Swiss investment firm deploys Appian RPA in the cloud to support operational excellence through automated and unified workflows

Appian today announced that Vontobel, a globally operating financial expert with Swiss roots, is deploying Appian Robotic Process Automation (RPA) across the company to accelerate its business transformation and automation initiatives. Vontobel began using the Appian Low-Code Platform in 2016 to streamline operational business processes from front-line customer service to back-office governance, risk, and compliance.

The Appian platform architecture allows Vontobel to add Appian RPA capabilities in the cloud to the bank’s on-premise Appian deployment: the RPA bots run on-premise to automate tasks and update records, while the management and orchestration of bots remains in a secured local cloud. As such, all sensitive customer data remains on-premise and in full control of the investment firm, meeting the region’s stringent data privacy and protection laws. Adding Appian RPA provides Vontobel with a complete automation solution, enabling them to scale and grow the business efficiently and securely on one platform.

The Zurich-headquartered investment firm is specialised in wealth management, active asset management and investment solutions. Appian RPA automates Vontobel’s manual processes for handling investment assets, banking products, and other operational workflows. The bots make a significant contribution to reductions in process times and operating costs, while also improving data quality for the bank. In addition, Appian RPA monitors all bots and automated processes with real time analytics and dashboards, enabling Vontobel to have better operational oversight for risk management and regulatory compliance.

Vontobel can create Appian bots with low-code visual design and deploy them quickly, knowing that no business data needs to go through the cloud but rather, stay in Vontobel’s on-premise environment. Additionally, Appian RPA allows a quick and easy implementation in Vontobel’s existing IT architecture with seamless integration.

As part of the Appian Low-Code Platform, Appian RPA enables the rapid scaling of robotic process automation across the enterprise at a low total cost of ownership. Based on Appian’s license model, Vontobel can build an unlimited number of Appian RPA bots for a flat fee and deploy them on Windows and Linux environments for greater flexibility and higher Return of Investment (ROI).

“We are very proud that Vontobel chose Appian RPA to automate their mission-critical processes and continue to partner with us on their business transformation journey,” said Dirk Pohla, Regional Vice President of Appian DACH. “Together with Vontobel, we have demonstrated that Appian RPA as part of the Appian Low-Code Platform can bring significant value and deliver impact quickly to benefit any organisation, regardless of their choice to go with an on-premise or cloud-based deployment model.”

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On-Demand Liquidity (ODL) goes live; Strengthening RippleNet’s presence in the MENA region

Ripple, the leading provider of enterprise blockchain and crypto solutions for cross-border payments, announces the launch of RippleNet’s first-ever On-Demand Liquidity (ODL) deployment in the Middle East, together with Pyypl, the international blockchain-based financial services technology company in the Middle East and Africa.

ODL leverages XRP, the best digital asset for payments, for instant and low-cost cross-border payments, eliminating the need for costly pre-funded accounts.

Ripple was the first enterprise company to leverage crypto to tackle the trillion-dollar challenges with cross-border payments. By using ODL, financial institutions and Small-and Medium-Sized Enterprises (SMEs) can now leverage previously trapped, pre-funded capital to grow and scale their business.

“MENA continues to be a critical region for Ripple thanks to our outstanding roster of customers, a welcoming regulatory environment and a regional focus on the needed improvements in the current financial system,” said Brooks Entwistle, Managing Director of RippleNet in APAC and MENA. “The establishment of yet another first-in-market ODL launch demonstrates the understanding that digital assets will play a central role in the future of global payments. We are delighted to partner with forward-thinking companies, like Pyypl, to ensure we can continue to break the status quo in the current global financial system to continue delivering the best experience for customers.”

The Middle East contains two of the world’s three largest remittance corridors with the UAE and Saudi Arabia, handling a combined $78 billion in payments in 2020. The region has also experienced a rapid transition to digital in the last year making it a market that is primed for fintech innovation.

Antti Arponen, Co-Founder and CEO of Pyypl, commented “We’re excited to be Ripple’s first partner of choice to bring the deployment of ODL to the Middle East. This enables our ever-increasing number of users to deliver remittances instantly and cost-effectively. We’ve also reduced our inefficient use of capital through ODL, and look forward to an exciting rollout of its capabilities across the region.”

Pyypl has started with ODL in the Philippines and has plans to expand to new markets as well as exploring additional use cases. XRP will not be held within the UAE and transactions will not involve the currency AED as part of the payment flow. Pyypl is licensed by ADGM’s Financial Services Regulatory Authority.

Supported by the establishment of a new regional HQ in Dubai in 2020, Ripple already has a significant presence in MENA and is now witnessing 4X growth in transaction volume YTD compared to 2020.

RippleNet continues to see traction around the globe. In APAC, Ripple announced its first-in-market ODL corridor in Japan, in partnership with SBI Remit, and acquired a 40% stake in Tranglo in Malaysia to expand the availability of its ODL service.

RippleNet leverages crypto and blockchain technology to help partners across a global network accelerate their business performance and scale. It delivers a superior end-customer experience, simplified network partnering, liquidity management solutions, lines of credit, and state-of-the-art infrastructure to enable real-time payments.

Renaissance Insurance handles hundreds of insured events every day, and one of the essential elements of this process is calculating damages to vehicles. Up until now, only experts – Company employees or contractors making independent assessments – were involved in  calculating damages. This ensured that the calculations were of high quality, but there were  always certain limitations when it came to the speed and cost of making these calculations. 

After conducting large-scale and detailed testing, carried out on hundreds of cases, the Company decided to begin using an AI service provided by Mains Lab to calculate damages in its  commercial operations. The technology is based on computer vision: which parts of the vehicle  have suffered damage and the degree of damage are determined; hidden damages and the  need to remove or install additional parts for repairs are predicted; catalogue numbers are  updated; the vehicle identification number (VIN) is identified; odometer readings and  information from registration documents are discerned; the amount of necessary repairs is  determined; and a calculation is prepared. The incorporation of this technology will further  improve the level of customer service by speeding up the claims process and improving  operating efficiency. 

“Innovative solutions will have a significant impact on business in the current climate. At the  same time, we are changing the essence of the customer experience, as we are reducing the  amount time customers have to wait for payment or for their car to be repaired”, says Vladimir  Tarasov, Vice President of Renaissance Insurance.  

Sergey Khudyakov, one of the co-founders of Mains Lab, said: “Our colleagues from  Renaissance Insurance have very stringent requirements when it comes to the quality of the  claims process. As our solution was being tested over several months, we got constant  feedback from our colleagues, which enabled us to quickly refine the technology for use by the  insurance company. I am confident that, if a car owner has an accident, our joint product will  make their life a little bit easier.” 

Creatio, a global software company that provides a leading no-code platform for process management and CRM, has been named in the Now Tech: Marketing Platforms, Q3 2021 published by Forrester Research, Inc. The recent report from Forrester is designed to help readers understand, identify and acquaint themselves with the vendors that best align with their business technology needs. Creatio is one of 28 vendors included in the report. 

According to Forrester, one of the most influential research and advisory firms in the world, “Companies invest in a MAP for a variety of reasons: to accommodate business and personal consumers’ inexorable preference for a self-directed digital-first journey; to improve their utilization of digital marketing techniques; to standardize their customer-facing process; to align sales and marketing; or just to increase revenues.”

The evaluated product, Marketing Creatio, is a multichannel marketing automation platform that helps organizations to streamline lead-to-revenue cycle with no-code. Marketing Creatio offers powerful capabilities for segmentation and audience management, end-to-end lead engagement, omnichannel campaigns, ABM workflows, AI/ML models to increase conversions and pipeline contribution, improve productivity and efficiency of go-to-market teams.

Marketing Creatio can be used as a standalone product or as part of the unified no-code CRM platform to accelerate sales, marketing, service and operations.

“More than ever, it’s critical for organizations to develop, nurture and sustain strong relationships with their customers,” said Andie Dovgan, Chief Growth Officer at Creatio. “We are honored to be included in the Now Tech report by Forrester Research, which we believe demonstrates our continuous drive to provide our customers with the tools needed to facilitate customer engagement excellence.”

Confluence Technologies, Inc. (“Confluence”), a global technology solutions provider helping the investment management industry solve complex investment data challenges, today announced it has expanded its partnership with a large Midwest insurance and multi-strategy investment firm that will utilize Confluence’s cloud-based Revolution platform for its 18f-4 derivatives and risk monitoring needs.

The multi-strategy firm which already uses Confluence’s Unity NXT Regulatory Reporting platform, will implement Confluence’s Revolution platform to provide a comprehensive solution compliant with the SEC’s updated 18f-4 framework requiring heightened disclosures and monitoring of derivatives exposure. With a focus on risk and regulatory oversight, this enhancement will provide the firm with a comprehensive suite of services including back testing, stress testing, board reporting, derivative and risk monitoring, and more.

Confluence’s 18f-4 solution has been built for automation and scale so that clients can reduce the risk of inaccurate or inconsistent filings, while providing checks and control over the entire reporting process.

Revolution’s ability to provide risk and regulatory capabilities, as well as performance measurement and attribution analysis, offers clients a fully integrated experience including robust data control and validation tools within a scalable cloud-based environment. The multifaceted nature of the offering means clients can streamline all their regulatory risk reporting needs, enabling them to focus on what is most important: adding value for their own clients.

“We’re excited to expand our regulatory reporting offering as the United States’ regulatory regime catches up to that of Europe in this area,” said Todd Moyer, Confluence’s President and Chief Operating Officer. “Confluence is helping firms comply with these new, complex rules using our trusted products that bring the front, middle and back office together. Utilizing our Unity NXT Regulatory Reporting and Revolution platforms presents a unique opportunity for firms to deliver unprecedented capabilities to their own clients, and we’re looking forward to continuing our partnership.”

• Retailers using Stripe can now seamlessly integrate Klarna’s payment methods in all markets where Klarna is active.

• Klarna uses Stripe’s infrastructure to accept credit card payments from consumers in the US and Canada.

Klarna, a leading global retail bank, payments, and shopping service, today announced a strategic partnership with Stripe, a global technology company building economic infrastructure for the internet. Retailers using Stripe can now activate Klarna as the preferred payment method in their checkout within minutes, providing a superior shopping experience to consumers. 

Koen Köppen, Chief Technology Officer at Klarna: “Over the past years, Klarna and Stripe redefined the e-commerce experience for millions of consumers and global retailers. Together with Stripe, we will be a true growth partner for our retailers of all sizes, allowing them to maximize their entrepreneurial success through our joint services. By offering convenience, flexibility, and control to even more shoppers, we create a win-win situation for both retailers and consumers alike.” 

Will Gaybrick, Chief Product Officer at Stripe: "We're thrilled to partner with Klarna so millions of businesses on Stripe globally can offer increased payment flexibility. Klarna’s payment options are a powerful tool for online businesses to attract more customers, boost conversion rates, increase basket sizes, and thus grow their revenue.”

The first results of retailers using Stripe show that the integration of Klarna’s payment method led to an average 27% increase in sales. On average, retailers using Klarna see a 41% upsurge in average order volume and a 36% increase in purchase frequency - which subsequently led to an increase in revenue. Additionally, some retailers experienced that 40% of Klarna shoppers are new to their brand, demonstrating that Klarna’s rapidly growing consumer app with more than 18m monthly users has become a true lead generator. 

Alex Nazarevich, Vice President Growth at INDOCHINO: “Through the Klarna and Stripe partnership, we were able to get up and running quickly with a tailored service that met our needs perfectly.”

In addition to enabling retailers already using Stripe to activate Klarna in their checkout, both companies have also announced plans to strengthen the partnership even further. Stripe is now Klarna’s preferred payments partner for consumer purchases pre-funded by Klarna in the US and Canada. Tests with Stripe’s services have resulted in significantly improved performance rates. For that reason, Klarna has shifted more payment processing volume to Stripe than initially planned, and partners with Stripe for the majority of its payments volume in the US and Canada.  

Admix, the leading In-Play monetization company that bridges the gap between gaming content and brands, today announces that it has raised USD $25 million in a Series B round to scale up its In-Play solution worldwide; and establish it as the content monetization layer for the metaverse.

Arriving just one year after Admix's Series A round, this latest raise is the largest secured by any non-intrusive games monetization company and brings Admix's total funding to USD $37 million. Participating in the Series B round are renowned VCs Elefund, Force Over Mass, DIP Capital, Notion Capital, Speedinvest, Rocket Capital, Colopl Next, Sure Valley Ventures and Sidedoor Ventures as well as growth investor Kuvi Capital and angels from the gaming industry.

Founded in 2018, Admix pioneered In-Play advertising; an unrivalled solution that bridges the gap between brands, creators and advertisers using non-intrusive product placements integrated inside video games. Over 300 global games and thousands of advertisers currently use Admix's end-to-end platform which utilizes drag and drop SDKs for game publishers to integrate into their games, a platform for advertisers to access the gaming world, independently verified measurement and data reporting. The company has recently made key hires in the Americas and APAC where its presence will now be expanded further.

The first phase of Admix's development has proven its commercial model, which is on track to deliver 1,000% year-on-year revenue hypergrowth. This fresh capital is set to power Admix's evolution as a set of monetization tools for the new creator economy, and its second critical phase of product development that will set standards in the formative metaverse. In building the technology and tools to empower creators to make money from their content, Admix will iterate on its state-of-the-art proprietary rendering technology which can digitally inject complex 2D or 3D constructs into any 3D environment, with zero impact on virtual world engine performance.

Samuel Huber, CEO and Co-founder at Admix, commented:
"We're delighted to have secured this substantial funding round which signifies the start of Admix Phase 2. This funding round validates the incredible hard work which the entire team has worked so tirelessly to reach. We see the internet entering a new stage: Web 3.0 or the metaverse, characterized by real-time 3D interactions and a new creator economy, spearheaded by the video games industry. We are establishing In-Play as the monetization layer for gaming and the metaverse. While many players in our industry are essentially agencies, Admix is building critical infrastructure for creators to monetize their content in the best way possible."

Admix COO and Co-Founder, Joe Bachle-Morris, added:
"This Series B round - the most significant in our industry by far - comes at a time when household name brands and some of the highest-grossing games ever are joining either end of the Admix ecosystem. Research we released last week demonstrates just how hot an area this is for brands, with 93% of media buyers intending to conduct an In-Play campaign within the next few years. We've built an unbeatable tech stack, proved our model commercially and recently put boots on the ground in North America, LATAM and APAC, where our presence will now be ramped up. Admix is at the forefront of gaming as a media channel and we're excited to be able to put even greater firepower behind creating the infrastructure that will enable our creators and clients to maximize the opportunity."

Serik Kaldykulov, Founder and Managing Partner at Elefund, commented:
"Sam and Joe are exactly the type of founders we want to work with at Elefund. They created Admix and In-Play with their incredible vision for the future of digital gaming, and we believe that they will continue to play a significant role in shaping how consumers and businesses exist and interact in what the world will come to know as the metaverse."

Lucas Stoops, Investment Manager at Force over Mass Capital, commented:
"We are delighted to invest in Admix again. This Series B shows the wider market is waking up to new monetization tools. The investment will allow Admix to continue to innovate with its platform, enabling developers to monetize their games and advertisers to reach a new and growing audience."

Admix is experiencing hypergrowth driven by unprecedented inbound and direct sales and has doubled in size to more than 80 staff this year. It has recently signed deals for In-Play campaigns  with Calvin Klein, Schuh, Movember and Sky.

Work carried out to make sure solicitors keep criminals from using the profession to launder money has been detailed in a new review.

We have published our first professional supervisor report, a recent requirement placed on all supervisors by both the Money Laundering Regulations and guidance by the Office for Professional Body Anti-money laundering Supervision (OPBAS) and HM Treasury. It sets out work over the last 12 months to help firms make sure their processes are effective and followed properly. That includes action taken against those firms that failed to take their obligations seriously.

A total of 85 firm visits took place, offering guidance on issues such as tax advice (the definition of which was expanded by the regulations this year) with another 168 desk-based reviews taking place. The most common reason for non-compliance with the anti-money laundering regulations was not having a proper risk assessment in place for AML matters, while other issues included poor client due diligence and checks on the source of funds.

A failure of staff to follow procedures, inadequate training or supervision, and poor policies were other reasons for breaches of the regulations.A There were 273 reports of potential AML breaches made to us. Twenty-nine enforcement actions resulted in total fines of £160,000 being issued. We also made 39 suspicious activity reports (SARs) to the National Crime Agency.

Anna Bradley, Chair of the SRA Board, said: ‘Money laundering allows some of the worst crimes in society to be profitable. Our commitment to stamping it out is clear.

‘I know from our discussions with local law societies that meeting their obligations is something that matters a lot to the profession. The overwhelming majority want to do the right thing, but there is still a small but nonetheless significant proportion of firms which are just not doing enough to prevent money laundering. As well as allowing criminals to profit from their actions, they undermine the trust consumers place in the profession, damaging confidence in the rule of law and the administration of justice.

We take our role as an AML supervisor very seriously, as this review of our work in 2020/21 demonstrates. I would urge all firms and solicitors to take the steps needed to meet their obligations.’

In its latest threat assessment, the National Crime Agency (NCA) estimates that at least 70,000 people are engaged in serious organised crime in the UK, with upwards of £12bn in criminal cash generated annually.

Our report says that more than 6,500 firms are captured by the scope of the AML regulations, with the work of 23,430 relevant individuals specifically of interest.

The UK’s oldest and largest Islamic bank, Al Rayan Bank PLC chooses RegTech platform from  TruNarrative, part of LexisNexis® Risk Solutions, to provide individual & business onboarding and  end-to-end fin-crime strategy 

Al Rayan Bank has procured customer onboarding and fraud  prevention technology services from UK based regtech firm, TruNarrative, part of LexisNexis® Risk  Solutions. The decision is part of the Bank’s digital transformation programme and will see the  TruNarrative platform integrated with Al Rayan Bank’s existing technology to facilitate delivery of  their Sharia compliant banking services in the UK. 

Founded in 2004, Al Rayan Bank offers Sharia compliant savings and property finance to over 90,000  business and individual customers in the UK. Al Rayan Bank is the only Islamic bank in the UK to  receive a public rating. 

TruNarrative delivers its regtech solution to firms across Europe and North America, the Middle East  and Asia. The technology is accessed via a single API and enables businesses across banking, lending,  ecommerce and payment services to streamline and automate processes. 

Al Rayan Bank went to market for a solution or solutions to facilitate their consumer and business onboarding and financial crime prevention strategy, whilst supporting the wider digital  transformation of the Bank. 

The TruNarrative platform will integrate with Al Rayan Bank’s existing tech stack, including their core  architecture and Digital Banking platforms. 

Al Rayan Bank will use the TruNarrative platform to access a range of capabilities across onboarding  and transactional risk, including financial crime prevention, money laundering detection, identity  and biometric verification, multi bureau KYC (know your customer), KYB (know your business), PEPs  (politically exposed persons) and sanctions and anomaly detection. 

TruNarrative will enable Al Rayan Bank to combine multiple data points from third party data  sources into a single customer view for dynamic risk rating and periodic review. 

Al Rayan Bank will be able to remotely onboard their personal and business customers using the TruNarrative document and selfie capture solution, helping to keep Al Rayan Bank’s customers safe  and delivering to the Bank the latest in biometric onboarding technology. 

“We chose the TruNarrative platform to deliver this phase of our digital transformation strategy,”  said Imran Pasha, Chief Operating Officer of Al Rayan Bank. “Their technology means that we do  not have to piece together this part of our tech stack from multiple different suppliers, giving us end  to end onboarding and fin-crime in one place with full audit trail and reporting.” 

Through TruNarrative, Al Rayan Bank will be able to utilise international payment screening to  monitor customer transactions. Using beneficiary information and sanction screening the bank will  be able to determine a risk score of a transaction, helping to prevent fraud and money laundering. 

Al Rayan Bank will also make use of TruNarrative’s market leading integration with Cifas, the UK  national fraud database, enriching fraud investigations with access to known and suspected fraud  cases.  

TruNarrative’s central visibility and reporting capability, enables Al Rayan Bank to detect and deliver  robust risk scoring and intuitive case management. Streamlining process for their inhouse 

onboarding and financial crime teams and delivering full audit trail, Management Intelligence (MI) and reporting to the bank. 

“It’s great to be working with Al Rayan Bank, helping them grow and maintain their ethical, Sharia  compliant business model,” said Edward Vaughan, Head of Banking of TruNarrative. “We look  forward to working with Imran and the team to provide them with our robust financial crime  prevention and customer onboarding technology.”

VEON Ltd., a leading global provider of connectivity and internet services, and Amdocs, a leading provider of software and services to communications and media companies, announce that they have signed a seven-year agreement that will enable innovative digital services for VEON customers in Uzbekistan and Kazakhstan. 

The agreement is expected to lay the foundation for VEON’s Beeline mobile operators in Uzbekistan and Kazakhstan to launch transformational digital services and personalised experiences. This will happen by deploying Amdocs’s microservices-based monetisation and commerce suites, using technology based on cloud-ready architecture.

VEON Group companies, through their unique digital operator strategies, serve their consumer (B2C) and enterprise (B2B) customers with advanced financial, entertainment and data analytics-based services.  As of 30 June 2021, VEON Group, operating in 9 countries with 213.7 million subscribers served 18.8 million users with digital content and 19.4 million with digital financial services, while supporting tens of thousands of merchants by helping them to digitalise their customer reach and services.  VEON Group companies also reach a total of 28 million mobile users through self-care mobile apps.

“VEON is embarking on a journey to be a world-leading digital operator,” explains Kaan Terzioglu, CEO of VEON Group. “The ability to innovate, provision and adapt the digital services we can offer our customers is at the core of this journey.  Amdocs is a long-term trusted partner of VEON and will accompany us on our way to digital innovation.  This agreement will give us the business agility and IT velocity we need in our digital operator transformation.”

“We are delighted to expand our long-term relationship with the VEON Group for the benefit of their customers in Uzbekistan and Kazakhstan,” says Shuky Sheffer, President and CEO of Amdocs Management Limited, “The seamless introduction of new digital services, with fast time to market and personalised experiences, will enable consumers in these markets to take advantage of the next-generation of communication and media experiences, as well as lay the foundations for future growth and innovation.”

Under the agreement, Amdocs will provide new monetisation, service and network automation solutions, catalogue management, commerce and care systems, as well as enable new multi-channel front ends for digital services.

Uzbekistan and Kazakhstan represent fast growing markets for VEON under the Beeline brand.  As of [30 June 2021], of VEON’s 6.7 million customers in Uzbekistan, over 56% are 4G subscribers with access to digital services, while in Kazakhstan over 58% of its 10 million customers use 4G services.