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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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FULTON FINANCIAL CORPORATION APPOINTS DAVID S. SCHULZ TO BOARD OF DIRECTORS

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July 21, 2026

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LANCASTER, Pa., July 21, 2026 /PRNewswire/ — Fulton Financial Corporation (NASDAQ: FULT) (“Fulton”) today announced the appointment of David S. Schulz as a member of its board of directors (the “Board”) for a term commencing September 14, 2026 and expiring at Fulton’s 2027 annual meeting of shareholders.

“We’re excited to welcome Dave to Fulton’s board of directors,” said Curt Myers, Fulton Chairman, CEO, and President. “Dave brings extensive financial leadership experience gained through more than a decade of service with publicly traded companies. His expertise in finance, strategic planning, risk, and mergers and acquisitions will provide valuable perspective as we continue to execute our growth strategy and create long-term value for our shareholders, customers and communities.”

With the addition of Schulz, Fulton’s Board will have 11 members, and he will serve on the Audit and Risk committees. Schulz has also been appointed to the board of directors of Fulton’s banking subsidiary, Fulton Bank, N.A.

Schulz served as Senior Vice President and Chief Financial Officer of Wesco International, Inc. (“Wesco”) from 2016 to June 2020, Executive Vice President and Chief Financial Officer of Wesco from June 2020 to February 2026 and as Executive Vice President and Special Advisor to the CEO of Wesco from February 2026 until his retirement on May 31, 2026. 

Prior to joining Wesco, Schulz served as Senior Vice President and Chief Operating Officer of Armstrong Flooring, Inc. and was previously Senior Vice President and Chief Financial Officer of Armstrong World Industries, Inc. and Vice President of Finance of the Armstrong Building Products division.

Before joining Armstrong World Industries in 2011, he held various financial leadership roles with Procter & Gamble and The J.M. Smucker Company. He was also an officer in the United States Marine Corps.

In 2025, Schulz joined the board of Sterling Infrastructure, Inc., and he was appointed as chair of the audit committee in 2026. He also serves on the company’s compensation and talent development committee.

ABOUT FULTON FINANCIAL CORPORATION

Fulton, a $34 billion Lancaster, Pa.-based financial holding company, has more than 3,400 employees and operates more than 215 financial centers in Pennsylvania, New Jersey, Maryland, Delaware and Virginia through Fulton Bank, N.A. Additional information on Fulton can be found at https://investor.fultonbank.com.

Contact: Steve Trapnell
717-291-2739

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SOURCE Fulton Financial Corporation

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Octavio Marquez Elected to MSA Safety Board of Directors

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54 minutes ago

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July 21, 2026

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PITTSBURGH, July 21, 2026 /PRNewswire/ — The Board of Directors of MSA Safety Inc. (NYSE: MSA), a global leader in the development of advanced industrial safety technology products and solutions, today announced that Octavio Marquez, president and chief executive officer of Diebold Nixdorf, has been elected to the company’s Board of Directors. His election was part of the MSA Board’s regular succession plans.

“We are very pleased to have the opportunity to add Octavio to the MSA Board,” said Robert A. Bruggeworth, MSA chairman. “He brings a broad range of executive leadership experience, including strategy development, capital allocation, business transformation and serving international markets, which will serve MSA well.”

“Octavio’s perspectives will be an asset to me and our entire Executive Leadership Team,” said Steven C. Blanco, MSA president and CEO. “It is a pleasure to welcome Octavio to MSA, and I look forward to working with him.”

Mr. Marquez joined Diebold Nixdorf in 2014 and has held senior leadership roles across the company’s Global Banking organization and its Americas region, including as executive vice president of Global Banking and senior vice president of the Americas. Before joining Diebold Nixdorf, Mr. Marquez held leadership positions at Dell EMC, Hewlett Packard Enterprise, IBM and NCR.

Diebold Nixdorf automates, digitizes and transforms the way people bank and shop. As a partner to the majority of the world’s top 100 financial institutions and top 25 global retailers, its integrated solutions connect digital and physical channels conveniently, securely and efficiently for millions of customers every day. Headquartered in North Canton, Ohio, Diebold Nixdorf employs approximately 20,000 employees globally, supporting more than 100 countries.

Mr. Marquez holds a degree in business and finance from Universidad Iberoamericana and has completed executive education programs at MIT Sloan, The Wharton School and The University of Texas at Austin.

About MSA Safety

MSA Safety Incorporated (NYSE: MSA) is the global leader in advanced industrial safety technology products and solutions. Driven by its singular mission of safety, the company has been at the forefront of safety innovation since 1914, protecting workers and facility infrastructure around the world across a broad range of diverse end markets while creating sustainable value for shareholders. With 2025 revenues of $1.9 billion, MSA Safety is headquartered in Cranberry Township, Pennsylvania, and employs a team of approximately 5,300 associates across its more than 40 international locations. For more information, please visit www.MSASafety.com.

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SOURCE MSA Safety

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BlueFolder Field Service Software Launches New AI-Powered Features to Transform How Teams Work

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54 minutes ago

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July 21, 2026

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New AI capabilities instantly surface customer insights and transform technician notes into actionable summaries to help field service teams work faster, stay aligned, and deliver better service

AUBURN, Ala., July 21, 2026 /PRNewswire/ — BlueFolder field service software recently announced the launch of two powerful new AI features: AI-Powered Customer Summaries and AI-Powered Field Notes Summarization. Together, these capabilities are designed to eliminate the time-consuming, manual work of reviewing fragmented customer records and lengthy technician notes—giving field service teams instant clarity to respond faster, make smarter decisions, and deliver exceptional service.

BlueFolder expands it’s field service and work order management suite with two exciting new AI field service features.

Built directly into the BlueFolder platform, both features leverage artificial intelligence to automatically compile and summarize complex, unstructured data into clear, easy-to-read overviews. The result: technicians, dispatchers, and managers always have the context they need, right when they need it.

AI-Powered Customer Summaries

As field service organizations grow, customer information becomes increasingly scattered across emails, service request logs, and communication histories. BlueFolder’s AI Customer Summary feature addresses this challenge head-on by consolidating those interactions into a single, actionable snapshot.

Instead of manually digging through multiple records before a service call or customer interaction, teams can now access a real-time summary highlighting key concerns, past service activity, and recent updates. The feature goes beyond basic summarization and surfaces critical business insights such as equipment past due for maintenance, approaching warranty expirations, and proactive revenue opportunities, empowering teams to recommend follow-ups or upgrades directly from the customer record.

Built-in traceability links each summary back to its original source communications, so users can validate insights with confidence, ensuring both speed and accuracy in every customer interaction.

AI-Powered Field Notes Summarization

In many service organizations, technicians log updates across multiple visits, often resulting in long, fragmented notes that are difficult to review at a glance. BlueFolder’s AI Field Notes Summarization feature solves this by automatically condensing multiple technician entries into a structured summary that highlights key milestones, actions taken, and next steps.

Rather than scrolling through pages of updates, managers and dispatchers can immediately understand job status and determine what needs to happen next, improving alignment between field and office teams, accelerating decision-making, and reducing miscommunication. The feature is especially valuable for complex or multi-day jobs, where clear continuity and smooth technician handoffs are critical to delivering consistent service. It’s another featuring making BlueFolder’s work order management software capabilities stronger every day.

“History is one of the most powerful tools a service team has — the problem is it’s usually buried. BlueFolder’s new AI features fix that. Your team walks into every interaction already knowing the customer, knowing the equipment, and exactly where things stand. That changes the entire experience,” says John Shaw, VP, Technology, Service Operations.

AI as a Core Part of the BlueFolder Platform

The launch of these two features reflects BlueFolder’s broader commitment to embedding AI throughout its field service management software as an integrated layer of intelligence that makes every workflow smarter. Rather than requiring teams to change how they work, BlueFolder’s AI capabilities are designed to surface the right information at the right moment automatically, within the tools that technicians, dispatchers, and managers already use every day.

“AI is transforming what’s possible in field service, and BlueFolder is answering that call. These features are the result of deep platform expertise and a clear vision for where the industry is headed. We’re embedding intelligence throughout the platform because we know it makes our customers more competitive, more efficient, and better positioned to grow,” says Stephen Myslicki, Group President of Field Services.

Availability

Both AI-Powered Customer Summaries and AI-Powered Field Notes Summarization are available now to BlueFolder customers as optional, easy-to-enable features within the platform. They are part of BlueFolder’s growing suite of AI-driven capabilities designed to help field service organizations operate more efficiently and scale with confidence.

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SOURCE BlueFolder

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