Ancala Partners LLP (‘Ancala’), the independent mid-market infrastructure investment manager, and The Peel Group, one of the UK’s leading private real estate investment and infrastructure companies, today announced a joint venture to establish an independent multi-utility operator to be named Leep Utilities (‘Leep’).

Ancala has acquired a 50% share in part of Peel’s existing utilities business, which owns and operates a range of private and regulated ‘last mile’ electricity, water and district heating utility assets. The new entity will provide a platform offering a complete utilities solution to new residential and commercial developments.

Peel’s current multi-utility platform has over 2,000 connections to homes and businesses, including MediaCityUK, intu Trafford Centre, Liverpool Waters and Liverpool International Business Park.  The business is licensed by Ofgem and Ofwat to own and operate electricity and water networks within the group’s portfolio.  Leep Utilities will build on these foundations by continuing to provide and expand its offering to Peel developments, whilst bringing much-needed competition in the market for utility connections to new UK commercial and domestic schemes. 

Spence Clunie, Managing Partner, Ancala Partners LLP, commented:

“Peel has a high quality utilities team in place that has been backed by The Peel Group, one of the foremost real estate enterprises in the U.K. This team will be augmented by the deep utilities and investment experience that exists in Ancala.  This is another example of how we proactively source platforms that add value for our investors.”

Steven Underwood, Chief Executive, The Peel Group, said:

“We are delighted to have reached agreement with Ancala Partners on the creation of Leep Utilities.  The launch of this exciting new venture is directly aligned with our strategy of securing high-quality partners to invest alongside Peel for long-term growth and to enhance the prospects for our key infrastructure and real estate investments.”

David Glover, Operations Director, The Peel Group, and Chairman of Peel Utilities, added:

“Our utilities team have worked incredibly hard to establish a strong position in the marketplace.  This partnership with Ancala now offers exciting opportunities for the future which will build on our achievements to date.”     

iMarket Communications, a premier telecommunications provider specializing in trader voice and data solutions for the financial, banking and energy industries, and GreenKey Technologies, creator of an artificial intelligence (AI) and voice-driven collaboration tool for financial market participants, today announced an interconnection partnership. 

Fidor, the innovative provider of digital banking and fintech solutions, further strengthens its leadership team by announcing today the appointment of Brad Whittfield as Global Chief Financial Officer. This is a newly created role within the Fidor Group and will be based in the Dubai, UAE - Fidor Solutions’ central hub for its global expansion. 

Whittfield is a Chartered Accountant and qualified lawyer who brings 15 years of international finance experience to the Fidor Group. He has held senior positions within KPMG and PwC and has operated across Asia-pacific, Europe and, most recently, the Middle East and Africa. 

Whittfield has extensive experience in the financial services sector having advised many of the leading global financial institutions and private equity firms. He has also played a key role in advising on a number of high profile fintech acquisitions including businesses operating in digital banking, mobile wallets and digital payments. Most recently, Whittfieldwas Chief Financial Officer of a recently launched fintech business operating in the digital payments space in the Middle East. 

His focus at Fidor will be to oversee the current global financial operations of the Group which includes Europe, the US, Asia and the Middle East, as well as help execute the Group’s ambitious global expansion plans.

Matthias Kröner, CEO and Founder, Fidor Bank and Fidor Solutions comments, “The appointment of Brad demonstrates the investment of the Fidor Group to further strengthen its executive team in supporting its global expansion strategy. The role of CFO is a key role to any fintech as it focuses on ensuring both growth and sustainability.”

Brad Whittfield newly appointed Global CFO, Fidor added, “Fidor is globally recognised as a leader in the fintech and digital banking space. The Group has experienced some phenomenal growth during the last 12 to 24 months and I am very pleased to be joining this dynamic team as the Group looks to continue its global expansion strategy.”

Misys has stepped up to the artificial intelligence (AI) plate, today unveiling Misys FusionCapital Detect. The component helps financial institutions spot booking errors, anomalies and unusual activity, accelerating trade validations and reducing exceptions with machine learning.

FusionCapital Detect behaves as a smart personal assistant for validation teams, red flagging probable mistakes that are otherwise time consuming to identify. Users can catch errors that existing tools on the market let through, reducing operational risk and preventing manual mistakes that lead to decisions being made on the wrong profit and loss information and incorrect end-of-day reports.

“This is an exciting first step into the AI world for us,” said Nadeem Syed, CEO at Misys. “We’ve been able to harness these capabilities to build a system which delivers more insight and control in a fast-paced trading environment and we have already seen positive results with an early adopter global bank. This advanced technology boosts efficiency, saving costs, and can also be applied with longer term revenue growth in mind.”

Being able to validate transactions at T+0 has become crucial in today’s pressurised regulatory environment, including under:

•             The European Market Infrastructure Regulation (EMIR): which makes it necessary to identify errors as soon as possible in order to confirm trades within 24 to 48 hours.

•             The Fundamental Review of the Trading Book (FRTB): which requires daily risk reports – unidentified trade errors will invalidate these reports, breaching compliance.

Joséphine de Chazournes, Senior Analyst at Celent said, “Manual intervention and pre-coded controls have gone some way to helping reduce errors in the trade processing sphere but neither do enough to reduce the burden, especially as regulatory demands continue to add pressure in capital markets. AI stands to be a strong catalyst in transforming the landscape and Misys is making a smart move with FusionCapital Detect.”

The Misys component thrives on vast quantities of structured data where consistent patterns of trading behaviour can be deduced and then monitored. Machine learning, based on a mix of open source algorithms and proprietary developments, ensures continuous evolution of the tool to follow moving trading patterns. 

FusionCapital Detect is available now. It is built on Misys FusionFabric technology and integrates with all core trade capture and validations systems.

DekaBank now uses the iQbonds standard software from the IT developer icubic AG for swap trading. The securities trading bank of the German savings banks (Sparkassen) has thereby expanded their implementation of icubic solutions. This decision was based on their positive experience with the IT service provider’s applications in the past as well as pending regulatory requirements. The software implementation was fully completed in only about two weeks. With the implementation of iQbonds, DekaBank already fulfils upcoming regulatory requirements and benefits from significant advantages in electronic trading:

• MiFID II readiness
• Partial replacement of the existing trade order management solution
• No costs for mandatory updates

As per the 2014/65/EU guidelines concerning markets for financial instruments (MiFID II), swap trading – trading of financial derivatives which target an exchange of future cash flows – will be subject to new regulations as of 2018. However, this was not the only reason for the switch to iQbonds for swap trading explains Jens Lippoldt, Head of Sales and Business Development at icubic AG. “With this iQbonds expansion, the bank can now process swap trades on various markets almost completely electronically. This means that future MIFID II requirements are already fulfilled and the process optimisations will add value for both the bank and its clients.”

The mentioned process improvements also resulted from high performance interfaces from icubic that were implemented for swap trading after partially replacing an existing trade order management solution. Dietmar Jakal, C hairman of the Board at the IT service provider icubic, also provides a positive summary: “We were able to implement our application at DekaBank in only two weeks, thereby adhering to a challenging timetable without a problem. During installation and sometimes also for support, we utilised our particularly efficient remote access. The fact that DekaBank, one of the leading companies in the financial sector, is using iQbonds, emphasises the quality of our application.” The Chairman of the Board also stressed that DekaBank need not budget for any cost-intensive mandatory updates.

The iQbonds software is based on icubic’s standard solutions for efficient electronic trading. The application not only supports trading on classic bond markets, but can also be used with the required components and licenses as a powerful application for trading numerous other financial instruments – such as futures, ETFs, promissory notes, convertibles, repos or swaps. This offers users many advantages because the program combines different aspects – market-making, pricing and the connections to diverse information platforms, exchanges and other markets – into a complete solution. This results in a simplification of procedures, significant speed advantages as well as a lower error rate. The software also includes many useful features including auto hedging, multi-level pricing and comprehensive security mechanisms.

Bittium exhibits its secure and strong Bittium Tough Mobile smartphone and related products and solutions for authorities at the Critical Communications World exhibition in Hong Kong, May 16 - 18, 2017.

Bittium will take part in a panel discussion “Indrustry roasting – meeting user expectations (focus on broadband)”, where the panelists will discuss how to best fulfill authorities’ end user needs. The panel discussion will be held on Thursday, May 18, in the Critical Communications Live Theatre stream. Bittium’s panelist is Mr. Michael Long, Sales Director.

Bittium’s products and solutions:

• Bittium Tough Mobile™ is a secure and durable Android-based LTE smartphone combining the latest information security and commercial device technologies. Bittium Tough Mobile incorporates a hardware-based security platform, which enables strong device security as well as deep integration of both customers' own and third party software security solutions. This dedicated hardware is essential for building layered device and software security solutions. In addition, Bittium Tough Mobile’s features include for example a programmable Push-to-Talk button (PTT), glove-usable 5” full HD display, IP67 level water and dust protection, and MIL-STD-810G level shock resistance.
• Bittium Secure Suite™ is a device management and encryption software product that complements the Bittium Tough Mobile smartphone with a scalable set of new software services for remote management, remote attestation and securing the network connections of the device. Bittium Tough Mobile smartphone and Bittium Secure Suite form a unique, complete, reliable system for processing and transferring sensitive and classified material and securing critical communication.

Friday's cyberattack on tens of thousands of computers around the world revealed businesses' and other organizations' vulnerability to ransomware and extortion. Elliptic (www.elliptic.co) is a Bitcoin intelligence firm that can guide banks and corporations through the ransomware process and work with law enforcement to identify the attackers. 

“Through our extensive Bitcoin ransomware work in the United States, United Kingdom, and Europe, we have put together a comprehensive plan for ransomware readiness,” says Dr. James Smith, Elliptic’s co-founder and CEO. 

“Most ransomware attacks follow the same general pattern,” explains Elliptic co-founder and lead investigator Dr. Tom Robinson. “The victim is given a Bitcoin (or other cryptocurrency) payment address, and a deadline to make payment. Most people incorrectly assume there is nothing that can be done to identify the perpetrator after payment is made.”

Elliptic works with clients to deploy a four-step plan for ransomware readiness and response, including measures to identify the attacker. 

1. Assess the risk

Not all ransomware is worth paying. Elliptic's team of experts may be able to decrypt the ransomware; or there may be indications that the attacker will not decrypt your machine even after payment. In the case of last week’s WannaCry attack, there is no evidence at the time of writing that the attacker will ever decrypt the compromised machines. 

Based on its deep experience and extensive network in ransomware investigations, Elliptic provides clients with an expert recommendation on whether to proceed with the ransomware payment.  

2. Obtain the Bitcoins 

Ransomware operations usually demand payment quickly, sometimes in as little as 24 hours. It can be difficult for a company to secure large quantities of Bitcoins at short notice. “Most Bitcoin exchanges have Know Your Customer (KYC) policies that prohibit them from selling new clients a significant amount of Bitcoins," explains Dr. Robinson. "Often a company will have the cash ready to purchase Bitcoins, but the exchange cannot legally open an account and complete the transaction before the ransom is due.”

Elliptic helps its clients draw up a plan to rapidly access large volumes of Bitcoins and other cryptocurrencies in case of a ransomware attack. Elliptic can help clients obtain Bitcoins through its network of exchanges and liquidity providers.   

3. Make the payment 

Large Bitcoin payments can be confusing for companies that are not used to dealing in cryptocurrencies. “Constructing a large Bitcoin transaction is a technical process. You need to define the right transaction fee, verify the destination, and sign the transaction appropriately.”, explains Dr. Robinson. “Too low a fee and your transaction might never clear; send it to the wrong address and your Bitcoins are gone forever. It’s also important that the ransomer knows which of their victims is making the payment.”

Elliptic will prepare and execute your transaction, or we can also dispatch one of our experts to your location to perform the transaction on the premises. 

4. Identify the attacker

Bitcoin transactions are difficult but not impossible to trace. Elliptic has developed advanced Bitcoin investigation software and employs a team of investigators with advanced degrees in computer science and decades of experience in the world’s top law enforcement agencies. Elliptic’s software and investigators have delivered actionable intelligence to identify ransomware and cyber-extortion attackers in the US, UK, and EU. “We are able to connect the dots between Bitcoin activity and real world actors,” says Dr. Smith. “We only provide our forensic investigation services in collaboration with law enforcement, and we have a very high success rate in delivering actionable intelligence on complex Bitcoin investigations.” 

Dr. Robinson adds: “We actively trace proceeds of ransomware and cyber extortion, and we alert our Bitcoin exchange customers if they receive illegal funds. Our goal is to defeat ransomware by making it extremely difficult to launder the proceeds of these crimes.” 

Gemalto, the world leader in digital security, is providing its Trusted Services Hub (TSH) to support Daimler AG's new smartphone-based 'digital vehicle key' for the Mercedes-Benz E-Class range. The premium car maker's innovative solution gives drivers the freedom to lock/unlock and start their vehicles using nothing more than an NFC smartphone. Gemalto's TSH enables seamless and secure over-the-air deployment of the digital keys to any type of phone that supports the solution. 

With the key safely downloaded to a secure element* via Gemalto's TSH, drivers can lock/unlock their cars by simply placing the smartphone against the door handle. The engine can also be turned on with the phone in the charging tray of the dashboard and pressing the start button. Capable of operating even if the phone battery** is drained, the need to carry a conventional key is eliminated. 

As an integral part of the 'Mercedes me connect' program, the digital vehicle key will connect seamlessly with services that meet the demands of modern mobility and digital lifestyles. 

"Digitalization demands that companies harness their expertise to forge strong relationships with all stakeholders within the connected car ecosystem," said Christine Caviglioli, vice president New Mobility Solutions at Gemalto. "For Daimler AG, this aim is fully supported by our solutions, which enable it to offer customers innovative services through their preferred device, without compromising security." 

*A Secure Element is a tamper resistant hardware platform, capable of securely hosting applications and storing confidential and cryptographic data. It can be found in a SIM provided by a Mobile Network Operator and/or an eSE (embedded Secure Element) built into phone handset by OEMs."

Unity Trust Bank, a Birmingham based commercial bank with a social conscience, is delighted to announce the appointment of Daryl Wilkinson as Director, Customer Propositions and Strategic Marketing.