Nutanix, Inc. (NASDAQ: NTNX), a leader in private cloud, hybrid, and multicloud computing, announced the appointment of James Sturrock as Systems Engineering Director for Western Europe and Sub-Saharan Africa (WEURSSA).

Promoted from his previous position as Systems Engineering Manager, James Sturrock has taken up the position of Systems Engineering Director for WEURSSA at Nutanix. Ultimately tasked with driving sustained growth in the region, James will also be responsible for all technical resources in the WEURSSA region as they engage with end users and channel and OEM partners.

Commenting on his appointment, James said: “I am thrilled to be taking on this new challenge at what is such a transformative time for Nutanix and the industry as a whole. With such a talented team around me and an unrivalled technology portfolio, I look forward to playing my part in advancing Nutanix’s leadership in hybrid cloud infrastructure.”

Having joined Nutanix in early 2015, James has held various roles within the Systems Engineering team and was quickly promoted from Engineer to Manager and now Director. During his tenure as Systems Engineering Manager, James was responsible for growing the Systems Engineering teams in Ireland and Scotland by attracting some of the very best talent in the region. This, in turn, supported significant growth in the region over the last two years, with Nutanix acquiring a number of high profile clients in the Finance, Utility and Public Sector verticals, delivering highly complex solutions that are a testament to the skill and tenacity in his team. Prior to joining Nutanix, James started his career in the NHS and went on to hold various IT Consultancy roles, including the position of Head of Consultancy at Nugensis. 

Rob Tribe, VP, Systems Engineering, EMEA at Nutanix, said: “James’ unfailing energy and character ensure he forms strong relationships with every customer he meets. That, coupled with his extensive technical background and proven business acumen, make him the obvious choice to capitalise on the significant opportunities ahead for innovation and customer delight.”

Today Datomize announced the completion of its $6 million seed funding round for the commercialization of its synthetic data solution that accelerates time to market for artificial intelligence (AI)/machine learning (ML) models and new products that drive business growth. This funding round was led by TPY Capital, as part of its thematic focus on groundbreaking data and analytics startups, with participation from its first investor F2 Venture Capital, which backs visionary big data and AI companies.

"Datomize’s synthetic data revolutionizes the AI/ML and IT lifecycle by removing the major bottleneck that prevents the successful deployment of AI/ML models and continuous delivery of evolving applications,” said Avi Weiss, Founder and Chief Executive Officer (CEO). "Datomize makes the generation and management of synthetic data simpler, more effective, and efficient, so that highly trained and hard to find data scientists can focus on analysis and strategy.”

There is a massive data shortage caused by data privacy laws that is limiting the effectiveness of development and training of AI/ML models. According to the Gartner Hype Cycle for Privacy released July 2020, authored by Bernard Woo and Bart Willemsen, "One of the major problems with AI development today is the burden in obtaining real-world data and labeling it so that AI may be trained effectively. Synthetic data addresses the problem of volume and variety for sparse, nonexistent or difficult to get data".

Datomize synthesizes new data that preserves the behavioral features of the original data without violating personal privacy regulations. Designed based on real customer data and insights from global banks, Datomize is uniquely able to process highly complex data structures with multiple dependencies and is fully scalable to process thousands of tables with millions of records. Datomize improves the efficiency and speed of developing and training AI/ML models and applications for hundreds of use cases, as companies become more data-driven in the new online economy.  

“Datomize has the potential to enable enterprises to unlock the value of one of the most prized assets – their data. It eliminates one of the biggest concerns of executives and regulators, jeopardized privacy, by producing synthetic data which can be used for multiple business applications,” commented Dekel Persi from TPY. “We are particularly happy to back a founding team which combines a successful entrepreneurship track record with technological depth.” 

Jonathan Saacks from F2 commented: "We are backing Datomize because they have the right solution at the right time. They are supplying exactly what organizations need to accelerate their digital transformation initiatives. Designed using real word data from international banks, Datomize has the ability to unlock the value organizations can receive from their data with the scale and speed global organizations need so that their AI/ML models are more powerful, accurate, and can become fully operational faster.”

The three Datomize co-founders include Avi Weiss, CEO, previously co-founder of ObserveIT, acquired by Proofpoint, Sigal Shaked, CTO and PhD in Software and Systems Engineering with over 15 years of experience in research and implementation of data solutions, and Roy Yogev, who has helped Fortune 500 companies bring new ideas to market for over 25 years.

Josh Gunnell, head of fraud & ID pre-sales at TransUnion in the UK, comments on the recent ONS fraud statistics:

“The latest ONS fraud statistics reveal the sheer scale of the challenge we face in the UK as cybercriminals take advantage of the digitalisation of society. UK Finance has reported a 61% increase in remote banking fraud, which equates to 61,752 incidents, whilst Action Fraud reveals social media and email hacking fraud jumped 53% to 14,241 offences in the year ending September 2020.

“These increases in digital fraud are likely to continue, given the shifts to online that have been accelerated by the pandemic alongside the social distancing and lockdown measures that continue to be imposed. This is echoed by TransUnion’s own research tracking the impact of COVID-19 in the UK, which showed that at the end of 2020, 30% of respondents had been targeted in a digital fraud attempt related to the pandemic, with 7% of those falling victim to the scams [1].

“Fraudsters adapt quickly – as we’ve seen recently with the rise in investment scams circulating on Instagram and other social media channels – and businesses need to be equally agile, continually reviewing and adapting their fraud prevention strategies and tools.

“Even some of the strategies to prevent fraud can themselves become vectors of fraud, such as the ‘confirmation of payee’ scheme. This is in place to better protect consumers but has given rise to a spike in phishing texts telling the target that a new payee has been set up and directing them to click a link for details. The threats evolve continually and in the current environment, with people banking and shopping almost exclusively online, these risks are greater than ever.

“The ONS figures would suggest fairly similar levels of overall fraud as the previous year, at 4.4 million fraud offences for the 12 months to September 2020. However, we see a varied picture from the different bodies within the National Fraud Intelligence Bureau for the same period. Action Fraud reported a 4% rise, UK Finance reported a 23% increase and Cifas, reported a 9% decrease.  As well as the nuances of the different reporting methods, we must also take into account that fraud is often going unreported. Our own research [2] into this last year showed that 75% of COVID-19 related fraud had not been reported.

“We’d expect to see continuing fluctuations in the different types of fraud as we navigate our way through the pandemic, and vigilance is key. As well as having all the essential checks in place, businesses can educate consumers to help them spot some of the signs and notify their customers when known scams are circulating.”

Medius, a leading provider of cloud-based spend management solutions, today announces that it has been named a ‘Leader’ in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Accounts Payable Automation Applications for Midmarket 2020–2021 Vendor Assessment (doc # US47032620, December 2020).

The IDC MarketScape report highlights Medius’ ability to automate the entire AP invoice process from receipt to payment, providing their customers with complete control of cash, cost, and compliance. Further, the report notes that, with its cloud-native architecture, Medius drives continuous improvement in both system and process performance using machine learning and big data techniques.

"The ground underneath the feet of today's AP professional is rapidly shifting to digital. Software vendors that prioritize features that provide enhanced visibility, flexibility, and agility in these uncertain times will find themselves well positioned for future growth," says Kevin Permenter, research manager, Enterprise Applications at IDC.

Daniel Saraste, SVP Product Strategy and Innovation at Medius, comments on the award: “We’re proud to be recognised as a Leader by the IDC MarketScape report. Our team is passionate about driving success for our 3,500 cloud-customers worldwide and this formal recognition from the IDC MarketScape spurs us to continue innovating and making our customers’ lives better every day.”

In the report, the authors evaluate eleven cloud-based AP vendors in the market using a set of criteria, including product functionality, range of services, customer satisfaction, innovation, and growth. The report concludes that companies should consider Medius when looking for an AP solution with extensive automation and integration capabilities.

For further details, you may download a complimentary excerpt of the report here.

SOURCE: IDC MarketScape: Worldwide SaaS and Cloud-Enabled Accounts Payable Automation Applications for Midmarket 2020–2021 Vendor Assessment, December 2020, IDC #US47032620e

Quorsus, providers of consultancy services to financial institutions, has today announced its appointment of Kieran Mullaley as Managing Partner and Head of Consulting Delivery. In this role, Kieran will oversee the firm’s increasing portfolio of projects with key clients and leverage his extensive consulting leadership experience to expand and enhance delivery capability. Kieran is the latest addition to the rapidly growing Quorsus team, which was founded at the beginning of 2020 and started with a small team on its roster to now over 35 people, working on a variety of projects across a range of tier one clients.

Simon Rees-Goddard, Chief Friend Maker and Managing Partner, Quorsus, said: “Kieran is renowned for building successful consulting practices in our industry and in delivering major capital markets transformation programmes. Both factors make him the perfect candidate to be managing partner for our growth at Quorsus. Demand for our services in the post trade space has skyrocketed over the last year, and Kieran will play a crucial part in keeping that impetus going in 2021. On a personal note, I am hoping some of Kieran’s discipline rubs off on me and keeps me on track as we grow further!”

Kieran joins Quorsus with 25 years of consulting and capital markets experience. He successfully established and led the capital markets operations consulting practice at EY in the UK.  He worked with senior management at top tier financial services firms to support their transformation agenda and manage the challenges of regulatory change.  Prior to EY, Kieran was a partner at Capco, leading major capital markets business and technology transformation programmes.

Kieran Mullaley said: “Throughout my career, I’ve been excited by roles where I’ve been able to help drive the growth of consulting businesses, nurture and develop talented people, and lead delivery of transformative programmes within the capital markets industry. It’s fantastic to be joining a firm with like-minded people who share those ambitions, values and culture, and is making such significant waves in the market.  The next few years will see substantial change within the capital markets industry, and I look forward to working with the Quorsus team to help our clients navigate these developments and propel our growth further.”

320 Park Analytics LLC, a wholly owned subsidiary of Mutual of America Life Insurance Company, has chosen to utilize NeoXam’s Impress SaaS solution to automate and create digital publications for pension investment benchmarking reports. 

Due to the current environment, companies have been taking longer looks at their communications strategy. Critical assessments must be made about production and distribution processes, as well as engagement of information with clients. Leveraging NeoXam’s Impress reporting platform will allow 320 Park Analytics LLC to minimize production cycles, reduce operational risk, and create and streamline custom content to enhance client engagement.

Jason McCann, Head of Sales, North America, at NeoXam, said: “Digital Technology is revolutionizing the way financial services firms engage with their clients. Adding 320 Park Analytics LLC to our growing list of clients in North America reinforces the strength of our Impress reporting platform. We look forward to working with 320 Park Analytics LLC to help execute their vision for their business.”

Tech CU, a leading credit union serving California’s technology community, announced today that it has engaged engagement banking platform provider Backbase to overhaul its members’ banking experience and implement a brand-new digital transformation strategy. The partnership will give Tech CU the ability to facilitate instantaneous software updates to minimize the time and cost associated with upgrades, all while leveraging Backbase’s specialized technical expertise to develop, deploy andoptimize new solutions. 

The partnership affirms Tech CU’s commitment to optimize its members’ digital banking journeys, enabling it to spearhead a more user-friendly, enhanced online experience. The Backbase platform enables Tech CU to streamline its entire banking technology infrastructure, breaking down internal business line siloes and reducing the number of vendors required to maintain its systems, ultimately resulting in Tech CU orchestrating an enhanced, seamless member banking experience. 

Robert Reed, Chief Retail Banking Officer at Tech CU, comments: “Tech CU’s mission is to deliver an experience that wows, and empowers our members to succeed financially – a tall order when our members are among the savviest customers in the U.S., with significant technology enabling banking expectations. They expect and, deserve, a banking experience that matches their own appetite for innovation. Backbase’s service offerings are perfectly in line with our desire to meet these expectations, allowing us to be every bit as nimble and innovative with our offerings as the industry we serve.” 

Vincent Bezemer, Senior Vice President of Americas at Backbase, adds: “The importance of instant innovation power in the banking sector cannot be overstated, and we’re thrilled to support Tech CU’s ambition to becometheleader in member-first, digital-first banking. Speed and scale are critical competitive differentiators for financial institutions looking to truly own the customer journey, and we look forward to helping Tech CU bring its vision to life.” 

Heimdal™ Security – the Danish cybersecurity company – has opened a second UK office and signed a new long-term distribution agreement as part of ambitious expansion plans which will make the UK its biggest global operation.

The new office in Leeds is within easy reach of Yorkshire-based Brigantia, Heimdal’s master distributor in the UK and Ireland. Heimdal, which currently employs 30 staff in Leeds and London, expects to more than treble that in the year ahead – outstripping the size of its teams in Copenhagen and Romania. It also aims to grow UK revenue by 500% by the end of 2021, ultimately becoming one of the country’s biggest cybersecurity vendors and a market leader in its field.

Heimdal’s unified suite combines six products into a single platform and aims to disrupt the market for endpoint protection –  a key way for companies to protect their corporate network by monitoring laptops and other devices which connect to it.

The company has had a skeleton team in the UK since 2016 but has been growing rapidly since the investment in the business by Marlin Equity Partners in March 2020 and the appointment of Ruth Schofield as Country Manager in September.

As the former MD of KnowBe4 in the UK and Ireland, Ruth was part of the team that helped it achieve $1bn ‘unicorn’ status. She said: “Heimdal is an exciting, disruptive company whose technology takes endpoint protection to the next level. Rather than just detecting and blocking threats, it seeks them out in advance. It’s like being on the door at a nightclub – we’re not just stopping the wrong people from entering but going outside to check who’s in the queue.

“Our products are perfect for the current times, when the growth in cybercrime and the move to working from home has created a fraud epidemic. This is the last thing businesses need right now but fortunately it is one epidemic for which we can offer a ready solution.

“Heimdal’s investment in the UK will be our biggest in any market. We believe it is an ideal location for an ambitious cybersecurity firm and will provide a springboard to the global market, helping us to achieve our goal to become the world’s leading intelligent security provider with a unified platform.”

Angus Shaw of Brigantia said: “We are delighted to be able to offer Heimdal’s truly unique product range. There is nothing like it on the market - not only does it simplify security and reduce costs by consolidating multiple products in one, but the automated patching solves a common problem. We believe it will revolutionise the market for endpoint protection.”

Established in 2014, Heimdal is recommended by Microsoft and has been praised by the FBI for helping to bring down the original Cryptolocker ransomware. Its cybersecurity suite comprises threat prevention, software inventory, patching, next-generation endpoint detection, privileged access management, application control, fraud prevention and - launching very soon – remote access. Clients range from SMEs to large corporates including RBS, as well as public sector bodies including the Welsh Assembly and Belfast City Council, schools such as Brentwood School and several NHS trusts.

NatWest has today announced the launch of a new grant finder service in conjunction with Swoop, which will allow UK businesses to search for grants to help their business deal with the ongoing impacts of the COVID-19 pandemic.

The bank wants to provide SMEs with greater access to third party funding which is not in the form of debt, and via this new service, aims to help connect these entrepreneurs with grant providers such as National Schemes, Local Authorities, Growth Hubs, Local Enterprise Partnerships (LEPs) and privately funded schemes.

Powered by business financing success story Swoop, the new platform will allow businesses to quickly and efficiently access tailored grant options. Following completion of a simple questionnaire, applicants can review grants matched specifically to their business, and can choose to apply directly or request assistance from Swoop. Applicants do not need to be existing NatWest customers to use the new service, which can be accessed through the bank’s website.

Andrew Harrison, Head of Business Banking, NatWest, said: “We know how challenging and unsettling this last year has been for the UK’s entrepreneurs and SMEs. The tenacity and resilience this group have shown in the face of so much uncertainty has been inspiring, and we’re pleased to have been able to help so many businesses access the funding they’ve needed, whether through our delivery of government schemes, or through more conventional lending.

But we know borrowing isn’t right for all businesses at this moment in time, which is why we’re delighted to be working with Swoop to offer business leaders simple access to the vast array of grant funding currently available across the UK. Swoop is the only holistic source of third party grant options in the UK, and together we want to help more entrepreneurs than ever before grow, thrive and survive as we look forward to a brighter 2021.”

Andrea Reynolds, CEO of Swoop, said: “We’re thrilled to partner with Natwest to deliver this much needed solution to all SMEs across the UK. Our mission is to empower entrepreneurs to make the right financial decisions every day by bringing all their finance options together in one place, personalised to their specific business circumstance.

Now more than ever SMEs need the right information at their fingertips. By combining the reach of Natwest with the power of Swoop’s advanced technology together we’re ensuring SME access to grants can support recovery and growth as we move into 2021 and beyond.”

NatWest’s new business grant finder service powered by Swoop is now live at www.business.natwest.com.

Bitstocks, the London-based fintech scale-up, has seen monthly transaction volumes increase on its Gravity platform by nearly 14% on average month-on-month since partnering with Payments-as-a-Service FinTech Modulr. The average deposit on the Gravity platform is now £3,300 per user. 

Prior to partnering with Modulr as an EMD Agent in August 2020, Bitstocks saw modest increases in transaction volumes, with a monthly average increase of just over 1%. Since then, monthly transaction volumes have increased sevenfold, increasing by 50% in November and more than a third (37%) in December last year. The Gravity platform now has over £5m assets under management. 

The uptick in transaction volumes was buoyed both by the price surge in the Bitcoin market towards the end of 2020, and the seamless integration with the Faster Payments Scheme and SEPA Bitstocks gained through the Modulr platform. This enabled Bitstocks’ users to deposit into their investment accounts to buy and sell Bitcoin. 

Harnessing the power of the Modulr platform, Bitstocks has put payments at the heart of its Gravity ecosystem; eliminating process inefficiencies and ensuring the way its users make payments is a secure, reliable and frictionless experience. 

Michael Hudson, CEO of Bitstocks, said: “We had identified that Bitstocks needed a fast and smart banking partner for our Gravity platform. From the very beginning, we’ve always taken compliance and regulation incredibly seriously. Our relationship with Modulr has given us more stability, continuity and credibility, and we’ve been able to build real momentum as a result. We’re actively embracing transparency, and with Modulr’s support, building the financial infrastructure of tomorrow, today.”

Myles Stephenson, CEO of Modulr, commented: “We have an affinity with Bitstocks. It was similar frustrations with payments inefficiencies that inspired us to build the efficient, reliable and robust payments platform that underpins the innovative Bitstocks solution today. The significant increases in transaction volumes are testament to the power of efficient payments processes. We look forward to collaborating with Bitstocks to drive further developments in their Gravity ecosystem.”

Bitstocks has leveraged Modulr’s direct participation in the Faster Payments scheme and its direct relationship with the Bank of England to get a packaged and regulated service. With Modulr’s fiat payments plumbing behind the scenes, users of Bitstocks’ Gravity platform can enjoy a frictionless front-end experience and first-class UI for buying and selling Bitcoin. Fiat and crypto can be switched instantly and easily, with unrestricted deposits and withdrawals. 

Modulr provides access to fiat payment systems and eMoney accounts. Modulr does not offer access to cryptocurrencies.