Switzerland-based digital payment software company SecurionPay has announced the release of their latest technology, “Cross-Sales”: a way for online businesses to significantly boost their sales by engaging with customers immediately after the checkout process and offering products or services directly related to the shopper’s initial purchase.

If a business happens to sell laptops, for example, they might offer anti-virus protection, or a smartphone vendor might encourage accessory add-ons like protective cases or headphones.

The company’s signature software enables businesses to quickly and easily implement card payment services on their websites and mobile apps. Now, SecurionPay is setting their sights on becoming Europe’s answer to Stripe -- the San Francisco-headquartered software platform currently processing billions of dollars per year for thousands of businesses, including Kickstarter and Salesforce.

SecurionPay is following in Stripe’s footsteps, setting out to revolutionize the European online payments market by helping merchants registered across the region boost conversions, improve their site’s user experience, decrease shopping cart abandonments, and create all around win-win relationships between businesses and consumers.

“If you’re operating in the online retail space in the twenty-first century, it really is a no-brainer that if you’re not delivering an exceptional user experience or navigable interface, you can bet your customers will go elsewhere, and your bottom line will suffer as a result,” said SecurionPay Co-Founder & CEO Lucas Jankowiak. “We designed SecurionPay as way for eCommerce and other online business players to easily provide that value while giving their team end-to-end control over the entire shopping process.”  

From startups to well-established enterprises, SecurionPay gives businesses the ability to process card transactions worldwide. Their checkout software accepts payments in 160 different currencies, and can automatically recognize and translate 23 different languages. By centralizing the entire transaction process right on the client’s page, SecurionPay eliminates the need to redirect visitors to third party websites to complete transactions -- a common nuisance that often leads to shoppers leaving their items at the checkout counter and walking away empty-handed.

An intuitive, user-friendly drag-and-drop process makes it easy for programming novices to integrate the SecurionPay API into their payment processing platforms. More seasoned developers can customize the payment gateway and add extra features with just a few simple lines of code.

The recent addition of the company’s new Cross-Sales feature presents the team with an opportunity to gain a stronger foothold in the European market by providing further value to online merchants. And it appears to be working well so far.

The company reports clients enjoying average conversion increases of around 20%. And with the ability to create offers that other SecurionPay merchant partners can push on their website, the Cross-Sales feature represents a mutually-beneficial asset for companies who offer only a limited number of products or services.

When asked about the timeliness of bringing SecurionPay to the European market, Jankowiak said, “While it will be a gradual process, it’s undeniable that digital payments will eventually replace the traditional methods we’re all accustomed to. We want to make sure you’re not only doing it right, but doing it really well. Because when you are, not only will your customers appreciate and thank you for it, but your business will flourish.”

The SecurionPay team is inviting those interested in learning more about how they can improve their website’s user experience and increase their conversion rate to visit their website.

Three weeks after we launched Spending on Android, we’re very excited to release another huge update to the Monzo Android app. Payments!

Asset Control, the leading provider of financial data management solutions, has been awarded ‘Most Innovative Third-Party Technology Vendor – Communication, Operations and Data Management’ by the American Financial Technology Awards 2016, hosted by WatersTechnology.

The American Financial Technology Awards (AFTAs) recognise excellence in the deployment and management of financial technology within the asset management and investment banking communities. Asset Control was selected asMost Innovative Third-Party Technology Vendor – Communication, Operations and Data Management in recognition of its 100% commitment to innovative development techniques and operating models to deliver market leading products and services to its clients.

Asset Control was officially presented with the award at a ceremony hosted by WatersTechnology on Monday 5^th December 2016 at The Marriott Marquis, Times Square, New York, NY. Asset Control was selected from amongst a record number of entries in 2016, with the standard of entry noted as “incredibly high”.

Upon receipt of the award, Mark Hepsworth, CEO of Asset Control, commented: “We are really honoured to have our innovation and hard work recognised by the prestigious American Financial Technology Awards. We have worked on a number of new products and enhancements in the last couple of years to help clients deal with risk, pricing and reference data more effectively and we appreciate this recognition. Our industry continues to change rapidly but we believe we have a clear and updated vision for the future of data management to help clients operate their businesses more efficiently, and handle incoming regulations and other industry trends.”

“Congratulations to Asset Control on winning the award for Most Innovative Third-Party Technology Vendor- Communication, Operations and Data Management. The company has shown a clear vision regarding data management and a highly collaborative approach to ensure that its clients achieve value from their investment,” added Victor Anderson, editor-in-chief, Waters and WatersTechnology.

GoldenSource, the leading independent provider of Enterprise Data Management (EDM) and Master Data Management (MDM) solutions for the securities and investment management industry, has launched a new data management solution for the Fundamental Review of the Trading Book (FRTB).

Coming into force on January 1st 2019, FRTB is a prescriptive set of rules which force banks to calculate how much capital to set aside to protect themselves when prices fall sharply.  The GoldenSource solution pulls together market, position and risk data, ensuring that FRTB calculations are fully auditable and more efficient to carry out. 

A key component of the solution is a curve-shift methodology, which uses risk sensitivities to give risk and finance officers the ability to deliver different types of control and regulatory calculations. The essence of the approach is the assumption that most of these calculations can be viewed as the quantification in P&L or capital terms of differences between two market data points.  For example, a bank may well have a portfolio of interest rate positions with exposures at different points along a tenor structure. At each point of the curve, banks can deliver IPV, prudent valuation, P&L attribution, reserving and FRTB calculations by quantifying the impact of the difference between two curves, whether those curves are measured in basis points, volatility points or credit spreads.

Charlie Browne, head of Market Data and Risk Solutions division at GoldenSource said: “The intricate detail underpinning FRTB will make calculating market risk capital charges far more burdensome. The challenge is that most of the calculations require the marriage of market and risk data, which historically, banks have struggled to achieve without introducing data error. This is why the foundation of our new FRTB offering was the integration of our market data and risk solutions for multiple data sets, including who the contributor of the market data is, its sensitivity, and exactly when it was distributed.”

The GoldenSource FRTB solution, which is available to banks from January, comprises pricing connections and standardised and IMA calculations and reports. The solution is an application of RiskHub, its risk data management and analytics capabilities, combined with GoldenSource EDM, its data management suite, version 8.7 of which was released in September.

• 06.12.2016 -- 08:50 am

Financial IT speaks with Tristan Blampied, Senior Product Manager, Pelican at Sibos 2016.

NYMBUS Inc., a provider of the world’s most current mission-critical core banking technology, today announced CHROME Federal Credit Union selected NYMBUS SmartCore to help the company realize its digital-first transformation. NYMBUS will enable CHROME to deliver compelling, modern digital services – from secure online and mobile banking, to rapid digital on-boarding, lending, and remote deposit capture – to its more than 18,000 customers nationwide.

CHROME, formally Washington Community Federal Credit Union, is in the process of transforming its business to a digital-first credit union, addressing the rapid shift in consumers’ needs and growing competition from outside the financial services industry.

“A critical pillar of our transformation is redesigning the holistic digital experience for our customers,” said Christopher George, president and CEO, CHROME. “The role of the branch and digital services is reversing, and we needed a trusted partner that shares our vision, creativity and urgency. NYMBUS’ core banking platform is years ahead of the legacy vendors that have traditionally owned the market. Until now, the only option for financial institutions had been to move from one legacy platform to another. After a two- year search, NYMBUS SmartCore was the only selection by far to help CHROME achieve its business plan of reaching $500 million in assets by 2020.”

The core banking platform is the most important technology of any financial institution. NYMBUS SmartCore is a full-stack core banking platform that unifies all the required functions in one system with one data set. This allows CHROME to automate and simplify workflows, while modernizing existing software and hardware infrastructure. CHROME is assigned its own dedicated private cloud, ensuring the highest levels of security as well as compliance with the latest industry standards in a faster, easier and most affordable manner. Additionally, SmartCore quickly and seamlessly integrates with CHROME’s third-party partners Geezeo, MeridianLink, Zendesk, and dozens more, providing additional value while improving the customer experience.

“NYMBUS and CHROME have a shared vision of the modern customer experience. CHROME is at the forefront of innovation and together we believe we’ll be able to enhance that experience, add customer value, and help drive business growth,” said David Mitchell, president & chief revenue officer at NYMBUS.

Scott Sharp, chief operating officer at NYMBUS, continued, “CHROME’s business transformation is an industry best practice for how consumers experience and relate to a brand and its services, offline and online. We’re honored CHROME has entrusted NYMBUS to handle the wide range of digital functions and scalability required to realize its business plan.”

• Case Studies
• 30.11.2016 10:38 am

Branch banking is the fulcrum of banking activity. But with the growth of alternate banking channels and steep overheads banks are severely challenged to maintain branches. They are constantly exploring ways to optimize branch costs while rethinking their customer engagement strategy. In the highly competitive financial services market, it is now imperative for banks to provide superior, consistent and effortless customer experience at the physical branch level touch points.

Path Solutions, a global provider of cutting-edge software solutions for the Islamic financial services industry today announced that the panel of judges for KLIFF Islamic Finance Awards 2016 has selected Path Solutions as a recipient of the ‘Most Outstanding IT Company for Islamic Finance’ award.

For the past 12 editions of KLIFF Islamic Finance Awards, many outstanding individuals and institutions in the field of Islamic finance have been honored and recognized for their contribution and significant efforts in developing the Islamic finance industry.

“We’re tremendously pleased that KLIFF has identified Path Solutions as ‘Most Outstanding IT Company for Islamic Finance’ for the second consecutive year. Over the past 25 years, Path Solutions has built an unbeatable record of success delivering advanced technologies for the Islamic financial services sector, and we will continue to focus on execution and differentiate ourselves in the marketplace”, commented Mohammed Kateeb, Group Chairman & CEO of Path Solutions. “Considering the current economic climate, it is truly remarkable to be able to innovate, prosper and grow in the way we have done. Regulations, competition, customer demand, and innovations are driving fintech evolution at an incredible pace. We can’t always predict the future, but we assure our clients and partners that we are always ready for it”.

Held in conjunction with the 13^th Kuala Lumpur Islamic Finance Forum (KLIFF 2016), the KLIFF Dinner & Industry Awards Presentation took place on Monday 21 November 2016 at Hotel Istana in Kuala Lumpur, Malaysia in the presence of Y.B. Dato’ Othman Abdul Aziz, Timbalan Menteri Kewangan I, and local and international bankers, lawyers, financiers, practitioners, and academicians. 

The inaugural Scottish Cyber Awards have taken place and the successful ceremony has seen an Edinburgh firm land the award for International Contribution to Cyber Security. Edinburgh-headquartered ZoneFox were announced as the winners in the category after also scooping the Champion of Champions award. Speaking at the ceremony, James Graves, Chief Executive of ZoneFox, believes it is an honour to have received such prestigious new awards.
 
He said: “It was a great night for the industry and everyone in the room, not just the winners. We absolutely loved it and it was a real opportunity to discuss with fellow professionals and get out there to show what we have achieved.

“It’s been a cracking year so far for us, having grown significantly abroad, especially in the United States and both award wins were really the icing on the cake.

James added: “The whole night was completely motivational for our team and has given us further drive to repeat our success and keep the momentum going.”

The awards, hosted by the Scottish Business Resilience Centre and supported by Scottish Enterprise and PwC, set out to mirror the excellent work of the IT sector in Scotland – with ground-breaking work taking place at major organisations, by individuals in the education sector, as well as within Scotland’s many fast-moving smaller firms.

Chief Executive of the SBRC, Mandy Haeburn-Little, was thrilled with the ceremony and the buzz around the awards.

She said: “The night was a superb showcase of talent in what is a growing and increasingly vital part of the Scottish economy as the threat of cyber crime impacts every single person.

“Scotland has a proud history of innovation and we are making great strides to continue this tradition by becoming an international leader in cyber resilience - and to seize the opportunities that being at the forefront of cyber security can bring to our nation.

“The launch of the first Scottish Cyber Awards was a perfect platform to showcase and celebrate the great work that is happening in Scotland.

“We’d like to thank everyone that entered and attended the awards and made it the success it was. We hope it’s the start of something special for years to come.”

The event, which enjoyed huge interest and demand and benefitted from a packed attendance, was held at the Waldorf Astoria Hotel in Edinburgh, with other categories including: ‘Outstanding Woman in Cyber’, ‘Community Impact Award’ and ‘Cyber Teacher of the Year.’

Colin Slater, partner and cyber security lead in Scotland for award sponsor PwC Scotland, said: "Firstly congratulations to all the winners. There's been an incredibly strong body of work put across not only by the finalists but all of the entrants. It's reassuring that while cyber security may be a nascent sector in Scotland, it has a strong bedrock to build from in the future. That's comforting, not only as someone with a passion for the field but also as someone who uses digital services and has concerns about the risks and security of these services. 

"We need people like the entrants not only to raise the standard for those who follow but to be the ambassadors, encouraging interest and adoption at all levels - from the average person in the street to the C suite. Cyber security is only as good as its weakest point and together we can make that weakest point a tougher nut to crack.

"Scotland can show the way in cyber security and organisations like Scottish Enterprise and the SBRC are to be praised for their efforts in not only raising awareness but also in what they are doing to offer solutions to those out there. This event is just one part of how Scotland can continue to shine a light in this field to help others across the globe."

Cyber crime continues to be a massive concern in Scotland, costing an estimated £3bn every year. As the first awards to recognise Scotland’s ever-growing reputation as a world leader in countering the threat of cyber crime, the Scottish Cyber Awards will seek to showcase Scotland’s commitment towards the cyber security excellence and acknowledge the place Scotland has within this industry.

Scottish Enterprise (SE), Scotland's main economic development agency, were supporting this event as part of their Cyber Security Network Integrator project. SE aims to deliver a significant, lasting effect on the Scottish economy by identifying and exploiting the best opportunities for economic growth.

Kim Robertson, Project Manager for Sector Delivery at SE said: “Cyber crime continues to be a massive concern in Scotland - costing an estimated £3b per year – and its importance is reflected in the Scottish Government’s national Cyber Resilience Strategy which was launched this time last year. “

“Well done to all the superb winners and impressive nominees - their track record in innovation demonstrates Scotland’s position as a leader in cyber resilience technology. Scottish Enterprise is proud to have supported this event - it is significant, not just because of the pivotal role that cyber resilience plays in the security and health of all businesses, across all sectors, but also because of Scotland’s role at the forefront of cyber technology.”

The awards were timed around the anniversary of the launch of the Scottish Government’s national Cyber Resilience Strategy, which enshrined the ambition that Scotland should become a lead nation for cyber resilience. The ceremony will also become a core part of an ongoing cyclical programme of cyber activity including an annual cyber conference and the well-established Christmas lectures for schools.

SBRC is taking forward the scoping of the concept of a cyber hub for business in Scotland which would act as one trusted source of advice and cyber security services at an affordable cost.