Brazilians will now be able to pay for Spotify Premium with their debit card

Spotify has just released a new payment method for its users in Brazil. Now, Brazilians will be able to pay for Spotify Premium by using their debit card. The solution for Spotify to accept this payment option was developed by Worldline, the European leader in the payments and transactional services industry that offers different payment solutions worldwide and EBANX, a global fintech company based in Brazil that offers Brazilian and other Latin American local payment methods to global merchants.

Worldline is already a global payments partner for Spotify in more than 50 countries and enabled the feature in its global platform so that Spotify could process the debit transactions locally in Brazil. EBANX crafted the API and integrated it with the partner issuing banks in Brazil. At the time of the launch of this new payment option, debit card payments on Spotify's website will be available for clients of a selected group of banks in Brazil, but the three companies are working together to expand the integration to additional partner banks as well.

The debit card option will allow Spotify to reach new users in the country. For instance, people who do not have a credit card or do not want to compromise their credit card limit. When choosing to pay for Spotify's subscription with their debit card, customers will fill in their card's number, following the same process of a credit card transaction. No need for authentication numbers or PIN, which creates a much more frictionless user experience. Once the transaction is approved, the charge will appear directly on the customers’ bank account. The payment information will be stored and the charge will be automatically made every month.

Event: iBLOCKCHAIN SUMMIT 2018

Date: November 2-3, 2018

Venue: Guangzhou Baiyun International Convention Center, Guangzhou China

The last iBlockchain Summit held on May 18-19 at Shenzhen received great feedback from both our sponsors and audiences. This time, iBlockchain Summit is coming to Guangzhou, one of the biggest cities in China. The event will take place on November 2-3 in Guangzhou Baiyun International Convention Center.

Blockchain technology is already disrupting dozens of industries like banking, real estate, health care, education etc. Will your job be safe? What changes is your personal life and career facing? This might sound a little bit irrelevant to you now, but it will be, in a quite near future. Providing the unique political economic environment in China, the Chinese government is also studying this revolutionized technology in order to catch up with the western pace. This market is presenting an unmatched opportunity to all those tech giants as well as start-up firms, to deeper discover the market, to apply cutting-edge technologies to all walks of life, or to eventually leave a name behind in this era.

iBlockchain Summit in Guangzhou is expecting over 4,000 visitors along with exhibiting, keynote & panel sessions, networking and alike activities. It’s a two-day event for fintech companies, blockchain experts, legal advisers, start-ups, currency exchanges, media and investors to share insights and get to know more promising projects.

If you are in this field, you cannot miss iBlockchain Summit. If you think it’s irrelevant to you, you don’t think so any more after you join us.

If you are interested in more details of sponsoring or speaking at iBS, welcome to contact us at info@iblockchainsummit.com

Contact details:

Tel: +86 21 3126 1015

Email: info@iblockchainsummit.com

Website: www.iblockchainsummit.com

VAKT are pioneering the development of an industry-wide post-trade processing platform for commodities through blockchain, today announces that it has joined the Enterprise Ethereum Alliance (EEA), the world's largest open source blockchain initiative.

VAKT is a new company formed by a consortium of nine energy majors, independent traders and banks. It is digitising the global commodities industry by creating a trusted digital platform for post-trading services, accessible to all parties involved and powered by blockchain technologies.

This platform will produce new trade finance opportunities, enhance efficiency and reduce costs through the elimination of duplicate data sets and paper contracts. It will also decrease risk by providing enhanced clarity over product movements and ownership.

The EEA membership base represents 500 leading companies spanning a wide variety of business sectors from every region of the world, including technology, banking, government, healthcare, energy, pharmaceuticals, marketing, and insurance. The EEA’s industry-focused, member-driven working groups are each tasked with creating and delivering specific advancements to the development and use of ethereum-based technologies.

The VAKT platform is underpinned by Quorum.  As a member of the EEA, VAKT will collaborate with industry leaders in pursuit of ethereum-based enterprise technology best practices, open standards, and open-source reference architectures.

Adam Vile, Chief Technology Officer of VAKT commented: “We are delighted to be joining the EEA and be part of the realisation of the Enterprise Ethereum standard. VAKT is breaking new ground in developing,  and plans to be one of the first companies to deliver in to production, an enterprise grade post trade platform with Quorum and hence Ethereum at its core. Close connection to the EEA,  and the ability to contribute to and benefit from the rapid evolution of the platform will be key to our success”. 

 Managed platform to provide access to DLT-based services for financial processes on a single, secured network

Barclays and Citi among the nine financial institutions participating in the initiative

CLS, a market infrastructure group delivering settlement, processing, and data solutions, and IBM (NYSE: IBM) today announced a collaboration on a proof of concept (PoC) for LedgerConnect − a distributed ledger technology (DLT) platform for the financial services industry designed to enable banks, buy and sell side firms, FinTechs and software vendors to deploy, share and consume services hosted on a shared distributed ledger network.

On LedgerConnect financial institutions will be able to access services in areas such as, but not limited to, know your customer processes, sanctions screening, collateral management, derivatives post-trade processing and reconciliation and market data. By hosting these services on a single, enterprise-grade network, organizations can focus on business objectives rather than application development, enabling them to realize operational efficiencies and cost savings across asset classes.

Nine financial institutions, including Barclays and Citi, are participating in the PoC and have selected services from a number of vendors including Baton Systems, Calypso, Copp Clark, IBM, MPhasis, OpenRisk, SynSwap and Persistent Systems to participate in the PoC.

As financial institutions increasingly work to implement DLT into their operations, capital markets remain saturated with multiple systems performing the same business functions and with siloed pockets of data that require expensive reconciliation processes. DLT can help reduce these inefficiencies and improve the speed of doing business by providing a single, shared version of events and one implementation of common business functions.

However, it can be cost prohibitive and time-consuming for each vendor, bank, or consortium to create and operate its own unique DLT infrastructure for multiple services when proven technology already exists. LedgerConnect aims to solve this problem by providing a single shared and highly secured network on which multiple services can be deployed and consumed. This allows financial institutions to focus on transforming business processes rather than creating multiple new blockchain applications, networks and services in silos that could lead to increased interoperability costs and complexity.

Operating on a private permissioned network based on the IBM Blockchain Platform and Hyperledger Fabric technology, LedgerConnect will be designed for regulated and security-conscious enterprises and available across asset classes. Support for additional ledger technologies may be provided in the future, based on market demand and developments.

Commenting on LedgerConnect, Alan Marquard, Chief Strategy and Development Officer, CLS said, "LedgerConnect is part of CLS's strategy to explore how we can provide safe and robust solutions that create efficiencies and reduce risk for a diverse range of firms operating in the financial markets. We expect LedgerConnect to deliver enhanced efficiencies and economies of scale over single-purpose distributed ledger networks."

“Together IBM and CLS have been early pioneers in advancing blockchain solutions for the financial services space,” said Marie Wieck, general manager, IBM Blockchain. “Building on the success of CLSNet and leveraging the strong relationship CLS has with the world’s leading financial institutions, LedgerConnect is uniquely positioned as a blockchain marketplace for the financial services industry, which will accelerate innovation across the ecosystem with value added services for blockchain networks.”

On completion of a successful PoC, generation of market demand, and receipt of all necessary regulatory approvals, CLS and IBM plan to make the platform widely available to the industry.

As UK banks continue to report their interim results, the forecast remains positive for banking giants Royal Bank of Scotland (RBS) and Lloyds Banking Group. While the outlook is rosy, traditional lenders still face fierce competition from digital challenger banks, with 61 percent of smartphone owners opting to bank solely online.[1]       

RBS is expected to outperform analyst predictions[2] and Lloyds’ strong financial performance is forecasted to continue[3]. Although confidence is high, traditional institutions remain under pressure to maintain market share in the increasingly digital climate. To do so, many are focusing on securing their long-term future by improving customer-centricity, regardless of the short-term impact on profit.[4]  

Many traditional banks are looking for novel ways to raise the standard of their customer services, with features such as chatbots and roboadvisors, says Bhupender Singh, CEO of Intelenet® Global Services.

Mr. Singh comments: “Despite 42 percent of people moving to alternative service providers for personal banking needs, over half are choosing to stick with their traditional bank, making these institutions a force to be reckoned with.[5]

“But this does not mean that traditional lenders should become complacent - in the age of the customer, it is crucial that banks can provide advice and support that is truly in the customers’ best interest. One way that banks are streamlining the customer experience, is by using chatbots and AI technology to carry out customer interactions.

Mr. Singh continues: “For instance, voice recognition software can be paired with customer records and predictive tools to identify a specific customer and confirm which department they require before sending them there directly, without the customer having to explain their problem multiple times. This dramatically improves the customer experience and, for one bank, has reduced the average handling time by 40 percent.

“But while technology is a key part of the solution, it is important to remember that it is simply that – a part of the puzzle. A human touch is still essential to solve many of the financial issues that people face. Much of the best automation and AI technologies in the banking sector takes away the burden of repetitive tasks for staff, allowing them to focus their efforts on quality in-person service.”         

I’m an avid Postmates and DoorDash user – while I do love great food, I’m often short on time and these delivery services ensure that a delicious meal is just a few taps away. It’s great to get what you want, when you want without having to give it a thought. But sometimes I do give it a thought – How does the delivery person who is sometimes buying and delivering food from a local bodega and at other times from a gourmet restaurant pay or get paid? Do they carry a wad of cash with them or do they have a corporate card? How do they even receive the tip I gave them?

Now Stripe is making it easy and uncomplicated for businesses to move money in the real world as easily as they do online by partnering with Mastercard. With the Stripe Issuing, Stripe businesses and platform running on Stripe will be able to quickly issue Mastercard-powered employee expense cards with dynamic spending limits or  generate one-time-use virtual cards with specific amounts that a delivery person can then use to pay with their phone.  Though the benefits to on-demand businesses are apparent, this service will enable all businesses of all types to empower their employees, partners and users in new ways.

HOW IT WORKS

• Easy to implement with just a few lines of code using Stripe Issuing APIs
• Physical cards can feature customizable designs, and ship in a few days. Cards can be used instantly through mobile wallets.
• Enables businesses to assign spending controls. Businesses can also implement approved merchant categories, spending controls, per-user bookkeeping, and other restrictions.
• Simple to automate operational tasks, such as handling disputes, replacing cards, and generating custom reports.

Mastercard and Stripe also partner to provide instant payouts to sellers on Stripe marketplaces using Mastercard Send. This helps people and businesses to send and receive funds quickly and securely.

We live in a time when we don’t have time for anything and there are companies that help people like me catch a breath while waiting for packages to be delivered. I know I owe my seamless retail existence to them and it’s exciting to see Mastercard supporting businesses that save me hours’ worth of every-day tasks.

FactSet, a global provider of integrated financial information, analytical applications, and industry-leading services, today announced that Helen Shan will join as Chief Financial Officer (CFO) in September, 2018. 

Shan has more than 25 years of experience in business and financial services, and has held key executive roles in finance, treasury, strategy, corporate development, and investment banking. She will join FactSet following her position at Marsh and McLennan Companies, where she was CFO for Mercer, one of the world’s leading professional services firms, providing advice and solutions that help organizations meet the needs of a changing workforce. During her time at Mercer, Shan was responsible for global financial reporting and performance, operational finance, investments, and corporate strategy, leading a team of finance professionals supporting clients in over 130 countries. 

Prior to Mercer, Shan has held the role of Vice President and Treasurer for both Marsh and McLennan Companies and Pitney Bowes Inc. and of Managing Director at J.P. Morgan. She earned Bachelor of Science degrees from the University of Pennsylvania’s Wharton School and School of Engineering and Applied Science, and a Master of Business Administration from Cornell University’s SC Johnson College of Business.

“We’re excited to welcome Helen as our new CFO,” said Phil Snow, Chief Executive Officer, FactSet. “Helen brings extensive financial, operational, and strategic experience to FactSet, which adds to the existing strength of our Finance organization.  Her skills and expertise position her well to partner with our business leaders as we evolve and build out new capabilities as an organization.”

• Product Reviews
• 27.07.2018 02:03 pm

What is the solution?

FactSet’s solution for investment managers is a unique set of tools that provide needed information to save time and make effective decisions quickly. Moreover, it allows understanding a portfolio’s true exposure to geopolitical risk, macroeconomic factors, and market conditions using FactSet GeoRev data, or uncover interconnected relationships within stock portfolio that may impact overall performance.

What is the demand for the solution?

Frequently, decision-making involves uncertainty, complexity, high-risk consequences, alternatives, and even interpersonal issues. Competitive environment, multi-tasking and time constrains  also require investment managers to react promptly. Thus, it is vital to have analytical tools that could provide correct information to minimize the risks. 

What is the core function of the solution?  

The key function of the solution is to provide instant and constant access to the news and data in order to increase alpha. It allows sorting out unnecessary information and quickly review relevant and real-time insights about companies and markets with FactSet Street Account. Moreover, you will always stay updated on market developments with top stories and summaries that will increase chances to make appropriate decision. 

What are the features of the solution?  

• Seamless integration of internal research and proprietary information

Investment managers can benefit from the solution by combining proprietary holdings, transactions, analyst research and ratings with FactSet content and industry-leading sources, including extensive benchmark data and global exchange indices. It enables integrating proprietary data with a secure, automated nightly upload or by connecting a custodian, prime broker, or a firm’s accounting system with FactSet. 

• Unique content for unique insights

FactSet’s global coverage and exclusive content enables furthering portfolio analysis. Now it is also possible to segment companies into categories according to primary focus. As well as, finding ownership data for equities and fixed income securities and monitor corporate activism with investor profiles detailing previous campaigns with FactSet’s corporate activism database. 

• Stay informed on the road

The FactSet’s mobile solution provides an opportunity to remain connected with every stage of a workflow, while being away from the desk. Users also can stay updated with industry news and global market movements, access company analytics and internal research, as well as monitor portfolio performance and risk in one place.

 Dionach, a leading global information security consultancy based in Oxford, UK, today announces that its cyber security services have been formally awarded STAR (Simulated Targeted Attack and Response) status by CREST, the accreditation and certification body for the UK’s information security industry.

The STAR accreditation provides clients in the financial services sector with greater assurance that their IT vulnerability assessments, cyber security tests and incident response services are being delivered to the highest possible technical and service standards. STAR-accredited providers have passed a rigorous assessment process that scrutinises every aspect of their service and verifies their ability to simulate cyber attacks based on the latest threats and techniques used by real-life criminals.  

Ewan McKenzie, CEO of Dionach says: “Becoming STAR-accredited is a significant milestone for our company and reinforces our position at the forefront of the cyber security industry. It’s important for our clients - especially those in the financial services sector – to know that our penetration testing and red teaming services have been independently assessed and meet the strict criteria defined by CREST.

“I’m immensely proud of our whole team. The accreditation recognises the quality of our processes, the technical competence of our 50 consultants and our commitment to ensuring clients’ security postures are as tight as they can be. It is our role to protect clients’ critical information assets and help them reduce exposure to commercial, regulatory and reputational risks – a role that is growing in importance every month.”

Dionach has been a pioneer in the information security industry for over 20 years, has over 200 current clients and holds other industry-leading certifications including PCI and ISO 27001. The company employs over 70 staff worldwide.