Tag Archives: FIN

PR Newswire

AmBank Group implements Kamakura Risk Manager for Basel 3 LCR and NSFR

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SINGAPORE, Oct. 5, 2020 — Kamakura Corporation, the global leader in advanced analytics for enterprise risk management, is pleased to announce that AmBank Group has successfully implemented Kamakura Risk Manager (KRM) to manage compliance with Basel III Liquidity Coverage Ratio (LCR) and Net Stable Funding Ratio (NSFR) requirements. AmBank Group is a leading financial services group with over 40 years of expertise in supporting the economic development of Malaysia.  

The Basel Committee on Banking Supervision reformed the LCR and NSFR ratios in response to the financial crisis to ensure that banks hold sufficient reserves of high-quality liquid assets (HQLA) and have adequate stable funding, to promote a more resilient banking sector.

Financial institutions want to do more by not only complying to regulations. They would like to integrate compliance functions with their enterprise risk management systems in a manner that is transparent and flexible. The enhanced Basel Committee rules have given them an opportunity to implement best practice solutions leveraging sophisticated technologies including big data analytics and scalability.

As one of Malaysia’s leading financial institutions, AmBank needs a solution that would meet its needs both today and in the future. It also requires timely and professional implementation. Kamakura’s software solution and subject matter expertise satisfies the bank’s requirements at every level.

Jamie Liang, Chief Financial Officer
Jamie Liang, Chief Financial Officer

Jamie Ling, Group Chief Financial Officer, AmBank Group said "Kamakura’s understanding of the local regulatory requirements is the key differentiator in our decision to select KRM. This is also based on the experience they shared with us and KRM’s capabilities of not just meeting the minimum requirements of regulatory reporting, but also the ability to forecast our LCR requirements in daily and stress test scenarios. We have also deployed KRM’s sandbox engine and analytics capabilities in our trading room which allow our traders to better manage the liquidity needs of our operations."

Clement Ooi President of Asia Pacific Operations
Clement Ooi President of Asia Pacific Operations

Dr. Clement Ooi, Kamakura’s President of Asia Pacific Operations, said, "In today’s ever-changing regulatory landscape, meeting minimum regulatory requirements alone is no longer a viable strategy for banks. AmBank, like other financial institutions, is looking for a long-term solution that also addresses regulatory requirements as they continue to evolve. Since the introduction of the Basel II Capital Framework in 1988, almost all new guidelines have called for robust cash flow calculations. Once KRM is implemented, the banks can select the appropriate module with efficient implementation plan. This has allowed AmBank to streamline project resources, optimise implementation time, and meet new regulatory requirements more quickly."

Wilson Yap SVP Head of Professional Services
Wilson Yap SVP Head of Professional Services

Wilson Yap, Kamakura’s Senior Vice President and Head of Professional Services, said, "We enjoy a long-term relationship with all our clients and know how to listen and respond to their needs. AmBank has been a client since 2010, and we have grown along with it. AmBank has deployed KRM Version 10, which was built from the ground up in 2018 and is now deployed globally. Version 10 offers faster processing speed, an intuitive user interface, and better accuracy. It is a complete enterprise risk management solution for banks and will help them meet all future regulatory requirements using a single database."

About AmBank Group

AmBank Group is a leading financial services group with over 40 years of expertise in supporting the economic development of Malaysia. We have over three million customers and employ over 8,000 people.

The Group was listed on the Main Market of Bursa Malaysia in 1988. It is the sixth-largest banking group by assets in Malaysia, with a market capitalisation of around RM9.0 billion and assets of RM169.2 billion as at 31 March 2020.

AmBank Group serves over three million individual and corporate customers. It provides services in wholesale banking, retail banking, business banking, investment banking and related financial services which include Islamic banking, underwriting of general insurance, stock and share broking, futures broking, investment advisory and management services in assets, real estate investment trust and unit trusts.

For more information, please visit ambankgroup.com 

For more information, please contact Syed Anuar Syed Ali, Executive Vice President, Group Corporate Communications and Marketing, AmBank Group at Tel: 03-2036 1703 or email at sasa@ambankgroup.com.

About Kamakura Corporation

Founded in 1990, Honolulu-based Kamakura Corporation is a leading provider of risk management information, processing, and software. Kamakura was recognized as a category leader in the Chartis Report, Technology Solutions for Credit Risk 2.0 2018.  Kamakura was named to the World Finance 100 by the editor and readers of World Finance magazine in 2017, 2016 and 2012. In 2010, Kamakura was the only vendor to win two Credit Magazine innovation awards. Kamakura Risk Manager, first sold commercially in 1993 and now in version 10.0.3, is the first enterprise risk management system for users focused on credit risk, asset and liability management, market risk, stress testing, liquidity risk, counterparty credit risk, and capital allocation from a single software solution. The KRIS public firm default service was launched in 2002. The KRIS sovereign default service, the world’s first, was launched in 2008, and the KRIS non-public firm default service was offered beginning in 2011. Kamakura added its U.S. Bank default probability service in 2014.

Kamakura has served more than 330 clients with assets ranging in size from $1.5 billion to $3.0 trillion. Its risk management products are currently used in 47 countries, including the United States, Canada, Germany, the Netherlands, France, Austria, Switzerland, the United Kingdom, Russia, Ukraine, South Africa, Australia, China, Hong Kong, India, Indonesia, Japan, South Korea, Malaysia, Singapore, Sri Lanka, Taiwan, Thailand, Vietnam, and many other countries in Asia, Europe and the Middle East.

To follow risk commentary by Kamakura on a daily basis, please follow:

Kamakura CEO Dr. Donald van Deventer (www.twitter.com/dvandeventer)
Kamakura President Martin Zorn(www.twitter.com/riskmgrhi)  
Kamakura’s official twitter account (www.twitter.com/KamakuraCo).

For more information, please contact:

Kamakura Corporation
2222 Kalakaua Avenue, Suite 1400, Honolulu, Hawaii 96815
Telephone: 1-808-791-9888
Facsimile: 1-808-791-9898
Information: info@kamakuraco.com
Website:www.kamakuraco.com  

Photo – https://techent.tv/wp-content/uploads/2020/10/ambank-group-implements-kamakura-risk-manager-for-basel-3-lcr-and-nsfr-2.jpg
Photo – https://techent.tv/wp-content/uploads/2020/10/ambank-group-implements-kamakura-risk-manager-for-basel-3-lcr-and-nsfr-3.jpg
Photo – https://techent.tv/wp-content/uploads/2020/10/ambank-group-implements-kamakura-risk-manager-for-basel-3-lcr-and-nsfr.jpg

Related Links :

SAS Risk Data and Analytics

PR Newswire

Diginex Lists and Begins Trading on Nasdaq

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Diginex is the first company with a cryptocurrency exchange to be listed on Nasdaq

HONG KONG, Oct. 2, 2020 — Diginex Limited ("Diginex" or the "Company"), a digital assets financial services company, announced today that it has completed its business combination transaction (the "Transaction") with 8i Enterprises Acquisition Corp. (Nasdaq: JFK) ("8i"), a special purpose acquisition company ("SPAC"). The Transaction, which was approved at a Special Meeting of Shareholders on September 15, 2020, creates the first listed company on Nasdaq with a cryptocurrency exchange.

Diginex Limited will trade on Nasdaq under the ticker symbol "EQOS" where it will offer investors the opportunity to participate in the growth of digital assets. The Company’s warrants will trade under the ticker "EQOSW".

Approximately US$50 million was raised, comprising both Diginex’s private raise completed in advance of the listing and the cash remaining in the SPAC. This will strengthen the Company’s balance sheet and will enable it to realize its vision to build a digital assets ecosystem that offers innovative product and services that are compliant, fair and trusted.

Richard Byworth, CEO of Diginex, commented, "This is a watershed moment for both Diginex and the cryptocurrency industry with the listing of the first-ever company with a crypto exchange on Nasdaq. This also presents the first opportunity for anyone trading in the US capital markets to buy directly into the equity of a digital asset ecosystem and opens the door for financial institutions to participate in the enormous opportunity that digital assets present."

"Diginex offers a unique set of innovative products and institutional-grade infrastructure. Our EQUOS.io exchange is regulatory-focused and will offer features such as segregation of duties, portfolio margining, and cross collateralization, which are not commonly available in the crypto exchange marketplace."

"While EQUOS.io forms the core of our ecosystem, we are also the first company to have an integrated offering comprising a regulated asset manager, cold and warm custody solutions, and capital markets advisory as well as a multivenue trading platform that plugs into some of the world’s leading trading technology providers."

Chi-Won Yoon, Chairman of Diginex said: "We are delighted to have reached this milestone for both the industry and Diginex. The Nasdaq listing demonstrates our commitment to bringing transparency and accountability to the digital assets industry. This should give investors greater assurance about the long-term growth and viability of this asset class."

Chardan acted as a financial advisor and Loeb and Loeb LLP acted as legal counsel to 8i. Winston & Strawn LLP acted as legal counsel to Diginex.

About Diginex

Diginex is a digital assets financial services company focused on delivering a cryptocurrency and digital assets ecosystem offering innovative product and services that are compliant, fair and trusted. The group encompasses cryptocurrency exchange EQUOS.io as well as an over-the-counter trading platform. It also offers a front-to-back integrated trading platform Diginex Access, a securitization advisory service Diginex Capital, market leading hot and cold custodian, Digivault and funds business Bletchley Park Asset Management. For more information visit: https://www.diginex.com/

Follow Diginex on social media on Twitter @DiginexGlobal, on Facebook @DiginexGlobal, and on LinkedIn. Follow EQUOS.io on social media on Twitter @EQUOS_io and on LinkedIn.

Forward Looking Statements

This press release includes forward looking statements that involve risks and uncertainties. Forward looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described in the section entitled "Risk Factors" in Diginex’s Registration Statement on Form F-4 jointly filed bv Diginex and 8i pertaining to the Business Combination (the "Form F-4"). Important factors, among others, that may affect actual results or outcomes include; the inability to recognize the anticipated benefits of the proposed transaction, which may be affected by, among other things, the amount of cash available following any redemptions by 8i shareholders; the ability to meet Nasdaq’s listing standards following the consummation of the proposed transaction; and costs related to the proposed transaction. Important factors that could cause the combined company’s actual results or outcomes to differ materially from those discussed in the forward-looking statements include: Diginex’s limited operating history and history of net losses; Diginex’s ability to manage growth; Diginex’s ability to execute its business plan; Diginex’s estimates of the size of the markets for its products; the rate and degree of market acceptance of Diginex’s products; Diginex’s ability to identify and integrate acquisitions; potential litigation involving Diginex or the validity or enforceability of Diginex’s intellectual property; general economic and market conditions impacting demand for Diginex’s products and services; and such other risks and uncertainties as are discussed in 8i’s prospectus filed in connection with its initial public offering and the proxy statement to be filed relating to the business combination.

Diginex expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Diginex’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

Related Links :

https://www.diginex.com

PR Newswire

Giift launches “GiiftPay”

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A Mobile Payment Loyalty App for SMEs and Consumers

SINGAPORE, Oct. 2, 2020 — Today, Giift, the Loyalty Marketplace specializing in the exchange of loyalty currencies (points, miles, gift cards, rewards) announced that it has launched GiiftPay, a Coalition Reward Program for SMEs and consumers.

 

 

A turnkey solution, GiiftPay enables merchants to enroll to the Giift Coalition Program, deploy it instantly through their payment gateway, and issue coalition points to consumers when they pay. GiiftPay also empowers merchants to create and push digital offers to millions of consumers driven by the Coalition Program and boost their business.

GiiftPay is a state-of-the-art solution aligns perfectly the interests of:

  • Small merchants, willing to be part of a large reward program, and to acquire additional customers from the program network;
  • Payment processors, gateways or e-wallets, ready to provide added value services to their merchants, in addition to their standard transactional solutions;
  • Consumers, eager to earn coalition points that they can redeem anywhere.

"GiiftPay offers a unique value proposition for payment gateways, mobile payment technologies, small merchants and consumers at the same time. With GiiftPay, we address a massive market made of thousands of payment processors and e-wallets, millions of SMEs and billions of dollars of daily transactions. Our objective is to deploy GiiftPay within such ecosystem," adds Pascal Xatart, Co-Founder & Director, Giift.

About Giift.com: Giift innovative end to end loyalty technology turns rewards programs into fungible currencies. Giift operates in more than 50 countries, with offices in New York, London, Singapore, Wuhan, Nairobi, Dubai, Jakarta, Mumbai, Colombo, Doha, and Dhaka. Giift business model is transaction based.

Logo – https://techent.tv/wp-content/uploads/2020/10/giift-launches-giiftpay.jpg

For more information about this story, contact:
pascal.xatart@giift.com
www.giift.com

 

 

Related Links :

https://www.giift.com

PR Newswire

Future FinTech Appointed Weicheng Pan as Chief Strategy Officer

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BEIJING, Oct. 1, 2020 — Future FinTech Group Inc. (NASDAQ: FTFT) (hereinafter referred to as "Future Fintech", "FTFT" or "Company" ) a leading blockchain e-commerce company and a service provider for financial technology, today announced it has appointed Mr. Weicheng Pan as Chief Strategy Officer of the Company. Mr. Pan will be responsible for the Company’s strategic planning, international M&A, investment and financing activities, and will support the management team to promote the Company’s global development strategy.

Mr. Weicheng Pan is an angel fund investor in China and a trainer for Chinese enterprises. Since November 2019, Mr. Pan has served as dean of Guangdong Jewish Mindset Business School and president of Malaysia Chengji Business School. From January 2016 to October 2019, Mr. Pan served as chairman of Chengji Group, a company incorporated in China.

Mr. Pan has conducted over 100 lectures in Malaysia and Singapore with over 10,000 students attendance with the "Jewish business thinking" as its main lecturing topic. In September 2019, Mr. Pan was awarded the Asia-Pacific Education Lifetime Achievement Prize. From April 2014 to December 2015, Mr. Pan served as an investment banking adviser of Huatai Securities and he assisted several Chinese companies listed on the ChiNext and NEEQ in China. Currently Mr. Pan serves as an independent director of the Board of TD Holdings, Inc. (NASDAQ: GLG)

In July 1999, Mr. Pan graduated from Wuhan University of Science and Technology with a Bachelor degree in Business Administration.

"Mr. Pan is a leader with innovative ideas and forward thinking. He has more than 20 years of experience in corporate strategic planning, M&A, financing and investment strategies, and has extensive expertise in negotiating and executing complex transactions. "Future FinTech CEO, Mr. Shanchun Huang, said, " Mr. Pan will greatly enhance the strength of FTFT management team and guide FTFT to a new growth stage. He has the business acumen to evaluate investment opportunities and has many successful M&A experience. We are very happy to have Mr. Pan as our chief strategy officer and join the Company’s management team which will benefit the Company and its shareholders."

Mr. Weicheng Pan said: "I am very happy to join a dynamic team such as FTFT. I am believe that with my years of experience and channels in global business, I could help the Company making the right decisions and providing new solutions to assist FTFT’s business transformation into challenger banking and online payment fields. I look forward to working with the FTFT team to implement our growth strategy in these new fields."

About Future FinTech Group Inc.

Future FinTech Group Inc. ("Future FinTech", "FTFT" or the "Company") is a leading blockchain e-commerce company and a service provider for financial technology incorporated in Florida. The Company’s operations include a blockchain-based online shopping mall platform, Chain Cloud Mall ("CCM"), a cross-border e-commerce platform (NONOGIRL), an incubator for blockchain based application projects. The Company is also engaged in the development of blockchain based e-Commerce technology as well as financial technology. For more information, please visit http://www.ftftex.com/.

Safe Harbor Statement

Certain of the statements made in this press release are "forward-looking statements" within the meaning and protections of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as "may," "will," "anticipate," "assume," "should," "indicate," "would," "believe," "contemplate," "expect," "estimate," "continue," "plan," "point to," "project," "could," "intend," "target" and other similar words and expressions of the future.

All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our annual report on Form 10-K for the year ended December 31, 2019 and our other reports and filings with SEC. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC’s Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.

 

 

 

PR Newswire

RENOSY ASSET Receives 2020 Good Design Award

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TOKYO, Oct.1, 2020 — GA technologies Co., Ltd. (Headquarters: Minato-ku, Tokyo; President, CEO and Representative Director: Ryo Higuchi; Securities code: 3491; "The Company") hereby announces that being at forefront of real estate investment service, RENOSY ASSET has received the 2020 Good Design Award.

The award recognizes the customer experience of RENOSY ASSET, which provides a seamless real estate service （*1） from property selection to loan review, contract signing and income/expenditure management, to be completed online. Group company ITANDI, Inc. (Headquarters: Minato-ku, Tokyo; Representative Director: Shinpei Noguchi) has also received the award for its self-showing rental website OHEYAGO（ https://oheyago.jp/）

*1 Some documents are still needed to be signed in papers and required to send it by post.

◆ About RENOSY ASSET (https://www.renosy.com/asset)

The Company provides an integrated and seamless real estate service (renting, purchasing, investing, renovating and selling) that leverages technology under the RENOSY general PropTech brand. RENOSY ASSET is an asset building service that leverages real estate. Through data-driven proposals that utilize AI and experienced agent support, The Company is providing an unprecedented real estate investment experience from consideration of investments to management of properties.

<Key points of design>

The three key points below were used to design the real estate purchase experience. (Quoted from the Good Design Finder winners list)

  • Fully non-face-to-face buying and selling of real estate via online meetings, IT-based disclosures, digital contracts, and loan applications（*2）
  • Availability of property information and income/expenditure patterns via QR code makes it possible to run various income/expenditure simulations for comparison and consideration
  • Contract documents for owned property such as monthly cash flow management and confirmation of new properties for sale can be saved as digital

*2 Loan applications at some financial institutions

<Comment from judge>

Online contract procedures are something for which demand has increased all at once due to the COVID-19 pandemic. RENOSY ASSET is designed to offer a real estate investment service that takes everything from property selection to contract signing, loan review, and income management online. The important thing when it comes to conducting high-priced transactions such as real estate online is securing the trust of both parties. Building a system to ensure transparency in the series of processes from gathering information on properties to the reviewing of process is sure to serve as a model when taking other operations and services online.

 ◆ RENOSY’s past and future pursuing a better customer experience

Based on the mission of "inspiring people with technology and innovation", The Company has worked on reforming the customer experience in the real estate domain since its founding. The real estate industry is an analog one with paper-based materials and contracts as well as telephone/fax communications still in wide use. As such, the customer must also deal with the analog nature of the processes, and digitalization is a challenge. On the other hand, real estate is a high-priced product, so ensuring a relationship of trust between the customer and the company is a key point for ensuring post-purchase customer satisfaction and designing the experience. The Company got its start selling real estate but has been working on digitalization of various processes since its founding and emphasizing the utilization of technology from these standpoints. By placing the same level of emphasis on real services such as face-to-face meetings and proposals by agents, The Company has provided cutting-edge real estate investment services that combine real estate and technology.

However, the way things are done in society continues to change dramatically in response to COVID-19. Business deals addressing the new normal are being sought after in various industries, and non-face-to-face transactions that leverage technology are gaining attention in the real estate industry as well. The Company has been promoting digitalization of the real estate transaction process for some time and, under the current circumstances, was able to launch a  fully non-face-to-face real estate sales 17 days after the declaration of a state of emergency.

The Company will work on further improvements of customer experience created by combining real estate and technology and promote research on building trust in non-face-to-face transactions in anticipation of the post-COVID-19 era. In so doing, The Company aims to create and share the next design.

 ◆ About the Good Design Award

The Good Design Award is a movement aimed at enriching our lives and society through design. Since the foundation in 1957, it has been commonly known together with the "G Mark", the symbol of winning the award.

Good Design Award has recognized various objects surrounding us, including industrial goods, architecture, software, systems, services and so on. No matter tangible or intangible, Good Design Award will take it as design, evaluate and honor its quality, as long as it is created to fulfill certain ideals or purposes.

Nowadays, in the increasingly complex society, our expectations for the role of design in solving problems and discovering new topics are evolving constantly. Through the screening and various ways of promotion, Good Design Award aims to provide support to those who have managed to identify the possibilities of design, explore what can be made happen with design, broaden the fields where design can play a role, and ultimately lead to the creation of the society where everyone can lead a rich and creative life.

URL:

https://www.g-mark.org/about/

 ◆ GA technologies Company Profile

Company name: GA technologies Co., Ltd.
Representative: Ryo Higuchi, President, CEO and Representative Director
URL: https://www.ga-tech.co.jp/en/
Headquarters: Sumitomo Fudosan Roppongi Grand Tower 40F, 3-2-1 Roppongi, Minato-ku, Tokyo
106-6290, Japan
Established: March 2013
Capital: 1,172,255,470 yen (as of August 31, 2020)
Business area(s):
-Management of RENOSY general PropTech brand (Real estate information media, real estate brokerage, real estate sales, design and construction, real estate management)
-Development of SaaS-based BtoB PropTech products
-Research on real estate-related big data utilizing AI
-Operation of overseas PropTech businesses such as Shenjumiaosuan platform for Chinese  investors Main group companies: ITANDI, Inc., Modern Standard Co., Ltd., Shenjumiaosuan Co., Ltd., and four others

 

 

PR Newswire

Itiviti’s sell-side OMS recognized for Best Equity Trading System of the Year at FOW Asia Capital Markets Awards

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SINGAPORE, Oct. 1, 2020 — Itiviti, a leading technology, and service provider of electronic trading and connectivity solutions to financial institutions worldwide, today announced that Itiviti’s sell-side OMS has won Best Equity Trading System of the Year at the FOW Asia Capital Markets Awards. The awards are judged by a panel of industry experts from across the market.

Luke Jeffs, Managing Editor, Global Investor commented: "Itiviti has demonstrated its market leadership by continuing to diversify its services and enhancing its trading technology in Asia. The Equity Trading System of the Year award is hotly contested and shows Itiviti’s strong commitment to innovation in the OMS space. We congratulate them on their prestigious win."

Designed for automation and built on a modular architecture, Itiviti’s sell-side OMS provides the flexibility, performance, and reach required to take advantage of new trading opportunities. The trading platform supports multi-asset, high volume trading throughout the order lifecycle while meeting the ever-changing regulatory requirements.

Ofir Gefen, Head of APAC, Itiviti commented: "We are delighted and honored to win Best Equity Trading System of the Year by the FOW. This is further validation of the excellent work and innovation done on our sell-side OMS to benefit our clients and partners. I’m very thankful to the FOW and our customers for this recognition."

Itiviti’s platform enables access to its extensive global community of buy sides and sell-sides via the NYFIX network, coupled together with a best-in-class OMS, to ensure efficient client onboarding, fast and reliable execution, risk management, and low-latency routing to any execution venue or trading counterparty, while its post-trade stack allows STP, custom reporting to clients, and regulatory compliance.

About Itiviti

Itiviti enables financial institutions worldwide to transform their trading and capture tomorrow. With innovative technology, deep expertise and a dedication to service, we help customers seize market opportunities and guide them through regulatory change.

Top-tier banks, brokers, trading firms and institutional investors rely on Itiviti’s solutions to service their clients, connect to markets, trade smarter in all asset classes by consolidating trading platforms and leverage automation to move faster.

A global technology and service provider, we offer the most innovative, consistent and reliable connectivity and trading solutions available.

With presence in all major financial centers and serving around 2,000 clients in over 50 countries, Itiviti delivers on a global scale.

For more information, please visit www.itiviti.com.

Itiviti is owned by Nordic Capital.

Logo – https://photos.prnasia.com/prnh/20190520/2471920-1LOGO?lang=0

PR Newswire

YouTrip Introduces Latest 3DS 2.0 for Enhanced Fraud Detection and Seamless Online Payment Experience

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SINGAPORE, Oct. 1, 2020 — YouTrip, Singapore’s leading multi-currency mobile wallet introduces 3-Domain Secure 2.0 (3DS 2.0) authentication protocol to offer enhanced security for online transactions, as e-commerce transactions are expected to be the new-normal of purchasing. YouTrip 3DS 2.0 technology provides a more seamless and secure payment experience compared to its 1.0 predecessor, reducing payment dropout and fraud rate by up to 50%. The latest 3DS 2.0 technology is the first update to the payment technology since 3DS 1.0 was launched in 2001.

Pandemic-driven Digital Shift

As consumers started relying more on online shopping during the Circuit Breaker period (April to June), YouTrip has observed a 300% quarterly growth in e-commerce transactions as compared to the same period last year. Seeing the upward growth in YouTrip transactions on local and overseas online merchants, YouTrip introduces 3D Secure 2.0 as an additional layer of security to reduce fraudulent activities in online transactions. A research conducted by Mastercard showed that consumers will continue to prefer shopping online than in-stores even after the pandemic, boosting the shift to digital commerce for safety and convenience purposes.

Ms Caecilia Chu, Co-Founder and CEO of YouTrip shares: "Seeing how our YouTrip users are channelling their travel spirit to purchasing items from all over the world, it’s more critical than ever that we ensure a secure payment experience so they can fully enjoy the convenience of online shopping!"

YouTrip’s 3DS 2.0

YouTrip has implemented the 3DS 2.0 technology, a mandatory protocol by European card schemes standards as of October 2019 to improve the customer payment experience for users in Southeast Asia region.

One of the pain points of 3DS 1.0 is the cumbersome payment experience that has resulted in 22% of payments getting lost during the authentication process. Typically, 3DS 1.0 requires users to input either a static password or SMS One-Time password sent a registered mobile number to verify their payment.

With YouTrip’s 3DS 2.0 in place, users will be prompted to authorise their online payments through their YouTrip app. By logging into the YouTrip app to authorise the payment, it ensures that the transaction amount and merchant being paid to is made by the user. The overall user experience of authenticating through YouTrip 3DS 2.0 interface is more seamless than its predecessor.

Enhanced Security to Combat Fraud

With 10 times more risk assessment data points than 3DS 1.0, YouTrip 3DS 2.0 provides a more robust risk-based authentication to screen online merchants. By analyzing over 150 key data points related to the transactions, YouTrip 3DS 2.0 technology is able to better determine if it’s an actual purchase by the user and reduces transactions being falsely declined. Within the first two weeks of launch, YouTrip has reduced the possibility of potentially fraudulent activities by 15%.

"YouTrip’s journey to creating the best mobile financial services in Southeast Asia has only just begun! We’ll continue to innovate and leverage our technological expertise to provide the best cross-border payment experience – both online and offline for our users," Caecilia adds.

Borderless Payment Experience

Beyond security enhancement purposes, YouTrip 3DS 2.0 expands online shopping options for users to shop securely from all 3DS-enabled merchants worldwide. The latest authentication process also allows YouTrip users who are based overseas to enjoy the same seamless and secure online payment experience, since the authentication process is done via the YouTrip app and not SMS One-Time-Password (OTP) to a Singapore number.

About YOUTRIP

YouTrip is a regional financial technology startup, dedicated to creating the best mobile financial services for travellers across Southeast Asia by simplifying overseas spending and creating a fuss-free travel experience. YouTrip first launched in Singapore in 2018 and subsequently in Thailand in 2019.

For more information, please visit www.you.co

Logo – https://photos.prnasia.com/prnh/20200514/2804174-1LOGO?lang=0

Related Links :

http://www.you.co

PR Newswire

Kharon Announces Barclays As Strategic Investor

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LOS ANGELES, Sept. 29, 2020 — Kharon, the research and data analytics company focused on global security threats and other controversies that impact global commerce and finance, today announced that Barclays has become a strategic investor in the business, joining Equity Group Investments, and other institutional and private equity investors.

Kharon’s offerings for trade, regulatory and financial crime compliance are recognized as industry leading and the news underscores its shared commitment with Barclays to innovation and data-driven intelligence.

Mark Gibbins, Head of Compliance Services, Barclays, said: “Having worked with Kharon for some time, we are pleased to be strengthening our relationship through this strategic investment. The investment demonstrates Barclays’ commitment to managing compliance requirements by utilizing data to enhance our technology and analytics solutions.”

Kharon’s regtech solutions provide firms across the globe with unmatched, critical intelligence and analytics on their customers, supply chains, investments, and risk areas. The result is reduced risk, realized efficiencies and the creation of value.

Matthew Epstein, CEO, Kharon, said: “We are delighted to welcome Barclays as a strategic investor. Barclays’ move from client to partner and now to investor, reflects our shared belief in the broad industry and geographical applicability of Kharon’s technology, analytic products and expertise.”

He added: “From risk and compliance teams seeking to strengthen KYC and screening processes; to technology providers keen to examine every stage of their supply chain; to investors looking to assess a company’s long-term performance; Kharon supports companies in a wide range of industries around the world. This diverse client base coupled with our groundbreaking technology platform has given us the strongest of foundations on which to continue to build.”

Equity Group Investments (EGI), founded by Sam Zell, has been an investor in Kharon since 2016. The firm’s President, Mark Sotir, commented: “In an increasingly challenging risk environment, Kharon’s unique data and analytics solutions provide highly relevant and differentiated compliance insights to its customers. We are pleased to be a strategic capital partner to a top-line specialist with a strong leadership team, and to welcome Barclays as a co-investor.”

About Kharon
Kharon is a leading provider of research and data analytics, focused on global security threats and other controversies that impact global commerce and finance. Kharon’s clients include first tier international financial institutions, global corporates, public sector entities and professional services firms. Kharon is headed by former senior officials from the U.S. Department of the Treasury, and experienced professionals in software development and data science.

For more information or to join the Kharon team, visit www.kharon.com and connect with us on LinkedIn and Twitter @kharondata.

About Barclays
Barclays is a British universal bank. The company is diversified by business, by different types of customers and clients, and by geography. Barclays’ businesses include consumer banking and payments operations around the world, as well as a top-tier, full service, global corporate and investment bank, all of which are supported by their service company which provides technology, operations and functional services across the Group.

For further information about Barclays, please visit www.home.barclays.

About Equity Group Investments
Equity Group Investments is the private investment firm founded by Sam Zell more than 50 years ago. Based in Chicago, EGI invests opportunistically across industries and geographies and throughout the capital structure. Current portfolio investments are in healthcare, energy, waste and infrastructure, transportation and logistics, agribusiness, and real estate. EGI provides flexible capital and employs an engaged ownership approach to maximize the potential of its investments. For more information on EGI, visit www.egizell.com.

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PR Newswire

Fosun RZ Capital Identifies IoT as the Major Key to an “Intelligent World”

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BEIJING, Sept. 26, 2020 — The IoT is the third technological revolution after computers and the Internet, connecting all surroundings in a shared environment to accomplish anthropomorphic perception and exchange of information. Cisco predicts that 50 billion IoT devices will be put into use by 2020, signaling the arrival of a fully intelligent era. By investing in RoboSense, a LiDAR solution provider with a foothold in IoT, and Yunding, an intelligent home platform using IoT technologies, Fosun RZ Capital helps industries become more digitalized faster pace to create a more accurate IoT.

Fosun Rz Capital
Fosun Rz Capital

"The Chinese IoT market is expected to witness significant growth with the CAGR of approximately 22.7% during the forecast period", according to the China IoT Market 2019-2025.(1) China made the "development of the Internet of Vehicles" a priority in 2017. Such action boosted the continuous innovation and improvement of AI and intelligent technology projects, one of which is auto-driving cars. LiDAR nowadays has become an indispensable sensor on most RoboTaxis, a leading product of auto-driving cars. RoboSense, invested by Fosun RZ Capital, seized the opportunity of the fast development of LiDAR, provides its LiDAR solutions for autonomous driving to many of the world’s leading enterprises. On September 17, RoboSense worked with Alibaba, a global leader in information system technology, and helped its DAMO Academy launch its first driverless terminal product, "Xiaomanlv,"(2)(3) creating a new wave in the logistics robot market. In addition to facilitating large-scale commercial use for last-mile delivery and commercial scenarios, RoboSense will seize every opportunity to upgrade its technologies so that robots and AI can be put into more practical use.

Nowadays, the IoT has long become an essential indicator of a country’s innovation capacity and industrial competitiveness. The explosive development of AI, 5G, IoT, along with the falling costs of core component accelerated the penetration of IoT. From keys to fingerprints, the changing forms of door lock signify the arrival of "intelligent life." Yunding has been carrying out technology innovation to offer the industry the most comprehensive intelligent lock detection solution. With the demand for rental apartments soaring, smart door locks have also become a necessity. Experiments prove that the "little black box," which is said to be able to unlock many electronic locks, cannot break Yunding’s locks, even with a high level of electromagnetic pulse attack for 3 seconds, proving Loock locks are convenient and safe. As for apartment operation, intelligent technologies can reduce people’s pressure on management while lowering operating costs. So far, Yunding has supplied products to more than 500 apartments, including over 80% of the top 100 apartment brands. Yunding also owns a 60% share in the intelligent lock market. Recently, Yunding has joined hands with industry leaders, including Xiaomi Security, Alibaba Cloud, Goodix, Silicon Labs, and Future Technology, to build an intelligent lock security laboratory to achieve information exchange among different brands. And to better serve the 8.5 million Yunding users. (4)

Fosun RZ Capital is vigorously exploring the IoT to create an innovative ecology for the technology industry. Research has shown that, by 2020, the digital world will capture 44 trillion gigabytes of data from the surroundings. In this contemporary digital world, innovative technologies provide data support and numerous interconnected devices for the IoT, changing people’s lifestyles in all aspects. Fosun RZ Capital will continue to focus on technology investments to boost IoT development and collaborate with brilliant companies worldwide to empower and share growth.

Reference:

(1) "Chinese IoT Market Outlook Report 2019-2025 – ResearchAndMarkets.com." Yahoo! News, Yahoo!, 25 May 2020, news.yahoo.com/chinese-iot-market-outlook-report-130700402.html.  

(2)  Daily, National Business. .@AlibabaGroup Launched Its First Robot Which Is Fittingly Named ‘Little Donkey’ as It Is Aimed for Logistic Purpose.The Robot Is Backed by AI and Autonomous Driving Technologies from Alibaba’s DAMO Academy, and Will Be First Adopted in Alibaba’s Cainiao Delivery Network. Pic.twitter.com/yHhw4D0GL4. Twitter, Twitter, 17 Sept. 2020, twitter.com/NBDPress/status/1306471868627517440.

(3) Tech, SCMP. "Alibaba Launches Logistics Robot for Last-Mile Deliveries to Lower Costs and as Pandemic Pushes Automation Https://T.co/itv4tchrOM." Twitter, Twitter, 17 Sept. 2020, twitter.com/SCMPTech/status/1306567843920719873. 

(4) "Yunding Technologies." Yunding, yunding.cn/. 

 

PR Newswire

Reserve Bank of India (RBI) Grants In-principle Authorisation to Set-up and Operate Bharat Bill Payment Operating Unit to Vakrangee Limited

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MUMBAI, India, Sept. 25, 2020 — Vakrangee Limited (VL) has been granted In-principle authorisation to set-up and operate Bharat Bill Payment Operating Unit (BBPOU) under the Payment and Settlement Systems Act, 2007 from Reserve Bank of India (RBI). Vakrangee can now directly handle payment and aggregation of payment services relating to bills under the scope of BBPS.

Nextgen Vakrangee Kendras exclusively offers a comprehensive range of products and services across banking, insurance, ATM, Financial Services, Assisted e-Commerce, e-Governance and logistics. With 70% of its Nextgen outlets in Tier-5 and 6 towns, Vakrangee shall have direct access to operate as an operating unit under the BBPOU and shall provide the Bill Payment service to its customers in the most remote and hitherto unserved/underserved parts of the country.

Commenting on this, Mr Dinesh Nandwana, Managing Director & Group CEO, Vakrangee Ltd said, "We are happy to announce that we have been grated In-Principle Authorisation to set-up and operate Bharat Bill Payment Operating Unit by RBI. Bill Payment service is one of the key services offered in our Nextgen Vakrangee Kendra Business Model and it gives confidence to our customers especially in Rural and Semi Urban centres.

"We believe that these NextGen outlets will enable every Indian to seamlessly benefit from financial inclusion, social inclusion, digital India, skill development, employment, government programmes and a wider access to basic goods and services."

This approval further expands our bouquet of services available to citizens through Vakrangee Kendras.  Vakrangee currently has 34,200+ (10,000+ Operational & 24,200+ under on-boarding process) which are spread across 32 States & UTs, 560+ districts and 7,250+ postal codes. More than 70% of these outlets are in Tier 5 and 6 towns. Vakrangee’s planned target is to reach at least 25,000 Nextgen Vakrangee Kendras by 2020.

About Vakrangee Limited (BSE Code: 511431) (NSE Code: VAKRANGEE)

Incorporated in 1990, Vakrangee is a unique technology driven company focused on building India’s largest network of last-mile retail outlets to deliver real-time banking & Financial Services, ATM, insurance, e-governance, e-commerce and logistics services to the unserved rural, semi-urban and urban markets. The Assisted Digital Convenience stores are called as "Vakrangee Kendra" which acts as the "One-stop shop" for availing various services and products. (www.vakrangee.in)

Media Contact:
Ammeet Sabarwal
Chief Corporate Communications & Strategy Officer
ammeets@vakrangee.in  
Ph no: 02267765100
Vakrangee Limited – www.vakrangee.in

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