Published
- 07:00 am
Waves, a Russian-made crowdfunding platform, is now available in the Microsoft cloud. By expanding the capabilities of its Blockchain as a Service, Microsoft will enable millions of developers of blockchain solutions to quickly launch crowdfunding projects.
“We welcome the integration of the Waves Platform in Azure Blockchain as a Service,” says Konstantin Goldstein, Microsoft Russia’s Principal Technical Evangelist. “It is a platform that enabled developers to quickly launch ICO projects (a crowdfunding method), or issue tokens for loyalty programs, to name a few. This new addition to the BaaS pool of platforms contributes to shaping a unique environment for developers and for companies interested in blockchain projects. Blockchain as a Service will enable them to set up a blockchain infrastructure in one click, as well as integrate advanced technologies in their projects, such as artificial intelligence, the Internet of Things, and so on.”
The introduction of Waves on BaaS provides new opportunities for companies and software developers who would like to issue tokens using a blockchain, for example.
“Microsoft was one of the first major IT companies to officially acknowledge the potential of blockchain technology. Azure was designed to offer affordable solutions to companies that, due to their size, wouldn’t have enough resources to launch their own software platforms.
Blockchain as a Service is a quick, economical, low-risk platform for deploying open blockchain protocols,” says Alexander Ivanov, CEO of Waves Platform. “As an open, flexible and scalable cloud platform, Azure has a lot in common with Waves. We are also looking at new ways of computing, and of making powerful functionality available to end consumers. I believe partnering with Microsoft will enable us to achieve big results.”
Microsoft Azure already features a wide range of blockchain solutions, including Ethereum, Chain Core, Corda, Nxt, Lisk, and now Waves. Together, they form an elaborate ecosystem known as Blockchain as a Service, which supports the creation of all kinds of blockchain projects for all kinds of purposes and for companies of any size.
- 02:00 am
Telenor Hungary has announced the launch of new tap-and-pay functionality in its Telenor Wallet application.
The new tap-and-pay functionality makes Telenor Wallet a truly 360° digital wallet, covering almost any payment scenarios that consumers might find themselves in. Launched in late 2014, the service already represented major milestones in mobile payment services when it introduced support for MasterPass™, making it the world’s first carrier-owned wallet to support Mastercard’s global payment network. The app also features an in-app marketplace for food delivery, entertainment ticketing and purchasing Telenor accessories.
Telenor Wallet’s NFC functionality uses special SIM cards to secure card data, and works with purpose-made bank cards issued by Budapest Bank under the brand “Telenor MobilPass”. Android users can initiate the onboarding process inside the application. Once the onboarding process is complete, the bank card is installed automatically and the user can pay at any PayPass-compatible terminal around the world. Thanks to the SIM-based technology, payments can be made even when the phone is turned off.
Telenor Wallet is based on the Cellum Mobile Next platform, a market-tested and fraud-proof technology that Cellum is currently rolling out in the APAC region.
- 03:00 am
After the resounding success of the inaugural DBS UNI.CORN programme last year, DBS will kick off the second year of this innovative internship programme with 24 interns starting their 12-week internship today.
This year, DBS also received over 1,000 applications, a five-fold increase from the previous year. The 24 penultimate-year university students are from diverse disciplines, including banking and finance, engineering, liberal arts, computer science and multimedia design. They were selected based on their ability to solve problems and work in a team.
Unlike conventional internship programmes, the curriculum for the DBS UNI.CORN internship programme enables them to develop prototypes to address specific business problems. Working in teams of four, each team will be assigned a business problem statement from either the bank’s consumer banking, SME banking or technology units. Interns will be taught the agile methodology framework and will spend the next 12 weeks conceptualising, testing and developing a solution to address the problem statement. The internship concludes with a Demo Day, where each team will showcase their solutions to the bank’s senior management.
UNI.CORNs will also get an opportunity to see their prototype ideas implemented. Solutions presented by the inaugural batch of interns were tested within the respective business units. For example, one of the prototypes, an e-dollar Ang Bao on DBS PayLah mobile wallets, was even introduced as a trial to DBS staff during Chinese New Year.
Said Neal Cross, DBS’ Chief Innovation Officer, “An agile and innovative workforce will help make Singapore’s Smart Nation ambition a reality and we are excited to be a part of this by nurturing the next generation of digital bankers, strengthening Singapore’s talent pool. We are thrilled to have the second batch of UNI.CORNs join us on our digital transformation journey and we hope that they will take away with them a new way of working that will help shape the future of banking.”
Applications were open to all penultimate-year students in Singapore. Applicants were asked to complete a game designed by the bank, complete cognitive assignments and submit a video about themselves. Shortlisted applicants were then invited to take part in a 12-hour Idea Smash hackathon, where their problem solving skills and ability to work in a team were evaluated.
- 08:00 am
Axioma, a leading provider of enterprise market risk and portfolio management solutions, has brought on board industry veteran Mark Traudt as Managing Director and Head of Product Engineering.
Sebastian Ceria, Chief Executive Officer of Axioma, notes, “Industry-leading technology is at the heart of all that we do. Bringing on someone of Mark’s caliber speaks to our mission: delivering products and services that are transformational to our clients.”
Traudt’s main objective will be advancing the technology of Axioma’s full suite of products in addition to driving the development of new capabilities. He will report to Chief Operating Officer Ian Webster.
Traudt joins Axioma from risk analytics firm Quantifi, Inc. where he had been Chief Technology Officer since 2003. In his role, he was responsible for technology and architecture of Quantifi Risk, the firm’s risk management solution. Prior to that, he was a Vice President at Goldman, Sachs & Co. in Global Equity Derivatives including ING Barings, Sumitomo Bank Capital Markets, and Kidder Peabody.
Traudt is a graduate of Massachusetts Institute of Technology with a B.S. in Electrical Engineering.
- 09:00 am
Jack Henry & Associates Symitar division announced today that Dover Federal Credit Union has selected the Episys core system for in-house processing.
Having exposure to Episys at two prior credit unions, Travis Frey, Chief Innovation Officer, who came to Dover Federal Credit Union less than one year ago, was confident in the flexibility and scalability of the system. He stated, “Our core selection process was rooted in one word: agility. The next generation of banking is on the very near horizon, and financial institutions must shift their business models to create a branch experience around where the member needs to be. The right system has to be at the core of this change, and Symitar will help move our credit union in the right direction to support these strategies.”
Frey said that his credit union’s selection of Episys was due in part to the opportunity to adapt and customize the core to specific requirements via PowerOn®. PowerOn provides open, common programming protocols within the solution, giving Episys credit unions the freedom to create and configure workflows so the core best serves their needs. All changes are made within the structure and protection of the core system, but independent of the core code. “The core should just ‘work,’ not interfere with the conversation at new account opening or allow for missed opportunities.”
Dover Federal Credit Union will also implement Symitar’s Advanced Reporting for Credit Unions™ for business intelligence and analytics, and Episys Data Store™ for near real-time analysis and reporting. With these solutions in place, Dover Federal Credit Union can deliver timely reports to executives, dissect data in unexplored ways, and forecast trends with stronger decisioning capabilities.
Ted Bilke, president of Symitar, added, “As financial services evolve, it’s important that the core upholds consumer expectations and supports progress toward new strategic goals. Dover Federal Credit Union understands the importance of taking steps now to allow for future changes, and we are excited that they chose Symitar for that type of support.”
- 08:00 am
AST, a leading provider of transfer agent, proxy solicitation and governance services, today announced that it will introduce a blockchain-enabled system for proxy vote tabulation by the start of the 2018 proxy season. The new solution will be the first in a forthcoming suite of offerings based on distributed ledger technology (DLT) that AST plans to bring to market in the coming years.
AST and NuArca will work together to pioneer advances in proxy analytics and reporting that utilize immutable blockchain results and real-time facts to support issuers in the creation and execution of successful proxy campaign strategies. This solution will facilitate greater transparency and confidence in data handling, allowing issuers to make more informed decisions and strategy adjustments. It will also allow AST’s proxy solicitation experts to access advanced predictive analytics to guide complex proxy solicitations.
“AST recognized early on the value and efficiency that blockchain can bring to our business and to the industry as a whole,” Longe says. “As we look to the future, we plan to leverage internally-developed DLT as well as best-in-class third party blockchain solutions to enhance our core services, ultimately improving shareholder experience and engagement.”
Each year, AST acts as agent and/or tabulator for annual general meetings for approximately 20 percent of U.S. issuers. D.F. King & Co., Inc., an AST company and a leading proxy solicitation firm, provides in-depth analysis and governance to guide issuers in structuring proposals and campaigns that achieve management objectives. AST is also a leading mutual fund proxy solicitation agent. The company views proxy voting, which requires immutability and transparency above all, as a great use case for its first blockchain solution.
“While there is plenty of buzz in the industry about blockchain’s potential, few firms have been able to move from the ideation and development stage into the launch of real-world applications,” says Todd Cooper, Managing Director and Co-founder of NuArca. “The blockchain-based proxy voting solution that we are developing with AST will result in a targeted solution that will deliver real value in the coming year.”
“NuArca shares our vision of deploying new technologies to improve business processes,” adds Chris Jutkiewicz, AST’s Chief Technology Officer. “As we continue to advance all AST platform capabilities, especially those that provide value directly to our clients, blockchain will serve as a critical element of our architecture, certainly for proxy and as a foundation for other solutions.”
AST’s collaboration with NuArca reflects one of many new initiatives for the company under Longe, who was named CEO in January 2016. This March, AST announced an enterprise-wide rebrand and organizational alignment that demonstrate its investment in resources and infrastructure designed to optimize access to services for its clients and partners. Late last year, the company’s Canadian arm, CST Trust Company (CST), launched a Structured Financial Services unit, allowing CST to bring its proprietary technological innovations to Canada’s mortgage custody industry. Looking forward, AST is exploring additional uses for technologies like DLT, including in areas such as Ownership Intelligence as well as user interfaces of its client-facing systems.
- 03:00 am
This week Telus, one of Canada’s largest mobile carriers, launched a new integration with Microsoft to bring carrier billing to Windows 10 users throughout Canada.
As part of the integration with Boku, Windows 10 customers on Telus will be able to use their mobile phone number to save their mobile account as their preferred payment method when making any purchase across PC’s, laptops, tablets, and Xbox gaming consoles.
This integration is a first for Microsoft in Canada and will bring this payment method to over 8.5 million Telus subscribers.
With the launch of Telus Canada, Boku now provides carrier billing services to Microsoft customers across 10 markets, with more to come in the near future.
- 01:00 am
Integrated payment services and gateway provider, CenPOS, purchased 5,000 Verifone MX 915 devices and is deploying point-to-point encryption and advanced data security to auto dealers of all sizes, higher-education, law firms, insurance, manufacturing and distribution.
CenPOS SECURE is a suite of solutions designed to remove sensitive cardholder data from software applications like the merchant’s primary ERP, POS, PMS, DMS, etc. The suite consists of point-to-point encryption, tokenization and encrypted virtual PIN Pads that protect software systems by securing data in-flight and at rest.
When using CenPOS SECURE, merchants can reduce the time requirement and scope of their PCI DSS assessments. The Verifone MX line of products encrypts data at the point of interaction and facilitates a robust shopping experience for the consumer that includes secure PIN entry and signature capture.
“Merchants have enjoyed the CenPOS omni-channel shopping experience and the security that comes from it for the last 8 years. Verifone’s platform was the right choice for CenPOS. Their team of professionals have worked well with CenPOS to incorporate the next level of data security into the solution,” said Christopher Justice, CEO of CenPOS. “We’re pleased with the collaboration and diligence of the technology teams to launch these advancements.”
The Verifone MX line of products provides solid capabilities at the point-of-sale. Its design and attractive styling deliver a comfortable checkout experience while the state-of-the art technology provides added security.
“As a global payments and commerce solutions provider, Verifone’s goal is to create a world-class platform capable of supporting the ingenuity that’s constantly shaping the future of commerce. In a shared effort with CenPOS, we work to bring the highest level of security to transactions,” said Joe Mach, President, Verifone North America.
CenPOS Secure protects card present, eCommerce, mobile, mail order/phone order, and portable device transactions at the point of interaction with multiple layers of security. Integrated into the merchant’s software applications, no sensitive data is ever processed nor stored by those applications eliminating them from the scope of PCI DSS.
- 05:00 am
Daon, a global leader in biometric authentication technology, announced today that it is partnering with Experian, the world’s leading global information services company, to offer its IdentityX®authentication platform with CrossCore™, the company’s fraud and identity platform. IdentityX will be used to combat fraud and help protect consumers with less friction.
CrossCore supports a layered approach to managing risk, allowing partners to easily integrate with the platform to offer value-added services alongside existing Experian fraud and identity solutions. IdentityX will provide CrossCore users with access to multi-factor authentication using biometrics, the analysis of human characteristics that are uniquely you, such as your fingerprint, your voice, or your face, among others. With Daon’s IdentityX authentication platform, companies can add biometrics for application access and transaction scenarios where step-up authentication is required to prevent fraud. Biometric authentication reduces fraud, improves the customer experience and reduces the time needed to prove an identity.
“With CrossCore we wanted to give our clients the flexibility they need to balance customer protection with customer experience,” said Kathleen Peters, Global Vice President, Product Management, Fraud and Identity at Experian. “Partners are key to our plug and play capabilities – giving clients more choices to connect necessary solutions all in one place. Daon’s biometric authentication will help clients reduce fraud, while reducing customer friction.”
IdentityX has been proven successful with millions of enrolled users spanning the globe, enabling simple and convenient digital transactions with full confidence that their identity is protected. Daon customers choose IdentityX to enable a digital strategy that is inclusive of all their users by giving them the freedom of choice to authenticate with the factor or factors that best meet their situational needs. IdentityX customers have the freedom to integrate existing security systems into an overall security scheme and the opportunity to add new technologies as they become available, future-proofing them for the innovations of tomorrow.
“Experian has always believed that data has the potential to transform lives and create a better tomorrow,” said Daon CEO Tom Grissen. “That requires data to be understood and interpreted. It also requires a friction-free way to access that data. That’s why Daon is proud to partner with an innovator like Experian to help make its CrossCore platform even more powerful and accessible.”
- 03:00 am
BlockEx has partnered with Winston & Strawn LLP, an international law firm, which will create legal standardised documentation templates which will form the basis of the smart contracts establishing bond issuances through the platform.
These standardised templates, which will cover approximately 90% of the documentation required will dramatically reduce the time and costs for bond issuances. BlockEx has 12 new issues currently under due diligence vetting and the intention is for the first issue to be made in 2017.
BlockEx is leveraging its existing software to bring about enhanced automation to the entire lifecycle of a bond in order to reduce costs for market participants.
The BlockEx Digital Asset Platform is one of the few large-scale production-ready Blockchain products and will be launching end of May 2017 with a full exchange, white label brokerage and debt origination tools that allows for full lifecycle management of Blockchain based financial assets.
“We have been closely watching developments in blockchain technology and have been looking at opportunities to create efficiencies for existing structures by incorporating blockchain technology” said Angus Duncan, a finance partner at Winston & Strawn in London. “We are delighted to be working with BlockEx on their exciting new project.”
“The BlockEx platform will democratise bond issuances enabling small to medium sized enterprises (SMEs) to tap bond markets at lower cost. A typical bond issuance will cost anywhere between $200,000 to $400,000 once banking and legal fees are accounted for. James Godfrey MD Capital Markets at BlockEx
While most bond trading is over-the-counter, some organisations prefer to list on exchanges, and this can result in additional costs of $15,000 to $50,000. Some firms may need to obtain a rating for their bonds to increase their prospective customer base, and this can add a further $150,000 roughly.
This makes it uneconomical and sometimes impossible for SMEs to exploit the bond market, and obtain access to capital markets. We believe that the BlockEx tool Digital Asset Creation tool for SME debt via Bonds, Trade Finance and Syndicated loans radically change this existing set-up,” said Adam Leonard, CEO at BlockEx.
“We have received a lot of interest from SMEs who have been excluded from capital markets because the costs of going through a bond issuance are too high.
The SMEs that are approaching us tend to be looking to carry out issuances in the region of between $10 million and $50 million.
Current bond syndication costs simply make it too cost-inefficient for these firms to issue bonds. The BlockEx platform will shave costs dramatically to less than half and potentially even a quarter of what it is currently.
This is a huge opportunity for SMEs to access the bond market, and BlockEx is proud to provide the gateway to make this happen,” said Aleks Nowak, CIO at BlockEx.
Utilising, a Blockchain enabled system also allows for instantaneous clearing and settlement of transactions. Bond trades, for example, taking place on the BlockEx platform operate in T+30 seconds, as opposed to the industry norm of T+5 in what will significantly reduce counterparty risk. The tool also permits for unique levels of transparency, with KYC and due diligence available on the distributed ledger at the time of issuance.
