Singapore: Regulation covering digitalization has insignificant effect on insurers
Insurers in Singapore reported a decrease in sales during the beginning of the pandemic. A survey showed that customers prefer to purchase insurance through face-to-face channels, which is identified as a contributing factor to the decline in sales. Moreover, the barriers experienced by insurers include insurance distribution regulation, medical exam requirements, and data protection and privacy […]
HSBC launches fund admin service in Thailand
HSBC launches a fund administration service for asset managers and owners after Thailand has loosened its outsourcing rules. This is an effort by the Thai Securities and Exchanges Commission to improve operational efficiency for local fund managers. HSBC clients in Thailand will now be able to access fund admin services via its Multifonds platform which is also […]
YASH Technologies partners with SOLTIUS Indonesia
Leading technology integrator YASH Technologies partners with Soltius Indonesia, an SAP Platinum Partner and highly regarded IT business solutions provider in the country. The partnership would enable the two companies to jointly deliver SAP Digital Supply Chain (DSC) solutions and services to businesses in the region. Focus areas include Integrated Business Planning (IBP), Integrated Asset Management (IAM), Digital RCM, Industry […]
Accenture raises revenue growth guidance for fiscal 2021
Accenture’s revenue growth outlook in Q3, fiscal ending August 2021, rose to 6.5-8.5%, while on Q4 it declined to 4-6% which in dollar terms was still an 8% year-on-year growth. Moreover, the IT consulting company’s net income grew 16.8% year-on-year with new bookings amounting to $16 billion split equally between consulting and outsourcing. Accenture announced a one-time bonus […]
AI-Powered Bots: A Growing Threat to Global Call Center Industry
The pandemic has prompted businesses to adopt automation. Prior to the outbreak the use of chat and AI bots was at less than 10% of the time. This has increased to 25% and could grow to 35% by the end of the year. This shift to employing AI Bots threatens outsourcing companies like those based […]
India’s Tech Mahindra Acquires Majority Stake In Perigord Asset Holdings Limited
Tech Mahindra announced that it has acquired 70% stake in Perigord Asset Holdings Limited. Tech Mahindra is a solutions provider of digital transformation, consulting, and business re-engineering services. The acquisition of Perigord, a digital workflow and artwork, labeling, and BPO services firm, will help Tech Mahindra expand its expertise in the global pharmaceutical, healthcare, and life science sectors.
Juwai IQI to develop technology hub in Malaysia in Q1’22
Plans for the development of a technology hub in Malaysia by real estate technology group Juwai IQI are in place. This project is in line with the government’s MyDIGITAL initiative which targets to acquire RM70 billion worth of investment in digitalization by 2025. The hub will be built at the Millerz Square in Kuala Lumpur.
Malaysia and Huawei open Southeast Asia’s first cybersecurity center to support 5G growth
Malaysia partners with Huawei as part of move to be a leader in cybersecurity in Southeast Asia and upgrade its workers’ technical skills. This collaboration between the country’s digital security agency Cybersecurity Malaysia, Huawei, large telecom company Celcom Axiata will create the first cybersecurity lab in the region. The move is in line with Malaysia’s […]
Foreign Digital Companies in Thailand soon to pay 7% VAT under Revenue Code Amendment Act (No. 53) B.E 2564
The amendments to the Revenue Code approved by the Thai Cabinet in June 2020 are expected to take effect in September 2021. This means foreign businesses providing digital services in the country that earns more than $57,500 a year will soon be required to pay 7% VAT. This is applicable to service providers in e-commerce platforms, gaming, […]
India’s IT sector sees constant rise in hiring in January
India’s IT sector have seen a remarkable growth in recruitment in metro cities such as Bengaluru, Hyderabad, Pune, and Delhi, an equivalent of more than 50% jobs in the sector in January 2021. Job posting increased by 39% compared to the previous month. Next to the IT sector are BPO with 10% growth and banking with […]
