BOFH

New FIS Wealth Management Platform Brings Rich Data Insights to the Client Relationship
  • New FIS Unity wealth management platform leverages advanced data analytics to give advisors rich insights into the financial needs of their multi-generational clients.

  • FIS Unity offers a single, 360-degree picture of clients’ financial assets across multiple financial providers through integrated APIs.

  • The solution leverages an innovative approach to workflow that automates and streamlines processes.

As investors of all ages seek advice for weathering the current uncertain investing environment, financial technology leader FIS https://www.fisglobal.com/™ (NYSE: FIS) today announced a leading-edge wealth management platform that gives wealth managers the data and insights they need to better understand and serve the needs of their multi-generational clients.

FIS Unity leverages open application programming interfaces (APIs) to provide wealth managers an integrated, 360-degree view of a client’s financial assets across multiple financial providers. Using the system’s industry-leading analytics tools and intuitive dashboards, wealth managers can gain insights into their clients’ investment history, lifestyle changes and investing preferences – enabling managers to offer personalized investment recommendations that meet clients’ current and future needs.

In addition, the platform makes use of advanced data analytics along with fully integrated workflows to automate and streamline processes, enhance efficiency and lower operational costs. The solution is appropriate for wealth management firms, wealth divisions of banks, trust companies, custodians and brokerage firms.

“Unprecedented levels of market volatility have made it more important than ever that wealth managers and advisors have a complete, accurate picture of their clients’ assets and remain connected anytime and anywhere,” said Brian DuVal, Head of Wealth and Retirement at FIS. “During this time, investors still expect accurate, insightful guidance when they need it, and the Unity solution prepares advisors with a rich, holistic view of their clients’ assets.”

AMG National Trust Bank chose FIS Unity to enable its advisors to provide a more personalized experience to the clients it has been serving for more than 45 years.

“We serve multiple generations of clients who all have very different expectations when it comes to investing,” said Don Seacrest, SVP Operations at AMG National Trust Bank. “By modernizing our wealth management system on the FIS Unity platform, we will be better able to address those differing needs and grow those relationships.”

Learn more about FIS Unity in this video
https://vimeo.com/395752972/0a4c2744d0 or on the FIS website https://www.fisglobal.com/capital-markets-solutions/investment-management-and-servicing/wealth-and-retirement/wealth-management/fis-unity-wealth-platform.

The post New FIS Wealth Management Platform Brings Rich Data Insights to the Client Relationship appeared first on The Fintech Times.

BOFH

The partnership combines o9’s Industry-leading Integrated Business Planning platform with HighRadius’ Deductions Cloud

o9 Solutions, a premier AI-driven integrated planning and operations solution provider; and HighRadius, a fintech enterprise Software-as-a-Service (SaaS) company specializing in automating the order-to-cash and treasury management processes; have partnered to deliver an integrated solution to eliminate friction between trade promotion planning and settlement process. The partnership enables customers to build commercial plans for different time horizons (e.g. long-range and annual operating plans) at category, brand and customer levels in the o9 integrated planning platform while benefiting from the HighRadius Integrated Receivables platform’s automated reconciliation of deductions capabilities to streamline processes and eliminate invalid claims.

Research from PwC indicates that there is $200B spent annually on trade promotions in the US alone. In particular, McKinsey and Co. research shows Consumer-Packaged-Goods (CPG) companies invest approximately 20% of revenue on trade promotions. Most companies are left to manage these complex trade promotions across thousands of retail and distribution partners with spreadsheets for planning and manual reviews of deduction requests resulting in higher costs of managing trade promotions and higher rates of invalid deductions being paid.

“o9 Solutions and HighRadius are two best-of-breed solutions that will be tightly integrated to transform the planning and execution of trade and promotion investments to drive higher ROI for our joint customers,” said Chakri Gottemukkala, CEO of o9 Solutions.

Both o9 and HighRadius are cloud-based, AI-powered enterprise software providers that solve complementary problems for numerous Fortune 500 clients. This partnership leverages deduction management capabilities of HighRadius® Integrated Receivables platform and o9’s commercial planning solution to enable customers to improve cash flows, financial performance, and channel relationships through fewer write-offs, accelerated collections, better customer communications and reduced overhead involved in managing deductions and trade promotions.

“HighRadius has a large and growing client list that are planning and executing complex trade promotions management schemes in industries like CPG, food and beverage and apparel,” said Sashi Narahari, founder and CEO of HighRadius. “HighRadius has historically helped customers process and clear trade deductions for such schemes with limited visibility and integration into trade promotions management (TPM) systems. Partnering with o9 will enable our clients to reduce the management costs and improve yield from their investment in trade promotions.”

The partnership is a natural extension of market trends around the further digitization and adoption of AI of core finance functions. These secular trends were further validated through the recent funding and unicorn valuation announcements from both o9 Solutions and HighRadius.

The post o9 Solutions and HighRadius Partner to Streamline Trade Promotion Planning and Settlement appeared first on The Fintech Times.

BOFH

Ingenico Group , the global leader in seamless payments, today reveals that within 18 months of going live, its Russian Payments Solution has outperformed all expectations with impressive payment volumes and customer adoption. It is now one of the fastest growing payments offerings from Ingenico ePayments, providing unique local acquiring and payment capabilities for international businesses selling online to Russian consumers in digital goods, retail, travel and more.

The success of the solution is credited to Ingenico’s deep understanding of the Russian financial system and partnerships it has built within the Russian banking ecosystem. Through these partnerships Ingenico developed a unique solution with local access to the Russian financial system and payment landscape providing local acquiring, local payment methods and multi-currency processing capabilities.

Ingenico has rapidly grown its new solution – up to a billion in USD flow in its first 18 months – and is seeing impressively high payment approval rates. By working with leading acquiring banks such as Sberbank and Alfa Bank, Ingenico has seen impressive approval rate increases of up to 20% for customers. A high approval rate is crucial for online businesses as it leads to more online sales, lower shopping cart abandonment and returning customers.

The Russian Payments Solution offers Mir (Russia’s domestic card scheme) and Russian e-wallets Qiwi and Yandex.Money. It supports domestic payments in multiple currencies in addition to the Rouble, including EUR and USD reducing the risk for Russian issuers. It is fully compliant with MirAccept, Russia’s equivalent of the 3D Secure authentication mechanism. Ingenico is also regularly adding new capabilities including a BSP feature for airlines with local acquiring, single report and single remittance.

The solution’s capabilities and outstanding performance have allowed Ingenico to successfully process 100 million payments from Russian consumers buying products overseas. Its success was further driven by an extraordinary performance during China’s Singles Day 2019, reporting record breaking transaction volumes and payment authorization rates. Already, the company has onboarded 10% of its overall merchant customer base, helping companies like All Nippon Airways, SHEIN, inCruises, Air China and Joom accept payments from Russia with ease.

Ingenico launched the Russian solution in 2018 as part of a strategic approach to help businesses target high growth markets including Brazil, Russia, India and China. Apart from growing fast, these countries have significant barriers to entry. Their unique domestic ecommerce ecosystems demand specific solutions tailored to local preferences. Ingenico is delivering solutions for these markets expeditiously as it sees massive opportunity.

Daria Nikolaeva, PR Manager for Europe at Joom, the fastest-growing shopping application in Europe, who were recently onboarded onto Ingenico’s solution, said: “Russia has historically been a tough ecommerce market to crack. With Ingenico’s unique and tailored solution we’re operating in this fast-growing market with ease.”

Mike Goodenough, General Manager, EMEA at Ingenico ePayments, said: “The first 18 months have been exceptional for our Russian Payments Solution as it is unlike any other available on the market. It’s a remarkable example of how we connect sellers and buyers. While Russian ecommerce is rapidly growing, we can support you to grow and scale further.”

To learn more about Ingenico’s offer for Russia visit: https://bit.ly/2TgKBgm.

More insights on Russian ecommerce: Cracking the Russian markethttps://blog.ingenico.com/posts/2018/12/cracking-the-russian-market.html

The post Ingenico takes Russian eCommerce by storm reaching 1 billion USD in transactions in the first 18 months appeared first on The Fintech Times.

BOFH

Primož Roglič beats Tadej Pogačar to Slovenian national road race title
Primož Roglič beats Tadej Pogačar to Slovenian national road race title
Primož Roglič (Photo by Tim de Waele/Getty Images)

The Jumbo-Visma rider becomes national champion for the first time in his career

BOFH

Al Salam Bank sponsors the Bahrain Institute of Islamic Finance’s Islamic Finance Handbook

Manama: Al Salam Bank-Bahrain announced the sponsorship of the Islamic Finance Handbook for practitioners, produced locally by the Bahrain Institute of Banking and Finance (BIBF), to further bolster Islamic Finance training, reinforcing the Kingdom’s position as a hub of the Islamic Finance Industry in the region.

The Islamic Finance Handbook will cover all major Islamic financial products and services covering ongoing developments including the expected growth in FinTech and Takaful Insurance. The Handbook will also document Bahrain’s contribution to the global Islamic finance industry by showcasing products and transactions that originated from Bahrain. The book will incorporate case-studies from Al Salam Bank Bahrain as well as interviews and thoughts from the Bank’s senior management on various aspects of Islamic Finance.

Rafik Nayed CEO of Al Salam Bank-Bahrain
Group CEO of Al Salam Bank-Bahrain Mr. Rafik Nayed

On this occasion, the Group CEO of Al Salam Bank-Bahrain Mr. Rafik Nayed said, “As the home of some of the most innovative financial institutions in the global Sharia-compliant landscape, Bahrain is at the forefront of the international Islamic financial services industry. Al Salam Bank-Bahrain is proud to play a role in supporting the continued growth of the industry and increase awareness on the ongoing developments within the sector.”

Dr. Ahmed Al Shaikh BIBF Director
Dr. Ahmed Al Shaikh – BIBF Director

The BIBF Director, Dr. Ahmed Al Shaikh said, “We’re pleased to see Bahrain again playing its part to foster the Islamic finance industry on a local and global scale, and we are grateful to Al Salam Bank-Bahrain – as one of the leading Islamic financial institutions in the region – for its continuous support to the industry.”

The BIBF’s Head of Islamic Finance Centre, Mr. Mujtaba Khalid, stated, “Currently, there are many academic and theoretical text books pertaining to Islamic finance around the world but there are very few – if any – practical handbooks for professionals with knowledge that can be applied in the workplace. Domestically, this will be the first practical handbook of its kind, which will facilitate applied knowledge for the industry.”

The BIBF Centre for Islamic Finance was established in 1997 to help promote the growth of both Islamic finance and banking. Today, the BIBF offers degrees and certifications, and conducts training in more than 27 countries worldwide.

About Al Salam Bank-Bahrain

​​​Al Salam Bank-Bahrain B.S.C (ASBB) is an Islamic bank headquartered in the Kingdom of Bahrain, and licensed and regulated by the Central Bank of Bahrain. ASBB was established on 19 January 2006 in the Kingdom of Bahrain with paid-up capital of BD 120 million (US$ 318 million) and commenced commercial operations on 17 April 2006. The Bank was listed on Bahrain Bourse on 27 April 2006 and subsequently on the Dubai Financial Market (DFM) on 26 March 2008.

ASBB completed its merger with the Bahraini Saudi Bank (BSB) on 22 December 2011. On 2 February 2014, Al Salam Bank-Bahrain and BMI Bank B.S.C. (c) confirmed the conclusion of a business combination between the two institutions after obtaining the approval of their shareholders at their respective extraordinary general assembly meetings, and of 30 March 2014 BMI Bank became a wholly owned subsidiary of ASBB.

ASBB offers its customers a comprehensive range of innovative and unique Shari’a-compliant financial products and services through an extended network of branches and ATMs, utilizing the state-of-art technologies to meet various banking requirements. In addition to its retail banking services, the Bank also offers Corporate Banking, Private Banking, Asset Management and Treasury services. The Bank’s high-calibre management team is comprised of highly qualified and internationally experienced professionals with proven expertise in key areas of banking, finance, and related fields.

ABOUT BIBF

The BIBF is the leading training and education provider in the region, and is affiliated to the Central Bank of Bahrain. The Institute plays a vital role in the development of human capital in the Kingdom of Bahrain, the Gulf region, the wider Middle East, Africa and beyond.

The BIBF’s commitment to excellence has strengthened its position as the leading educational provider across all major business disciplines. The BIBF serves as a partner to numerous world-class institutions; delivering Thought Leadership, Assessment and Training in the areas of:

  • Banking,
  • Islamic Finance,
  • Executive Development,
  • Accounting & Finance,
  • Academic Studies,
  • Leadership & Management,
  • Supply Chain Management,
  • Insurance
  • Digital Transformation & Project Management;

Resulting in a Complete Business Solution.

The post Al Salam Bank sponsors the Bahrain Institute of Islamic Finance’s Islamic Finance Handbook appeared first on The Fintech Times.

BOFH

Meet Tekkerz: Britain’s coolest team
Meet Tekkerz: Britain’s coolest team
Elinor Barker and Alec Briggs (Tekkerz, Daniel Gould)

Tekkerz are the new kids on the block – they are unconventional, stylish and do things very much their own way

BOFH

<div>Patrick Lefevere nearly sold stake in Quick-Step to Israel Start-Up Nation's Sylvan Adams</div>
<div>Patrick Lefevere nearly sold stake in Quick-Step to Israel Start-Up Nation's Sylvan Adams</div>
Sylvan Adams and Patrick Lefevere (Getty)

Before Lefevere brought Deceuninck on board a deal was all but agreed with the billionaire

BOFH

  • Receipt Bank acquires Xavier to power accountants with “better advice from better data”

  • Xavier adds data quality horsepower to Receipt Bank’s leading data accuracy

  • Product package increases value for 150,000 Receipt Bank clients using Xero

  • First acquisition part of strategy to provide advisory tools to accountants, as Xavier launches in Australia

Leading digital accounting platform Receipt Bank has acquired data quality specialists Xavier, boosting the range of advisory tools offered to accountants and bookkeepers.

Xavier automates complex checking of financial data with an easily understandable health score. It detects errors and anomalies in complex business data within accounting software, reducing the frequency and the cost of fixing them for accountants and bookkeepers.

The move, which follows Receipt Bank’s successful $73m January Series C raise, is part of the company’s strategy to provide products that power accountants to deliver advice to make business more successful.

Receipt Bank CEO Adrian Blair commented: “This is a leap forward in our growth plans for 2020 and beyond. With Xavier, Receipt Bank gives accountants the tools to offer better business advice based on better quality data at every step.”

Rich Nicolson, Xavier CEO, added: “Our mission has always been to create accurate data for effective accounting; being part of Receipt Bank allows us to fulfil that mission, at scale, with tens of thousands of accountants globally.”

Xavier now becomes part of the Receipt Bank product portfolio. The move consolidates two of the highest rated services in the Xero ecosystem.

Receipt Bank plans to expand the joint offer internationally in 2020, with Xavier springboarding into Australia this Autumn, following the launch business insights tool ‘Resilience’.

Receipt Bank saves and sorts data in one place, powering accountants with the tools to help businesses financially plan for the future. Xavier avoids costly data errors, giving accountants assurance and value for small businesses that their finances are in good hands.

The post Receipt Bank acquires Xavier appeared first on The Fintech Times.

BOFH

Lachlan Morton breaks Everesting record a week after failed attempt
Lachlan Morton breaks Everesting record a week after failed attempt
Lachlan Morton at the 2019 Tour of Utah 2019 (Photo by Chris Graythen/Getty Images)

It was second time Lachy for the Australian pro

BOFH

Sunday trading: 40% off a seriously rapid 3T Strada plus massive discounts off Shimano groupsets
Sunday trading: 40% off a seriously rapid 3T Strada plus massive discounts off Shimano groupsets

This week we’ve found a 40% discount on a 3T aero bike as well as whopping discounts on top end Shimano Dura-ace and workshop quality tools. With each product is a ‘Buy Now’ link. If you click on this then we may receive a small amount of money from the retailer when you purchase the […]