- Adds another block to its modern marketing portfolio to leverage India’s phenomenal growth in video consumption
Mumbai / Chennai- September 19, 2018: Bajaj Finserv, through with lending arm Bajaj Finance Ltd., has announced collaboration with Wochit- a US-Israel based video automation company – to meet its ambitious goal of making video as the primary format of stimulation across its stakeholder sets. With Wochit’s predictive video creation platform and distribution channels, Bajaj Finserv will bring stories to life, at scale and speed, cutting down video turn-around time to less than 30 minutes and at 1/10th the cost.
Video consumption in India has increased 5X between 2016 and 2017, with smaller cities registering up to 22X growth. In the first-of-its-kind initiative, Bajaj Finserv will take its first step towards leveraging the remarkable growth in online video consumption and lead video adoption amongst BFSI players in India.
Wochit is the first building block in our journey of creating video as the primary format of stimulation and communication across our stakeholder sets. We will add many other pieces of technology to create a powerful story-telling tool that leverages both creativity and automation to deliver impact for business, said Manev Mianwal, Group Marketing Head, Bajaj Finserv on the partnership.
Mr. Dror Ginzberg, Founder and CEO, Wochit, said, “We are pleased to announce our partnership with Bajaj Finance that complements their existing production capabilities. Our service will empower Bajaj Finserv to churn out over 2000 videos a year through our partly automated digital capabilities with minimum human intervention.”
Wochit’s Do-It-Yourself (DIY) platform has a library of 100 million licensed, ready-to-use stock assets such as images, video clips, and sounds which can be easily stitched together to create a quality video at scale. Bajaj Finance had recently run a demo workshop to democratize the capability across businesses and functions, driving adoption and usage.
Wochit analyzes the text of an article and automatically finds licensed photos, videos and graphics that can be used to build a video around that story. Publishers can quickly edit the video and add things like background music and voiceover.
About Bajaj Finance Limited
Bajaj Finance Limited, the lending and investment arm of Bajaj Finserv group, is one of the most diversified NBFCs in the Indian market catering to more than 23 million customers across the country. Headquartered in Pune, the company’s product offering includes Consumer Durable Loans, Lifestyle Finance, Digital Product Finance, Personal Loans, Loan against Property, Small Business Loans, Home loans, Credit Cards, Two-wheeler and Three-wheeler Loans, Construction Equipment Loans, Loan against Securities and Rural Finance which includes Gold Loans and Vehicle Refinancing Loans along with Fixed Deposits and Advisory Services. Bajaj Finance Limited prides itself for holding the highest credit rating of FAAA/Stable for any NBFC in the country today.
To know more please visit https://www.bajajfinserv.in/finance/
Wochit is a video creation platform that empowers newsrooms, media companies and brands to expand audience engagement through the power of social video. Worldwide media brands such as Time Inc., Daily News, USA Today, Gannett, The Week, ProSieben, Singapore Straits Times, Focus online and Der Spiegel use Wochit to produce short-form videos around trending topics at the scale and speed required in the video-first, mobile era. With rights-cleared assets from AP, Reuters, Getty, Bloomberg and others, cloud-based editing tools and native uploads, horizontal and vertical videos are quickly created and distributed across all social and digital platforms. Wochit is among the 2016-2017 EContent’s Top 100 companies in the digital content industry as well as the winner of both the Gutenberg Prize for its disruptive technology in the field of journalism and Digiday’s Best Video Technology Innovation for its significant impact on publishers’ bottom line. The Company is backed by Redpoint Ventures, Marker LLC, Cedar Fund, Greycroft Partners, Singapore Press Holdings, ProSieben, Carlo de Benedetti, and Press Association.