Provides Robust Remediation Against Ransomware, Rapid Recovery, and Greater Business Continuity for VMware-based Clouds Globally

Rackspace Technology®, a leading end-to-end, multicloud technology solutions company, today announced a strategic partnership with Cohesity, a leader in next-gen data management, to deliver multicloud managed backup and recovery solutions for Rackspace Technology customers globally. Under the partnership, Rackspace Technology will offer customers Rackspace Data Protection, a high-performance, software-defined Cohesity-Powered backup and recovery service that delivers cyber resilient managed backup and recovery across VMware-based clouds.

Cohesity DataProtect is the foundation of the Rackspace Data Protection solution which includes backup and recovery for VMware workloads and options such as advisory services and ransomware anomaly detection and remediation services. Rackspace Technology customers leveraging Rackspace Data Protection can gain access to several critical next-gen data management and protection advantages and efficiencies including:

•   A Single, Simple Solution – Rackspace Data Protection simplifies global backup and recovery by replacing multiple point products with a single solution for on-premises or multicloud high-performance backup and recovery. It also allows organisations to protect and manage traditional and modern data sources from a single, global UI.
•   Ransomware Remediation – Immutable snapshots help prevent ransomware from encrypting backup data, while machine learning-based anomaly detection can help uncover hidden threats and can play a key role in alerting customers to potential cyber attacks.
•   Rapid Recovery at Scale – In the event of a cyber attack, natural disaster, or human error, fully hydrated snapshots can allow user admins with the right privilege to rapidly restore data at a granular level and applications to any point in time.
•   Scaling While Shrinking Data and Storage Footprint – By eliminating complex and expensive on-premises forklift upgrades, organisations can easily scale without disruption. In addition, Rackspace Data Protection can optimise storage capacity and data mobility with global variable-length deduplication and compression to reduce customers’ data footprints and attack surface.

“The partnership with Cohesity gives our customers access to a proven, robust data protection solution that eliminates legacy backup silos and provides comprehensive protection against the array of rising data threats they are facing, including ransomware,” said Josh Prewitt, chief product officer at Rackspace Technology. “Customers can now manage and control data recovery from a single source, more efficiently store data, and eliminate potentially costly disruptions.”

Rackspace Technology is an industry recognised leader in providing VMware-based cloud services. Adding Cohesity’s data protection layer with integrated VMware Cloud Director (vCD) will help unify the efforts of SecOps and ITOps to better combat cyber threats and empower customers with self-service management. The managed service helps assure Rackspace Technology customers that their data and workloads running on VMware infrastructure are more resilient than ever.

“We are excited to engage in this partnership as it really addresses customers’ number one concern today, developing cyber resilience so they can quickly defend and if needed, rapidly recover data in the event of a cyber attack,” said John Theberge, vice president, global alliances, service providers and GSIs, Cohesity. “Our next-gen data management capabilities, including DataProtect, give Rackspace Technology customers a simple and powerful solution that can enhance their security posture, advance protection, and improve their business resiliency.”

Wealth managers can offer clients fractional access to a full suite of private market assets, helping them gain a competitive advantage over platforms with only public market products

Wealth managers can now introduce more of their end-investors to the world of private investments through a newly-launched institutional service on digital securities exchange ADDX. Corporate treasuries and family offices can also take part in the space via a corporate service to diversify their portfolios through private market products. 

Both services fall under a new product line for businesses, called ADDX Advantage. Among some of the first institutions to come on board as partners include StashAway, Southeast Asia’s fastest growing digital wealth manager, and CGS-CIMB, a leading securities brokerage in Asia.

Wealth managers utilising this institutional service can offer their clients fractional access to private market products, which better enhances portfolio diversification away from public markets exposure. This service is designed for brokerages, private banks, external asset managers and multi-family offices. Through a B2B2C model, the service ultimately benefits the wealth manager’s end-clients, who may be individual accredited investors or corporate investors. 

Currently, wealth managers looking to offer private market products to their end-clients have to negotiate deals with each issuer separately – a time-consuming process. Being on ADDX means an instant plug-in to a full suite of deals across multiple asset types. The use of blockchain and smart contracts on ADDX also enables the fractionalisation of opportunities down to a minimum of US$10,000, from the US$250,000 to US$5 million typically required when going direct to private market issuers. The lower barrier to entry makes it possible for end-clients to manage risk by spreading their capital across a variety of products.

Depending on the regulatory licenses the wealth managers hold, they can choose between two types of institutional services. They can either execute trades and perform fund transfers on behalf of end-investors, or create sub-accounts in their end-clients’ names and allow the clients to take control of their own activity on ADDX.

CGS-CIMB Group CEO Carol Fong said: “We believe that investments should be made more affordable to a wider group of investors. This means collaborating with platforms such as ADDX that allows more investors to access previously out-of-reach private investments with fractional ownership. This is a start to ‘democratise’ the private equity market to make it more inclusive.”

ADDX’s corporate service operates under a B2B model and is designed for institutional investors, as well as businesses investing their own capital, such as corporate treasuries and family offices. For example, corporate treasuries with excess cash on hand may now benefit from short-term investment instruments that pay a higher return than bank fixed deposits. A three-month commercial paper with a yield of 2.3% p.a. by the SGX-listed ValueMax is currently listed on ADDX. Family offices, on the other hand, often have longer horizons and more sophisticated investment strategies. They may prefer a wider range of products, including opportunities with higher risk-reward profiles. For them, the lower minimum investment sizes on ADDX can help them build optimal portfolios, narrowing the handicap they traditionally face due to their smaller pool of investable capital vis-à-vis large institutional players like sovereign wealth funds and pension funds. 

ADDX CEO Oi-Yee Choo said: “ADDX was founded with a vision of democratizing private markets for individual investors.  Our B2C experience has shown us how investors now have the platform to accumulate a diversified private markets portfolio powered by our technology. We would like to expand our approach to tailoring private markets for more efficient access to our partners in the wealth management space.”

Ms Choo added: “Corporate investors and family offices too face serious pain points in the market. We had the solutions to these problems, having built an efficient platform for individual investors with a steady stream of deals. The last mile was building the technology to serve institutional and corporate investors, which required time and investments, as their needs are more complex – ranging from API connections to multi-user access.”

“For ADDX, this latest move represents an important strategic pivot that strengthens the competitiveness of our exchange by expanding and diversifying our investor base. This will better equip us to attract high-quality issuers to list on ADDX, knowing there will be sufficient investor demand. As an exchange, our goal is to ensure a critical mass of both issuers and investors at the table, so that capital can find worthwhile investment projects, and vice versa. In launching private market services for wealth managers and corporate investors, we have made a long stride towards this goal,” she said.

Established in 2017, ADDX uses blockchain and smart contract technology to automate manual processes that have thus far made it inefficient for private market securities to be distributed to a large number of investors. The efficiencies from tokenising these securities enables ADDX to reduce minimum investment sizes to US$10,000. Asset classes available on the ADDX platform include private equity, venture capital, private debt, real estate, hedge funds, cryptocurrency funds, and structured products. ADDX has listed 26 deals to date, working with blue-chip names such as Partners Group, UOB, Investcorp, CGS-CIMB, as well as Temasek-owned entities Mapletree, Azalea and SeaTown.

Table 1: Comparison of Institutional and Corporate Service

• Product Reviews
• 08.04.2022 02:46 pm

What does the product do? 

Medius AP Automation provides efficient invoice management, removing manual tasks and enabling fully automated, touchless invoice processing. The solution transforms supplier invoices of all types into one standard digital format, regardless of their origin. 

Medius combines automated data capture and intelligent data extraction technologies to help automate invoice and payment processes, and detect anomalies that could lead to fraud and risk, and increases visibility into critical finance metrics.     

Who needs the product?     

Now, more than ever, businesses are falling foul to invoicing errors and fraudulent invoice claims as they undertake their AP processes. Less than half of all organizations can measure key AP metrics, and 57% of finance professionals say that invoice and payment processes take too long. Every business requires AP automation software to future-proof its long-term strategies. 

What is special about the product?  

By using Artificial Intelligence (AI), optical character recognition (OCR), and leading technologies, Medius AP Automation electronically captures, digitizes, and processes invoices within the unique Medius accounts payable platform – regardless of their format.    

The solution stops inefficient, manual processes to increase straight-through processing, only stopping to highlight anomalies that can lead to risk and fraud.

The AP Automation software also synchronizes all invoice data from the company’s ERP or accounting system – from supplier details to payments -ensuring accurate, real-time information for critical financial insights. 

What features are relevant?   

• The native Medius data capture solution is thorough in extracting data automatically. Powered by Medius’ ‘touchless capture’ technology, AI removes guesswork and risks of error, and learns throughout the process so you only have to correct errors once. Medius archives original invoices – removing the need to rummage through cabinets when auditing. 

• Automatic three-way matching allows businesses to resolve discrepancies between invoices, POs, and receivables. With this feature, a company can safeguard assets, avoid fraudulent invoices, and ensure correct payments. 

• Medius also manages the coding and routing of non-PO invoices through the digital workflow, based on the specific logic and rules configured by the business user. AI allows the system to adapt to patterns and historical transactions to make suggestions, and further automate the process.

• The software includes Medius Pay for a single vendor payment process that allows for multi-channel payments to all domestic and international suppliers. 

• Predefined reports, out of the box analytics, and KPIs give businesses a complete view into how money is spent and how to manage cash flow. This spend data provided by Medius doesn’t just stop at analytics but also extends to advice – with Medius providing a dedicated success portal and never-outsourced customer support for ongoing help. 

• Medius AP Automation integrates with any organization's ERP or accounting system to connect solutions across the procure-to-pay lifecycle. Integrations include Microsoft Dynamics, SAP, and Infor. Integration makes it easy for IT teams to onboard AP Workflow Automation, managing the systems and processes with a predictable timescale and resource set.     

What are some real case examples?   

1. Dynapac

2. Reily Foods USA

OutSystems, a global leader in low-code application development, today announced it was recognised as the Customers’ Choice in the latest Gartner Peer Insights “‘Voice of the Customer’: Enterprise Low-Code Platforms” report, based on user reviews and feedback. OutSystems is the only low-code platform provider recognised both by users in the Gartner Peer Insights report three times in a row and by Gartner as a Magic Quadrant™ for Enterprise Low-Code Application Platforms Leader.

The Gartner Peer Insights “Voice of the Customer” report represents more than one thousand global user reviews from IT decision-makers over an 18-month period ending December 2021. Through comprehensive validation and authentication processes, verified customers shared the following about OutSystems:

• “A must have technology in your toolkit.”
• “The perfect low code platform to quickly adopt and implement.”
• “The ease of DevOps tasks helps to reduce the overall time to get applications in the hands of the users.”

Gartner forecasts that 70% of new enterprise applications will be developed using low-code or no-code technologies by 2025.² Cross-industry business challenges continue to drive this acceleration as more businesses seek to develop applications and solutions for a variety of digital transformation initiatives – from applications that support new customer and employee onboarding experiences, to transforming the workplace in times of change, and significant updates to legacy technologies.

"The feedback from our customers is clear - OutSystems delivers the highest levels of performance and developer experience enabling customers to build applications focused on business value," said Paulo Rosado, CEO and Founder of OutSystems. “The voice of the customer is the voice that drives our innovation every day. Since the launch of the Peer Insights platform, users have shared more positive reviews (more than 600 and counting) of OutSystems than of any other low-code vendor. Not only does this reflect the passion of our customers and community, but it demonstrates our unwavering focus on pushing well beyond the limitations of other low-code solutions in the space.”

OutSystems pioneered the low-code category, having introduced its first platform in 2002. Since then, the company has amassed a global install base comprising high-performance development teams who are building mission-critical applications designed specifically for their business. OutSystems customers span large enterprises to small- and medium-sized businesses across nearly all industries – from banking and manufacturing to energy and healthcare.

Users have rated OutSystems as a Customers’ Choice not only in Gartner Peer Insights “Voice of the Customer”, but they also recently named OutSystems one of the top 20 “Best Development Products for 2022” on the market by G2. The G2 ranking pulls from verified peer reviews of various software development solutions, including on-premise and SaaS tools for businesses to track and manage the software development process.

An example of the company’s solutions can be seen in customer stories, such as Clark University, which leveraged the OutSystems platform to build a mobile app and web portal called “MI Peace” to support mental health among students. 

Read a complimentary copy of the Gartner Peer Insights “‘Voice of the Customer’: Enterprise Low-Code Application Platforms” report here.

Peer Insights Voice of the Customer Report

The “Voice of the Customer” is a document that synthesizes Gartner Peer Insights’ reviews into insights for IT decision makers. The aggregated peer perspective, along with the individual detailed reviews, is complementary to Gartner expert research and can play a key role in the buying process, as it focuses on direct peer experiences of implementing and operating a solution.³

Gartner Disclaimers – Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

Gartner Peer Insights Customers’ Choice constitute the subjective opinions of individual end-user reviews, ratings, and data applied against a documented methodology; they neither represent the views of, nor constitute an endorsement by, Gartner or its affiliates.

Gartner Peer Insights content consists of the opinions of individual end users based on their own experiences with the vendors listed on the platform, should not be construed as statements of fact, nor do they represent the views of Gartner or its affiliates. Gartner does not endorse any vendor, product or service depicted in this content nor makes any warranties, expressed or implied, with respect to this content, about its accuracy or completeness, including any warranties of merchantability or fitness for a particular purpose.

Gartner, Magic Quadrant, and Gartner Peer Insights are registered trademarks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.

The largest no-code marketplace that connects 5,000 companies and 36,000 no-code developers will also help Ukrainian citizens. The company launched an app that connects those in need with those who can help in communities all over the world. 

WeLoveNoCode, the no-code marketplace, is announcing its $3 million funding round led by Mantis Venture Capital, with participation from K5 Global, Liquid2, CapitalX, Gaingels and Abe Burns. The marketplace expects to earn $24 million in ARR within a year, and as part of its response to the Ukrainian crisis, it will donate 10% of its margin income in March to help Ukrainians in need. 

The startup is founded by Nik Shevchenko who has built 15+ no-code apps himself. In 2019, he went through the 500 Startups starting to help companies build products with no-code. On 20th of December 2020 he launched WeLoveNoCode and received offers on $10,000 on the first day of launching on ProductHunt. Welovenocode uses the subscription monetisation model and has two offices in the United States and UK. The startup plans to invest new funds to strengthen its market position.

“In the coming future, more than 11 million of  software developers might either lose their jobs or be pressured to retrain to become no- or low-coders. I strongly believe that tech giants will eventually cease to dominate in the product area — any company in the world will be able to create comparable products with the help of no-coders who work way cheaper and faster. It is also our responsibility to support all Ukrainians and therefore we launch a new platform that will connect people in need with those who can help those in need,” notes Nik Shevchenko, CEO and founder of Welovenocode.

The global Low Code Development Platform market size is projected to reach almost $400 bln by 2027, 30.9% CAGR during 2021-2027. By 2024, 65% of all apps in the Western countries will be created by no-coders, more than half of IT services will be provided by alternative programming platforms. Currently, 90% of marketplace employers come from the United States, while 60% of developers come from Europe. Some of the projects developed by the coders employed through the platform include a B2B online community Revgenius and Near.org. 

We encourage you to fill out the contact information form https://standwithukraine-wlnc.com/ if you need assistance in Ukraine or if you want to help.

The Board of Directors of TCSGH Plc, the 100% shareholder of Tinkoff Bank, has today approved the transfer of shareholder’s authority over the Group’s Russian business to a Management Company, controlled by the Russian executive team of Tinkoff Bank, led by the Chairman of the Management Board and 15-year Tinkoff veteran, Stanislav Bliznyuk. These changes will come into effect after receiving all necessary regulatory approvals in Russia.

The ring-fencing of the Russian business facilitates the transfer to the bank’s executive team, consisting of Russian residents, the authorities required to ensure continued stable and efficient operations of the systemically important Tinkoff Bank and its affiliated companies, including Tinkoff Insurance, LLC TCS, LLC T-Finance, Tinkoff Mobile.

Commenting on the conclusion of the trust management agreement, covering powers and liability matters, Chairman of the Management Board of Tinkoff Bank, Stanislav Bliznyuk, said: “The bank’s management believes that at this time it is imperative for our Russian resident team to have full operational control over the Group’s Russian business in the best interests of our customers, shareholders and all stakeholders.  I have been working in Tinkoff Bank since 2006, as have my colleagues, and we are taking full responsibility for management of the Russian business going forward. For customers, regulators and shareholders alike, the trust management agreement that we have put in place will ensure the continued and stable operations of the bank and the other Russian operating companies. There can be no doubt about the team’s track record and what we are trying to deliver.”

 NYMBUS®, a leading provider of banking technology solutions, today introduced three new affinity-based fintech concepts available through Nymbus Labs. Each is ready to customize, launch and grow by any size bank or credit union seeking to rapidly open up their addressable market and serve a new niche community of consumers.

“To succeed in the digital economy, financial institutions need to think differently about their customers and truly understand what matters to them,” said Liz High, Executive Vice President of Nymbus Labs. “Our team provides the unique opportunity for banks and credit unions to quickly innovate and tap into niche audiences with fintech solutions tailored specifically to their needs. In doing so, we help them attract entirely new banking communities that serve the types of people who need it most.”

Each of the following niche fintech concepts from Labs comes with a targeted customer affinity; a unique, customizable brand; data-driven business case; marketing strategy; full operational support; and playbook for continued growth:

Activate – Research shows that by 2024, 2.5 percent of all homes in the U.S. will have a solar installation. Activate makes getting a competitive solar loan quick and easy through its community of like-minded people who support the planet.

With indirect loans accounting for 34.4 percent of the credit union industry’s loan portfolio, lending in the residential solar market through Activate is a niche opportunity available now to support new and future indirect lending business growth.

Métier – The online creative business community is growing rapidly, including 4.6 million people sellers who plan to start a business within the next 6 months. This niche of entrepreneurs requires personalized financial flexibility and support to thrive. Métier empowers them to grow their business while meeting personal financial goals in a way that traditional banking cannot.

Prospr – The future of U.S. agriculture depends on the financial success of young and beginning farmers. This niche represents a massive opportunity to advance farms and families by equipping young farmers with tools to manage cash flow, providing access to capital and supporting profitable, sustainable agriculture businesses.

“The Labs team has drawn extensive data to identify and understand important niche communities that remain relatively untapped,” said Jeffery Kendall, Chairman and CEO of Nymbus. “For financial institutions who are ready now to experiment, learn, and optimize business strategies to scale–this is your opportunity to partner with Nymbus and bring these fintechs to market.”

The Nymbus Labs methodology and team is poised to support these niche fintech concepts, as well as the continued development and successful growth for current customers including BankMD, ZYNLO Bank, FACILE, Billinero and Locality Bank.

The Nymbus Labs portfolio of niche fintechs includes over 25 banking concepts available today to customize, launch and grow.

For more information, please visit nymbus.com/labs/.

Alternative Investment Exchange (AIX), the platform making it easy to buy, own, and sell alternative investments, has onboarded Infinity Financial Services ("Infinity") to the AIX platform. Through this partnership, Infinity's alternative investing experience is transformed into one that is fast, simple, and intuitive. Gone are the days of completing paper documents by hand and manually tracking the unique requirements of each and every alternative investment provider. AIX works with each fund manager to ensure their requirements are factored into the experience, eliminating headaches for everyone involved. This integration enables Infinity to offer an all-digital experience – a game-changer for its advisors.

Infinity is a modernized wealth management firm designed to provide affiliated financial advisors flexibility and regulatory support of their practice management. The firm provides technology-based solutions to financial advisors who in turn can better serve their clients.

After meeting with AIX, Infinity was motivated to use the platform as a competitive edge. "The more financial advisors we recruit, the more assets we raise and the more revenue we generate, and so our business grows. That's the Infinity approach," explained Greg Gilbert, President and CCO of Infinity Financial Services. "Core money management is going to the investment advisory arm, and transaction is going over to the broker-dealer side. And by integrating with AIX, it will make it easier for financial advisors to sell."

"Infinity is very interested in creating a better digital environment for its financial advisors, and it's a differentiator for how the firm is going to recruit them," notes Brad West, AIX COO. "One example is the AIX platform, but Infinity has also connected AIX into Salesforce, making it a supercharged instance that's enabled for investment activities. This model fosters top line growth, powers the rep experience, provides a higher level of efficiency, and helps to de-risk all parties. This is accomplished by systematically enforcing compliance and providing a technology solution that protects client data through extensive data security controls. It creates a win for everyone involved."

Using the AIX platform, Infinity is able to provide disclosures in an orderly fashion and provide the training that's necessary to ensure advisors are protected. The regulatory mission statement from FINRA focuses on two key areas: investor protection and market integrity. To that end, Infinity works tirelessly to protect its investors, and the AIX platform enables Infinity to honor that.

"Our goal is to have financial advisors always be focused on revenue-generating activities. To help ensure that, the AIX platform combined with Infinity's integration on top of Salesforce in a single sign-on will be sure to improve advisor experiences across the board," Gilbert said.

Hirewell, Prytek’s Talent Solutions Division, has announced its acquisition of Rainmakers, a US recruiting platform exclusively aimed at top technology sales talent.

The acquisition forms part of Prytek’s strategy to create a tech-enabled talent ecosystem, and will enable Hirewell’s clients to easily connect with top technology sales talent via a digital marketplace.

For the last 20 years, Hirewell clients have created a competitive advantage through talent acquisition with Hirewell’s top-rated recruiters and flexible client engagement models. In 2021, Hirewell helped over 350 companies hire over 1,300 employees.

Since 2016, Rainmakers has quickly become a digital marketplace known for delivering top tech sales talent. The integration of Rainmakers into the Hirewell talent ecosystem will empower the digital marketplace with Hirewell’s industry-leading recruiting expertise while providing a self-service hiring option for Hirewell’s clients.

Andrey Yashunsky, Co-Founder and CEO of Prytek, said “We are delighted to be integrating Rainmakers into Hirewell. The recent additions of world class technology through Prytek will continue to fuel Hirewell’s rapid growth while contributing to Prytek’s vision to create industry and client impact through vertically-integrated value chains. Hirewell clients can now automate their tech candidate sourcing with next generation AI (Sourcewell), easily connect with top tech sales talent through a digital marketplace (Rainmakers), and continue to leverage Hirewell’s full-service recruiters as a part of one integrated talent experience.”

Matt Massucci, Founder and CEO of Hirewell, said “The talent acquisition space has evolved significantly over the past 20 years. Yet, technology has struggled to truly disrupt the industry. For job seekers, traditional job boards are too general and typically are black holes. Niche talent marketplaces offer professionals the ability to focus on roles that fit their interests. Rainmakers is the premier tech sales marketplace. It has become the go to place for companies hiring tech sales talent. And it saves sales people a lot of time and effort sifting through roles on the large job sites. We’re excited about Rainmakers joining Hirewell, and offering clients another alternative to finding great talent.”

Michael Ferguson, Co-Founder and CEO of Rainmakers, said “When the opportunity arose to partner with Hirewell, it was a no-brainer. Working with Hirewell will allow Rainmakers to significantly expand our sales talent marketplace while continuing to build out the Rainmakers technology stack, further cementing Rainmakers as the go to hiring platform for salespeople.”