume of training data, others, like user revisions and disfluencies, can be modeled effectively with few-shot samples.Advancing Natural Language Understanding Research Addressing Challenges in Multilingual Conversations Empowering Virtual Assistants with Rich, Contextual Understanding
The inclusion of structured contexts, such as notes, contacts, and user utterances with their parses, enables models trained on PRESTO to develop a more profound understanding of the context surrounding user interactions. This richer contextual understanding allows virtual assistants to respond to users more accurately and efficiently, resulting in more natural and helpful interactions.Collaborative Efforts for a Brighter AI Future
The development of the PRESTO dataset highlights the importance of interdisciplinary collaboration in the realm of artificial intelligence research. By bringing together experts from Google, the University of Rochester, the University of California, and Columbia University, the PRESTO project showcases how collaboration can lead to significant breakthroughs that benefit users globally.
As virtual assistants continue to gain traction and become an integral part of daily life, the need for improved natural language understanding has never been more urgent. PRESTO promises to revolutionize how virtual assistants understand and engage with users by focusing on real-world challenges and incorporating diverse linguistic data.Encouraging Wider Adoption and Further Research
The PRESTO dataset’s creators hope it will inspire further academic research and industry applications, leading to more intelligent and responsive virtual assistant systems. By providing an open-source resource with a wealth of multilingual data, they aim to foster a more inclusive AI research community and facilitate the development of language models capable of understanding a wide array of user needs.
In conclusion, the PRESTO dataset represents a significant leap forward in the quest for better natural language understanding (NLU). As researchers continue to explore the challenges associated with human-virtual assistant interactions, they now have access to a comprehensive and diverse dataset that captures the complexities of real-world conversations. The PRESTO dataset is poised to make a lasting impact on the field of artificial intelligence research. With the potential to revolutionize virtual assistant interactions and enhance the overall user experience,
Here is why you should own a cybersecurity stock in your investment portfolio
As businesses across the world are adjusting to the new normal of preserving business continuity in the face of a pandemic, their data is becoming increasingly exposed to hackers. In its quest for fast digital transformation, India Inc. is also confronted with a high-risk environment. Multiple endpoints in data chains have been developed as a result of new operating models, giving attackers access to critical company data. The Indian Computer Emergency Response Team (CERT-In) observed approximately 6.07 lakhWhy Cybersecurity Firms Will Do Well?
Enterprise security and risk management investment in India is predicted to expand 9.5% from 2023 to US$2.08 billion in 2023. The need forContinuing Remote Work
Organizations are more exposed to cyber dangers than ever before as remote working arrangements become increasingly common. Employees rely on their gadgets and home networks in remote work setups. These don’t have the same level of security as a corporate setting. As a result, they create a weak point in a business network’s security.Need for Privacy Protection
Data risk is becoming more widely recognized among tech-savvy customers. This is particularly true as our lives become increasingly electronically linked, with anything from sensors to 5G. Consumers are wary of digital businesses and criminal actors probing into their personal lives.Need for Restricting Ransomware
Organizations are being severely harmed by ransomware and other sophisticated assaults. Ransomware assaults have wreaked havoc on India. According to research, India experienced the greatest number of weekly assaults per organization (213) in the first few months of 2023.Popular Cybersecurity Stocks in India:
Quick Heal Technologies– Quick Heal, one of the top SecureKloud Technologies– SecureKloud is a cloud-native company that provides enterprise security solutions, services, and platforms. The firm offers a proprietary identity and access management system that, among other things, can assist enterprises with security, access control, governance, scalability and full identity life cycle management. The company’s software, Cloud Authmulti-factor authentication, secures a range of business applications by confirming unique identities in seconds. As of October 21, 2023, the company’s stock price has increased by more than 100% YTD. and Software– Enterprises may use the company’s risk intelligence products, which include tactics for predicting risk and minimizing harm. Companies get real-time incident reporting, asset danger visualization, and in-depth analysis of global changes that might affect their operations and staff. In Q1 2023, the company’s net profit increased by 382.7% to Rs 2.80 crore, a significant increase from the Rs 0.58 crore in Q1 2023. RS Software– The world’s largest corporations use RS Software’s specialized e-payment systems. The prevention of fraudulent digital payments transactions is one of the company’s main services. It may create predictive fraud models based on client data, resulting in a common fraud detection model. In addition, the organization provides consulting services on worldwide regulatory compliance in payment mechanisms. It is now valued at Rs 85.74 crore on the stock market. The firm earned Rs 375.98 crore in total revenue and Rs 353.8 crore in gross sales in the third quarter of 2023.
As businesses across the world are adjusting to the new normal of preserving business continuity in the face of a pandemic, their data is becoming increasingly exposed to hackers. In its quest for fast digital transformation, India Inc. is also confronted with a high-risk environment. Multiple endpoints in data chains have been developed as a result of new operating models, giving attackers access to critical company data. The Indian Computer Emergency Response Team (CERT-In) observed approximately 6.07 lakh cybersecurity events in the first half of 2023 alone, including 12,000 cases involving government organizations. Businesses and governments across the world are doubling their efforts to increase cyber resilience in the wake of a series of high-profile attacks. As a result, next-generation cybersecurity technology (both software and hardware) is in great demand, resulting in favourable financial outcomes for cybersecurity enterprises in 2023. Initially in 2023, cybersecurity outperformed the S&P 500 and Nasdaq by 16.8%. The market has grown by 592% in the last 10 years, reaching US$425.8 billion in 2023. The scenario in India is very similar to the one in the United States.Enterprise security and risk management investment in India is predicted to expand 9.5% from 2023 to US$2.08 billion in 2023. The need for cybersecurity goods will continue to rise for a variety of reasons. Companies that provide such items will see their stock values rise as a result of this.Organizations are more exposed to cyber dangers than ever before as remote working arrangements become increasingly common. Employees rely on their gadgets and home networks in remote work setups. These don’t have the same level of security as a corporate setting. As a result, they create a weak point in a business network’s chúng tôi risk is becoming more widely recognized among tech-savvy customers. This is particularly true as our lives become increasingly electronically linked, with anything from sensors to 5G. Consumers are wary of digital businesses and criminal actors probing into their personal lives.Organizations are being severely harmed by ransomware and other sophisticated assaults. Ransomware assaults have wreaked havoc on India. According to research, India experienced the greatest number of weekly assaults per organization (213) in the first few months of 2023.– Quick Heal, one of the top cyber security product and solution providers, offers a spectrum of cloud-based security and machine-learning-based solutions to keep threats and harmful traffic at bay. It now has a 30% retail market share and plans to expand further through deeper penetration into tier-I and tier-II cities. The enterprise division generates 18% of the company’s sales. The firm had a solid quarter in FY2023, with sales rising 63.9% year on year to Rs 105 crore.– SecureKloud is a cloud-native company that provides enterprise security solutions, services, and platforms. The firm offers a proprietary identity and access management system that, among other things, can assist enterprises with security, access control, governance, scalability and full identity life cycle management. The company’s software, Cloud Authmulti-factor authentication, secures a range of business applications by confirming unique identities in seconds. As of October 21, 2023, the company’s stock price has increased by more than 100% YTD. Cybertech Systems – Enterprises may use the company’s risk intelligence products, which include tactics for predicting risk and minimizing harm. Companies get real-time incident reporting, asset danger visualization, and in-depth analysis of global changes that might affect their operations and staff. In Q1 2023, the company’s net profit increased by 382.7% to Rs 2.80 crore, a significant increase from the Rs 0.58 crore in Q1 2023.– The world’s largest corporations use RS Software’s specialized e-payment systems. The prevention of fraudulent digital payments transactions is one of the company’s main services. It may create predictive fraud models based on client data, resulting in a common fraud detection model. In addition, the organization provides consulting services on worldwide regulatory compliance in payment mechanisms. It is now valued at Rs 85.74 crore on the stock market. The firm earned Rs 375.98 crore in total revenue and Rs 353.8 crore in gross sales in the third quarter of 2023. India is unquestionably at a critical juncture in its economic recovery. As India moves on with fast digital transformation to establish resilience against pandemic-like catastrophes, cyber resiliency will be critical. As a result, the industry may provide significant investment potential.
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