By integrating the Actiance Alcatraz cloud-based content archive with Fonetic’s ATR surveillance and trade reconstruction, the companies will offer a solution that breaks up data siloes and provides instant and accurate access to and analysis of historical and current trading activity. Companies will have a single platform for capturing, archiving, analyzing and enforcing compliance on trade-related activities, for both written and voice communication through all channels.

“Financial Institutions have historically stored information and processed data in discrete areas,” said Juan Manuel Soto, Chief Executive, Fonetic. “Our collaboration with Actiance will provide a unified and integrated solution to store and analyze written and voice communication of pre- and post-trade data. In the face of MiFID II, these capabilities are increasingly critical for financial institutions.”

Integrating Industry-leading Solutions For a Fast, Deep Analytic Dive Into Trade

“Actiance is excited to have Fonetic as a key solution partner in the Actiance Developer Program,” said Barry Ruditsky, SVP Business Development and Global Alliances, Actiance. “Our customers are actively seeking an open content repository that seamlessly integrates with next generation analytics, surveillance and discovery applications. Alcatraz and Fonetic together offer a high value solution that accomplishes this for customers looking to implement MiFID II.”

Fonetic’s ATR surveillance provides the ability to reconstruct a trade by analyzing and combining relevant email, instant messaging and voice recordings, in full compliance with MiFID II and Dodd Frank. ATR gathers, flags and organizes all the data relating to a transaction in a single area for investigation in less than 30 minutes. This provides speedy information for managers, regulators and clients to meet regulatory inquiries; monitor trading; and identify any incorrect trade reporting to avoid costly fines and sanctions, protecting reputations and preserving revenues. 

Under the agreement, ATR will be integrated with Alcatraz, a fully context-aware content store and data control layer capable of archiving over 80 different types of digital communications, ranging from email to enterprise social networks, financial networks, and public social media. It enables compliance and eDiscovery with a single, unified view of all communication channels, the ability to retain and display conversational threads, and sub-second search and retrieval.

A new ISO technical committee promises to take it to the next level, having now defined areas for future standardization work.

The inaugural meeting of ISO TC 307 Blockchain and electronic distributed ledger technologies recently held in Sydney, Australia, brought together international experts from over 30 countries to set the future course of standardization in this area, forming five key study groups for standard development: reference architecture, taxonomy and ontology, use cases, security and privacy, identity and smart contracts.

Blockchain is a shared, immutable ledger that can record transactions across different industries, thus enhancing transparency and reducing transaction costs. It is a digital platform that records and verifies transactions in a transparent and secure way, removing the need for middlemen and increasing trust through its highly transparent nature.

Craig Dunn, the chair of ISO/TC 307, for which the secretariat is held by Standards Australia, ISO’s member for Australia, said blockchain technology can have huge implications in business and government.

“Blockchain technology is a means of achieving trust and security when making exchanges, without the need for oversight by a trusted third party, and can be effective building blocks for other initiatives like anti-corruption and fraud prevention,” he said.

“Future standardization in this area can take the development of these technologies to the next step by providing internationally agreed ways of working, stimulating greater interoperability, speedier acceptance and enhanced innovation in their use and application.”

Priority areas for standardization will be considered by the study groups as they prepare their reports for their next meeting in November this year, where future standards to be developed will be agreed. The study groups will take into consideration roadmap reports developed by Standards Australia and BSI as well as submissions from a number of member bodies prepared for the first meeting.

The new partnership will open up cross-border trading opportunities for NIBC customers. Ebury will provide NIBC bank customers with an innovative platform for payments, risk management and funding. 

Many mid-size businesses do not have access to compelling international banking solutions or expertise, thus limiting their possibilities in cross-border trade. Both NIBC bank and Ebury will enable customers to gain an international business banking solution including solutions in most emerging markets; allowing them to benefit from international trade to accelerate growth. 

The partnership with NIBC bank will allow Ebury to further grow and develop its business in the Netherlands, Germany, Belgium and across Europe. Since inception in 2009, Ebury is one of the fastest growing fintech companies globally, employing over 500 staff, with offices in eight European countries and have raised over $120m of investment from the top technology investors.

Juan Lobato, CEO and co- founder of Ebury, says: “We are delighted to announce our partnership with NIBC. The NIBC team have shown outstanding achievements when it comes to placing their customer interests first. This is a great example of how banks can successfully partner with credible fintechs to improve their propositions. We look forward to bringing our solutions to NIBC customers, who will benefit from continuous innovation and a strategic international banking solution”. 

As a leading bank in the Netherlands, NIBC continually make additions to their financial solutions for their medium-sized client base, this includes recent additions of capital market solutions, cashflow management and leasing capabilities.

Paulus de Wilt, CEO of NIBC Bank, states: “When our clients take an important next step in the development of their business - decisive moments, as we call it - NIBC wants to be their financial partner. At NIBC we want to be at the forefront of technology for the betterment of our clients. This added cross-border financial solution from our partnership with Ebury will provide opportunities and minimise risk for clients to expand globally. Almost as important, the partnership will inspire us at NIBC by observing and learning from Ebury’s inventive and professional business culture; and vice versa. This also explains the rationale behind this transaction”.

From now until 31 August 2017, DBS Hong Kong credit card customers can enjoy a HK$30 cash rebate when making purchases of over HK$100 at any merchants via Samsung Pay during the periods ending 30 June, 31 July and 31 August (or up to HK$90 upon spending HK$300 during the promotion period). No registration is needed. 

“The rapidly evolving and expanding digital payments landscape is transforming the way people transact, share and connect in ways unimaginable only a few years ago. We believe Samsung Pay and other innovative payments solutions will help deliver seamless, simple and secure ways for millions of people to spend and pay everyday,” Ken Chew, Managing Director, Consumer Finance, Consumer Banking Group and Wealth Management at DBS Bank (Hong Kong), said.

Samsung Pay is a mobile payments service that allows secure mobile payments to be made at participating shops and points of sale. Samsung Pay combines NFC and a new MST (Magnetic Secure Transmission) technology to allow users to make payments on a Samsung Galaxy smartphone. Users will continue to receive all of the rewards and benefits offered by credit cards.

In addition, a company which is revolutionising Australia’s retail environment by giving customers a “buy now, receive now, pay later” service has been named as Australia’s FinTech Organisation of the Year.

The winners of the inaugural Finnie awards were announced on 24 May at a gala ceremony attended by more than 200 guests at Sydney’s Darling Harbour. The winners of 29 awards were chosen by 39 local and international judges.

The winners of the five headline awards were:

● Female FinTech Leader of the Year award: Emma Weston, CEO and co-founder, AgriDigital
● Male FinTech Leader of the Year award: Greg Moshal & Beau Bertoli, Prospa
● FinTech Organisation of the Year: Afterpay
● Emerging FinTech Organisation of the Year: Spaceship
● Emerging FinTech Leader of the Year award: Emma Weston, CEO and co-founder, AgriDigital

Awards were also handed out for companies that have shown excellence in 17 fintech sub-sectors, along with a further seven awards in areas such as workplace diversity, collaborative partnerships, market presence and marketing. 

Afterpay caught the attention of judges for its retail transaction solution which allows customers to buy a product and then pay for it in four fortnightly instalments. Judges were impressed with the “strong customer centric” solution and the fact that Afterpay had attracted “independent private sector bank financing”.

Emma Weston, CEO of AgriDigital, won the Female FinTech Leader of the Year award after judges commented that she had “a strong combination of business and technical leadership….she showcases resilience, creativity, and tenacity in a new business undertaking.”

AgriDigital is a global commodity management and financing solution for all stakeholders along the agriculture supply chain. In December 2016, AgriDigital successfully executed the world’s first-ever live settlement of a physical commodity on a blockchain between a grower and a buyer.

Meanwhile, Greg Moshal & Beau Bertoli - joint CEOs of Prospa - together claimed the Male FinTech Leader of the Year gong after judges stated: “Prospa comes with a fresh and energetic attitude, sourced straight from its founders. Very clear vision and target-focused, the results speak for themselves.” 

Prospa is a leading Australian business lender. It was reported in April that Prospa has provided more than 10,000 loans worth over $250 million to small business customers.

FinTech Australia President Simon Cant said he was delighted with the quality of entries and winners in the first industry-backed awards to be held in Australia.

“Tonight’s awards showcase the excellence in Australia’s fintech industry and will really help promote this industry to a broader audience, assisting it to grow in a highly globally-competitive environment,” he said.

“The winners are a testament to the dynamic and exciting Australian fintech environment which has come a long way in a few short years and has almost unlimited potential.

“The awards also amplify the work of our fintech industry members who are taking on and solving key industry challenges, such as increasing leadership diversity and building partnerships with larger financial institutions”.

Reporting to Executive Vice President and Head of the APAC Region Ivo Distelbrink, Kwakernaak will be based in Sydney.

“As a highly regarded leader in the global financial arena, Kees Kwakernaak is a welcome addition to our APAC team,” said Distelbrink. “With more than twenty years of experience, Kees will spearhead First Data’s strategy in Australia and New Zealand as we deliver next generation payment technology to help our financial services and merchant clients grow their businesses.”

Kwakernaak joins First Data from Bank of America Merrill Lynch (BAML), where he held the roles, including Head of Corporate Sales and Head of GTS Product Management for Australia and New Zealand, as well as Head of Commercial Cards for the Asia-Pacific region. Prior to joining BAML in 2010, Kwakernaak served as the Head of Payable & Receivable Products, Working Capital Services, at National Australia Bank. Over the years, Kwakernaak has also held a number of senior roles at MasterCard International.

Following entry into Australia in 1992, First Data has become a leading eCommerce and mobile technology provider, complementing its core offerings of issuer processing and acquiring. First Data’s clients in the region include financial institutions and businesses ranging from multinational fuel companies, large retailers, and small to medium sized merchants. The company’s footprint has since expanded to serve clients in 19 APAC countries, including China, India, Thailand, Indonesia, Vietnam and the Philippines.

“Given First Data’s unique position at the centre of the fast-paced payments ecosystem, I am delighted to join the organization, especially at such an exciting time,” commented Kwakernaak. “The Australian business has been on a transformative journey and I am keen to accelerate business momentum as we focus on growing our local presence.”

Security and safety are primary concerns when making use of any product or service. In recent years, as computers and smartphones have become more essential to daily life, reports of losses from leaked passwords and accidents related to smartphone use have become increasingly common. NEC's hearable device user authentication technology helps reduce these risks by providing an additional layer of personalized security that allows users to devote greater attention to their surroundings.

The device is equipped with NEC's unique otoacoustic authentication technology, which recognizes the characteristics of a user's ear in order to enable hands-free authentication of an individual. This enables users to safely and securely activate their computing devices, without distracting their attention to key in a password.

In addition, the prototype's motion sensor can be used to estimate user locations, even in indoor environments where GPS signals are obstructed. This can help provide guidance to users who become lost in large facilities, such as shopping malls or airports.

Moreover, since the device is situated in a user's ear, it is subject to less shaking and noise when compared to wearable devices worn around the wrist or neck, enabling it to reliably obtain information. This also means it can recognize the orientation of a user's face, a change in posture, or activities such as walking or running. In the future, it is expected to track pulse rates and other biometric information.

This authentication device easily connects to a smartphone or other computing devices via BLE (Bluetooth Low Energy) in order to access the Internet and to take advantage of a wide range of services, including map sites for city guidance. Moreover, the device consists of a microphone, speaker, and a 9-axis motion sensor, which is equipped with acceleration, gyroscope, and geomagnetic sensors.

In order to promote the development of a wide range of services for the device, NEC will publicly provide application programming interfaces (API) for its otoacoustic authentication technology and indoor positioning technology, in addition to providing device manufacturers with design specifications for the hearable device prototype.

"NEC is aiming to commercialize hearable platform services that combine individual authentication, indoor positioning, acoustic AR (augmented reality), vital sensing and other technologies by the end of 2018," said Tomonori Kumagai, General Manager, Business Development Division, NEC Corporation. "Going forward, NEC will accelerate trials in collaboration with service providers and device manufacturers, while proposing new approaches to computing that utilize these technologies."

FusionBanking Corporate is designed to automate and integrate business processes across the bank, from initial transaction entry through to end-to-end processing and reporting. The project will see ATB upgrade its Misys FusionBanking Equation platform, as well as deploying the latest FusionBanking Trade Innovation trade finance module. The bank will also roll out FusionCapital Opics for treasury, giving ATB access to the most up to date functionality and allowing the bank to benefit from fully integrated trade, treasury and cash management services. 

The corporate banking platform also includes Misys FusionRisk - enabling bank staff to gain a single, up-to-date view of risk exposures and limits across all areas of the business to manage risk more effectively.

The technology is being deployed in a phased roll-out over the course of the year at ATB’s head office in Amsterdam. The bank will also take advantage of Misys FusionFabric. As well as providing connectivity between the Misys components, FusionFabric opens up integration possibilities with external systems and APIs - making it much easier for ATB to upgrade and incorporate new functionality moving forward. 

Michel Hofman, Head of Business Technology and Change at ATB, said, “We’re re-affirming our commitment to Misys as our long term technology partner. The Misys technology roadmap and flexibility of the Misys Fusion software portfolio will allow us to deliver on the potential of connected corporate banking and to best serve our customers today and in the future.”

Nadeem Syed, CEO at Misys, said, “Our solution will help ATB to simplify and enhance its architecture, transforming its business by moving to an interconnected and digitised process to enhance relationship banking capability, while also achieving significant cost savings. The bank will also be able to respond more quickly to changing market requirements and grow its business. ATB will be a model for other banks to follow.” 

ATB has been a Misys FusionBanking Equation customer for over 20 years. Misys FusionBanking Corporate delivers a complete, connected suite of solutions for corporate banking, covering digitalised front-to-back processing across trade finance, treasury services, payments, lending and cash management.