Bajaj Finserv ties up with Wochit

Bajaj Finserv, through its lending arm Bajaj Finance Ltd., has announced collaboration with Wochit – a US-Israel based predictive video creation platform – to meet its ambitious goal of making video the primary format of stimulation across its stakeholder sets. With Wochit’s suite of predictive tools 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 (Source – Hotstar India watch report, 2018). 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 storytelling tool that leverages both creativity and automation to deliver impact for business, said Manev Mianwal, Group Marketing Head, Bajaj Finserv on the partnership.

Dror Ginzberg, Founder and CEO, Wochit, said, “We are pleased to announce our partnership with Bajaj Finserv. Our pilot program perfectly complements their existing production capabilities, and means that they’ll be able to seamlessly create video content for their marketing needs. From production to distribution, our suite of predictive tools will empower Bajaj Finserv to create as many videos as needed each day.”

Wochit’s interactive and intuitive 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.