E-current account provider Unizest has launched in the UK with support from Mastercard, Railsbank, Association of Labour Providers (ALP), and several international recruiters. Unizest’s mission goes beyond traditional fintech solutions, as the company aims to help solve the long term problem facing UK recruitment agencies when arranging payment for overseas workers, and offer a better start for newcomers to the UK. 

In a simple and secure five-step onboarding process, Unizest allows workers and students coming to the UK to open an e-current account before they leave their home country. Upon arrival in the UK, customers receive their Debit Mastercard.

Helping recruiters attract overseas workers and remove friction

Restrictions as a result of the pandemic, coupled with the implications of Brexit, have left the UK facing a significant shortage of staff across many sectors - including healthcare, hospitality and agriculture. These industries play a vital role in the recovery of the UK’s economy, and yet recruiters are having to work even harder to attract overseas workers to fill thousands of vacancies.

Unizest recognises that one of the causes of friction for people who newly arrive in the UK for work and study is the simple need to open a bank account. The team’s mission is to support recruiters - Unizest is already working with recruitment agencies such as Response Recruitment, Australasian Recruitment Company and Tri Consulting - and in turn, candidates, with this important stage in the transition to life and work in the UK.

"On a daily basis, we have overseas workers walking off the street into our office looking for employment. Many can't open a traditional UK bank account but obviously need to set up a basic banking service. We can now offer Unizest's new e-current account. It's a win-win for recruiters, their clients and candidates," says John Devine, managing director at Response Recruitment. 

Matt Oldham, co-founder of Neofin Ventures - the company behind Unizest’s launch - says: “Our aim with Unizest is to ensure that all newcomers to the UK, whether that be for work or for study, are given the best start when embarking on their new life here. We want to help smooth the transition by removing one of the biggest hurdles they face - setting up basic banking services.” 

“By kick-starting the process of getting an account, before new hires even arrive in the UK, Unizest enables businesses to focus on the many other processes and aspects of recruitment.” 

More than a fintech solution

Offering a fairly priced fintech solution for overseas workers and students, Unizest customers can manage their money through the Unizest app - available to download on iOS and Android:

• E-current accounts can be opened before arriving in the UK through a secure five-step onboarding process including facial recognition. Once a UK address is confirmed, customers receive a contactless Debit Mastercard. 

• Onboarding is five steps: the process links to Home Office Share Code to ensure customers have a confirmed right to reside in the UK, making the set up simple for Unizest users. 

• Sending and receiving money both in the UK and overseas;

• Setting up of direct debits;

• Contactless payments;

• ATM withdrawals;

• Integrated ‘community’ feature with useful information, advice and tips in conjunction with Just Good Work.

• Partner offers - tailored discounts for products and services relevant to new-to-UK customers including education, training, travel, telecoms and groceries.

Support from industry partners

After going through a rigorous approval process, Unizest has become an approved service partner of the Association of Labour Providers (ALP). Instigated by the UK government, the association promotes responsible recruitment and shares Unizest’s values of integrity and putting people first. 

"We are pleased to welcome Unizest as an ALP service partner and look forward to their e-current account helping to promote good practice," says David Camp, chief executive of the Association of Labour Providers.

Unizest’s partnership with Just Good Work demonstrates its commitment to empowering its end-users, by providing them with independent advice and guidance on work and life in the UK - including rights and obligations, recruitment and employment information directly on the app. 

“People coming to a new country to work or study are making a big life change. By partnering with Unizest, Just Good Work provides practical help and support at every stage in multiple languages. Whether that be understanding how things work here or getting sound advice in avoiding deception or exploitation. We are excited to be supporting Unizest, who share our desire to protect and support people newly arriving in the UK,” says Quintin Lake, director of Just Good Work.

Unizest has already attained Pending B Corp® status, reflecting its ambition to meet higher standards of transparency, accountability and performance.
 

Smart Eye, the leader in AI-based eye tracking, announced that it has completed its acquisition of Affectiva, the pioneer of Emotion AI and Human Perception AI, per the agreement that was announced on May 25, 2021. The newly merged company has formed a global AI powerhouse that will lead and accelerate the growth and development of software for automotive Interior Sensing, Media Analytics, Human Factors Research and other adjacent markets.

Post-closing, Smart Eye and Affectiva are focused on combining their complimentary teams and technologies to deliver an advanced Interior Sensing platform, using machine learning, deep learning, computer vision and massive amounts of real-world data to gain a deeper understanding of what is happening inside a vehicle. This solution will not only improve automotive safety, saving human lives around the world, it will also provide differentiated mobility experiences that enhance wellness, comfort and entertainment.

The combined company will continue to deliver innovative Driver Monitoring Systems (DMS), building on Smart Eye’s proven leadership in this space. Already, Smart Eye has achieved a stronghold in the DMS market through 84 production contracts with 13 OEMs.

Now, in order to meet the regulatory requirements and industry demands for not only driver monitoring, but holistic cabin and occupant monitoring, the newly merged company will combine its industry-leading technologies to deliver a new Interior Sensing platform that will position them to successfully bid on the Interior Sensing contracts that OEMs and Tier 1s are putting out for bid.

These new capabilities will be on display at CES 2022, where Smart Eye will have a larger booth (#6942) in the new CES West Hall that will be focused on automotive tech. Demos will be available to select clients, partners, investors and media. Smart Eye will announce more details about the company’s presence at CES 2022 this Fall.

For more information on the combined company, visit: https://smarteye.se/smart-eye-acquires-affectiva/

For more information on the deal structure, visit http://www.corp.smarteye.se/en/press/

Acronis, a global leader in cyber protection, today announced the opening of a new office in Herzliya, Israel with plans to invest around $80 million into the country during the next five years. This new office will focus on conducting cybersecurity research and development, enabling Acronis partners with local sales, marketing, technical, and educational support, as well as, recruiting and activating new cloud partners. The office also expands the company’s global network of Acronis Cyber Protection Operations Centres (CPOCs). 
Today’s announcement comes just weeks after a $250 million funding round that raised the company’s valuation to more than $2.5 billion. Some of that new funding will be directed to the Herzliya office to recruit staff and support regional partners. Acronis plans to recruit more than 100 highly skilled engineers, scientists, and cybersecurity professionals for the new location. Another focus of investing will be on growing the number of cloud aggregators, distributors, and service providers in the region, where the company has had a presence since 2008.
The new office is the latest in a series of announcements regarding Acronis’ expansion in the region. Acronis acquired the Israeli cybersecurity firm CyberLynx Security at the end of last year and opened a new data centre in Israel in April.
“Acronis' strategic move into Israel reflects the fact this region will play a major role in our future success and we have tremendous trust in the talent of the Israeli high-tech industry,” said Serguei Beloussov, CEO and founder of Acronis. “This new Israeli centre will be at the forefront of cyber protection research and development, becoming one of the key sites in our international network of research centres, alongside our Swiss, Singaporean, Bulgarian, and North American locations.”
The Israeli office will be led by General Manager Gili Moller, who has more than 15 years of experience in R&D and product management in Israel-based technology companies.
“Acronis is committed to setting the standard for modern cyber protection, which merges cybersecurity and data protection into one solution,” said Moller. “Our team in Israel will now be at the heart of that revolution, as we provide partners and customers with a single solution that covers all five stages of their protection – prevention, detection, response, recovery, and forensics.”
To support Acronis’ aggressive hiring goals, Acronis will collaborate with the business community and top Israeli universities to establish workforce pipeline initiatives, R&D collaborations, and training and mentoring guidance to help existing employees with their professional development.
A list of positions to be filled at the new office in Israel is available here.
If you are interested in learning more about Acronis’ global expansion, please join us in-person or virtually at our #CyberFit World Tour 2021 in Miami, Florida; Schaffhausen, Switzerland; Dubai, United Arab Emirates; and Singapore. Register here.
 

Lightspin, the next-generation cloud security platform, announced today that it has raised $16 million Series A funding in a round led by Dell Technologies Capital with significant participation from existing investor Ibex Investors. This round brings total funding to date to $20 million.

Founded in 2020, Lightspin has developed a context-based cloud security platform for cloud-native and Kubernetes environments. The platform provides a full contextual view of all cloud assets and relationships, maps the potential attack paths, and prioritizes and remediates the most critical security issues from build to runtime. Deployed in companies ranging from startups to Fortune 500 corporations, Lightspin has been experiencing exceptional market growth.

“Receiving this recognition from Dell Technologies Capital, a preeminent investor in fellow startups that are revolutionizing the cloud security space, such as Zscaler, Netskope, Twistlock and Redlock, as well as from Ibex Investors, who invested in Dome9, is a strong endorsement of Lightspin’s cutting-edge approach,” said Vladi Sandler, CEO & Co-Founder of Lightspin. “We are delighted to have the faith of such experienced and proven investors behind us to build the next generation of cloud security.”

“There is strong consensus within the CISO network that Lightspin has built the right platform to understand and prioritize the risks of potential attacks in cloud environments,” said Alon Weinberg, Director at Dell Technologies Capital. “By providing clear context and actionable remediation options, Lightspin is also bridging the gap between DevOps and security teams both in the build stage and in production.”

Nicole Priel, Partner at Ibex Investors, continued, “Lightspin has demonstrated exceptional growth and technical innovation using graph-based algorithms to effectively protect cloud and Kubernetes environments, all while relieving security owners of alert fatigue. We are delighted to continue supporting Lightspin in their journey to provide real value to customers while maintaining an open-source repository for the broader community.”

This new investment will fuel cross-function innovation and growth as the company plans to triple the current number of employees, while maintaining its commitment to gender balance across all departments. New hiring will be divided between Israel and the US.

Companies and organizations worldwide are losing billions due to cybercrime each year. Although most of them significantly increased their cybersecurity budgets, cyber attacks like data breaches, phishing, ransomware attacks, or cyber espionage still represent one of the biggest risks in the business sector.

According to data presented by TradingPlatforms.com, the information and finance industry were the most targeted by cyber espionage, with almost 300 reported cases last year.

Almost 65% of Cyber Espionage Incidents Involve Phishing Attacks

Over the years, cyber espionage became a growing threat affecting industrial sectors and critical and strategic infrastructures worldwide, including government ministries, railways, telecommunication providers, energy companies, hospitals, and banks.

Its main goal is to steal state and trade secrets and confidential data in strategic fields. State-backed cyber spies may also seek intellectual property from advanced industries or customers’ data from finance or travel companies.

Once, cyber attackers might have needed the latest zero-days to gain access to corporate networks. However, today, phishing emails using social engineering tactics are most likely to provide attackers with the initial entry they need.

The 2020 ENISA report showed that almost 65% of cyber espionage incidents involve phishing attacks. Also, around 11% of cyber incidents and 20% of data breaches were motivated by cyber espionage.

Behind the internet and the finance industry, as the sectors most threatened by cyber espionage, the healthcare organizations remain an increasingly popular target amongst cybercriminals, especially those exploiting the worldwide interest in the COVID-19 vaccine. Verizon's 2021 Data Breach Investigations Report showed that there were 119 reported cyber espionage cases targeting companies and organizations in this sector last year.

Public administration and professional services also rank high on this list, with 118 and 114 cyber espionage cases in 2020. The real estate market, the accommodation sector and administrative services were on the other side of the list, with 14, 11, and 10 reported cases, respectively.

Companies Increasingly Investing in Cyber Insurance, Entire Market to Grow by 21% YoY and Hit $9.5B Value

As data applications and technology in the business sector increase, organizations are becoming more aware of the need for insurance coverage for cyber risks. Cyber insurance helps companies and organizations hedge against the potentially devastating effects of cyber espionage, ransomware, malware, or any other cyber attack used to compromise a network and sensitive data.

Last year, the global cyber insurance market hit $7.8bn value, revealed the MarketsandMarkets report. The growing number of companies taking preventive measures against cyberattacks is expected to continue driving the impressive growth of the entire sector. In 2021, the cyber insurance market is expected to grow by 21% YoY to hit a $9.5bn value. By 2025, this figure is forecast to hit $20.4bn.

The full story can be read here: https://tradingplatforms.com/blog/2021/06/23/information-and-finance-industry-most-targeted-by-cyber-espionage-almost-300-cases-in-2020/

• Hg Exchange is now regulated by the Monetary Authority of Singapore  (“MAS”) as a Recognised Market Operator (RMO) to operate as Asia’s first  member-driven exchange to support the issuance and trading of both digital  and non-digital capital market products 

• Hg Exchange strengthens its leadership team with internal promotions and  strategic new hires as it moves into its new phase of operations to expand the number of products listed as well as Member Firms 

• PhillipCapital, a Member Firm, to be a designated market maker to boost  exchange liquidity 

Hg Exchange (HGX), a private securities exchange formed by an alliance of leading capital market intermediaries, announced today its milestone graduation  from the Monetary Authority of Singapore (MAS) Fintech Regulatory Sandbox with a  Recognised Market Operator (RMO) license awarded by the MAS. With this RMO license,  HGX can now fully operate as Asia’s first member-driven private exchange to support the  issuance and trading of both digital and non-digital capital market products. The exchange has also appointed Eric Neo Say Wei as President and promoted Willie Chang from Chief  Operating Officer (COO) to Chief Executive Officer (CEO) to drive HGX’s business growth in  Asia. 

Graduation from the MAS Sandbox 

“Hg Exchange’s graduation from the MAS Fintech Regulatory Sandbox is a crucial step in our development and we are confident in attracting more global companies and investors to the platform. We want to build a strong marketplace where investors can access everything from equities in high-growth companies, funds, and loan products to more unconventional financial products such as high-end luxury goods like art, wines and whiskies,” said Willie Chang, CEO  of HGX. “Hg Exchange is a venue designed to make these financial products accessible to a  broad investor base. I am excited to lead Hg Exchange to greater heights and nurture an  ecosystem that will help build the exchange of the future.” 

HGX’s graduation from the MAS Fintech Regulatory Sandbox indicates that HGX has  demonstrated compliance with rigorous regulatory requirements and ensured its structure and  operations are in accordance with local and international standards and best practices. Activity on the exchange has been robust since September 2020, when HGX announced its first trades. Thirteen different products have been successfully listed with a total average monthly trading volume exceeding US$500,000 in the last six months.

A designated market maker 

PhillipCapital, a Member Firm, will be a designated market maker to boost exchange liquidity  and facilitate trading at competitive bid and offer prices. 

“We are excited to be HGX’s Member Firm. Our clients can now access and invest in a wider  universe of alternative assets to assist in their financial planning. At the same time, we see  the HGX marketplace as a great place to bring alternative assets into the market through  listing.” said Luke Lim, Managing Director of Phillip Securities Pte. Ltd. 

Established by four distinct industry-leading firms, Fundnel, PhillipCapital, PrimePartners and  Zilliqa, HGX is Asia’s first member-driven private exchange. Powered by leading blockchain  platform provider Zilliqa, HGX technology allows for digitised securities issuance and  secondary trading of digital securities. Digital securities can also be fractionalised, allowing  investors to transact securities at more accessible price points. The goal of HGX is to provide  an equitable trading platform by bringing operational transparency, fair competition, and cost 

efficiency to the private capital markets. 

Three of the four HGX founders – Fundnel, PhillipCapital, and PrimePartners – are also  Member Firms, each individually licensed and regulated by MAS. Currently, participation and  trading in HGX is open to professional, expert and accredited clients of Member Firms, which  currently includes over 500,000 investors globally. This unique platform ecosystem will  continue to grow as more Member Firms are added, enhancing access to invest in companies  and private assets with high growth potential. 

Strengthening leadership 

“The financial landscape has evolved at a rapid pace in the last decade as we now look to  democratising private fundraising and investments for companies. Family offices, high-net worth individuals, investment managers, pension funds, sovereign wealth funds and wealth  managers are seeking inroads into alternative investments,” said Eric Neo Say Wei,  President of HGX. “This has positioned HGX squarely in the centre of this exciting revolution.  Harnessing technology and financial innovation for the betterment of society has always  fascinated me and I am proud to be a part of the HGX team that embodies these goals.” 

Eric will bring two decades of experience in capital markets, fintech and entrepreneurship to  lead HGX’s strategic fundraising and build its membership ecosystem. He previously founded  the Trading Atrium, Asia’s first award-winning multi-asset low latency trading ecosystem, at  Neo & Partners Global and co-founded RF International Holdings, an investment holding  company. Eric was also awarded Executive of the Year, Financial Services at the SBR  Management Excellence Awards 2020. He will be reporting to Willie, who will focus on strategy  and operations as CEO, leveraging his twenty years of experience in fintech, investment  banking and management consulting to steer HGX forward. Willie has previously launched a  digital asset exchange platform for cryptocurrencies and held multiple strategic and  management roles at several banks and consulting companies.

Since its inception, HGX has recorded many milestones, including closing its first trade in  September 2020 and launching Asia’s first digital whiskey-based asset-backed security in  January 2021. Thirteen different financial instruments have been successfully listed with a total average monthly trading volume exceeding US$500,000 in the last six months. Looking to the future, HGX has built a strong product pipeline of capital market products, with funds, loans, luxury assets, and real estate under evaluation for future listing. HGX also plans to onboard more Member Firms, expanding the overall marketplace and ecosystem.

Memorandum of Understanding signed between the two companies for the development of cutting-edge technology solutions to benefit the entire national digital payments system 

The creation of a NewCo to manage the processing of payment transactions is also planned 

BANCOMAT S.p.A., market leader and owner of the BANCOMAT® and PagoBANCOMAT® networks, as well as of the innovative BANCOMAT Pay® service, has signed a Memorandum of Understanding with SIA S.p.A., a hi-tech company controlled by CDP Equity and European leader in the design, implementation and management of technology infrastructures and services in the Card & Merchant Solutions, Digital Payment Solutions and Capital Market & Network Solutions segments. 

The objective of the Memorandum is to create a new supply chain for BANCOMAT®, PagoBANCOMAT® and BANCOMAT Pay® payment and cash withdrawal systems capable of re-engineering and modernizing such services, thus creating the conditions to enable the domestic network also at an international level.

This agreement reinforces a nearly 40-year partnership that includes, in 2018, the launch of the new BANCOMAT Pay® digital payment service. 

BANCOMAT S.p.A. and SIA, therefore, in addition to confirming the commitment of the two companies to supporting the digitalization of the country's payment systems, aim to develop new BANCOMAT payments that will entail improved governance of the network according to a centralized model by means of a Technology Hub managed by BANCOMAT S.p.A., which will make it possible to boost innovation even further, also as a result of reduced time to market. 

This project will ensure that the economic and security features of the network remain in place and will strengthen the objectives of the 2020-2024 Business Plan.

The cornerstones of the Memorandum of Understanding are: 

• the development by SIA of a new technology HUB for BANCOMAT S.p.A., which will be operational by 31 December 2023 at the service of processors, banks and all the operators in the supply chain; 

• the incorporation of a NewCo dedicated to the management of the processing activities of BANCOMAT®, PagoBANCOMAT® and BANCOMAT Pay® and intended to operate in competition with the other processors. 

The terms of the MoU will be subsequently set out and better specified in the Agreements to be signed by the parties by 31 December 2021. 

CEO of BANCOMAT S.p.A., Alessandro Zollo, commented on the initiative: "The signing of this Memorandum of Understanding is consistent with the path of innovation started up by the Business Plan and confirms the leading role that BANCOMAT S.p.A. has and intends to continue to have in the evolution of the digital payments sector. The development of new cutting-edge technologies will benefit the entire economic-financial system and the now necessary new go-to-market strategy will put us at the heart of the country's digital revolution."

Federico Lovadina, Chairman of SIA, made the following remarks on the initiative: "With this digital transformation project, SIA reinforces its commitment to supporting the modernization of payment systems, which are becoming more and more crucial for the current and future development of the Countrywide System. This is further evidence of how Italy is playing an increasingly central role in the fintech sector and driving innovation in electronic payment services, also in initiatives currently underway at European level. "

WL Hospitality Suite will increase convenience and enhance the hotel experience for guests whilst improving user experience and efficiency for staff

Worldline, the European leader in the payments and transactional services industry, today announces the launch of WL Hospitality Suite. A full service offering for the hotel industry, supporting and enabling hotels to deliver a seamless omnichannel experience for their guests. 

The hospitality and travel industry has been severely impacted by the onset of the COVID-19 pandemic, with the daily revenue per hotel room – a key indicator for the sector – not expected to return to 2019 levels until at least 2023 in the US and 2024 in many European cities, including London. Therefore, there has been a clear and urgent need to kick-start the sector as regions start to welcome back, where possible, tourists and visitors.

The WL Hospitality Suite will offer a range of cloud-based payment capabilities, seamlessly integrated into the hotel’s Property Management System (PMS). Thanks to tokenization, the suite responds to all the omnichannel requirements of a hotel. In addition, card and online acceptance, acquiring services, dynamic currency conversion, along with Worldline terminals, are included within the Suite. 

The comprehensive offering will ease the payments process for hoteliers, with a single point of contact for all payment and integration services. Hotels are now able to enjoy greater convenience in key guest interactions and in having guests pay for their stay. They will now be able to utilize the benefit of having all payment functions fully integrated into their central management system, creating a unique customer experience for their guests and staff. 

Chris Lanckbeen, Global Head Travel & Hospitality Verticals at Worldline, commented: “The launch of WL Hospitality Suite demonstrates Worldline’s commitment as a European payment partner for the hospitality industry, offering a full-service package which is completely integrated in to the hotel’s infrastructure, enabling hotels to deliver on their omnichannel promise.”

He added: “Worldline has long been a partner of choice for the hospitality industry, in part thanks to our strong expertise, but also because we continue to innovate and offer excellent technical support. This means that our customers always stay ahead of the curve, providing their guests with a best-in-class payment experience.”

For more information, visit: www.worldline.com/hospitality-suite

Wilco Slabbekoorn (47) has joined Nets Group as Senior Vice President, Retail Europe and Omnichannel Payments, in the Merchant Services division. Based across Copenhagen and Amsterdam, Wilco will be responsible for building one pan-European commercial retail organisation, leveraging all capabilities, knowledge and experience in the Nets Group of companies. The aim of this commercial entity will be to serve highly demanding local and international enterprise retailers, in a very fast-paced, dynamic and digitally accelerating landscape, where consumers want to enjoy a seamless experience across Nets’ merchant channels.

Wilco has more than 20 years of professional experience in financial services, mostly in international leadership roles. Before joining Nets Group, he was Vice President of International Sales at Arvato Financial Solutions. As Business Development Director, Retail at Worldpay from 2012 to 2018, Wilco developed extensive and in-depth payment expertise, following almost six years at Experian.