Obrela, a leading cyber security service provider announced today it will exhibit in Infosecurity Europe 2023. The event will take place at the ExCel in London on 20-22 June.

With Security as the first priority, always, the Obrela team of experts will be available to help professional delegates to achieve security over everything through the latest services available. Obrela at stand K90, including our CEO, Mr. George Patsis will welcome visitors to discuss the prevailing challenges in CyberDefense and to best address the new Cyber Risk Landscape. Delegates can book their meetings with Obrela’s executives and learn more about the unrivalled capabilities of the Obrela Manage Detection and Response (MDR) Solution. 

The latest upgraded Enterprise Grade MDR solution can benefit end users and partners alike.

Obrela delivers cyber security using a disruptive business model: Cyber Security as a Service, which addresses an emerging demand for Service Providers that can offer an “Umbrella” of end-to-end security services under which allows clients to rest assured and focus on their business.

Obrela has successfully delivered MDR and Cyber Risk Management in real-time for over a decade to international organisations. The acknowledged expertise and noteworthy customer base have been incorporated in the new product range of services available to organisations thus making Obrela one of the largest and most innovative cyber security service providers in EMEA. 

During the event, the Obrela team will showcase the range of our service offering:

• MDR: Turnkey threat detection and response service that helps our clients manage operational risk and significantly reduce the mean time to detect and respond to cyberattacks. Our MDR is a mission-critical service that combines artificial and human intelligence to dynamically protect clients’ digital universe and digital assets by identifying, predicting, and preventing cyber threats in real-time.

• MRC: An “umbrella” of solutions that enable clients to effectively manage and orchestrate various aspects of cybersecurity such as governance, risk, compliance, and operations. Our comprehensive approach streamlines these diverse facets of cybersecurity, providing clients with a cohesive and integrated security solution.

All MDR products support SOCaaS, Blue Team support, Threat hunting, Proactive Incident Response, Platform Engineering and support and advanced computer security Incident Response (CSIRT).

Our technology

Swordfish: An integrated cyber risk management platform that orchestrates controls in the diverse facets of cybersecurity operations and consolidates security-related data under a single data lake enabling real-time analytics and supporting informed decisions based on real-time risk management. An “ERP” for Cyber.

George Patsis, CEO at Obrela states: “Participating once again in one of the largest exhibitions and conferences in Europe for Cybersecurity give us the opportunity to discuss with Cybersecurity professionals and technology experts how the market is evolving whilst meeting with candidates that want to develop their career in this domain. Furthermore, it is the place to allow us to better showcase our latest achievements in Cybersecurity whilst making evident how to best utilize AI and human intelligence for the benefit of our clients. Obrela is empowering clients with the tools to remove complexity and provide instant visibility and situation awareness while delivering security over everything. “

Obrela looks forward to seeing you at this industry-focused event at stand K90 to address any of your requirements in cybersecurity! Book your meeting at: Obrela at InfoSec Europe, London - Obrela Security Industries

Virtusa Corporation, a global provider of digital strategy, digital engineering, and information technology (IT) services and solutions, today announced a strategic partnership with Icon Solutions, a leading specialist provider of solutions and technology services that simplify payments transformation. This collaboration brings together Virtusa’s expertise and Icon Solutions’ proven payments solution, the Icon Payments Framework (IPF), creating a powerful alliance to propel successful payments transformation for banks worldwide.

By combining decades of global payments implementation experience with handpicked partners, Virtusa and Icon Solutions are establishing a thriving ecosystem that empowers banks to achieve their payments transformation objectives. IPF, a low-code, cloud-native, open-source framework, allows banks to develop their own payment processing solutions using the IPF software development kit and optional modules or scheme packs. This unique approach, different from traditional vendors, enables banks to leverage Icon’s payments strategy and architecture pedigree while maintaining control and minimising vendor technology lock-in.

Virtusa, with its deep engineering heritage supporting large global banks on different payment transformation journeys like modernisation, new scheme/RTP rollouts, operations automation, and client servicing, is an ideal partner to help implement IPF and integrate it with the rest of payment ecosystem to drive business outcomes like resiliency, scalability, and flexibility.

The partnership is founded on mutual domain consulting expertise, which will strengthen payments transformation programmes, enabling banks to accelerate their modernisation programmes with custom solutions. Icon Solutions’ low code SDK and IPF empower systems integrators to customise solutions, providing banks with the flexibility and agility to address their specific business requirements.

“Icon is committed to empowering banks to regain control of their payments and transform with confidence,” said Liam Jeffs, Sales Director at Icon Solutions. “With Virtusa, we are expanding our partner network to provide even more rich, collaborative opportunities to equip global banks with unique infrastructure that both streamlines their payments processing capabilities and helps them to grow revenue streams.”

Icon Solutions has a remarkable history of successful implementations with some of the largest global banks. Its disruptive payments solutions have enabled banks to stay at the forefront of the rapidly evolving payments landscape.

“Our partnership with Icon Solutions strengthens our Payment Modernization and Transformation offering,” said Amit Bhute, Senior Vice President – Technology at Virtusa. “Our collaboration brings together complementary capabilities and a shared vision to empower banks on their payments journey. Together, we will unlock new opportunities for our clients, helping them thrive in the collaborative world of finance.”

In today's rapidly evolving fintech industry, payment service providers (PSPs) must stay ahead of the curve to deliver exceptional service to their clients. Selecting the right payment software is a critical challenge faced by PSPs, as it directly impacts their ability to optimize operations, enhance security, and leverage advanced features. Additionally, for those looking to start or switch their payment services to another provider, the concept of white-label software becomes crucial. It allows businesses to customize and brand the software as their own, whether they are starting anew, replacing outdated software, or switching from another provider. 

In this article, we will delve into the key factors that PSPs need to consider when choosing modern payment software.

Scalability and Flexibility

Undoubtedly, scaling capability is crucial, that’s why PSPs should always look for a software solution that can handle increasing transaction volumes without sacrificing performance. Therefore, a software solution should provide a robust infrastructure capable of processing high transaction volumes efficiently.

Moreover, flexibility is important in adapting to evolving business requirements. Customizable software options allow PSPs to tailor the solution to the specific needs of their clients, aligning with unique workflows and business processes. Seamless integration with existing systems further ensures a smooth transition and minimal disruption to the PSP's operations.

Advanced Security Features

Security is of paramount importance in the payment industry. PSPs must prioritize a software solution that incorporates robust security measures to protect sensitive customer data and prevent fraudulent activities. Modern payment software offers a range of security measures to safeguard transactions. Encryption protocols ensure that sensitive information is protected during transmission. Tokenization, another crucial security feature, replaces sensitive data with unique tokens, minimizing the risk of data breaches. 

Furthermore, modern payment software leverages advanced fraud detection and prevention mechanisms. Machine learning algorithms analyze transaction patterns in real time, enabling the software to identify suspicious activities and mitigate potential risks. These proactive security measures help PSPs build trust with their customers and maintain a secure payment environment.

Routing and Cascading

Routing and cascading are essential features that payment service providers should consider when selecting modern payment software. These features optimize transaction processing by intelligently directing payments through the most cost-effective and reliable routes.

Routing refers to the process of directing transactions to the most appropriate acquirer or payment processor based on predefined rules and criteria. It allows PSPs to optimize costs, minimize transaction failures, and maximize acceptance rates. By leveraging routing capabilities, PSPs can dynamically select the best routing path for each transaction, considering factors such as transaction amount, currency, region, and acquiring bank relationships. This ensures efficient processing and reduces the risk of declined transactions.

Cascading is closely related to routing and involves the automatic rerouting of transactions to alternative payment processors in the event of a failure or decline. When a transaction fails or is declined by the primary acquirer, cascading seamlessly redirects the transaction to a secondary or backup acquirer. This helps improve transaction success rates and ensures uninterrupted payment processing for the PSP.

Modern payment software, such as Akurateco, incorporates advanced routing and cascading capabilities. Akurateco's intelligent routing engine analyzes transaction data in real-time and routes payments through the most suitable channels to optimize success rates. The software also offers cascading functionality, ensuring that transactions are automatically rerouted to backup acquirers if the primary ones encounter issues.

By leveraging routing and cascading features, PSPs can enhance their transaction success rates, reduce costs, and improve customer satisfaction. These capabilities enable PSPs to navigate complex payment networks, leverage multiple acquirers, and ensure seamless payment processing for their customers.

Comprehensive Payment Method Support

The ability to support a wide range of payment methods is crucial for modern payment software. Customers today have diverse payment preferences, and PSPs need to cater to these preferences to provide a seamless payment experience.

Modern payment software should support various payment methods, including not just credit and debit cards, but mobile wallets and other alternative payment options like cryptocurrencies. By offering a comprehensive range of payment methods, PSPs can tap into global markets and cater to the preferences of their target customers. Moreover, the integration of payment gateways allows for smooth and secure transactions across multiple channels, including e-commerce websites, mobile apps, and in-store terminals.

Reporting and Analytics Capabilities

Modern payment software should provide comprehensive reporting tools that offer real-time transaction monitoring, reconciliation reports, and detailed analytics. These features enable PSPs to identify trends, analyze customer behavior, and optimize business strategies. For example, PSPs can gain insights into peak transaction periods, popular payment methods, and customer preferences. This information empowers PSPs to make data-driven decisions, improve operational efficiency, and enhance customer satisfaction.

Conclusion

Choosing the right payment software is a critical decision for payment service providers. By considering factors such as scalability, flexibility, advanced security features, comprehensive payment method support, and reporting capabilities, PSPs can ensure they select a modern payment software solution that aligns with their business objectives.

While various modern payment software options are available, one exemplary solution in the industry is Akurateco. With its robust infrastructure, customization options, advanced security measures, comprehensive payment method support, and robust reporting capabilities, Akurateco stands as a reliable partner for PSPs seeking to optimize their operations and stay ahead in the competitive payment landscape. By choosing Akurateco, PSPs can leverage the benefits of modern payment software and provide seamless, secure, and customer-centric payment experiences.

CompoSecure, Inc., a leader in metal payment cards, security, and authentication solutions, announced today that it was again named a New Jersey Top Workplace by NJ.com. This marks the fourth consecutive year of being a recipient. The honor reflects CompoSecure's continued commitment to cultivating a positive and fulfilling work environment and reaffirms its dedication to its workforce. CompoSecure President and CEO, Jon Wilk, also was recognized with the Large Business Leadership Award for his exemplary stewardship. Under his guidance, the company has experienced double-digit growth and expanded its global presence as an industry innovator in metal card security and design.

“We’re proud to celebrate the talent and dedication of our more than 900 team members, who are pivotal to our success,” said Wilk. “CompoSecure's continued recognition as a New Jersey Top Workplace reinforces our company’s prioritization of employee well-being that has allowed us to build a culture of innovation and collaboration.”

New Jersey Top Workplaces is an annual recognition program that evaluates and honors organizations based on employee feedback. The award highlights companies that prioritize employee satisfaction, foster a strong corporate culture, demonstrate exemplary leadership and encourage a culture of open communication, employee involvement and teamwork, as well as community engagement. CompoSecure is active in local and regional communities through volunteerism, mentoring and financial support of nonprofits such as Roots and Wings, The Arc of Somerset County, the NJ Metro Chapter of the Juvenile Diabetes Research Foundation, The Center for Great Expectations and Elijah’s Promise, among others.

Nominees for New Jersey’s Top Workplaces were limited to companies with 50 or more employees spanning from northern New Jersey through the Jersey Shore area. The annual New Jersey Top Workplaces award gathers employee feedback through a third-party survey administered by employee engagement technology partner Energage, L.L.C. The anonymous poll measures 15 unique drivers of engaged cultures critical to any organization’s success, including alignment, execution and connection.

Wise Platform is very excited to announce our first Wise Platform bank integration in India with IndusInd Bank! The partnership will give non-resident Indians (NRI) living abroad faster, cheaper and more convenient international transfers to India, available directly in the Indus Fast Remit platform.

Powered by Wise Platform's easy-to-use APIs, IndusInd Bank NRI customers can seamlessly send money from USD and SGD, to their recipients in India with no exchange rate markups or hidden fees. Customers gain access to Wise’s lightning-fast transactions where around 55% of payments through Wise are instant and get full visibility over their payment status and estimated arrival time — all entirely online without needing to visit a physical branch.

The conventional way of moving money abroad through traditional financial institutions typically involves high charges and hidden fees. An earlier study¹ found that people sending money into India from abroad paid over ₹21900 crores on foreign exchange fees in 2020, of which roughly ₹7900 crores were hidden as exchange rate markups on currency conversions. The remaining ₹14000 crores were spent on transaction fees.

With this in mind and a strong focus on delighting customers, our dedicated Wise Platform team supported IndusInd Bank through all stages of the build to ensure a seamless experience for their banking platform.

Speaking about the partnership, Mr. Soumitra Sen, Head - Consumer Banking and Marketing, IndusInd Bank, said:

“At IndusInd Bank, it’s been our constant endeavor to bring forth path-breaking propositions that provide customers with a seamless banking and remittance experience. In keeping with this approach, we are proud to partner with Wise for our revamped Indus Fast Remit platform which enables NRIs to send money to a beneficiary in India at lower cost and at competitive conversion rates from 2 countries globally. We believe that this proposition will witness substantial traction amongst the NRIs, providing them with a comprehensive solution for seamless transfers to India.”

Rashmi Satpute, Country Manager, Wise India said:

“At Wise, our mission is to make moving money faster, cheaper and more transparent for everyone, everywhere. Having launched transfers from India in 2021, today we are thrilled to double down on our commitment here and bring Wise Platform to India with IndusInd Bank onboard as our first partner. IndusInd Bank and Wise share a common vision of modernising the global financial system, and we’re delighted to team up to enable inexpensive, fast and transparent transfers to India for millions of NRIs abroad.”

She further added,

“By leveraging Wise’s API, partners like IndusInd Bank gain access to Wise’s infrastructure, including our market-leading cross-border payments, extensive licence network, and operational capabilities.”

Wise Platform is live with more than 60 banks and businesses across the world, allowing them to leverage Wise’s technology and embed the best way to send, receive and manage money internationally.

Bit2Me, the leading Spanish digital asset firm, registered with the Bank of Spain and backed by Inveready, the highest-return fund in the Spanish market with €1 billion in assets under management, has announced the closing of a €14 million investment led by Investcorp, a global leader in alternative investments with over $50 billion in assets under management.

The round also includes significant participation from Telefónica Ventures, Telefónica’s vehicle for investing in technology startups with strategic relevance, which converts their previously announced investment from the end of last year.

Stratminds VC, a veteran venture capital fund based in Silicon Valley and led by former IBM CIO Richard Jhang; Cardano, one of the leading blockchains in the market, through Adaverse; YGG fund, and its CEO Gabby Dizon have also joined this investment. This round is closing during a ‘crypto winter’ where investors are seeking stable, mature companies with a strong market position.

In this regard, Bit2Me is constantly striving to maintain high standards of quality and security, as evidenced by its recent 2022 Expansión Compliance Award, in addition to holding the ISO/IEC 27001 Information Security Certification and specific agreements with Ledger Enterprise and Prosegur Crypto.

This €14 million investment will enable Bit2Me to start the next phase of its mission: the global adoption of cryptocurrencies. This significant investment will be used to consolidate its position as the leading exchange in Spain and accelerate its expansion into Latin America, thereby increasing its customer base and establishing itself as a key player in the international Web3 sector.

According to Hervé François, Blockchain Fund’s Partner at Investcorp, “We are pleased to lead the investment in Bit2Me, a leading player in the digital asset space. Bit2Me is well positioned to capitalize on the growth in this rapidly evolving market, and Investcorp will actively support its strong management team through eLydian Lion,- the first institutional blockchain fund in the GCC-, with a global mandate to focus on investments in companies leading the next digital evolution driven by blockchain technology.”

For Leif Ferreira, co-founder and CEO of Bit2Me, “For over 2 years, we have been working to improve our platform to achieve the highest levels of quality and product portfolio, while at the same time maintaining the highest levels of regulatory compliance and protection of our customers’ assets. This funding will boost our acquisition of new customers specially thanks to Investcorp, an international partner with significant financial muscle, and to Telefónica, who will give us more channels in Latin America.”

Koh Onozawa, Co-CEO of Bit2Me, stated, “As with our initial funding round, this marks a significant milestone for Bit2Me, and it is only the beginning of many future developments. We are working on incorporating new strategic investors aligned with the company’s innovation philosophy and soon, other well-known investors will also join our projects.”

For Pablo Casadío, investor and CFO of Bit2Me, “with this new boost, Bit2Me will continue to bet on Spain as its physical and fiscal headquarters, within a regulated environment focused on the security and peace of mind of our clients. That’s how we were born, it’s our DNA, and that’s how we’ll continue: innovating and developing cutting-edge technology and expanding our customer base to offer them the best and safest experience in the market.”

Blackbird AI, which develops AI-driven narratives for risk management, has raised $20m in a series B funding round.

Synchrony, a premier consumer financial services company, is proud to announce that it has been recognized by Great Place To Work - India among India's Best Companies to Work For. This remarkable achievement is a testament to Synchrony's unwavering commitment to fostering an inclusive, supportive, and inspiring work environment for its employees.

Expressing his gratitude for being ranked five, Andy Ponneri, Senior Vice President, Business Leader – India, Synchrony, said, “Our employees are what makes Synchrony a Great Place to Work. We are delighted to receive this prestigious recognition by Great Place To Work. This achievement underscores our steadfast commitment to our employees, who are the bedrock of our organization's success. At Synchrony, we hold diversity, inclusivity, and innovation in high regard. With an impressive ~50% women representation, over 100 individuals with disabilities, and our unwavering support for 45+ veterans and veteran family members, we strive to cultivate an environment where every individual can thrive. This recognition serves as a testament to the unwavering dedication of our employees and the exceptional workplace culture we have fostered. Moving forward, we remain driven to promote a collaborative, inclusive, and growth-oriented environment, ensuring that Synchrony continues to be an exemplar of a truly exceptional workplace for all.”

Gaurav Sehgal, Senior Vice President, Human Resources - Asia, said, "At Synchrony, we prioritize creating an empowering environment where our employees can realize their full potential. Our 100% work-from-home flexibility, a key part of our unique Way of Working in India, enables our teams to excel while maintaining a healthy work-life balance with our unique benefits. With a resounding 97% of employees affirming Synchrony as a Great Place to Work, we continuously enhance our workplace experience. We are honored to receive this recognition, a testament to our sustained commitment to our employees' growth and well-being.

This accolade reinforces our dedication to advancing an equitable, diverse, and inclusive environment. We remain committed to enabling our employees to succeed and thrive, driving collaboration and innovation. Together, we will continue to redefine the way we work, while ensuring our employees' well-being remains at the heart of our organization.”

Backed by 30 years of data, Great Place To Work is the global authority on workplace culture. Great Place to Work’s methodology, derived from years of studying the best workplaces across the globe, is recognized as rigorous and objective and considered the gold standard for defining great workplaces across business, academia, and government organizations. Their proprietary methodology and platform enable leaders to truly capture, analyze, and understand the experience of every employee, and compare outcomes with data collected from more than 100 million employees in 150 countries worldwide.

Congratulating Synchrony, Yeshasvini Ramaswamy, Serial Entrepreneur & CEO, Great Place To Work India said, “May your continued efforts to create great workplaces inspire others to follow in your footsteps. Your dedication to fostering inclusivity and empowering individuals has made your organization a true leader in the industry.”

Synchrony’s commitment to its employees is evident through a range of initiatives, including 100% work-from-home flexibility, continuous learning and certification reimbursement programs, and the establishment of Regional Engagement Hubs across India to cater to diverse talent and employee bases. We are committed to revolutionizing work-life balance for employees by offering remote work flexibility, holistic wellness sessions for physical, mental, and financial well-being, extended medical insurance coverage for specially-abled siblings and parents-in-law, freezing of eggs and sperm for employees, surrogacy coverage for maternity plans, and enhancing a culture of total well-being and support. Furthermore, Synchrony's philanthropic efforts and commitment to social responsibility have played a vital role in driving a positive impact within local communities.

In 2022, Synchrony ranked #19 among India’s Best Companies to Work For, Top 5 among India’s Best Workplaces in Diversity, Equity, and Inclusion, and Top 10 among India’s Best Workplaces for Women. Recently, Synchrony also received Top 25 BFSI recognition from Great Place to Work India and ranked #21 under LinkedIn Top Companies in India list.

XS.com, the multinational global FinTech and financial services provider, has today proudly announced its position as the Global Sponsor of the Traders Fair Hanoi, Vietnam, organized in by FINEXPO, the international trade show organisers for financial services. This highly anticipated event will take place on 24th June 2023 at the InterContinental Hanoi Landmark72.

The Global Multi-Asset Broker will have two speakers holding talks during the event including James Park, Senior Business Development Manager (Japan) who will be discussing the best way to diversify an investment portfolio and Gywen Goh, Business Development Team Leader (APAC), who will be covering a presentation about what steps to take in order to choose the most suitable broker.

Andreea Ilies, Global Head of Events at XS.com, expressed her enthusiasm about the sponsorship, stating:

“It brings us great joy to announce our prestigious partnership with the FINEXPO group as the Global Sponsor of the Traders Fair Hanoi, Vietnam - the highest sponsorship tier available. This partnership signifies XS Group's unwavering commitment to growing the adoption of digital investments across the Asian continent. We are on a relentless mission to drive forward innovation and growth in the dynamic and ever-evolving sector of online trading across the globe but especially in Asia. This esteemed exhibition provides XS Group with the unparalleled opportunity to forge meaningful connections with a diverse range of stakeholders, reaffirming our resolute commitment to driving the industry forward.”

Shorena Jejeia, CEO of FINEXPO and organiser of the Traders Fair Hanoi, Vietnam, also expressed excitement about the sponsorship, stating:

"We are thrilled to announce that XS.com, a prominent market leader in the Fintech and financial services industry, has joined us as our esteemed Global Sponsor. The Traders Fairs are a series of financial events that have been running since in 2018 across Asia and Africa - our summits aim to foster awareness and promote the culture of implementing the latest financial technology across the globe, while emphasizing the importance of safe and responsible investing and trading practices. Our events also keep fostering next-level networking opportunities with renowned global brands and influential figures within the industry. We are dedicated to guiding our attendees, sponsors and partners in intelligently and securely exploring the diverse investment opportunities available in the online trading sphere." 

XS.com has chosen to continuously support the Traders Fair’s events as they set themselves apart with their exceptional approach, characterized by engaging sessions encompassing educational seminars and workshops led by highly esteemed mentors. 

As the Global Sponsor, XS.com will have a prominent presence throughout the Traders Fair, showcasing their comprehensive suite of services and expertise in the Financial Services industry. 

XS.com has been joining exhibitions around the world since the start of the year including in the UAE, Mexico, the Philippines, Malaysia, Thailand, and Jordan.

BT and Flexenet today announced a new partnership to give customers more choice in how they to move to cloud-based trading floor communications. BT will now offer customers Flexenet Private Wires connectivity fully integrated with its BT Trading unified communications and collaboration (UCC) platform. This will help deliver secure, compliant, high-performance real-time trading for customers globally.

BT Trading is engineered specifically for the global capital markets and can be integrated with leading unified communications systems from Microsoft and Cisco and choice of private wire services. As well as use on physical trading floors, it can be accessed by traders remotely. It includes a powerful suite of applications and devices and can be hosted by customers in their own data centres, by BT or in the public cloud.

Flexenet Private Wires offers secure private voice communication links between traders on the trading floors of investment banks, brokers, and hedge funds across Europe, the Americas, and Asia. By directly integrating it with BT Trading, the partners have created a comprehensive unified communications solution, irrespective of customers’ current voice technology, managed seamlessly as a single package.

“Trading firms globally are reaching a point where the move to cloud-based platforms is irresistible,” said Phil Swindle, CEO, Radianz and Trading & Command, Business, BT. “Obsolescence of legacy systems combined with the compelling benefits of the cloud, such as scalability, flexibility and ease of adopting new technologies, are driving change. The combination of BT Trading with Flexenet Private Wires reassures customers they can support existing services as they transform to new technologies.”

Chris Rose, CEO, Flexenet, said: “Interoperability between SIP and TDM in the delivery of private wires is essential as we work through this global technology transition to cloud. Customers will have a mix of users across each connectivity model so it’s important they have a solution that can address both. Our partnership with BT offers a global, comprehensive solution for customers’ trading needs and equips them perfectly for the cloud transition.”