The Union Budget 2022 has been primarily focused on creating a digitally growing economy. The government has started prioritizing its expenditure on building a faster and more efficient environment for its consumers. The purpose of introducing virtual assets is to boost the digital economy. The introduction of legal regulations has now led the government to create a secure platform for these transactions to flow through effectively.

Concepts like AI-based video editing and augmented video processing are not just buzzwords anymore. Fraudsters now have easy access to plug-and-play products that enable them to use the power of deep learning and advanced AI to anonymize, mask, and alter images and videos. These spoofs also known as presentation attacks include printed photos, cutout masks, digital and video replay attacks, and 3D masks.

As India embraces the digital transformation and aligns with post pandemic lifestyle, working from home, shopping online, and managing money digitally has conveniently become a routine for us. This quick shift in the industry wouldn’t have been possible without quick regulatory advancements by government. Giving convenience a priority, critical functions like opening a bank account, lending a loan, large transactions, are now possible on fingertips.

The past two years have sure made everyone rethink and reimagine the way businesses must run. These years have been marked by resilience and reinvention. And, for many digital and digitally enabled startups, it’s been a year of remarkable growth. Almost all startups restructured their companies and significantly reduced costs. Many had to explore new distribution channels or new customer segments. Omnichannel consumer brands shifted completely online.

Cryptocurrency space is maturing, India’s appetite for cryptocurrency is evident, as the country facilitates the highest recipient of remittances globally — more than $83 billion since 2018 every year. With the support of cryptocurrencies, the remittance market is anticipated to soar in India, with cheaper, more efficient methods of sending money.

India ranks as one of the top two countries in the world in terms of digital adoption as per a McKinsey report. Over the last few years, initiatives such as Aadhaar, the national biometric digital identity program, have included over a billion Indians. India has also pioneered the United Payments Interface (UPI), a singular platform available as a mobile app that allows instant and cost-effective money transfer across people and businesses.

“Never let a crisis go to waste.” It’s an expression that we’ve all heard a lot over the course of the last year. It is a reminder by Winston Churchill that in bad times that big problems often beget opportunities to do things differently — and better — next time around. No other industry as much as crypto has lived up to this quote.

With our continuous pursuit to help businesses reduce the blind spots in business metrics, we have come up with yet another feature that will prove to be the richest source of financial data, i.e SMS TxN Extractor. SMS was believed to be a dead market until people began to understand the reliability. Apart from the concept of reliability of SMS messaging, texts are quick, cost-effective and results can very quickly be analyzed.

From ordering groceries to paying taxes everything has taken a shift to digital platforms. If you are still not going digital, you are putting your survival at stake. With the spur in digitization, digital identification has become ‘fundamental’ to the everyday operation of online services, but a universally recognized and secure solution has been lacking ever since.

While the world is still more familiar with physical IDs (which may then be linked to online government records), it continues to be inadequate today, as they can be easily manipulated or purchased illegally. IDENTITY –still on a piece of paper? This needs another thought, in a world where hard copies are going obsolete. Hence, governments of different countries have taken up new projects to build a 100% secure and digitized identity by levelling up their existing systems.