F-Secure is today announcing a sharpened strategy focused on meeting the cyber security needs of midmarket companies and on continuing to accelerate F-Secure’s strong growth. This includes the elevation of new roles to the company’s Leadership Team.  

“Our growth strategy is to provide best-in-class solutions for cyber threat prevention and detection needs combined with security advisory and risk management services to midmarket and selected industry verticals,” said Samu Konttinen, F-Secure CEO. “Our growth is currently outpacing the market, but we want to grow even faster. We aim for an organizational structure that will help us best execute our strategy. These changes will produce a simpler organizational structure to better serve the customers.”

F-Secure began its transformation from a traditional antivirus vendor into a full-fledged cyber security company in 2015. Since then it has acquired cyber security consulting companies, and expanded its product and services portfolio with detection and response capabilities. F-Secure continues its transition by focusing on serving midmarket companies via F-Secure’s growing network of channel partners. To accelerate its execution, F-Secure’s new organization will have its B2B security business moving from two business units in to a functional organization that elevates the key areas to the Leadership Team and removes organizational layers. Consumer cyber security will continue in a business unit of its own. The new structure will consist of Enterprise & Channel Sales led by Juha Kivikoski, Cyber Security Products & Services led by Jyrki Tulokas, Marketing & Communications led by Jyrki Rosenberg, Security Research & Technologies led by Mika Ståhlberg, Information & Business Services led by Jari Still, Strategy & Corporate Development (Samu Konttinen as acting lead), HR & Office Services led by Mari Heusala, Finance & Supporting Services led by Eriikka Söderström, and Consumer Cyber Security Business Unit led by Kristian Järnefelt. 

Juha Kivikoski will join F-Secure on March 1, 2018. Juha is an industry veteran having previously served as Managing Director at Dusting Finland, Vice President Sales at McAfee/Intel Security, COO at Stonesoft, and has held several senior leadership positions at huge technology companies including Siemens and Cisco Systems.

“In a complex market where change is the only constant, our experience and knowhow give us credibility,” said Konttinen. “Our competitiveness is based on our 30 years of experience, as well as our unique combination of man and machine, and the latest in artificial intelligence and big data analytics, not to mention having the best cyber security experts in the field. We’re looking forward to growing with a stronger focus, and stronger effort in 2018 and beyond.”

Traydstream – has announced the executive appointment of Jayan Menon as Country Head for India. Traydstream’s recently incorporated India entity (Traydstream Pvt Limited)  is a fully-owned subsidiary of the UK company, designed to knit together Traydstream’s capabilities across Technology, Trade and Client Servicing, creating a new breed of organisation that marries Trade and Technology professionals.

Menon will lead the build out of a team of top Trade Specialists who will advise on further expansion to the state of the art technology platform. Menon will work closely with the firm’s vendors in India and Ukraine to ensure consistent global client delivery as the firm begins to on-board new clients.

Traydstream’s Mumbai hub will act as the company’s first global servicing hub and will work closely with central business in delivering the global pilots and mandates that Traydstream secures. As head of the hub, Menon will have both business and administrative responsibilities that span across the operational spectrum. He will be a Director of the Indian operation and will form part of the wider management of Traydstream.

Menon is a commerce graduate and a Chartered Accountant. He has over 25 years’ experience in the banking industry, particularly in Trade Services and Treasury. He has worked with ICICI Bank, the largest private sector bank in India, as well as YES Bank. His last assignment was with TATA Consultancy Services where he headed the Trade Operations of a large global bank. He was also CEO of the Fixed Income Money Market and Derivative Association of India, and is associated with the Trade Services Advisory Group of SWIFT, Foreign Exchange Dealers' Association of India and the Indian Banks' Association.

Commenting on his appointment and the wider Trade environment, Menon gave this statement: “Banking as an industry is undergoing a huge transformation, further accelerated by the competition from Fintech companies and with newer technologies like Blockchain, Artificial Intelligence and Robotics. Trade Services is an area that continues to remain largely document intensive thereby increasing the cost to banks and the prices to customers. Traydstream is in the process of transforming Trade Services through, inter alia, digitisation, machine learning and developments in Blockchain. The application of the functional knowledge in trade to transform the trade services in banks with the latest technology applications is what excited me to join this fantastic team.”

Co-Founder and Chief Sales Officer at Traydstream, Achille D’Antoni has said of the appointment: “We are delighted to have Jayan on board. His appointment represents one more addition to a team of highly talented people that has joined Traydstream and that we have been targeting for a while. Our goal is to keep attracting first class professionals who relish the challenges of product innovation as well as effectively managing global client delivery in a new innovative environment.”

Ethoca, along with partners Capital One UK and TSYS, announced today that it has been highly commended for Best Industry Innovation of the Year at The Card & Payments Awards held in London, UK.

With rising ecommerce fraud, financial institutions today are increasingly focused on fraud mitigation, the customer experience and their cost/ability to recover losses. Early in 2016, Ethoca and TSYS collaborated to launch the Transaction Recovery Network (powered by Ethoca). This gave Capital One UK, as well as other card issuing banks, a completely automated way to stop and recover card-not-present (CNP) fraud losses through a simple and highly effective integration. As a result, participating merchants on the Ethoca Network were able to stop and refund/avoid settlement on 394% more fraudulent transactions on a monthly basis (compared to the previous manual file process). Meanwhile, Capital One UK ensured the best possible experience for its cardholders and eliminated unnecessary operating expenses while also making the most of its existing IT investments.

Speaking on the commendation, Keith Briscoe, Ethoca’s Chief Marketing Officer, commented: “We’re thrilled to be acknowledged for our work with TSYS and Capital One UK to reduce fraud and improve the customer experience. We’re pleased the judges recognised the power of the TSYS Transaction Recovery Network (powered by Ethoca), which provides near real-time notification of confirmed fraud that empowers issuers like Capital One UK, as well as merchants, to quickly recover lost revenue and eliminate the need for expensive and time-consuming chargeback processes.”

“With the continued growth of online commerce, it takes a constant effort to develop new, and innovative ways to combat the corresponding increase in fraud,” says Karim Ahmad, EVP Global Product and Innovation for TSYS. “The TSYS Transaction Recovery Network powered by Ethoca was developed as a collaborative, efficient solution that reduces online fraud and the operational expenses associated with chargebacks. This recognition by The Card & Payments Awards is a testament to the value we have been able to create in this area though our partnership with Capital One UK and Ethoca.”

“Capital One is delighted to be highly commended in the Industry Innovation of the Year category in partnership with Ethoca and TSYS,” says Rob Harding, Managing Vice President, Capital One (Europe). “The team have worked together to automate notifications of fraudulent purchases in real-time to retailers so that orders can be quickly cancelled, reducing fraud throughout the payments ecosystem.”

The annual Card & Payments Awards, which took place on Thursday, 1^st February at the Grosvenor House Hotel in London’s Park Lane, recognise excellence and innovation in the UK and Irish card and payments industries. 

This commendation recognises the performance of the TSYS Transaction Recovery Network (powered by Ethoca) and Ethoca Alerts – a faster, more cost-effective and customer friendly alternative to the chargeback process. It provides an early warning on fraud and disputes that have already been confirmed between cardholders and their issuing bank, giving merchants the opportunity to stop fraud, halt the delivery of goods and services, and refund cardholders to avoid impending chargebacks. Card issuers who use the service benefit by avoiding chargeback processing costs and recovering fraud losses – including 3D Secure and low-value transaction write-offs – much more quickly and inexpensively than ever before.

For two days this March, YPO, the global leadership organization for chief executives, will host 2,000 business leaders and innovators from more than 130 countries at the YPO EDGE in Singapore.

Each year, YPO EDGE, the largest gathering of CEOs from around the world, brings together thought leaders, creators and visionaries who are providing new perspectives insights, ideas, technologies and innovations.

The guiding theme of the 2018 EDGE in Singapore is Defy Convention, and the agenda is designed to spark idea exchange and redefine the rules in the entrepreneurial spirit of innovation. The EDGE will explore advances in technology, medicine, health, transportation, machine learning, cybersecurity and more, featuring speakers and resources in business, entertainment, technology, health, philanthropy, science and more.

"Singapore is an ideal host city for the YPO EDGE, as the global gateway to the worlds of business, technology and culture," said Scott Mordell, CEO of YPO. "YPO is thrilled to host its landmark annual event in Singapore, creating opportunities for business leaders to become better leaders and make a significant impact."

More than 40 internationally renowned speakers will be sharing their inspirational stories and transformational innovations including:

• Lee Hsien Loong, Prime Minister of Singapore
• HM Queen Rania Al Abdullah, Queen Consort Hashemite Kingdom of Jordan
• Billie Jean King, American former World No. 1 professional tennis player
• Orit Gadiesh, Chairman, Bain and Company
• Yossi Ghinsberg, Adventurer, Author, Entrepreneur and Humanitarian
• Amin Toufani, Faculty at Singularity University and CEO of T Labs

Speakers at previous YPO EDGE events include Canadian Prime Minister Justin Trudeau; Sir Richard Branson, founder and chairman of the Virgin Group; Muhtar Kent, chairman and CEO of the Coca-Cola Company; Aung San Suu Kyi, Nobel Peace Prize laureate and general secretary of the National League for Democracy; and Archbishop Desmond Mpilo Tutu, Nobel Peace Prize laureate.

"At the 2018 YPO EDGE in Singapore, YPO business leaders will defy convention and leave with new perspectives, ideas and insights that will empower them to positively impact their businesses, their communities and their lives," said YPO EDGE Chair N.K, Tong.

On March 28, Tel Aviv will host Blockchain & Bitcoin Israel, a large-scale event dedicated to cryptocurrency, blockchain and ICO. The conferences will be attended by the world's leading experts in the field of digital technologies. Speakers of the event are blockchain entrepreneurs and crypto experts from different countries, including Ukraine, Malta, Israel, Germany, Hong Kong.

The key speakers include:

Kambiz Djafari, Germany (CEO and Co-founder at Edgecoin.io). One of the first investors in bitcoin, who has studied blockchain technology for many years. He used the acquired knowledge to create the educational platform Edgecoin, the main goal of which is to fundamentally change the traditional academic system. Kambiz Djafari will focus on one of the methods of cryptocurrency protection: Proof-of-Stake. He will tell about its advantages compared to Proof-of-Work method, and answer, why 2018 will become the year of PoS projects.

Moises Cohen, Israel (Co-Founder and Board Director, The Floor). He has worked in leading global corporations in the field of complex business and IT transformations for over 13 years. At the conference, the expert will talk about banking innovations since the Middle Ages and up to the era of blockchain.
 

Marc Kenigsberg (Founder of BitcoinChaser). Marc Kenigsberg operates various Bitcoin websites and projects and is a well-known ICO adviser. He has 15 years of experience in online marketing. He took part in different events, such as the London Affiliate Show, Ice Totally Gaming, the World Gaming Summit, Bitcoin and Blockchain conferences in Kyiv and Cyprus etc. Will discuss the problem of attraction users to the system during his presentation at Blockchain & Bitcoin conference Israel.
 

Ami Turgman, Israel (Principal Software Engineer, Microsoft). He joined Microsoft 10 years ago as a software engineer. Since then, he has held different positions in product groups that have developed innovative mobile and web applications. The speaker will focus on the basic protocol of Bitcoin, tell how miners help to solve the main problems of a distributed network.

Ronen Siman Tov, Israel (CTO of Alpha Zone Accelerator at IBM, Certified Thought Leader IT Architect, IBM). Ronen joined the IBM team in 2011 as chief architect. Over the past two years, he was in charge of the Center for Innovation of the Corporation. Ronen also advises Israeli developers, startups and high-tech companies on behalf of IBM. At the conference, the speaker will focus on the prospects of blockchain solutions, how they can help to improve business processes, as well as present the blockchain platforms developed by IBM.

Learn more about the program and register on the official website of Blockchain & Bitcoin Conference Israel

Equifax, the consumer and business insights expert, has launched a new solution to support the government Commercial Credit Data Sharing (CCDS) initiative seeking to stimulate competition and encourage new entrants in SME lending, thereby addressing the shortfall in access to finance. 

The new Equifax solution gives lenders a comprehensive picture of a businesses’ financial health to facilitate faster and more informed lending decisions. As a government designated credit reference agency under the data sharing scheme, Equifax has access to new data sets from leading business banks, including a view of cash flow activity, debit and credit turnover, and minimum and maximum average balances. The data will be provided to lenders through Equifax Business Insights, which blends commercial and consumer insights for the commercial lending and credit market to optimise underwriting, lending and validation processes. 

CCDS covers any company with a turnover of up to £25m - 99.9% of the entire UK business population. The additional data will be a particular benefit to SMEs who only occasionally apply for finance. With a clearer view on whether businesses can afford repayments, banks and non-bank lenders will be able to offer SMEs more competitive loans.

The new solution also enables lenders to monitor a customer’s financial status, alerting them early to any potential problems with repayments, and identifying the most suitable course of action. This facilitates the requirements of the new lending standards to better support SMEs in times of financial stress. 

Nic Beishon, Head of Commercial at Equifax, says: “We’re excited to be supporting this government scheme to boost lending in the SME sector, essential to the health of the UK economy. CCDS is a game changer for many businesses who have the financial ability to repay a loan but who are currently either denied it or left in limbo when a lack of information leaves banks unable to make a timely decision. The new data overcomes this issue by providing an in-depth view of a business’ financial activity than has ever been accessible before.

“Combined with other industry initiatives, such as Open Banking and the Payments Services Directive 2, CCDS forms the foundation to restructure the SME lending market and help the sector grow. We will be using the data in a variety of ways to create new products for the market, helping lenders better evaluate loan applications. Whether a business needs finance to expand, invest in new technology or open a new office, they will now be able to get faster decisions to help make their plans a reality.”
 

Intrapay today introduced its purpose-built payment platform to the global payments sector, backed by a management team comprising some of the leading figures in the industry.

Led by CEO, Koen Vanpraet, formerly of Credorax and GlobalCollect/Ingenico, the company has a fresh approach to providing better payment services and solutions. At a time when consumers are accustomed to greater choice at the checkout, merchant growth will be driven by meeting the genuine payment needs of customers, whether it’s a new way to pay, payment processing and security, or a white-labelled service to grow engagement and loyalty.

“The era of “one-size-fits-no-one” payments is coming to an end,” explained Koen, “and the future of payments is going to be defined by customers. Thanks to internationalisation, proliferating device use and newer payment methods, consumers are already becoming more influential, ‘voting with their feet’ by picking their payments preference at the checkout.

“We’re devoted to building a company fit for this future: one where experienced, dedicated people work together in close harmony to develop innovative value-added payments that match the needs of businesses with the needs of customers.”

Intrapay invites merchants, partners and consumers to tell it what ‘better’ is; developing products that are tailored to the requirements of the end user. One example is Intrapay Direct, a white-labelled solution that enables direct bank transfer payments, enabling customers to complete orders using their online banking details and security checks. The interface is integrated into a merchant’s web site, while transactions are confirmed in real time. Merchants can incentivise the use of their own payment mechanism and as rates are lower than traditional payment methods, it increases revenue.

Richard Beaton, payment consultant and formerly of Hewlett-Packard, now Chief Product and Innovation Officer at Intrapay, added, “Too many technology companies make the mistake of creating technology without understanding how it is deployed and ultimately used. In an era of financial deregulation and ubiquitous internet, it’s time for the consumer and customer to drive the product and not the other way round.  The difference with Intrapay is that we listen, we’ve built adaptive technology, and we have no legacy.”

A Cognizant report focussed on why financial service organizations in the Asia Pacific region see blockchain as a game-changing technology

Innovation in and around blockchain is currently concentrated in the U.S. and Europe but application of this new technology is quickly spreading over the Asia Pacific region.

Download this Cognizant report today to see how Asia is poised to become a hotbed for blockchain innovation and why financial service organizations in the region see it as a game-changing technology:

https://goo.gl/rnMTy8 

Findings within the report highlight that: 
- 88% said they view blockchain as important or critical to the future of their industry
- 75% have adopted a prototype approach to blockchain and are piloting initiatives
- 66% have commitments from top management to explore blockchain
- 53% believe that blockchain will help create new business opportunities

The world’s only cloud-based SaaS core banking provider Ohpen has successfully closed a €25 million Series C investment round, with private equity firm Amerborgh. Ohpen will use these funds to further fuel growth and expand into a third country, where it will enable financial services companies to digitalise their services and migrate their customer accounts into the cloud.

Ohpen will utilise this investment round to build a team in the third market and further develop the platform with country specific requirements. The company is reviewing potential countries for its third base and found five promising candidates: Germany, France, Canada, Australia and the United States of America. Ohpen will announce its final decision in the first half of 2018.

“We’re just scratching the surface,” says Ohpen Founder and CEO Chris Zadeh. “Ohpen is changing the core banking software industry, advocating a totally digital solution that is based on one version of the platform for all clients and countries. This has never been done before: it requires creativity, commitment and also the necessary capital to implement our vision.”
 
Multiple investors worldwide competed to join this investment round. It was Amerborgh’s approach to supporting entrepreneurs and encouraging them to freely implement their vision that was the deciding factor for Ohpen, aligning with the Ohpen team’s preferred way of working.

Michel Vrolijk, Managing Director Amerborgh Nederland: “Our private equity firm primarily looks at execution power of entrepreneurs because we get thousands of requests from people with great ideas. The execution power of the Ohpen team is unparalleled. Since the start of its journey in 2008, Ohpen has pioneered setting up worldwide hubs that banks can just plug into. This is the future of the core banking industry. Launching the third country is crucial for Ohpen’s strategy and Amerborgh is thrilled to support them at this decisive point in their growth story.”

The new round of capital follows a year of significant growth. In 2017 Ohpen more than doubled in staff and revenue, announcing a large scale cooperation with both Aegon Bank and de Volksbank. In July 2017, Ohpen confirmed a previous investment round of €15 million to support its expansion to the United Kingdom, where the company is implementing its first overseas client. The Series C investment brings the total investment in the past six months to €40 million for the Ohpen team.