Paytm to offer insurance cover on wallet balance

New Delhi: Mobile wallet service Paytm plans to offer an insurance cover on the wallet balance. Paytm is in talks with leading insurance companies to provide insurance cover, under which the balance in Paytm wallets will be covered against fraudulent use, it said in a statement. “This insurance cover on Wallet balance will ensure that the user is covered should there be any misuse of the account. This cover will provide additional comfort and security to our millions of users,” Paytm Vice President Krishna Hegde said.

Wipro opens automotive engineering centre in Detroit * IT firm Wipro today said it has set up an Automotive Engineering Centre (AEC) in Detroit to drive innovation in connected vehicle concepts. The centre will work on design, product engineering, digital customer-vehicle experiences, artificial intelligence, and sensors-driven advanced vehicle data analytics.

The center will serve as a hub to support the automotive engineering and IT requirements of Original Equipment Manufacturers (OEMs) and tier-I suppliers, based in North America, Wipro said in a statement. Conduent appoints Lokesh Prasad as India CEO * Business process services provider Conduent today named Lokesh Prasad as the Chief Executive Officer of its India operations. Conduent launched earlier this year following a separation from Xerox Corporation.

In his role, Prasad will be responsible for further developing the USD 6.5 billion company s presence in India and growing the 10,000-employee workforce across six cities, including Bangalore, Kochi, Gurgaon, Noida, Indore and Chennai, the company said in a statement.

Cognizant to partner UK FSCSIT firm Cognizant today said the UK Financial Services Compensation Scheme (FSCS) has selected the company as its technology partner to help enhance customer experience using digital technologies.As part of a three-year agreement, Cognizant will help simplify, modernise and further secure a broad range of FSCS’ systems and applications to help meet the digital needs of customers, Cognizant said in a statement.

Flock to invest $25 mn to strengthen ops, adds more features * Enterprise messenger Flock today said it will invest USD 25 million to enhance product innovation and strengthen global presence.The added funding is in addition to the original investment of USD 20 million, Flock said in a statement.The company has expanded its presence in the US, Brazil, the UK, Russia, and Spain, with the addition of native language support in each location.