Yeahka Limited ("Yeahka" or the "Company") (Stock Code: 9923), a leading payment-based technology platform in China, has surpassed others to become one of the most-used aggregate payment service providers by merchants in China.

Yeahka's interim results show, as of the first half of this year, the total number of active merchants using the Company's payment services has reached 6.13 million, up 30.8% year-on-year ("YoY"). Its daily peak count of QR code payment transactions has reached 42 million, compared to 30 million at the end of last year, leading to a rapid increase in its market share in the non-bank independent QR code payment services market. According to Oliver Wyman, Yeahka ranked second with a market share of 14% in China, according to the number of transactions in 2019.

Based on analysis of the latest open data of other key players, Yeahka has surpassed its competitors to become the largest non-bank independent QR code payment services provider by market share in China.

According to iResearch Consulting's 2021 China's Third-Party Payment Industry Report, published this June, the number of merchants covered by integrated payment services has reached 30.48 million, up 19.2% YoY, as of the first half of 2021. Serving 6.13 million merchants, Yeahka has a market share of approximately 20%.

Number of payment transactions through QR code is displayed real-time on Yeahka's official website (www.yeahka.com).

A payment method that integrates multiple relatively fragmented payments through the use of an integrated QR code, aggregate payment brings more convenience to both merchants and consumers. For a services provider, in addition to providing omni-channel payment services, leveraging its technical capabilities to provide value-added services is a crucial next step.

This is also the key to Yeahka's business - the steady and rapid growth of the payment business also propels another important segment for the Company, namely technology-enabled business services. According to Yeahka's interim report, the revenue of this segment increased 86.6% YoY to RMB360 million, and its contribution to the Company's gross profit increased to 43.5% from 34.9% in the same period of 2020, significantly higher than other players in the same field.

Utilized HK$119.8 million in share incentive scheme

Yeahka announced on 23 September that, as of 21 September 2021, the trustee of the Restricted Share Unit ("RSU") Scheme had utilized an aggregate of approximately HK$119.8 million to purchase 4,104,400 Shares from the market at a consideration of HK$26.30 to HK$30.00 per share to hold in trust for the benefit of the RSU participants pursuant to the rules of the RSU Scheme.

According to the announcement, the shares purchased will be rewards for the RSU participants in the RSU Scheme, as an incentive for their contribution to the Company. In addition, the share purchase pursuant to the RSU Scheme also demonstrates the Company's confidence in its business outlook and prospect. The Company will continue to conduct share purchases in the market based on market conditions.

Sovcombank, the 3d largest private bank of Russia, and Diasoft, the global provider of financial technology, have been announced winners of the 2021 IDC FinTech Rankings Real Results Award with the project for transformation of the bank’s financial markets business based on the modern composable Digital Q platform by Diasoft.

Now in its 7th year, the IDC FinTech Rankings Real Results Awards recognizes projects that have enabled a genuine, measurable, and future-enabling change in the worldwide financial services industry. This year, the prestigious accolade was awarded to six projects globally. The IDC FinTech Rankings Real Results program is part of the broader IDC FinTech Rankings program that evaluates the top global providers of financial technology. The program is an important measure of the health and direction of technology in the industry and the emergence of innovative solutions from new players. IDC Financial Insights publishes a comprehensive report about the year's findings that is available to view or download HERE.

The award recognizes the visionary approach of Sovcombank and Diasoft to the technological transformation of the bank’s growing business. Within the project, the Sovcombank Group transferred all the functionality from its proprietary software for accounting for financial markets deals to the modern enterprise-grade composable platform “Digital Q.FinancialMarkets” by Diasoft. The implemented platform automated more than 10 strategic LOBs of the Group and allowed the bank to quickly start launching popular investment products and new financial instruments. The whole project was completed in time regardless strict quarantine restrictions.

As the result of the project, Sovcombank and its subsidiaries migrated to the single database, consolidated financial markets accounting for the whole Sovcombank Group, reduced operational risks associated with regulatory requirements and ensured quick TTM for new instruments –

configuration of new non-standard products now takes about 2–3 days, ensuring quick launch of new LOBs. Due to support of modern architectural principles and microservices, Digital Q.FinancialMarkets provided Sovcombank with a reliable platform for its future business development.

Today, the bank successfully expands its market share in securities trading, brokerage and custodian services, develops wealth management services, and launches popular financial instruments, such as high-yield Eurobonds, structured notes with capital protection, derivatives, proprietary financial instruments, investment deposits, precious metals.

“2020 proved to be a year that tested the industry’s ability to stay resilient in the face of challenges on multiple fronts. This year’s IDC FinTech Rankings Real Results program describes examples of financial institutions and technology providers partnering to overcome those challenges in real, substantive ways,” said Jerry Silva, vice president at IDC Financial Insights. “IDC congratulates the vendors that stepped up to the demands of an unusual year of disruption and helped financial organizations get back to the business of innovation.”

Dynamic Planner’s Head of Psychology & Behavioural Insights Louis Williams, has been named as one of the eight Knowledge Transfer Partnership (KTP) Award’s Future Leader for 2021 Winners. 

Louis has worked with Dynamic Planner for two years, spearheading a cutting-edge behavioural science and investment initiative with Henley Business School, an alliance formed via the Government-backed KTP programme. The awards celebrate the best of KTP’s three-way partnerships between business, academic/research teams and qualified graduates, designed to drive innovation for UK businesses and organisations. 

Louis Williams, Head of Psychology & Behavioural Insights at Dynamic Planner said: “I am delighted to be named as one of the Future Leaders recognised at this year’s awards. The study of investor behaviour is fascinating and the potential it offers to improve financial outcomes for investors is limitless.  We have used our behavioural studies to further enhance how we help advisers assess client investment risk and more recently to help people invest sustainably. I look forward to continuing to apply my academic and professional background as a psychologist to inform what we offer as Dynamic Planner.” 

Gerry O’Hagan, Knowledge Transfer Adviser, KTN said: “The project between Dynamic Planner and Henley Business School is a great example of the dynamic collaboration that lies at the heart of the KTP programme. Louis is a highly talented Future Leader, and the new insights that he was able to generate have enabled the company to introduce new products for their key customers, Independent Financial Advisers (IFA’s) and Fund Managers.” 

Appointment signals Arqit’s push into financial services security

Arqit Quantum Inc. (“Arqit”), a leader in quantum encryption technology, is pleased to announce the appointment of Jason Nabi as Managing Director, Financial Services, with immediate effect. 

As a 30-year veteran in Capital Markets and the Fintech sectors, Jason has held leadership positions at some of the world’s largest banks, including HSBC and BNP Paribas, and has worked for other market leaders, including Bloomberg, IBM and blockchain firm Paxos.

Jason has extensive experience developing services, delivering growth and innovative technology-based products, including digital assets.  He is the founding member of the Global Blockchain Business Council, a recent board member of ISSA as well as a frequent speaker on digitalisation of capital markets.

Arqit Founder, Chairman and CEO David Williams, said: “QuantumCloud™ has already solved some of the greatest cyber security problems of the era and has proven that with major customers in defence and telecoms. We are now certain of its universal application and demand in financial services. 

“We are thrilled to have Jason join our company to build a high-performance team to drive our financial services division and capitalise on the massive unmet demand not only for stronger, simpler encryption but also in the value-added services we are building.” 

Jason Nabi added: “Joining Arqit’s world-class team of experts in quantum tech and cybersecurity is a real honour.  The financial services move to digital assets and take-up of investing in crypto is evidenced everywhere.  For every financial services firm and institution, the protection of client data, surety of transactions and safety of assets in a digital ecosystem needs stronger, simpler encryption.  

“In fact, the digital assets boom will not last unless the cryptographic problem at their heart is solved.  Arqit has done this and is already the market leader in this field with an impressive array of customers and I’m excited to help lead the growth and development of the business in the financial services sector”.

• Barclaycard Multicurrency is a new integrated Foreign Exchange (FX) solution that enables Barclays acquired ecommerce customers to accept payments quickly and efficiently in over 100 currencies
• The solution uses a pre-determined fixed FX rate which reduces the impact of volatility to clients
• With streamlined integration processes the product can save customers valuable time

Barclaycard Payments has launched a new FX integrated payment solution in collaboration with Barclays Corporate & Investment Bank. ‘Barclaycard Multicurrency’ enables ecommerce customers to accept payments in a wide variety of currencies with settlement into Sterling, Euro or US Dollars using a pre-determined fixed FX rate.

As ecommerce continues to grow, the opportunities to expand to new markets also increase. Barclaycard Multicurrency allows businesses to accept payments from cardholders in their local currency, then automatically converts the funds and settles the payment in either Sterling, Euro or US Dollars, using a locked-in rate.

Barclaycard Multicurrency allows ecommerce customers to expand their global reach by accepting multicurrency payments using a pre-determined rate. The offer builds on, and will replace, Barclaycard’s existing Multicurrency Settlement Solution (MSS) previously available to all corporate payments clients.  

The enhanced product provides simplicity, convenience and transparency for consumers through pricing in their local currency. It also offers ecommerce customers a host of additional benefits including:

• Locked-in FX rates: Customers can protect their Barclaycard Multicurrency transactions against FX risk with pre-determined rates for 1 or 7 days, with mid-rates published before the trading period commences, which enables easier management of cash flows.
• Ease of integration: The Barclaycard platform has existing, built-in functionality that means if currency payments are acquired by Barclaycard, Multicurrency can be switched on with no additional integration. As integration processes can be lengthy, the enhanced product saves customers valuable time.
• Improved rates: Existing customers have the potential to benefit from an efficiency saving by using internal Barclays’ reference rates.

Paul Adams, Head of Product at Barclaycard Payments, said: “Selling abroad opens up exciting opportunities for businesses large and small – from growing their sales, to new markets and revenue streams.

Barclaycard Multicurrency makes it easy for consumers to see prices and pay in their own currency, helping ecommerce businesses drive sales while protecting themselves from FX risk with locked-in rates. By the end of the year we expect our existing corporate clients with FX requirements to be using the new service.”

• Key milestone reached in less than two years
• Over 170% annual growth driven by new users and increased trading levels
• Concentrated portfolio generates higher than average trading per instrument

Spectrum Markets, the pan-European trading venue for securitised derivatives announced that it has hit the milestone of one billion securitised derivatives traded on the platform since it launched nearly two years ago.

The strong growth has been driven by new users as well as increased trading activity, especially among younger traders, and those seeking to profit from higher levels of market volatility and a rapidly-evolving macro and corporate landscape.

Trading volumes on Spectrum have accelerated significantly since launch, with over 750 million securitised derivatives traded in the last 12 months, compared to just under 280 million in the first year of operation, representing an annual increase of more than 170%.

Investors continue to take advantage of Spectrum’s 24/5 offering, with more than one third of all trades taking place outside of traditional hours (i.e. between 17:30 and 9:00 CET).

The decision to focus on listing a smaller selection of the most popular products has also proved fruitful, delivering much more concentrated trading activity across the range. When compared against wider European industry averages for similar instruments, average reference trading for products listed on Spectrum is higher by double-digit multiples.

“I’m delighted to have reached this important milestone in less than two years, and it’s a real testament to the hard work of our team and the clear demand among European retail investors for  a better way to trade,” said Nicky Maan, CEO of Spectrum Markets.

“We’ve definitely been helped by high levels of volatility and the number of new traders entering markets during the pandemic, but more broadly our overall growth strategy is very much on track and we look forward to accelerating in the months and years ahead as additional brokers, issuers and technology partners join us on this journey.”

• Four in five (81%) banks seek to differentiate on customer experience rather than products

• Mastering both customer experience (30.5%) and digital marketing (28.5%) are ranked as top strategic priorities for the next four years
• Survey respondents across the world are considering microfinance for entrepreneurs (34%), deposits for the unbanked (33%) and responsible lending to under-banked populations (32%) as top actions to promote financial inclusion and empowerment

A new report by the Economist Intelligence Unit published today by Temenos (SIX:TEMN), the banking software company, reveals that four in five bankers (81%) believe that financial institutions will seek to differentiate themselves on customer experience rather than on their products and services in the next four years. The report underscores the importance of customer experience, as changes to customer banking behaviour triggered by the pandemic create long-term structural changes. 

The report, titled “Demanding More”, is based on a recent global survey of 305 senior banking executives conducted by the Economist Intelligence Unit (EIU). The report highlights how financial institutions have been forced to adapt to the sudden movement of customers managing their finances online, which has proved beneficial to digital-only banks. As an example, as of January 2021, 14 million British citizens (27% of UK adults) had a digital-only bank account, representing a 16% growth from January 2020 and an increase of 3X compared to January 2019. Almost three in four (71%) global respondents expect cash to represent less than 5% of all retail transactions globally by 2025. 

The shift towards online banking has highlighted the evolution of how financial institutions manage relationships and the demise of the traditional branch. Global banking executives’ top strategic priorities are all customer-focused. Improving customer experience and engagement, including personalization and intimacy, was viewed as the top strategic priority by 30%. 

The report further reveals that consumers, particularly Millennials and Gen Z, are increasingly demanding that companies follow responsible business practices. This is leading to business engagement with issues that are important to consumers, such as combating climate change and promoting diversity and financial inclusion.  Additionally, banking executives are prioritizing the financial empowerment of their customers. Findings show that around one in three financial institutions are considering growing microfinance for entrepreneurs (34%), deposits for unbanked populations (33%) and responsible lending to under-banked populations (32%) in the next one to three years.

Joaquin de Valenzuela Muley, SVP & Busines Line Director – Temenos Infinity, said: “Banking is a very human experience, and yet for so many, banking doesn’t happen the way we live our lives. In today’s world, the relationship financial institutions have with members or customers is more critical than ever. Banks are moving their customers from physical into digital channels and the winners will be those who can inject intimacy into those channels. Banks will need to provide a digitally-driven customer experience in assisted channels and online – offering advice, value-added services, and ‘always on’ banking, helping individuals, families, and businesses to meet their dreams and aspirations. This report showcases what should have already been obvious: banking is about the people, and the products need to reflect that.”

• Four in five (81%) banks seek to differentiate on customer experience rather than products

• Mastering both customer experience (30.5%) and digital marketing (28.5%) are ranked as top strategic priorities for the next four years
• Survey respondents across the world are considering microfinance for entrepreneurs (34%), deposits for the unbanked (33%) and responsible lending to under-banked populations (32%) as top actions to promote financial inclusion and empowerment

GENEVA, Switzerland – September 30, 2021 – A new report by the Economist Intelligence Unit published today by Temenos (SIX:TEMN), the banking software company, reveals that four in five bankers (81%) believe that financial institutions will seek to differentiate themselves on customer experience rather than on their products and services in the next four years. The report underscores the importance of customer experience, as changes to customer banking behaviour triggered by the pandemic create long-term structural changes. 

The report, titled “Demanding More”, is based on a recent global survey of 305 senior banking executives conducted by the Economist Intelligence Unit (EIU). The report highlights how financial institutions have been forced to adapt to the sudden movement of customers managing their finances online, which has proved beneficial to digital-only banks. As an example, as of January 2021, 14 million British citizens (27% of UK adults) had a digital-only bank account, representing a 16% growth from January 2020 and an increase of 3X compared to January 2019. Almost three in four (71%) global respondents expect cash to represent less than 5% of all retail transactions globally by 2025. 

The shift towards online banking has highlighted the evolution of how financial institutions manage relationships and the demise of the traditional branch. Global banking executives’ top strategic priorities are all customer-focused. Improving customer experience and engagement, including personalization and intimacy, was viewed as the top strategic priority by 30%. 

The report further reveals that consumers, particularly Millennials and Gen Z, are increasingly demanding that companies follow responsible business practices. This is leading to business engagement with issues that are important to consumers, such as combating climate change and promoting diversity and financial inclusion.  Additionally, banking executives are prioritizing the financial empowerment of their customers. Findings show that around one in three financial institutions are considering growing microfinance for entrepreneurs (34%), deposits for unbanked populations (33%) and responsible lending to under-banked populations (32%) in the next one to three years.

Joaquin de Valenzuela Muley, SVP & Busines Line Director – Temenos Infinity, said: “Banking is a very human experience, and yet for so many, banking doesn’t happen the way we live our lives. In today’s world, the relationship financial institutions have with members or customers is more critical than ever. Banks are moving their customers from physical into digital channels and the winners will be those who can inject intimacy into those channels. Banks will need to provide a digitally-driven customer experience in assisted channels and online – offering advice, value-added services, and ‘always on’ banking, helping individuals, families, and businesses to meet their dreams and aspirations. This report showcases what should have already been obvious: banking is about the people, and the products need to reflect that.”

As flagged in its July trading update, Trackwise Designs' H121 group revenues increased by 71% y-o-y to £4.1m, reflecting the acquisition of Stevenage Circuits in March 2020 and a doubling of IHT revenues, while adjusted EBITDA quadrupled to £0.5m. Management notes the group remains on track to meet market FY21 expectations despite supply chain disruption, so we leave our FY21 and FY22 estimates broadly unchanged.

While our peer multiples-based analysis shows Trackwise trading at a premium to its peers on all metrics, this approach fails to recognise the potential of the IHT business so we have augmented it with a scenario analysis, which is presented in our initiation note. This explores how each of the three key segments in which Trackwise has developed prototype IHT products for customers (EVs, medical devices and aerospace) has the potential to generate revenues of at least £100m at even relatively modest levels of market penetration.

Leading fintech enablement partner, Ukheshe Technologies has announced a new partnership with Chipper, one of Africa’s most valuable startups, to enhance and accelerate the rollout out of Chipper’s digital payment offerings. These include free and unlimited P2P payments across South Africa, value-added services such as airtime and data and the ability to legally buy, sell or transfer cryptocurrency. The partnership will also allow for more efficient transactions across Africa, while fulfilling the lives of its customers on the back of the Ukheshe Eclipse API framework.

The three-year-old startup, Chipper is the biggest and fastest growing payment app in Africa offering instant no-fee local and cross-border   money transfers, discounted airtime purchase and zero charges on bill payments. With over four million users serving eight countries in Africa and the UK, Chipper's mission is to unlock global opportunities and bring Africa together, one transaction at a time.

Clayton Hayward, CEO of Ukheshe, says that collaborating with Chipper is an exciting opportunity to be at the forefront of new solutions that are driving growth in the payments industry in Africa. “Ukheshe’s Eclipse API provides access to payment technology, products and services – all from one convenient platform. The rapid shift towards innovative digital-first solutions, is undeniable and we are thrilled to partner with Chipper, a company that shares our vision and enthusiasm for credible, seamless payment solutions that drive the payments revolution in Africa.”

When solutions are created to connect organisations to customers, it is vital those customers feel in complete control of their money. To achieve this, a reliable and trustworthy enablement partner is an important foundation. Ukheshe provides these benefits and more, always ensuring that the customer journey remains at the core of its technology.

Hayward says that the devastating effects of the Covid-19 pandemic have further highlighted the need for credible, scalable pan-African fintech solutions. According to the International Monetary Fund (IMF) 57 percent of Africans do not have access to basic banking, while in in sub-Saharan Africa only 37 percent of women and 48 percent of men have a bank account. “The relationship between Ukheshe and Chipper aims to spearhead digital-first fintech solutions made in Africa to broaden access and financial inclusion for those who need it most. Our digital payment solution supports wallet functionality and will offer much-needed simplified payment solutions that allow users to send and receive cross-border payments safely, quickly, and efficiently.”

The cloud-native TrueCONNECT(TM) SASE service integrates the Zscaler Zero Trust Exchange(TM) Platform to offer a Zero Trust answer for protecting the entire SD-WAN perimeter

HONG KONG, Sept 30, 2021 - (ACN Newswire) - CITIC Telecom International CPC Limited ("CITIC Telecom CPC"), a wholly-owned subsidiary of CITIC Telecom International Holdings Limited (SEHK: 1883), is partnering with Zscaler, the leader in cloud security, to launch TrueCONNECT(TM) SASE Service. The new cloud-native Secure Access Service Edge (SASE) integrates with the Zscaler Zero Trust Exchange(TM) Platform to keep expanding network edges secure.

The announcement follows increasing interest in SASE deployments as network edge attacks increase. According to Gartner, at least 60% of enterprises will have explicit strategies and timelines for SASE adoption encompassing user, branch, and edge access by 2025, up from 10% in 2020 . The integration of TrueCONNECT(TM) SASE Service with the Zscaler Zero Trust Exchange(TM) offers users holistic protection for the entire SD-WAN network topologies.

"The rise in SD-WAN deployment sees an escalation of network edge attacks. Our partnership with leading zero trust and web security solution provider Zscaler to offer TrueCONNECT(TM) SASE Service expands our existing TrueCONNECT(TM) Hybrid SD-WAN value proposition," said Taylor Lam, Chief Strategy Officer of CITIC Telecom CPC. "The main benefactors of this partnership will be our customers who can now protect their network edges and scale the security as their network edges evolve."

Companies are increasingly adopting SD-WAN to support hybrid workforces and distributed workloads. They also need an agile, robust, and holistic security solution that scales with their expanding network edge. Traditional on-premises network security solutions struggle to cope with the cybersecurity demands of today's distributed enterprises, especially at the network edge. Dynamic usage patterns and a complex network landscape that includes cloud platforms and mobile technologies increase staff overheads, delay troubleshooting, and reduce scalability.

SASE takes a refreshing approach toward protecting distributed network infrastructures by relocating security at the network perimeter. It uses a granular, identity-based access model to eliminate bottlenecks and complexity while enhancing flexibility, trust, and scalability.

CITIC Telecom CPC TrueCONNECT(TM) SASE solution is a cloud-native SASE service that integrates with the Zscaler Zero Trust Exchange(TM). The powerful combination offers a Zero Trust answer for distributed enterprises looking to secure their evolving network edges while simplifying edge security management and operational costs. The solution also builds on CITIC Telecom CPC's TrueCONNECT(TM) Hybrid, a fully-managed SD-WAN connectivity solution covering nearly 60 gateways across 50 cities in 20 countries. Distributed enterprises can use the SD-WAN orchestrator to directly steer network traffic via the 150 global data centers backed by the Zscaler Zero Trust Exchange.

"Today's cyberthreats are becoming more sophisticated and frequent. Enterprises in the region need to look at holistic protection that scales as their network topology and edge grow," said Arun Dharmalingam VP, Channels and Alliances, EMEA & APJ at Zscaler. "We are delighted to partner with CITIC Telecom CPC on their innovative cloud-native SASE service built on Zscaler's zero trust architecture, and believe it will provide an important tool to keep their evolving SD-WAN network protected."

The new cloud-native TrueCONNECT(TM) SASE solution, built on Zscaler's Zero Trust Exchange(TM) offers a wide range of benefits, including:

-- Globally Distributed Comprehensive Security: TrueCONNECT(TM) SASE offers a direct-to-cloud security stack to protect digital assets, users, and devices while reinforcing business continuity, ensuring robust and responsive cybersecurity at all points of access.

-- Immediately Responsive Full Spectrum Security: Threats detected anywhere are immediately neutralized across the network for all users. TrueCONNECT(TM) SASE covers a full range of protective measures, including Browser Isolation, Cloud Access Security Broker (CASB), Cloud Security Posture Management (CSPM), Cloud Firewall/IPS, Data Loss Protection (DLP), Sandboxing, and URL Filtering.

-- Full SSL and Content Inspection: TrueCONNECT(TM) SASE gives total content visibility via full SSL inspection across all ports and protocols, with only microseconds of delay. It allows CISOs and SOC teams to monitor security activities across the SD-WAN topology easily and proactively take actions when malicious activities are detected or network usage patterns highlight an imminent attack.

--Effortless Scalability and Seamless Integration: TrueCONNECT(TM) SASE easily scales integrated policies and contextual threat visibility to accommodate additional users, security, and other business needs.

--Zero trust network access (ZTNA) capability: The service offers identity-based authentication and granular access control to empower enterprises with secure private access to cloud-native platforms or applications.