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Flipkart Enters Strategic Alliance with Google Cloud to Advance Innovation in a Digital-first Future

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Flipkart Enters Strategic Alliance with Google Cloud to Advance Innovation in a Digital-first Future

Google Cloud and Flipkart, India’s homegrown consumer internet ecosystem, have entered into a multi-year strategic partnership to help fast-track Flipkart’s innovation and cloud strategy. This partnership will propel Flipkart into its next phase of growth and advance its vision of onboarding India’s next 200 million shoppers and lakhs of sellers.

Working together, Google Cloud will help Flipkart:

  • Scale on Google Cloud’s infrastructure to reach more Flipkart customers — By leveraging Google Cloud’s secure and scalable global infrastructure and advanced networking technologies, Flipkart will be able to deliver robust app access and performance even during peak purchase seasons with heightened traffic. Flipkart will also continue to advance the pace of new product development by building on Google Cloud, furthering its expansion into Tier 2 and Tier 3 markets in India.
  • Accelerate data-led innovation to unlock customer insights — Flipkart will make its data platform more efficient by deploying Google Cloud’s advanced data analytics and machine learning technologies. This will enable the company to better analyze traffic and transactional data, unlock rich real-time insights into customer purchasing and shopping behavior,  identify trends and patterns with increased demand and create more personalized recommendations to enrich customer experience.
  • Advancing productivity and collaboration globally with Google Workspace — As a long time Google Workspace customer, Flipkart will expand its use of the flexible, innovative solution across its rapidly growing workforce to create innovative human-centered employee experiences and deepen connections in this new hybrid work environment.

Jeyandran Venugopal, Chief Product and Technology Officer, Flipkart said, “Our strategic alliance with Google Cloud will enable us to accelerate our digital transformation, power productivity and advance our innovation agenda. We are excited by Google Cloud’s unique strengths and experience in AI/ML and its proven scalability and security, all of which will be critical in our next phase of growth.”

“Flipkart’s growth in India has been powered by its digital-first strategy and forward thinking approach to cloud technology. As the company continues to scale and grow its ecommerce platform, we will work together to drive technological innovations and help Flipkart drive breakthrough businesses in the future,” said Bikram Singh Bedi, Managing Director,  Google Cloud India.

About Google Cloud

Google Cloud accelerates every organization’s ability to digitally transform its business. We deliver enterprise-grade solutions that leverage Google’s cutting-edge technology – all on the cleanest cloud in the industry. Customers in more than 200 countries and territories turn to Google Cloud as their trusted partner to enable growth and solve their most critical business problems.

About the Flipkart Group

The Flipkart Group is one of India’s leading digital commerce entities and includes group companies Flipkart, Myntra, Flipkart Wholesale, Flipkart Health+ and Cleartrip. The Group is also a majority shareholder in PhonePe, one of the leading Payments Apps in India.

Started in 2007, Flipkart has enabled millions of consumers, sellers, merchants, and small businesses to be a part of India’s digital commerce revolution, with a registered customer base of more than 400 million, offering over 150 million products across 80+ categories. Our efforts to democratize commerce in India, drive access and affordability, delight customers, create lakhs of jobs in the ecosystem, and empower generations of entrepreneurs and MSMEs have inspired us to innovate on many industry firsts. Flipkart is known for pioneering services such as Cash on Delivery, No Cost EMI and easy returns – customer-centric innovations have made online shopping more accessible and affordable for millions of Indians. Together with its group companies, Flipkart is committed to transforming commerce in India through technology.

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NowCM opens its main developer hub in Portugal

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NowCM opens its main developer hub in Portugal

By doing so NowCM joins the vibrant Portuguese tech scene of established and new players. This further strengthens the position of NowCM as the leading European primary capital markets service provider.

“Now is the time! It was the right choice at the right time”- says CEO and Founder, Robert Koller.

As the world’s first fully compliant and cloud-native transaction management platform and regulated primary marketplace, NowCM opens its third European office in sunny Portugal.

The decision to choose Portugal as a new location was based on a list of comprehensive criteria of key cultural and growth factors, including availability of top talent, fintech ecosystem, regulation, entrepreneurial mindset, and work-life balance.

Robert adds: “We are solution-seekers and bold builders of the future of finance. Our fast-growing team consists of 40 diverse individuals amongst which are 20 in-house IT experts whose skills we are very proud of. We value our people and their time by offering them a state-of-the-art tech tooling arena and meaningful responsibility in helping to shape the global financial future rather than burning energy on daily repetitive manual tasks in a square city office space. NowCM is a catalyst in the digitisation of primary markets beyond process automation. Our concept shows the intelligence of focusing on live execution of important transactions rather than on out-dated Excel and Word processes.”

Portugal with its good weather and one of the best life quality indexes for expats (according to InterNations, Expat Insider 2022) is a perfect location for NowCM’s strategic expansion. NowCM new office is located in Lagoas Business Park, where global tech companies like Google, Samsung, Dell and Cisco among others are based.

NowCM Tron-style office design features sustainable solutions like indoor farms and game-changing futuristic experiences to create a new safe, productive and enjoyable place to work in creative and smart ways. It will serve as a hub for employees as well as a location for client training programmes.

“After COVID-19 the office experience won’t remain as it was before the pandemic. In NowCM we know that virtual collaborations are working well, however we believe there should be a new era of tech spaces to meet and ask important questions, to develop collaboration, productivity, culture, and work experiences” – says Robert.

Last week NowCM welcomed its global team in their new office in Lagoas Business Park and held an opening event for its team and family members together with business partners, clients and journalists. A big surprise during the event was a drone race (organised by NowCM partners www.dronesnco.com), where everyone could support one of the pilots and explore the NowCM office from a different angle.

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Safenetpay changes its name to Moneff

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Safenetpay changes its name to Moneff

Safenetpay announced its rebrand and name change to Moneff. The rationale behind the new name has been to more closely reflect the change in Moneff’s proposition from a pure payments company to an expanded portfolio of streamlined and efficient services to support SMEs.

SMEs and entrepreneurs need easy-to-access solutions that manage their money. Despite SMEs making up 99% of all registered businesses in the UK, high street banks and mainstream lenders continually overlook or reject entrepreneurs, and charge extortionately high rates for business accounts and cross-border transfers.

Moneff helps small businesses move their money more efficiently by providing a one-stop hub for free* multi-currency business accounts, transfers with competitive FX rates, card issuing and online payment processing services. By creating a global financial infrastructure using innovative API-led cloud technology and leveraging strategic partnerships, Moneff aims to create a fairer and more progressive financial ecosystem for the 22.6 million small and medium-sized enterprises (SMEs) across the UK and EU.

“We felt it was necessary to change the name of the company to more accurately reflect our offering of helping small businesses manage their money efficiently,” said Sanjar Mavlyanov, CEO and founder of Moneff.

“We want our customers to be focused on improving their business, rather than being distracted by dealing with multiple vendors. That’s why we are building an ecosystem of business tools that helps companies grow and save them money” added Dilshod Mikhmanov, Moneff’s Co-founder and CFO.

By providing small businesses with free*, borderless and frictionless e-money accounts, Moneff is democratising the customer experience by putting their needs first and offering a true money solutions alternative for businesses of all types. Moneff prides itself in providing high levels of customer service, and is always seeking to refine and develop our business practices to achieve best results for its clients.

* Subject to eligibility criteria.

ABOUT MONEFF

Moneff is the one-stop hub for small business owners. We enable SMEs and sole traders to move their money efficiently by offering free multi-currency business accounts (subject to eligibility), transfers with competitive FX rates, card issuing and online payment processing services.

Previously known as Safenetpay, Moneff (now a trading name of Safenetpay Services Company Ltd) was founded in 2016 and headquartered in London. Moneff is authorised as an Authorised Electronic Money Institution by the United Kingdom Financial Conduct Authority (FCA), and has been granted an EMI (Electronic Money Institution) licence by the Danish Financial Supervisory Authority.

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Singapore holds lead position in Omdia Fiber Development Index

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Singapore holds lead position in Omdia Fiber Development Index

Singapore has again emerged as leader in Omdia’s Global Fiber Development 2022 Index, with maximum scores in seven of the nine metrics. It is closely followed by South Korea, China, the UAE, Qatar, and Japan. All territories in the leading cluster benefit from strong national broadband plans with ambitious targets around ultra-high-speed services.

Historically, several otherwise highly developed broadband territories that rank lower in the fiber index tended to suffer from less clear or ambitious national plans, providing weaker incentives for operators to invest. However, due in part to the COVID-19 crisis demonstrating how important broadband networks are, governments are now strengthening their broadband targets and increasing their focus and investments in fiber-based infrastructure.

Research Director Michael Philpott said: “Fiber investment is an essential metric for government institutions and other stakeholders to track. As a broadband-access technology, optical fiber provides an optimized, highly sustainable, and future-proof quality service. This superior level of quality is essential for the development of future digital services and applications across all verticals.

“With increased efficiency stimulating greater innovation, high-speed broadband has been proven to drive not just consumer satisfaction but national economic indicators such as GDP and productivity. Only by maximizing investment in next-generation access can countries optimize their growth potential, and fiber-optic technology is key to that investment.”

Omdia’s Fiber Development Index tracks and benchmarks fiber a broad set of fiber investment metrics across 88 countries, including:

  • Fiber to the premises coverage
  • Fiber to the household penetration
  • Fiber to the business penetration
  • Mobile cell site fiber penetration
  • Advanced WDM technology investment

Based on Omdia’s analysis of Ookla Speedtest data, the Index also quantifies the overall broadband quality of experience improvements driven by that investment, namely:

  • Median download speed
  • Median upload speed
  • Median latency
  • Median jitter

Michael Philpott and a team of Omdia analysts will be presenting and debating a wide range of upcoming telecoms issues and trends at Network X between 18-20 October 2022. Register for a media pass or request a virtual briefing here.

ABOUT OMDIA

Omdia, part of Informa Tech, is a technology research and advisory group. Our deep knowledge of tech markets combined with our actionable insights empower organizations to make smart growth decisions.

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