Linedata, a global provider of asset management and credit technology data and services, announced today that Gryphon Fund Group (Gryphon), a leading fund administration firm servicing both registered and private investment companies, has selected Linedata Mfact to streamline fund accounting, NAV calculation and reporting processes onto a single global platform.

With Linedata Mfact, Gryphon’s fund administration operations now benefit from modern, scalable and customizable technology, unlocking greater efficiency and accuracy in its execution of standard back-office activities. With more streamlined operations and automated reporting enabled through the platform, Gryphon is providing their clients a more comprehensive and seamless fund administration experience.

“Client service has been a top priority during our growth journey,” said Gordy Jones, President and Chief Revenue Officer at Gryphon. “We are always asking ourselves ‘how can we be better?’, and Linedata Mfact has enabled us to simplify a number of our back-office operations and integrate the daily workflow with other reporting requirements seamlessly allowing our team of accounting experts to focus on our clients’ technical matters rather than simply processing client data.

Linedata Mfact is a powerful fund accounting and reporting solution used by asset managers and fund administrators, designed to provide real-time, accurate data to support better decision-making. With Linedata Mfact software, Gryphon automates workflow and manual processes from data input to final NAV production. This includes striking NAVs with 100% accuracy by leveraging Linedata Mfact’s automated capabilities and increasing efficiencies with Mfact’s scheduler functions.

"In today’s macroeconomic environment, integrating intelligent software into your operations is a necessity to maintain a strong competitive edge,” said Bob Moitoso, Head of Asset Management North America at Linedata. “Gryphon understands the role technology plays to deliver faster, accurate results, positioning them as clear innovative leaders in the industry.”

Linedata Mfact delivers a scalable and reliable fund accounting solution that all fund types can benefit from, including multi-currency share classes, manager-level NAVs, and traditional and alternative funds. Linedata Mfact is just one component of Linedata’s front-to-back offerings and solutions across the greater asset management and credit communities.

Temenos today announced that United Bank Limited (UBL), one of the largest banks in Pakistan with 11 million customers, has gone live with Corporate Lending on Temenos digital banking platform as part of a comprehensive digital transformation of the bank’s retail, SME and corporate banking for domestic and international customers on the Temenos platform.

The Temenos Corporate Loan Origination solution, implemented with NdcTech, will help UBL to meet growing demand for digital customer experiences and win business with corporate clients in a highly competitive lending market that has seen demand slowed by global economic conditions and rising interest rates.

Temenos’ solution systematizes the process of loan initiation, credit approval management, credit policy, limit monitoring, credit documentation management, risk rating, collateral management and post-approval activities and transactions.

With these banking capabilities integrated into Temenos digital banking platform, UBL can provide a smooth and seamless digital experience while enabling the bank’s corporate lending teams to access the right data at the right time to make quick, consistent and cost-effective credit decisions.

This go-live covers loan originations to five segments, including large conventional banking corporates and group companies, Islamic banking corporates, Agri enterprises, Financial Institutions and Small & Medium Enterprises.

A pioneer in digital banking, UBL is working with Temenos and NdcTech to further leverage the Temenos platform to provide an integrated, digital experience for all retail and corporate customers, covering the entire customer lifecycle from onboarding and origination to servicing.

Offering composable banking services – built on microservices and accessible via APIs – the Temenos platform will enable UBL to quickly develop new products at lower risk and cost that bring real benefits to customers.

Muhammad Faisal Anwar, Chief Information Officer, UBL, commented: “We are delighted to go live with corporate lending on Temenos digital banking platform. The solution enables us to elevate the digital experience for corporate customers and achieve operational excellence, helping us to increase customer satisfaction and drive revenue growth. We look forward to building on this success and our close partnership with Temenos and NdcTech.”

William Moroney, Managing Director – Middle East and Africa, Temenos, said: “Congratulations to UBL on this successful go-live. This well-executed implementation will transform the lending experience for UBL’s corporate customers. UBL has a clear vision for the future of banking with digital-first customer experiences. We look forward to building on this success across the bank’s domestic and international business.”

Ms. Ammara Masood, CEO & President from NdcTech, added: “We are proud to celebrate this important milestone with UBL in Pakistan. Going live with Temenos’ loan origination solution is a great leap forward in UBL’s digital banking transformation that will give the bank an edge in the corporate market. It also sets a high bar as we continue to partner with them to leverage the composable banking capabilities of the Temenos platform.”

With clients such as Allied Irish Bank in Ireland, Commerce Bank in the USA, and Al Rajhi in Saudi Arabia, corporate banking is a key are of investment. Temenos is a leader in The Forrester Wave™: Digital Banking Processing Platforms for Corporate Banking, Q3 2022. According to the report, “Temenos sets the pace in AI-powered banking capabilities and application architecture”. Temenos was also recently named a ‘Global Power Seller’ and ‘Top Global Player’ based on Forrester’s Global Banking Platform Deals Survey 2022.

GCEX, a leading digital prime brokerage, has been granted permission from the Danish Financial Supervisory Authority (FSA) to operate as an investment firm.

The FSA license is a significant milestone for GCEX, enabling the rapidly growing firm to offer rolling Spot FX and CFDs to institutional clients in the EU.

Michael Aagaard, Managing Director, GCEX, Denmark said, “This is a major step forward for our business and we believe it will be a significant catalyst for growth in Europe. Brokers, fund managers, hedge funds and professional traders based in the EU will now have the peace of mind and reassurance of knowing that they are transacting with a credible firm which is regulated in their own jurisdiction.”

Lars Holst, CEO, GCEX added, “It is fantastic news that we now have access to the EU market as an investment firm regulated by the Danish FSA. Obtaining this FSA license involved an extremely stringent process in which we had to demonstrate our experience in financial services, the knowledge of our team, good governance and our strong focus on investor protection. It now opens the door for us to market to EU clients, presenting us with a major opportunity for further growth.”

“From the outset, we have been advocates of operating within strong regulatory environments. Our broader regulatory coverage reflects our ethos of providing a professional, reliable, trusted and robust service in order to be at the forefront of the industry.”

Headquartered in London with multiple offices around the globe including in Copenhagen, GCEX Group enables brokers, fund managers, hedge funds and professional traders to access deep liquidity in FX and CFDs. The firm also offers clients access to XplorDigital, a range of trading solutions.

True Global Ventures are investors in GCEX.

Eventus, a leading global provider of multi-asset class trade surveillance, market risk, transaction monitoring and algorithmic monitoring solutions, has been selected to provide trade surveillance for Yuanta Futures in Taiwan, representing the firm’s first Taiwanese client.

Yuanta Futures is a subsidiary of Yuanta Financial Holdings and ranks number one in Taiwan for its futures and options market share, profitability and capital. As a systemically vital participant in Taiwan’s futures market, the firm selected Eventus’ Validus trade surveillance platform to replace its previous vendor solution, citing its superior actionable alert capability and user-friendly interface. Rebecca Hu, Yuanta Futures’ Senior Manager of Customer Service Trading Department, said Eventus has delivered an exceptional customer experience as well as improved surveillance outcomes.

“We have been very pleased with the responsiveness and expertise of the Eventus team as we have implemented the technology,” she said. “Our compliance staff has found Validus to be much more user-friendly, and we see improved clarity and accuracy in the outcomes the system provides.”

Nick Wallis, Eventus Head of Sales, International Markets, said Eventus is proud to be working with one of Taiwan’s most important futures companies.

“We are delighted to have won the trust of one of the region’s leading companies and to have the opportunity to deliver surveillance outcomes that are more precise and easier to action,” he said. “We look forward to continuing to work with Yuanta as an important foundation customer as we further grow our client business in the Asia-Pacific region.”

Eventus has earned more than 30 awards and honours since 2018 for its technology and best-in-class service, including six awards specifically for its service to the APAC region.

North Carolina State Employees’ Credit Union (SECU), the second largest credit union in the United States, will work with NCR Corporation, a leading enterprise technology provider, to modernize the digital banking experience for SECU’s 2.7 million members across North Carolina.

“Our members have trusted SECU for more than 85 years to serve their financial needs,” said SECU President and CEO Jim Hayes. “As our members’ needs evolve, we want to provide servicing options that offer more seamless, personalized experiences from the branch to the ATM to a mobile device. NCR’s digital banking platform will expand our services through online and mobile channels, complementing the exceptional member service that our branches are known for delivering.”

SECU will use NCR Digital Banking, a cloud-native, API-based platform, to enhance its mobile and online banking capabilities, with a focus on enhanced account management, financial fitness, payment and security features for SECU members. These digital service options will supplement the in-person service SECU provides at its 274 branches across North Carolina.

“Leading institutions such as SECU understand the importance of embracing technology to meet the expectations of members today,” said Michael Hayford, Chief Executive Officer, NCR Corporation. “NCR is proud to offer a flexible, digital-everywhere platform that is a differentiator for businesses in a highly competitive ecosystem.”

“We conducted an extensive evaluation process to identify the right partner to help us build digital services that will serve our members well into the future,” said SECU Chief Information Technology Officer Josh Bomba. “We appreciate NCR’s expertise supporting more than 600 financial institutions and credit unions, and we look forward to working closely with NCR as we implement enhanced digital services.”

Lenders Cooperative, a provider of lending solutions for financial institutions, today announced the unique integration of the Massachusetts Capital Access Program (CAP) into the cooperative’s loan origination system (LOS). This integration allows lenders to have a fully turnkey process to accept and originate Mass CAP loans without the need to manage documents and process outside the loan platform.

With nearly 60 banks participating throughout Massachusetts, Lenders Cooperative recognized the need to integrate the CAP program into its LOS to better serve their customers. The Mass CAP program is designed to help the state’s small businesses with 200 or fewer employees obtain term loans and lines of credit from participating banks. Using cash collateral guarantees from a loan loss reserve fund, the program enables banks to confirm loans they might otherwise be unable to grant.

Loans guaranteed through the Mass Capital Access Program may be used to start or expand businesses, or to provide permanent working capital to ensure continued profitable operations. Typical needs for these loans include equipment purchases, start-up costs and real estate acquisitions. The program can also be leveraged for working capital lines of credit.

“With such a large number of our customers in Massachusetts, it only made sense to integrate the CAP program into our LOS,” said Loughlin Cleary, President of Lenders Cooperative. “We are dedicated to helping our clients provide the best loan solutions to their local businesses and communities, and the Mass Capital Access Program is an important tool for this. Our mission is to support small and midsized businesses (SMBs) and this integration is a testament to that commitment, as well as the flexibility we offer to our customers.”

iProov, the global leader in biometric authentication, today announced a partnership with Wultra, the leading digital banking security provider in the Czech Republic. The partnership enables Wultra to provide iProov’s biometric solutions suite as part of its portfolio of digital banking solutions.

Consumers are increasingly calling on their financial services providers to offer online access to high-risk services including new account enrolment and account reactivation. To meet this demand, banks work with companies like Wultra to evaluate best practices in balancing security and convenience at critical points of their end-user lifecycle. One of the most significant challenges banks encounter is being able to remotely verify the identity of consumers in a way that is easy to use and prevents mid-process dropout.

Raiffeisenbank is the Czech member of Raiffeisen Bank International (RBI), a leading banking group operating across 14 countries in Central and Eastern Europe. Raiffeisenbank has implemented iProov’s biometric solution from Wultra to provide its customers with the ability to securely reactivate their bank accounts online at their own convenience, without visiting a physical branch or using additional hardware.

“Several factors were instrumental in our decision to implement iProov technology: iProov has been successfully deployed by leading global banks and has achieved the industry’s highest completion rates. This provides us with clear evidence of both its user-friendly qualities and ability to meet high customer demand,” said Tomáš Rosa, Ph.D. Cryptology and Biometrics Competence Centre Lead, Mathematical Security Architect at Raiffeiesen Bank.

“During the process, iProov swiftly addressed our questions around biometric authentication performance by completing an in-house statistical review and allayed any concerns we had regarding GDPR and deployment in the cloud. Finally, as a security expert with a strong mathematical background equally important to me was the fact iProov’s facial authentication technology was backed by hard data ensuring the solution could be reviewed and, even more critically, trusted,” he added.

“Banks are hyper-aware of the evolving threat landscape, and mobile banking apps are becoming a top target for cybercriminals. Points like account creation and rebinding are especially vulnerable to fraud, so increasing the security levels of our product set to help our customers tackle this was a priority for us,” comments Zdeněk Černý, CTO at Wultra. “iProov’s technology delivers on all fronts and stood out from the RFP process as ‘the real deal’. It has been a great addition to our portfolio and is already loved by one of our biggest customers, Raiffeisenbank, who actively encouraged us to add iProov technology to our stack.” 

“Financial services providers are a prime target for cybercriminals' most sophisticated attacks. Our recent Threat Report found that AI-based attacks, such as deepfakes, are gaining momentum and basic-level biometric technology is struggling to keep pace,” comments Andrew Bud, founder and CEO of iProov. “iProov’s biometric solutions suite is uniquely able to assure liveness, a key determinant in mitigating AI-based attacks. We are excited to partner with Wultra in their mission to secure and protect leading banks and fintech companies with meaningful security solutions for their internet and mobile apps.”

iProov’s proprietary facial biometric solution uniquely enables organizations to verify that end users are the right person, a real person, and are verifying in real-time. It does this with its proprietary science-based liveness technology and Security Operations Centre (iSOC), which provides 24/7 active threat mitigation. iProov is already used by security-conscious organizations like the Department of Homeland Security, Eurostar, ING Bank, and UBS.

Global financial services firm Ebury is delighted to announce its new partnership with FIBA – the Financial Intermediary & Broker Association. 

This exciting collaboration will allow FIBA members to support businesses with effective lending, risk management and cash management solutions through Professional Partner.

Ebury's services offer intermediaries access to the following business solutions:

• Unsecured trade finance revolving credit facility of between £50,000 and £3 million with no set up or maintenance costs.

• International payments in 130+ currencies and hedging tools to mitigate volatility in foreign markets with the ability to lock in pricing up to 5 years.

• Global payment and collection accounts allowing companies to receive funds domestically, avoiding high wire costs and automatic conversion all in one online portal.

The partnership aims to leverage Ebury’s market-leading services and expertise in business lending, international payments and cash management solutions so that FIBA’s members can enhance their client proposition.

For example, brokers will now be able to provide cash flow to companies so that they can mitigate supply chain issues and navigate busy stocking periods throughout the year which would have previously been challenging. 

Ebury will support brokers’ clients with a dedicated Relationship Manager, a global footprint spanning 32 offices worldwide and a 24/7 online platform to simplify transactions.

Kevin Copping, Senior Head of Desk Partnerships at Ebury commented, “We are delighted to be working with FIBA and supporting their members with our market-leading capabilities.

“At a time of market volatility and with stresses across global supply chains persisting, the ability to provide businesses with efficient FX risk management and lending solutions is increasingly important. Ebury specialises in simplifying international trade and so we are ideally placed to work with FIBA members and their clients to achieve positive outcomes.” 

Martin Reynolds, Executive Chairman at FIBA, added: “Enabling our members to fulfil their client needs is central to our purpose. We are excited to partner with specialists like Ebury to ensure brokers and intermediaries can continue to provide outstanding service to SMEs in the UK.” 

Choco Up, a global technology and financial services provider offering revenue-based financing and growth solutions, and RegTech company Know Your Customer have announced a partnership to streamline client verification and accelerate access to capital financing for e-commerce businesses worldwide.

With data analytics and machine learning at its core, Choco Up employs vast integrations to conduct artificial intelligence-driven risk assessments to automate fund deployment, providing e-commerce brands with growth capital in a quick and seamless manner. Choco Up also enables e-commerce companies to identify pain points, optimize their business for growth, and stay competitive by providing them with their business performance data in one place. With offices in both Singapore and Hong Kong, Choco Up serves businesses with smart-growth analytics and global payment solutions to fuel their growth.

Know Your Customer offers flexible and scalable Modular Compliance solutions to simplify and automate client onboarding and periodic reviews. Its platform features real-time connections to company registries in 127 countries, AI-based extraction of company and shareholder information from official company documents, live mapping of Ultimate Beneficial Owners across borders and periodic review automation. 

Choco Up's zero-equity revenue-based financing (RBF) has a flexible repayment mechanism. By partnering with Know Your Customer, Choco Up is empowered to safely accelerate client verification and business KYC procedures, making it more convenient and faster for e-commerce merchants and startups to access much-needed credit.

"Our partnership with Know Your Customer is critical to provide flexible, non-dilutive growth capital to our clients in as little as 48 hours, in some cases with instant KYB/KYC verification" said Brian Tsang, co-founder and COO of Choco Up. "By leveraging Know Your Customer’s automation capabilities and unparalleled live registry access for our compliance operations, we can provide a market-leading and fully streamlined onboarding experience to e-commerce businesses worldwide."

"A solid digital client onboarding process is a crucial first step for any financial institution looking to offer fast access to capital and services,” said Claus Christensen, CEO and Co-Founder of Know Your Customer. “We are very proud of the part our technology plays in helping Choco Up deliver fully compliant onboarding and provide vital funding to entrepreneurs and startups globally.”

VIXIO Regulatory Intelligence, the leading provider of regulatory and business intelligence to the global payments and gambling industries, announced today that it has launched Horizon Scanning, a SaaS solution that provides real-time intelligence to enable payments compliance professionals to stay on top of global regulatory changes.

Horizon Scanning offers three main use cases that fit within a payments compliance framework:

• In depth global coverage of the regulatory payments landscape. By offering intelligence across 130+ jurisdictions, from the US and Canada to Europe, LatAm and APAC, compliance professionals are able to monitor and prioritise regulatory changes based on whether it’s actionable, indicative or informative. 

• Analysis of regulatory trends and policy movements to inform market strategies and manage risk. The highly customisable and dynamic dashboards accessible in the platform allow customers to filter results, assess regulatory impact by type and volume. The ability to build custom watchlists enables compliance professionals to instantly see where markets may be opening up for new product types or where regulatory change is trending towards stricter obligations.

• Reporting to the Board. Any analysis built in the platform can be easily exported for ease of reporting. Customers can create a report structure and refresh monthly to keep stakeholders informed.

VIXIO analysts assess, analyse and distil key regulatory events to provide actionable insights. The increasing volume of regulatory change is introducing noise into the system. Horizon Scanning showed that in the first half of 2022, of the 300,000 regulatory events tracked, only 978 were relevant to payments. It also showed that only 200, or 0.32% required action. 

Apart from the significant time-saving Horizon Scanning offers compliance teams, it also offers the benefit of being extremely customisable to ensure that it fits within a client’s requirements and how they view the landscape. Complementing this core requirement, the solution acts as a training tool to help teams approach different jurisdictions and regulations within their specific roles.

Roseanne Spagnuolo, VIXIO Chief Content Officer, said: “The payments industry continues to evolve and be disrupted by new technologies and business models, reducing friction and creating new customer experiences. Risks too are also emerging due to tough market conditions, rising fraud and pressures on firms to grow quickly.”  Spagnuolo further stated “Regulators are responding in kind, and at pace, focussing on consumer protection and handing out enforcements to those who fail to comply. We developed Horizon Scanning to empower our clients to systematically manage regulatory change and safeguard their business and customers from non-compliance.”