• Product Reviews
• 01.02.2021 04:34 pm

What does the product do?

With enterprises holding more content than ever before, and with the importance of that content growing, Nuxeo helps businesses maximise the value they get from their content by building smart content applications that enhance customer experiences, improve decision making, and accelerate products to market.

Nuxeo is helping shape the future of financial services with an innovative platform that digitally transforms the business at speed, and delivers value throughout the organisation. Using modern technologies like open source, cloud, microservices, and AI, Nuxeo accelerates application and solution delivery to solve today’s biggest information management challenges.

Its approach to legacy IT modernisation maximises current IT investments, mitigates risks and minimises business disruptions - while strategically modernising for the future. Nuxeo helps financial services organisations realise measurable results faster and achieves other goals including:

• Deliver Richer Customer Experiences

• Reduce Time to Market

• Increase Operational Efficiency

• Meet Compliance Requirements

Who needs the product?

Large banks willing to modernise their IT systems,  get a centralised vision of all their information, improve their customer experiences and provide new services to their customers.

How user-friendly and accessible is the product?

The product provides a user-friendly interface so it is accessible by anyone that needs to do so within an organisation. With its low-code configuration tool Nuxeo Studio, users can easily configure the platform to adapt to their specific needs.

The product is based on rest API so can be connected to the business solutions, allowing the users to keep working on their everyday tools.

What is special about the product?

Nuxeo leverages the latest technology to:

• Provide advanced AI technologies and machine learning helping its customers to get more value from their content.

Whether a user is interested in classifying insurance claims or products, Nuxeo Insight can form intelligent predictions based on the information already held. It will classify, predict, and enrich documents, rich media, and other content, with no coding or machine learning expertise.

• Offers the most scalable platform in the market

Nuxeo has benchmarked its platform on more than 10 billions documents so can scale as far as any organisation needs to.

• Provide a single source of truth

With its federation capabilities and based on rest API Nuxeo can connect with a large number of ECM platform and business solutions to provide to its customers a centralised vision of all their information

• Manage all type of contents

Nuxeo manages documents, videos, photos, 3 files, etc and almost any content type that a modern FS organisation is likely to work with.

What are the main features of the product?

Nuxeo offers a large range of enterprise content management features:

• Ingestion

• Classification

• Search

• Browse

• Native file viewers

• Check-in/out

• Lock

• Collaborative editing

• Document authoring

• Versioning

• Secure file sharing

• Security

• Audit

• Mobile app

• Workflow designer

• Task manager

• Integration to key capture

• Integration to records management

• Integration to digital signature

What are some real case examples of product implementation in the bank or financial institution?

Discover how ABN Amro steps into the Future of Information Management

How a Top UK Bank Improved Customer Experience Through Digital Transformation

Virgin Money has added leading FinTech, Codat, to its growing team of technology partners as it strengthens its digital business banking credentials. London-headquartered Codat’s financial technology offer will play a key role in allowing seamless and secure exchange of data between Virgin Money and its business bank customers.

The agreement is the latest partnership from Virgin Money as it continues to develop its working capital health proposition, which aims to transform the Bank’s existing business current account and forms part of its commitment relating to the recent £35m award from the Banking Competition Remedies (BCR) Capability and Innovation Fund.

A key part of Codat’s remit with Virgin Money will be to help drive the insight that the Bank will provide to customers as part of its SME wellness tracker, which will launch later this year. Further application of the technology is being explored in order to accelerate the Bank’s commitments to enhancing working capital health solutions for SMEs, and data-driven insights for relationship managers.

Codat connects the internal systems of small businesses to banks, FinTechs and other financial institutions, allowing business data to flow back and forth in real time. Enabling financial services organisations to integrate with a wide and growing range of accounting, banking, and commerce platforms used by SMEs means banks and lenders can ultimately improve the products and services they offer their customers.

Codat is a British start-up founded in London in 2017. It has received £7.5m in awards from the BCR Capability and Innovation Fund to facilitate the commercialisation of financial technology that is relevant to SMEs. In 2020, the FinTech secured investment from Index Ventures and announced several new commercial and data partnerships including with Microsoft.

Gavin Opperman, Group Business Director at Virgin Money, said: “Our working capital health proposition will be unique to the business banking market and Codat is an important ingredient which will help us realise our ambitions in this area. A key part of our approach is collaboration with external partners like Codat, bringing expertise and knowledge to help build a compelling customer proposition. By introducing clever, intuitive software, customers will have a new level of insight to help them understand their own business, allowing them to manage efficiently and grow their operations.”

Pete Lord, CEO at Codat, said: “We’re thrilled to be working with the team at Virgin Money because they recognise the importance of building a bank with the best data infrastructure from the outset. Our API offers many powerful use cases that strengthen the relationship between bank and customer. It is a foundation for the future of banking and a journey we are very excited to partner on with Virgin Money.”

HIPS Payment Group Ltd, a provider of innovative and cost-effective e-commerce and mobile payment solutions, and licensed bank, Banking Circle, which delivers ground-breaking financial infrastructure for Payment businesses and Banks, today announced their partnership, which enables Hips to offer settlement with domestic payment rails.

“With this important partnership, Hips can easily provide our payment product solutions globally as Banking Circle allows us to offer instant currency conversion, providing our customers with a means to purchase any items or services in their own currency,” says John Cavebring, CEO of Hips.

“This partnership strengthens our global leadership in simplifying payment processing for a business of any size.”

The two companies will leverage each other’s technology to bypass old, bureaucratic and expensive systems. Instead of sending expensive international wire transfers, Hips can now use Banking Circle’s infrastructure to send payouts to merchants quickly, at low cost, compliantly and securely.

Anders la Cour, co-founder and Chief Executive Officer of Banking Circle, added: “We are delighted to be working with Hips, as our collaborative technologies will further enable Payments businesses to seize more opportunities in the new economy. Our partnership provides modern and efficient methods of international payments and settlements and FX, underpinned by strong compliance enabling Hips to add value to its service proposition.”

Hips provides an array of payment product solutions in terms of technical offerings, commercial savings and shorter go-to-market timelines for any bank or fintech startup, regardless of size.

Governments, banks, notaries and e-ID schemes around the world can now access multi-jurisdictional advanced and qualified remote e-signature and e-sealing services from a single source, thanks to a new partnership between Cryptomathic and Connective, announced today.

The world over, organisations that deal with confidential information require flexible and interoperable trust services to sign or seal data, contracts or documents at the assurance level required in all their related jurisdictions. Regulatory differences around the world together with widespread national mandates to use local digital certificates have, until now, stifled adoption of high security remote e-signature and e-sealing technologies in cross border use-cases; a problem that is increasingly threatening to curb the growth of the global digital economy.

Cryptomathic and Connective have combined their strong skillsets in remote signing and advanced signature workflows to address this problem head on.

Under the terms of the new partnership, Cryptomathic’s e-signature solution, Signer, will provide the remote qualified e-signing and e-sealing technology behind Connective’s multi-jurisdictional e-signature solution, allowing signatories across borders to remotely co-sign documents and transactions using up to the highest level of e-signature security and legal assurance according to their respective regulations, including eIDAS (Europe), ZertES (Switzerland) and also additional e-signature Laws from Singapore, US and others. To further strengthen the offering, the partnership also includes Certification Authority and Qualified Trust Services Provider, BE-YS, which specialises in managed services in compliance with eIDAS, GDPR and PCI in a privately held data centre. BE-YS’s control over the back-end delivers an unrivalled level of flexibility for users of the solution, enabling it to integrate with a wide range of eID and video identification providers. The solution will be offered either as a trust service or as a managed service using multi-tenant, multi-policy models.

“Cryptomathic and Connective are providing a European solution to a global problem,” comments Guillaume Forget, Managing Director, Cryptomathic GmbH. “By combining our strengths, we are overcoming a major barrier to adoption for high-security e-signature services around the world. As global lockdowns continue to accelerate adoption of digital business processes, every organisation operating across borders will, at some point, need to perform a high security e-signature backed by the laws that govern its jurisdiction. Through this partnership, we have made these services quickly and easily available, regardless of where the signatories hail from.”

“This partnership extends the eIDAS regulation’s spirit of cross border interoperability to the rest of the world,” adds Nicolas Metivier, CEO, Connective. “Never in the history of the world’s economy has it been more important for organisations to be able to establish digital trust. This seemingly simple goal has been frustrated by the differences between legal mandates and the fragmented nature of the digital ecosystem. By creating a hub that can provide multi-jurisdictional compliance at the highest security level, counterparties across borders can now utilise these technologies in corporate identity, contract signing, and other transactional use-cases safe in the knowledge that their e-signature comes with the legal assurance of their local governing body.”

The partnership between Cryptomathic and Connective incorporates qualified trust services provided by BE-YS and builds on a five-year legacy of successful liaisons between the firms. The first customer implementations are already underway with both public and private sector organisations in Europe and the partnership anticipates sharing further news in the coming weeks.

ZEN (zen.com), a licenced European fintech company, has announced its launch in 32 markets, including the UK, with the support of Currencycloud, a leading provider of B2B embedded cross-border solutions. ZEN’s goal is to revolutionize digital payments and drive the future of commerce in order to simplify the online experience for both merchants and consumers.

Technology and the pandemic have combined to deliver rapid growth of ecommerce - in the UK 80% of active shoppers are online shoppers [1], making it the third most advanced online trade market globally. There were 85,000 new online businesses launched only during the first lockdown in Spring 2020 [2]. Such a huge digital shift requires adequate tools to manage both consumers’ and sellers’ expectations in the new-normal era.

ZEN’s mission is to give consumers and businesses peace of mind in managing their money and shopping transactions. Consumers shopping online can count on a variety of benefits, including a multi-currency current account and automatic 1-year extensions of product warranties, while business customers avoid chargeback claims and take advantage of instant payments from their clients.

ZEN’s services are available via desktop and a mobile app, in a transparent subscription model. Thanks to low costs, the latest digital innovations and great user experience, this fintech tool is perfectly suited for managing shopping transactions, especially in the booming e-commerce sector.

“As someone running my own international, digital business, I have encountered many challenges while managing my finances. Using traditional banking solutions has been taking up too much of my time and distracting me from the focus of growing my business. This experience has made me realize that there are other people like me who need a comprehensive, digital financial suite, which gives peace of mind in terms of managing money and shopping transactions. This is how the ZEN concept was born,” said ZEN’s founder, Dawid Rozek.

Partnership to bring innovation

ZEN and Currencycloud identified that in order to offer ZEN’s customers the most flexibility possible and add the most value to their shopping experience, it was necessary to take advantage of the entire Currencycloud suite of products and services. Thanks to this cooperation, businesses using ZEN have the ability to create accounts for their customers that allow them to pay, collect and hold 35 currencies, as well as provide settlement solutions for customers using other PSPs.

Nick Cheetham, Chief Revenue Officer at Currencycloud, commented: “We have worked closely with ZEN to ensure they had the right services in place to successfully launch to both businesses and consumers. Currencycloud Spark, our multi-currency e-wallet solution, fitted perfectly with ZEN’s broader offer, and we look forward to watching them grow in the coming months and years ahead.”

ZEN’s solution, with Currencycloud as its trusted technology partner, is now available in 32 countries in Europe [3], with its digital money license passported across the European Economic Area. For more information visit www.zen.com.

For Data Protection Day 2021, PCI Pal®, the global provider of cloud-based secure payment solutions, is today encouraging organisations to implement a culture of security to make year-round compliance a priority, to safeguard customers’ payment card data amid rising cyber-fraud risks.

With reports¹ from the Royal United Services Institute (RUSI) stating that credit card, identity and cyber-fraud has reached “epidemic levels” and become a “national security threat”, PCI Pal’s Chief Information Security Officer, Geoff Forsyth is urging organisations to adopt a data and payments security compliance plan for 2021:

“Verizon’s 2020 Payment Security report² found – for the third year running – that just over a quarter (27.9%) of organisations assessed had maintained full Payment Card Industry Data Security Standard compliance during their interim compliance validation, meaning a majority who were previously assessed as fully compliant, were not compliant at their interim validation.

“With the RUSI highlighting the increasing security risks facing the UK, in addition to the Crime Survey for England and Wales confirming that 3.7 million credit card, identity and cyber-fraud incidents were reported in 2019-20, 2021 is not the year to be complacent about security and compliance. 

“Organisations should be sufficiently prepared with the ongoing resources that are required to maintain year-round measures. A whole-company approach is needed so everyone within the organisation is aware of the important obligations and penalties for non-compliance; regular assessments should be in place with all staff so they are kept updated on the risks and understand the importance of security best practice.”

1. https://www.bbc.co.uk/news/business-55769991 - Fraud epidemic 'is now national security threat'
2. https://enterprise.verizon.com/en-gb/resources/reports/payment-security-report/ - Verizon Payment Security Report 2020

Colt Technology Services has today announced the appointment of Mirko Voltolini as Vice President of Strategy and Innovation. In this newly created role, Mirko will seek to underpin Colt’s product capabilities with innovation and the latest emerging technologies in order to ensure Colt remains an industry leader. This role will also go beyond products and technology, with Mirko and his team playing a pivotal role in defining and driving the execution of Colt’s broader strategy.

Formerly Head of Network On Demand, Mirko previously oversaw the development of Colt’s award-winning on-demand platform, as well as driving Colt’s development and delivery of its online digital customer experience offering.

Mirko also sits on the MEF board, where he works with the wider industry to define today’s network communication standards.

Colt’s CEO, Keri Gilder said of Mirko’s appointment: “Mirko has always been someone in our business who constantly seeks to share his wealth of technical expertise, in order to drive Colt forward. I am thrilled to elevate him into this new role so he can continue to pair up his knowledge of innovative technologies and his knowledge of Colt to allow us to continue to transform our organisation.”

Mirko added: “I feel very privileged to be taking on this new role. Seeing both Colt and the industry evolve and innovate has been something I have always been passionate about, and I feel this next period will be particularly exciting for our sector. The way Keri has structured our organisation primes us to be ready to assist enterprises as they prepare for their next wave of growth, and that’s exactly what we’re going to do.”

Raindrop is a flexible, smart and secure solution specifically designed for self-employed workers to save for their futures in one easy-to-use online platform.

A new fully digital, flexible and smart pension platform, designed specifically for self-employed workers, has officially launched this week.

In a major first for nearly five million self-employed UK workers, Raindrop is a brand new, standalone, unique solution, bringing together all the crucial aspects of a pension into one platform designed for the specific needs of the self-employed. The fully digital, fully flexible, and secure solution ensures that even more of the workforce can avail of the government’s 25% tax top-up.

Operating as an appointed representative of an FCA regulated principal and supported by access to funds of global investment manager BlackRock, the Raindrop platform was developed by seasoned city professionals and tech entrepreneurs Marco Ross, Phil Fortio, Raul Tudor and Vivan Shridharani.

Sweeping the competition aside, the founders pinpointed a major gap in the market for a bespoke digital and flexible pension solution which brings all the crucial elements needed by self-employed workers into one easy-to-use platform – and raised significant investment capital to ensure it gets to market.

The Raindrop leadership team is also advised by renowned UK pensions industry expert, Raj Mody, and financial technology adviser, Nic Lenz.

A major tech and financial development for 2021, Raindrop offers investment options which empower users to choose a pension plan carefully designed to be invested in a way that meets their desired retirement date.

In addition, Raindrop provides a unique pension AI bot service which can assist with finding old pensions, even for customers with minimal information on their old plans. Through the pension bot service customers can find the old plans and consolidate them into one pot, although they are under no obligation to do so.

Raindrop Chief Executive, Marco Ross said: “Self-employed workers have long been forgotten when it comes to the current and complex pensions landscape. We know that there are many barriers for people in saving for their future and few solutions that solve them, until now. We also know from recent research that the pandemic has had a big impact on the ability of self-employed people to save and they want to do so flexibly.”

“Raindrop goes much further than what is currently available in that it has been developed specifically for the millions of self-employed workers across the country, but also provides one easy-to-use platform to empower them to plan and save for their retirement in a way that suits their circumstances. Future financial planning has never been more important, but it has also never been easier with Raindrop.”

The new platform can be set up in less than ten minutes and allows millions of savers who are self-employed, but who have been left out of benefits of auto-enrolment, to directly invest in a pension in a way that suits them.

A recent report published by the UK government-backed pension scheme, Nest, revealed that more than 80% of self-employed workers had no pension – yet three quarters of those polled still wanted to set aside money for their future. Further research shows that 57% of self-employed people like the idea of being able to automatically, but flexibly, divert a proportion of their income into a pension.

While the mandatory introduction of auto-enrolment from 2012 helped to gradually boost pension savings for payroll workers, self-employed workers were left out, with many unclear about where to start.

Chief Product Officer, Philip Fortio said the new platform would transform pension provision for a new generation.

“Raindrop is flexible, secure and smart and works for every freelance or self-employed worker, from accountants and plumbers to architects and vets. As well as bringing together all the important aspects of pensions for self-employed people into one, easy solution, Raindrop empowers people to pick a pension plan based on the date they want to retire.”

Savers also have the option to flexibly adapt their pension payments whenever they want, opting for regular or one-off payments, or even pausing contributions.

“I was self-employed for almost a decade and know first-hand how complicated and difficult to navigate the pensions landscape can be, which is why accessibility is such an important aspect for us at Raindrop. With Raindrop, setting up a pension can be much quicker and even easier than tackling your online shopping, giving you all the flexibility and choice you need at your fingertips, and has the potential to transform the financial futures of millions of people across the country,” the company’s Chief Technology Officer Raul Tudor said.

The technology also uses a range of already well-established investment options from investment manager BlackRock to ensure consumers can be confident that their money is appropriately protected.

Vivan Shridharani, Raindrop’s Chief Commercial Officer, spoke about the company’s ambitions: “We’ve had excellent feedback from customers who have already used Raindrop as part of our testing and development. As well as appreciating the flexibility and automated features, they know that their investment is secure. We’re also in the process of developing a series of educational resources and building new partnerships with other organisations so our customers have access to an even wider range of expertise and support.”

For more information, visit: www.myraindrop.co.uk.