Published
- 01:00 am
Cyberbit, whose cybersecurity solutions protect the world's most sensitive systems, today announced that it will demonstrate its Cyberbit Range platform at the Infosecurity Europe conference, 06-08 June, in Olympia, London. Cyberbit will showcase a ransomware attack simulation, which is one of the cybersecurity training scenarios available for the Cyberbit Range, to demonstrate how simulation significantly improves cybersecurity teams' ability to respond to a ransomware attack on their organization.
"Organizations now understand that people, not necessarily products and technologies, are their bottleneck in responding to cyberattacks, with the recent WannaCry outbreak being an example," said Cyberbit CEO, Adi Dar. "Many cybersecurity teams and company executives have never experienced a ransomware attack and were caught off-guard during the recent attack. With better trained teams, many of these organizations could have reduced or eliminated the impact of this attack," added Dar.
Trainees in the Cyberbit Range practice in settings that replicate their organization's network, security products and traffic, while threats are automatically generated according to predefined scenarios. The Range provides trainees with tracking, feedback, ranking and debriefing, so the team can experience the attack as it will occur in real life, understand what they need to do better next time, and respond faster and more effectively when confronted with a real attack.
The Cyberbit Range is the most widely deployed cybersecurity training and simulation platform. It is used by enterprises, MSSPs, consultancies, academic institutions, governments and military organizations. Besides ransomware, the Range provides a rich set of scenarios that include advanced malware attacks, DDoS, virtual and physical ICS/SCADA attacks and cross-functional executive training.
- 09:00 am
To ensure coffee lovers get their morning started right, Dunkin’ Donuts now accepts Masterpass by Mastercard so guests can quickly and easily purchase and reload virtual Dunkin’ Donuts cards on DunkinDonuts.com and the Dunkin’ Mobile App.
Using Masterpass on DunkinDonuts.com and in the Dunkin’ Mobile App to purchase or reload a DD Card ensures your morning cup of coffee is never further than a tap away. For even more perks, Dunkin’ Donuts guests can enroll their virtual DD card in the DD Perks® Rewards Program and earn points toward free Dunkin’ Donuts beverages for every purchase they make at participating Dunkin’ Donuts locations.
“At Dunkin’ Donuts, we show appreciation for our loyal guests through technologies that make enjoying Dunkin’ coffee, food and other beverages as fast and easy as possible,” said Scott Hudler, Chief Digital Officer at Dunkin’ Donuts. “Leveraging new digital payment options like Masterpass by Mastercard provides guests with another quick and convenient way to run on Dunkin’ through our Mobile App, and helps us continue to stand apart for an unsurpassed in-store experience.”
Masterpass stores all payment information, including card details, shipping information and payment preferences in one convenient location simply and securely. In the Dunkin’ Mobile App, consumers can set up Masterpass to purchase and reload their DD Card as fast as they can speed past the line in store using Dunkin’ Donuts On-the-Go Mobile Ordering.
“Mastercard is excited to partner with Dunkin’ Donuts to integrate Masterpass into the Dunkin’ Mobile® App,” said Linda Kirkpatrick, Executive Vice President, US Market Development, Mastercard. “This partnership combines the latest and safest digital technology with Dunkin’ Donuts market leading loyalty program to help their customers ‘win the morning’.”
An integrated marketing campaign kicks off next week with a series of humorous new television spots and digital content that show how Masterpass in the Dunkin’ Mobile App can help win the morning.
- 01:00 am
Nasdaq, Inc. (Nasdaq:NDAQ) and Astana International Financial Centre JSC (AIFC) announced a new, significant agreement. Nasdaq has been selected to power Kazakhstan’s nascent stock exchange, the AIFC Exchange. The exchange is targeted to launch in late-2017 and will initially trade equities and fixed income with other asset classes for future phases.
Within the framework of the agreement, the Nasdaq Matching Engine will be implemented and go through several rigorous testing and acceptance stages before official deployment. The Nasdaq Machine Engine is the most widely-used matching engine in the world that combines extraordinary performance with extensive functionality to cost-effectively meet current and future business and performance requirements. Once the AIFC Exchange goes live, Nasdaq will provide continual maintenance and technical support.
Kairat Kelimbetov, Governor of Astana International Financial Centre, commented: “Nasdaq’s matching engine is considered the best trading platform globally, and is differentiated by the breadth and depth of its offering, security and functionality. The AIFC Authority is pleased to cooperate with Nasdaq in creating the country’s exchange infrastructure.”
Lars Ottersgård, Executive Vice President, Head of Market Technology, Nasdaq commented: “Nasdaq is honored to contribute to the new ‘state-of-the-art’ exchange infrastructure being built by AIFC Authority for the Kazakhstan and related international markets. By leveraging our Nasdaq Financial Framework, the AIFC Exchange will be running on ground breaking technology, which will allow for standardized and unified operations, coupled with robust flexibility to boost its competitive proposition in a rapidly evolving international marketplace. We look forward to partnering and supporting AIFC in this exciting new development.”
Nasdaq’s exchange technology, including trading, clearing, CSD and market surveillance systems, is in operation in more than 90 marketplaces across the Americas, Europe, Asia, Australia, Africa, the Middle East and the Caribbean.
About AIFC
In December 2015 President of the Republic of Kazakhstan Nursultan Nazarbayev signed the Constitutional law “On the Astana International Financial Centre” (AIFC). The aim of the AIFC is to form a leading international centre of financial services. For the first time in post-Soviet region Common law framework will be introduced in the AIFC. English shall be the official language of the AIFC.
The objectives of the AIFC are to attract investment into the economy through the establishment of an attractive environment for investment in the financial services, to develop local capital markets, to ensure their integration with the international capital market, and to develop markets for insurance and banking services and for Islamic financing in the Republic of Kazakhstan.
- 08:00 am
Everex, a well established blockchain company developing Ethereum applications, announced yesterday that it is expanding its operations towards global, blockchain-enabled microcredit and fiat remittance services.
Everex mobile fiat transactions are based on the company’s already existing Cryptocash service and its mobile Ethereum wallet. Cryptocash is an Ethereum ERC20 token family, pegged to fiat currencies and tradable on the Everex Wallet, as well as on third-party applications and exchanges. With the new product launch, Cryptocash will be redeemable against its fiat counterpart at ATMs, currency exchangers, and mobile service providers worldwide, allowing users to instantaneously transfer fiat money anywhere at extremely low costs.
The Everex remittance system was already tested last year, allowing hundreds of migrant workers to transfer an aggregate amount of 850,000 THB from Myanmar back home to Thailand.
The new service will also allow users to request micro-loans in any currency from their mobile phones. The credit scores, necessary to assess interest rates, loan periods and risk, will be automatically generated on the spot, based on user behavior, social data, and spending patterns, which Everex collects through the company’s mobile wallet application.
“Generating credit scores on the basis of mobile data will allow us to serve the microfinancing needs of many un- and underbanked individuals which, due to the often deficient documentation and track records in the developing world, had until now no access to affordable credit,” Said Alexi Lane CEO and co-founder of Everex, adding that “Affordable credit is a key element of entrepreneurship and economic empowerment, and we’re proud to be able to provide this service”
The seed capital to launch Everex’s micro-lending operation will be raised in an Initial Coin Offering (ICO) this summer. As declared by Everex, the company will use profits, not directly reinvested in growth, to buy its tokens (EVX) back from the market - insuring that the company’s success is shared with token holders.
- 01:00 am
SIX Financial Information has been crowned Best Overall Data/Service Provider for the first time at the Waters Technology Inside Market Data and Inside Reference Data awards. The data vendor also took home the Most Innovative Regulatory Solution, in addition to being named Best Corporate Actions Provider for the eighth consecutive year.
The awards are designed to recognize those firms leading the way in the market data, reference data and enterprise data management industry. The winners are chosen by an independent judging panel of financial institution professionals, therefore providing an accurate picture of true market sentiment.
In recent years SIX Financial Information has used its core expertise in reference data to develop data and services to help financial institutions respond to regulations. Thanks to a highly-structured data model, SIX data feeds integrate intelligent cross-referencing to data required for regulatory compliance. This has allowed the company to launch new services that help firms meet IRS 871(m), CRS/AEoI, global sanctions and investor protection rules.
The Sanctioned Securities Monitoring Service, which won Most Innovative Regulatory Solution, is a specialist single-source service for firms who need a daily list of securities and issuers affected by global sanctions. The service delivers easy-to-read information about controlling persons and why a security is sanctioned – enabling firms to make sure they don’t carry out trades with black-listed countries or individuals, while avoiding costly data processing and research.
Robert Jeanbart, Division CEO SIX Financial Information said: “To be independently recognised in three separate categories reinforces our commitment to investing in product development. As the global regulatory landscape evolves, innovation is key to ensuring that market participants adjust seamlessly to new rules. Against the backdrop of pressing compliance challenges, we will continue our innovative approach to help financial institutions reduce their bottom line costs and focus on differentiating business activities.”
- 01:00 am
Accountex has reported a record turnout for another successive year. The UK’s biggest event for the accountancy and finance profession welcomed 7,021 attendees (a 7% increase for 2017) to London ExCeL over 10-11 May.
The who’s who of visitors included many of the country’s top accountants, finance directors, accounts managers, tax professionals, heads of IT, bookkeepers, and sole practitioners (working in practice, industry, and the public sector). For them, Accountex is the “must attend” event for discovering the best new products, tools, solutions, insights, and innovations of the year.
Among them were representatives from organisations as diverse as Alexander Dennis, Alliance Healthcare, Burberry, Centrica, Christie's, Defra, DHL, Emirates, Fox Networks Group, The Gap, HMRC, Liberty Global, NatWest, NHS, Ministry of Justice, Paragon Group, Post Office, Royal Academy of Arts, The Bank of England, and Transport for London. Plus senior names from PwC, Deloitte, EY, KPMG, Grant Thornton UK, BDO, Smith & Williamson, Moore Stephens, and Mazars (nine of the top ten firms listed in Accountancy Age’s Top 50+50 Survey for 2016[1]).
Significantly, the strong footfall has been backed by glowing testimonials from across the show floor. Fantastic, brilliant, inspiring, informative, relevant, recommended, worthwhile, and enjoyable are just some of the words attendees have used to describe the show so far. While initial survey results reveal that over 70% of visitors are already planning to return next year.
“Accountex is a fantastic way of putting your finger on the pulse of the profession,” says Rob Whitehead, partner at Jolliffe Cork.
“We love Accountex! We saw some great products that we will definitely incorporate into our business. We also discovered new features on software that we already have. It was a great day,” says Maggie Doughty, owner of The Payroll & Tax Accountants.
“It was like being in an all-you-can-eat buffet that served all your favourite foods!” says George Waore, accountant at Integrity Recruitment Consultancy.
“Accountex is an excellent opportunity to find out what is happening, what others are doing and what's in the market to support accountants and make them more profitable. Great food for thought and assistance to plan our strategy for the next couple of years,” says Yvonne Harper, finance director at Campbell Dallas LLP.
“Accountex set us up to plan the next 12 months of training and administrative improvements to our processes. The value we get from attending is practice-wide. So much so that we close the office so the entire workforce can benefit from the seminars and fantastic products on offer! We will certainly be attending next year,” says Ellie Farrell, Charles Black Associates.
“Best Accountex yet! Great people, great suppliers, the atmosphere was brilliant and the keynotes were fantastic!” says Steven Briginshaw, founder of Endgame Success (and a former chartered accountant).
The industry’s favourite show
Zoe Lacey-Cooper, event director of Accountex, calls the support of the show ‘phenomenal’.
“We are absolutely delighted that the show has been such a success,” she says. “This was the first year that Diversified had full, 100% control of Accountex after acquiring the event from Prysm in 2016, and we have been overwhelmed by the positive reactions from our visitors, exhibitors, speakers, associations and media partners. Their support has been phenomenal.
“We’ve spent a lot of time consulting with the industry over the past year to understand how we could take what was already an amazing show to the next level. And, from the feedback we’ve received already, I think that we achieved that and more!
“This year’s line-up offered our visitors an unrivalled opportunity to exchange information about the latest technologies and services on the market, and get expert advice and inspiration from some of the profession’s leading innovators and key thinkers. From the ‘buzz’ across the show floor, to the 14 theatres all full-to-the-brim, as well as the 200 exhibition stands that looked incredible – it was a very busy, valuable and productive two days for everyone involved.
“This is a really exciting time for the profession – and the accounting industry is full of positivity and enthusiasm for what’s to come. Accountex is already by far the most important and effective business event for the sector, and we have lots of new ideas on how we can grow and develop the show even further. We’ll be working closely with all our partners, associations and exhibitors over the coming year to ensure that Accountex continues to provide everything that our visitors need to run their businesses successfully,” she says.
It was the quality of attendees, high level of engagement, and quantity of new business leads that impressed countless exhibitors. Prompting nearly 45% of them to rebook for next year before the show had even closed. FreeAgent, Thomson Reuters, IRIS, BrightPay Payroll Software, Webexpenses, Reckon, Receipt Bank, Spotcap, Epayslipsecure, DataDear, Informanagement, CaseWare UK, Octopus Blue, Octopus Investments, and Futrli were among them. While TaxCalc, QuickBooks and Sage have also reserved their stands for 2018.
Summing up their exhibitor experience, Joel Oliver, CEO of MyFirmsApp, said: “Awesome! Where else can you achieve so much, in so little time? Accountex delivered us more accountants than we could handle, with our team literally swamped – a fantastic event yet again it just keeps on getting better year on year.”
- 04:00 am
Researchers at the Russian Quantum Center today announced that they have created the first quantum-safe blockchain.
Quantum computers pose a major threat to data security today and could even be used to hack blockchains, destroying everything from cryptocurrencies like Bitcoin to secure government communications. Blockchain is a decentralized distributed database that is difficult to hack because its copies are stored on millions of computers around the world. Each transaction with a cryptocurrency is recorded in a “block” file which is verified with digital signatures of the involved parties. Futurologists believe that the economy of the future will be based on blockchains without arbitration courts, banks, and tax police because each counterparty's honesty will be certified by the distributed system.
However, because quantum computers can test a large number of combinations at once, they will be able to destroy these digital signatures, leaving the blockchain vulnerable.
Current solutions are not entirely secure as they will eventually be broken as hacking algorithms advance. For example, post-quantum cryptography organizes digital signatures in a unique way that makes it more complex to hack them. However, they are still vulnerable to the development of new algorithms and it is only a matter of time until someone creates a way to hack them.
The quantum-safe blockchain developed by the Russian Quantum Center secures the blockchain by combining quantum key distribution (QKD) with post-quantum cryptography so that it is essentially un-hackable. The technology creates special blocks which are signed by quantum keys rather than the traditional digital signatures. These quantum keys are generated by a QKD network, which guarantees the privacy of the key using the laws of physics.
QKD networks have become increasingly common around the world, particularly in the financial sector. China, Europe and the United States have existing QKD networks which are being used for smart contracts, financial transactions and other highly sensitive digital transfers. As these networks continue to grow, an increasing number of organizations, both private and public, will be able to leverage the quantum-safe blockchain.
- 02:00 am
RSRCHXchange, the MiFID II research solution and marketplace for institutional research, won the award for ‘Most Innovative Data Product’ at the annual Financial News Trading and Technology Awards held in London on 25 May 2017.
The Financial News Trading and Technology Awards celebrate the success stories of those trading and technology firms operating in, and supporting, financial markets. Winning firms have been chosen by the Financial News editors and a judging panel drawn from financial industry experts and participants.
RSRCHXchange is the MiFID II compliant marketplace for institutional research, a purpose-built unbundling solution. RSRCHX offers an automated way for asset managers to track firm-wide research consumption, rate and evaluate the content they receive, improve the procurement process, and ultimately ensure MiFID II compliance.
Vicky Sanders, Co-Founder, RSRCHXchange, said: “We are thrilled to win the award for Most Innovative Data Product. We set out to create a MiFID II compliant marketplace for research procurement and consumption and are delighted that more than 1,000 asset managers and 200 research providers are active on our platform today. Gaining industry recognition for our MiFID II solution is a clear indication of the unbundling challenge we help address.”
Jeremy Davies, Co-Founder, RSRCHXchange, added: “Today’s award is testament to our team’s tireless efforts to drive the launch and adoption of our RSRCHX platform. Our gratitude goes to them, our investors and our board, who have given us the advice and support required to make the whole project a success.”
- 05:00 am
Zopa, the pioneering financial services company, announces today that it will launch its Innovative Finance ISAs in June (pending HMRC approval). With demand expected to be high, existing customers will be given priority access ahead of new customers.
Classic and Access will no longer be available for new customers, but existing customers can continue to lend through these products until 1st December, when they will be retired.
The Innovative Finance ISA will be launched in four phases:
1. The first stage (from 15th June) will be focused on existing customers who want to open a new IFISA (limit of £20,000) and lend through Core and Plus.
2. The second stage (1st July 2017 to 31st July 2017) will enable existing customers to sell their current loans and re-purchase similar loans in an IFISA wrapper. This will allow investors to retain Safeguarded loans in the IFISA. Any investing through new lending, or relending as capital is returned, will be onto Plus or Core only.
3. The third stage (from August 2017, but dependent on meeting demand for new IFISAs) will allow existing customers to transfer existing ISA investments with other providers to Zopa.
4. And finally, once we have met demands of existing customers, we will welcome investments from new customers.
From December 2017, new lending will not be subject to Safeguard. All loans that currently have this coverage will continue to receive it. This means that the Safeguard fund will be retired as of 1st December 2022, when all loans covered by the Safeguard fund would have matured.
Safeguard was introduced in 2013 to ensure that investors only paid taxes on net interest income they received from Zopa borrowers. Following a long campaign spearheaded by Zopa, tax laws were updated in 2015 enabling investors to claim for relief on losses from bad debt thus removing the primary reason for Safeguard. Last year, based on customer demand, Zopa introduced Zopa Plus - which is not covered by Safeguard. This has proven incredibly popular and since March 2017, Zopa has been operating a waiting list for new Zopa investors due to the very high levels of demand.
Andrew Lawson, Zopa’s Chief Product Officer, said: “We’re proud of our 12-year track record of prudent lending and have always provided positive returns to our customers. Safeguard was introduced in 2013 to deal with a tax anomaly that had led to peer-to-peer lenders being unfairly penalised. Since winning our campaign to change the tax rules, we no longer need Safeguard - as customers have proved by flocking to Zopa Plus. Now it’s done its job, retiring Safeguard, allows us to provide greater expected returns to our investors (because on average we over-fund Safeguard) whilst making the investor products even easier to understand. We’ll continue to maintain Safeguard for the rest of its life, and continue to build on our reputation for world-leading credit risk management.”
- 01:00 am
“It is the right time and with the right people” stated H.E. Dorte Bech Vizard, Ambassador of Denmark to Singapore and Brunei, at the signing of the first Memorandum of Understanding (MOU) between Copenhagen Fintech and the Singapore Fintech Association.
Both countries are similar in size and demographics. Each enjoys a straightforward business culture combined with stable regulatory environments. With these characteristics, they may be used as a test bed for solutions and provide access to the wider markets of Europe and ASEAN respectively. Indeed, Sopnendu Mohanty, Chief FinTech Officer from the Monetary Authority of Singapore describe Denmark as “Singapore-like” as it is equally reliable, consistent and a gateway to the region.
Copenhagen Fintech was founded in September 2016 as an incubator and co-working space for fintech companies, with a remit to drive innovation and to position Denmark as a global player in the industry. The Copenhagen fintech cluster opened in November 2016, hosts 35 companies, employing 100 people and growing rapidly.
Similarly, the Singapore Fintech Association also launched in November 2016, with 120 companies now members. The association has active plans to develop the fintech ecosystem through a range of initiatives and partnerships, at local and international level.
The first step of this collaborative process is to build bridges that connect Asian companies to European and vice versa. Joining Copenhagen Fintech for the event were representatives from three start-ups - Sophie Blakstad CEO Hiveonline; Simon Ousager Account Executive Chainalysis; Nicholas Meilstrup CEO CrediWire, along with Jan Sirich, leader in Group Digital Nordea.
From Singapore were Pauline Sim program manager FinLab, Shailesh Naik CEO MatchMove and Varun Mittal representing the Singapore Fintech Association.
Shailesh Naik, founder of payments solutions company MatchMove, with offices in Singapore, India, Chile and the US identified what he described as the “fundamentals” that made locations attractive. Regulatory regime, the depth and breadth of technical skills and the ability to connect with other countries for outsourcing and access.
Denmark has earned a reputation for success in innovation, incorporating human-centric design as an essential element in their approach. Singapore on the other hand is adept at scaling and execution. The combination of these comparative advantages provide a powerful platform for mutual innovation and success.
