Coforge will hold a meeting of the Board of Directors of the Company on 22 July 2024.Powered by Capital Market - Live News

Coforge has approved the allotment of 48,69,565 equity shares to 143 qualified institutional buyers at the issue price of Rs 4,600 per equity share (including a premium of Rs. 4,590 per equity share), aggregating to Rs 2240 crore, pursuant to the Qualified Institutions Placement issue. Pursuant to the allotment of equity shares in the Issue, the paid-up equity share capital of the Company stands increased from Rs 61,82,09,920 consisting of 6,18,20,992 equity shares to Rs 66,69,05,570 consisting of 6,66,90,557 equity shares. Powered by Capital Market - Live News

Coforge will hold a meeting of the Board of Directors of the Company on 27 May 2024Powered by Capital Market - Live News

Coforge announced a collaboration with Microsoft to establish the Coforge Copilot Innovation Hub. The Hub will focus on developing a pipeline of new industry specific generative AI solutions and will work closely with Microsoft to integrate these solutions with Microsoft`s generative AI products and technologies, including Microsoft Azure OpenAI Service, Microsoft Power Platform, and Microsoft Copilot. As part of the Copilot Innovation Hub, Coforge announced the availability of two new copilots: Underwriter Copilot for insurance carriers and Advisor Copilot for financial services organizations. The Underwriter Copilot for Insurance is an innovative solution designed to empower insurance underwriters with informed decision-making capabilities and enhanced control, offering a pathway to better ROI and a seamless approach to navigating the complexities of underwriting. The solution focuses on improving combined ratios for carriers by two to three percent, unlocking new revenue opportunities. By using Underwriter Copilot, insurance carriers can increase their underwriter productivity and efficiency by 30-35 percent.The Coforge Advisor Copilot solution allows financial advisors to access comprehensive fund information and performance data swiftly through a user-friendly interface, eliminating the need for time-consuming searches across various tools, documents, and data sources. The solution is intended to increase the productivity of financial advisors and asset managers by more than 30 percent. These copilots will use Microsoft`s generative AI products and technologies to enhance productivity by automating manual tasks, improve decision-making by making recommendations based on enterprise data, and improve operational efficiency by streamlining and optimizing business processes. These solutions will accelerate transformation and create new value streams for clients.The Coforge Copilot Innovation Hub will enable frictionless adoption of Microsoft`s generative AI offerings for greater efficiencies and superior business outcomes. Powered by Capital Market - Live News

Coforge announced a strategic partnership with Fiorano to introduce ISO 20022 Compliance as a Service (ICaaS). As of March 2023, ISO 20022 has been live on the SWIFT cross-border payments network. Multiple domestic market infrastructures are also making substantial progress towards the complete adoption of this new payments message standard by the end of 2025. The migration is not just a step towards enhanced efficiency but a foundational pillar in the burgeoning world of digital currencies. However, migrating to ISO 20022`s unique requirements can be complex. The ICaaS offering from Coforge & Fiorano is a comprehensive solution designed to streamline the migration process to ISO 20022 compliance, providing those organizations impacted, with a seamless and costeffective transition. The comprehensive, end-to-end ISO 20022 Compliance as a Service (ICaaS) solution covers crucial elements including ISO 20022 Process Consulting, Translation, Structured Data, Data Truncation Management, and Quality Assurance, ensuring a seamless and cost-effective transition for financial institutions at any stage of their migration journey. The services offered by ICaaS include specialized SWIFT-focused consulting, advanced migration tools, ISO 20022 data products, and robust end-to-end testing services, tailored to meet the unique needs of each institution.Powered by Capital Market - Live News