Since entering the Indian market in 2019, Avaloq has built a robust presence in Pune, growing to over 170 employees across project delivery, product development, banking operations, cloud technology, and corporate services. As a key orchestrator in the financial ecosystem, Avaloq welcomed leading banks, wealth management firms, and fintech companies to explore the trends driving innovation in the industry. Attendees included representatives from NatWest, HSBC, Barclays, Deutsche Bank, DBS, Accenture, Infosys, HCLTech, Synpulse, TecFinics, and Tech Mahindra.

The event provided a platform for insightful discussions on critical advancements shaping the wealth management sector, with a focus on cloud transformation, strategic partnerships, and enhancing operational efficiency. Key topics covered included:

• India’s growing wealth and investment needs

India’s financial wealth is projected to grow significantly. This is mostly driven by economic expansion, rising affluence, and increasing demand for professional financial advice. Avaloq showcased its wealth management and private banking solutions, emphasizing how digitalization can support the growing demand of India’s affluent population. The discussions highlighted India’s readiness for more sophisticated investment solutions and the role of technology in meeting these needs.

• Cloud transformation

Cloud technology is revolutionizing the wealth management industry. The adoption of cloud solutions is enabling financial institutions to enhance operational efficiency and scalability, crucial for meeting the evolving expectations of investors.

• Artificial intelligence

The collaboration with NEC Corporation drives controlled innovation in AI, focusing on responsible and transparent use. AI is transforming the wealth management industry by enhancing operational efficiency and providing personalized client experiences. AI-driven tools can analyze vast amounts of data to offer tailored financial advice and automate routine tasks, allowing experts to focus on more complex issues.

• Enhancing operational efficiency

Various strategies to improve operational efficiency were explored, including the consolidation of technology systems Various strategies to improve operational efficiency include the consolidation of technology systems into a single platform with harmonized data. This approach helps financial institutions reduce costs and streamline processes. Operational efficiency is critical for maintaining competitiveness, especially as firms face increasing regulatory pressures and the need to deliver high-quality client service.

• Integration capabilities

As financial institutions expand their service offerings, especially in growth markets, they often rely on a complex ecosystem of point solutions to meet evolving client needs. However, managing multiple disparate systems can lead to inefficiencies and higher operational costs over time. Avaloq emphasized the importance of consolidating technology systems in a single platform with harmonized data for enhanced operational efficiency and long-term scalability.

Anirban Mukherjee, Managing Director for India at Avaloq, commented: “India’s financial landscape is undergoing a dramatic transformation, and within this dynamic environment, Avaloq, a specialist in wealth management and private banking solutions, is poised to carve a significant niche. While the nation’s focus often gravitates towards the mass-market digital banking revolution, a quieter yet equally potent shift is occurring: the rapid expansion of India’s affluent population. As India’s wealth accumulates, the demand for personalized, robust, and technologically advanced wealth management platforms will inevitably surge. Our goal at Avaloq is to help financial institutions address the specific wealth management needs of these new investors.”

Reflecting on the event, Pascal Wengi, Managing Director for Region International at Avaloq, stated: “India’s wealth management industry is evolving rapidly, driven by economic growth, rising affluence, and increasing demand for professional financial advice. Our first Avaloq India Community Connect event in Pune provided a valuable forum for industry leaders in Pune to discuss key trends and strategies to improve client service and scale operations efficiently. As the market develops, technology will be a key factor in enabling firms to offer seamless, personalized, and efficient wealth management services. With 40 years of experience in wealth management technology, we look forward to supporting financial institutions in establishing and expanding their specialized wealth management services to better meet the needs of affluent investors in India.”

Avaloq India Community Connect discussed the challenges posed by fragmented technology ecosystems and highlighted the importance of integrated platforms that support both front and back-office functions. As India’s wealth management industry becomes more sophisticated, a harmonized, scalable approach to technology will be essential to help the country’s banks and wealth managers address investors’ evolving expectations.

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In the morning of September 19th, a delegate group of 70 individuals will attend a White House Briefing to discuss issues concerning our diverse communities, followed by a White House tour for 100 Summit attendees. In the afternoon, representatives of the DOJ will meet and listen to our community voices at the Crowne Plaza Hotel which will be followed immediately by a youth session discussing racial bias in school and cross-cultural identities. 

During the Unity Summit on September 20th, the AAUC will advocate for various causes such as racial discrimination, civil rights, hate crime prevention, immigration, and Asian American history education. GOPIO had suggested taking up the legislative issue of legal immigration backlog (Green Card) which has put 1.2 million Indian applicants on the waiting list, at the current level may take as many as 100 years to get a visa number until and unless the immigration rules are changed to remove the discriminatory rules towards Indian applicants and also the Chinese and Filipino applicants. There are two bipartisan bills in Congress (HR-6543 and S-3269) that could reduce this long waiting period. These bills are included in the AAUC Summit agenda.

The summit will also mark the launch of the mobile-responsive online AAPI Community Hub. During the press conference on September 20th, the AAUC will present its resolution on the Alien Land Laws. Additionally, the AAUC will also highlight the power of the online AAPI Community Hub.

Several distinguished individuals will be recognized for their contributions during the summit:

• US Rep. Judy Chu will receive the Political Leadership Award.
• US Rep. Andy Kim will receive the Public Service Award.
• Suffolk County Police Asian Jade Society, SEWA-AIFW, Team Aids, and Elizabeth de Leon-Gamboa will be honored with the Community Service Award.
• Mr. Evan Chen will be recognized as Philanthropist of the Year.
• Ms. JencyMalena Mesik and Mr. Suraj Kulkarni will receive the President’s Young Person and Youth Awards, respectively.

The AAUC Unity Summit registration is now closed. Attendees from across the country representing diverse AAPI ethnicities and age groups will have networking opportunities with leaders from multicultural ethnic groups through in-person interactions.

The AAUC has made significant contributions to the AAPI community by organizing national conferences, assembling a diverse working board, developing monthly newsletters and podcasts, and creating an online hub that connects over 15,000 AAPI nonprofits across all 50 states. To learn more about the conference agenda, visit https://www.asamunitycoalition.org/2024-unity-summit/.  

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MUMBAI: Mastercard announced a collaboration with Gramophone, a leading agritech platform, to enable 2 million smallholder farmers on the Mastercard Community Pass platform in India with access to agri inputs. The two entities will work towards powering offline payments for farmers in rural and remote areas through the Community Pass financial inclusion card. Gramophone is also expected to enable their existing five lac farmers with offline payments and credit.

Community Pass provides a digital ecosystem for buyers who are looking for sustainable sources of quality produce at favorable market prices and supply chain financing; and for smallholder farmers looking for reliable markets, fair prices, and access to credit. The platform brings together various agri-sector stakeholders in a centralized agricultural marketplace, amplifying the collective positive impact on farming communities. Community Pass services also include an offline payment card and input credit that will be rolled out in the coming months.

This collaboration with Gramophone will ensure that farmers can buy the right inputs at a fair price. The service will be rolled out later this year, starting with inputs and offline payments, while access to credit will be launched early next year. In addition, Gramophone plans to roll out innovative loyalty/cash-back schemes for its members via the offline-enabled card. Through this collaboration, Gramophone also seeks to enable easier access to working capital for their farmer-producer organizations and small retailers for driving inputs and scaling business.

“In line with the Government of India’s vision to digitize the agriculture sector, Mastercard has been working to bring key stakeholders in the agri ecosystem onto one platform to ease credit and input access for farmers and enhance their incomes. This collaboration with Gramophone will ensure that farmers can access quality inputs of their choice, on easy credit terms, as well as the benefits of digital payments even without internet connectivity or smartphone availability,” said Ricardo Pareja, Head of Community Pass Markets, Mastercard.

“At Gramophone, we have consistently delivered top-tier agronomy advisory and quality products through our, in-house technology platform enabling Input Commerce. Now, we are excited to add Mastercard’s advanced technology stack and partner networks to further enhance India’s agricultural ecosystem. Starting with a pilot in Madhya Pradesh, we will aim to support farmers across India by increasing their incomes by 50-60%, through access to inputs and credit,” said Tauseef Khan, Co-founder, of Gramophone.

Mastercard Community Pass is a shared, interoperable digital infrastructure for rural populations that has benefitted over 2 million Indian farmers across 25 districts in eight states, to date. 

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The evening started with a red carpet welcome for all the guests, with a vast backdrop featuring the Mandir logo set up at the entrance. The program formally began with an auspicious Diya Lighting Ceremony, amidst chanting of mantras by the Mandir priests. The entertainment programs included classical dance, Bollywood singing, Rajasthani folk dance, and Punjabi Giddha, among others. The star singers of the evening were Pratibha Jairath and Dr. Pradeep Sood, who enthralled the audiences with their melodious songs.

Anil Saxena, Chairman of Fundraising, outlined the purpose of the evening and gave a brief update on the ongoing project from 2022 – Hanuman Murti. He shared the progress made on the project from last year and the remaining funds required for completion. Vipan Wadhera, President of the Executive Board, emphasized the significance of the temples today as a source of preserving our roots of Indian spirituality, values, heritage, and culture.

The fun-filled evening concluded with a sumptuous dinner and open dance floor, with the President thanking all the donors and announcing the success of the evening target collection. The event was a grand success, with the target collection achieved, and a big thank you to all for attending.

The annual fundraiser dinner hosted by Hari Om Mandir was a grand success, with patrons, founder members, devotees, and community leaders coming together to raise funds for community services, growth, and future expansion projects. The event was a showcase of Indian culture and spirituality, with a variety of entertainment programs and a sumptuous dinner.

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The highlight of the event was the honoring of heroes for their immense bravery, dedication, and service to the community. Among the veterans and law enforcement officers honored were Mr. Raj Pillai, US Navy Veteran, Mr. James Mendrick, DuPage County Sheriff, Mr. Kevin Coyne, Founder and CEO of Safe Suburbs USA, Mr. Mike Geiger, Naperville Police Officer, Mr. James “Casta” Castaneda, US Marines Veteran, Mr. Michael Tellerino, Founder and CEO of K9’s for Veterans, and Mr. Jerome “Sonny” Zdancewicz, US Army Veteran (7th Cavalry Regiment).

The event was graced by dignitaries from the Chicagoland area, including Consul Mr. Vinod Gautam, Dr. Gopal Lalmalani, FIA Founder/President Mr. Sunil Shah, Vandana Jhingan Ji, Mrs. Meghna Bansal -Trustee, Wheatland Township, Mr. Ajit Pant, Mr. Rakesh Malhotra, Mrs. Madhu Uppal, Mr. Haribhai Patel Ji, Dr. Umang Patel Ji, and Mrs. Neel Patel-Assistant Director, Ray Graham Association.

The event also featured mesmerizing performances by Udaan Entertainment from Mumbai, whose orchestral performance was beyond excellence and touched everyone’s heart. The evening started with the Indian and American National Anthems sung by Nipa Shah and Samaira Bongale, followed by colorful cultural performances by children paying respect to both countries and cultures.

The program ended with a vote of thanks by Treasurer Richa Pal, thanking all the sponsors and donors who supported IACA’s mission in the community. The evening wrapped up by expressing gratitude to the community for their continued support.

In conclusion, the IACA Gala Event was a celebration of cultural pride and diversity, honoring heroes for their immense bravery, dedication, and service to the community. The event also marked the formation of the Youth IACA Club, aimed at educating children about Indian and American cultures and involving them in volunteering services in the community.

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CHICAGO, IL: The Islamic Society of North America (ISNA) is thrilled to announce the 60th Annual ISNA Convention, on September 1-4, 2023, at the Donald E. Stephens Convention Center in Rosemont, Illinois. This year’s convention promises to be a historic event as we celebrate six decades of service to the Muslim community and broader society.

Over the years, ISNA conventions have provided a broad platform for the biggest and brightest stars in the Muslim community. Prominent Muslim leaders, government officials, community activists, celebrities, guests from the interfaith community, and heads of state have been featured in past conventions. Our ability to gather some of the foremost names in the North American landscape is a testament to ISNA’s reach and historical impact over the years. And we are proud and honored to celebrate this legacy at this year’s annual convention.

With the theme “60 Years of Service: Navigating the Way Forward,” we believe it is a beautiful and timely expression of the strides we have made and how far we have come as an organization. For decades, ISNA has fostered the development of the Muslim community and greater society. It has been a national leader in advancing interfaith dialogue and civic engagement and has played a pivotal role in shaping the national conversation around Islam by promoting a better understanding of Muslims in America.

Still today, we offer a variety of programs and services, such as our annual convention, which has served as a forum for Muslims and people of all backgrounds to learn from one another, network, and enhance their appreciation of Islam and the ongoing efforts and achievements of Muslims in America and around the world.

That is why we are thrilled and delighted to return to Rosemont, Illinois, this year for the 60th Annual ISNA Convention. We look forward, once again, to welcoming thousands of attendees for what promises to be one of our most exciting and celebratory events in recent years. With nationally and internationally acclaimed guests, special events, entertainment sessions, and a dynamic expo featuring hundreds of Muslim businesses, the 60th Annual ISNA Convention is sure to be one of the most historic and memorable events in ISNA history.

Please mark your calendars for the 60th Annual ISNA Convention in Rosemont, Illinois, on September 1-4, 2023. We hope you will join us as we celebrate the past, embrace the present, and inspire the next generation of leaders and change-makers in America!

About ISNA: The Islamic Society of North America was founded in 1963. Its mission is to foster the development of the Muslim community, interfaith relations, civic engagement, and a better understanding of Islam.

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U.S. Consul General Mike Hankey said, “The U.S. Government is proud to support TransFormation, where anyone – regardless of how they identify – can access salon services in a safe and inclusive environment for all guests. We recognize and celebrate the important contributions of transgender, nonbinary, and gender nonconforming people and take pride in supporting improved health outcomes through innovative models that mobilize communities to take charge of their financial and physical health.”

USAID/India Deputy Mission Director Karen Klimowski said, “Using USAID’s principle ‘Do nothing about them without them’ as a guide, we are happy to share that members of the transgender community were directly involved in designing and establishing TransFormation, which is a priority for USAID as we prioritize locally-led and inclusive development. The salon will not only serve the community but enhance career and entrepreneurship opportunities for the local transgender community.”

Neeta Kene, Chairperson, Kinnar Asmita, a community-based organization, that set up and will operate TransFormation, said, “This initiative is a strong message to the society that Transgender Persons with the right kind of skilling and support can effectively mainstream themselves. For us this is not only an initiative on livelihoods, it is on dignity, self-worth, and progress. We are thrilled to start this initiative and we need the support of the mainstream to make it a roaring success both socially and financially.”

The International Transgender Day of Visibility is an annual celebration and recognition of the contributions of transgender people around the world.  On this day and every day, the U.S. Government honors transgender people who are fighting for freedom, equality, dignity, and respect.  The TransFormation Salon was established with support from USAID and the U.S. President’s Emergency Plan For AIDS Relief (PEPFAR), in partnership with FHI 360 and the Humsafar Trust. As the United States marks the 20th anniversary of PEPFAR, today’s launch is a continuation of the U.S. Government’s commitment to ending the inequities and service gaps that still stand in the way of progress.

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