MAM
Evergent unveils cutting-edge monetization tools at IBC2023
Mumbai: Evergent, the customer lifecycle management and monetization leader for streaming and digital subscription businesses, will showcase its latest market-leading monetization solutions for global media, entertainment and telecommunications service providers at IBC2023, Hall 5, booth G80. The company empowers media organizations with flexible and user-friendly products that enable them to streamline customer management processes and maximize revenues.
Showcasing a new suite of AI-driven tools, Evergent will also demonstrate how companies can minimize churn and improve payment processes among their user bases. Additionally, it will also present a new suite of product features designed specifically for sports content providers.
“We’re thrilled to showcase our latest solutions that maximize monetization efforts for global media and entertainment companies at IBC2023,” said Evergent founder and CEO Vijay Sajja. “This year is particularly exciting for us as we will be announcing several advanced product features and highlighting key partnerships that deploy our innovative technology in new ways. We welcome our partners and customers to join us at the show.”
While attending the show, Evergent is inviting members of the press, customers, and other business partners to join them for product demos at the following partner locations:
- AWS in Hall 5, Booth C90, to discuss conversational AI and churn deflection
- MediaKind in Hall 1, Booth D25, to discuss monetization for OTT
- To the New in Hall 5, Booth H08, to discuss powering of E2E OTT services
- Mux in Hall 5, Booth H48 to discuss churn deflection
Brands
Reserve Bank of India cancels Paytm Payments Bank licence
Central bank cites compliance failures; curbs tighten as wind-up looms
MUMBAI: India’s banking watchdog delivered its sharpest blow yet to Paytm Payments Bank, cancelling its licence and effectively ending its ability to operate as a bank under the law.
The Reserve Bank of India said the entity can no longer conduct banking business under the Banking Regulation Act, citing concerns that its affairs were not being run in the interest of depositors or the public and that it had failed to meet licence conditions.
The move escalates a crackdown that has been building for months. The bank had already been barred from onboarding new customers since March 11, 2022, and later faced restrictions on deposits, credit and wallet top-ups. In January 2024, the central bank ordered it to stop accepting fresh deposits, pointing to persistent non-compliance, including lapses in customer due diligence, use of funds and technology systems.
Operationally, the bank is now on a tight leash. It may process withdrawals of existing deposits and facilitate loan referrals through banking correspondents, but it cannot take fresh deposits.
The central bank said it would apply to the high court to wind up the bank.
Paytm sought to ringfence the fallout. In a regulatory filing, it said the licence cancellation applies to Paytm Payments Bank Limited, a separate entity, and should not be attributed to One 97 Communications. It added that there is no exposure or material business arrangement with the bank and that it operates independently, without Paytm’s board or management involvement.
“As informed earlier, Paytm (One 97 Communications Limited) and its services, which have been operating without interruption, will continue to operate uninterrupted. These include the Paytm app, Paytm UPI, Paytm Gold and all other services offered by its subsidiaries and associated companies,” the company said.
The distinction may reassure users of the app ecosystem, but the regulator’s verdict is unequivocal. After years of warnings, caps and curbs, the payments bank experiment at Paytm is being shut down—decisively, and with little room left to manoeuvre.
