On December 5, Diasoft opened a new office in Hanoi, Vietnam. This is a fully-fledged representative office of the company in this country.

Diasoft has been actively promoting its software products in the global market for the recent years. Establishment of a representative office in Vietnam is a logical step of the company global development strategy and is aimed at strengthening of the company's positions as an international vendor. The main goal of the Hanoi office is to make the company closer to its customers and support Diasoft's projects in Vietnamese banks.

The established Representative Office will support Diasoft`s ongoing project at TP Bank, one of the leading commercial banks in Vietnam. The bank selected FLEXTERA components – FLEXTERA Loan Origination and FLEXTERA Debt Collection – to create a comprehensive credit workflow system. The components are to be integrated with the bank's CRM, core banking and processing solutions.

Diasoft has built a significant expertise and achieved great success at international markets. The company's achievements have been recognized and highly appraised by the leading international market surveys and ratings (Gartner, IDC, FinTech, Forrester, etc.). Diasoft has also been recognized as the “Best Core Banking Solutions Provider South Asia 2015” by Global Banking and Finance Review. Within its global development strategy, the company plans to establish representative offices in other Asian countries.

 Mahindra Comviva, the global leader in providing mobility solutions, has released “The Business of Tomorrows” survey report. The survey was carried out in collaboration with Mobile World Live, an online communication hub for the global mobile industry.  Operators across various segments, including the overall industry landscape, mobile payments, 5G, content, customer analytics and mobile broadband were surveyed. The report provides in-depth analysis of the impact of current and emerging new technologies on the wider telecom ecosystem

As per the survey, IOT holds tremendous potential, For 75 per cent of respondents, IoT will drive growth for the internet space in the future,.  For 32 per cent of respondents, smart city deployment could emerge as the biggest usage case for 5G, enabling cities around the world to connect to various types of infrastructure and amenities. 

Customer Experience Management will form an integral part of this strategy too, as identified in the survey. There is also a strong likelihood that operators will start to invest, or step up their interests in solutions that monitor how people are dealing with an ongoing transformation. 63 per cent of respondents expected to invest in proactive customer experience, due to the rise of predictive, descriptive and prescriptive analytics.    

As per the survey, there is no clear winner in the mobile payments space. A number of segments have emerged in the field, and while technology continues to evolve, financial inclusion for the masses must remain the key benefit and priority.

Commenting on the study Manoranjan Mohapatra, CEO, Mahindra Comviva said, “Fueled by booming demand for mobile data, the opportunities in the digital content and mobile financial services and under pinned by the promise of 5G, operators clearly have a major role in shaping the Business of Tomorrows driven by new technologies adoption leading to innovations and growth. We are committed to work in this ecosystem to drive future readiness of the operators, leading to the next level industry transformation.”

The reports also stresses that considering the huge scale, and additional benefits, mobile services can provide, mobile broadband needs to be made more affordable to truly achieve global scale and mass adoption.

There remain numerous challenges, though. As per the survey, operators will need to fine tune their strategies to address challenges like affordability, CAPEX and OPEX related issues, customer retention, and a comprehensive strategy to cash in on the data opportunity

The full survey is available for download on Mahindra Comviva website at: https://mahindracomviva.viewpage.co/TBOT_survey

Commerce Bank (Commerce), a wholly owned subsidiary of Commerce Bancshares, Inc. (NASDAQ: CBSH), and Temenos (SIX: TEMN), the software specialist for banking and finance have announced that they have signed an agreement in which Temenos will provide to Commerce its world-class core deposit banking system. With Commerce’s selection of the Temenos platform, the bank will acquire a new, innovative, real-time core processor to drive strong customer relationships and faster speed-to-market of consumer and commercial products.

David Roller, Chief Information Officer, Commerce Bank said: “Commerce invests in our people and technology to deliver innovative solutions and convenience for our customers.  The Temenos solution will enable Commerce to bring innovative products to market more quickly and efficiently.  The modern software architecture and real-time features will provide the foundation for our digital business.  Temenos has the people, culture, and technology to fulfill our vision, which is why we’ve chosen them as our strategic technology partner.”

Commerce has received industry recognition for its strong financial performance, innovative products and focus on customer service.  The bank selected Temenos’ customer and deposits platform to power portions of its retail, commercial and private banking lines of business. By selecting Temenos, Commerce is aligning itself with over 2,000 financial institutions using Temenos technology throughout the world. Commerce will deploy the US Model Bank, a pre-configured and packaged version of Temenos’ market-leading core banking software that incorporates functionality to handle US-specific regulations and services.

Jay Mossman, President & CEO of North America, Temenos, commented: “We are honored to be working side-by-side with Commerce in this initiative to transform core processing at the bank. While this marks a major milestone for Temenos, we are embarking on this endeavor with Commerce as strategic partners, both aligned in our vision for innovative technology to deliver a superior customer experience.”

David Arnott, Temenos Group CEO, added: “This is a highly strategic win for Temenos. We have great ambitions for the US market, which is undergoing the same digital shift as the rest of the world. In this deal, Commerce thoroughly evaluated our platform against the large incumbent technology providers and judged our value proposition to be superior. In particular, the bank was impressed by our advanced technology as well as by our US Model Bank, which allows the same award-winning platform that is used by hundreds of banks across the world to also work in a completely pre-configured way for US customers. On the back of this win, we see the potential to build significant market share here in the US.”

 FIS^™ (NYSE: FIS), a global leader in financial services technology, and PayPal (NASDAQ: PYPL) have partnered to increase customer engagement and drive incremental digital spend with FIS’ banking partners.

Together, the companies will make it easy for consumers who bank with FIS clients to link a payment card or other financial account to a new or existing PayPal account, and simply display the financial institution’s brand within PayPal. The partnership also will allow those financial institution customers to set their default funding source in PayPal, thus increasing their overall digital spend.

“As this year’s record levels of sales on Black Friday and Cyber Monday showed, digital commerce is showing no signs of slowing down,” said Anthony Jabbour, chief operating officer, Banking & Payments, FIS. “By enabling the bank branding within the checkout process with PayPal through account linking, a financial institution can remind its customers of the ease with which they can shop, and make them more likely to use that particular account and to increase spend. It’s a win for consumers and financial institutions, alike.”

“This agreement with FIS is another great example of how partnership is driving increased value to PayPal’s merchants and consumers, reaching thousands of banks in the U.S, with one simple integration that gives people better ways to transact digitally,” said Gary Marino, chief commercial officer, PayPal. “We look forward to building on our long-standing relationship with FIS to continue to create meaningful digital payment experiences for consumers, issuers and merchants online, in app and in store.”

FIS and PayPal will provide a more seamless way for bank issuers to drive more digital spend with their customers through PayPal accounts. FIS will enable PayPal’s account linking capability, making it easy for customers who bank with FIS clients to add their various cards and banking accounts into their PayPal accounts. This will give greater visibility to their bank accounts and their PayPal accounts within their online banking sites.

Avidia Bank and the 15 chartered banks of Wintrust Financial, two FIS clients, will premiere account linking in the first quarter of 2017. It will be available to all FIS clients beginning in the first half of 2017.

Avelacom has completed a new segment of DWDM network, designed to be the lowest latency route between London – Moscow. The project includes deploying 900 km of terrestrial fibre and three new points of presence (PoPs) across Europe: in Amsterdam, Bremen and Helsinki. The backbone is connected to Cinia’s C-Lion cable in the Baltic sea and Avelacom’s fiber network in Russia. The latest update helps to achieve sub-35 millisecond latency (round-trip delay) London to Moscow. London – Moscow has always been one of Avelacom’s flagship routes. In 2011 the company first launched its transit network in Europe resulting in best-in-market round-trip delay – 37,1 milliseconds. The link was mainly used for providing services to capital market companies looking to gain lower latency connectivity, market data delivery and order flow to trade between Moscow Exchange and European financial venues.

Aleksey Larichev, Managing Director of Avelacom, said: “Latency is a hot topic among capital market firms. Our recent upgrade cuts up to two milliseconds off to help to support and optimize low latency trading between Europe – Russia. It also leverages access to further markets in Southeast Asia, lowering latency to Tokyo and Shanghai accordingly. Our network testing shows outstanding results: deterministic latency profile, no latency spikes. These are key characteristics for high-performance trading infrastructure.”

• 15.12.2016 -- 01:26 pm

Adrian Black, Founder and CEO of Contego, speaks with Financial IT about KYC and biometric verification at FinTech Connect Live 2016.

• 15.12.2016 -- 11:19 am

Rasmus Groth, Founder of  Veridu, speaks about fraud detection and KYC at FinTech Connect Live 2016 in London.