Insights success the 10 fastest growing financial solution provider companies

The way of business solutions

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IoT Business WillBoost The Economy

In The Next Decades

Provider Companies

10 Fastest GrowingThe

FINANCIALSOLUTION Provider Companies


FINANCIALSOLUTION

Jeff Carkhuff

Itron

Mark Nunnikhoven

Trend Micro

Are You Staying InNetwork

Secure Zone?

The Way of IoT’s, Smart Grid,

Smart Cities, Future goes

through Technology and

Network Convergence

José Antônio Scodiero

FAST COMPANY BRAZIL

Quartal Financial Solutions:Technological Excellence for Fee &

Commission Management

Thierry ZuppingerCEO

Chalk TalkChalk Talk

On the Finance

Grounds

On the Finance

Grounds

FinTech: The NextGen Technology

Financial ImmunityFrom Ination

Quartal Financial Solutions:

echnology is affecting every part of market affirmatively. TFinancial Industry is advancing every way of functioning according to the relative progress in technology. As the

primary motive remains to create user-friendly ways for day-to-day activities, financial institutes are making considerable moves towards providing convenient ways for Money Transaction, Market Provisioning, Investment Management, Insurance, Deposits & Lending, Capital Raising making payments, etc.

Mobile Payments, Streamlined Payments, Integrated Billing, Mobile Banking, P2P Payments, etc. are few popular and emerging techniques which are degrading the use of cash as a physical form. The risk of being theft, problem related to storage and troubles occurred during carrying money in large quantities are some of the reasons behind the boost of wireless technology’s effects on financial trades. Among many hurdles, security threat remains the most concerned area for the recent innovations. Possibilities of accounts being hacked due to sharing the details online is one of the most common fear of audience. To ensure the security, the technics like cryptography and biometrics are being promoted.

Smarter, Faster Machines are being built; Machine Accessible Data, Artificial Intelligence, Big Data, etc. are used for enhancing the speed. Having different extent of Convenience, Efficiency, Traceability and Protection, there are few solutions like- Open-Loop Mobile Payment Solutions, Closed-Loop Mobile Payment Solutions, Mobile Merchant Payment Solutions, Integrated Payment Apps, Streamlined Payment Solutions, etc.

The inventors are working on key characteristic like Cashless, Back of Mind, Engagement, Data-Driven, Increased Access to Loan and Reduced Costs for the future of Payment Solutions. It is very difficult for Financial Institutes to regulate their traditional services, management of team and upgrading the solutions all by themselves. It opens the gates for the Finance Solution Providers to enter the field to help these institutes to manage various parameters like, Security, Big Data, Technological Improvement, Digital Transformation, etc.

With the combined efforts of all the different parts of Industry, it can be convenient to assert that- all the ways of handling financial assets will be changed completely in near future.

Predictable

Future of

Finance

Industry

Editorial

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Editor-in-Chief Pooja M. Bansal

Art & Design Director Victoria

Picture Editor

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Managing Editor

Co-designer Alex Noel

Visualiser David King

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Technology Consultant Vishal More

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Ariana LawrenceSenior Editor

Co-Editors

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Marketing Manager Chris

Nick Adams,

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Vikram Suryawanshi

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CON TENTOn the Finance Grounds22

34 Chalk Talk

08

26

40

Cover S

tory

10 Ronald Barcellos

Financial Immunity From Inflation

FinTech: The Next Gen Technology

Provider Companies




FINANCIALSOLUTION

José Antônio ScodieroFAST COMPANY BRAZIL

Jeff CarkhuffItron

Mark Nunnikhoven

Trend Micro

42

38

36

32

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20BACKBASE: The Next Generation Digital Banking Software

CASHBOOK: MAKING BANKS & ERPS TALK

FAST: FLEXIBLE ARCHITECTURE. SIMPLIFIED TECHNOLOGY.

G2 WEB SERVICES: ENABLING BETTER ONBOARDING. STRONGER COMPLIANCE. FASTER DECISIONS.

PAYSETT CORPORATION: CHANGING THE WAY MONEY MOVES

PAYVERIS: DISRUPTING THE DISRUPTORS IN DIGITAL PAYMENTS

SECURONIX: SECURITY ANALYTICS. DELIVERED.

SQREAM TECHNOLOGIES: RISING ABOVE NEW BIG DATA CHALLENGES

IoT Business Will Boost The Economy

In The Next Decades

The world of the Internet of Things promises to be the main engine of the global

economy in the next years. In developing countries, such as Brazil, the opportunities will be even bigger. Considering the size of the local market and the pressing need that Brazil has in increasing the innovation rhythm, technology usage and development, the country can already be seen as a big global player by companies from this sector. In this moment, the more accurate motto for companies that want to act or are acting in Brazil is “Innovate or Die.”

After a cycle of more than 10 years of continuous growth, that put the country in evidence on the global landscape as part of the select group of so-called BRICs (Brasil, Russia, India and China) and that stressed even more its leadership in Latin America, Brazil is now entering, in the past two years, a moment of political tension that has reflected directly in the economy. The moment now is of reviewing and restructuring. But in spite of the perception of some foreign executives and entrepreneurs that this is not a good time to invest in the country, it is clear that Brazil had a virtuous cycle of many years and reached a higher level. All this indicates that, for sure, not all is lost. Far from it. The time is for opportunities.

With the stabilization of the smartphone market, there’s a great potential for the technology industry - especially in the semiconductors area - in business involving connected cars,

agriculture, livestock, smart cities, among others. To fully use this opportunities, it is necessary to understand in which ways it is possible to develop the best technological solutions to different regions. And the solutions to problems from different countries can only be found locally. Investing in the Right Time and in the Right MomentDespite the low participation of Brazil in the semiconductors industry, the country has a great potential to use the Internet of Things and to develop in this sector. It is a field in which no one has the advantage yet: we are, theoretically, in the same level as United States and China. Besides that, a chip to a sensor for IoT is cheaper and easier to develop than one made for smartphones. Therefore, it is less

costly to invest in IoT. In the technology world, the innovation chain has inverted itself recently, with the large domain of big multinational companies giving space to startups and new entrepreneurs. This movement creates a pulverization of opportunities. It is no longer something concentrated, in the domain of few big players like it used to be. There is space for companies from outside the country and also for the appearance of new local players that can learn and develop their own systems and foment the industry.

The technology giants, that lost a wave of opportunities that emerged with the mobile business (smartphones, tablets and M2M), now are moving rapidly so they don’t miss out on the opportunities that the IoT segment will

CXO Standpoint

-By José Antônio Scodiero, Director & Founding Partner of FAST COMPANY BRAZIL

| AUGUST 2016 08

bring. There are several examples in this direction and IBM is one of them, since its announcement, in December of 2015, to return to the consumer electronics market, ten years after selling its computer division to the Chinese Lenovo. The problem is that there are a lot of companies, big and small, repeating the same strategies in the search of its own space in the technology market. This needs to change. The motto “Innovate or Die” also needs to be applied in the planning.

IoT as a Transforming Agent of an EconomyAs well as in great transformations of the past, the revolution caused by IoT will change the entire landscape of the career scenario. It is estimated that in time, it will be possible to see 20 to 30 million jobs migrate, and some functions might disappear, thanks to robotics, intelligent machines and artificial intelligence (AI), that will infiltrate in new corporate areas and automate the positions that are repetitive and transitional.

But what it seems like bad news is in fact a readaptation, from work stations focused on operational to opportunities in areas that demands data analysis, ability to solve problems, think creatively, innovate and work within a team. Nothing too distant from the profile that today is comprehended as a good professional. It is an evolutionary movement, driven by technology.

If the job openings in operational work stations tend to drop, the opportunities to professionals that seek qualification and even reinvention will grow a lot. It is a market that, according to IDC, will grow about US$1, 7 trillion until 2020. This amount needs, and will be, shared among the professionals that manage to keep up with the demands of the market.

José Antônio ScodieroDirector - Founding Partner of FAST COMPANY BRAZIL

With over 30 years of experience in areas like information technology, personal computing, semiconductors, entrepreneurship and startups, José Antônio Scodiero has already acted as a high level executive in several big and successful international corporations like: IBM; Apple Computer; OkiData, where he was president of the Brazilian subsidiary, and more recently; AMD, leader in the semiconductors segment, where he held the position of Vice-President for the Latin America region. José Antônio Scodiero is graduated in Electronics Engineering with specialization in hardware and microelectronics and has an MBA in Corporate Administrations by Fundação Armando Álvares Penteado (FAAP). As an entrepreneur, he founded lots of startup companies since the 90’s, having created his first company when he was only 24 years old. In 2009 he founded Fast Company Brazil, with the objective of catapulting multinational organizations, from sectors like digital technology, semiconductors and software that are seeking to install subsidiaries in the Brazilian and Latin American markets. In 2010 he obtained the certification of Corporate Governance from the Brazilian Institute of Corporate Governance (IBGC) and started acting as a consulting advisor in companies in 2011. In 2012, he became president of the task force of semiconductors of AMCHAM - American Chamber for Brazil and USA. Still in 2012, Scodiero was also elected Director of SBMICRO - Brazilian Society of Microelectronics, where he remains until the end of 2016.

José Antônio Scodiero

Director - Founding Partner

AUGUST 2016 |09

CXO Standpoint

Cover Story


he traditional ‘Revenue and Expense Management Market’ definitely claims to provide efficient output but fails Tto mark up to the expectations. Today, there is a competitive space where multiple, specialized suppliers offer similar, predominantly buy-side focused, and software based solutions. Traditional in-house software or Excel-

based solutions come along with software problems such as poor visibility of processes, late report submission, time consuming processes, inaccuracy in data, lack of policies and incompatibility with changing processes, etc.

Conquering the problems caused by traditional revenue and expense management solutions, Quartal Financial Solutions (Quartal) is seeking to offer a disruptive approach to solve the revenue and expense management challenges of the established segment of the financial markets. Existing revenue and expense management solutions tend to focus on the calculation of fees and costs emanating from a single point-point interaction within the buy and sell side supply chain, (e.g. trade desk to exchange, asset manager to investor, fund manager to distributor, etc.). Quartal’s vision is based on a Service on Demand S-T-P model that can handle the revenue and expenses generated from any supply chain interaction from a single cloud-based Utility- Harnessing this with a partner ecosystem, it can also offer value-added services around business analytics (e.g. sales, fund distribution, client profitability), fee or expense reconciliation (e.g. exchange fees, distribution expense, etc.), smart contract management (e.g. digitization of trade agreements, IMAs, distribution agreements, service level agreements, etc.), operational managed services (e.g. outsourcing of fee or expense calculation processes) and data services (e.g. collection, aggregation, scrubbing or enrichment, etc.).

Regulations and profitability pressure cause financial organizations to revisit historic fee structures, operating models and distribution supply chains hence the traditional approach to revenue and expense management is no longer fit for the purpose.

Cover Story





The wave of technological advancement is forcing business models to reconstruct themselves completely, rather than just enabling IT to support existing business models. This is creating a vacuum for the right solution. Quartal’s offering is based upon the ability to fill this newly created void with a disruptive proposition based on a solid foundation that continues to enable the prevalent change and brings value to the customers that established solutions and competitors cannot. Quartal has marked its uniqueness and established itself as the leading European supplier and is now moving ahead to become the leading global solution provider for revenue and expense management.

CEO of Quartal Financial Solutions Thierry Zuppinger, CEO of Quartal Financial Solutions, has studied Management at HEC and University of St.

Gallen in Switzerland. Thierry joined Quartal 10 years ago, when the company was a small IT consulting company, and didn't yet have a standard product or solution to a particular problem. Thierry has a major contribution in the establishment of Quartal as a leading revenue and expense management solution provider with a standard product offering to the financial services industry that nowadays serves industry leading clients all around the globe. As a CEO, Thierry together with Quartal’s executive management team is responsible for all major decisions around Quartal’s business including the release of new products, closing deals and the company's future strategy, etc.

ProductsQuartal offers the most comprehensive and innovative solutions available in the market. It combines both, commission and fee management on one single platform, from calculations and payments to invoicing, controlling, allocations, modeling, forecasting and reporting. As such, they currently offer two leading products based on a single technology stack with one shared core- Quartal FEE MANAGER and Quartal COMMISSION. The Product is installed in multiple market segments covering asset management, wealth management and securities services. It has the ability to cover all aspects of the processing requirements for both the buy side and sell side operations with standard configurations available for each of the addressable industry sectors (e.g. asset management fee billing, third-party commission management, transaction fees, custody fees, servicing fees / expenses etc.) and

constitutes a componentized product that is scalable across small to large enterprises offering comprehensive value-added functionality and reporting along with a full audit trail and comprehensive workflow support.

Quartal COMMISSION is a multi-asset class commission and distribution fee management solution that increases transparency and accuracy in commission processing while reducing associated costs and risks. Being a flexible and innovative solution, it automates the calculation, allocation and reconciliation of distribution commissions and sales costs.

Our products are used worldwide bykey players in the industry to reduce operating costs improve accuracy and performance,and achieve faster return on investment

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Cover Story

The system offers a calculation and processing engine specifically designed and configured for all aspects of commission and retrocession management, allowing for rapid, reliable and transparent data processing, calculations and real-time reporting.

Quartal COMMISSION benefits from great modularity enabling clients to have a solution tailored to their specific needs.

Quartal FEE MANAGER is a multi-asset class fee and revenue management solution that increases transparency and accuracy in fee processing while reducing associated costs, risks and revenue leakage. It is a market-leading one-stop solution that automates the entire process from calculation to invoicing and all the way to reporting.

It offers a flexible and innovative solution for fee, revenue and expense management with a calculation and processing engine specifically designed for all aspects of billing/revenue management. This allows for rapid, reliable and transparent data processing and calculations along with a comprehensive suite of pre-defined reports presenting actionable data through dashboards, tables and charts.

SolutionsQuartal Financial Solutions provide solutions for Asset Management which includes Intuitional Billing and Distribution Commission Management; Wealth Management which includes Third-Party Distribution, External Asset Management and Client Fee Charging; Security Services which includes Fund Administrators, Transfer Agents, Custody, Clearing and Fund Platforms; Capital Market which includes Trade Fee Management and Execution & Clearing Commission Management; and Insurance which includes Distribution Commission Management.

Key CharacteristicsAutomated calculation of payable/receivable commissions, allocations and reconciliation on payments and holdings, contract management and workflow, sales controlling and scenario modeling VAT/tax management, flexible user interface and ad-hoc reporting, BI capabilities through dashboards and KPI controls based on leading technology, compliance with current regulations and provide a platform for future regulation compliance in relevant markets, customizable, modular offering provides flexibility to meet client requirements, global implementation capability based on a strong team of industry and product experts as well as local implementation partners for the market, are few of the key characteristics of Quartal’s Products and Solutions.

Cover Story

Benefits for the ClientsQFS’s revenue and expense management products offer the following measurable and well documented benefits to its clients:

• Reduction of costs and operational risk • End to end process auditability• Improved operational efficiency through the facilitation of an exception-based operating model• Reduced reliance on key workers through the embedding of knowledge within the solution• Regulatory compliance (e.g. MiFID II)• Avoidance of revenue leakage• Increased process and reporting transparency• Comprehensive information at the most granular level possible• Improved cash flow views and projections• Faster client onboarding• More flexible and more profitable SLAs• Straight through Processing• Business Oversight • Better availability and insight of customer data, allowing the introduction of new value-added services• Analytics for client profitability, distribution, fund, distributor performance, fund flows, asset classes, etc.• Possibilities for cost effective functional lift outs (white labeling) delivering greater value and increased profitability• Replacement of consolidation of numerous disparate legacy systems

Bird’s Eye View on the FutureQuartal have been in the revenue and expense management space for a long time and therefore comprehensively understands the market and have established a blue-chip customer base that uses their fee and commission solutions to meet their current point-to-point needs. Having recently extended their management team with some highly experienced members with proven experience of transforming and growing Fintech businesses, they have re-engineered their operating model, developed the vision and the delivery roadmap, initiated market testing and are now set to implement that vision via a clear, well-defined but aggressive and exciting growth plan. During the course of the last two years, they have won a significant amount of new business and have recently entered the US market by adding one of the world's largest banks to their client portfolio.

Cover Story

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The 10 Fastest Growing FinancialSolution Provider Companies

inance being the most crucial part of the society as well as the industry; possess many complications within the Fadministration. Corporate giants have cash flow of much extent that cannot be physically accumulated. In recent times, the traditional financial institutes are confronting with the changes in technology, which is

influencing the institutes to drop the comprehended ways of processing and to grasp the changing techniques. Furthermore, financial corporates are endeavoring to take the reward of globalization.

In this edition of The 10 Fastest Growing Financial Solution Provider Companies, we have listed finest 10 financial solution providers, which plays crucial role in the development of financial institutes. Backbase creates Digital Banking software that empowers banks to accelerate their digital transformation. Cashbook provides cash management software delivering more Automation, Functionality & Control. Payveris provides a cloud based open API digital payment and money movement platform. PaySett focuses on providing innovative payment software solutions. Securonix radically transforms enterprise security with actionable intelligence. G2 Web Services is a leading global provider of merchant risk management solutions. FAST is widely recognized as a leader of both on premise and cloud-based software solutions for the insurance industry. SQream Technologies provides organizations with an ultra-fast new generation GPU database capable of handling enormously large datasets with the lowest TCO available on the market today. C2FO enables collaboration between buyers and suppliers in a real-time marketplace to discover the unique price for early payment that’s profitable for both.

We have listed Quartal Financial Solutions as the Cover Story for this issue because of its comprehensive solutions and the remarkable business presence. Quartal is a market leading provider of award-winning fee and commission management, and revenue and expense lifecycle management software for the financial and insurance industry.

This issue includes Financial Immunity from Inflation and FinTech- The Next Gen Technology, from the editorial’s desk. The Evolution Revolution, Technology and Network Convergence and IoT Business will boost the economy in the next decades are included-CXOs from the Thought Leaders.

In this issue we have listed the Companies based on their performance, their innovative solutions and their contribution in the changing scenario of financial market. The articles and the CXOs are included to get the insights into the different areas of this particular market.

Provider Companies




FINANCIALSOLUTION

Cashbookcashbook.com

Greg CoulterCEO & MD

Cashbook provides cash management software delivering more Automation, Functionality & Control.

Payveris provides a cloud based open API digital payment and money

movement platform designed to enable financial institutions transform

their customers’ digital payment experience, focus on real benefits and

remain at the center of commerce.

Payverispayveris.com

Jeff WeikertPresident

PaySettpaysett.com

Benny CooleyFounder

PaySett Corporation is a global company focused on providing the most advanced Payment software on a global basis in the

most cost effective manner.

Securonixsecuronix.com

Sachin NayyarCo-founder & CEO

Securonix radically transforms enterprise security with actionable intelligence. Its purpose-built security analytics

platforms detect data security, insider threat and fraud attacks automatically and accurately.

G2 Web Services is a leading global provider of merchant risk management solutions, including due diligence, compliance

and fraud protection.

G2 Web Servicesg2webservices.com

Allison Guidette

CEO

FASTfasttechnology.com

Tom FamularoCEO

FAST is widely recognized as a leader of both on premise and cloud-based software solutions for the insurance industry.

Ami GalCo-founder & CEO

Qream Technologies provides organizations with an ultra-fast new generation GPU database capable of handling enormously

large datasets with the lowest TCO available on the market today.

Qream Technologiessqream.com

Backbase creates next generation Digital Banking software that empowers banks to accelerate their digital transformation.

Backbasebackbase.com

Jouk PleiterCEO & Co-founder

Quartal Financial Solutions is a market leading provider of award-winning fee and commission management, and revenue and expense lifecycle management software for the financial

and insurance industry.

Quartal Financial Solutionsquartalfs.com


C2FOc2fo.com

Alexander C. KemperChairman & CEO

C2FO is a financial technology company and the creator of the

first market for working capital. C2FO enables collaboration

between buyers and suppliers in a real-time marketplace to

discover the unique price for early payment that’s profitable for

both.

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Provider Companies




FINANCIALSOLUTION

S

Provider Companies




FINANCIALSOLUTION

New emerging technologies and user friendly applications have given rise to world

digitalization. While every industry is striving to become digital friendly, Financial Institutions are still lacking in progress. Even more so, FI’s need to react now if they wish to become in par with the ever increasing customer demand as well as the new technologies disrupting the market.

The financial industry is trying to increase their innovation efforts and digital investments to keep up with the new players in the market. The biggest threat of industry disruption is coming from tech companies, startups and neobanks. In addition, customers are

becoming more demanding and more informed, expecting convenience and simplicity when it comes to financial services, particularly online and via mobile devices.

To succeed in the market and beat the disrupters, banks should regain control of business strategy, and be able to build and deliver unique experiences to their customers. Their journey to digital transformation is about fundamentally changing how they attract, interact with and satisfy consumers, and it affects all levels of the organization.

On a Mission to Empower Financial Institutions

Backbase is on a mission to empower financial institutions to accelerate their digital transformation and effectively compete in a digital-first world. They created the Backbase Omni-Channel Banking Platform, a state-of-the-art digital banking software solution that unifies data and functionality from traditional core systems and new fintech players into a seamless digital customer experience.

Backbase gives financials the speed and flexibility to create and manage seamless customer experiences across any device, and deliver measurable business results. Backbase comes with widget

20

BACKBASE: e Next Generation Digital Banking Soware

JOUK PLEITER

CEO & CO-FOUNDER

| AUGUST 2016

Provider Companies




FINANCIALSOLUTION

collections for retail banking, commercial banking and wealth management. It can be used on top of any of the existing systems and helps financials to create customer-centric digital propositions.

Industry analysts Gartner, Forrester and Ovum recognize Backbase as an industry leader in terms of omni-channel banking platform capabilities, and award the company with high marks for its deep focus on customer experience management and unparalleled speed of implementation. Forrester named them a leader in the Forrester Wave for Omni-Channel Banking.

Jouk Pleiter, the CEO and Co-founder of Backbase Jouk Pleiter CEO and Co-founder of Backbase, the company which created the Backbase Omni-channel Banking Platform, the award-winning customer experience platform that helps enterprises create, manage, and optimize digital experiences across any device.

Backbase was founded in 2003 and is privately funded with operations in Amsterdam, Atlanta, London, Singapore and Mumbai. Global organizations such as ABN AMRO Bank, Barclays, Fidelity, GE, Hapoalim, Hiscox, ING, Legal & General, Nationwide, Westpac, OTP Bank, PostFinance, PZU, Sberbank, Al Rajhi Bank and SwissCard have all improved their online customer interactions and maximized online customer experience, retention and conversion, by leveraging Backbase’s technology.

Before Backbase, Mr. Pleiter was President and Co-founder of Tridion, one of the world’s leading WCM software vendors, later acquired by SDL and renamed SDL Tridion. Before Tridion, Mr. Pleiter co-founded Twinspark Consultancy, one of the first interactive web agencies in the Netherlands.

Allowing Institutes to Leverage its Previous InvestmentsThe Backbase Omni-channel Banking Platform helps to create rich, interactive web portals and mobile applications allowing clients to create, and manage deeply relevant customer experiences on any device.

Backbase comes with a complete set of integrated customer experience management functions, including- integrated content management, what-you-see-is-what-you-get editing, intelligent forms-based dialogs, secure application integration, cross device delivery, smart targeting, digital marketing tools, and integrated analytics. At the same time, Backbase offers robust enterprise security and application integration technology that help clients integrate their existing systems and applications with ease, enabling them to leverage their previous IT investments.

Powered by WidgetsThe Backbase Omni-Channel Banking Platform is powered by widgets, which are essentially stand-alone mini applications. They work like modular building blocks, taking the content and functionality they need from different underlying systems and combining it

into completely new applications. Widgets are incredibly flexible and they can be reused across multiple devices, combined with each other to create more dynamic contextual experiences, and wrapped in OS specific mobile containers to be deployed to any mobile device, channel, or app store.

Customer SuccessBackbase helps banks modernize and orchestrate all the customer touch points, transforming multiple siloed banking channels and legacy applications into a consistent brand experience that is easy to use and always available. It is optimized for easy integration with the existing business applications and a delivery of a unified and seamless customer experience across any device.

Backbase has developed digital banking solutions optimized for retail banking, commercial banking, wealth management and insurance specific scenarios. These customized solutions dramatically decrease the time-to-market by leveraging industry best practices and ready-to-go implementation accelerators.

Backbase puts banks in control of their own digital strategy, allowing them to create, manage, and optimize the end-to-end customer experience across every device. Backbase has invested in many years of R&D to give banks the right editing and digital marketing tools, and they need to take full control of optimizing the customer experience, resulting in more sales conversions, and greater customer satisfaction.

More than 70 large financials around the world have standardized on the Backbase platform to streamline their digital self-service and online sales operations across all digital touch points. Working with all of them, Backbase is continuously making progress in the technology and constantly offering new capabilities to more institutes.

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AUGUST 2016 |21

We create software that

is used by leading

financials of all sizes

across the world to

create customer-centric

digital experiences that

drive self-service and

engagement, fuel online

revenues, and maximize

their customers’

online experience

FINANCIAL IMMUNITY FROM

INFLATION

On the Finance Grounds

Hence, some of the best companies to own during inflation would also be those companies that can increase their prices naturally during inflationary periods. One should attempt to seek out the lowest cost producer. Look for businesses like commodity companies or healthcare names that possess the strongest profit margins. Finally, never underestimate the value of dividends during periods of inflation.

Invest in a HomeReal estate is a great investment when done for the right reasons. The problem in real estate occurs when one’s goal to trade a home versus buying a home to live in. Although many experienced real estate investors are able to find hidden values in properties, most individuals should focus on purchasing a home with the intent of holding it, even if for only a couple years. Real estate investments usually do not come to fruition over several months or weeks, but normally involve an extensive waiting period in order for values to increase.

There are many definitions of inflation, but in easy words, inflation is a decrease in the

value of unit currency. To understand this phenomenon lets us consider the number of candies one can but with one dollar. Today one can buy 2 candies for one dollar but ten years ago, one could have bought ten candies for one dollar. Now, the dollar is same and the candies are same, what changes here is the value of dollar.

From the above example, we can also learn that inflation is directly influenced by time and is continuously growing. In addition to the permanent rise in inflation by time, many other factors causing inflation to raise temporary at the domestic or international level. Inflation is generally categorized into Demand pull inflation and Cost push inflation. In Demand pull inflation the economy is at or close to full employment, and it leads to an increase in the price level. When firms reach to its full capacity, they respond by putting up prices

leading to inflation. In Cost pull inflation; if there is an increase in the costs of firms, the firms passes it on to consumers.

Cost push inflation can be caused due to Rising Wages, Import Prices, Raw Material Prices, Profit Push Inflation, Declining Productivity and Higher Taxes. Rising House Prices and Printing More Money also contributes for rising inflations.

There is no proven way to beat Inflation as there always lays some risk while investing for future. But following are the least risky ways to save you from inflation. Invest in StocksDespite the lack of confidence that most people often have about stocks, owning some equities can be a very good way to combat inflation. Corporations will sell their goods at increasing prices, which will lead to elevated revenues, earnings, and inevitably, stock prices.

22 | AUGUST 2016

Like land, home prices tend to increase in value on an average year-over-year basis. Real estate bubbles are usually followed by correctional periods, sometimes causing homes to lose over half of their value. But on average, housing prices tend to increase, counteracting the effects of inflation. Rather than holding money in a saving account, which will cause a major loss in purchasing power by retirement, real estate investments have the opposite effect.

Inflation-Indexed BondsThese bonds are a great way to beat inflation as they are designed to protect both principal and interest.

The basic mechanism of an IIB is quite easy to understand. Assume that the annual coupon, that is, the amount the investor receives at the end of the year on his bond investment, is 7%, and he has invested Rs 1,000 (his principal); in this case, he originally would have been paid Rs 70 at the end of the year. However, assume that the inflation index for the year is 10%. Through an

IIB, the 7% coupon is then applied to the new principal of Rs 1,100 (10% of Rs 1,000 + Rs 1,000), which comes to Rs 77 plus Rs 100 increment on the principal. Thus, the investor is sure to generate a return higher than the inflation rate.

Diversify GeographicallyAsset allocation is critical. In this, one can look at an opportunity is to diversify globally. This will make your portfolio more stable and less

vulnerable to domestic volatility and inflation.

Invest in YourselfBy far, the absolute best investment you can use to deal with an uncertain future that may include higher prices is to invest in yourself. Nothing is more effective in combating inflation than investing in yourself in order to increase your future earnings power potential.

This investment begins with getting a quality education and then constantly striving to learn new skills that will match those most needed in the future. It's not mere coincidence that higher the level of education, higher the pay and greater the chance for employment. Further education allows one to not only inflation-proof his/her salary, but also recession-proof his/her career.

More than stocks, bonds or houses,

investing in oneself is the

easiest and most effective way to

combat inflation, and any form of economic

turmoil is to increase your future potential

earnings power by investing in yourself today.

By learning from the past experiences and by understanding the algorithm of the causes and various effects of inflation, one can at least lower the effects of inflation.

On the Finance Grounds

AUGUST 2016 |23

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FINANCIALSOLUTION

CASHBOOK: MAKING BANKS & ERPS TALK

Money being a basic necessity of any company, financial services plays a

crucial role for Management. With the purpose to build super intelligent cash management software solutions, Cashbook is a successful provider of services which maximize the automation of high volume financial transactions. Reduction in time spent on cash management by 70% is achieved with the application of Cashbook.

“More of the Same”Why should a business write-off hard-won revenue every year because of outdated, inadequate processes and systems that no longer suit their needs?

Cashbook has an Order-to-Cash solution that talks to any ERP and any bank, replacing legacy processes in ERP’s with configurable work-flows which can be flexed to meet client needs. Knowing that, as businesses grow, their customers don’t respond by hiring additional finance people and

writing-off more deductions every year, Cashbook has removed the assumption that deduction write-offs need to be a certain percentage of sales.

The Cash Management suite provided by Cashbook competes against the standard, built-in processes offered by ERP’s and “more of the same” in Finance departments. The Cashbook approach is to address the full Order-to-Cash cycle, so they regularly compete with and beat Accounts

GREG COULTERCEO & MD

24 | AUGUST 2016

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FINANCIALSOLUTION

Receivable solutions such as Open Scan and High Radius. In the Accounts Payable Automation area they compete with Bottomline, in Bank Reconciliation it’s Trintech, and for the treasury solution, Cash Manager, it would be Sungard.

Leading Cashbook since 2002Greg Coulter, CEO & Managing Director of Cashbook holds a 1st Class Honours degree in Economics and Finance from the University of Otago in New Zealand and is a CIMA qualified Accountant. Greg joined Cashbook in 1999. He has completed Cashbook cash management software implementations in England, The Netherlands, America, Belgium, Ireland, Germany and Switzerland. In 2001, he was promoted to the role of Client Director and in 2002 to the role of CEO.

All of the Cash in One LocationThe complete cash processing approach makes Cashbook a Cash Management mini-ERP. They are a bolt-on system to any ERP, and can take over the full Order-to-Cash cycle. The key difference is that it all happens on a single platform: there aren’t separate systems looking at Accounts Receivable, Accounts Payable and Reconciliations. It’s just another day at the office for them when they handle partial payments and deductions, net across subsidiaries in different locations, drill down into individual transactions and then consolidate across business units.

To have all of the information residing on a single platform means that Cashbook is in a unique position to generate extremely insightful and highly actionable views around cash management for any company. With each new version release, they are moving closer to the vision of the future of cash management: True,

Predictive Cash Forecasting.

With great firmness, Greg states, “I want every company to be able to use their live and historical data to generate a genuine picture of their cash position

months in advance. This kind of predictive cash management capability will be an incredibly powerful tool for companies and an absolute game changer for finance departments.”

Tasting Success at Every Step“We’ve been developing, expanding and refining our algorithms for 25 years. That’s a sophisticated and immensely reliable resource for any company. Clients’ accounting talent and experience can never simply walk out the door with our automation and workflow capability. Customers vote with their feet and ours have never left us. Outside of a single example of a complete ERP change, we’ve never had a customer leave us”, answers Greg on a question about the customers’ satisfaction.

Typically, the customers see a drop in resource requirements for their daily accounting needs, or they can defer any headcount increases. A further common benefit is extra cash available from a drop in the Days Sales Outstanding (DSO). That comes with a corresponding drop in financing requirements and charges. If a business can decrease their DSO by 2 days, it’s the equivalent of getting a free line of credit from the bank, but better, since it's the company’s own money coming back to them faster. Cashbook also makes it easier for companies to pay as late as terms allow, further improving working capital.

“Additionally, over these 25 years Cashbook have accumulated a library of customer remittance and bank formats. Whether their customers use EDI or CSV, their banks use MT940 or BAI2, Cashbook customers can be confident that their investment is secure because it’s so adaptable.”

Extending Feats all Over the WorldCashbook can deal with elaborate Multi-code Deductions, Cash and Check Deposits in North America, Automate Drafts and Promissory notes in Europe and while at the same time Automate Factoring and complex Reporting Requirements in Asia. They have localized Cashbook into more than 50 languages, have sales and support teams in 4 countries and have the ability to offer support in over 15 languages.

At the moment, they have projects in North America and the Caribbean, Europe, Asia and the Middle East. They’ve expanded the technical and support teams by 35% in the last year to service the growing client base. And to top it all off, along with their CTO, Greg recently announced the Cashbook cloud solution which will be available in Q4 2016!

In a nutshell, Cashbook is to cash what Salesforce is to sales but with true ERPintegration

“

“

AUGUST 2016 |25

www.cashbook.com

n North America, utilities have installed nearly 70 Imillion smart meters over the last decade. This technology investment has delivered tangible value to

both utilities and consumers. But utilities have yet to realize the full potential of this platform and the value of the data these systems generate. This is primarily due to common challenges that utilities as well as technology providers have struggled with:

• Smart meters are viewed mainly as a cash registers and instruments of customer billing rather than as sophisticated sensors that provide a rich source of data and insight to improve grid operations. • For the most part, smart metering systems have been deployed in technology “silos,” meaning they run on purpose-built, largely proprietary networks that were designed for meter reading rather than on a standards-based, multi-application IP-platform. • These systems have created a relative tsunami of new data-more frequent and detailed usage data, event data from power outages and voltage anomalies and meter tamper alerts-data that utilities are struggling to manage and create new business value from.• More than smart meters, the term “smart grid” implies grid devices, assets and data interacting in real time and with less human intervention to respond to changing grid conditions. This degree of interoperability and automation has been elusive or cost-prohibitive thus far for the low-voltage level of the network.

Most of these challenges are technology-centered, while some are cultural and organizational, but the upside is that these challenges are being solved. Information technology and operational technology are converging rapidly in the utility and energy space to create a new strategic and operational reality. This comes none too soon in light of significant business challenges utilities worldwide are facing as well as the economic and environmental challenges we all face.

Led by companies such as Cisco and Itron, a growing ecosystem of smart grid technology providers have collaborated to evolve network architecture so that utility field area networks look and behave much more like enterprise IT networks. Solution providers are also introducing more distributed intelligence to grid operations that enable grid assets and devices that are currently

“siloed” to work in concert with one another. In addition, the available value stream of this network infrastructure investment is broadening by connecting to emerging markets and applications such as smart cities and the Internet of Things (IoT).

The heavy lifting really began four years ago when Itron and Cisco announced an agreement to work together to re-architect Itron’s widely-deployed OpenWay smart grid network to IPv6 architecture from Cisco. This joint development effort, undertaken by the industry leaders in utility automation and networking, was a watershed effort in the industry. The smart metering network became a multi-application smart grid and smart city network, broadening significantly its usefulness and value. A growing ecosystem of leading smart grid technology providers can now build to a common reference architecture through the Connected Grid Cisco Developer Network to accelerate adoption and spark innovation.

But standards-based, multi-application network architecture by itself was not enough to address all those challenges. Itron believes that for the smart grid to deliver on its promised value, data analysis and action must take place where it makes most sense-increasingly at the edge of the network rather than in the utility back office. That's the whole idea behind ITRON RIVA™, a new distributed intelligence and advanced communication platform the company launched this fall.

Distributing intelligence across the network allows us to economically solve utility problems that couldn’t be feasibly solved before, greatly increasing the value and timeliness of smart grid analytic applications as well as the

26

CXO STAND POINT

The Way of IoT’s, Smart Grid, Smart Cities, Future goesthrough Technology and Network Convergence

| AUGUST 2016

utilization of network capacity. Specifically, these development efforts yield a new and common set of technology attributes for meters, grid sensors and other types of intelligent devices, whether they come from Itron or third-party partners who embed the technology or build to the standard.

• Locational Awareness: For the first time, smart meters and grid devices know where they are in relation to other grid assets (feeders, phases, substations, transformers, distributed generation, other meters, etc.). This “self-awareness” opens up an entirely new approach to smart grid use cases and applications.• “Multilingual” Devices: A unified software platform supports multiple communication/application protocols, allowing a single meter or grid device to simultaneously speak the language of distribution automation, load control and smart metering. This enables highly localized communication and action among diverse devices, assets and grid control systems to respond to changing conditions at the edge of the network.• Edge Processing Power: Thanks to Moore’s Law, Itron is embedding the computing equivalent of a recent generation smart phone in high-volume meters and grid devices to enable advanced communications, data processing and analysis in the edge device.

The ability for edge devices to know exactly where they are, process and analyze data independently and communicate with other types of devices creates many new possibilities for improving the accuracy, resolution and timeliness of analytic applications. A clear opportunity exists to deliver new business value in areas such as localized demand response/load control, asset monitoring and management, outage detection and response,

renewables integration and diversion detection. This approach allows utilities to put intelligence where it makes the most sense, whether that’s in the edge device, the field area network itself or at the enterprise level, meaning analytics no longer must always take place in the back office where “tomorrow” or “next week” is no longer good enough.

Perhaps most interestingly, the Itron Riva distributed intelligence platform has enabled Itron to revolutionize grid communications. Known as adaptive communications technology, this capability incorporates multiple communications media-RF Mesh, Wi-Fi and Power Line Carrier-on the same chipset, working in concert to solve key network performance and connectivity challenges. Running on the OpenWay smart grid network, adaptive communications technology always utilizes the fastest and most reliable communication path for every message and every link based on location, network operating conditions and the nature of the application or data. This is true whether communicating with an office application or another device on the grid.

This makes deployment of network infrastructure easier, faster and less costly, while offering a single communications solution for both dense and difficult urban environments as well as lower-density areas. Adaptive communications technology flattens the cost curve during the latter stages of network deployment when the “hard-to-reach” devices and areas must be addressed. In other words, it provides a network that continuously self-optimizes based on geography, topology, operating conditions and business requirements.

Together, these developments mean that many utilities throughout the world are in a good position to leverage these recent and significant advancements in network architecture, edge intelligence and analytics as they implement their grid modernization strategies and connect to broader opportunities such as smart cities and IoT.

There is absolutely no doubt that the convergence of information technology and operational technology in the global utility industry will continue and accelerate, and that technology advancement will continue to outpace the asset lifecycle paradigm utilities have so long operated within. Nevertheless, thresholds are reached that warrant a shift in thinking about how to approach and solve problems. For tomorrow's grid, that time is now.

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FINANCIALSOLUTION

As the market grows increasingly competitive insurers around the globe are

re-evaluating their strategies to identify new avenues for growth while sustaining current business. Based on the lessons learned from the difficult years of economical downturn, insurance companies are equipping themselves for the future by relying on advanced technology applications and solutions. Although insurers are looking for ways to upgrade their

systems, reducing risk while fitting new applications seamlessly into the existing application portfolio seems to be a key challenge. In order to help insurers automate their legacy systems, get a better handle on risk, and meet future demands, FAST offers a unique componentized service-oriented architecture technology framework with pre-built insurance rules, workflows, and implementation services.

Improving Legacy Administration SystemsFounded in 2009, FAST is deeply rooted in the prior experience and knowledge of cutting edge technology in architectural concepts of its CEO, Tom Famularo. For Famularo, innovation is the driving force that has led his company's emphasis on automating solutions for insurance companies to simplify their complex technology environment and bloated business process. “We wanted to use

FLEXIBLE ARCHITECTURE. SIMPLIFIED TECHNOLOGY.

FAST:

TOM FAMULAROCEO

28 | AUGUST 2016

Provider Companies




FINANCIALSOLUTION

our experience and modern technology for building applications that will transform the insurance industry,” adds Famularo. By combining great software with deep expertise in technology and insurance processing, the company provides its clients with solutions ranging for smaller, targeted projects to broader legacy system transformation.

Pioneer of FASTTom Famularo, CEO of FAST oversees the strategy and ongoing operations. He is particularly focused on the company’s long-term product development strategy. Prior to FAST, Tom was the Head of Product Development at NaviSys, where he and his team built what went on to be the leading life and annuity system in the market for many years. Tom was instrumental in designing the NaviSys Front Office system and led the re-architecture of NaviSys Home Office. After Accenture acquired NaviSys, Tom was the global lead for the life insurance software unit.

Set of ServicesFAST offers a robust set of insurance software components that help augment or replace existing core legacy administration systems. Their offering is designed to provide insurance carriers various options to support their modernization strategy. These components can be used as the fundamental building blocks for carriers as well as a launch pad for customization. They may also be used to surround and starve smaller parts of larger legacy systems, or replace old systems entirely.

FAST has a true modern Service Oriented Architecture. This allows them to take a componentized approach to updating legacy systems

rather than forcing carriers into completely replacing systems. This approach costs less, requires less resources to build and manage, and dramatically lowers project risk. FAST has won several awards for their innovative architecture and the way they support carriers in their modernization strategy, making them truly unique in the market.

Lowers the Risk of FailuresFor the FAST team, it’s fun to solve hard problems. They look for people who have the resourcefulness, creativity and perseverance needed to solve the difficult issues insurance companies face in today’s marketplace.

FAST clients are seeing many benefits of using the FAST Insurance Components. These organizations are finally realizing that they can have a system that provides the fundamental building blocks they need yet still be

able to customize areas that make them stand out from their competition. Insurance companies are also seeing that a componentized approach lowers the risk of failure. These components allow them to take on smaller projects where they can see immediate value rather than waiting years for a single big payoff. FAST also has a specialized implementation plan that ensures their clients are successful with their purchases. This plan includes the use of highly trained partners like EY, Cognizant, PWC and Edgewater that support the project where needed.

Leveraging the Changing Scenario Twenty years ago carriers had teams of developers internally building and supporting systems. Since the financial crisis, carriers have dramatically reduced their internal IT resources and their internal core systems are paying the price. These legacy systems use obsolete code and are prone to break, presenting major roadblocks when it comes to new innovation. Carriers know they must make changes and are allocating more in their budgets to modernize and reduce maintenance costs to become more competitive in today’s ever-changing digital world.

Today these same insurance carriers are finally realizing that they don’t have to replace entire systems to meet their end goals of modernizing core systems. This makes the team at FAST more confident about the company’s future. They are also excited that carriers are starting to embrace technology again seeing that it adds real value. In addition, they see the introduction of IoT with more and more carriers and have started embracing these new technologies into their components.

““We enjoy building things - building great systems for our clients,building great software for our industry and building a great company

AUGUST 2016 |29

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FINANCIALSOLUTION

Financial institutions (FIs) supporting global payments must remain vigilant in the face

of rapidly-changing risks and fraud. With consumer demand, payment options, channels and places to shop evolving at a dizzying rate, fraudsters act before risk practices can catch up. Hundreds of acquiring and commercial banks, and their value chain partners, turn to G2 Web Services for help.

Industry InnovatorG2 is a Seattle-based global information and services business providing merchant risk insight that

helps financial institutions conduct safer, more profitable commerce. Founded in 2004, G2 derives its name from intelligence community jargon that describes mission-critical, risk-reducing intelligence.

G2 is growing and innovating to help clients work smarter and face emerging risk challenges. Recently, G2 improved its industry-leading merchant monitoring solution, Persistent Merchant Monitoring (PMM), by expanding into new hazards. PMM is the industry’s leading solution to monitor merchant websites for non-

compliant, illegal and brand damaging content. This month, G2 will unveil to a group of pilot clients the next-generation PMM portal, which offers significant speed, functionality and benchmarking improvements.

Pioneer of G2Allison Guidette, CEO of G2 Web Services is responsible for setting the strategic direction and for driving customer-centric innovation and growth. Allison brings nearly 20 years of general management experience in information and technology for professional services industries.

ENABLING BETTER ONBOARDING. STRONGER COMPLIANCE. FASTER DECISIONS.

G2 WEB SERVICES:

ALLISON GUIDETTECEO

30 | AUGUST 2016

Provider Companies




FINANCIALSOLUTION

Allison is one of the few women CEOs in the Fintech industry. In two years she has built deep client connections as well as launched award-winning services solving pervasive risk issues. As a result of Allison’s leadership and her support for a flexible workplace environment, G2 has won the When Work Works Award, recognizing its employee-centric HR policies, for the past two years.

“Initially, G2 focused solely on helping acquiring banks spot illegal and brand damaging content in websites of their e-commerce merchants. Over time we’ve expanded our services, namely into identifying risk at onboarding of new merchants and transaction laundering detection,” says Allison. “Today we also serve risk and compliance teams at commercial banks and third-party payment processors (TPPPs) by exposing unknown risk in their business customer portfolios,” she adds.

Preventing or Removing Merchant RiskThe foundation for G2’s merchant risk intelligence solutions is the G2

™Merchant Risk Platform , which combines web crawling, processing, classification and modeling to provide the most comprehensive view of merchant risk available in the market today. The platform houses the

®Merchant Map , a proprietary risk history database built through over a decade of partnership with acquiring banks around the world. The Merchant Map powers G2’s customer due diligence, compliance and fraud detection solutions, with data on millions of merchants and connections made through data science. The Merchant Map helps banks and processors discover bad actors and determine the likelihood that a merchant will engage in fraudulent activity. G2’s combination of technology, data and experienced analysts allows financial institutions to

improve regulatory and card brand compliance, gain portfolio transparency, and transform the way they monitor and manage merchant and business risk.

G2 also pioneered Transaction Laundering Detection (TLD), which identifies illegal merchants that are processing transactions through known merchants. Since the launch of TLD, G2 has continued to innovate detection techniques, leveraging data science and proprietary merchant risk history data, and has rolled out a new client portal.

G2’s Know Your Customer (KYC) Solutions help commercial banks and third-party payment processors improve their regulatory compliance, increase their operational efficiency and better manage risks that are difficult for financial institutions to detect with commonly used KYC tools. Applying its industry expertise, technology platform and expert analysts, G2 exposes hidden risks that could subject an FI to regulatory scrutiny and fines.

In one recent example, G2 used its Business Classification solution to uncover numerous businesses lurking in a bank’s portfolio that were on its “prohibited” category list. These

included a military-grade arms seller misclassified as a “hardware store,” a gambling business classified as “food and drink”, an adult entertainment business classified as “catering” and a bank that had warnings about excessive debit card fraud classified as “other.” The bank had far more risk in its portfolio than it was aware of, creating a disconnect on how it treated and monitored those businesses—and exposing itself to regulatory action.

In another case, G2’s Negative News solution revealed banks unwittingly doing business with individuals convicted of fraud related to reconstruction projects in the Middle East, a person on the Most Wanted List in Mexico for involvement in a major drug cartel and a company using deceptive and abusive advertising practices in violation of Federal regulations.

G2 offers these capabilities to acquiring banks through Portfolio Review, a menu of services that help banks validate merchant category codes and evaluate reputational risks with their merchants. Portfolio Review solutions help banks to Know Your Merchant, addressing regulator and sponsor bank requirements for periodic reviews of their entire portfolio.

A Future of Industry CollaborationAs Allison looks towards the future of G2 and the evolution of the payments industry, she is excited for the opportunity to help drive the collaboration needed to combat emerging threats. “Fraudsters increasingly use technology to commit their crimes as well as to network with like-minded organizations,” she explains. “G2 is committed to continuing to listen to clients, invest in innovation and partner with other “white hats” to ensure that our network and defenses are the strongest to meet these threats to the payments system head on.”

“

“Our platform has been

built through over a

decade of partnership

with leading organizations,

and uses advanced

technologies combined

with expert analysts to

deliver value to

our customers

AUGUST 2016 |31

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Recognizing that the International market required a more modern payment

software product, easier to implement and more cost effective at moving payments between organizations, Benny took the responsibility to provide one. Benny Cooley, Founder of PaySett Corporation worked in banking and electronic payment software companies prior to founding PaySett.

PaySett Corporation was founded in

2001 as a company focused on payment and settlement processing for financial entities. PaySett Corporation is a well capitalized, highly profitable company with no debt, operating in 13 countries and committed to changing “The Way Money Moves®”.

Innovating New Ways of PaymentPaySett offers a complete suite of products designed for the movement of money between financial institutions, corporations and individuals. At the National level PaySett offers both

batch (PaySwitch®) and real-time payment systems (PayExpedite®) for the movement of money between financial institutions. At the individual bank level, PaySett offers a complete payment engine (PayBank® and PayExpedite®) for the processing of internal payments for the global and the regional banks across their entire organization. Providing the financial institutions a product called PayCorp® which allows for the seamless integration of corporate payments into the banks internal and global payment

PAYSETT CORPORATION: CHANGING THE WAY MONEY MOVES

BENNY COOLEYFOUNDER

32 | AUGUST 2016

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FINANCIALSOLUTION

channels. PaySett also offers the financial institutions PayNow® which allows for the real-time processing of payments for consumers making online purchases and bill payments.

In addition to all the above services, PaySett also provides a range of supporting products such as PayCheque® for the processing of cheque images and PayAnalysis® for the data analysis of payments for fraud controls and marketing purposes.

Meeting the Needs of the ClientsPaySett offers a range of products and services for both real-time and batch processing of electronic payments. These products and services are offered for National payment switches, large global financial institutions, Central Banks and corporations. At a national payment switch level, PaySett products connect all the banks within a country into a real-time and batch environment that allows for the movement of money between the banks in the most secure, efficient and cost effective manner possible. Transactions requiring immediate processing flow over a real time network and transactions whose time sensitivity is less critical flow over a batch network at a more cost effective price. This gives the financial institutions and their customers the options to move money at the speed and cost that best meet their specific business requirements.

PaySett also offers a full range of products for providing a global payments cloud for global banks. These products and services allow a Global bank to operate across borders between their regional offices providing for the movement of money in both the real time and batch environments similar to what occurs at the national level. The benefits for the global bank are: Consistency and Control in the movement of money

throughout their organization while Insuring funds are moved at the speed, and Cost necessary for their organization. This allows the bank to create additional products and services

on top of their payment infrastructure for the global market to meet the needs of their corporate and consumer clients.

Effective, Secure and Cost Effective ServicesAll along with products and services, the clients of PaySett are benefited in many ways. For instance, the national payment system allows an entire country to benefit by the movement of money out of paper based systems (cheques, cash) into electronic payments. Electronic payments offer reduced costs, increased speed of transactions, more security and more transparency of the movement of money within a country. These benefits allow the country to be more competitive in the area of eCommerce. For the Global bank customers the

standardization of the movement of money across their entire organization allows them better insight into their payment processing needs of their customers. These institutions have a better platform on which they can add new products and services for their clients and insure that those transactions are processed efficiently, securely and cost effectively. Succeeding all over the World PaySett provides support and software products for clients in the USA, Latin America, Caribbean and Asia. Some of these are among the largest most trusted financial institutions in the world. Organizations such as ABN Amro, Royal Bank of Canada, CIBC, Barclays and Scotiabank depend on PaySett for their Payment processing needs. In addition to this, Paysett provides electronic payment, clearing products and services to 8 National payment networks in Latin America, Caribbean and Asia.

PaySett is currently investing in the area of digital ledger systems to enhance the movement of money within a country at a national level. Digital ledgers offer a potential increase in the speed of settlement of transactions for the movement of money. PaySett believes that the financial institutions will struggle with the concept of open access digital ledgers/blockchain, however, they will be more aligned to pursue private digital ledgers/blockchain systems. Benny adds, “There are payment inefficiencies that can be eliminated in our client's core banking and national network switches by the use of private/permissioned digital ledgers.”

“

“We empower

Organizations

to Change

The Way

Money Moves

AUGUST 2016 |33

FinTech:

TECHNOLOGY GEN The Next

TECHNOLOGY

companies are attracting customers in mass.

FinTech Advancements in 2016FinTech firms propound digital financial services and alternative financial instruments via the internet, digital payments including electricity, mobile bill payments etc., cross-border peer-to-peer payments and e-Commerce transactions. Businesses use FinTech for marketplace lending (peer-to-peer platforms) as well as personal loans. Recently, Robo-advisors are engineered for effective wealth management services. Online Crowdfunding (equity-based) and Venture Financing are the two major services FinTech focus on. Recent statistics accounted the Transaction Value in the FinTech market to mUSD 769,323.4, and the average transaction value per user in the Digital Payments segment sums to USD 2,683.82 in 2016. The transaction peak value globally reached is in the U.S.

Financial Technology or FinTech is completely transforming the way financial services

companies function and how the businesses buy, protect and manage wealth in this FinTech era. In 2016, the greatest challenge for the banking industry is FinTech. FinTech is although the latest trend in this domain, it cannot be said as a new one. In the past, it referred to a group of modest startups offering online lending or retail-payment services.

FinTech has entered the mainstream swiftly. Now, it is not constrained with mere startups. Some prominent FinTech companies include Lending Club, business giants such as Google, Apple, and Samsung. The novel services delivered by such companies comprise Financial Services Applications, which are often more effective and less expensive than the conventional companies. With the copious services offered, FinTech

Financial Growth through FinTechModern businesses can reap great profits by the effective utilization of the new technology. Apart from spending more money on in-house product development, evaluating third-party technology providers on the basis of what they provide and how well the technology suits the business, software and applications that fit for the business can be integrated into it. Before selecting any solution, an organization must identify its investment themes, evaluate credit card exposure, manage the counterparty risk and so on. Entering into a FinTech pool hassle-free leads the business to the market's paramount, expanding upon the organization’s core market.

Every organization should widen their institutional expertise to screen pioneering technologies that arrive in the market, in a constant manner. The expertise must include perception into client preferences, the features to integrate new technologies and undo when newer ones arrive and to establish external links with other companies. Many of the well established companies have adapted this technique to amalgamate new technology with their business. They train their employees and mentor properly in order to acquire the necessary skills.

Bank-FinTech Effective AssociationThe Bank-FinTech association is an effective way for the banks to enter the FinTech ecosystem, which aids in smooth functioning and positioning them at the very core of the industry that redefine payments. FinTech startups are always open to receive support and investment from the banks in order to initiate their business,

Chalk Talk

34 | AUGUST 2016

develop and achieve their targets. Without any doubt, FinTech brings in-depth technology expertise along with enhanced design speed and manufacture rate. However, bank’s expertise in the ins and outs of the payment systems and choice of services is matchless.

Up-And-Coming FinTech FutureCertainly, FinTech is going to have a bright future in 2016 as well as in the upcoming years. FinTech companies assist in instructing consumers to make better financial decisions, protect their assets from frauds, enhanced online shopping experience, encourage investment and much more. Innovative FinTech companies like Invoice Ninja provides services for helping small business owners get their invoice bills

paid faster. And several other companies like Trulioo is seeking new solutions that make financial institutions and businesses integrate with new compliance directives within their transaction processing software.

Wealthfront, Addepar and Robinhood aim at empowering investors by making them feel comfortable and relax enjoying the splendid benefits from FinTech. Firms like LendUp offer customers, that banks usually decline, providing them with lower credit scores access to short term loans without any rollovers or hidden rates and also in low interest rates. Similarly, companies like SoFi are supporting businesses and customers to refinance the existing loans, education loans and mortgages to get better rates, thereby

increase financial status. Another FinTech company LendFriend gives opportunity to individuals to borrow and lend money to their friends, family or relatives, or whomsoever they wish.

FinTech innovation has the potential to transform financial service firms. The smart and fast technology has the capability to win the market, whether it is alone or whether they sell into or collaborate with existing providers. The ultimate beneficiary of FinTech is literally the customer. There is no doubt that FinTech will reign the financial services firm with its utmost powerful services and tactics that lead to supreme successes.

Chalk Talk

AUGUST 2016 |35

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FINANCIALSOLUTION

Payveris offers an industry leading cloud based open API digital payment and money

movement platform designed to enable financial institutions to transform their customers’ digital payment experience and capabilities. The platform enables banks and credit unions to take complete control of their users’ experience, reduce operating overhead, costs, and risk; and accelerate the creation of new innovative payment experiences. The company’s secure cloud-based platform supports a broad ecosystem of digital payment and

money movement services including electronic bill payment, presentment and management, person to person (P2P) transfers, external (A2A) account to account transfers and business payments all through a single unified platform.

Along with their open API, cloud delivery model and single platform approach to digital payments, Payveris brings extensive financial services industry and deep payments technology experience to everything they develop. They focus on

developing solutions to empower their financial institution clients and partners to capitalize on the emerging market trends in payments while continually enhancing their solutions to provide their clients and partners a competitive edge.

A Unified Digital Payment Hub and Platform ApproachWhile Payveris’ competitors in the payments space offer payment services through disparate point solutions, Payveris’ separates itself by providing an innovative digital payments solution

PAYVERIS: DISRUPTING THE DISRUPTORS IN DIGITAL PAYMENTS

JEFF WEIKERT

PRESIDENT

36 | AUGUST 2016

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FINANCIALSOLUTION

that supports a full range of payment and money movement use cases all from a single unified platform. The platform supports multiple funding methods, intelligent payment routing, an integrated messaging engine, and integrated fraud and transition risk management to support a wide range of consumer and business payments. Additionally, Payveris’ unified approach offers financial institutions the ability to consolidate redundant payment systems, reduce operating costs, improve fraud mitigation, and simplify access to user and transactional data across all payment types with the most advanced FI-centric digital payments platform in the market today.

Leveraging the Cloud and Open API’s Working with Payveris provides banks and credit unions with the opportunity to regain control of their destiny and better compete in today’s highly competitive landscape while improving the user experience and reducing operational costs. Payveris’ digital payments platform features a 100% open API approach that provides their clients with the ability to take complete control of and reduce friction in user experience and create innovative new payment services much quicker. Through its open API structure, the Payveris digital payments platform enables clients to connect to internal and external applications and add features and transaction types without compromising the user experience. By capitalizing on the value of cloud computing, Payveris is able to offer cost effective, high availability, secure, and scalable digital payment services at a fraction of the cost of its competitors. This enables Payveris to offer its services at a lower cost than

their competitors and focus more of its capital on payments innovation rather than system maintenance.

Continuous Innovation is the Key Payveris believes that technology can

be the great equalizer for banks and credit unions seeking to protect their customers or members from disintermediation by the alternative and nonbank providers. However, banks and credit unions will need the technology a technology partner that not only enables them to innovate faster and keep up with consumer and business demands but in future, take the lead. Through their unique platform, Payveris believes that they can empower the traditional financial institution to innovate faster, take control of their destiny, transform the way their customers make payments, and recapture their position at the center of digital commerce.

The Benefits of Partnering with PayverisClients and partners value the control,

extensibility and flexibility of the Payveris digital payments platform. By utilizing the Payveris payments platform, financial institutions can provide a completely integrated and seamless payments experience into their online and mobile banking channels. Financial institutions have also used the platform to solve unique and specific business challenges related to their business customers’ payment experience. Financial institutions value the positive user experience that it enables them to offer to their customers or members and appreciate the competitive advantage the technology offers them, particularly the ability to differentiate their payments offering from large money center banks and non-bank FinTech companies. This differentiation is highly valued to Payveris’ financial institution clients and the consumers they serve.

The Leader behind PayverisJeff Weikert, President of Payveris is responsible for leading all aspects of the company’s growing digital payment enterprise. Before joining Payveris, he spent 30 years in the financial services and technology industry in a variety of executive roles at notable firms such as Deloitte and Touche, Bank of America, SunTrust, Deluxe, CheckFree and RewardsNOW as well as innovative payment start-up, Verient. He has served and supported more than 3,500 banks, credit unions and service providers in his various roles.

Weikert earned his MBA in business administration and management from Georgia State University and a Bachelor’s degree in business and psychology from the University of Dayton.www.payveris.com

“

“To compete in a dynamic

and evolving payments

environment, banks and

credit unions need to

start thinking more like

technology companies and

take a close look at their

digital payments experience

from the customer’s or

member’s point of view

AUGUST 2016 |37

Provider Companies




FINANCIALSOLUTION

Why do robbers rob banks? Because that’s where the money is. Just as financial

institutions have always been prime targets for traditional heists, they are also bombarded by cyber-attacks, data theft, insider abuse and fraud. That’s why financial services organizations invest heavily in cutting edge, best-of-breed security solutions like Securonix. One in three Fortune 100 financial services companies are now Securonix customers.

Securonix Solves Critical Security Problems With Behavior AnalyticsSecuronix was the first to apply user and entity behavior analytics (UEBA)

to information security and is now the industry leader in the UEBA security space. UEBA is a machine-learning capability based on a number of technical components including data analytics, data integration, data visualization and source systems analyses. Securonix solutions analyze volumes of data-at-scale to establish baselines of normal user and system behavior, and flag suspicious behavior outliers that indicate high risk of a threat. The result is a sophisticated security analytics platform that detects cyber threats, advanced persistent threats, insider threats and fraud in near real-time.

Securonix is fast becoming the next big thing in financial services security because it answers the question chief information security officers (CISOs) have been asking since day one: How do I know when something is happening in my environment that shouldn’t be?

End-to-End Security Securonix provides the industry’s first complete, end-to-end, UEBA cyber security solution. Securonix solutions are purpose-built to mine, enrich, analyze, score and visualize data into actionable intelligence on the highest risk threats from within and outside an enterprise environment, models threats

SACHIN NAYYAR CO-FOUNDER & CEO

SECURONIX: SECURITY ANALYTICS. DELIVERED.

38 | AUGUST 2016

Provider Companies




FINANCIALSOLUTION

and provide complete case management. That’s end-to-end security in one place, on one platform.

There is no Perimeter. Securonix Detects Any Threat. Anywhere.Traditional information security measures such as firewalls, access controls, security event information management systems (SEIMs) and data loss prevention (DLP) solutions are marginally effective at logging malicious intrusions, unauthorized data exfiltration and other breaches to an abstract enterprise perimeter. But the fact is, there is no perimeter and there never was.

Securonix was purpose-built to detect any threat from anywhere using sophisticated behavior analytics. Its first big win was a solution to the critical problem of insider threats. Malicious or negligent insiders pose a particular threat to organizations because they enjoy the advantage trust, legitimate credentials, familiarity with security hurdles and inside-knowledge on how to circumvent them. To counter this advantage, Securonix applies UEBA to detect insider threats automatically and accurately in near real-time. It accomplishes this by mining and analyzing a diverse set of user, system, application, security log, physical access, and even telephone activity to identify abnormal behavior associated with data theft, misuse, fraud and IT sabotage.

Since then, Securonix has worked with its customers to understand their critical security problems and expand its use cases to applications that solve them. The core technology can ingest and analyze data from any endpoint and is flexible enough to adapt to the evolving threat landscape. The Securonix team has worked with the world’s leading enterprises in finance, pharmaceuticals, healthcare,

manufacturing, and technology to develop robust enterprise-class security analytics solutions for:

• Insider Threat Detection• Behavior Analytics• Trade Surveillance• Fraud Detection• Data Security• Privileged Account Analytics• Application Security• Identity & Access Analytics• Cyber Security Analytics

Recent AdvancementsThis year, Securonix released SNYPR, a security analytics platform that transforms big data into actionable security intelligence. It delivers the proven power of Securonix analytics with the speed, scale, and affordable, long-term storage of Hadoop in a single, out-of-the box solution.

SNYPR fulfills the promise of big data for security by detecting the most complex, unknown, and impactful internal and external threats with a data-driven approach that is purpose built for security analytics. The result is a groundbreaking new threat detection capability that harnesses the power of big data environments.

Global Influence Securonix is experiencing tremendous growth and expansion across the global market. This year, the company opened new offices in London and Bangalore, an Asian hub for many of the globe’s largest multinational organizations, one third of which are Securonix customers.

“India and the greater Asian region is one of the fastest growing markets in the world,” says Securonix CEO Sachin Nayyar. “As the largest and most influential global enterprises expand throughout the region, we’ll be right there beside them to deliver the

threat prevention and detection capabilities they need to protect themselves against the most advanced threats.”

The Road Ahead In July of 2016, Securonix announced the launch of its channel partner and alliance program, Cyber Path Alliance. The company will deliver its solutions to the market exclusively through Cyber Path Alliance member organizations.

The move to focus sales on a 100 percent channel-driven strategy comes after Securonix’s early success with solid channel partners. The company’s rapid growth is due in large part to its partner ecosystem that boasts some of the largest technology resellers and integrators in the world.

The White Hat Against Cyber CrimeSecuronix was co-founded by CEO Sachin Nayyar and CTO Tanuj Gulati.

Nayyar drives the vision and overall strategy at Securonix. Previously, he was CEO of VAAU, a company he founded and led until its acquisition by Sun Microsystems. Nayyar is a renowned thought leader in areas of risk, regulations, identity and access, compliance and governance. In 2016, he was named “visionary CEO of the year” by the prestigious CEO World Awards.

Gulati is a thought leader in security applications of big data analytics. He leads engineering and product management at Securonix. Internally, he is known as the “Chief Inventor” of the company’s most innovative solutions.

AUGUST 2016 |39

Are�You�Staying�in�Network�Secure�Zone?paper.” However, it’s not all unicorns and rainbows.

Crumbling WallsWhile productivity might be up, it is extremely difficult to maintain a strong perimeter around this new blend of traditional, mobile and cloud infrastructure. There action to this is: “Then why try? Isn’t there a better approach?” This response is rational, but not the sentiment of a vast majority of the security industry.

Just as with mobile adoption, the common security response to cloud services is to attempt to block user’s access and, instead, guide them toward an “approved” (and typically less usable) server. That isn’t embracing reality and, quite simply, is no longer feasible.

The architecture diagram for current networks no longer fits cleanly into a simple box. Trying to wedge it into one is

ne word can sum up the most common strategy for

Onetwork defense - “boxy.” Building and maintaining a strong perimeter has a long and

storied history. Consider a castle with its moat, high walls and drawbridge. That is how most networks are defended. In a box. Currently, the mentality is: “Do you want to protect a new system?” Put it inside the box. “Processing personal information?” Put it inside the box.

While the “box” approach was successful in the past, it’s an antiquated model. And, while the conventional approach has been occupied with defending the castle from a ground attack, adversaries have deployed an air assault with the latest modern weapons.

User’s ChoiceOver the past decade, there has been a quiet revolution with how IT systems and services are used within organizations. Fed up with a lack of options, viable solutions and a general disconnect with the business, users have taken matters into their own hands.

This evolution started with the rise in mobile usage. Early on, traditional security teams focused efforts on stopping mobile usage. Eventually, they acquiesced and accepted mobile devices, but only those that were “approved.” Ultimately, reason triumphed and mobile is now treated in a more logical fashion. While still four letters, “BYOD” is no longer a bad word. Unfortunately, we are now seeing the same cycle with cloud services.

Consumer is the New BusinessConsumer-focused services are making significant inroads into enterprises around the world. It is fairly common to see large volumes of outbound network traffic utilizing services such as Dropbox, Google Apps, Github or any number of other cloud-based applications. In fact, these services have begun to incorporate features and functionality specifically targeted to the size and scope of various business operations.

Think of this as a “bottom-up” approach. It is a sign that users in organizations are pushing technology adoption just as much - if not more - than a traditional “top-down” approach. Overall, this should be seen as a positive. The shift is now aligning IT with the actual focus of the organization. It is a move toward technology that works in the “real world,” instead of simply looking good “on

Mark Nunnikhoven

Leader’s Thought

40 | AUGUST 2016

It is immediately apparent that there is a variety of information shared across multiple systems. Some of the systems are controlled by the enterprise, some are not. With this view, the real challenge comes to the forefront - how can the safety of orders (items purchased, quantities, shipping info, etc.) and processing data be ensured by at least three different entities? In addition, payment information resides on at least two systems. How does that affect Payment Card Industry compliance? This is the level where security should be applied-and it must be acted upon holistically.

Next StepsThe top priority for security must be monitoring. It is clear that controlling every element of the network can be overwhelming. With the variety of services, endpoints and connections, the aforementioned “box” model has been demolished. Thus, the traditional perimeter is gone. What takes place in networks requires more transparency to read and react accordingly.

A modern monitoring practice not only pulls in log data from network devices and application servers (as has traditionally occurred), but also logs and reports from IaaS, PaaS, SaaS and mobile systems. This in itself cteates a new challenge with an immense amount of diverse data needing to be processed. Fortunately, “big data” analytics can be applied to resolve this issue.

There is very little value in denying where network infrastructure design, and access, is headed. The

soundest strategy is to welcome this reality and work to increase security of the current network to focus on monitoring. It is essential to be cognizant

of data workflows within the overall enterprise. Once that is established, taking steps to protect data, regardless of where it is stored and processed, is far less daunting.

counterproductive and can lead to frustration among employees. It is imperative to accept the fact that the perimeter as it has been known is now gone. Which leads to the core of the issue - what strategies can be adopted to defend today’s networks?

Level UpFirst, it is important to understand that traditional controls still have a place in modern defense. There is a need for firewalls, intrusion prevention, anti-malware, filtering, etc. These traditional elements serve as a strong component, but they play a smaller role and cannot be considered the end-all, be-all of security. Instead of focusing on individual components of the network, it should be viewed according to the way specific data flows.

Security in IsolationTake a typical e-commerce transaction, for example:In a traditional approach, each of these systems would reside in relative isolation. First, there must be a firewall on the site and anti-malware so it is “secure.” Second, the shopping cart is delivered to the user via HTTPS so it is “secure.” Third, the payment information is encrypted, thus it is “secure.” Finally, the shipping system is only internal so it is “secure” through access control.

While none of these controls are bad, they do not take into account the realities of today's networks. Now, shopping carts are provided via PaaS, payments are provided via SaaS ans all shipping is done through a third-party API. These providers inherently change over time cteating more variables and avenues for breaches.

Data FlowIn addition to adding basic security to each system or service, it is critical to examine how data flows. When a high-level view of data flow is incorporated into the typical e-commerce transaction, the following occurs:

NetworkSecurity

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FINANCIALSOLUTION

Finance is rapidly evolving with the proliferation of vast amounts of data used and

collected across almost every type of consumer and commercial financial interaction. The advent of the internet, mobile technology and the transformation of how businesses around the world work with interacted financial instruments has created enormous amounts of event based and behavioral data. In order to create value for their customers and shareholders, financial institutions are working to harness this potential. The quantities of data being generated don’t only accumulate over time - as time goes on, the amounts being generated only expand.

The key to a competitive edge for businesses in general and for financial institutions specifically, is to prepare for new challenges that are already arising when needing to master overwhelming amounts of new data. Big data analytics can help financial organizations to better understand the information contained within the data and also help to identify the data that is most important for the business and future business decisions. Using the latest technology for data analysis can identify future threads and can eliminate illegitimate activities.

When it comes to the financial industry, service providers having the ability to implement all kinds of

applications such as risk management, behavior analysis, cyber security, fraud detection, predictive analytics, forensics capabilities, auditing, etc. must be enrolled.

Harnessing the Potential of Big DataBig Data Analytics Software Vendor, SQream Technologies delivers a high-performing next generation GPU database that quickly relieves Big Data and complex Analytics pains enabling entities such as financial institutions, telecoms and defense to easily ingest, store and analyze heavy analytical workloads in near real-time.

SQream’s technology delivers speed and scalability capabilities surpassing

SQREAM TECHNOLOGIES: RISING ABOVE NEW BIG DATA CHALLENGES

AMI GALCO-FOUNDER

& CEO

42 | AUGUST 2016

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FINANCIALSOLUTION

existing solutions by orders of magnitude. With SQream, big data projects can be completed and compromises related to speed, scale and capacity - can be removed.

SQream’s offerings include on-premise solutions, cloud-based, or a hybrid combination of both.

Creator of SQreamAmi Gal, Co-founder and CEO of SQream Technologies has a personal obsession with groundbreaking technology which drove him to create the Market’s leading next generation database solution powered by GPUs (Graphical Processing Units). The database provides organizations with a significant technology boost, releasing them from technological limitations that were holding them back thus far, and the big data industry’s answer to the overwhelming zettabytes of New Data which is expected to be produced within the coming years.

As visionary entrepreneur, thought leader and technology investor with over 20 years of technology and executive management experience, Ami has created several substantial new businesses related to high performance and complex data integration environments. Among these successes was Manov, a company he co-founded, which developed massive data-centric call center and CRM solutions. Magic Software Enterprises acquired Manov's solution which enabled the company to execute a successful secondary public offering for the company on NASDAQ.

Innovative Solutions by SQreamSQream utilizes the massive parallel processing power of GPUs (Graphic Processing Units) for dealing with heavy analytical workloads. The supercomputing powers of the GPU combined with SQream’s patented technology, results in extremely fast analytics performance on enormously

large scale data sets.

With SQream, the power of a full-rack database machine is condensed into a standard 2U server, handling up to 100TB. Requiring much less hardware

than other Big Data solutions translates into a much more cost-effective approach to the financial industry.

SQream can be used as an analytical data warehouse or as an accelerator to an existing data warehouse to accelerate reports and analytics without the need for OLAP. Organizations can connect any visualizer (JDBC, ODBC, .NET) to SQream allowing them to implement all kinds of applications for revenue growth.

Foreseeing the TechnologySQream DB is a next generation GPU database that easily ingests, stores and analyzes heavy workloads with a low footprint. With SQream DB organizations are able to mitigate their risk exposure, balance risk with opportunity, and reach more informed decisions based on accurate, predictive analytics. Apart from risk management, SQream DB also addresses challenges related to high frequency trading and algorithmic execution; financial analytics; fraud; financial processes;

predictive analytics for customer engagement and sales; behavioral data analytics; data security and legal protection.

SQream continues to break new ground in order to benefit its customers. They are seeing a growing pain in the market, related to the ability to handle massive amounts of New Data that is being produced globally, on a daily basis.

SQream’s technology was built from scratch to change the big data game, and make valuable data accessible and masterable in order to truly transform how businesses operate today into a new way of dealing with overwhelming amounts of data -powerfully, yet with ease and simplicity, so that people, not only businesses, will be able to benefit from the power of data in ways we are only beginning to see. By eliminating the technology hurdles, businesses will ultimately be freed up to innovate, improve and secure processes that will have a better effect on people and their lives. Expanding Satisfied ClienteleSQream is all about improving the customer’s experience when having to deal with big data and solving real data problems. SQream’s customers can easily handle massively growing data with minimum cost, hardware and infrastructure changes. Their customers are not required to perform any indexing, complex data modeling or possess any special skill sets. The database is simple to use with high output. Business wise, this translates into the ability to allocate resources from dealing with technological bottlenecks to dealing with innovation and progress, instead.

The result is improvement in productivity, reduction in costs and the creation of a long-term competitive advantage.

“

“We provide the #1

performing big data

analytics database

in terms of SPEED,

SCALE, SIZE and

SIMPLICITY - with

the lowest TCO in

the market.

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