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Proposed Arbitration and Conciliation (Amendment) Bill, 2024: A Transformational Shift for Financial Dispute Resolution in BFSI

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Credgenics partners with Jupiter Council for Arbitration and Mediation (JCAM) for ODR in BFSI financial disputes

 NEW DELHI, Dec. 4, 2024 /PRNewswire/ — In today’s fast-paced digital era, the banking and financial services industry requires the ability to resolve financial disputes swiftly, transparently, and cost-effectively. Disputes, particularly those involving debt collections and financial recoveries, impose significant burdens on both lenders and borrowers, leading to prolonged litigation, elevated costs, and a loss of trust in the system.

To address these issues, the Arbitration and Conciliation (Amendment) Bill, 2024 has been introduced and is aimed at transforming the dispute-resolution landscape in the commercial and BFSI  sectors.

The Bill seeks to tackle the challenges posed by India’s traditionally slow dispute-resolution processes through Alternative Dispute Resolution (ADR) mechanisms. These proposed amendments aim to expedite dispute resolution, reduce associated costs, and restore confidence in the system by creating a more efficient and reliable globally accepted framework for resolving financial disputes in these critical sectors.

Key Features of the Proposed Bill

The Bill incorporates critical provisions to improve the arbitration framework. These features are  particularly beneficial for BFSI disputes resolution.

Minimized Court Intervention: The Bill curtails unnecessary judicial involvement, allowing disputes to be resolved more quickly and efficiently.Enhanced Procedural Efficiency: Faster arbitration processes reduce recovery costs and alleviate the burden on lenders and borrowers alike.Prioritization of Resolving Disputes The provisions ensure that high-priority cases are addressed promptly, meeting the demand for swift and efficient resolutions. By adopting these measures, the Bill aims to provide a structured, fair, and transparent mechanism for resolving disputes, ensuring mutual benefits for all stakeholders.

Jupiter Council for Arbitration and Mediation (JCAM) has emerged as a key player for financial dispute resolution in this evolving landscape of ADR that is rapidly becoming a preferred model across the globe. JCAM’s unique institutional arbitration framework for financial disputes is tailor-made to align with the objectives of the proposed Bill. In partnership with Credgenics, the leading platform for debt collections and resolution, JCAM delivers an integrated solution that addresses the unique challenges of BFSI financial dispute resolution.

JCAM’s framework is designed to provide:

Cost-effective Resolutions: Affordable arbitration processes reduce the financial burden on BFSI retail lenders and borrowers.Speedy Proceedings: Accelerated timelines for initiating, managing and concluding arbitration.Transparency and Neutrality: A fair and impartial system that inspires trust and confidence among disputing parties.

Alignment with Supreme Court Rulings
Recent judgments by the Supreme Court reinforce the principles of fairness and impartiality in arbitration, making JCAM’s framework even more relevant. Key highlights of these rulings include:

Prohibition of Unilateral Arbitrator Appointments: JCAM’s model is inherently compliant with this mandate, offering a structured and transparent process for arbitrator appointments. Through JCAM, parties benefit from an impartial selection mechanism that upholds trust and neutrality in every dispute resolution.Encouragement of Institutional Arbitration: Institutional frameworks, like JCAM, are recognized and encouraged for their fairness and efficiency.Recognition of Arbitral Awards: Decisions made through arbitration are fully admissible and enforceable in judicial and execution courts, boosting their credibility.

JCAM integrates these principles into its end-to-end solutions, utilizing Online Dispute Resolution (ODR) capabilities to ensure impartial and seamless arbitration processes. Customers can schedule seamless virtual hearings, access and download recordings / transcripts for completed meetings. JCAM with its user-friendly and simple interface also allows lenders to host and send legal communications and case proceedings for borrowers to respond and interact.

 Reflecting on these developments, Mayank Khera, Co-Founder & COO of Credgenics, highlighted the significance of the proposed Bill, “The proposed Arbitration and Conciliation (Amendment) Bill, 2024, is a major milestone for the BFSI sector. By embracing institutional arbitration and ODR platforms like JCAM, we are enabling banks and other non-banking lenders to resolve financial disputes with unmatched efficiency and transparency. The digital enablement not only reduces resolution timelines and costs but also builds trust in the dispute resolution process. At Credgenics, we are committed to providing a modern framework that aligns with such forward-looking reforms and strengthens the financial ecosystem.”

The Arbitration and Conciliation (Amendment) Bill, 2024 sets the stage for a transformative era in BFSI dispute resolution. By streamlining arbitration procedures and reducing reliance on courts, it promises quicker recoveries and lower litigation costs. Meanwhile, platforms like JCAM ensure that the financial dispute resolution processes remain fair, neutral, and transparent.

As the BFSI sector prepares for the Bill’s enactment, the collaboration between institutions like JCAM and industry leaders such as Credgenics underscores a shared commitment to building an equitable, efficient, and trustworthy financial dispute resolution system. These reforms not only address current challenges but also lay the foundation for a more robust financial ecosystem.

Reference: 
Jupiter Council for Arbitration and Mediation (JCAM): https://jcam.co.in/
Credgenics: https://www.credgenics.com/

Logo: https://mma.prnewswire.com/media/2573215/JCAM_Logo.jpg
Logo: https://mma.prnewswire.com/media/1844975/5060315/Credgenics_Logo.jpg

 

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Shoplazza Launches the World’s First AI-Native Commerce Operating System with a Unified Suite of AI Agents

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TORONTO, April 20, 2026 /PRNewswire/ — Shoplazza, a leading global commerce platform, announced the launch of the world’s first AI native commerce operating system recently, along with a unified suite of AI agents designed to execute across the entire ecommerce lifecycle. The release marks a major step forward in the company’s evolution from a traditional software platform to an AI-driven commerce infrastructure built for global scale.

At the core of the system is Shoplazza AI Store Builder, an intelligent agent that fundamentally changes how online stores are created. Instead of configuring tools manually, merchants can now generate fully functional, ready to sell storefronts through simple natural language input. By interpreting product information, target markets, and customer profiles, the system automatically builds site architecture, generates localized content, and provides initial go to market recommendations. What once required weeks of setup can now be completed in minutes, with a complete store and launch ready foundation.

Shoplazza also introduced LazzaStudio, an AI powered visual creation agent that streamlines how merchants produce content at scale. From product imagery to marketing creatives and campaign visuals, LazzaStudio transforms traditionally complex production workflows into a prompt driven process. With built in brand learning capabilities, the system generates consistent, high quality assets tailored for global audiences, enabling merchants to deploy content seamlessly across storefronts and advertising channels while significantly reducing production time and cost.

To complete the growth loop, Shoplazza launched AdValet, an AI advertising agent that automates campaign execution end to end. AdValet translates product data and market signals into audience targeting, creative generation, media planning, and campaign deployment. During live campaigns, it continuously monitors performance and dynamically optimizes outcomes through real time feedback and model iteration. This shifts advertising from manual, experience based trial and error to a system of continuous, AI-driven performance optimization.

These agents operate together within Shoplazza’s AI-native commerce operating system, where merchant intent is translated directly into coordinated execution. By unifying store creation, content production, and marketing into a single system, Shoplazza replaces fragmented workflows with an integrated layer of automation that enables faster, more predictable growth.

Shoplazza currently supports more than 650,000 merchants worldwide. With its AI-native architecture, the platform brings together previously disconnected capabilities into a single intelligent system, delivering improvements in efficiency, scalability, and operational reliability for businesses operating in increasingly complex global markets.

Looking ahead, Shoplazza will introduce Athena very soon, an AI admin agent designed to extend automation into day to day business management. Covering areas such as product management, order processing, analytics, and content operations, Athena allows merchants to interact with the system conversationally while orchestrating multiple agents in the background. This will complete a fully connected agent ecosystem spanning store creation, creative production, marketing execution, and ongoing operations.

“Commerce has reached a point where adding more tools no longer solves the problem,” said Jeff Li, Founder and CEO of Shoplazza. “What merchants need is a system that can understand intent and execute across the entire business. That is what we are building with our AI native commerce operating system. It is not just about making things easier. It is about making outcomes more predictable, scalable, and aligned with how modern commerce actually operates.”

About Shoplazza

Shoplazza is a global AI-native commerce operating system that enables brands to build, launch, and scale their online businesses. Built on an AI agent-native framework, Shoplazza integrates storefronts, marketing, payments, and operational workflows into a unified system designed to support scalable, long-term growth across global markets. Learn more at https://www.shoplazza.com/.

 

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SOURCE Shoplazza

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Pricer and JRTech Solutions sign 51 MUSD digital store transformation deal with Sobeys in Canada

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MONTREAL, April 20, 2026 /PRNewswire/ – Pricer AB, a global leader in digital shelf-edge solutions, announces that its Canadian partner JRTech Solutions has signed a major agreement with Sobeys, one of Canada’s leading supermarket chains. The contract includes the deployment of Pricer’s latest electronic shelf label (ESL) technology and the cloud-based platform Pricer Plaza across an estimated 300–350 stores.

The agreement covers the supply of multicolor electronic shelf labels and the necessary store infrastructure, with a total hardware and infrastructure value of approximately 51 MUSD (excluding Pricer Plaza). The deployment is scheduled for an 18-month period starting in May 2026.

“We are very grateful for the trust and that Sobeys has once again chosen Pricer as its long-term strategic partner,” says Mats Arnehall, Chief Growth Officer at Pricer. “This deal confirms our leading position in the North American market and the value of our high-performance system in high-density retail environments. Our scalable cloud platform, Pricer Plaza, will be the intelligence behind every label, enabling Sobeys to act faster and work smarter.”

“After years of close collaboration and shared success, we’re proud to grow our partnership with Sobeys even further with an expanded rollout,” says Diego Mazzone, President and CEO of JRTech Solutions. “That momentum is driven by our ability to consistently deliver reliable, high-quality solutions in complex retail environments. Together, we are positioning our digital smart labels at the heart of a broader digital transformation, driving operational excellence, unlocking real-time intelligence, and creating meaningful value for both Sobeys and their customers.”

Orders will be included in Pricer’s order intake as they are received.

About JRTech Solutions
JRTech Solutions Inc. is the leading North American turnkey Electronic Shelf Label (ESL) provider and the largest worldwide distributor of Pricer ESLs, involved in over 2,000 store installations since 2008. JRTech Solutions is the exclusive Canadian provider of AI-powered inventory scanning robotics powered by Brain Corp for automated inventory management.
For further information: www.jrtechsolutions.com

About Pricer
Pricer is a pioneer and partner for in-store communication and digitalization in the rapidly evolving retail tech landscape. As a global technology leader, we empower leading retailers worldwide to shape effortless and inspiring shopping experiences that fundamentally change buying behaviors, boost sales, and drive operational efficiency. Leveraging cutting-edge innovation, we deliver scalable, high-performing solutions that easily integrate with existing systems, are energy-efficient, and user-friendly. Founded in Sweden in 1991 and listed on Nasdaq Stockholm, Pricer has delivered over 380 million electronic shelf labels in more than 28,000 stores across more than 80 countries.
For further information, please visit www.pricer.com

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SOURCE JRTECH SOLUTIONS INC.

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Mitate Zepto Technica Joins JST’s Next-generation Edge AI Semiconductor R&D Program as Social Implementation Partner

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– MZT to Lead Product Commercialization through Its Genome-analysis Accelerator “RASEN” –

TOKYO, April 20, 2026 /PRNewswire/ — Mitate Zepto Technica, Inc. (hereinafter “MZT”), based in Tokyo’s Shibuya district, announced on April 20 that it has joined the national research initiative “Next-Generation Edge AI Semiconductor Research and Development Program” promoted by the Japan Science and Technology Agency (JST). MZT participates as a designated social implementation and commercialization partner for the research theme “Accelerating Edge Intelligence for AI for Science” (Principal Investigator: Makoto Taiji, Program Director, TRIP Headquarters, RIKEN).

Logo: https://kyodonewsprwire.jp/img/202604167540-O1-5Sz6I68Q 

This research theme aims to achieve advanced computational infrastructure through the integration of AI technology and next-generation edge semiconductors, with genome analysis as one of its key application domains. MZT participates as an organization responsible for the productization and social implementation of research outcomes through its proprietary genome-analysis accelerator “RASEN.”

Background

Since its founding in 2020, MZT has pursued a distinctive approach to genome analysis: purpose-built ASIC acceleration. Following technology validation through joint research with Tohoku University and other partners, MZT now participates as an R&D institution responsible for social implementation under this research theme.

MZT’s Role in the Program

Within this research theme, MZT will integrate AI research outcomes from RIKEN and Tohoku University into the RASEN architecture, and lead the R&D work toward social implementation through ASIC development and productization. As the industrial partner bridging research and real-world deployment, the company targets social implementation by 2029.

Program Overview

Research theme: Accelerating edge intelligence for AI for science
Promoting agency: Japan Science and Technology Agency (JST)
Principal investigator: Makoto Taiji, Program Director, TRIP Headquarters, RIKEN
Participating institutions: RIKEN, Tohoku University, Keio University, Mitate Zepto Technica
MZT’s participation start: April 2026 (FY2026)
JST program period: FY2025 onwards

Comment from Keisuke Harashima, President & CEO, Mitate Zepto Technica:
“It is a tremendous honor that we can lead the social implementation of this research theme through the acceleration of genome analysis via dedicated semiconductors — a challenge we have pursued since MZT’s founding. RASEN is at exactly the right inflection point, transitioning from research to real-world deployment. We will use this participation to accelerate commercialization across healthcare, drug discovery, and research infrastructure.”

About RASEN

RASEN is MZT’s proprietary genome-analysis accelerator under development, built on a purpose-designed ASIC architecture. In internal validation, RASEN has demonstrated the ability to complete whole-genome sequencing (WGS) analysis in approximately 5 minutes on a standard workstation — without the need for supercomputers or high-performance computing infrastructure. In independent validation studies conducted with Tohoku University, RASEN achieved 99.8% concordance with conventional analysis methods across 12 samples, confirming that its speed advantage does not come at the cost of accuracy.

About Mitate Zepto Technica

Mitate Zepto Technica is a Japanese deep-tech startup developing purpose-built semiconductor solutions for genome analysis. By harnessing cutting-edge chip technology, MZT aims to deliver transformative speed improvements in genomic computation –contributing to the resolution of global challenges in healthcare, food security, and energy through its proprietary products.

Website: https://mitatezeptotechnica.com/en/company/ 

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SOURCE Mitate Zepto Technica, Inc.

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