Published
Ivy Schmerken
Editorial Director at FlexTrade
Alternative data providers see huge potential in providing their data to discretionary asset managers who are losing assets to quantitative and systematic funds. see more
- 04:00 am
Gemalto (Euronext NL0000400653), the world leader in digital security, was selected by KNET, Kuwait's national Shared Electronic Banking Service Company, and jointly owned by 11 Kuwait's banking institutions, to supply its Confirm Authentication Server. Gemalto's solution generates One-Time-Passwords for online authentication, enabling millions of safe eTransactions in the country via the KNET e-payment gateway and delivering a step change in fraud protection. The secure platform is highly customizable and it can support a wide range of authentication and signing methods. Starting with SMS OTP, it will ultimately enable banks to expand towards Gemalto Mobile Protector and Secure Messenger solutions.
KNET, benefits from an off-the-shelf solution to further enhance the security of the country's fast-growing online transactions and dramatic expansion of eCommerce. In 2016 alone, KNET processed more than 25 million online transactions, worth approximately $1.6 billion and representing an annual growth rate of 35%.
KNET ePayment gateway also serves the country's government entities, for the payment of fees and bills related to over 60 governmental electronic payment services. These include electricity, water, traffic penalties, Ministry of Finance subscriptions, Ministry of Communications' bills and other government services. Gemalto's authentication server now provides a robust platform for this on-going digital transformation, and secure it against the increasing threat posed by online fraud attacks.
"With eCommerce and eGovernment services booming in Kuwait, providers and end users alike needed stronger protection," said Abdulla Al-Ajmi, CEO for KNET. "Gemalto's solution is backed by unrivaled expertise, and offers the scalability and flexibility necessary to meet our present and future demands, while offering a secure and consistent user-experience across various types of online channels."
"The field proven* Gemalto Authentication server is an ideal match for KNET's layered security strategy, and creates a seamless path to move in a second phase to mobile-based dynamic password generation," said Eric Claudel, Senior Vice President Banking Solutions for the CISMEA region at Gemalto. "Kuwait is pioneering the transition to a digital economy and the solution establishes both a foundation and springboard for its next generation of online services."
* More than 100 financial services institutions use Gemalto Authentication servers, enabling over 100 million end users around the world to perform secure eTransactions.
- 08:00 am
Pegasystems Inc. (NASDAQ: PEGA), the software company empowering customer engagement at the world’s leading enterprises, today announced an initiative to raise funds for Stand Up To Cancer (SU2C), a program of the Entertainment Industry Foundation, a 501(c)(3) charitable organization, dedicated to accelerating the pace of groundbreaking cancer research to get new therapies and treatments to patients quickly and save lives now. Together with music icon and cancer survivor Sheryl Crow, Pega will kick off a fundraising drive at PegaWorld 2017, Pega’s annual conference from June 4-7 in Las Vegas. Ms. Crow, a dedicated cancer research advocate, will perform at PegaWorld on Monday, June 5 and help promote the initiative. For all donations raised during the conference, Pega and the Trefler Foundation will each donate up to $1,000,000 in dollar-for-dollar matching contributions to SU2C.
Although scientists have made significant strides in detection and treatment, cancer continues to kill millions every year and impact the lives of even more – cancer is the second leading cause of death globally, and was responsible for 8.8 million deaths in 2015. Globally, nearly 1 in 6 deaths is due to cancer and the number of new cases is expected to rise by about 70% over the next 2 decades. SU2C has brought together more than 1,200 scientists from over 140 institutions to fund 20 “Dream Teams” and six translational research teams resulting in more than 160 clinical trials to date.
Details on how to donate will be shared on the Empowering the Future of Research site on Sunday, June 4, the first day of PegaWorld, and will include text-to-donate and online fundraising options. The campaign will run through the end of the conference on Wednesday, June 7. Additional educational information and how to donate details will also be available on Pega’s social channels, Facebook, LinkedIn, and Twitter.
Quotes & Commentary:
“As a long standing supporter of Stand Up To Cancer, I’m gratified to see Pega supporting this groundbreaking organization and excited to partner with them to help raise funds for this important cause,” said Sheryl Crow.
“Cancer is a disease that touches virtually everyone around the world including Pega staff, our families, friends, clients, and partners,” said Alan Trefler, founder and CEO, Pegasystems. “Though we’ve made huge strides in awareness, detection, and treatment, cancer still kills millions of people every year and wreaks havoc on the lives of many others. We’re proud to support an initiative as effective as Stand Up To Cancer and to team with Sheryl Crow to fund research that helps patients and their families fight – and win – against this disease.”
- 09:00 am
Janus Capital Group Inc. and Henderson Group plc today announce the completion of an all-stock merger of equals to form Janus Henderson Group plc (Janus Henderson). Concurrent with Henderson Group plc's delisting from the London Stock Exchange, today Janus Henderson lists its shares on the New York Stock Exchange (NYSE) under the ticker symbol "JHG" (NYSE:JHG).
Janus Henderson securities will also continue trading on the Australian Securities Exchange (ASX) on a deferred settlement basis up to the close of trading on 2 June 2017 under the code HGGDA, and on a normal settlement basis on and from 5 June 2017, with normal settlement trading in Janus Henderson securities on the ASX taking place under the ticker symbol "HGG" up to the close of trading on 9 June 2017. On and from 13 June 2017, Janus Henderson securities will trade on the ASX under the ticker symbol "JHG" (ASX:JHG). The group will market its products and services as Janus Henderson Investors with immediate effect.
Janus Henderson is a leading global active asset manager that:
- Manages assets under management (AUM) of approximately U.S.$331 billion (as at 31 March, 2017)(1) with a market capitalization of approximately U.S.$6 billion
- Features significant scale, diverse products and investment strategies, and depth and breadth in global distribution
- Leverages Janus's strength in the U.S. markets and Henderson's strength in the U.K. and European markets, creating a truly global active asset manager with a diverse geographic footprint
- Expected attractive growth potential and annual run rate pre-tax net cost synergies of at least U.S.$110 million, should deliver compelling value for shareholders
(1) Pro forma combined pre-merger figures of Janus Capital Group and Henderson Group, as at 31 March 2017. Combined AUM excludes U.S.$3 billion of Exchange-traded Notes as Janus Henderson is not the named advisor or subadvisor. Exchange rate used for translation from GBP to USD: 1.25
Andrew Formica, Janus Henderson's Co-Chief Executive Officer, said: "At our core, Janus Henderson is focused on delivering for our clients. Our work together since announcement has reinforced our shared culture and aligned business goals. The breadth and depth of investment professionals and the broad array of talented colleagues gives us an enviable position to meet our clients' needs."
Dick Weil, Janus Henderson's Co-Chief Executive Officer, said: "The combined firm, Janus Henderson, creates a truly global active asset manager that is well-positioned to succeed in the investment marketplace, with expanded product suites, greater financial strength and better talent, benefiting our clients, shareholders and employees."
- White Papers
- 30.05.2017 01:53 pm
- How Financial Institutions can more effectively deliver on their Digital Transformation initiatives to close the daunting IT delivery gap
- How leveraging digital technologies can help financial institutions to gain competitive edge
- What is the role of customer-centricity in the digital transformation process
- How financial institutions and banks can gain agility to innovate and transform faster
Other White Papers
Boaz Shunami
CEO at Komodo Consulting
Peta AI named Sumitomo Mitsui Trust of Tokyo, Cathay Financial of Taiwan, and Charles Schwab of San Francisco as the top three least exposed to cyber threat companies in financial s see more
- 02:00 am
OCBC Bank has launched its first standalone mobile payments app which makes QR code cashless payments available at close to 2,500 NETS terminals.
The OCBC Pay Anyone app is available for download on the Apple and Google Play mobile app stores. From 1 June 2017, an OCBC Bank customer can pay for purchases at more than 1,000 merchants (from Robinsons to Zara, Marks & Spencer, Gap, Paradise Classic restaurants, Caltex stations and Gardens by the Bay) by scanning the QR codes on the NETS terminal or printed receipt using the OCBC Pay Anyone app. After authenticating the transaction securely with a fingerprint, the payment is immediately deducted from the customer’s OCBC Bank account and paid to the merchant through NETS. This is unlike mobile wallets which require additional steps to top up the mobile wallet using a bank account. By the end of the year, customers will be able to make QR code payments at more than 50,000 NETS terminals island wide.
Mr Pranav Seth, OCBC Bank’s Head of E-Business, Business Transformation and Fintech and Innovation Group, said: “It’s a war on cash! OCBC Pay Anyone has been a favourite payment service among our customers, who have embraced the movement away from cash and increasingly adopted paying other individuals using just phone numbers. OCBC Pay Anyone payment volumes have increased 10 times since May last year. Now, we want to bring the same convenience to paying for your regular shopping and meals using QR codes, so we decided to consolidate all of our OCBC Pay Anyone payment services into a standalone mobile app to bring greater convenience to our customers.
“The launch of QR code cashless payment adds to the suite of OCBC Pay Anyone e-payment services. I believe the pick-up of QR code cashless payments will be strong given the increasing acceptance rate of cashless payments in general over the years. We will continue to push the boundaries in mobile payments and move the needle in becoming a cashless society. We are excited about the new and varied cashless payment options that we will roll out on the OCBC Pay Anyone app.”
OCBC Bank customers get a $10 rebate for first-time QR code payments
From 1 June to 30 June, all OCBC Bank customers can enjoy one $10 rebate when they make their first QR code payment using the OCBC Pay Anyone app at Robinsons, Marks & Spencer, Paradise Classic restaurants or Caltex stations.
Customers simply need to download the OCBC Pay Anyone app, perform the one-time setup and make a purchase of any amount by scanning the QR code on a NETS terminal at Robinsons, Marks & Spencer, Paradise Classic restaurants or Caltex stations. The $10 cash rebate will be credited to the customer’s account in July.
Making a QR code payment with OCBC Pay Anyone
Once the OCBC Pay Anyone app has been downloaded, customers need to perform a one-time setup to enable payments via the app.
- To perform the one-time setup:
- Click “Get Started” and tick the box to agree to the app’s terms and conditions
- Key in online banking access code and PIN
- Enter the one-time password sent to your mobile device and click “submit”
- A message will be displayed indicating the successful setup
- Click “Next” to proceed with QR code payments
QR code payments are available on Apple iPhone devices running iOS8 and above, and Samsung devices running on Android 4.4 Kit Kat with the fingerprint recognition feature.
To make a payment at a participating merchant, customers simply open the OCBC Pay Anyone app, scan the QR code on the merchant’s NETS point-of-sale terminal or on the printed NETS terminal receipt and authenticate the transaction using their fingerprint. The app will prompt the customer to choose the OCBC Bank account to pay from. Once the bank account has been selected, customers click “pay now” to complete the transaction.
Chris Skinner
Chairman at The Financial Services Club
Expanding on yesterday’s discussion of how MNOs are sweeping up business for the underbanked and unbanked, Igor Pesin of Life.SREDA posted a lovely update giving even more detail. see more
- 04:00 am
Financial technology provider IRESS and ITG, a leading agency broker and financial technology firm, today announced a faster and more comprehensive analysis of trading costs for mutual clients.
The alignment will also assist mutual clients in addressing the requirements set out in ASIC’s Regulatory Guide 97, which puts growing focus on costs and transparency in fund management processes. As a result of Regulatory Guide 97, automated access and analysis of trade data is becoming a top priority for the Australian fund management community.
ITG’s Head of Trading Analytics in Asia Pacific, Erin Stanton, said: “Our clients are faced with ever increasing demands for trading cost analysis from internal groups, regulators and external clients. This new alignment will make sourcing the trade data from IRESS easier and quicker.
“The more simple data delivery mechanism allows our client service team to focus more on where we can really provide value to clients, particularly through expert consulting on benchmarks and models, trends in buyside trading behaviour and costs, and in helping them respond to the increasing number of requests for data they are now receiving.”
IRESS Managing Director of Financial Markets for Australia, Kirsty Gross, said: “IRESS is pleased to be working with ITG to enhance the experience for our mutual clients. Our goal is to deliver improved solutions to respond to client needs.”
- 04:00 am
Visa today announced upcoming enhancements to its Verified by Visa service, a global solution designed to make online purchases more secure by helping ensure payments are made by the rightful owner of the Visa account.
The updated technology behind 3-D Secure 2.0 provides more tools for issuers and merchants to customize the authentication process and ensure the consumer experience is easy and fast. By building a real-time, collaborative, information-sharing pipeline, Visa has enhanced the data transfer between merchants and issuers to use an unprecedented number of transaction attributes (e.g. device type, shipping address). This allows merchants and financial institutions to authenticate customers more accurately in real-time. Studies show checkout time can be reduced by 85 percent and, in turn, cart abandonment is anticipated to decline by as much as 70 percent.
“Authentication technology has come a long way since the days of magnetic stripes and signatures. As the way we make payments has changed, so, too, has the need for innovation to keep transactions secure. The vast majority of Europeans have used a mobile device to make payments, but fraud and security concerns remain the number one deterrent,” said Mike Lemberger, Senior Vice President , Product Solutions Europe, Visa.
“By helping to lead the development of 3DS 2.0, we are able to offer an enhanced authentication service that makes these payments both faster and more secure. For European retailers, this helps address the ongoing challenge of reducing cart abandonment in an e-commerce market. This update also provides all the necessary tools to ensure PSD2 compliance for card payments - a major benefit which should not be underestimated.”
To ensure issuers and merchants have time to test, pilot, refine and fully roll out solutions, current Visa rules for merchant-attempted transactions using 3-D Secure will extend to the updated version beginning April 2019. Merchants and issuers are already working on their implementations and Visa expects early adoption to begin in the latter half of 2017. Visa will continue to work with clients and partners globally to support the new 3-D Secure 2.0 solutions, with a focus on continuing to improve payments security and increasing authorizations, to ensure seamless digital payment experiences.
Enhanced multi-device capability will help to protect consumers wherever and however they choose to pay. Visa’s 2016 Digital Payments Study of over 36,000 European consumers revealed three times as many pay regularly using a mobile device compared to 2015 (54 percent vs 18 percent). The improvements will also help enable the future integration of payments technologies into the Internet of Things, as over 20.8 billion connected devices are forecast by Gartner to be in use by 2020. Enhanced risk-based authentication will cut down points of friction by reducing instances requiring step-up verification, such as a static password or PIN, when making a purchase across any device.
