Subsequent to CustomerXPs’ Clari5 being voted Best Fraud Detection Product at the Annual OpRisk Awards in London in June 2016, Kris Finsoftware and CustomerXPs have announced a customized version of the acclaimed product available directly to banks in Asia Pacific to meet their specific requirements. Kris Finsoftware and CustomerXPs have been collaborating extensively on product customization for Asia Pacific’s key countries and have incorporated significant changes in the customized product based on specific market intricacies.

This announcement comes in the wake of banks in the Asia Pacific region witnessing a spate of serious and sophisticated fraud. With the frequency of instances on the rise, banks have begun actively exploring innovative cross-channel real-time fraud management products, given the flaws and inadequacies of conventional channel silo-based products.

Meanwhile there has been decisive action by Central Banks in the region to further mitigate vulnerability and implement stronger lines of defense, the most recent by Singapore's central bank, MAS. MAS announced a new anti-money-laundering department after it ordered the local arm of a Swiss bank to shut down operations in relation to a laundering and bribery probe. The nature of sophisticated frauds and the current situation both demand that banks look beyond mere regulatory compliance and consider unconventional approaches to tackling financial fraud.

Built to meet the cross-channel fraud detection, investigation, prevention, monitoring compliance and audit needs of banks, CustomerXPs’ flagship product Clari5 differentiates itself by using a 'human brain like' approach to fraud and implements a 'central nervous system' that pollinates data from across the bank's systems to deliver true, real-time intelligence.

Clari5 has been transforming Fraud Management and Customer Experience Management in Fortune 500 banks by harnessing the power of extreme real-time intelligence. Besides the OpRisk recognition Clari5 was also very recently positioned as an Enterprise Solution by premier analyst firm Chartis in the 2016 RiskTech Quadrant for Enterprise Fraud Technology.

Kris Finsoftware's experienced banking technology veterans provide innovative solutions to marquee banks in Asia Pacific, With offices in Singapore, Philippines, Australia, Indonesia and Vietnam, Kris Finsoftware has a strong presence in the region. Kris Finsoftware's extensive Fintech experience coupled with Clari5's proven product capability makes it a compelling proposition for banks in the Asia Pacific region to adopt a proven solution that helps them confidently drive their anti-fraud and AML strategy.

Rivi Varghese, CEO, CustomerXPs said, " With more than 250 mn accounts passing through us daily at some of the world’s largest implementations, we have emerged category leaders for real-time cross-channel Enterprise Fraud Management for banks. Our differentiated ‘human brain’ based cross-channel approach and our 100% implementation success when combined with a highly localized product ensures Asia Pacific banks can expect to go live very quickly."

Krishan Grover, CEO Kris Finsoftware added, "We are extremely pleased to work with CustomerXPs, one of the best companies globally to help Asia Pacific banks with state-of-the-art technology and strong delivery capability to meet the growing threats posed by money laundering and fraud that threaten their very existence."

Analytics software firm FICO announced that Crédit Agricole Consumer Finance (CA CF), a leading player in consumer credit in Europe, has seen excellent results using FICO technology to manage customer credit decisions. CA CF deployed FICO® TRIAD® Customer Manager in May 2003 to automate collections and recovery decisions for its entire revolving credit portfolio, handling about 200,000 unpaid debts per month. FICO TRIAD Customer Manager had been used successfully at Sofinco, a commercial brand of CA CF in France, for many years, leading to a 30 percent increase in collections productivity.

CA CF provides a wide range of lending products and associated services to consumers, and operates in France principally through the brands Sofinco, Viaxel and Creditlift Courtage. By upgrading its version of FICO TRIAD Customer Manager, CA CF has been even more targeted in its choice of the best treatment for overdue consumers.

"Upgrading FICO TRIAD from version 6 to 8, we can use twice as many decision variables and 10 times as many scenarios, which allows us much greater flexibility in our strategies," said the operations administrator for collections at CA CF Crédit France.  "We will shortly deploy FICO TRIAD on the complete revolving credit customers, which we expect will improve productivity in the whole collections business. We will also benefit from communicating with each customer in a holistic fashion, regardless of the number of records he or she has in our company.”

"FICO TRIAD enables lenders to understand their customers’ risk better, and take more effective treatments across a wide range of decision areas," noted Jean-Michel Schneider, director of FICO France. "CA CF are using TRIAD to perform true customer-level collections, which will help them collect more while improving customer communications."

With FICO® TRIAD® Customer Manager, credit grantors can test, automate and improve decisions for credit and debit cards, deposit accounts, loans, auto financing and other credit products. Credit and deposit risk managers and other users can measure customer risk with predictive analytics, set up targeted risk-based strategies, automate a host of decisions using these strategies, and test new "challenger" strategies against their current "champions" to continually improve results.

FactSet, a leading provider of integrated financial information and analytical applications, has been named the “Best Data Analytics Provider” of market data, research and analytics in the 2016 annual rankings announced by Waters Technology, a division of Incisive Media. FactSet was also honored with the “Best Research and Analytics Tool” award at the annual Systems in the City Awards presented in London by Goodacre UK, a leading securities industry consultancy.

The awards add to a growing list of achievements for FactSet this year, including “Best Research Provider” and “Best Analytics Provider” by Inside Market Data/Inside Reference Data in May and earning a spot for the eighth time as one of Fortune’s”100 Best Companies to Work For”. 

“These awards are significant recognition for FactSet by our clients and industry peers,” stated Phil Snow, CEO, FactSet. “Our clients are experiencing rapid change as a result of the evolution in the financial markets. FactSet delivers industry-leading analytics, service, content, and technology to help them adapt and succeed.”

Victor Anderson, editor-in-chief at Waters and Waters Technology, said, “The award for ‘Best Data Analytics Provider’ recognizes the depth and breadth of FactSet’s data management, research and analytics tools that investment professionals rely on in today’s complex, interconnected global markets.”

Stephen Pinner, Managing Director of Goodacre UK said, “FactSet won the award for the ‘Best Researchand Analytics Tool’ for the quality of its research management solutions. These offer opportunities for more effective and timely research to firms across all asset classes.”

MasterCard Incorporated (NYSE: MA) today announced that it has entered into a definitive agreement to acquire 92.4 percent of VocaLink Holdings Limited for about £700 million (approximately US$920 million), after adjusting for cash and certain other estimated liabilities. VocaLink’s existing shareholders have the potential for an earn-out of up to an additional £169 million (approximately US$220 million), if performance targets are met. This transaction is subject to regulatory approval and other customary closing conditions.

Under the agreement, a majority of VocaLink’s shareholders will retain 7.6 percent ownership for at least three years.

Based in London, VocaLink operates key payments technology platforms on behalf of UK payment schemes, including:

·         BACS – the Automated Clearing House (ACH) enabling direct credit and direct debit payments between bank accounts

·         Faster Payments – the real-time account-to-account service enabling payments via mobile, internet and telephone

·         LINK – the UK ATM network

In addition, VocaLink offers innovative products with global potential, including ZAPP, a mobile payments app that leverages Fast ACH technology, and licenses its software and provides services to support ACH activities in Sweden, Singapore, Thailand and the United States. In 2015, the company reported revenues of £182 million as it processed more than 11 billion transactions.

This acquisition accelerates MasterCard’s efforts to be an active participant in all types of electronic payments and payment flows and to enhance its services for the benefit of customers and partners. It will allow MasterCard to play a more strategic role in the UK payments ecosystem, while bringing the innovation and knowhow from across the globe back to VocaLink’s home market. The result will be even more choice in how consumers, merchants and governments make and receive payments.

“We’re excited about the opportunity to play a bigger role in payments in the UK, a very strategic market for us,” said Ajay Banga, president and CEO, MasterCard. “VocaLink is a unique company with outstanding technology, assets and people. We look forward to investing in and maximizing the technology, and embedding it in our products and solutions, both in the UK and around the world.”

VocaLink supports and expands the products and services MasterCard offers issuers, governments and merchants, giving them even more relevance and touchpoints with the end consumer. It will be the first true combination of the traditional person-to-merchant cards business with a clearing business, which when fully developed, presents an additional opportunity to make a deeper and sustained shift from the use of cash and cheques in business, government and personal payments.

“Today’s announcement is positive news for our partners, customers and employees,” said David Yates, CEO, VocaLink. “We will continue to focus on ensuring that the UK systems perform seamlessly, maintaining the highest levels of quality. At the same time, we’ll invest in further innovation to power competitive payments solutions for consumers and businesses around the globe.”

Upon closing of the transaction, Yates will join the MasterCard management committee.

MasterCard expects the transaction to be dilutive for up to 24 months after the deal closes. If the deal closes in early 2017, the company currently estimates the transaction would be 5 cents dilutive to each of 2017 and 2018 earnings per share. The dilution would be due to continued levels of new product investment, transaction and integration costs, as well as amortization of intangibles.

At 9:00 a.m. ET today, the company will host a conference call to discuss the transaction. The dial-in information for this call is 866-393-4306 (within the U.S.) and+1 617-826-1698 (outside the U.S.) and the passcode is 54162246. A replay of the call will be available for one month and can be accessed by dialing 855-859-2056 (within the U.S.) and +1 404-537-3406 (outside the U.S.) and using passcode 54162246.

The live call and the replay can also be accessed through the Investor Relations section of the company’s website at www.mastercard.com/investor. Presentation slides used on this call are also available on the website.

 Path Solutions, a leader in Islamic banking software solutions and services, is proud to announce that it was named ‘International Core Banking System Provider of the Year – Islamic Finance’ for the third consecutive year at the ACQ5 Global Awards 2016. Hot on the heels of this recognition came a second accolade, also from ACQ5 for the company’s iSHRAQ*Microfinance solution which has won the same category last year.

“Having assessed the votes that have been cast by industry peers, Path Solutions is an ACQ5 Global Awards 2016 category winner”, declared Jake Robson, Editor at ACQ5. “We boast a legitimately independent nomination process. Most importantly, our award winners are chosen by the industry itself. Every year, we seek their assistance in recognising industry leaders and distinguished firms, which we believe represent the benchmark of achievement and best practice in a particular field, and every year, we turn to our readers to help as we strive to recognise an ever-widening spectrum of industries and segments. Voting closed on March 31^st, 2016. The total number of nominations received stood at an amazing 75,246 nominations, our highest ever. We are pleased to confirm that Path Solutions received the highest number of nominations in two categories in 2016 which clearly reveal that Path remains the undisputed leader in the Islamic software industry”, he concluded.

The ACQ Global Awards program was founded to empower end users to make smarter, more confident business decisions. These long established and internationally respected awards celebrate achievement, innovation and leadership and seek to promote high industry standards in their annual program.

“Path Solutions’ commitment to developing innovative Islamic banking technologies is rooted in its 25 year history. We are extremely happy to have won these prestigious awards as it is the industry’s endorsement for all of our pioneering work. We are particularly proud to be given another recognition alongside longer-established institutions”, commented Mohammed Kateeb, Path Solutions’ Group Chairman & CEO. 

Path Solutions is at the forefront of the Islamic financial software services industry. The company offers the industry’s widest range of software solutions and services to Islamic banks and Islamic financial institutions addressing all their operational requirements.

Path Solutions offers a differentiating proposition second to none - the combination of a deep knowledge base in the field of Islamic finance with software solutions developed in-house - that is indigenous to the Islamic finance community and unique to Path Solutions.

The ACQ5 Global Awards 2016 list of winners will feature on internationally recognised digital media platforms during 2016 including TIME, Bloomberg Business, CNN, BBC and The Sunday Times.

The winners of ACQ Global Awards 2016 will automatically be indexed within the soon-to-be-released ACQ5 Global Awards 2016 supplement.

CoInvestor, the new alternative assets platform for sophisticated private investors, has announced a wave of senior appointments to strengthen its Board and Advisory Board, and help guide the business through its early stage growth as it seeks to transform the alternative asset investment landscape in the UK.

Launched in December 2015, CoInvestor’s first-of-its-kind online platform enables private investors to build their own portfolio of direct investments by co-investing alongside experienced fund managers on a deal by deal basis. The platform has already attracted top fund managers including Oxford Capital and MMC Ventures, and has just signed a new partnership with Chelverton Asset Management. Further new managers are expected to be announced shortly.

As part of the changes, Matthew Peacock, Founding Partner at Hanover Investments, joins the Board as Non-Executive Chairman, bringing with him a wealth of experience in unlisted and listed company growth and M&A.

Peacock has previously led a series of successful growth investments as a lead shareholder and CEO and, since founding Hanover Investments in 2002, has led the change management requirement of numerous public limited companies, giving him extensive knowledge in advising businesses.

Sam Plumptre, an existing Board member, has now been appointed as CEO of CoInvestor in order to support Founder, Charles Owen, in the management of the business.

An ex-fund manager and corporate financier with extensive experience advising, investing in and starting growth companies, Plumptre has previously worked as a fund manager at Livingbridge, co-managing the listed investments for the Baronsmead VCTs and Wood Street Microcap Fund, and in investment banking for Société Générale and Evolution Securities.

Jonathan Polin, Group CEO of Sanlam (UK), who is an early stage investor in the company, joins CoInvestor as an Advisory Board member. Polin brings a strong understanding of the wealth management sector which will be instrumental in helping structure the platform to work closely with financial advisers, providing them with a solution to gain and retain clients who are increasingly looking for higher risk and more complex investments.

CoInvestor has also just completed a recent funding round with new shareholders including two corporate investors; FinnCap, the leading adviser to ambitious growth companies, and a London merchant Bank. The new funding builds on pre-existing capital raised from a range of sophisticated industry investors who fully support the long-term growth ambitions of the business.

Charles Owen, Founder of CoInvestor commented: “We’re delighted to have attracted such experienced advisers in Matthew and Jonathan to the Company, and to have raised further investment capital from a wide range of industry relevant investors. Their combined extensive knowledge of the investment and wealth management sectors will greatly enhance our ability to evolve the platform to the benefit of fund managers and financial advisers, as well as the private investors themselves.

“Sam’s first-hand knowledge of the fund management industry, combined with his entrepreneurial experience and attitude will significantly add to the operation of the CoInvestor model as we target growth of both our fund manager and investor base during these early stages.”

Matthew Peacock commented: “I’m delighted to become Chairman of CoInvestor at this exciting phase of development. There is a genuine need for a solution like this within the traditional investment landscape which has undergone significant change since 2008. I look forward to guiding the business through rapid growth in our bid to establish a ‘new normal’ way of investing for private investors and fund managers alike.”

GoldenSource, the leading independent provider of Enterprise Data Management (EDM) and Master Data Management (MDM) solutions for the securities and investment management industry, continued its expansion today with the opening of a new Paris office. The office will help serve GoldenSource’s growing European client base and will be headed by Eric Bassot, who will be responsible for business development in the region.

The addition of Paris complements the company’s existing offices in London and Milan, supporting clients across the Benelux, Denmark, Germany, Italy, Russia, Spain, Switzerland and UK. The opening marks the latest stage in GoldenSource’s investment programme, and comes at a time when clients are seeking further support to help them comply with regulations and on-board new clients.

Eric Bassot, Senior Sales Manager for the region said: “This is an exciting period for GoldenSource as we embark on this latest phase of our growth plan. It’s important for our growing number of clients in the region that we have local support in place. As Europe enters a period of change, our job is to ensure clients have clean, consistent and audited information across their front-to-back office operations, analytics and governance.”

Neill Vanlint, Global Head of Sales & Services at GoldenSource added: “Our existing customers in the region will benefit greatly from our continued expansion. The new office is testimony to the success of our European operations, and indicative of our ambition to remain the industry standard-bearer for enterprise data management.”

The new office officially opens on July 20th and will be located in 28 Rue de Londres.