Artificial Intelligence
Global Digital Banking Platform Market By Component, By Deployment Type, By Type, By Banking Mode, By Region, Industry Analysis and Forecast, 2020 – 2026
New York, Aug. 24, 2020 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Digital Banking Platform Market By Component, By Deployment Type, By Type, By Banking Mode, By Region, Industry Analysis and Forecast, 2020 – 2026” – https://www.reportlinker.com/p05953642/?utm_source=GNW
The rising level of investment by public / private capital holders in the development of advanced and sophisticated mobile-friendly banking platforms, enterprise and web-based banking applications and custom-built banking services is promising tremendous opportunities for the global digital banking industry to expand in the near future.
Digital banking platform is a robust omnichannel framework that allows banks and financial institutions to streamline and control all their digital customer experiences. Digital banking platforms serve as the basis for a digital bank and allow banks to offer customers innovative digital products and services. The introduction of these systems results in enhanced customer service and decreased costs, thus allowing banks to meet regulatory requirements. The emerging trend of digital transformation in the global banking industry is increasing the market for digital banking platforms. Digital transformation or digitalization of businesses refers to the integration of digital technology into various business processes, organizational activities and business models. Optimization of the end-to-end business process, increased operating efficiency, improved customer experience and reduced costs are just some of the factors driving the digital transformation of the banking industry.
Banks are embracing technology to reduce operating costs and remain competitive on the market. It prevents banks from investing in expensive legacy hardware and software to keep these systems up to date. It helps banks retain their customers by offering better customer experience and lower-cost personalized services. It also gives banks a 360 ° view of their customers. The growing threat of cyber-attacks is hindering the adoption of digital banking. Fighting cyber-attacks is one of the biggest challenges facing banks across the globe, considering the delicate nature of the consumer details they have. As cyber criminals conduct more sophisticated and regular attacks, the number of major data breaches is expected to increase over the period.
Based on Component, the market is segmented into Solution and Services. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Type, the market is segmented into Retail Banking and Corporate Banking. Based on Banking Mode, the market is segmented into Online Banking and Mobile Banking. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The major strategies followed by the market participants are Partnerships and Product Launches. Based on the Analysis presented in the Cardinal matrix; Oracle Corporation, The Bank of New York Mellon Corporation, and SAP SE are the forerunners in the Digital Banking Platform Market. Companies such as Temenos AG, Fiserv, Inc., Fidelity Information Services (FIS), Inc., Appway AG, VSoft Corporation, and Infosys Limited are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Infosys Limited (EdgeVerve Systems), Fidelity Information Services (FIS), Inc., Fiserv, Inc., Oracle Corporation, SAP SE, Temenos AG, The Bank of New York Mellon Corporation, Appway AG, COR Financial Solutions Ltd., and VSoft Corporation.
Recent strategies deployed in Digital Banking Platform Market
Partnerships, Collaborations, and Agreements:
Jun-2020: Temenos came into collaboration with Next Commercial Bank. The bank selected Temenos Transact to power its launch as one of Taiwan’s first neobanks and deliver digital banking experiences. Temenos Transact delivered rich, pre-configured banking functionality and compliance to support Next Bank’s rapid launch to market in 2020.
Apr-2020: FIS announced its collaboration with Bambu, a fintech startup. The latter company selected FIS’ next-generation Modern Banking Platform to power a new digital banking solution for the U.S. unbanked and underbanked.
Mar-2020: Temenos AG selected by Virgin Money Australia, a division of Bank of Queensland (BOQ), as its digital banking technology partner. Temenos’ cloud-native, cloud-agnostic banking software aims to enable Virgin Money Australia to benefit from a single, upgradeable, digital SaaS platform for developing a simplified digital business model.
Feb-2020: Infosys Finacle collaborated with Summit Technology Consulting Group, a leading fintech and cloud modernization firm and Amazon Web Services (AWS). The collaboration was focused on bringing Finacle’s leading Digital Banking Suite to community financial institutions in the United States.
Feb-2020: Temenos collaborated with Assaray Trade and Investment Bank (ATIB). The bank selected Temenos Infinity and Temenos Transact to power its digital transformation. Temenos‘ cloud-native, cloud-agnostic banking platform aimed to enable the bank to quickly launch new digital products for retail and corporate banking and improve the customer experience.
Jan-2020: FIS signed an agreement with Union Bank for delivering a next-generation core banking platform to power the bank through its next iteration of digital offerings. Union Bank will use the FIS Modern Banking Platform to co-develop and co-engineer systems for the banking transformation program to drive innovation and address the evolving needs of its clients today and into the future.
Dec-2019: Infosys teamed up with Myanmarese Glory Farmer Development Bank (or G Bank). Under this collaboration, the companies were focused on providing digital banking services to its customers. The services have been based on Infosys’ Finacle and helped the private sector bank to transform its retail banking business as well as to leapfrog multiple evolutionary phases to emerge as a modern digital bank.
Nov-2019: FIS teamed up with Apple Bank following which Apple Bank modernized its existing in-house system with a modern core banking platform that provided it greater flexibility to quickly bring new products to market. The bank selected FIS’ hosted IBS core solution to provide a consistent, modern banking experience across its mobile, ATM, and branch channels.
Sep-2019: Oracle Financial Services teamed up with FSS, one of India’s largest payments processor and a leading global provider of integrated payment products. Following the collaboration, FSS provided specialized integration and hosting services for Oracle’s cutting-edge Oracle Banking and Payments solutions. FSS also extended customized solutions for addressing the corporate and retail payment needs of the banking industry.
Jul-2019: Appway came into partnership with Refinitiv, a provider of financial markets data and infrastructure. The partnership was aimed to fully integrate their suite of onboarding capabilities on the Refinitiv BETA Platform, a complete suite of brokerage capabilities used by many leading US wealth management and brokerage firms. This integration with Appway enabled financial intermediaries and wealth advisors to utilize the BETA Platform, which empowered them to connect their end-clients with a digital onboarding solution that reduced time and costs while improving workflow efficiencies across the board.
Apr-2019: Fiserv entered into collaboration with NBT Bancorp. Under this collaboration, the former company implemented its Fiserv Architect digital banking service to NBT Bancorp Inc. Architect enables the bank to deliver a consistent digital banking experience across a customer’s online, mobile, and tablet devices.
Acquisition and Mergers:
Aug-2019: Temenos completed the acquisition of Kony, a provider of mobility, omnichannel and internet-of-things systems and services. The acquisition bolstered Temenos’ ability to compete in the digital front office solutions market, specifically strengthening the company’s Infinity offering.
Jul-2019: FIS acquired Worldpay, one of the world’s leading global eCommerce and payment technology companies. The acquisition accelerated its growth and advanced the way the world pays, banks, and invests.
Dec-2016: Fiserv signed an agreement to acquire Online Banking Solutions, Inc. (OBS). The acquisition would provide additional cash management and digital business banking capabilities, which will complement and enrich its existing solutions.
Product Launches and Product Expansions:
Jun-2020: Fiserv unveiled Virtual Banking Assistant, an interactive tool. The tool uses AI-based natural language processing for helping banks and credit unions manage virtual customer transactions with greater efficiency.
Jan-2020: Appway launched Client Lifecycle Management for Wealth & Private Banking (abbreviated as CLM for Wealth) on Salesforce AppExchange. CLM for Wealth can reduce the time to onboard new customers, provide relationship managers with complete transparency where a given process stands, and enable collaboration with middle-office staff and compliance.
Jan-2020: Temenos AG unveiled the banking-as-a-service platform in the U.S., which can help launch a digital banking platform go live in 90 days. The Temenos SaaS platform has been designed for offering a range of services like digital onboarding, know-your-customer verification, personal financial management and support for artificial intelligence, chatbots, wearables, and other technology.
Jul-2019: Appway introduced Client Update, a new solution for supporting financial institutions in delivering personalized, holistic, and smart management of client updates and account maintenance. This solution complemented Appway’s existing offering including Onboarding for Wealth, Regulatory Reviews for Wealth, Digital Mortgage, and Digital Banking Platform. Client Update provides a combination of Appway’s best-fitting business components, workshops, and services to empower financial institutions to accompany clients through their financial journey and deliver an empathic customer experience across products, services, channels, and lines of business.
Jun-2019: EdgeVerve Systems released the Intelligent automation platform AssistEdge Engage. The platform utilizes AI and RPA and was developed for contact centers to increase agent productivity and provide enhanced customer experience.
May-2019: VSoft introduced a new version of its core banking system, called “Wings”, for the US. Wings is an all-new, flexible, and comprehensive core processing system built on advanced browser-based technologies. The platform was purpose-built from the ground up to make core processing for banks and credit unions easier and less time-consuming.
Mar-2019: BNY Mellon announced the U.S. launch of BNY Mellon Escrow AdvantageSM, a new platform. The new platform has been designed for reducing the amount of time and effort that many clients and law firms spend setting up and managing escrow and associated paying agent services.
Jan-2019: Temenos launched two new products; Temenos Infinity, a breakthrough digital front office product, and Temenos Transact, the next generation in core banking. Through APIs, both products can be implemented independently or integrated. Clients will be able to roll-out new applications in hours utilizing advanced continuous deployment tools and methodologies.
Scope of the Study
Market Segmentation:
By Component
• Solution
• Services
By Deployment Type
• On-premise
• Cloud
By Type
• Retail Banking
• Corporate Banking
By Banking Mode
• Online Banking
• Mobile Banking
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Infosys Limited (EdgeVerve Systems)
• Fidelity Information Services (FIS), Inc.
• Fiserv, Inc.
• Oracle Corporation
• SAP SE
• Temenos AG
• The Bank of New York Mellon Corporation
• Appway AG
• COR Financial Solutions Ltd.
• VSoft Corporation
Unique Offerings
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p05953642/?utm_source=GNW
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Artificial Intelligence
Adamastor introduces the FURIA, the first Portuguese supercar
PORTO, Portugal, May 14, 2024 /PRNewswire/ — The history of the Portuguese car industry is filled with good examples of the significance of Portuguese entrepreneurship, the desire to “give new worlds to the world”, the enormous capacity to get down to work and turn ideas into reality. In all of them we find something that unites them: one or two “geniuses” who, sometimes not in the most obvious way, or having to overcome the most unusual obstacles, end up bringing something they dreamed of to fruition. Adamastor has a lot of all these things. A lot of idealism, a lot of passion and, at the same time, a lot of know-how… The result is being presented today: the FURIA!
A supercar is, in essence, an exclusive high-performance sports car made up of specific components of superior quality, offering more power and cutting-edge technology to enthusiasts and collectors around the world. It is precisely in this segment, which is also “super” in terms of exclusivity, that Adamastor wants to position itself.
The constant growth and development of society and the economy has favoured the expansion of the number of wealthier consumers, many of whom are regular customers of the restricted supercar category. It is therefore expected that the demand for supercars will continue to increase, also favouring growth in the sector.
However, the rigour of construction, the driving experience and the high-level design and technology are equally responsible for placing Adamastor’s market segment at the forefront of the evolution of expertise, R&D and technical knowledge in this top category of the exciting automotive industry. This is precisely where Adamastor wants to put itself, with the introduction of the Furia, right at the front of the pack.
Where is the first Portuguese supercar produced?
It was from its facilities in Perafita, on the outskirts of Oporto, that Adamastor worked on the development of the first Portuguese supercar. But the highly specialised engineering, production and design team also has the technical and human resources to design, develop and produce its own tools, equipment and other components, and is also committed to becoming a leader in the execution of excellent engineering projects at international level, with a special focus on designing the highest quality carbon fibre components. Adamastor Advanced Technologies was thus born.
In order to achieve this, it uses cutting-edge technical solutions, from the design stages to validation, obviously including development and production, and it has all the skills and competences that allow it, for example, to stand out as one of the main players in the industry in the production of carbon fibre components for use in the demanding automotive industry, in the new mobility solutions sector and in the challenging world of racing, while demonstrating its ability to adapt to an industry that is constantly changing and evolving.
From advanced CNC machining technology to modern 3D printing tools, including the aforementioned production of carbon fibre components, Adamastor Advanced Technologies’ experience, expertise and excellent service has made it the choice of customers with specific needs, such as for the production of carbon fibre bodies and fuel tanks for off-road racing vehicles, propellers for wind power generation, among other high-precision components, where tight tolerances are crucial for the application and consequent correct operation of the component under working conditions.
In this context, Adamastor’s network of partners is also one of its main assets. Each of its partners offers the experience and technical expertise needed to achieve the best results, meeting the high-quality standards and demands of its customers. Examples include partnerships with Creodynamics – virtual simulation of a wind tunnel with CFD (Computational Fluid Dynamics) software, as used in Formula 1; with Canopy – virtual simulation of races and lap times used by some of the teams in the FIA World Endurance Championship and Formula 2; and with Altair – FEA (Finite Element Analysis)
All the information available here: https://www.adamastor.com.pt/home
Technical specifications – Adamastor Furia
Chassis:Carbon fibre
External dimensionsLength: 4,560 mmWidth: 2,212 mmHeight: 1,098 mmWeight: 1,100 kg (dry in Race version)
Track widthFront: 1,755 mmRear: 1,705 mmWheelbase: 2,800 mm
SuspensionGeometry: decoupled double wishbones, coil spring on shock absorberAdjustments supported: toe, camber, caster, ground clearance, roll stiffness, bump stiffness
EngineArchitecture: V6, twin-turbo, sourced from Ford PerformanceDisplacement: 3.5 litresMaximum power: + 650 horsepowerMaximum torque: + 571 NmFuel: Petrol; compatible with synthetic fuelsTop speed: over 300 km/h in the road versionAcceleration from 0 to 100 km/h: around 3.5 secondsAcceleration from 0 to 200 km/h: around 10.2 seconds
Maximum downforceRace: 250 km/h – 1,800 kgRoad: 250 km/h – 1,000 kg
Brakes378 mm discs at the front and 356 mm at the rear. 6-piston callipers at the front and 4-piston callipers at the rear. Brake force variation available on Race version.
Standard equipmentABS and TC
Customisation optionsAdamastor allows a wide range of personalisation freedom for the Furia, including the interior design.
Planned production:Limited series of 60 units
Price of the road-legal version:Estimated at 1.6 million euros + tax
Photo – https://mma.prnewswire.com/media/2410982/Adamastor_Super_Sports.jpgPhoto – https://mma.prnewswire.com/media/2410981/Adamastor_350_HorsePower.jpgLogo – https://mma.prnewswire.com/media/2094180/Adamastor_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/adamastor-introduces-the-furia-the-first-portuguese-supercar-302143843.html
Artificial Intelligence
ID Quantique launches a quantum-safe communication ecosystem to facilitate the adoption of Quantum networks, with HEQA Security, LuxQuanta, Quantum Optics Jena and ThinkQuantum as first partners
GENEVA, May 14, 2024 /PRNewswire/ — To accommodate the growing demand for telecom-grade solutions that enable fast and cost-effective migration to quantum-safe communications, ID Quantique’s new Clarion KX software platform now supports multi-vendor Quantum Key Distribution (QKD) interoperability. Today, we are pleased to welcome new technology partners: HEQA Security, LuxQuanta, Quantum Optics Jena and ThinkQuantum to our Clarion KX ecosystem.
With the looming threat of quantum computers capable of breaking public-key cryptography, the reality of “harvest now, decrypt later” attack poses immediate threat to the confidentiality of enterprise, government, and IT service providers’ data. Organizations worldwide are grappling with the urgency of migrating to quantum-safe infrastructure – the most complex, time-sensitive, and costly cryptographic overhaul in IT history. Stakes are high, as failure to timely employ available mitigation strategies could expose them to significant liabilities.
To fully mitigate the associated risks, organizations are now looking to enforce a defense in depth approach by leveraging both quantum-based and algorithmic technologies at different layers of the network stack. QKD solutions, the key building block of this strategy, have been already recognized to play a critical role in ensuring long term resilience to Quantum threat.
ID Quantique Clarion KX platform leverages an open and service-based architecture to support a cost-effective scale up of QKD networks. It provides for orchestration and management of out-of-band quantum-key delivery in real time, regardless of the underlying QKD solutions or the location of the consuming encryption appliances. With its support for heterogeneous QKD infrastructure in complex and SLA demanding environments, IDQ’s Clarion KX platform also enables telecom operators to generate new revenue streams by providing new Quantum-Safe as a Service offerings to their B2B customers looking for long-term security assurance.
With ID Quantique’s expanded ecosystem and open interfaces, customers can now also leverage hybrid QKD networks, including continuous variables (CV) QKD, discrete variables (DV) QKD or Entanglement based QKD.
“We are extremely proud to break another important barrier to large-scale adoption of quantum networks. Said Grégoire Ribordy CEO of ID Quantique. Offering a vendor-agnostic ecosystem allowing heterogeneous QKD infrastructure was one of the next logical steps the market was expecting – and this is now available thanks to our partners.”
“Reaching QKD interoperability is a significant market milestone that empowers customers to choose products freely for their networks, maximizing flexibility and adaptability to meet business needs. Said Nir Bar-Lev, CEO, HEQA Security. This customer-centric approach reflects HEQA Security’s dedication to delivering innovative solutions, even before standards are fully finalized.”
“Safeguarding both present and future communications requires customized solutions aligned with specific network requirements. That is why we must ensure multi-vendor interoperability, allowing our industry to build on the unique properties and specifications of each QKD and related technologies from different providers.” says Vanesa Diaz, CEO of LuxQuanta. “We are very pleased with the seamless work that both our teams have done to integrate our NOVA LQ® system with Clarion KX software, and we look forward to continuing to nurture this partnership.
“The integration of different technological approaches is an important step for future network architecture,” says Kevin Füchsel, CEO of Quantum Optics Jena. “The demonstration shows that our partners and customers can rely on simple and fast interoperability. This brings us a big step closer to multi-user and multi-vendor networks.”
“Partnering between ThinkQuantum and IDQ for the mutual recognition of our own quantum networking solutions is definitely moving in the direction of overcoming the competition we daily experience on the market to cooperate in the support of our common clients and Industry growth”, Simone Capeleto, CEO of ThinkQuantum.
More info on Clarion KX Platform
For more information visit our website:www.idquantique.comwww.heqa-sec.comwww.LuxQuanta.comwww.qo-jena.comwww.thinkquantum.com
Photo: https://mma.prnewswire.com/media/2412582/ID_Quantique.jpgLogo: https://mma.prnewswire.com/media/2412581/ID_Quantique_Logo.jpg
Contact: Catherine Simondi – VP Marketing and Communication, ID Quantique, [email protected] or + 42 22 801 83 71
View original content:https://www.prnewswire.co.uk/news-releases/id-quantique-launches-a-quantum-safe-communication-ecosystem-to-facilitate-the-adoption-of-quantum-networks-with-heqa-security-luxquanta-quantum-optics-jena-and-thinkquantum-as-first-partners-302145202.html
Artificial Intelligence
Sona, next-generation workforce management for frontline, raises $27.5M Series A led by Felicis
LONDON, May 14, 2024 /PRNewswire/ — Sona, the next-generation, intelligent workforce management platform for frontline enterprises founded by Steffen Wulff Petersen, Oli Johnson and Ben Dixon, announced today its $27.5M Series A. Felicis led the financing with participation from Northzone, Google’s AI-fund Gradient, SpeedInvest, Antler, BAG Ventures, and numerous notable angels participated in the round. Sona has raised $40M+ to date and will use this fresh round of capital to expand its go-to-market function and build more advanced AI capabilities on its platform. In 2023 alone, Sona experienced an explosive 400%+ revenue growth. To date, over 4.6 million shifts have been created on Sona.
The frontline workforce represents nearly 2 billion people worldwide, 56% of the global workforce. In spite of this, frontline innovations have received
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