Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that Green Country Federal Credit Union, based in Sand Springs, Oklahoma, has selected Fiserv as their technology partner as they work to drive progressive growth. The credit union will move to the Portico^® core account processing platform with integrated digital and mobile banking solutions, and add enhanced functionality for commercial lending. Green Country is transferring its technology from an array of providers to Fiserv, and is the first U.S. credit union to integrate a commercial lending module into Portico.

“After thoroughly reviewing the competitive landscape, we decided that Fiserv was the clear leader in financial technology, and we are confident that our Portico solution suite can help us be more efficient and ultimately grow,” said Brandon Grell, president and CEO, Green Country FCU. “We are excited to be the first credit union to integrate commercial lending technology directly into Portico. This is a major benefit for our members and loan officers, and it will enable us to continuously expand our commercial loan portfolio.”

The software-as-a-service (SaaS) suite selected by Green Country includes Virtual Branch^® for online banking with enhanced bill pay, Mobiliti™ for mobile banking, Mobile Source Capture™ for mobile deposits, Loancierge^® for lending automation, Wisdom™ for accounting and call report management, WireXchange^® for wire transfers, Teller Source Capture™ for front-line automation, and solutions for commercial lending, card processing, statements, and web signatures. In addition, Green Country will engage Raddon℠ for strategic consulting services.

“When a credit union streamlines its technology with one provider, the leadership team needs to be certain that their technology partner will provide them with leading-edge innovation and a genuine commitment to the success of the credit union,” said Ryon Packer, senior vice president, product management, Credit Union Solutions, Fiserv. “We are honored that Green Country has selected Fiserv to help the credit union grow their presence throughout local communities. Members will have access to enhanced digital and mobile services, and more convenient lending processes.”

Green Country was established in 1970, and has approximately $60 million in assets and more than 8,300 members. The credit union’s members consist of those who live, work, worship, attend school or are affiliated with Select Employee Groups in the Tulsa metropolitan statistical area. As the leading provider of member business loans by assets in Oklahoma, Green Country currently services more than $10 million of commercial assets in its lending portfolio.

Fiserv is the U.S. market leader in account processing services, and more than one-third of U.S. financial institutions rely on Fiserv for account processing solutions and expertise. Portico is built on a service-oriented, open architecture framework, which enables credit unions to integrate solutions from Fiserv and other vendors with greater ease and speed.

In a world that is moving faster than ever before, Fiserv helps clients deliver solutions that are in step with the way people live and work today – financial services at the speed of life. Learn more at TheSpeedofLife.com.

KyribaCorp, the global leader in cloud-based treasury, cash and risk management solutions,t oday announced Mitsubishi UFJ Capital, a Tokyo-based venture capital firm specializing  in electronics,healthcare, and technology investments, has joined Kyriba’s Series D funding round.

Leading the Japanese market in cloud-based financial solutions, Kyriba has more than 50 clients in Japan, including marquee clients Konica Minolta, Nissin Foods, and Suntory.

President, Muneki Handa of Mitsubishi UFJ Capital, said: “We have invested in Kyriba who have built a scalable cloud-based platform with deeply integrated bank connectivity, payments, risk management and supply chain finance. This architecture is a key differentiator for Japanese and world-wide organizations, and drives strategic advantages for organizations using Kyriba’s solution.”

Chairman and CEO Jean-Luc Robert of Kyriba, said: “The investment from Mitsubishi UFJ Capital adds to our strong balance sheet, and accelerates development in Kyriba’s finance technology solutions. We will further enhance our Client Success services as we reinforce our market leadership in Japan.”

Mitsubishi UFJ joins a distinguished list of existing Kyriba Corp. investors: BPIfrance, HSBC, BREDBanque Populaire, Daher Capital, Iris Capital and Upfront Ventures.

AxiomSL, the global leader in regulatory reporting, data and risk management solutions, announced the appointment of Olivier Kamoun as the company’s global Chief Product Officer. This appointment highlights the company’s focus and investment in developing innovative solutions to address the ever changing regulatory and compliance reporting landscape.

In his role, Olivier will be responsible for driving the overall product innovation and strategy of AxiomSL’s solution suite. “Olivier is a proven strategist with an excellent understanding of today’s constantly evolving, technology-driven marketplace. Our goal is to continue to provide greater value for our customers by driving further innovation with new products and standardisation in our existing core offerings.” said Alex Tsigutkin, AxiomSL CEO. “Throughout his career, Olivier has been a visionary and an accomplished leader. In his previous position as AxiomSL Asia Pacific (APAC) CEO, Olivier had been instrumental in setting up our operations and I believe his intimate involvement with both the global product development and sales teams have provided him up with a solid foundation to tackle this new role.”

For the past 5 years, Olivier has successfully led the development of AxiomSL’s presence in APAC which has progressed from a start-up to multi-country  regional presence. AxiomSL's award winning platform is now being used to deliver numerous multi-country regulatory compliance and risk management solutions across the region. Previously, Olivier was the founder of a trading and market risk consultancy and also the founder of a hedge fund focused on commodities, currencies and interest rate derivatives.

“I am honored and excited to take this position. In this dynamic business environment where rules are becoming more complex and time critical projects involving data management, finance, risk management and new regulatory regimes are increasing, it is critical to deliver a state of the art technology-led transformation strategy.  I am a true believer that technology solutions should adapt seamlessly to customer’s demands as senior management needs to act quickly to the constant state of change.” said Olivier Kamoun.

• 19.12.2016 -- 12:05 pm

Darren Collins, Global Director, Banking and Insurance Industry Team, Lexmark  speaks about client onboarding services and digital transformation.

With TPS as its trusted technology partner, Mobilink Microfinance Bank Limited is proud to be the first microfinance bank in Pakistan to launch Internet Banking for its customers. By adding digital banking in its product offerings, the bank is enabling its customers to process key financial and non-financial transactions at their fingertips.

Powered by TPS technology, MMBL's internet banking is quick, easy & secure, allowing customers complete control over their accounts. Customers can view their account / debit card balances and assigned transaction limits. The solution also allows customers access to a wide range of features such as ability to generate e-statements, add beneficiaries, setup & schedule inter & intrabank fund transfers, and submit request for ATM card, cheque book, on-demand statement of account and account suspension. Furthermore, the customers will soon have an option option to pay utility bills right from their internet banking account. A mobile banking app will soon be launched to enable customers to make transactions on the go.

MMBL chose TPS solution because of its depth of functionality including multi-country, multi-lingual and multi-currency capabilities. The teams from TPS & Mobilink collaborated to successfully execute this project. TPS Project Management team also received a Project Management Award at P@SHA ICT Awards 2016 for demonstrating superior performance and swiftly executing this project enabling the bank to quickly roll-out the service for its customers.

“We decided to partner with TPS because of its history of successful implementation of retail and internet banking solutions in Asia, Middle East, and Africa. By partnering with TPS, we have been able to provide our customers with the best possible services. Once we go live with PRISM Internet Banking solution, our customers will have access to the latest online banking technology.”- Ghazanfar Azaam, CEO, MMBL

“Consumers today, expect the ability to access their finances swiftly and reliably. PRISM internet banking solution will help Mobilink Microfinance Bank Limited deliver the digital banking experience that will enable the bank stay at the heart of their consumers. With the flexibility inherent in PRISM’s architecture, the bank will be able to offer new service offerings as customer demands evolve.”- Shahzad Shahid, CEO, TPS

Xura, Inc. ("Xura"), a leading provider of digital communications services, today announced that its affiliates have entered into definitive agreements to acquire Mitel Mobility, Inc. ("Mitel Mobile"), a division of Mitel Networks Corporation ("Mitel") (Nasdaq:MITL) (TSX:MNW), and Ranzure Networks, Inc. ("Ranzure").            

• Mitel Mobile, formerly Mavenir Systems, is a leading provider of Voice-over-Long-Term Evolution ("VoLTE"), Voice-over-WiFi ("VoWiFi"), video, Rich Communication Services ("RCS"), messaging, radio access and packet core solutions
• Ranzure, founded by former Mavenir Systems CEO Pardeep Kohli, is an early-stage venture focused on developing 5G Cloud Radio Access Network ("RAN") technology

The Xura Board of Directors has appointed Pardeep Kohli, formerly CEO of Mitel Mobile's predecessor (Mavenir Systems) and Co-Founder and CEO of Ranzure Networks, to succeed Philippe Tartavull as CEO of Xura, effective today. Upon completion of the transactions, Mr. Kohli will serve as the CEO of the combined company. Mitel Mobile President, BG Kumar, will join Mr. Kohli's management team and former CTO of AT&T and former President of AT&T Labs, Krish Prabhu, will join the Board of Directors of the combined company. The combined company will operate from Dallas, Texas.

Hubert de Pesquidoux, the executive chairman of Xura and future executive chairman of the combined company, commented:

"Xura has undergone a significant transformation over the past two years, and in the last several months has successfully transitioned to private ownership with the backing and support of Siris Capital, a financial sponsor with deep experience and operational expertise in telecommunications. I would like to acknowledge Philippe Tartavull for his significant contributions to the company during this transformational period. Today's announcement marks a new and exciting chapter for Xura, and will accelerate and enhance the combined company's ability to grow and deliver value to its customers, partners and employees."

Well Positioned to Partner with Customers to Bring the Next Wave of Digital Services to Market

The transaction enhances each standalone company's ability to help CSPs bring the latest monetizable services to market, while driving operating efficiencies, increased service levels, and greater flexibility and scalability as they adopt the cloud and virtualize their networks. The combined company is positioned for long-term success in the digital communications ecosystem across multiple dimensions:

• Product Portfolio: The combination diversifies and bolsters each predecessor company's standalone product portfolio, delivering a comprehensive 5G ready, fully-virtualized solution set across voicemail, VoLTE, VoWiFi, video, RCS, messaging, security, radio access and packet core
• Innovation and 5G Focus: The combination leverages each company's significant investments to date in fully-virtualized and 5G ready solutions, a combined team of over 2,000 talented people dedicated to bringing 5G ready solutions to market, and a mutual focus on continued innovation
• Customers at the Core: The combined company will keep customers at the core of its strategy with the vision to be the trusted partner of choice for CSPs as their business needs evolve
• Operational Excellence: The combined company will have scalable R&D centers of excellence in the United States, Israel, Czech Republic, India and China, enabling first-rate global support capabilities
• Management Talent: The combination adds talented and experienced executives to supplement the Xura team, complemented by a strong Board of Directors

Hubert de Pesquidoux commented:

"This is an exciting day for the three companies' stakeholders. The combination of Xura's offerings in voicemail, messaging, monetization and security solutions with Mitel Mobile's offerings in next-generation voice, video, RCS, network access and core solutions, alongside Ranzure's 5G Cloud RAN technology, will offer a comprehensive, best-in-class solution set to the combined company's global CSP customer base. Mitel Mobile and its heritage Mavenir brand and technology are synonymous with world-class innovation and customer support, and we are delighted to welcome Pardeep Kohli, who is uniquely positioned to lead the combined company."

Combined Company to Benefit from World-Class Management and Board-Level Support

Pardeep Kohli is a widely respected wireless veteran with over 20 years of industry experience, primarily focused on driving innovation in the telecom infrastructure space. He most recently served as the CEO of Ranzure, an early-stage developer of 5G Cloud RAN technology, and was President and CEO of Mavenir Systems from 2006 to 2015. During his time at Mavenir, Mr. Kohli grew the business from zero to $175 million in annual revenue and led multiple industry-first innovations, including the first at-scale deployments of virtualization and software defined networking to mobile core networks.

Commenting on the announcement, newly appointed Xura CEO Pardeep Kohli said:

"I am honored and excited to lead Xura and the combined company during this important and transformative time. Both Xura and Mitel Mobile have strong legacies of market-leading innovation and commitment to customer success. Our new company will offer a fully-virtualized, software-based solution set across every layer of the mobile network infrastructure stack, including radio access, packet core and 5G applications.

"We will be the only pure play solution provider with no vested interest in maintaining and promoting proprietary solutions. We look forward to partnering with our customers to achieve operational efficiencies as they prepare to handle the exponential traffic growth that the industry's IoT and 5G applications will bring."

Krish Prabhu, who will join the combined company's Board of Directors upon completion of the transactions, most recently served as the CTO of AT&T and President of AT&T Labs from 2011 to 2016. He previously served as Interim CEO and President of Tekelec, as CEO and President of Tellabs Inc., as a Venture Partner of Morganthaler Venture Partners, and as COO of Alcatel Telecom. Mr. Prabhu's deep industry experience, thought leadership, and strong relationships with mobile operators will serve the Board of Directors and management team well.

Conditions to Closing and Advisors

The transactions are subject to customary closing conditions, including the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and other foreign antitrust regulatory approvals, as necessary. Upon completion of the transactions, Mitel Mobile and Ranzure will become wholly owned by affiliates of Xura. The transactions are currently expected to close in the first quarter of 2017.

An affiliate of Xura has secured committed financing consisting of a combination of equity and debt. The equity financing will be provided by affiliates of Siris Capital Group, LLC ("Siris Capital") and the debt financing will be provided by a lender group led by Cerberus Business Finance, LLC.

Goldman Sachs & Co. is acting as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal advisor to Mitel in connection with the transaction. Guggenheim Securities, LLC is acting as financial advisor and Sidley Austin LLP is acting as legal advisor to Xura in connection with the transactions.

Monica Eaton-Cardone, co-founder and CIO of Global Risk Technologies, has been appointed to the advisory board of the Emerging Payments Association(EPA) for 2017.

The EPA is a commercial membership association of payments industry influencers, delivering projects to drive change and encourage innovation and profitable business growth. Advisory Board members are nominated and elected to the board based upon their experience and ability to lead and influence the payments industry.

Tony Craddock, Director General of the Emerging Payments Association, commented: “We are delighted to have Monica Eaton-Cardone join our Advisory Board. Her knowledge and expertise in payments, chargebacks, legislation and understanding merchant challenges will help drive the growth of the emerging payments industry. Our industry is one of the fastest-moving in the world and Monica will join international payment leaders in collaborating under the renowned EPA umbrella to help guide and shape the industry, creating a profitable, sustainable payments ecosystem.”

“The payments industry is moving at hyper-speed,” says Eaton-Cardone.  “In the blink of an eye, we’ve evolved into an international, global economy, with consumers all over the world unified by the Internet. Only through innovation and collaboration will we be able to help consumers and merchants buy and sell their goods and services safely, quickly, and free from fraud. I look forward to working with my colleagues in the industry to ensure the continued growth of safe payments worldwide.”

Eaton-Cardone has long been recognised as a thought-leader in payments and innovation, sought after by the likes of Money20/20 Europe and Forbes magazine for her insights. She won a 2016 Stevie Gold Award for Innovator of the Year for Women in Business. 

Global Risk Technologies is based in Ireland and provides cutting-edge, highly-scalable enterprise solutions and specialised consulting for chargeback compliance and dispute management. To find out more, visit www.globalrisktechnologies.com

Misys FusionInvest has been named the best investment management system by financial services professionals across the globe. Fighting off competition to top this category in the Banking Technology Reader’s Choice Awards 2016, Misys is celebrating the win as testament to the simple, fully integrated approach to all aspects of investment management that the solution delivers.

"Banking Technology’s readers have spoken – Misys FusionInvest has been named the best solution in the asset and investment management space,” said Tanya Andreasyan, Editor at Banking Technology. “Banking Technology and our worldwide community of banking, financial services and technology professionals congratulates Misys on this win."

The solution provides a flexible and modular platform for portfolio management, risk management and investment operations. It boasts unrivalled asset class coverage and a world-class analytics framework, with a real-time investment book of record (IBOR) at its core.  

“As generating alpha becomes increasingly hard in today’s market, investment managers are diversifying their portfolios by moving into new asset classes and strategies. Simplifying the complexity in operations is a must from an efficiency, cost and scalability perspective and technology provides the transformative catalyst,” said Boris Lipiainen, Global Head of Product Management at Misys. “This recognition of our solution by the industry is a real achievement and a triumph we are very proud of.”

Misys FusionInvest clients manage more than $5 trillion of global assets under management. Buy-side organisations typically experience between 15-20% revenue growth and 68-74% cost reduction in IT costs once the solution is fully deployed.

Temenos (SIX: TEMN), the software specialist for banking and finance, and Capgemini, a global leader in consulting, technology and outsourcing services, today released the results of Temenos’ ninth annual customer survey. This year’s report, entitled “Open for Business”, highlights the shifting attitude of banks towards open banking[1] as they seek to foster customer loyalty, the retention of which, the report identifies, is the top industry challenge. The report’s data reveals 69 percent of respondents see open banking as more of an opportunity than a threat compared to 50 percent a year ago. Open banking is also now viewed as a priority by 51 percent of respondents, up from just 30 percent a year ago.

To leverage the open banking opportunity, banks are realizing that they must capitalize on their vast stores of customer data and strong position of customer trust to become digital advisors to customers enabling them to make smart financial decisions and introducing them to a broader-range of services through third parties. The report findings also show that banks believe that capitalizing on data is not an easy task as it requires banks to bring together disparate data sets and real-time useful insights.  Data capitalization also is a chief topic for new regulation, such as the Payment Services Directive 2 (PSD2[2]), which will require European banks to share customer data with third-party providers.

“One of the clearest indications of how the banking industry is changing is in its shift to embrace open banking and to partner with the FinTech community,” said Anirban Bose, Head of Global Banking and Capital Markets, Capgemini. “With the potential to turn disruptions to business opportunities, open banking has evolved from a CIO/CTO discussion and is now a CEO and Board of Directors level topic.  The use of Application Programming Interfaces (PIs) to drive FinTech collaboration, in particular, provides ways to open up new channels, increase revenues and encourage innovation, all of which in turn, strengthen customer loyalty.”

Today, the use of cloud services is widespread in banking, especially for certain application types such as email (which more than 70 percent of institutions run in the cloud). For core processing however adoption is still much lower, at 5 percent, but now this is changing as banks’ concerns over data privacy and regulatory resistance continue to quickly diminish.

Correlating the Findings with Investment

As more and more banking services move to digital, it is not surprising that the survey found digital channels are the most commonly cited information technology (IT) investment priority at 24 percent, followed by product innovation (22 percent), and IT modernization (19 percent.)  IT budgets are forecast to be up strongly again in 2017, with the gap between technology leaders and technology laggards expected to widen to unprecedented levels since this banking survey was first launched. .

Ben Robinson, Chief Strategy & Marketing Officer at Temenos, said: “As last year, there was significant year on year change in our survey results reflecting the rapid pace of change in the industry. We are not surprised that banks are placing much more focus on data since analytics are key to delivering the right level of customer experience and regulations like PSD2 will up the ante in the fight for banks to hold onto customers. What is more surprising is that respondents see less of a threat from external players, suggesting they see a path through open banking to take advantage of the innovation coming from the FinTech sector to ward off the threat from internet platforms.”

To learn more, visit Capgemini’s World Retail Banking Report and the first edition of its World FinTech Report.

About the survey

For the past nine years, Temenos has conducted a comprehensive banking survey, covering areas such as banks’ corporate and IT priorities, their challenges, and their view of the competitive environment. Because the questions posed are largely consistent from one year to the next, our survey tracks how trends and attitudes have changed over time. Moreover, because the respondent sample is highly diverse, both in terms of types of banks and geographical location, the results give a broad view of banking sentiment.

This year’s survey canvassed the opinions of 235 senior bankers and the results are presented in association with Capgemini, a global leader in technology, consulting and outsourcing services.