Published
- 03:00 am
TIBCO Software Inc., a global leader in integration, API management, and analytics, today announced the promotion of Steve Hurn to executive vice president, global sales. In this role, Hurn leads all regional sales, global pre-sales, high-velocity sales, and partner sales, continuing to report to TIBCO’s chief executive officer, Murray Rode.
“Steve has led TIBCO sales through a period of consistent growth as we transition to more subscription and cloud services,” said Murray Rode, chief executive officer, TIBCO. “He’s an integral member of the leadership team, and I’m confident he will continue to expand our customer base globally through our direct sales force and our growing partner network.”
Hurn joined TIBCO as head of EMEA sales in 2015, and was promoted to senior vice president, global sales in January 2017. Prior to joining TIBCO, Hurn held senior roles at SAP, Oracle, and served as CEO at various startups.
“We’re getting to a point in the technology world where innovation and movement to the cloud is necessary in order for businesses to stay relevant,” said Hurn. “I am honoured to be a part of a company that helps companies reach their full potential by arming them with enhanced integration and analytics tools to take their organisations to the next level. I look forward to working alongside the executive team as we continue to leverage our portfolio of TIBCO Connected Intelligence Cloud offerings.”
- 02:00 am
FIME’s Savvi test tool is the first to achieve EMVCo qualification for a Level 3 Card Simulator. Savvi, used to test the connection between payment terminals and network systems, already supported EMV® L3 testing in-line with the guidelines of individual payment systems. This latest qualification accommodates the most recent efforts of EMVCo to align, streamline and standardize this testing process across multiple payment brands.
EMVCo’s L3 testing processes aim to combine the technical achievements of each payment scheme’s specific testing requirements and simplify the complexities acquirers face in achieving terminal integration certification across all brands. The standard for the L3 Card Simulator tool component is the first milestone of this project. As the first test tool to receive this qualification, Savvi is enabling acquirers globally to benefit from automated testing and enhanced operational efficiency.
“Savvi gives the acquiring community a single, simple and automated testing solution. As specifications evolve so do our tools, so that our customers are always right up to date,” comments Raphaël Guilley, Vice President at FIME. “This world-first qualification is a testament to this commitment. This new EMVCo Level 3 test tool process simplifies each payment brand certification process, speeding up test projects and minimizing unwanted delays during formal certification.”
FIME is an industry-recognized EMV implementation partner. In addition to the Savvi Test Platform, FIME’s experts offer a complete project test service, technical consulting for payment system requirements and terminal-integration training for developers and testers.
- 09:00 am
At Integrated Systems Europe 2018, Shure will feature products that include Shure Network Audio Encryption to protect networked audio connections between Shure products against security breaches. The technology safeguards confidential content without compromising audio quality. Shure Network Audio Encryption is based on the AES-256 algorithm that has been widely adopted by leading financial institutions, government agencies, and health care providers that are concerned with data security. Until now, however, such robust security was not available to protect networked audio signals.
“Confidentiality is a concern for all types of organisations,” said Chad Wiggins, Senior Category Director, Networked Systems Products at Shure. “As audio moves onto the network, it is important to control who has access to it.”
Shure Network Audio Encryption uses a user-configured pass phrase on each Shure device. Only Shure devices with the correct pass phrase will permit audio to be heard. With Shure Network Audio Encryption enabled, Dante audio is encrypted before being sent over the network. When it is received by another Shure device that supports this feature, it is decrypted and forwarded for IntelliMix® processing or analog conversion.
“This is a valuable tool in the IT manager’s security toolbox,” continued Wiggins. “While no network is completely secure, Shure Network Audio Encryption can be combined with other network security measures like device access control and network partitioning to create a multi-layered security solution.”
Shure Network Audio Encryption will be available with Microflex® Advance ceiling and table array microphones, the P300 Audio Conferencing Processor, and selected Audio Network Interfaces in early 2018. Microflex® Wireless will be supported later in 2018. The feature can be added to these products already installed in the field through a firmware upgrade.
- 04:00 am
Leading digital money transfer service, WorldRemit, and Cambodia’s largest mobile banking services provider, Wing Cambodia Limited Specialised Bank, have launched instant money transfers to Cambodia.
Recipients can receive money in either US dollars or Cambodian riel. Funds are deposited directly into Wing accounts or collected at over 5,000 Wing Cash Xpress locations across the country.
International money transfers are simple using WorldRemit’s convenient, digital-first model. Funds can be sent from the WorldRemit phone app or website, without spending time and money visiting a brick and mortar agent.
Mobile banking services are increasingly popular across South Asia, and in 2016 the industry trade body GSMA, reported that the region accounted for 40 per cent of all new registered accounts. This is being driven by services, such as Wing’s, which enables Cambodians to send and receive money using a mobile phone.
Cambodia’s million strong diaspora plays a crucial role in the country’s economy. The World Bank reported that in 2015 Cambodia received over $400 million in remittances.
Ismail Ahmed, founder and CEO at WorldRemit, commented: “This partnership will allow the hard-working Cambodian diaspora to send money back home to family and friends in the most convenient way possible.”
“We are delighted to be partnering with a company that has pioneered mobile banking services in Cambodia, and ensured that millions of Cambodians across the country can access financial services at the touch of a button.”
“Wing is pleased to be partnering with WorldRemit to bring a new level of convenience to Cambodians living abroad” said Jojo Malolos, CEO of Wing. “This partnership brings international money transfer to the next level — sending money anywhere in Cambodia from Cambodians anywhere in the world online. We are bridging the gap and making it much easier for our customers abroad to send their money home to their loved ones, who can collect instantly through a Wing Account or cash out at any of our 5,000 Wing Cash Xpress agents nationwide.”
- 06:00 am
Equiniti, the UK’s leading outsource provider of both specialist resource and award-winning technology for case management and remediation, is pleased to announce the launch of its new Complaints & Remediation Lifecycle Management Solution.
Sue Bartlett, Managing Director of Hazell Carr, and Scott Shields, Managing Director of Equiniti Charter, are to lead the new proposition, supplying digitally integrated, end-to-end complaint handling solutions. The solution combines Equiniti’s award-winning Charter complaints technology business with the expertise within its Hazell Carr resourcing business.
Equiniti’s Complaints & Remediation Lifecycle Management delivers innovative solutions that will future- proof companies by offering a complete end-to-end complaints management and remediation process that integrates proprietary technologies and specialist personnel with FCA compliant processes.
This combination of automation and expertise has seen:
Improved case resolution time by 75% through intelligent processes and automation
A 60% reduction in support costs through automation and intelligent deployment of resources
Reducing processing times of 40% through letter automation
A saving of £14 million for a large retail bank using the remediation solution
Reduced handling time by 85% through automating remediation processes
The core end-to-end solutions that Equiniti provides are as follows; customer contact, complaint management, customer response, payment processing, MI & data management, and RCA & Improvement.
Commenting on the launch of our new Complaints & Remediation Lifecycle Management solution, Sue Bartlett and Scott Shields said:
“We are delighted to be able to offer this unique combination of people and technology to help our clients improve customer experience, protect their business and reputation. This solution offers the scale, flexibility and adaptability required to respond to any remediation and customer programme. This integrate, high-tech approach will help our clients respond quickly and in a cost-effective manner.
“We have created a best in class and cost-effective solution which our referenceable early adopter clients have seen is suitable for one-off remediations and on-going complaints management in full, or peak load scenarios across a variety of regulated sectors.”
- 06:00 am
Flux, reinventor of the receipt for the 21st Century, today becomes the first partner to integrate digitised loyalty rewards directly into Starling Bank’s mobile app. This integration marks the second stage in a successful partnership between Flux and Starling which last September unveiled real-time digital itemised receipts for customers of the UK’s leading challenger bank.
The latest Flux service will instantly display loyalty stamps in the Starling app when a customer pays with their Starling card at any of Flux’s retail partners, which include all EAT. stores where Flux customers have exclusive use of a unique loyalty stamp programme which rewards the cost of a fifth coffee. Flux will be announcing a series of partnerships with top tier retailers in 2018.
According to Deloitte, 41% of UK consumers use brand loyalty schemes, with one in four shoppers doing so once a week or more. Despite the rewards on offer, an estimated 10.3 million people possess unused loyalty points which total more than £4.5 billion.
Flux will send loyalty rewards automatically to customers’ Starling accounts when applicable. From today, loyalty stamps will appear on the real-time digital itemised receipts that Flux users receive in the Starling app.
Flux instantly delivers receipts, including item data and VAT, plus applicable loyalty reward stamps from retailers to customers through the mobile apps of partner banks. Customers who have added Flux directly from the Starling Marketplace can pay as normal for items that fall within the loyalty scheme. Once the customer has earnt their free item, Flux will send them automatic cashback straight to their Starling account on behalf of the Flux retailer. Customers will never have to remember to bring or show a loyalty card again.
CEO and Founder of Flux, Matty Cusden-Ross said: “We are very excited to announce the launch of our Flux loyalty integration within the Starling Marketplace. Our partnership with Starling Bank reflects the cutting-edge approach both Flux and Starling are taking to reinvent receipts and loyalty for the 21st Century.”
Launched in April 2017, Flux has a UK patent pending algorithm that links purchases to bank cards via software integrated in the retailer’s point of sale system without interfering in payment processing. The technology makes the purchase more useful to the customer, eliminates the use of paper and reduces time spent at checkout.
- 07:00 am
FICO today announced Harry-Brot, Germany’s largest producer of baked goods, has won a FICO Decisions Award for its use of advanced optimisation technology to reduce costs.
Harry-Brot produces roughly 1,000 varieties of baked goods that are distributed to 9,300 German stores. The baker runs 73 different production lines across nine sites; each production line is restricted to a specific set of products, speed of production, and capacity.
“We wanted to find the optimal assignment of products to different production lines; we were eager to see, if we changed the status quo, how much cost savings we could uncover and still meet our customer’s demands,” said Matthias Säger, Project Manager Logistics Systems, Harry-Brot. “With FICO’s powerful optimisation, we were amazed at what we found and how quickly we were able to go from insight to action. We could analyse a large set of variables, modify constraints and explore trade-offs in order to identify the optimal strategy for baking production and distribution. The scenario output gave us tremendous insight into more profitable decisions and the impact of different combinations of factors.”
Using FICO® Xpress Optimization and working with Asolvo, a German firm specialising in optimisation services, the baker was able to dramatically improve the efficiency of its highly complex baking production and distribution operations.
With FICO Xpress Insight, Harry-Brot was able to apply high-performance solvers and algorithms, flexible modeling, comparative scenario analysis and visualisation to identify ideal assignments for production lines. This helped minimise costs and meet customer demand; in fact, Harry-Brot saw cost reductions of 3.57 percent and 1.81 percent for production and transportation costs, respectively. Overall costs were reduced by 3.4 percent, which meant that cost savings achieved in the first year significantly surpassed the company’s investment.
“Harry-Brot is a great example of the real power of optimisation; solving complex business problems by running comparative scenarios that show where you are today, and identifying the potential opportunities that exist in the future,” said Bill Waid, vice president for FICO Decision Management Suite.
“I’m very impressed with Harry-Brot’s application of optimisation to solve a highly complex sourcing problem,” said Douglas Gray, director of Enterprise Data & Analytics at Southwest Airlines, which won a 2016 FICO Decisions Award; Gray was a judge for this year’s awards. “Though baking is a very different business from airlines, their experience using FICO Xpress Optimization echoes our own, and like Southwest they have taken full advantage of the power and flexibility of a tool that can crunch astronomical amounts of data and weigh millions of alternate solutions to find the very best.”
FICO® Xpress Optimization is the world’s most advanced optimisation software, enabling businesses to quickly and easily apply optimisation techniques to solve business problems, faster. FICO Xpress is part of the FICO Decision Management Suite, a platform for building and managing analytics-powered decision management applications.
About the FICO Decisions Awards
The FICO Decisions Awards recognize organizations that are achieving remarkable success using FICO solutions. A panel of independent judges with deep industry expertise evaluates nominations based upon measurable improvement in key metrics; demonstrated use of best practices; project scale, depth and breadth; and innovative uses of technology. The 2017 judges are:
- Giorgi Alibegashvili, Strategic Project Manager, TBC Bank (2016 award winner
- Julie Conroy, Research Director, Aite Group
- Douglas Gray, Director, Enterprise Data & Analytics, Southwest Airlines (2016 winner)
- Joy Macknight, Transaction Banking and Technology Editor, The Banker
- Daniel Mayo, Chief Analyst, Financial Services Technology, Ovum
The winners of the FICO Decisions Awards will be spotlighted at FICO World 2018, the Decisions Conference, April 16-19 in Miami Beach, Florida.
Alex Larsen
President at Baldwin Global Risk Services Ltd
According to Reuters: “Japan’s financial regulator said on Friday it had ordered all cyrptocurrency exchanges to submit a report on their system risk management, following the hacking of over half see more
- 04:00 am
SimCorp, a leading provider of investment management solutions and services to the global financial services industry, today announced the new modules and enhancements introduced with Release 6.3 of its flagship solution, SimCorp Dimension. A key feature in the first of this year's bi-annual releases is a new Alternative Investments Manager, which enables buy-side firms to handle illiquid, alternative investment types, such as Private Equity, Real Estate and Infrastructure, alongside more traditional assets.
The Alternative Investments Manager offers the buy-side market an automated solution for its alternative investments, dispelling the need for niche systems and manual processes. Users can fully integrate the module with SimCorp Dimension's IBOR (Investment Book of Record) to effectively support multi-asset investment strategies in one highly automated system.
As part of SimCorp's strategic vision, the new Alternative Investments Manager provides the opportunity to further streamline processes across asset classes, as operational efficiency and cost reduction continue to dominate the global buy-side agenda. In a recent WBR InvestOps survey, 62% of the 100 North American buy-side firms questioned named alternatives and private debt as the most challenging and costly asset classes to support. The same survey found 80% of firms looking to system consolidation as their chief strategy for cost reduction in 2018.
The new Alternatives Investments Manager aims to better serve the growing number of 'limited partners' investing in alternatives. The module is a configurable 360° dashboard of invested assets, where users can view and edit all transactions, positions and securities. With 'slice and dice' analytics functionality, users can track performance based on a variety of criteria, enabling improved risk management and access to more granular data to make the most informed investment decisions.
Other highlights of SimCorp Dimension Release 6.3 are:
- Strategy Manager for Solvency II
The first of this year's two SimCorp Dimension releases also introduces the Strategy Manager. This is a new solution that provides enhanced functionality for compliance with Solvency II. Since its introduction, Solvency II has pressed firms to carry out more in-depth analysis of the various investment outcomes on their Solvency Capital Requirement and consider this analysis more actively in their investment decisions. By introducing the new 'what-if' functionality, the Strategy Manager solution enables users to simulate different strategies and actively manage Solvency Capital Requirements. This analysis is valuable to pension funds and insurers, for steering their strategy and investments and for deciding how to handle large market movements. The solution is equally valuable for asset managers with a wish to provide best-in-class services to asset owners.
- Collateral Management
Release 6.3 integrates front office and collateral management workflows, initially enabling portfolio managers to block positions from the collateral pledging process. Operational improvements include short checks on collateral pledges and recalls, usability enhancements in the recently released Margin Manager and dashboards, and extended instrument support.
- MiFID II
Release 6.3 completes SimCorp's delivery of functionality to support MiFID II compliance. Seamlessly integrated across front office and IBOR, the solution offers the workflows needed to establish automated T+1 Article 26 transaction reporting and real-time post-trade reporting via FIX. In addition, interfaces with trading venues have been updated to offer compliance with MiFID II's order record keeping requirements.
Commenting on the new SimCorp Dimension release, Marc Schröter, SVP of SimCorp Product Management said: "Many investment managers are starting to realize the need for integrated and automated IT platforms to reduce costs and operate more efficiently. The new Alternative Investments Manager is significant, because it enables the buy side to manage all asset classes in one unified solution, powered by an IBOR at the core of the investment system. By investing 20% of our annual revenue into R&D, we will continue innovating our offering, including alternatives, to provide the buy side with the forward-looking functionality they need."
- 07:00 am
ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, will showcase itsUP Real-Time Payments solution at the #TIPsapp Challenge Event at the European Central Bank in Frankfurt on February 6. As financial institutions across Europe are preparing for the launch of several domestic and pan-European schemes, ACI will feature its solution supporting connection to the central infrastructures across the region.
The first pan-European scheme, SEPA Instant Credit Transfer (SCTinst), was launched in November last year and another pan-European scheme, the TARGET Instant Payment Settlement (TIPS), is set to go live in 2018. In addition, several national schemes will be launched: Belgium, Slovenia, Spain, Portugal are all set to get their own national schemes, followed by France, Holland and Hungary in 2019.
ACI Worldwide is offering all financial institutions and PSPs a multi-scheme solution based on a standard European SEPA Inst gateway that can be quickly modified to suit the requirements of any domestic or pan-European instant scheme. ACI’s UP Real-Times Payments is also positioned to seamlessly integrate with the TIPS and other pan-EU real-time payments services.
Institutions can act now by using ACI’s solution for any local and pan-EU scheme, and securely transition to a new TIPS settlement account once TIPS goes live in November 2018. To simplify the move to real-time payments with a lower risk approach, ACI offers a pre-packaged cloud solution for the major pan-EU instant payments schemes. Advanced liquidity management services are built in to manage fragmented multi-scheme settlement accounts from day one.
Domenico Scaffidi, Principal Solution Consultant Immediate Payments, ACI Worldwide comments:
“This event will be a great opportunity for financial institutions and vendors alike to come together and discuss the opportunities and challenges of instant payments. With several schemes launching in Europe this year, financial institutions have a lot of decisions to make and their work cut out to be ready in time.
“A recent survey by ACI Worldwide shows that consumers globally increasingly expect new and innovative services from banking providers, including real-time payments. Our message is to ‘act now’ and reap the benefits of the ‘first mover advantage.’
“ACI offers payment service providers the opportunity to real time enable their payments platform now and add connectivity to any instant scheme as they become available. We not only provide our customers with a technical solution, but also payment processing functionality, guidance on compliance, fraud, scheme rules, testing and certification, as well as support throughout the complex on-boarding process. Highly available real time solutions is what ACI does, helping our clients evolve from batch based payments to 24*7*365 real time payments.”
