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BW Businessworld

Kaizen, Bertelsmann Invest In Educomp Subsidiary

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Educomp Solutions, India's largest education company, has signed an agreement with Kaizen Private Equity, India's first private equity fund focused on the education sector, and Bertelsmann, a global media company with interests in publishing, media and internet services, to raise investment in its subsidiary Authorgen, an e-tutoring and online education company.
 
Authorgen operates WizIQ.com, a popular web based platform for education service providers to teach live and online in an easy-to-use and free virtual classroom. Over 150,000 teachers and 2 million learners currently use WizIQ's e-learning services.
 
Under the agreement, Kaizen PE and Bertelsmann will invest INR 220 million into Authorgen. The funds will be used for growth capital and further upscaling the usage of the website.
 
Experian Service Ensures Accuracy For Financial Companies
India’s first CICRA licensed credit bureau Experian Credit Information Company launched an  address notification service(Experian Address Update), that provides the recent contact details of customers and an enhancement to the existing credit activity notification product triggers. It will enable Indian companies to maintain seamless contact with their customers and continuously retrieve the latest customer address details from a pool of different data providers.
 
Experian Address Update benefits credit and non-credit granting industries that require updated and accurate address information for account correspondence, collections and marketing solicitations.  The data comes from Experian’s extensive credit database which is updated daily from hundreds of financial institutions including leading Public sector, Private sector, Foreign, Co-operative, Regional banks and Non-banking Finance Companies.
 
"A mechanism to track the updated address for one's customers is a great tool for customer management," says Sumit Bali, Executive Vice President, Kotak Mahindra Bank.
 
Lakshmi Vilas Bank Receives RBI Nod For 71 Branches
RBI recently permitted Lakshmi Vilas bank to commence 71 more branches at metro, urban, semi-urban and rural centres. Currently, Lakshmi Vilas bank is serving a customer base of over 2 million through a network of 291 branches as on December 31, 2012. The bank also has 627 ATMs of its own.
 
“This new set of licenses to open 71 new branches will help the bank in expanding its reach substantially. The expanded network of branches will assist the bank in reaching out to newer demographics,” says KSR Anjaneyulu, MD & CEO (interim), Lakshmi Vilas Bank.