Published
- 05:00 am
Fenergo has today announced that ABN AMRO has selected its award-winning Client Lifecycle Management software platform to support its CDD / KYC target operating model and business transformation strategy. The third largest bank in the Netherlands will roll-out the Fenergo Client Lifecycle Management platform across its Commercial, Corporate & Investment, Retail and Private Banking business lines.
The Fenergo solution will support an enterprise-wide business transformation strategy currently being undertaken by the European bank. The CDD / KYC target operating model involves transformation to central CDD / KYC processes and units to support and facilitate Front Office and Compliance teams.
According to Helène Erftemeijer, who has bank-wide responsibility for CDD, client master administration and regulations with ABN AMRO, “We selected Fenergo’s Client Lifecycle Management software to enable us to manage the CDD / KYC processes from client onboarding to client off-boarding and all the KYC / CDD compliance and lifecycle events (periodic and event-driven reviews) that occur in between. A core part of our business transformation program will involve creating an internal centralized KYC target operating model that will help us to simultaneously improve the client experience and reduce the cost impact of the regulatory KYC activities. Fenergo is the technology platform that will underpin this initiative”.
Speaking on the announcement, Marc Murphy, CEO of Fenergo, said, “I am excited to announce ABN AMRO to our growing client base. Over the last few weeks, Fenergo has closed deals with 10 financial institutions across Europe, APAC and the Americas. The reason is simple: banks are looking for a trusted technology partner to help them transform their business processes to create a superior client experience, whilst delivering key time, cost and headcount efficiencies across their data, compliance and front office operations. As the clear global standard for Client Lifecycle Management solutions, Fenergo is at the forefront in helping global banks to undertake and succeed in their business and digital transformation programs”.
As part of its Client Lifecycle Management platform, Fenergo’s Regulatory Rules Engine will ensure continued regulatory compliance with existing, new and changing regulations. Its Client & Counterparty Data Management module will efficiently manage the capture, storage and presentation of all legal entity / individual party master data, hierarchies and relationships. This solution is specifically designed to enhance user and client experience by re-using existing data and documentation easily. Its Data Integration Manager will consume, process and route data automatically from multiple data providers and KYC utilities, saving significant time and effort, while its sophisticated Workflow Management tool will help to efficiently manage the orchestration of the client / legal entity throughout the lifecycle process.
Greg Casey, VP Sales for Europe, commented, “The global regulatory environment continues to evolve at an unrelenting pace, changing the rules and increasing the obligations and demands for financial institutions to comply. Fenergo’s Client Lifecycle Management platform will enable ABN AMRO to future-proof their businesses against rising regulatory demands and costs. By joining the Fenergo family of clients, ABN AMRO will join a growing and active community of forward-thinking financial institutions that are forging the way forward to a new industry standard”.
- 02:00 am
NXT-ID, Inc., a security technology company, and Fit Pay, Inc., a privately held provider of payment, credential management, and authentication platform services, today announced the completion of a transaction to combine their businesses and create a comprehensive Internet of Things (IoT) platform.
Under the terms of the agreement, Fit Pay, Inc. will be a wholly owned subsidiary of NXT-ID, and Fit Pay CEO, Michael Orlando, will become chief operating officer of NXT-ID and remain president of Fit Pay, Inc. The companies will combine their technology, engineering and business teams to deliver complete enablement services to device manufacturers and to bring innovative IoT devices to market.
"Bringing powerful new capabilities to the Internet of Things requires seamlessly connecting devices to robust services, reliably authenticating users, and keeping data safe," said Orlando. "Security and authentication are the essential to the growth of the IoT market, combining our platform with NTX-ID's identification technology and hardware expertise positions us to offer transformational products and services that capture IoT market share."
Fit Pay's white-label technology platform delivers payment, credential management, authentication and other secure services to the IoT ecosystem. Fit Pay has developed a highly secure payment network tokenization scheme and integrated with the major credit card networks to provide an all-in-one solution that allows manufacturers to add payment and authentication capabilities to IoT devices.
- 05:00 am
Form3, the cloud based end-to-end secure standard for global payments processing, today announced the partnership with Apply Financial, the specialist payments validation company. The deal will further enhance the Form3 Payments-as-a-Service platform with powerful automation services to validate, enrich, and fix single and bulk payments. Together this will allow clients to access payments schemes through a single API making payments processing, automation and integration easier.
The payments industry is undergoing massive change and disruption - key issues include the difficulties that come with fragmented, expensive and difficult to implement systems. Clients use Form3 to send and receive payments quickly, cost-effectively and reliably via the cloud, with no infrastructure requirements and minimal up-front investment. By integrating Apply Financials API’s, clients will achieve 100% STP rates, as well as secure data and complying with regulatory requirements.
The Form3 cloud solution includes simple API’s for clients to easily connect with their banks and directly into payment systems such as Faster Payments, Bacs, SEPA, CHAPS and SWIFT, without a complex web of disparate technologies.
Mike Walters, Chief Product Officer at Form3, says: “Our goal is to simplify and streamline the payment process for our clients - so they can deliver better customer experience, gain greater operational control and operate cost effectively. Form3 clients needed to move away from dealing with a complex web of vendors and technologies and accept that highly customised systems and manual processes are a thing of the past. Our partnership with Apply Financial solves this problem for payment data quality with simple access to the full universe of payment validation services”.
Mark Bradbury, CEO at Apply Financial, said: “We are very excited to be working closely with Form3 as we have followed their progress with great interest. We share the same vision of providing quality API based technology to enable banks and Fintech’s to dramatically improve customer experience, automation and service levels”.
- 01:00 am
InAuth, a leading provider of digital device intelligence solutions for a mobile-first world, today announced its expansion into the Japan & Asia Pacific (JAPA) regions, bringing its device authentication tools into one of the fastest-growing regions for mobile transactions. The move is part of the company’s aggressive, multi-pronged growth strategy to expand its geographic footprint beyond North America.
In addition to the opening of the JAPA markets, InAuth maintains offices in Boston, where it is headquartered, as well asCalifornia and London, which serves Europe and the Middle East. Today, InAuth solutions are in use by some of the world's most widely recognized brands. The company was acquired by American Express in December 2016.
“The Asia-Pacific region is experiencing explosive growth in mobile transactions across every sector, from financial institutions and payment processors to e-commerce and m-commerce providers,” said Mark Dawes, InAuth General Manager for JAPA. “Organizations must implement next-generation device intelligence solutions to combat fraud and reduce risk and exposure, as well as enable them to innovative and fully leverage the mobile channel. We look forward to bringing our advanced solutions to this region and helping businesses protect themselves and their customers.”
“We are excited about our expansion into this region and the many opportunities to work with industry-leading businesses to help them better protect their mobile and browser channels,” said InAuth President Lisa Stanton. “We enter this market recognizing businesses’ need for advanced insights and intelligence to reduce fraud risk in their digital channels, as well as protect their brand reputation and customers. With a growing client base of marquis global brands, strong strategic partnerships and an experienced management team now in place, InAuth is well-positioned to help organizations in this region successfully navigate the complexities of a mobile-first world.”
- 01:00 am
AEVI has today announced a partnership with Australian-based technology company Tanda, to bring their industry leading cloud-based payroll and rostering solution to AEVI’s Global Marketplace; the B2B app store for smart Point of Sale (SmartPOS). This collaboration will enable merchants in the retail and hospitality space to streamline their workforce management via the apps seamless integration with AEVI’s range of compatible SmartPOS devices.
SMEs are always on the lookout for innovative ways to save time and reduce costs. With Tanda’s market leading automated workforce technology, they can do just that. Rather than wasting time on payroll and HR, owners will be free to focus on the things that truly matter to their business. With over 145 million rostered hours across 2,500 business locations around the world, Tanda combines all the workforce management tools a merchant could need into one simple, secure, solution. From reliable time clock applications to user-friendly digitised rostering, Tanda’s innovative software takes the guess work out of time management, ensuring employees are paid accurately and on time.
The strategic partnership with AEVI will expand Tanda’s global reach, and make their solution available to a global network of key merchant banks and acquirers. With over 70,000 SmartPOS terminals already in operation across Australia and central Europe, AEVI is the ideal partner for Tanda to increase their speed to market, and expand into new regions.
Liam Scanlan, Director of Strategic Development for Tanda said, “Partnering with AEVI will bring best of breed solutions to businesses all over the world, uniting Tanda’s leading workforce management software with AEVI’s Global Marketplace. Tanda and AEVI know there is an opportunity to make a real difference to the lives of business owners in how they pay and manage their staff, giving them more time to invest in running their business. Our combined offering helps achieve this.”
“We are thrilled to bring Tanda’s market leading workforce technology to our Global Marketplace” said Mike Camerling, Director Marketplace, AEVI. “We could all use a little more time at work. Thanks to Tanda that is now a real possibility for the merchants of all our bank and acquiring customers.”
AEVI continues its mission to pioneer and lead the payments community towards an open ecosystem. Providing banks and acquirers with the capabilities to differentiate themselves on more than just price and technical specifications. To find out more about how AEVI continues to grow its choice of value-added apps and services please visit marketplace.aevi.com.
Tanda is a leading workforce management solution headquartered in Brisbane, Australia; which currently provides market-leading solutions to thousands of customers around world.
- 07:00 am
TransferTo, a leading B2B Cross-Border Mobile Payments Network, has appointed two industry heavyweights to bolster its senior executive team. This is a strategic move to help support current operations, and steer the company towards the next big phase of development and growth within the Mobile Airtime and Mobile Money markets.
Peter De Caluwe joins TransferTo as the global Chief Operating Officer. His primary goals include overseeing all global internal operations, and managing the company’s investor relations. Peter brings a wealth of experience to the team, previously holding the position as CEO Payments-PayU at Naspers, and prior to that, CEO at Ogone, now known as Ingenico ePayments.
Peter commented, “I’m delighted to join this vibrant and dynamic company at such an exciting stage of its development. The team have already built an incredible global business and now we’re ready to drive real innovation at greater scale across the industry. I’m really looking forward to the journey ahead.”
Also to join the team is Thierry Siminger, as Chief Customer Officer. Thierry brings over 20 years’ of experience in the mobile and banking industry, and was previously the President of Middle East and Africa at SIGFOX. Thierry is overseeing the global sales functions and will be responsible for driving successful delivery of TransferTo’s global growth plans.
“This is an exciting time to join such an energetic and rapidly-expanding business like TransferTo. I am excited to lead the change in growing and expanding TransferTo’s global footprint, and building stronger partnerships across our Mobile Airtime and Mobile Money businesses”, says Thierry.
TransferTo CEO, Eric Barbier added, “We’re extremely honoured to have Peter and Thierry join the team. TransferTo is going from strength to strength, and as a global business, we need to ensure we’re always at the forefront of the FinTech industry, delivering solutions that shape the future of payments. Both Peter and Thierry are a great addition to our senior executive team and will play an instrumental role in preparing TransferTo for the next phase of growth.”
Peter is based out of company’s headquarters in Singapore, and Thierry is stationed in Dubai.
- 02:00 am
Linedata (NYSE Euronext: LIN), the global solutions provider dedicated to the investment management and credit industries, today announced that the Israel Discount Bank of New York (IDBNY) has chosen its best-in-class lending and leasing solution for credit decision makers: Linedata Capitalstream.
IDBNY, a New York commercial bank with over US$ 9 billion in assets, has chosen Linedata Capitalstream as a cost-effective platform to increase organizational efficiency and institutional portfolio transparency throughout the bank. IDBNY will utilise Linedata Capitalstream to manage its entire commercial lending origination process and ongoing account monitoring, implemented alongside Linedata Hosting to enable the rapid roll-out of the solution.
Linedata Capitalstream is recognized as a market leader in providing leading financial institutions with the tools and services required to automate multiple lines of business across the globe. Additional benefits which influenced the selection process include better workflow management tools and capabilities throughout the underwriting and credit approval process, as well as the ability to access IDBNY’s new commercial loan origination system through Salesforce.com.
Louis Turano, Senior Vice President of IT, IDBNY, said: “By implementing Linedata Capitalstream and Linedata Hosting, we can achieve greater overall portfolio and pipeline transparency and improve the credit approval and loan funding processes. The flexibility and scalability of the platform gives us confidence that Linedata will be able to continue to support us as we look to further expand our services.”
Steve Nippak, Senior Vice President, Global Sales at Linedata Lending and Leasing in North America, said: “We are very excited about working with IDBNY, which validates our mutual commitment and passion to serve our clients and the industry. This long-term partnership with IDBNY adds to our already extensive list of clients and is testament to the ability of our proven solutions to continue to meet the regulatory and organizational challenges faced by the banking industry today.”
- 02:00 am
Oracle today unveiled Oracle Utilities Customer to Meter, a comprehensive meter-to-cash solution for today's customer-first utility. Oracle Utilities Customer to Meter is the first offering to combine a market-leading customer information system (CIS) with a market-leading meter data management system (MDMS) into one solution with a single user interface.
Leveraging a single shared technology stack, this new solution can reduce utility costs due to faster implementation times, fewer integration points, and greater operational efficiencies. Oracle Utilities Customer to Meter delivers all of the benefits of a complete meter solution and a powerful customer platform, enabling utilities to more immediately and efficiently extract value from advanced metering infrastructure data to improve customer experience. With this streamlined approach, utilities can more easily design customer-centric, personalized programs and services, and prepare for the continued growth of smart meter programs. This holistic solution lays the groundwork for an evolving utility that wants to roll out smart meters in the future, without a major IT project.
"Utilities that leverage data to deliver an improved customer experience and more personalized programs - such as tailored time-of-use billing, or targeted home energy management advice - and do this with a single, integrated solution that combines customer and meter data, will be well poised to take advantage of the continued growth of smart meters and a smarter, more customer-centric grid", according to Roberta Bigliani, Vice President, IDC Energy Insights.
With rising customer expectations and expanding smart grids, utilities are turning to modern, comprehensive technologies that deliver world-class customer engagement and operational efficiencies. Oracle Utilities Customer to Meter provides the platform to respond to evolving market dynamics and quickly implement new business requirements that span metering, rate analysis, billing, collections and customer programs. For example, as electric utilities face increasing distributed generation they may test new rate structures to better manage demand. With Oracle Utilities Customer to Meter, months of customization can be reduced to hours of configuration and utilities can easily test and implement the changes necessary to evolve. Oracle Utilities Customer to Meter consolidates advanced usage and billing capabilities for all meters – from scalar to interval – so utilities can manage those meters and their data in one place and derive greater value from grid investments.
"Oracle Utilities continues to partner with utilities around the globe to solve the issue of increasing complexity in this rapidly transforming industry. Simplifying meter-to-cash processes is an important part of those partnerships. This new solution does exactly that: it allows utilities to get up and running in a matter of months with a complete meter-to-cash solution and allows them to leverage that complete solution to streamline business processes and easily stay ahead of rapidly evolving business drivers impacting how they serve their customers," said Rodger Smith, senior vice president and general manager, Oracle Utilities.
- 05:00 am
Apptio, the business management system of record for hybrid IT, today announced real-time analytics for managing and optimizing public cloud costs in AWS. The new capability gives IT leaders real-time visibility into the cost and consumption of public cloud IaaS/PaaS environments alongside on-premises and private cloud investments. With this innovation, Apptio further extends its lead as the only product capable of managing the "true cost of ownership" of Hybrid IT.
According to recent Gartner research, "Top Challenges Facing I&O Leaders in 2017 and What to Do About Them," formulating and implementing a successful hybrid cloud strategy remains the single greatest challenge for infrastructure and operations teams. Managing the cost of cloud migration, public cloud sprawl, data center efficiency, SaaS applications and internal physical infrastructure is complex and highly variable. As public cloud spending continues to grow across multiple vendors, cost and utilization are captured in complicated invoices containing millions of line items which only further intensifies the problem.
The agility provided by the cloud is a necessity for IT leaders focused on driving innovation at the pace of business, but because cloud services charge by the hour based on usage and consumption, it is easy for costs to quickly spiral out of control and become unsustainable. IT leaders must optimize their public cloud spend to drive better decision-making and alignment with business priorities. With the addition of real-time analytics for the cloud, Apptio's applications now give IT leaders more proactive control over cloud spend and consumption.
"IT is mission critical to the business with the power to accelerate market-shaping innovation and new customer experiences through cloud technology," said Sunny Gupta, Apptio CEO. "Yet, enterprise tech leaders are looking for more flexibility than on-premises solutions offer. By embracing hybrid IT and real-time cloud costing, CIOs and their teams can avoid surprises and move from reactive fire-fighting to proactive delivery of business value that impacts the bottom line."
These new capabilities quickly and easily identify valuable insights from the vast amount of data included within public cloud invoices. Customers can view their cloud spend on an hourly, daily, and weekly basis to proactively monitor spend and spot trends. IT can also leverage a standard model delivered by Apptio to allocate cloud cost and consumption directly to the infrastructure, applications and services each business unit consumes.
- 09:00 am
Symphony Software Foundation (the Foundation), the nonprofit organization fostering open source software (OSS) innovation in financial services, on the Symphony secure collaboration platform and beyond, announced that Ipreo, a leading global provider of market intelligence and productivity solutions to financial services and corporate professionals, joined the community as its latest Gold Member.
As part of its engagement, Ipreo will take on an active role in the Foundation. Ken Watson, Chief Technology Officer at Ipreo, has been elected a Gold Director of the Board. Ipreo will engage in Foundation Working Groups such as the API Working Group, focused on Symphony platform APIs to enable server-side integrations with third-party technologies, and the Financial Objects Standardization Working Group, tasked to develop standard patterns of usage and representation to facilitate financial interactions involving humans through the Symphony platform.
Gabriele Columbro, Executive Director, Symphony Software Foundation, said, “We are excited to see a leading fintech player like Ipreo joining our Foundation. This is yet another testament to the increasing momentum in the interest for a true open ecosystem and interoperability within financial services. Fintech platform providers such as Ipreo realize the commercial benefits of collaborating in the open to maximize adoption, interoperability and developer engagement on common platforms, while focusing on delivering true competitive differentiators.”
In joining the Foundation, Ipreo adds to an impressive lineup of active member firms including Bank of America Merrill Lynch, BlackRock, BNY Mellon, ChartIQ, Citadel, Citi, Credit Suisse, Deutsche Bank, FactSet, Goldman Sachs, HSBC, ICAP, IHS Markit, J.P. Morgan, Morgan Stanley, Nomura, OpenFin, S&P Global Markets Intelligence, The Beast Apps, Tick42, Tradeweb and Wells Fargo.
