Connect with us

Technology

Infosys: Strong performance with broad based revenue growth in CC of 3.1% sequentially and 3.3% YoY

Published

5 hours ago

on

FY25 revenue guidance revised to 3.75%-4.50%; Margin guidance retained at 20%-22%

BENGALURU, India, Oct. 17, 2024 /PRNewswire/ — Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting, delivered broad based growth performance with $4,894 million in Q2 revenues, sequential growth of 3.1% and year on year growth of 3.3% in constant currency. Operating margin for Q2 was at 21.1%. Free cash flow for Q2 was at $839 million, growing 25.2% year on year. TCV of large deal wins was $2.4 billion, 41% being net new.

H1 revenues grew at 2.9% year over year in constant currency. Operating margin for H1 was at 21.1%.

“We had strong growth of 3.1% quarter-on-quarter in constant current in Q2. The growth was broad based with good momentum in financial services.  This stems from our strength in industry expertise, market leading capabilities in cloud with Cobalt and generative AI with Topaz, resulting in growing client preference to partner with us”, said Salil Parekh, CEO and MD. “Our large deals at $2.4 billion in Q2 reflect our differentiated position. I am grateful to our employees for their unwavering commitment to our client as we further strengthen our market leadership” he added.

3.1% QoQ

3.3% YoY

 CC Growth  

21.1%

Operating
Margin

4.7% YoY

EPS Increase

(₹ terms)

$2.4 Bn

Large Deal

TCV

$839 Mn

Free

Cash Flow

Guidance for FY25:

Revenue growth of 3.75%-4.50% in constant currencyOperating margin of 20%-22%

Key highlights:

For six months ended September 30, 2024

For the quarter ended September 30, 2024

Revenues in CC terms grew by 2.9% YoYReported revenues at $9,608 million, growth of 2.9% YoYOperating margin at 21.1%, growth of 0.1% YoYBasic EPS at $0.37, growth of 4.4% YoYFCF at $1,933 million, growth of 41.2% YoY; FCF conversion at 125.3% of net profit

Revenues in CC terms grew by 3.3% YoY and 3.1% QoQReported revenues at $4,894 million, growth of 3.7% YoYOperating margin at 21.1%, decline of 0.1% YoY and flat QoQBasic EPS at $0.19, growth of 3.4% YoYFCF at $839 million, growth of 25.2% YoY; FCF conversion at 107.8% of net profit

“We continue to focus on accelerating revenue growth with a sharp focus on margin performance. Operating margins for the quarter was at 21.1%, driven by continued benefits from value-based pricing and utilization despite higher employee payouts. Our focus on cash generation resulted in another quarter of over 100% Free Cash Flow conversion to net profits,” said Jayesh Sanghrajka, CFO. “The Board announced an interim dividend of `21 per share, 16.7% increase from last year,” he added.

1.  Client wins & Testimonials

Infosys announced that it has entered into a long-term collaboration with Metro Bank to enhance some of its IT and support functions, while digitally transforming the bank’s business operations. Daniel Frumkin, Metro Bank Chief Executive Officer, said, “This collaboration with a world class provider like Infosys builds on the solid foundations we have already laid, unleashing our true potential, and creating a sustainably profitable and scalable organization that is fit for the future. At the end of this transformation, we will be a very different business, but the true essence of Metro Bank will remain the same – a high-quality service organization putting customers centre-stage. Metro Bank expects to deliver £80m of annualized cost savings this year across multiple initiatives, as it progresses towards the target of reaching mid-to-high teen Return on Tangible Equity by 2027. Our vision for Metro Bank in 2025 and beyond, places our store network firmly at its heart, as we continue with our plans to open new stores and bring the Metro Bank experience to the north of England.”Infosys announced a strategic collaboration with Proximus to help unlock new business opportunities. Antonietta Mastroianni, Chief Digital & IT Officer at Proximus, said: “We are delighted to strengthen our long-standing collaboration with Infosys. By leveraging Infosys’ global reach and our expertise in CPaaS and DI Solutions, the collaboration will drive innovation and deliver superior customer experiences for our joint customers. We are confident that our mutual deep expertise and proven track record will be instrumental in this two-way partnership.”Infosys announced its collaboration with TDC Net to help them transform from a traditional infrastructure company to a leading customer-centric technology company. Campbell Fraser, CTIO, TDC Net said, “At TDC Net, we are committed to delivering exceptional value to our customers through a transformation in our IT landscape. Our collaboration with Infosys will enable us to leverage industry-standard processes and platform to create better customer experiences. Infosys’ deep expertise in the telecommunications domain, coupled with their proven capabilities in driving end-to-end transformations, gives us confidence in achieving our goals. This collaboration represents a significant milestone in our journey towards becoming a fully digital and customer-centric technology company.”Infosys announced the extension of its existing collaboration with Posti to help it enhance customer experience and operational efficiency while continuing to innovate, scale, and grow its IT operations. Petteri Naulapää, CIO & SVP, ICT and Digitalization, Posti Group, said, “We are pleased to announce the renewal of our collaboration with Infosys for another seven years. By harnessing the power of AI through Infosys Topaz and cloud capabilities through Infosys Cobalt, we aim to create a more efficient and customer centric organization. The collaboration with Infosys will accelerate our digital transformation journey and help us deliver exceptional services, optimize our operations, and strengthen our position as a leading delivery and logistics provider.”Infosys announced a strategic collaboration with Sally Beauty Holdings, Inc. (SBH) to drive enterprise-scale IT transformation and implement best practices in IT operations to bring efficiencies through the optimization of IT service delivery. Scott Lindblom, CIO, Sally Beauty, said “We are excited to be collaborating with Infosys as we take SBH into the future by modernizing our IT service delivery and meeting the goals set by our “Fuel for Growth” initiative. Embracing AI-amplified IT is a significant step forward for us in enabling us to, in turn, deliver exceptional experiences for our customers.”Infosys announced a strategic collaboration with Polestar to create a base for Polestar’s development of in-car infotainment, Software and Electrical/ Electronics (SW&EE) engineering, user experience (UX), and cloud-powered digital services. Sven Bauer, Head of Software at Polestar, said, “Polestar is starting a new chapter in the company’s global setup with our partner Infosys in Bengaluru. We look forward to building automotive competence in the Polestar Tech Hub to support our growing vehicle portfolio and new model launches.”Infosys announced a successful collaboration with the Life Insurance Corporation of India (LIC) to spearhead its digital transformation initiative called DIVE. Shri Siddhartha Mohanty, CEO & MD, LIC, said, “Our collaboration with Infosys marks a significant milestone in our digital transformation journey. It will not only enhance our operational capabilities, but also enable us to cater to our vast customer, agent and employee base with newer, more personalized experiences. We are committed to leveraging the latest technologies that Infosys has to offer, including Cloud and Enterprise AI, to drive innovation and improve our offerings.”

2.  Recognitions & Awards

Brand

Recognized as India’s Best Workplaces™ for Women 2024: Top 50 (Large) for the fourth consecutive year by Great Place to Work® InstituteRecognized as India’s Best Workplaces™ in Diversity, Equity, Inclusion & Belonging 2024: Top 25 by Great Place to Work® InstituteRecognized among ‘Best Companies for Women in India (BCWI) study, 2024′ by Avtar & Seramount, and among ‘Best Companies – Hall of Fame’ for having featured in the list, six editions in a rowRecognized as the ‘Champion of Inclusion’ in the Most Inclusive Companies Index 2024 by Avtar and Seramount for the fifth year

AI and Cloud Services

Positioned as a leader in 2024 Gartner Magic Quadrant for Public Cloud IT Transformation ServicesRated as a leader in End-to-End Cloud Infrastructure Management Services NEAT 2024 by NelsonHallRecognized as a leader in Constellation Shortlist 2024: Artificial Intelligence and Machine Learning Best-of-Breed PlatformsRecognized as a leader in Constellation Shortlist 2024: AI-Driven Cognitive ApplicationsRecognized as a leader in Constellation Shortlist 2024: AI Services: GlobalRecognized as a leader in Constellation Shortlist 2024: Public Cloud Transformation Services: Global

Key Digital Services

Recognized as a leader in Global In-house Center (GIC) Setup Capabilities in India – Provider PEAK Matrix® Assessment 2024 by EverestRecognized as a leader in Digital Transformation Consulting Services PEAK Matrix® Assessment 2024 – North America by EverestRecognized as a leader in Salesforce Services PEAK Matrix® Assessment 2024 by EverestRecognized as a leader in Open Banking IT Services PEAK Matrix® Assessment 2024 by EverestRecognized as a leader in Private Equity IT Services PEAK Matrix® Assessment 2024 by EverestRecognized as leader in Life & Annuity (L&A) Insurance IT Services PEAK Matrix® Assessment 2024 by EverestRecognized as a leader in Digital Commerce Services PEAK Matrix® Assessment 2024 by EverestRecognized as a leader in Digital Workplace Services PEAK Matrix® Assessment 2024 – Europe by EverestRecognized as a leader in Digital Workplace Services PEAK Matrix® Assessment 2024 – North America by EverestRecognized as a leader in Focus on Appian – Low-code Application Development Services PEAK Matrix® Assessment 2024 by EverestRecognized as a leader in Focus on OutSystems – Low-code Application Development Services PEAK Matrix® Assessment 2024 by EverestRecognized as a leader in Focus on Microsoft Power Apps – Low-code Application Development Services PEAK Matrix® Assessment 2024 by EverestRated as a leader in IDC MarketScape: Asia/Pacific SAP Implementation Services 2024 Vendor AssessmentPositioned as a leader in HFS Horizons: The Best Service Providers for Core Banking ModernizationRated as a leader Learning Platforms NEAT 2024 by NelsonHallRecognized as a leader in Constellation Shortlist 2024: Metaverse Design and ServicesRecognized as a leader in Constellation Shortlist 2024: Custom Software Development ServicesRecognized as a leader in Constellation Shortlist 2024: Digital Transformation Services (DTX): GlobalRecognized as a leader in Constellation Shortlist 2024: Customer Experience (CX) Operations Services: GlobalRecognized as a leader in Constellation Shortlist 2024: Customer Experience (CX) Design & Execution Services: GlobalWon the SAP LeanIX Growth Partner of the Year Award at the SAP Transformation Excellence SummitInfosys BPM recognized as a Leader in the Lending Services PEAK Matrix® Assessment 2024 by EverestInfosys BPM recognized as a leader in ISG Provider LensTM Global Financing & Accounting Outsourcing Services Study (P2P, O2C, R2R and FP&A)Infosys BPM won the Avasant Digital Masters Award 2024 in the Business Process Transformation categoryInfosys BPM ranked as Innovators in Avasant Digital Masters Business Process Transformation Radarview™Infosys BPM won an award at NIQR Lean Six Sigma Case Study Contest 2024

Industry & Solutions

Rated as a leader in IDC FinTech 2024 RankingsInfosys BPM recognized as a leader in the Finance & Accounting Outsourcing (FAO) PEAK Matrix® Assessment 2024 by EverestInfosys Finacle positioned as a leader in the IDC MarketScape: Worldwide Cash Management Systems 2024 Vendor Assessment; Worldwide Integrated Bank Payment Systems 2024 Vendor Assessment; North America Digital Core Banking Platforms 2024 Vendor Assessment; Europe, Middle East, and Africa Digital Core Banking Platforms 2024 Vendor Assessment; Asia/Pacific Digital Core Banking Platforms 2024 Vendor AssessmentInfosys McCamish ranked as a leader in ISG Provider LensTM Insurance Platform Solutions study in North AmericaInfosys Finacle won Excellence in Corporate Digital Banking with Zand Bank at the Finnovex Awards Middle East 2024Infosys Finacle won 2 industry awards at Finnovex Awards Southern Africa 2024: ‘Excellence in Customer Experience with Standard Bank’, ‘Excellence in Payment Solutions for Finacle Payments’

Read more about our Awards & Recognitions here.

About Infosys

Infosys is a global leader in next-generation digital services and consulting. Over 300,000 of our people work to amplify human potential and create the next opportunity for people, businesses and communities. We enable clients in more than 56 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer clients, as they navigate their digital transformation powered by the cloud. We enable them with an AI-powered core, empower the business with agile digital at scale and drive continuous improvement with always-on learning through the transfer of digital skills, expertise, and ideas from our innovation ecosystem. We are deeply committed to being a well-governed, environmentally sustainable organization where diverse talent thrives in an inclusive workplace.

Visit www.infosys.com to see how Infosys (NSE, BSE, NYSE: INFY) can help your enterprise navigate your next.

Safe Harbor

Certain statements in this release concerning our future growth prospects, our future financial or operating performance, the McCamish cybersecurity incident and the related review and notification process are forward-looking statements intended to qualify for the ‘safe harbor’ under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results or outcomes to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the execution of our business strategy, increased competition for talent, our ability to attract and retain personnel, increase in wages, investments to reskill our employees, our ability to effectively implement a hybrid working model, economic uncertainties and geo-political situations, technological disruptions and innovations such as Generative AI, the complex and evolving regulatory landscape including immigration regulation changes, our ESG vision, our capital allocation policy and expectations concerning our market position, future operations, margins, profitability, liquidity, capital resources, our corporate actions including acquisitions, the amount of any additional costs, including indemnities or damages or claims, resulting directly or indirectly from the McCamish cybersecurity incident and the outcome and effect of pending litigation. Important factors that may cause actual results or outcomes to differ from those implied by the forward-looking statements are discussed in more detail in our US Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2024. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company’s filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.

 

Infosys Limited and subsidiaries

Extracted from the Condensed Consolidated Balance Sheet under IFRS as at:                    (Dollars in millions)

September 30, 2024

March 31, 2024

ASSETS

Current assets

Cash and cash equivalents

2,601

1,773

Current investments

887

1,548

Trade receivables

3,820

3,620

Unbilled revenue

1,559

1,531

Other current assets

1,817

2,250

Total current assets

10,684

10,722

Non-current assets

Property, plant and equipment and Right-of-use assets

2,284

2,323

Goodwill and other Intangible assets

1,604

1,042

Non-current investments

1,189

1,404

Unbilled revenue

255

213

Other non-current assets

912

819

Total non-current assets

6,244

5,801

Total assets

16,928

16,523

LIABILITIES AND EQUITY

Current liabilities

Trade payables

458

474

Unearned revenue

860

880

Employee benefit obligations

343

314

Other current liabilities and provisions

3,210

2,983

Total current liabilities

4,871

4,651

Non-current liabilities

Lease liabilities

756

767

Other non-current liabilities

463

500

Total non-current liabilities

1,219

1,267

Total liabilities

6,090

5,918

Total equity attributable to equity holders of the company

10,789

10,559

Non-controlling interests

49

46

Total equity

10,838

10,605

Total liabilities and equity

16,928

16,523

  

Extracted from the Condensed Consolidated statement of Comprehensive Income under IFRS for:

(Dollars in millions except per equity share data)

3 months ended
September 30,
2024

3 months ended
September 30,
2023

6 months ended
September 30,
2024

6 months ended
September 30,
2023

Revenues

4,894

4,718

9,608

9,334

Cost of sales

3,400

3,271

6,659

6,481

Gross profit

1,494

1,447

2,949

2,853

Operating expenses:

   Selling and marketing expenses

221

213

454

429

   Administrative expenses

240

234

469

463

Total operating expenses

461

447

923

892

Operating profit

1,033

1,000

2,026

1,961

Other income, net (3) 

72

60

160

117

Profit before income taxes

1,105

1,060

2,186

2,078

Income tax expense

327

309

644

603

Net profit (before minority interest)

778

751

1,542

1,475

Net profit (after minority interest)

777

751

1,540

1,475

Basic EPS ($)

0.19

0.18

0.37

0.36

Diluted EPS ($)

0.19

0.18

0.37

0.36

NOTES:

The above information is extracted from the audited condensed consolidated Balance sheet and Statement of Comprehensive Income for the quarter and six months ended September 30, 2024, which have been taken on record at the Board meeting held on October 17, 2024.A Fact Sheet providing the operating metrics of the Company can be downloaded from www.infosys.com.Other income is net of Finance Cost.As the quarter and six months ended figures are taken from the source and rounded to the nearest digits, the quarter figures in this statement added up to the figures reported for the previous quarter might not always add up to the six months ended figures reported in this statement.

IFRS-INR Press Release : https://www.infosys.com/investors/reports-filings/quarterly-results/2024-2025/q2/documents/ifrs-inr-press-release.pdf
Fact sheet: https://www.infosys.com/investors/reports-filings/quarterly-results/2024-2025/q2/documents/fact-sheet.pdf

 

Logo: https://mma.prnewswire.com/media/633365/Infosys_Logo.jpg

 

View original content:https://www.prnewswire.co.uk/news-releases/infosys-strong-performance-with-broad-based-revenue-growth-in-cc-of-3-1-sequentially-and-3-3-yoy-302279265.html

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Nordic and BeeKeeperAI partner to accelerate AI-driven clinical decision support at the point of care

Published

56 mins ago

on

October 17, 2024

By

EHR implementation leader joins forces with leading innovator of privacy-preserving collaboration platform to accelerate real-world impact of clinical decision support systems (CDSS)RightAI was designed to enable life sciences companies to accelerate the development and deployment of CDSS to enable the right treatment for the right patient at the right time to improve outcomesNordic and BeeKeeperAI aim to enable hospitals, health systems, and academic medical centers to more efficiently test, deploy, and monitor clinical decision support at the point of care

MADISON, Wis., Oct. 17, 2024 /PRNewswire/ — Nordic®, a global health and technology consulting company, and BeeKeeperAI®, Inc. a pioneer in privacy-enhancing, multi-party collaboration software for real-world AI development and deployment, announced today a strategic partnership to bring to market a new real-world, end-to-end RightAI™ solution that is aimed at connecting biopharmaceutical and medical technology companies, healthcare delivery organizations, and physicians in the development, validation, and deployment of AI and machine learning-based CDSS tools that support clinical workflows within electronic health record (EHR) systems. The partnership intends for RightAI to assist physicians with optimizing patient outcomes through the use of native CDSS tools within the EHR and support efforts to identify patients who are optimal candidates for clinical trials.

Precise decision-making at the point of care can be difficult given a variety of factors, such as a patient’s unique clinical characteristics, chronic conditions, and the complexities of biological and disease factors. The development of a new standard of care resulting from the collaboration between biopharmaceutical and medical technology companies and healthcare systems can enable new personalized care programs, provide novel therapies, and meet patients’ goals for better health. RightAI seeks to offer solutions that enable clinicians to identify these optimal treatment plans for the right patient at the right time. Leveraging the power of data at the point of care from this collaboration can transform care delivery.

“By embracing AI in healthcare, we are transforming how care is delivered and setting a new standard for patient-centered, personalized, and efficient care,” said Nordic Chief Medical Officer Craig Joseph, MD. “Our partnership with BeeKeeperAI and the integration of RightAI into the EHR allows us to introduce AI models that create real-world impact and drive better patient outcomes.”

Along with the potential both to unlock data insights and enable more precise therapeutic decisions by clinicians, RightAI also intends to accelerate time-to-market for AI developers building CDSSs and other machine learning solutions for healthcare. Biopharmaceutical and medical technology companies offering therapies for complex diseases can leverage RightAI to assist with the development of CDSSs based on real-world data and quickly achieve real-world impacts.

“Together with Nordic, BeeKeeperAI’s privacy enhancing platform can address the last mile of AI/machine learning-based CDSS: real-world deployment and ongoing monitoring for performance drift. The ability to develop and deploy solutions in real-world settings enhances and accelerates the impact of CDSS,” said Michael Blum, MD, co-founder and chief executive officer at BeeKeeperAI. “Instead of taking years to achieve impact, RightAI will enable CDSS to impact patient outcomes in a matter of months from the start of development to impact. This acceleration will enable life-changing therapies to reach patients more quickly, fulfilling the promise of healthcare AI.”

Dr. Joseph added, “Following the guiding principles of clinical decision support, RightAI brings the right information to the right provider in the right format through the right channels at the right time to help clinicians improve the precision of their treatment decisions for their patients.”

The partnership continues Nordic and BeeKeeperAI’s leadership in the healthcare AI space. Nordic is a comprehensive delivery partner of BeeKeeperAI’s EscrowAI™, a privacy-enhancing collaboration platform for trustworthy and responsible AI that enables data controllers to maintain control and protect the privacy of their real-world patient data and developers to responsibly develop and deploy AI into the EHR and clinical workflows.

About Nordic Consulting
Nordic is a global health and technology consulting company that partners with health leaders worldwide to create healthier systems, organizations, and people. Our team of 3,300+ professionals bring decades of experience in strategic advisory, digital and cloud initiatives, implementation and support, ERP services, and managed services. The Nordic global team, including its Canadian arm Healthtech, support more than 700 clients in their efforts to harness the power of technology. Learn more at NordicGlobal.com. 

About BeeKeeperAI
BeeKeeperAI is a pioneer in privacy-enhancing technologies, leveraging Trusted Execution Environments with confidential computing for the development and deployment of AI in healthcare and other regulated data industries. BeeKeeperAI is accelerating the broader availability of AI-powered solutions that will help to redefine the future of healthcare and commerce. Learn more at BeeKeeperAI.com.   

Disclaimer:
Certain information herein contains forward-looking statements, and undue reliance should not be placed on them. Although forward-looking statements contained in this Press Release are based upon reasonable assumptions by management of both companies, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ from those anticipated in such statements.

Media Contact: 
Melissa Prusher, Nordic 
globalmarketing@nordicglobal.com  

View original content to download multimedia:https://www.prnewswire.com/news-releases/nordic-and-beekeeperai-partner-to-accelerate-ai-driven-clinical-decision-support-at-the-point-of-care-302279483.html

SOURCE Nordic Consulting

Continue Reading

Technology

Annual Wealth Access Summit Gathers 30+ Banks for Peer Discussions on Unlocking Revenue Through Wealth Management

Published

56 mins ago

on

October 17, 2024

By

Data unification provider hosts industry leadership to encourage peer-to-peer dialogues on wealth management as a growth opportunity

NASHVILLE, Tenn., Oct. 17, 2024 /PRNewswire/ — Wealth Access, a leading technology provider in wealth data, offering unified insights to help banks unlock growth, boost deposits, and enhance digital banking services, today announced insights from its annual 2024 Wealth Access Summit. The Nashville event, attended by Executives of the nation’s largest regional and super-regional banks, included high-asset organizations totaling $2.3 trillion in bank assets and $1.3 trillion in wealth management.

The Wealth Access Summit gathers financial industry leaders focused on driving growth and innovation in banking and wealth management. This event brings together executives from regional banks and wealth management firms to engage in peer discussions on critical topics shaping the industry’s future. Participants gain valuable insights about how technology is driving their growth agendas, exploring strategies for achieving revenue goals and examining approaches to improve client engagement and loyalty.

The Summit focused on the untapped potential of wealth management to diversify and stabilize bank revenue streams. High interest rates, shrinking net interest margins (NIM) and tightening regulations are prompting banks to seek alternative revenue sources, positioning wealth management as a critical growth opportunity. Discussions at the 2024 Summit focused on how banks can leverage unified data insights to capitalize on the wealth management opportunity and ultimately generate recurring fee revenue, support sustainable growth, capture market share and drive competitive transformation.

“Insights shared at this year’s Summit underscore a critical reality: wealth management represents the largest untapped market within banks today,” said David Benskin, founder and CEO of Wealth Access. “Our candid discussions highlighted how the consistent, recurring fee revenue from wealth management offers banks an unmatched opportunity for stable and predictable growth. As we look towards 2025, it’s clear that institutions using technology to maximize their wealth management offerings are best positioned to unlock greater revenue potential. We were excited to once again join industry leaders from the nation’s most innovative banks to engage in these vital conversations on driving enterprise success.”

Several institutions noted how their organizations were shifting their culture to be more in line with a One Bank mentality, versus treating Wealth as a siloed business unit. In addition to conversations around culture, another major theme of the Summit was understanding the power of data to create segmentation and hyper-target cross-sell audiences based on the wealth data that customers get from Wealth Access or alternative Business Intelligence tools.

The Summit concluded with a Build Your Blueprint session where attendees created a plan to continue their conversations internally by documenting their alignment needs, obstacles, data requirements, and goals for success. The company is offering Build Your Blueprint sessions from their website to those interested in learning more about the Summit findings and creating a strategic plan.

Last week, Wealth Access announced its new offering to support executives, like those gathered at the Wealth Access Executive Summit, in their strategic initiatives to drive significant revenue growth through wealth. This, along with more information on Build Your Blueprint can be found at www.wealthaccess.com.

About Wealth Access 
Wealth Access is the leading wealth data insights platform, pioneering the transformation of wealth management in banking. By intelligently unifying records across multiple systems, Wealth Access creates living balance sheets that enable service teams to see each client’s complete financial story, work across business lines to improve customer loyalty and drive higher revenue. As a result of its innovative enterprise-class solutions, Wealth Access today supports a variety of clients from RIAs, trust companies, brokers, regional and national banks. 

View original content to download multimedia:https://www.prnewswire.com/news-releases/annual-wealth-access-summit-gathers-30-banks-for-peer-discussions-on-unlocking-revenue-through-wealth-management-302279492.html

SOURCE Wealth Access

Continue Reading

Technology

LF Charities Welcomes Project Jupyter, Expanding Role in Data Science and Furthering Community Innovation

Published

56 mins ago

on

October 17, 2024

By

SAN FRANCISCO, Oct. 17, 2024 /PRNewswire/ — LF Charities, Inc. (LF Charities) today announced that Project Jupyter, an open source project creating software and standards that are widely used by millions for interactive computing, data science, and research, is now hosted by LF Charities. This move is set to bolster Project Jupyter’s sustainability, governance, and ability to grow its ecosystem, ensuring that its collaborative open source approach continues to thrive.

Jupyter software and standards, including the ubiquitous and category-defining Jupyter Notebook, have become essential tools across industries. They enable data scientists, researchers, educators, and enterprises to create and share interactive notebooks, and to build new applications centered on the interactive exploration of data, supporting collaboration with both humans and AI. Evolving from the IPython project, and growing in NumFOCUS, the transition to LF Charities marks a new chapter in the project’s history, offering enhanced support, governance, and long-term vision for Project Jupyter’s development.

“Project Jupyter has become a cornerstone in the data science, AI, and research communities, enabling interactive computing for users around the world,” said Jim Zemlin, executive director, the Linux Foundation. “We look forward to supporting the Project Jupyter community and enabling the project’s long term sustainable growth. We also would like to thank NumFOCUS, Inc. for their prior support of the project.” 

“Project Jupyter has always been about collaboration, openness, and providing tools that support interactive computing at scale. Joining LF Charities represents an important milestone that will allow us to grow our impact and further our mission,” said Fernando Pérez, Jupyter Executive Council Member. “This move enables us to strengthen our governance model and secure the project’s future for generations of scientists, educators, and innovators.”

With its new home at LF Charities, Project Jupyter will continue to thrive as an open, community-driven platform. The transition will ensure the project’s stability, allowing it to respond more effectively to the growing demands of its users and contributors.

Project Jupyter welcomes companies using Jupyter in any capacity, research groups, government agencies, educators and individual contributors to get involved and participate. Additionally, organizations supporting Project Jupyter are working with the Linux Foundation to launch the Jupyter Foundation to further provide resources for the project’s strategy and direction. To learn more about Project Jupyter, its mission, community and initiatives, please visit www.jupyter.org. For information on joining the Jupyter Foundation as a member, please see https://jupyterfoundation.org.

About LF Charities

LF Charities empowers people and communities worldwide to engage in the creation and development of open source technology. This includes enabling a wide range of technical collaboration, including open source software, standards, hardware, and data. It is the goal of LF Charities to enable development of open technology which is shared freely across the world to tackle societal challenges and bridge inequalities. LF Charities is committed to fostering a public commons for open source technology—a commons that propels the advancement of society at large. With this charitable mission, LF Charities supports the Linux Foundation ecosystem. For more information please visit https://lf-charities.org/.

Media Contact

Jill Lovato

jlovato@linuxfoundation.org 

The Linux Foundation

View original content to download multimedia:https://www.prnewswire.com/news-releases/lf-charities-welcomes-project-jupyter-expanding-role-in-data-science-and-furthering-community-innovation-302278747.html

SOURCE The Linux Foundation

Continue Reading

Trending