SIA and AVM Holding (Azienda Veneziana della Mobilità – the Venice public transport company) have signed an agreement to create an innovative digital platform that will allow residents and tourists to buy tickets using payment cards and smartphones, also in contactless mode, on board the “vaporetto” boats where the crew will be equipped with 650 Android SmartPOS terminals. (VIDEO) 

The new service, which AVM Holding expects to launch by the end of the year, will significantly improve ticket payment and issuing procedures making the experience simpler, faster and more secure for residents and the millions of tourists getting around Venice every year.

The innovative digital infrastructure designed and developed by SIA, which also manages the latest generation SmartPOS terminals provided by Pax Italia, will allow the vaporetto crews to select the passenger’s ticket type, accept payment by card or smartphone and print it out alongside a receipt, using a single, lightweight, manageable and secure device.

The terminal can also read Tessera Venezia Unica passes valid for transport in Venice, already held by local passengers, and validate all tickets and passes bought at the network of ticket offices, and automatic machines, also by reading Barcodes or QR codes.

In addition, SIA will make available to AVM Holding a dedicated App Store able to manage further applications, alongside those relating to payments for travel, specifically designed for the SmartPOS terminals used by boat crews, thus expanding the offering of innovative services for all passengers.

“E-payments are now present everywhere at international level and with this initiative we make them fully operational for our entire navigation network. This project benefited from the significant collaboration of our IT division with SIA as a primary industry partner and is one of the elements of the technological development of AVM Holding as set out in the Investment Plan defined in agreement with the Municipality of Venice", stated Giovanni Seno, General Manager of the AVM Holding.

“We are very proud to have created a Smart Mobility project for Venice, consistent with our strategy to support national initiatives for digitalization of payment services, in particular in the public transport sector. Venice is the second city in Italy, after Milan, where SIA has enabled residents and tourists to buy tickets electronically, thanks to technological innovation that aims to make also the processes of transport companies more efficient”, commented Eugenio Tornaghi, Marketing & Sales Director of SIA.

Finastra announced today that it has launched a tailored, Securities Financing Transaction Regulation (SFTR) reporting tool that will help banks prepare for the April 2020 deadline. Built on Finastra’s existing Regulatory Reporting solution and based in the cloud, it meets banks’ need for fast, automated trade reporting, and will help them reduce time and costs associated with data capture and compliance.

Michael Henssler, General Manager Treasury and Capital Markets at Finastra said, “Regulatory reporting is a vital but highly complex process for financial institutions. Many banks are still using manual, labor-intensive processes to report on regulations such as MiFID II and EMIR. From April 2020, banks and investments firms will need to start reporting on securities financing transactions – a daunting task should they not have the right resources and technologies in place. By moving Regulatory Reporting to the cloud, as a managed service, we are enabling banks to report at speed, removing complex manual processes. Those who chose cloud-based technology will be more prepared when it comes to new regulations and can free up resources to focus on new revenue streams.”

Regulatory Reporting as a Service, hosted in Finastra’s private cloud, is a single regulation tool. It collects and checks transaction information, such as repurchase transactions, securities or commodities borrowing and margin lending agreements, from banks’ own or third-party systems. By plugging their solutions into Regulatory Reporting as a Service, banks will also benefit from easy upgrades, rapid set up and reduced risk. The solution enables banks to be ready to handle new and changing regulations, whilst keeping in line with previous mandates which are also covered in the system, such as MiFID II and EMIR.

Virginie O’Shea, Research Director at Aite Group said, “Regulatory risks are minimized when data is securely stored in a cloud environment, and business value can be unlocked from combining data across the silos that exist in nearly every large capital markets firm. Even regulators are using cloud environments for cross-industry data aggregation purposes. In an environment that is as global as capital markets, working with a strategic repository of reporting data is a key benefit as regulators in other jurisdictions may follow their peers in implementing similar compliance obligations.”

As more and more banks open their APIs before the September 14 deadline, Salt Edge has added another one hundred to the list of its connected open banking APIs in the EU, making it 400+ integrations.

Gaining more speed along the open banking trajectory, just in the last two weeks Salt Edge has added a hundred more APIs and after the big number of 300+ in August has already integrated with 400+ banks across Europe and beyond, including Bank of Ireland, Ulster, Permanent TSB in Ireland, and MONETA Money Bank, UniCredit in the Czech Republic. 

A special focus was put on Italy with connections to Fineco, Banca Monte dei Paschi di Siena, Intesa Sanpaolo, Credito Emiliano, Ubi Banca, Crédit Agricole, Banca IMI, Banca Fideuram, and many others, making a total of 100+ Italian APIs at the moment. 

Integrating European open banking APIs still is not all roses, as the process is full of challenges due to different interface characteristics, implementation ways, and other issues, adding unnecessary friction. Salt Edge continues working towards its goal of connecting all the available open banking APIs and plans to expand its geography even further. Next banks in line to be integrated are ABN AMRO in the Netherlands, Sparkasse Bank, Volks-Raiffeisen Bank in Germany, UniCredit Group, Erste Group, and so on.

 Fenergo, the leading provider of digital Client Lifecycle Management solutions (CLM) for financial institutions, has appointed Louise O’Connell to the newly created role of Chief Customer Officer. The new role is aligned with Fenergo’s strategic goal to become even more client centric and was created to establish a cohesive support function for its growing client base. Recent growth is attributed to expansion into new financial segments including retail, business, commercial and private banking as well as wealth and asset management.

With over 25 years’ experience in the financial services and technology sectors, Louise is responsible for creating a cohesive experience through the alignment of client-facing functions including professional services, product management, customer support and regulatory/compliance.

Marc Murphy, CEO, Fenergo, said: “We are thrilled to welcome Louise to the position of Chief Customer Officer. With decades of experience working in technology and operational roles in financial services and a laser sharp focus on customer experience, Louise is perfectly placed to deliver successful outcomes for our customers.”

“In today’s competitive landscape customer experience is key and we wanted to create a central role that would ensure deeper relationships with our clients. This flexing of internal processes will also help Fenergo to prime the business for further growth and expansion”, continued Marc.  

Louise O’Connell, Chief Customer Officer, Fenergo, said: “Faced with increased regulatory complexity, evolving client preferences and competition from challenger banks, financial institutions are focused more than ever on improving client experience. In my new role I will be driving a coordinated, client-centric engagement model. I’ll be working closely with our customers on product requirements, ensuring successful program delivery and effective client support while enabling a path to self-sufficiency. A continual assessment and review process will ensure that we are driving the most successful business outcomes for our clients to support them in meeting their digital transformation goals.”

Louise joins Fenergo having previously held roles within the asset finance/leasing industry, working as European Operations and IT Director for CIT Bank and as Chief Operating Officer for PEAC (Pan-European Asset Company). Louise has a background in technology, having worked in a variety of roles including technical support, customer service management, business analysis, project and account management for IT companies such as Corel Corporation, Compaq/IT Alliance Ltd. and Microsoft.  Louise will report directly to CEO Marc Murphy.

CoinCorner’s CEO, Danny Scott, commented:                                     

“The Bitcoin Lightning Network is such an amazing and innovative step forward for the development of Bitcoin, making it useful for every day payments at mass scale.

Lightning is a new piece of Layer 2 technology sat on top of Bitcoin. It’s only been running on a live environment for the last 18 months and is still in beta stages, meaning that bugs and exploits are to be expected - people shouldn’t be scared by these issues being found at the early stages. 

Every piece of technology has bugs and exploits. For example, think of all the Windows updates your computer regularly downloads and installs. A large portion of these are typically for security vulnerabilities, with some so extreme that they can allow remote control of your computer. But, people don’t worry about these as they have just become a part of the way the world works. 

CoinCorner’s tech team has been researching the Lightning Network for some time now and we’re slowly introducing it into our systems. We hope to be releasing our Lightning wallet and Lightning payment gateway in the coming months”. 

To support India’s EMV® migration, FIME is launching the country’s first Level 1 contactless testing laboratory and certification services. Payment terminal manufacturers will benefit from local support for their EMV projects, optimizing time to market and costs. 

Combined with the India laboratory’s EMV Level 2 and 3 testing and consultancy services, FIME will offer local players unrivalled end-to-end support to quickly and cost-effectively define, design, develop, deploy and validate contactless products. This helps fast-track compliance with the nation’s digital transformation requirements.

“Migrating to a chip-based payment infrastructure takes time, but it’s an extremely important project that’s made substantial progress,” comments Nalin Bansal, Head of RuPay from National Payments Corporation of India (NPCI). “As terminal manufacturers work to meet rising demand for EMV-compliant products, locally-available support from expert partners like FIME is fundamental to promoting low cost devices and cut down certification cost and timelines considerably.”

“FIME supported us step-by-step when we designed and launched the first made-in-India payment terminal, supporting our final certification via its France lab,” comments Mr MV Gowtama, CMD at Bharat Electronics Limited. “We’re delighted to hear its plans to offer these final certification services locally and its commitment to enabling Indian vendors to succeed globally.”

“Government initiatives such as the RuPay scheme and launch of the National Common Mobility Card (NCMC) are really driving demand for EMV products across payments and transport,” comments Angaj Bhandari, Country Manager of India and South Asia at FIME. “FIME has supported Indian innovation for over 15 years. Combined with our local expertise, these new services will be invaluable in helping vendors quickly and cost-effectively get products to market locally and internationally.”

Flagstone, the UK’s largest cash deposit platform, has been recognised in LinkedIn’s ‘Top Startup’ list celebrating the fastest growing and most exciting new companies to work for in the UK.

London based FinTech, Flagstone, has been included in LinkedIn’s 2019 Top Startups, which reveals the 25 hottest UK startups to work for; companies which are 7 years old or younger, growing massively, disrupting industries, shifting talent flows around the world and, often, altering how we work and live.

The LinkedIn Top Startups list is derived from a blended score, parsed from billions of actions generated by LinkedIn’s 645 million members, looking at factors including employment growth, engagement with the company and its employees, job interest, and the ability to attract top talent.

Flagstone’s Chief People Officer, Susanna Brown, said:

“Flagstone has enjoyed incredible growth since its inception in 2013, in equal measure because of our unique FinTech value proposition and the passion and dedication of our people.

The growth we’re experiencing in the market, in terms of the accelerating number of clients using the platform and the billions of pounds transmitted through it, has been reflected by the rapid growth in our fantastic team. We’re building high performing teams within centres of excellence across all areas of our business. It’s been an exciting experience to have grown the business to this stage of its development so quickly, and it’s going to be a once-in-a-lifetime career opportunity for anybody who joins us on the next part of our journey!”

F-Secure Countercept, an award-winning managed detection and response (MDR) solution from cyber security provider F-Secure, has won the trust of another US-based enterprise in a new deal. The contract, valued at over one million dollars (USD) per year, affirms F-Secure Countercept’s position as a world-class solution that enterprises trust to help them contain today’s increasingly advanced threats.

“Businesses are catching on that when they can’t prevent an attacker from infiltrating their network, they can still proactively hunt threats down, isolate them, and expel them before any serious damage is done,” says F-Secure Countercept Managing Director Tim Orchard. "Countercept’s strengths in these aspects of incident response distinguish it from conventional detection and response solutions, and provide valuable capabilities to companies that find themselves struggling to find people and resources for their own incident response teams.”

A recent F-Secure whitepaper highlights that preventing attacks is becoming more difficult thanks to the spread of tactics, techniques, and procedures spreading from sophisticated threat actors to a wider variety of groups. And companies are struggling to find attackers once they’ve breached the perimeter. Verizon’s Data Breach Investigations Report 2018 found that 68 percent of attacks went undetected for months.*

The global cyber security skills shortage is only making the situation worse. Two-thirds of organizations admitted they did not have enough cyber security professionals to deal with today’s threats in a recent survey.** Another survey conducted among cyber security professionals found that 64 percent were considering leaving their jobs due to the mounting pressure of protecting their organizations.***

Orchard says this adds up to a problem that companies need to solve by changing their approach to security operations.

“Throwing money at security issues isn’t the magic bullet companies might think. Instead, companies should adjust their operations to a continuous response approach that harmonizes people, processes, and technologies to work hand-in-glove to combat attacks in real-time,” he explains. “This process works for companies big or small, and implementing it successfully is good for companies’ defenses, personnel, and ultimately, their bottom lines.”

F-Secure Countercept is a fully-managed service that helps organizations hunt down threats and detect advanced attackers within minutes. It provides advanced threat intelligence, expertise, and threat hunting capabilities, giving businesses advanced cyber defense capabilities to combat modern targeted attacks as they unfold.

Fiserv, Inc., a leading global provider of payments and financial services technology solutions, is enabling banks and credit unions to transform the branch experience with convenient self-service options for account holders. Interactive Branch Kiosk from Fiserv provides consumers the ability to conduct transactions within the branch lobby, drive-thru and other physical touchpoints. The kiosk integrates with the VerifastTM palm vein identification solution from Fiserv to provide the ease and security of biometric authentication.

“Offering a comprehensive self-service option saves our members time, and the integration of Verifast for biometric authentication gives members the peace of mind that only they can access their accounts,” said Andy Joneson, vice president of technology at Members Cooperative Credit Union, one of the first financial institutions to implement Interactive Branch Kiosk. “Fiserv is helping us advance our branch strategies so we can deliver a unique experience and allow our members to interact in the way that is most convenient for them.”

According to Expectations & Experiences, the quarterly consumer survey from Fiserv, one half of U.S. consumers have visited a bank or credit union branch in the prior month. The top reasons for visiting a branch are to make a deposit, cash a check, or withdraw cash, transactions that can be completed quickly and conveniently with a self-service device, allowing consumers to manage their transaction and get on with their day.

Interactive Branch Kiosk allows consumers to check balances and make payments on loans, withdraw cash against credit cards or debit cards, authenticate over-limit cash withdrawals, make money transfers, and complete other advanced transactions typically done at the teller line. Multilingual capabilities mean consumers can interact in their preferred language.

“Interactive Branch Kiosk can automate a significant number of transactions that take place within a branch,” said Shawn Holtzclaw, general manager and senior vice president, Fraud, Risk, ECM and Financial Solutions, Fiserv. “Consumers are empowered to manage their interactions at their pace, and branch staff are free to focus on advisory roles and more complex tasks.”

Interactive Branch Kiosk is integrated with Verifast for palm vein biometric identification, but can accommodate a range of authentication capabilities, including Card/PIN and User ID/Password. With recycling capabilities and high capacity note acceptors, Interactive Branch Kiosk minimizes the need for tellers to service the machine and creates greater efficiencies for the branch.

The Interactive Branch Kiosk hardware is manufactured by Hyosung and can integrate directly with a bank or credit union’s core account processing platform and card services network. Core integration means every account can be accessed from the kiosk, and users have the same access to just-deposited funds as they would through the teller line. Core integration also means kiosk transactions are not dependent on video or remote tellers to provide self-service banking capabilities.