Mollie, one of the fastest growing financial services providers in Europe, today announced the launch of Mollie Capital, a fast and flexible way for customers to access funding. The launch marks a pivotal move into the financial services industry for Mollie and improved access to cash for SMEs.

Mollie Capital is a fully integrated business financing service. Eligible customers can apply for cash advances of up to €250,000 based on a variety of factors, including their transaction history with Mollie. They can easily request funding via the Mollie dashboard with just a few simple clicks, and in most cases, funds will be available on the same day. Repayments are automatically taken as a portion of daily sales and a fixed one-time fee is charged. 

Research has shown, including this European Central Bank study focused on access to finances for SMEs, the difficulty young and innovative firms have in accessing loans. E-commerce SMEs are being slowed down by not being able to buy inventory, fund marketing campaigns or invest in business expansion. 

Mollie Capital is an attractive alternative to traditional financing that powers Mollie customers to unlock their growth potential. It helps save time and drives efficiency with the entire funding process managed in the same platform they receive their revenue.

Shane Happach, CEO of Mollie said, “Mollie Capital is a milestone product launch for Mollie. It marks our first step towards becoming a financial services provider, whilst aligning with our goal to help small- and medium-sized merchants compete. At Mollie, we believe in SMEs' success and want to help them grow. With lengthy, cumbersome requirements to get financing, SMEs have been continually underserved by the big banks. Mollie Capital will ensure they can access fast, flexible and easy funding that they need to flourish.”

In preparation for the launch, Mollie Capital was offered to a small group of customers to enable Mollie to refine the offering. One of the first customers was Tom Kapitein at Glamour your Hair, who took advantage of the fully integrated business financing service: “Mollie Capital has transformed the way we access financing as a growing SME. With repayments automatically repaid, we don’t have to worry about scheduling or missing repayments, so we can focus our priority on growing our business.”

Mollie Capital will initially be offered to select businesses in the Netherlands and Belgium, with plans for expansion to other markets later this year. 

nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced that Avenue Bank, an Australian start-up digital business bank specialising in serving small and medium-size businesses, is live on the nCino Bank Operating System^®. Avenue Bank deployed nCino’s Commercial Banking Solution to support customer onboarding, origination, credit risk management and customer 360 view—providing their employees with key insights and the automation necessary to deliver faster response and seamless experience for their customers.

“nCino embedded their high-quality solution into our greenfield digital strategy in just over 4 months. With their guidance, we’ve been able to design products and implement best-in-class technology to meet our needs—and the needs of our target customers,” said George Confos, CEO and Executive Director. “As a cloud-based, digital product-led business like nCino, our values and mission make this partnership a win-win for not just our customers, but for our people, too. nCino’s team was highly engaged throughout the entire project, making our team confident that Avenue Bank’s success was their top priority.”

Small and medium-sized enterprise (SME) businesses are a fundamental part of the global economy. nCino’s platform supports both the financial institution and the customer from the very beginning, to deliver an efficient, end-to-end banking relationship, enhancing customer relationships and increasing loan profitability and response time. nCino’s single platform helps drive Avenue Bank’s digital strategy that focuses on making timely, quality decisions and operating within a high-tech, low-touch environment.

“Across the industry, financial institutions can add significant value by adopting digital technologies like nCino to deliver faster customers insights, respond more quickly to new market trends, and scale efficiently to stay ahead of the competition,” said Mark Bernhardi, Managing Director of Australia and New Zealand at nCino. “It’s always an exciting opportunity to partner with another entrepreneurial and progressive organisation such as Avenue Bank and provide new and innovative ways to better serve their customers. Avenue is on a mission to exceed the business banking standards across the Australian market, and nCino’s platform is helping to fulfil that goal.”

Railsr, the leading global embedded finance experiences platform, is partnering with DND Finance (DND), a multinational commercial equipment finance provider, to launch the Score Credit Mastercard.
 
Branded as the Score Credit Mastercard by DND, it is aimed at personal users and business owners with a less-than-perfect credit record including entrepreneurs and students. The card is also Shariah-compliant. DND believes its card will be a key way for users to get their credit records back on track, echoing sentiments articulated by Railsr which advocates the democratisation of finance.
 
DND uses the Railsr platform for its UK Banking-as-a-Service, licensing and card services. It chose Railsr as the issuer because it did not want to manage every single part of the implementation process, including linking to key partner platforms and getting a Bank Identification Number (BIN).
 
DND has created the card based on the knowledge that a good credit record is built when people develop a history of paying bills on time, such as credit cards, lines of credit and loans. With the Score Mastercard, a user decides what limit is best for them, transfers a security deposit to DND, start using their card for everyday expenses and consistently pay their bills on time. That payment history is reported to the UK credit agencies and their credit improves.
 
DND traditionally works with SMEs and entrepreneurial companies in the UK and Canada that are typically ignored by larger lenders. It provides vendor financing programmes to manufacturers and works closely with small-ticket brokers of equipment finance. It also provides loans to professionals, from physicians to accountants and architects.
 

Louisa Murray, SVP, Global Head of Enterprise Customers and Partners of Railsr, said: “We are very excited to be working with the team at DND. Its approach of helping companies and individuals navigate the tricky world of finance aligns very much with our core principles of how the wider financial services sector is there to serve as many people as possible. We look forward to working with them over the coming years.”
 

Rev Dr K Bill Dost, co-founder and Group CEO of the DND, added: “Our services provide a way for underfunded entrepreneurs to finance their dreams – to open a new business or continue the business they have when they need funding. It is great to team up with Railsr, a platform that could offer us the whole package and take away the pain of introducing our product.”
 

“Our purpose with the Score Card is to offer attainable access to a better life for everyone. This is because a bad credit rating used to mean one would not be able to access affordable credit products; today it means that you cannot move into your ideal neighbourhood or your children cannot attend the right school. A good credit rating is a difference between a life of lack and a life of privilege and we choose to offer that life of privilege to anyone that desires it.”

LINE MAN Wongnai announced today that it has raised US$265 million in a Series-B investment round led by GIC, Singapore’s sovereign wealth fund, and LINE Corporation. This fundraising round was also joined by BRV Capital Management, PTT Oil and Retail Business Public Company Limited (OR), Bualuang Ventures and Taiwan Mobile.

With this investment, LINE MAN Wongnai has achieved a valuation of over US$1 billion, making it Thailand’s largest tech startup by valuation.

The funding will be used to strengthen LINE MAN Wongnai’s strong position in the food delivery market, expand new service categories, recruit tech talent and improve tech infrastructure. LINE MAN Wongnai aims to be employing more than 450 talented tech professionals by the end of 2022.

LINE MAN Wongnai was established in 2020 from the merger of LINE MAN, Thailand’s No. 1 on-demand assistant app, and Wongnai, a restaurant review platform. The company aims to be the most innovative e-commerce platform for services in Thailand with diverse business portfolios:

●        On-Demand Businesses – LINE MAN services include food delivery, grocery delivery, messenger and taxi. The number of orders made each month through the food delivery service grew by more than 15 times between January 2020 and August 2022, making it the fastest-growing food delivery platform in the country. Now LINE MAN operates in all 77 provinces in Thailand, offering delivery options to 700,000 restaurants, the most among food delivery service providers.

●        Merchant Solutions – Wongnai connects close to 1 million merchants to users nationwide through search and reviews. In addition, Wongnai POS has become the No. 1 point-of-sale solution in the food & beverage industry with over 50,000 merchants.

●        Value-Added Services – Utilizing a large base of customers, riders, and restaurants, LINE MAN Wongnai offers advertising and financial services, among others, to incrementally add value to the stakeholders in the ecosystem.

Yod Chinsupakul, CEO, LINE MAN Wongnai, said “Today’s announcement marks a remarkable milestone for LINE MAN Wongnai. I am grateful to GIC, LINE and other investors who gave us the opportunity to create large-scale impacts and to become a national champion for Food Delivery. Food has been our passion since I co-founded Wongnai and now to be able to connect millions of users with the biggest pool of restaurants we have is a dream come true. We are also proud to create over 100,000 jobs for the riders, most of whom earn more than twice the minimum wage. We are committed to driving Thailand forward. Today, we promise to bring best-in-class and tailor-made products and services to help Thai people live better.”

In Young Chung, Chief Financial Officer, LINE MAN Wongnai, said “The announcement opens the next chapter for LINE MAN Wongnai to grow from a local Thai start-up to a regional tech platform. We thank LINE for embracing us into its deep mobile ecosystem and providing on-going support for our journey. We also thank GIC for not only giving us the trust and capital, but also guidance and insight from its global presence and BRV for its continuous support since Series A lead investment. Our LINE MAN Wongnai team will strive to become the most inspiring tech company through IPO and beyond in coming years, for our society and young generations.”

Eunjung Lee, CEO, LINE Plus Corporation, said “LINE MAN is one of the great success cases, highlighting LINE’s dedication to creating services tailored to the local needs of each market.  With this fundraising, LINE MAN Wongnai solidifies a foundation for its future growth, creating a better, more convenient daily life for Thai users.”

Payment technology company Tribe Payments, today announced it is providing digital bank, Paytend, with both issuer and acquirer processing services. The partnership enhances Paytend’s product offering, enabling them to issue payment cards, allow users to add cards to mobile wallets - including within Paytend’s own mobile banking app - and allow merchants to accept POS and online transactions.

Regulated by the Bank of Lithuania, Paytend provides innovative digital banking services to consumers and businesses in Europe. The digital bank’s offerings span multi-currency accounts, global remittances, and both in-store and e-commerce acquiring. Due to holding issuer and acquirer licences, Paytend was keen to work with a single partner that supported both sides of the transaction with an API-led and cloud-based technology platform.

With its core platform – ISAAC - Tribe now provides Paytend with issuer processing and management for Mastercard and Visa cards, both virtual and physical – including support for mobile wallet payments, also via Paytend’s mobile banking app. Tribe also facilitates authorisations and provides tokenisation, 3DS and transaction monitoring solutions.

On the acceptance side Tribe’s technology powers both in-store POS and e-commerce transactions for Paytend’s merchant customers, which includes restaurants, tax-free shops and cosmetic stores throughout Europe. This incorporates multi-scheme acquirer processing services and supporting capabilities such as acquirer-side 3DS.

“At Paytend we pride ourselves on providing better and more efficient financial collection and payment services for our customers across a wide range of use cases”, said Laimonas Zmuidinavicius, Managing Director at Paytend. “To help us achieve this we needed a payments technology partner that offers the flexibility and expertise needed to ensure our digital banking services are market leading. With Tribe we’ve found exactly that - a proven partner that helps us create compelling issuing and acquiring services.”

“We see a growing demand for businesses who want to be both issuer and acquirer. As fintechs look to differentiate and rapidly launch new services to drive new revenue streams, the ability to address both sides of the transaction is key, not just to seizing the opportunities available but also to gaining more control over business direction, costs and commercial models,” said Alex Reddish, Managing Director at Tribe. “While the opportunity is enormous, the process often isn’t easy. Which is why our job is to take the pain out of that process and offer flexible technology that allows Paytend to offer a powerful end-to-end service for their customers.”

Finances and banking have dramatically changed in recent decades, and technical innovations were the main contributor. Edgy satellite-driven technologies facilitate financial decision-making and open up new business horizons, and the geographic information system (GIS) is among the best novelties.

Geospatial data gives more specific information to banks than any other source. Banks can study market demand, track competitors, and manage agricultural credit risks.

What Is Geospatial Data?

Geospatial data is any information indicating the geographical position (aka georeference). Georeferencing can be more or less specific – from the exact location on the map with the Global Positioning System (GPS) to just a country’s region. It provides a lot of useful information about the questioned area but the greatest thing about geospatial information is data visualization on the map.

For example, GIS software can provide valuable demographic insights on the population density in a certain area, people’s income, or financial services they use. Derived data helps banking institutions analyze the current patterns and understand how trends change over time.

Let’s consider the most essential benefits of location-based geospatial data for the financial sector.

Risk Assessment for Agri-Banks

Agribusiness is a highly vulnerable sphere due to farmers’ yield loss, but satellite-based crop monitoring analytics and custom solutions can help to mitigate the risks. In particular, crop yield forecasting with satellite technologies allow for analyzing credit default probability. In other words, agri-banks can understand if farmers are likely to repay the debt by predicting their future profits.

Yield estimation before granting a loan also includes checking the historical data on the farm’s productivity, historical weather trends, and the current crop state. Before, the task often required physical field inspection by scouts and digging through piles of paper docs. Nowadays, crop yield estimation using remote sensing is easier. EOSDA products and custom solutions provide multiple data on the required location – all in one place.

What Problems Do Banks Have while Working with Data?

While processing the submitted data about the farms, banks face a number of challenges:

• Lack of required data. Proper farm enterprise analysis must be based both on current and historical information that can be missing or lost.

• Credit default risks and payout failures. Clients may fail to pay back the loan.

• Data credibility. Growers can mislead the banks about their farm’s productivity, which complicates data procession and increases the credit default risks.

• Revenue estimation. Crop yield prediction helps lenders understand if prospective borrowers can meet the credit requirements and return the loan.

• Time management issues. Field inspection for data verification often requires additional time and effort.

• Necessity for advanced technology adoption. Traditional methods for risk assessment are often slower and less effective than modern ones.

What Benefits and Results the Banks Will Get

By leveraging satellite-based farming software and switching to modern technologies, banking and financial institutions will be able to improve their workflow in the following ways:

• shorten the application processing time;

• access reliable data for yield prediction;

• reduce repay failure risks;

• save costs for field scouting;

• embrace more clients;

• increase customer satisfaction rate.

Furthermore, EOSDA is about to launch its proprietary EOS SAT, an agri-focused satellite constellation this year, intending to provide even more data precision and improved services to its clients.

Competitor Tracking

When it comes to finances and banking, geospatial data provides far more benefits than better management of risks. With georeferencing, banks can keep ahead of the game by tracking competitors’ activity on GIS maps. Thus, geospatial software can show the exact geographical position of competitors and the density of their institutions in a specific area. GIS mapping also allows for change detection in the specified location, which means banks can analyze their competitors’ geographical movements and business patterns to predict their future behavior over time. This way, financial institutions will improve their own business models and expand the market in the long run.

Logistics Optimization

Banks require cash transportation to and from ATMs, and bank fleet management can be optimized through a geospatial data-based system. Among other functionalities, it can choose the fastest routes by predicting traffic jams, which saves time and resources. Besides, by speeding up cash pickup and delivery time, banks will avoid cash shortages to ensure customer satisfaction.

Thus, geospatial data can assist to improve business processes and facilitate workflow procedures, contributing to new market expansion and the banks’ reputation. By adopting the latest innovations, banks can keep pace with the ever-changing world and enjoy the benefits of advancement.

Shaype, Australia’s only one-stop-shop embedded finance platform, has secured an additional A$33 million in new equity investment in a Series C capital raise.  

Proceeds from the latest investment round will be used to accelerate growth, with a particular focus on expanding the team to support a full pipeline of Australian clients, as well as international expansion. 

Regal Funds Management led the round, which also included family offices. 

Commenting on the raise, Philip King, Chief Investment Officer at Regal Funds  Management said: “We see huge opportunities for Shaype in leading innovation, as well as disruption, in banking and finance. Shaype is at the forefront of a new breed of fintech that  can enable financial services better and more cost-efficiently than any incumbent thanks to  the platform’s control, flexibility, and speed.” 

While global equity markets and in particular the technology sector have undergone a  material re-pricing in valuations this past 12 months, Shaype has successfully closed the  Series C with a significant uplift in valuation. This reflects the core infrastructure that Shaype has built and owns, the team’s consistent track record of execution and delivery, and the resulting full pipeline of new business. 

Shaype will launch solutions for a range of businesses across Financial Services, HR,  PropTech and Government before the end of this year. 

Additionally, in Q4 2022, Shaype will be one of the first payments service providers to live with both Payment Initiator and Payer services on New Payments Platform Australia’s PayTo.  

With 100 employees globally, and offices in Sydney, London, Belfast, Glasgow and Warsaw,  Shaype’s flexible embedded finance platform offers single API access to a full suite of powerful microservices for payments, KYC, data, insights and real-time transaction monitoring. 

• Product Reviews
• 26.09.2022 07:12 pm

Islamic banks are facing numerous challenges in today’s increasingly complex business environment. In addition to keeping up with emerging technologies, Islamic banks must find innovative solutions to ensure compliance with changing regulations, customer demand for personalization and customization, including end to end digital onboarding and a seamless omnichannel digital banking experience. Islamic Digital Banks must also be able to effectively collaborate with fintechs, and ETHIX NG, the next generation core banking system by ITS, is designed to address these challenges and empower Islamic digital banks to achieve sustainability and succeed in the Digital Economy.

Towards a customer-centric business

ETHIX-NG CRM solution helps financial institutions become more customer-centric, helping them to better manage their relationships with customers and business partners by automating manual business processes, enhancing generation of customer-related data, and facilitating effective communications with both current customers and prospects.

Next generation marketing

ETHIX-NG CRM takes marketing campaigns to the next level. Financial institutions can design campaigns and target relevant customers for more successful cross selling and up selling, with detailed performance measures providing valuable customer insights that can inform future marketing decisions. ETHIX-NG allows financial institutions to manage customer activities effectively and efficiently, by booking meetings and appointments that can create new opportunities and lead generation for cross selling and upselling activities.

Compliant customer onboarding

ETHIX-NG Customer Management interface is a multi-channel customer on-boarding solution that is intuitive, interactive, and user-friendly. The interface provides online customer opening forms that can be accessed at any time and from any device while remaining fully compliant with regulatory standards such as Blacklist, FATCA, CRS, AML, Risk Rating and Credit Rating.

Intuitive & agile

Designed with a three-decade-long understanding of customer onboarding related challenges, the ETHIX NG Customer Management interface is smart, comprehensive, and simple. Users have the flexibility to complete online applications in one session or save intermittently and come back later for completion. The flexibility of ETHIX NG Customer Management’s Configurability provides a future-proof solution that helps financial institutions adapt to a dynamic market and changing customer needs.

Customer satisfaction

With improved turnaround times and enhanced services, higher risk tolerance level and de-risking of business processes, ETHIX NG guarantees higher levels of customer satisfaction.guaranteed

Simple and fast

ETHIX-NG easily captures customer data from external sources with automatic data population making the customer onboarding experience faster and easier. The Card Reader can be used with identification documents including CIVIL ID cards, with data auto fetched and pre-filled into the application form reducing the need for additional typing or validation steps. ETHIX-NG also supports multiple biometrics for verification throughout the customer on-boarding journey in addition to allowing digital signature handling to support organisations aiming for a paperless workplace.

Dynamic Accounting Solution

ETHIX NG Accounting Entries Engine provides financial institutions with a dynamic mechanism to effectively and efficiently manage their accounting needs. The Engine provides for the setup of all needed financial entries for each business transaction and processes and supports online transactions posting 24/7 with the capability to future and back date entries. Financial institutions can simply create group of accounting entries to be posted automatically with the attached business purpose.

Powerful 3rd Party Interface

The Accounting Entries Engine provides a comprehensive interface for posting entries by authorized 3rd parties over the ESB layer, meeting today’s demand for 3rd party applications to post financial transactions directly to the institutions core banking system.

Automated Online Control

ETHIX NG Accounting Entries Engine empowers financial institutions with complete online control and viewing capabilities. The Engine realizes Foreign Exchange gain and loss instantly and posts the relevant accounting entries while also automatically generating Interbranch legs while simultaneously posting the transactions.

Automatic peace of mind

Provisioning is a process designed to secure a Financial Institution's financial position and ensure compliance with all financial and regulatory requirements. Provision Amounts represent the amount deducted from income to cover anticipated losses on finances and overdrawn accounts. ETHIX-NG Provision module automates the entire provisioning cycle, from setting up the criteria of calculation, to execution and GL reconciliation.

ETHIX NG Archiving Engine

ETHIX NG Archiving Engine equips financial institutions with the tools to safely, securely and conveniently archive old data to ensure regulatory compliance and for historical reference. Ensuring an effective archiving capability is important in order to offload the production environment with old or closed operations while complying with regulatory requirements.

Powering Business Processes

ETHIX-NG’s built in BPM Engine manages processes across multiple organizational business units, streamlining and simplifying your business workflow and enhancing organizational efficiency and effectiveness. The Engine, which acts as an enterprise middleware by transferring processes between different business units executes business processes uses the latest BPMN 2 specifications, offering businesses a systematic workflow approach that reduces human errors, enhances communication between stakeholders and builds effective collaborative processes between various lines-of-business within the organization.

Customized Layouts

ETHIX-NG bridges the gap between business analysts, IT and end users through process management features and tools that benefit both business users and IT. Users can build their preferred process with customized layouts to ensure every business process is tailored to business users needs and is easily understood.

Flexible & Adaptive

Real-life business situations can be complex and are not always easily described using a rigid process. ETHIX-NG supports adaptive and dynamic processes that require flexibility, allowing users to deviate from the process when needed including the ability to control which parts of the process should be executed.

Solution for a transforming industry

The Financial Services industry is undergoing continuous transformation. Businesses need a system dynamic enough to support these changes with faster time to market and lower total cost of ownership. ETHIX NG Business Rules Engine is a comprehensive solution with integrated core modules and front end modules and features designed to support any business rules and conditions, allowing the fast and reliable evaluation of business rules and complex event processing. The  Business Rules Engine can be used across all ETHIX-NG areas including Business Process Management, Workflow/Override, Systems Screens Validations, Policy Parameters and controls, Credit Scoring, Finance Pricing Matrices and much more.

Meeting Market Demand

In line with digital banking trends, ETHIX Mobile provides a wide range of functionalities including fully automatic and compliant customer onboarding, a comprehensive lending platform offering comprising lending request online submission all the way to the lending origination system, request following up, after-sales services submission and follow up, a full goal setup, spending categories monitoring tool and much more.

Next Generation Internet Banking

ETHIX Net is an easily configurable, cost effective and secure e-banking solution that provides financial institutions with a unified and centralized view of the customer and a single point of access to all dealings between the customer and the financial institution, including all retail and corporate relationships.

Micro Branch Expansion

ETHIX XTM, or the “eXtreme Teller Machine” is in fact a state-of-the-art micro branch that combines visual, interactive financial services and self-service technology to offer customers 24/7 secure access to financial services. ETHIX XTM facilitates Financial Institution expansion by providing a portable branch solution at a reasonable cost, leveraging the institutions current customer-base while attracting new customers fast!

Exceptional Customer Experience

ETHIX Mobile offers customers an exceptional on the go banking experience, providing a broad range of mobile transactions, from simple inquiries to complete subscription and redemption transactions and mobile alerting and payment models to satisfy the needs of every customer segment. The user-friendly Application is built with a native mobile development approach to provide the highest level of security, stability and performance on Android and iOS mobile platforms while supporting multiple languages for increased customer satisfaction.

About ITS

International Turnkey Systems (ITS Group) provides advanced technology solutions for banks, government, and other private sector organizations across a wide array of industry, with demonstrated technology competencies and high-end skill capabilities that support client’s critical business functions Headquartered in the State of Kuwait, with R&D facilities in Kuwait and Cairo and a presence throughout the Middle East, Africa, the Americas, the Caribbean and the Russian Commonwealth (CIS), ITS Global Business Solutions Development Center (GBS) in Cairo delivers Managed Services globally, bringing expertise to all stages of the software development process, and providing the support companies need to transition from legacy systems to new technologies. Our award-winning flagship solutions package, ETHIX, supports the digital transformation of financial institutions and is trusted by leading banks worldwide.

• Product Reviews
• 26.09.2022 06:50 pm

Redefining the financial services industry!

The financial services industry is transforming and ITS has launched ETHIX NG, a next generation core banking solution that empowers banks and financial institutions to succeed in the new business landscape. From ensuring compliance with changing regulations around data security to digital onboarding and providing a seamless omnichannel customer experience, facilitating collaboration with FinTechs, to driving innovation, a faster time to market and a structured approach to data analysis and reporting - ETHIX NG does it all, from one core banking platform!

Empowering Digital Transformation

ETHIX-NG Document Management System (DMS) engine, empowers Financial Institutions on their digital transformation journey, moving them closer to a modern, paperless work environment whilst streamlining business processes for a more efficient, collaborative and effective organization. ETHIX NG supports institutions in converting all hard copy documents to digital through scanning and uploading, so that all customer and internal operations can be performed using E-documents that can be securely integrated into the operation following the workflow rules and conditions.

Tenant Management on the Cloud

ETHIX-NG Multi Tenancy Module is a highly scalable, cloud-based platform that offers a compelling set of features for building services that many users will pay a subscription to use. The platform offers tenants their own domain name and customized login pages and provides an isolated environment for specific tenants.

Elevating Legacy

ETHIX-NG has a very comprehensive ESB (Enterprise Service Bus) Layer, which enables the effective communication between ETHIX NG and any older technology systems within the financial institution.

Supporting Transformation

ETHIX NG’s out of the box ESB Layer supports various protocol transformations, multiple languages, multiple data formats and spans a broad collection of capabilities, including but not limited to Application and partner integration, API management, B2B integration, Managed file transfer, High-speed messaging and In-memory caching. It provides authentication, authorization and encryption, both for incoming and outgoing messages, which complies with security requirements requested by service providers.

An Integrated Ecosystem

ETHIX NG ESB Layer Integrates over FTP, HTTPs, JMS, TCP or SMTP, among other transport protocols, and guarantees the stability of the overall ecosystem through a configuration driven development and elimination of point-to-point integration.

Controlled Notifications

ETHIX NG Notification Engine is a comprehensive messaging and notification system that supports the sending of a variety of different types of messages through various media. The Engine provides the financial institution with complete control to define notification content and type, whether it be SMS, E-mail, System Notifications or other, and to link the content to the overall system’s actions and dynamically connect it to the defined notification media and 3rd parties.

Seamless Customer Experiences

ETHIX NG Omni Channel provides banking customers with a seamless and consistent digital banking experience across all channels, allowing a customer to begin their journey on one device, whether it be a desktop, laptop, mobile or tablet, and finish it on another, without any interruption.

Facilitating Self Service

ETHIX NG Omni Channel facilitates customer interactions through various self-service facilities that enable them to accomplish banking and financial tasks on their own and through assisted service channels. Omni Channels leverages Customer 360° View, CRM and Content Management to support financial institutions to deliver exceptional banking experiences.

Controlling credit risk

ETHIX NG supports financial institutions in managing and controlling credit risk, providing the financial institution with a flexible end-to-end functionality combined with unmatched scalability to reduce risks and minimize human errors. ETHIX NG’s Intelligent Credit Analysis and Facility Granting module, allows financial institutions to control credit risk at all levels. This includes at the point of origination, upon individual account review, at the portfolio level, and also to control operational risk using ETHIX-NG standardized workflow to enforce credit management policies.

Accurate analysis

Financial statement analysis is a key process in Corporate Financing and ETHIX-NG Financial Analyzer provides unmatched flexibility in the ability to define financial spreading ratios and calculations. On the retail side, ETHIX-NG provides a template-based retail credit analysis, and according to the financial institution’s needs, a credit analysis template can be designed with the ability to create score cards for different products, define the factors inside the score cards and evaluate the customer automatically.

Eliminating guess work

ETHIX-NG’s Rule Based technology automates processes, including application approvals to create an effortless user experience. Using Industry-leading scoring technologies, ETHIX NG eliminates the guesswork in Financing and credit
decisions, even with high-risk clients. Its sophisticated self-learning algorithm supports the credit management operation in making faster and more accurate decisions, while its rule-based credit decisioning reduces the risk of non repayment. With ETHIX NG automatic or semi-automatic decision making that is made in seconds can ensure the financial institution is working with the right borrowers on the right terms.

Robust Collateral Management

ETHIX NG delivers a robust Collateral Management Engine that enables financial institutions to define collateral categories, such as Vehicle, Commodity, Property, Shares, Portfolio, etc. and design the needed input data by collateral category.

Supporting Exposure Control

ETHIX NG Limit Management Engine support the management of a financial institutions’ exposure due to customer activities. The dynamic Engine configures all limits aspects, including group and single limits, country limits, transactional limits and operational limits in regard to the Finance, Treasury, and Trade Finance operations.

Facilitating Workflow

ETHIX NG Limit Management Engine is an integral part of the operations performed by Users facilitating effective and efficient limit checking and utilization, with the Limit Engine controlling whether a transaction proceeds based on limit  availability. The Limit Management Engine provides financial institutions with the flexibility to define different lines of credit and or facilities to the customer that are both revolving and non-revolving, in addition to commercial and business credit lines, with the ability to set up commissions on unused balance limits with flexible maintenance for customer limits.

Elevating Lending Operations

ETHIX NG Finance Origination & Operation Engine supports Islamic aspects of Retail, Corporate, SME and micro finance lending operations, and provides a facility for the financial institution to conduct Project Feasibility studies and follow up for project-based financing deals.

Interactive Control

The Finance Origination & Operation Engine ensures seamless after sales operations, offering financial institutions an interactive and seamless capability to enrich control over changes that need to be conducted for finance payment plans, including rescheduling, shifting or postponing the plan. The Engine also numerous business operations to support settling up or cancelling the finance, considering all the financial impact in between.

A Culturally Intelligent Solution

ETHIX NG Multi Language Engine is a next generation solution designed to address the multicultural needs of today’s diverse banking environment, providing the tools to define languages at the system level, user level and customer level.

Powerful Language Capabilities

ETHIX NG Multi Language Engine is a highly efficient engine that defines multiple languages with a user-friendly interface providing the ability to align language from right to left or from left to right according to the bank’s needs. The powerful capability provides a unified language culture that customizes the format of numbers, currencies, times and dates.

Increased Satisfaction

ETHIX NG Multi Language Engine empowers employees to work in a language they are comfortable with and the bank to communicate with customers through SMS’s, emails, statements and other correspondence in a language of the customers’ choice, substantially increasing both employee and customer satisfaction.

Streamlining Financing

ETHIX-NG provides a complete end-to-end Financing management operations solution that brings origination, analysis, underwriting, documentation, and executive reporting together in a collaborative, streamlined way. ETHIX-NG addresses the workflow management needs for the entire Financing operations through a unified, relationship-centric view of the customer’s financial data, supporting documents and portfolio management capability.

Simplifying & automating the credit decision process

Financial institutions are faced with increasingly complex credit scenarios with the need to incorporate a variety of risk-related information about their customers. ETHIX-NG provides an integrated and easy-to-use solution built around the unique needs of the credit decision process. ETHIX-NG improves productivity throughout the entire credit lifecycle by centralizing information from many sources and by automating routine tasks. This also substantially reduces paper usage by providing a convenient electronic credit file.

About ITS

International Turnkey Systems (ITS Group) provides advanced technology solutions for banks, government, and other private sector organizations across a wide array of industry, with demonstrated technology competencies and high-end skill capabilities that support client’s critical business functions Headquartered in the State of Kuwait, with R&D facilities in Kuwait and Cairo and a presence throughout the Middle East, Africa, the Americas, the Caribbean and the Russian Commonwealth (CIS), ITS Global Business Solutions Development Center (GBS) in Cairo delivers Managed Services globally, bringing expertise to all stages of the software development process, and providing the support companies need to transition from legacy systems to new technologies. Our award-winning flagship solutions package, ETHIX, supports the digital transformation of financial institutions and is trusted by leading banks worldwide.