Business

Bajaj Finserv ties up with Wochit - a First in BFSI

Mumbai : Bajaj Finserv, through with lending arm Bajaj Finance Ltd., has announced collaboration with Wochit- a US-Israel based video automation company - to meet its ambitious goal of making video as the primary format of stimulation across its stakeholder sets. With Wochit's predictive video creation platform and distribution channels, Bajaj Finserv will bring stories to life, at scale and speed, cutting down video turn-around time to less than 30 minutes and at 1/10th the cost.
Video consumption in India has increased 5X between 2016 and 2017, with smaller cities registering up to 22X growth. In the first-of-its-kind initiative, Bajaj Finserv will take its first step towards leveraging the remarkable growth in online video consumption and lead video adoption amongst BFSI players in India.
"Wochit is the first building block in our journey of creating video as the primary format of stimulation and communication across our stakeholder sets. We will add many other pieces of technology to create a powerful story-telling tool that leverages both creativity and automation to deliver impact for business," said ManevMianwal, Group Marketing Head, Bajaj Finserv on the partnership.
DrorGinzberg, Founder and CEO, Wochit, said, "We are pleased to announce our partnership with Bajaj Finance that complements their existing production capabilities. Our service will empower Bajaj Finserv to churn out over 2000 videos a year through our partly automated digital capabilities with minimum human intervention."
Wochit's Do-It-Yourself (DIY) platform has a library of 100 million licensed, ready-to-use stock assets such as images, video clips, and sounds which can be easily stitched together to create a quality video at scale. Bajaj Finance had recently run a demo workshop to democratize the capability across businesses and functions, driving adoption and usage.
Wochit analyzes the text of an article and automatically finds licensed photos, videos and graphics that can be used to build a video around that story. Publishers can quickly edit the video and add things like background music and voiceover.

Viral Acharya quits as RBI Deputy Governor, 6 months before his term ends

Reserve Bank of India Deputy Governor Viral Acharya has resigned six months before the scheduled end of his term, sources said Monday. He was in charg...

India's leading e-tailer Flipkart, co-founder sells part stake to Walmart for 531 crore

Binny Bansal, the co-founder of India's leading e-tailer Flipkart, sold around 54 lakh of his equity shares valued at $76 million (Rs 531 crore) to wo...

Rupee opened flat at 69.58 vs US dollar in early trade

The rupee opened on a flat note at 69.58 against the US dollar in opening trade on Monday amid rising crude oil prices and foreign fund outflows.Forex...

Sensex, Nifty start on a cautious note

Domestic equity benchmarks BSE Sensex and NSE Nifty started on a cautious note on Monday amid weak cues from other Asian markets and rising crude pric...