Business leaders and Technology experts discuss future technology trends impacting the BFSI sector
Map The Future Dialogue
MapmyIndia in association with TechGig hosted an exclusive ‘Boardroom Dialogue’ on 10th May 2018 at Times House in Mumbai. The event witnessed the industry thought leadership from leading banks, insurance & financial to discuss the critical importance of location intelligence in the BFSI domain. MapmyIndia was pleased to welcome senior executives from leading companies at, “Map the Future” dialogue, focused on Banking, Financial Services, and Insurance.
“Why location matters in BFSI sector” Have banking services become commodities due to growing competition with the requirements of the customer going diverse. The session deliberated on how location is envisioned in the BFSI growth story. ‘Costs, Privacy, Customer Analytics, Risk & Use of Artificial Intelligence” dominated this boardroom discussion.
Location is important to build data layer. Overlaying market potential on current transaction data will help to identify top markets for penetration. Companies in the BFSI sector are investing heavily in Financial Technologies (Fintech) and the addition of location layer is becoming critical, especially for banks, to track the consumer footprints. Shivalik Prasad, Executive Director, MapmyIndia stressed on the transformation of banking sector — automation, digitization and visualization rendering obsolete, the concept of traditional banking from i.e. checkbooks to RTGS and online.
“It is essential to adopt new technologies to understand your users and deep dive to build customer intelligence data. Using artificial intelligence along with geotagging to know customer intent will help develop authentic consumer profiles”.
Geo analytics as a part of location technology is useful for Market penetration and Gap analysis. It helps executives to identify and validate the potential of new market opportunities, current position, success capabilities and investment criteria for a new product or service launch. Insights into customer transactions and behavior help to create customer profiles and are useful in planning and risk mitigation. “Understanding location-based transactions for lending are becoming important for credit models.
MapmyIndia is providing the location layer to bridge the gap between the physical and the digital world. With the government push, the trends in Indian banking and financial sector are increasing exponentially. Marrying the customer information data with banking will offer data based on location intelligence and that would bring in the intelligent use of location in workflows and processes with artificial intelligence. This hybrid data, thus collected, would be the best indicator of growth in the financial sector.
Tokyo, Japan, and New Delhi, India, May 21, 2018
MapmyIndia is happy to announce its partnership with NTT DATA Corporation (TOKYO: 9613) a global IT solutions provider, to develop India’s first large-scale 3D map datasets, named AW3D India. The joint undertaking will deliver unrivaled digital-elevation datasets on a fast, cost-effective basis, combining NTT DATA’s expertise and international experience in mapping and 3D technologies with MapmyIndia’s two-plus decades of experience in mapping the Indian terrain.
Businesses and Government users will now be able to better leverage on the most accurate and comprehensive 3D maps of the country, which would make them even more competitive in domestic and international markets. These maps will also help the Indian government and its agencies to better plan and execute infrastructure development, resource allocation, disaster mitigation and prevention, and more.
The partnership is covered extensively by various print and digital media:
Taiwan News: https://www.taiwannews.com.tw/en/news/3436105
“Through our collaboration with MapmyIndia, we look forward to establishing a leading position in India’s 3D mapping market,” said NTT DATA Senior Vice President Shinichi Usui. “Building on MapmyIndia’s local strengths, we will offer 3D datasets that enable our Indian customers to develop sustainable and future-capable businesses. This will be an important step in NTT DATA’s plan to drive the global market for 3D mapping.”
“It has been our endeavor to make available to the Indian consumer the best of mapping and location technology,” said MapmyIndia Executive Director Shivalik Prasad. “I am happy that a leading company like NTT DATA has joined forces with us to develop AW3D maps for India, which are some of the best 3D map datasets in use across the world.
Coverage and Benefits
AW3D® is the world’s most precise, pre-produced global series of digital-elevation models covering all land spaces with five-meter resolution. AW3D also provides high-resolution 3D maps across the globe with up to 0.5m resolution. Users of AW3D India will benefit from up-to-date, highly detailed 3D datasets covering extensive areas of the Indian subcontinent. To develop AW3D India, NTT DATA’s 3D mapping algorithm will be combined with MapmyIndia’s advanced mapping technology. The datasets will be extremely useful for a wide variety of segments in the Indian economy, including telecom, automotive, construction, insurance, and government. AW3D for India’s 3D maps will enable users to make fast, informed decisions for undertakings such as 4G/5G network planning, navigation, insurance risk mitigation and smart city planning.
Headquartered in New Delhi (India’s capital) with offices across the country, MapmyIndia (C.E. Info Systems Pvt. Ltd.) was founded in 1995. The company is India’s leader in premium quality digital map data, APIs, GPS navigation, telematics, location-based SaaS and GIS Solutions.
With over 22 years of continuous efforts, MapmyIndia has pioneered the creation of digital maps in India – the most comprehensive, accurate, and continuously updated nationwide map dataset IP. The company has grown its prowess with cutting-edge location technology, specifically in the areas of Navigation, Tracking, IoT, and Analytics to provide products, services, and solutions to over 10 million end users – be it consumers, enterprises or the government.
MapmyIndia is focused on building a smarter and better future and packages its offerings to contribute to four broad themes – Smart Cars, Smart Businesses, Smart Governments, and Smart Consumers. We are proud to be a truly Indian company that is committed to generating employment for Indians. MapmyIndia endeavors to power the entire ecosystem with best-in-class maps and location, and to leapfrog India to the forefront of the digital world.
About NTT DATA Corporation
NTT DATA is a leading IT services provider and global innovation partner headquartered in Tokyo, with business operations in over 50 countries. Our emphasis is on long-term commitment, combining global reach with local intimacy to provide premier professional services varying from consulting and systems development to outsourcing. For more information, visit www.nttdata.com.
AW3D is the world’s most precise, pre-produced series of global digital-elevation models covering all land spaces with five-meter resolution. NTT DATA developed and sells AW3D jointly with the Remote Sensing Technology Center of Japan (RESTEC). To date, AW3D has been used in 500 projects and more than 70 countries, mainly in emerging markets countries of Asia and Africa for infrastructure development, disaster-prevention measures and much more. In May 2015, NTT DATA launched an enhanced service that offers high-definition and high-resolution (0.5- to two-meter) satellite images of buildings and other structures, including their heights, in a vector-map format. Please visit http://www.aw3d.jp/en/.
“AW3D” is a registered trademark of NTT DATA and RESTEC in Japan, and a registered trademark of NTT DATA in Europe (EUTM) and the United States.
MapmyIndia, with its power of maps & location based IoT solutions, is addressing the needs of organizations in the space of Journey Risk Management. The solution addresses in identifying locations & intensity of static & dynamic hazards, determining impacts & assessing associated risk scores of the routes as well as of the drivers. An increasing number of applications in the transportation industry rely on the availability of accurate high definition digital maps, describing the road network geometry with attributes such as; absolute height, slope, sharp turns, road width, speed limit, number of lanes,
stop sign, zebra crossing, traffic signal, blind turns & pedestrian. The role of spatial correlation further analyzes the spatial viability of emergency services offered for Journey Risk Management. Map identification of the accident-prone zones, hospitals, police stations, fuel stations etc. along the roadways using digital mapping helps with planning, response & recovery efforts, and situational awareness. The high definition map applications and getting information on telematics data from onboard sensors and IoT devices enhance spatial perception. Building rich 3D maps using HD map, Lidars & sensor data attributes, provide recognition and situation awareness to In-vehicle systems & drivers.
To build these High Definition 3D maps with Information about the road infrastructure and potential risks of driving on different routes as well as driver behaviors, MapmyIndia possesses the complete state-of-art technologies that include advanced car survey, Real-View Survey, IoT devices and smart mobile applications. Efforts to enhance road safety are based on the engineering and evaluation of road infrastructure where digital mapping plays a crucial role for safer roads.
Giving a reality check on what the risks are and how using high definition digital map applications address the challenges of the road journey, MapmyIndia participated on the panel of “Journey Risk Management in Roadsafety” at Federation of Indian Chambers of Commerce & Industry (FICCI) event “Role of Corporates in Road Safety” Rishin Kalra Senior Vice President, MapmyIndia, gave insights on the spatial perspective of the Journey risk management with future of high definition maps and telematics data as a part of its products & solutions would play a big role to mitigate road risks and serve the society at large
You will now be able to access local weather, extended forecasts & temperature information in real time, for any location Pan India. Adding to its list of awesome features, MapmyIndia, partners with The Weather Company (TWC) an IBM business, to integrate weather-related information on its mapping solutions. Shivalik Prasad, Executive Director MapmyIndia, during his press interaction informed “The weather information at hyper-local level and on real-time basis, will help customers make informed business decisions at faster pace. Accessed easily on web and mobile, the solution will enable higher profits and increased operational efficiency for customers”.
With MapmyIndia and TWC working together with highly accurate maps and timely weather predictions, preventive actions could be planned to save lives and prevent damage to national property caused due to unpredictable weather patterns. These “Precision Mapped Weather Forecasts” from MapmyIndia and TWC together, may help alleviate a lot of weather related issues in coming times.
MapmyIndia maps have been regularly used across government agencies. National Food Storage companies like Food Corporation of India would be able to use their exact digital storage locations on MMI maps and related weather forecasts to identify risk areas. They could then effectively protect their grain stores across the nation. Geo-fencing of areas, and looking at their weather data collated by TWC over years, would help predict rain weather conditions to save crops in states like Punjab.
Benefits of this “hand-shake” will accrue across various industries. Commenting on TWC’s partnerships, Himanshu Goyal says “Besides government, we are targeting sectors like automotive, sports, agriculture, logistics and disaster management,” during his interaction with The Economic Times
The collaboration has been published by the The Economic Times and PTI with inputs from Shivalik Prasad, Executive Director, Mapmylndia and Himanshu Goyal, India Sales and Alliance Leader, TWC
The Economic Times story was also covered in the Bangalore print edition of the paper.
The interaction with PTI was also covered across Business Standard; Business Today; India Today; Outlook India.
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