Published
- 05:00 am
MDX Technology (MDXT) the high-performance market data solutions provider, has become the first provider of connectivity to real-time market data to integrate with OpenFin, the operating system for finance, enabling financial institutions and FinTech firms to consume multi-vendor market data feeds.
With an extensive library of market data interfaces, MDXT enables OpenFin clients to connect their desktop applications to a broad range of real-time market data feeds via a single API, providing uniform access to a variety of providers, so data can be consumed by desktop and web applications, as well as excel spreadsheets. This allows users to select the best-of-breed market data provider that best fits their trading requirements and enables institutions to deliver internally derived pricing to internal proprietary and client web applications.
As a result of the application interoperability inherent to all financial desktop applications built on the OpenFin Operating System (OS), the whole ecosystem of fintech firms and financial institutions operating applications on OpenFin are able to consume fully entitled and controlled data from all major third-party providers via MDXT. This fundamentally changes the way the industry is able to consume, harness and exploit the true value of market data.
OpenFin is the de-facto digital infrastructure provider for capital market firms and the technology companies building solutions to support them. Licensed to more than 175,000 desktops, the OpenFin OS provides a web environment for agile application development and is now used to deploy more than 1,000 applications, including mission critical trading, risk and order management systems, to more than 1,500 major banks and buy-side firms.
Commenting on the partnership, Steve Wood, Global Head of Enterprise Deployment at OpenFin said: “We’re delighted to welcome MDX Technology to our community. As a market data connector, they are able to offer the growing number of companies in our ecosystem - including buy-side, sell-side firms and vendors - real choice in the data consumed by their desktop applications. Data is distributed directly to web applications and app builders can now subscribe to market data via MDXT through the OpenFin Services framework.”
Richard Gissing, CTO of MDXT added: “We are excited to bring our multi-vendor, real-time market data connectivity to OpenFin’s universe of customers. By making our extensive library of market data interfaces available via the OpenFin OS, MDXT opens up access to a wider potential audience of OpenFin users requiring market data in their applications.”
MDXT ConnectExcel (Excel add-in) and MDXT ConnectAPI (abstraction layer available for .Net, C++, Python and R) provides uniform access to real-time market data from Activ Financial, Bloomberg, Exegy, Refinitiv, Solace, Sungard, TIBCO, Vela, amongst others. The new MDXT ConnectOF extends the platform benefits to OpenFin users.
- 08:00 am
Omnio Group, a banking and payment services provider formed from the merger of Payment Cloud Technologies (PCT) and Tuxedo Money Solutions, will host its exclusive launch celebration on 26th February at the Tower of London.
Since the successful merger of the two predecessor companies in August 2018, Omnio Group has been refining its suite of innovative financial services as well as developing its all-new brand identity and is now ready to unveil its new look and vision for the future to the industry.
Hosted by Omnio Group’s CEO, Ian Clowes, and COO, Mike Peplow, the two business leaders will be joined on stage by high-profile industry speakers including a keynote speech from Chairman at Lending Standards Board, Chris Pond and former Senior Executive Director at AnPost, Liam Sheehan and Chairman and CEO at Unisys, Peter Altabef.
With wide-ranging operations across Europe, Australia, North America and Africa, the guest list is extensive and includes current clients, partners and business supporters. At the start of the evening, attendees will be welcomed for an exclusive viewing of The Crown Jewels. Following this, the all-new brand identity and plans for the business’ future will be revealed before moving on to networking, champagne and canapes.
Speaking about the event, Ian Clowes, CEO at Omnio Group commented: “With over a decade of experience of delivering world-class digital and card-based financial services to our customers through our former businesses, we’re proud to unveil the next step in our journey as Omnio Group. This is an incredibly exciting time for everyone here and we can’t wait to showcase our plans to guests next month.”
Omnio Group supports many of the world’s leading businesses and government organisations in delivering innovative and effective financial products. Through its cloud-based digital platform and back office services, it offers businesses to supply reliable and robust banking-grade financial services for customers. To learn more about the Omnio Group, visit: omnio.global
- 03:00 am
Equiniti Group plc (“Equiniti”), the multinational technology and payments specialist, has announced its creation of a specialist IT powerhouse in Bengaluru, India’s equivalent of Silicon Valley.
‘Electronic City’ where the digital hub will be located is home to many multinational IT companies, and will provide Equiniti with access to a large and sophisticated talent pool. The new venture will create around 350 jobs, the majority of which will be highly skilled roles in specialist business process outsourcing and IT development, testing and infrastructure.
Dominic McAllister, British Deputy High Commissioner of Bengaluru commented,
“This is an exciting expansion for Equiniti who have already established a strong presence in Southern India. The choice of Bengaluru for their new operation underlines the exceptional investment opportunities that exist in the tech capital of India. The UK invests more in India than any other G20 country, and this is a great example of investment in innovation and technology.”
Equiniti will harness local talent to provide key support to its growing US business, EQ by Equiniti, as well as further developing its proprietary technology platforms, which sit at the heart of the UnitedKingdom’s financial and capital markets. The 21,000 sq ft office (Equiniti India Pvt Ltd) boasts facilities like a rooftop cafeteria and its own gymnasium. Equiniti hopes these will prove a draw to Bengaluru’srising technology stars.
The new location will complement Equiniti’s award-winning site in Chennai, which has grown rapidly from around 100 employees to circa 1,000 in just five years.
Kevin McCole, Chief Operating Officer, UK India Business Council
“The UK India Business Council would like to congratulate Equiniti on their impressive multi-year growth and we applaud our partners in the Government of Karnataka for attracting this superb investmentproject, which has created high quality jobs in Bangalore.”
Guy Wakeley, Chief Executive Officer of Equiniti commented,
“We’re absolutely delighted to be opening our new digital hub in Bengaluru which we see as a perfectfit for our specialist business. By tapping into Bengaluru’s enviable tech-talent, we expect to further enhance the excellent service we offer our clients, and move closer to our vision of being the leading global technology provider for complex and regulated data and payments.”
Sam Halford, Managing Director of Equiniti India commented,
“Since becoming the managing director of the Chennai site, it has been amazing to see our people and services grow. To now be opening another office in Bengaluru is an incredible step and will undoubtedlyexpose us to many more exciting opportunities.”
- 06:00 am
Today, American Express and Bill.com announced a strategic partnership with a new offering: American Express “Vendor Pay” by Bill.com.
This new solution streamlines vendor payments, improves working capital and cash conversion cycles, and provides better data for payment reconciliation, all while helping businesses earn the rewards of the Card. In one simple online dashboard, Vendor Pay allows American Express Business and Corporate Card Members to pay their company’s bills with more control and visibility over the AP process. It also provides enhanced security through the use of unique, single-use virtual account numbers with their existing Business or Corporate Card.
“As businesses grow in size, their accounts payable needs become more complex, driven by more vendors and more invoices,” said E-Bai Koo, Executive Vice President, American Express Global Commercial Services. “As a partner to businesses around the world, we strive to make it easier for customers to get business done. We’re excited to build a long-term partnership with Bill.com, a leader in digital business payments, to offer our Card Members a streamlined approach to vendor payments.”
In addition to paying vendors via virtual account numbers, the partnership with Bill.com will also provide American Express Business and Corporate Card Members the option to pay with Bill.com’s ACH and check services. Once users enroll, they can begin to make payments through an easy-to-access navigation bar and view real time status updates. For American Express Business and Corporate Card Members, Vendor Pay offers a basic plan that provides core functionality with no monthly fee for the first user. In addition, advanced plans are also available for a monthly fee1 that provide additional benefits including bill approval workflows, synchronization with leading accounting software, and designated roles and permissions.
“The Bill.com and American Express partnership is a powerful combination of two innovators and leaders in business payments,” said Rene Lacerte, CEO and Founder of Bill.com. “American Express Business and Corporate Card Members will now have a central platform for managing digital business payments via Bill.com, with the added benefits of earning the rewards of their Card and automating their manual and time-consuming back office processes.”
In addition to partnering with Bill.com to create Vendor Pay, American Express’ corporate venture capital arm, Amex Ventures, is a long-time financial investor in Bill.com.
- 05:00 am
In addition to CEO of Sberbank Herman Gref and CEO and Founding Partner of 500 Startups Christine Tsai, the expert council of the Demo Day consisted of representatives of large investment companies such as: CEO of Medsi Group Elena Brusilova, Chairwoman of the Executive Board of Soyuzmultfilm Studio Yuliana Slashcheva, CEO of VimpelCom Vasil Latsanich, CEO of Rambler & Co Alexander Mamut, and special guest Ambassador of the Grand Duchy of Luxembourg to Russia Jean-Claude Knebeler. Each of them selected three teams with products that could complement their current business and chose the best start-up that received a special prize from experts.
Seven teams that will be sent on the foreign internship will present their projects to international investors and corporations in San Francisco.
CEO and Chairman of the Executive Board of Sberbank Herman Gref:
“Sberbank is 177 years old, and it is not easy for us to reinvent ourselves so that we can keep competing with companies that are nine or thirty years old and are much more valuable than all the traditional companies combined. We are glad that we can learn from such young companies as 500 Startups.”
Start-ups that will attend the American part of the programme:
Third Opinion - an AI-based service for automatic analysis of medical images.
Data Screen - a service for analysing and managing digital content distribution.
Heartex - tools for collecting data and transforming it into datasets.
i-Brain - an AI-based neural interface that helps people recover motor functions after brain injuries.
Mishka AI - a smart soft toy that incorporates AI and a built-in platform for delivering content for children.
Oz Forensics - a platform that verifies the authenticity of digital documents and photos.
Yorso - a B2B wholesale seafood marketplace.
CEO and Chairman of the Executive Board of Sberbank Herman Gref:
“What do we all have in common? Christine Tsai was right when she said that we all dream to leave a mark, to turn the world upside down and make it a better place. I think this is something that unites all our participants, people who are not afraid to start their own businesses. It means a lot. Each of us is likely to find their place somewhere, but you were not afraid to start your businesses, and I respect you a lot for that. It may be the bravest step of your life.”
The Russian stage of the accelerator of Sberbank and 500 Startups lasted for 10 weeks. The thirty strongest start-ups, selected by experts of Sberbank, 500 Startups and representatives of twenty-five of the project’s partners, were educated by American mentors under the original accelerator programme. During it, the teams attended more than 200 hours of lectures and workshops given by twenty-five mentors from Silicon Valley, tested 192 business hypotheses and attracted 164 large clients.
Projects in e-commerce, telemedicine, cloud technology, lifestyle, big data, AI, IoT, robotics, blockchain, VR and AR, machine learning, fintech and other areas of the digital economy took part in the accelerator.
CEO and Chairman of the Executive Board of Sberbank Herman Gref:
“I hope that you turn the world upside down, make it a better place, achieve all your goals, and believe in yourselves in spite of everything. Because each failure is the next step to enormous success. The difference between successful and unsuccessful people is not the number of mistakes, but number of times when they had the will to continue after another failure. I hope you become our competitors and beat Sberbank in this competition.”
Andrew Marshman
Senior Account Executive at ACI Worldwide (EMEA)
Despite payment vendors continuing to develop strategies for omnichannel, it is still a moving target. see more
- 06:00 am
The report follows yet another huge bumper year for M&A activity in the insurance industry, as this model becomes an increasingly common path to business growth. In the UK in 2017 alone, the value of M&A deals totalled £22 billion, according to Deloitte.
The report highlights some of the biggest decisions that need to be made in the wake of M&A activity, from who to hire from both businesses and which parts of the business to focus resources on, to the company’s objectives for the next year and which business lines to focus on – all of which can have a significant impact on the business.
Whilst brokers understand the importance of getting the deal done, post-merger or acquisition is often where the hard work begins as they get to grips with their newly integrated business.
Along with any deal comes huge pressure for the executive leadership to capitalise on it and ensure they deliver the expected ROI, as soon as possible. However, KPMG studies show that 83% of all mergers and acquisitions don’t actually increase profits. As such, Novidea’s report aims to highlight the steps that are needed to ensure that businesses make their integration as successful and profitable as possible.
The company’s comprehensive guide highlights the main concerns and challenges that businesses face when it comes to M&A success and outlines its recommendations to help brokers and agents hit the ground running post M&A, including:
- Technology – how to ensure the businesses can merge seamlessly in order to improve efficiency, tackle legacy systems issues, benefit from standardised processes and eliminate data silos.
- Leadership – tips on how the board can make sure they stay on the front foot when it comes to managing the M&A process, setting objectives, achieving synergies and keeping the customer at the centre of the company’s strategy.
- Cross and up-sell opportunities – how to deliver increased profit from the newly combined business – for example, by taking advantage of cross and up-sell opportunities that naturally arise as part of M&A.
Ben Potts, UK Managing Director, comments:
“Many brokers and insurers have M&A activity sitting high on their list of objectives, yet post-deal completion, they often realise that they have much further to go on the road to success. Following an M&A deal, we frequently hear about how firms struggle to get a handle on their newly combined business, to integrate and capitalise on revenue potential, and to ensure the business maintains a healthy growth trajectory.
At Novidea we have looked at how we can harness the power of technology to help overcome these problems, get a 360-degree view of the business, and improve decision making and profitability from the outset. Ultimately, this approach will ensure that the business meets its objectives and can make the integration a success.”
- 03:00 am
Quadient, the award-winning leader in Customer Communications Management (CCM), has announced that Beehive Online Solutions has become its first partner in South Africa. Building on its established experience supporting the financial, telecommunications and retail sectors across the continent, Beehive will use Quadient’s software to provide solutions including omnichannel customer communications and mobile application development; and support organisations in moving beyond simple customer communication and towards delivering a complete customer experience.
“Our focus is on far more than just customer communication,” said Mike Davies, Vice President Business Partners at Quadient. “Our aim is to enable a conversation between businesses and their customers, over any channel. This means offering a complete customer experience, from first contact to a satisfying resolution. Africa is an exciting market for us, and businesses there are already making use of both existing and new technology in imaginative ways to address the unique challenges their customers face. As a result, we’re delighted to enter into this partnership with Beehive, and see them as an extension of Quadient in Africa: acting as a single source for businesses across the continent to take advantage of our customer experience technology and expertise.”
Beehive has identified a step change in African businesses: as they begin to move from offering customer communications to understanding the need for a complete customer experience, where every step of a customer journey is mapped, understood and ultimately satisfied.
Beginning as a Quadient Silver Business Partner, Beehive is already engaged with customers in South Africa, Botswana and Namibia who are keen to understand how to make the next step in offering a richer customer experience. This is especially important as many customers are beginning to expect more from businesses, and are at risk of leaving for more progressive companies that can provide the experience they want. Beehive aims to offer local support to these businesses, helping them meet the challenges of the modern African economy with on-the-ground knowledge.
“There is no denying the importance of having local experience and understanding,” said Reg Bath, Executive Director, Beehive Online Solutions. “We are pleased to not only act as Quadient’s local representatives, but more importantly support our customers through what is a highly transformative time. For many African businesses, understanding and making the leap from legacy customer communications to a digital customer experience will be the difference between success and failure. Our customers aim high, and want their solutions to deliver the maximum possible value – even in areas the developers didn’t even consider. By partnering with Quadient, we are confident that we have technology that will give our customers what they need and help them forge ahead in the new customer experience-focused era.”
- 01:00 am
The Concardis Payment Group, a leading full-service payment service provider from Eschborn, andScopevisio AG, the Bonn-based supplier of leading-edge cloud enterprise software, are collaborating. The Scopevisio software, which enables companies to digitally map all their business processes, will in future integrate the data streams from the payment service provider's One Page Shop into its system. The One Page Shop is a lean e-commerce solution that combines a shopping platform and payment system in one. By integrating the payment data into the software of the Bonn-based company, financial processes such as invoice processing and checking incoming payments are automated. Credit card transactions are cleared directly by the integrated Scopevisio assistant. Manual checks are no longer necessary, which means that sources of error are reduced and users save time and effort.
"In Concardis we have found the perfect partner to drive forward efficiency and automation in midsize companies. With the One Page Shop our customers will soon benefit from an innovative e-commerce tool that can be easily integrated into their business processes thanks to the Scopevisio software," says Michael Rosbach, Executive Board Member of Scopevisio.
"With Scopevisio we share the goal of harnessing the benefits of digitisation for our customers and simplifying processes. In the One Page Shop we have developed a solution that can be configured without IT know-how, and in which all standard payment methods are already integrated. This makes our solution ideal for companies entering the e-commerce market – without major investment in a complex shop system or new business processes", says Dr Peter Walz, Chief Sales Officer of Concardis Payment Group. "Our cooperation with Scopevisio will also further simplify administrative processes for our hotel and restaurant customers, as well as retailers and service providers".
In the course of the partnership Concardis has become a member of the ScopeEconomy network built up by Scopevisio. This virtual economic community bundles the interests of small and medium-sized enterprises in order to negotiate special terms with third-party providers. Members benefit from favourable credit card acceptance conditions, among other advantages.
Scopevisio and Concardis plan to further expand their partnership in the future. This year the One Page Shop of the Eschborn-based payment service provider is to be permanently included in the Scopevisio portfolio, in order to create a fully integrated all-round solution comprising online shop, payment and enterprise resource planning.
- 05:00 am
Blue Prism (AIM: PRSM), a leader in Robotic Process Automation (RPA), and the Oracle Financial Services Global Business Unit have announced a new integration to automate critical compliance tasks helping financial institutions in the investigation, resolution and reporting of financial crimes and suspicious activities.
As methods for illegal activities and the level of criminal sophistication has expanded, so has the need for faster and more efficient ways for bank investigators to research cases. Managing resources efficiently has become paramount so organisations can better handle increasing workloads escalating into the millions of transactions and cases, and simply hiring more investigators is no longer a sustainable model.
To address this growing market concern, Oracle’s Financial Services Financial Crimes and Compliance Management suite of applications is now being coupled with Blue Prism’s Digital Workforce. This partnership provides quick integration and access to intelligent automation capabilities through Blue Prism’s connected-RPA capabilities – giving financial institutions the ability to optimise and enhance financial crimes investigation workflows.
The integration of Oracle’s Enterprise Case Management (ECM) solution with Blue Prism’s Digital Workforce platform brings efficiency and accuracy directly into the investigation workflow – and increases the quality of investigation outcomes. Blue Prism enables Oracle’s financial crimes software to deliver more comprehensive research and analysis, faster, more accurately and at a lower cost. This partnership not only provides flexibility and configurability for case management tasks, but also accelerates a financial institution’s ability to execute investigation activities with speed and accuracy – and turn compliance into a competitive advantage.
“Industries are being challenged on every side. Profit concerns, disruptive competitors, employee retention are all reasons Blue Prism has been successfully deployed across a variety of industries,” said Jon Walden, CTO, Americas for Blue Prism. “Our connected-RPA capabilities provide a unified workforce of both humans and digital workers to ‘get stuff done’. We’ve enjoyed great success in financial services industry because of the detailed audit and resiliency built into our platform. Some industries focus more on transactions to improve profit, some allow entrepreneurs in their organisation to tackle new challenges, regardless, Blue Prism frees up human capital to do more work.”
