The 10 Renowned E-Banking Solution Providers of 2021

2021 | Volume-05 | Issue-06

T H E

Banking Revolution Far Beyond just Banking

Renowned

E-Banking SOLUTION PROVIDERS OF

2021

ÖZKAN ERENER, CEO

BRINGING THE PROMISE OF DIGITAL TRANSFORMATION OF FINANCIAL INSTITUTIONS TO LIFE

www.insightssuccess.com

Editor’s Desk T

Delivering Most Secured and Comprehensive Banking Services Digitally at Fingertips of People

he time has come where businesses must be ready to change if necessary and align their offerings with newer technological developments to answers new market’s needs and address new markets trends. With the world going more digital, there is a significant shift to utilizing digital services. It is beneficial for both clients as well as businesses to deliver the services digitally. When it comes to finance sector, it has become more important than ever for financial institutions, private bankers, and wealth managers to connect with their clients anywhere and anytime enabling efficient and smooth digital access to banking services to clients is essential for institutions to increase the satisfaction of their clients.

Financial institutions have now realized that they need to accelerate their digital transformation to be on track. They are finally inculcating the idea of enabling everything at fingertips. Some of the financial institutions are also helping private bankers and wealth managers to go through their digital transformation smoothly and efficiently. It provides them with up-front digital solutions that allow them to put their clients at the center of their concern.

With the advancement of technology, the world is looking for many customized solutions in almost every aspect of life. Adapting the best of the best methods that enhances the way of life is always good for humanity. The significance of being available on online platforms for businesses is the most essential aspect for any business in the present times as many people are personally preferring to manage most of tasks through the mobile applications and websites by accessing their smart devices.

As everything is driven by money, there will be an increasing need for online assistance or solutions to meet the financial needs of the users. Banking service forms the part of most essential service. Therefore, banks have no choice but to adopt technology at a fast pace to be competent and relevant in the market. Most of the people especially of young generation access everything online and they like to do all banking functions also digitally.

Besides, financial institutions that provide online services can also contribute to financial inclusion of excluded population because maximum people can benefit from these services all the time. It is possible to cover all aspects of banking through digital services. Financial institutions in the world are capturing a large slice of this market, by offering digital services. It is also possible to provide much needed user-friendly features. The efforts to bring new innovations to financial services industry plays important role in the sustainable growth of financial institutions and thereby that makes them renowned.

In this edition of “The 10 Renowned E-Banking Solution Providers of 2021” we are enlisting organizations that are most renowned in offering reliable and innovative e-banking Solutions.

Featuring on the cover of this edition is VeriPark, a global solutions provider for financial institutions.

Since its inception, the company is helping its clients to turn their processes into digital environments. It works collaboratively with clients to develop innovative technology strategies and solutions, touching millions of people every day and bringing the promise of digital transformation to life.

Unveil more such companies and their novel solutions. Also, while flipping through the pages do read insightful CXO standpoints and articles written by our in-house editorial team.

Let’s have a look at this!

Sharad Chitalkar sharad@insightssuccess.com

CONTENTS

Cover Story

08

Bringing the Promise of Digital Transformation of Financial Institutions to Life

CXO

32

20

Leader’s Viewpoint A Humanistic View of Computer Security

Banking Revolution Far Beyond Just Banking

16 Intercash Customized Global Payment Solutions for Your Organization

Article

22 New Access Enabling Digital Transformation With Advanced Digital Wealth Management Platform

28

36

One Global™ Ensuring Holistic Digital Financial Services with Convenience and Security

Processware Systems Facilitating Digitalization of Financial Institutions

Editor-in-Chief Hitesh Dhamani Managing Editor Anish Miller

Executive Editor

Assistant Editors

Sharad Chitalkar

Jenny Fernandes Sourabh More

Visualizer

Art & Design Director

Associate Designer

David King

Asha Bange

Kartik Balapurkar

Co-designer Shubham Dali

Senior Sales Manager

Business Development Manager

Kshitij S

Peter Collins

Marketing Manager

Sales Executives

John Matthew

David, Martin, Sanket, Samir

Technical Head

Business Development Executives

Jacob Smile

Steve, Joe, Aidan

Technical Specialist Aditya

Digital Marketing Manager Marry D'Souza

SME-SMO Executive Amol Wadekar

Research Analyst Frank Adams

Database Management Stella Andrew

Circulation Manager Robert Brown

Technology Consultant David Stokes

sales@insightssuccess.com May, 2021

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Reprint rights remain solely with Insights Success.

T H E

Renowned

E-Banking SOLUTION PROVIDERS OF

2021 Company Name

Featured Person

Brief

Codebase Technologies codebtech.com

Samier Khan CEO

Codebase Technologies (CBT) is a Global Open API Banking solutions provider that enables banks and financial institutions to Demystify Digital Financial Services.

Intercash intercash.com

Aaron Gladman CEO

Intercash is one of the world’s leading providers of global payment solutions, with a special focus on white-label card programs.

New Access newaccess.ch

Vincent Jeunet CEO

New Access is a leading provider of a scalable and modular Core-to-Digital solution suite designed to meet the specific requirements of the Private Banking and Wealth Management industries.

One Global oneglobal.com

Basel Joudah Corporate Communication Manager

One Global™ is enduring as a global digital life style service provider that enables the consumers to connect with technological advancements.

Orlando Vea CEO

PayMaya is the only end-to-end digital payments ecosystem enabler in the Philippines with platforms and services that cut across consumers, merchants, communities, and government.

Guru Murthy CEO

Processware Systems was started in 1989 and has firmly established its position in the software market, as a solutions provider.

SK Global Software sksoft.com

Scott Caudle CEO

Founded in 1995 with a global re-branding in 2015, SK Global Software is a software development company known for bringing valuable enhancement to the Microsoft Dynamics channel, with our primary focus on global banking and treasury automation.

Transact Payments transactpayment sltd.com

Kriya Patel CEO

TPL is an authorised and regulated Mastercard and Visa Principal Member providing white-label, European BIN sponsorship and modular prepaid services.

VeriPark veripark.com

Catherine Vanmarsenille Marketing Director

VeriPark is a global solutions provider enabling financial institutions to become digital leaders with its Intelligent Customer Experience suite.

Worldwide Interactive Services worldwideinteractive services.com

John D. Pantaleon President & Founder

SocialEyes Communications is a social media and digital marketing agency based out of Toronto, Ontario.

PayMaya paymaya.com

Processware Systems processwaresystems.com

Özkan Erener

CEO

VeriPark

COVER STORY

Bringing the Promise of Digital Transformation of Financial Institutions to Life

‘‘

‘‘

We are helping financial institutions to enhance their customer acquisition, retention and cross-sell capabilities by providing proven, secure and scalable Customer Engagement, OmniChannel Delivery, Branch Automation, Loan Origination and Next Best Action solutions.

providing proven, secure and scalable solutions in these four areas to enhance their customer acquisition, retention and cross-sell capabilities. Let’s have a look at its top-notch solutions.

VeriChannel: A financial institution must have an omnichannel strategy with a customer-centric approach. As a reliable and scalable platform for Omni-channel Banking, VeriChannel sits on top of existing IT systems and allows for a secure, zero footprint integration with disparate business applications. VeriChannel offers a secure, unified platform that empowers organizations to manage seamless, consistent and engaging customer journeys across multiple customer touch points, including web, mobile, kiosk, and even ATMs.

D

igital transformation is not anymore merely an option for organizations. It has become a means to future-proofing their business and improving the customer experience, employee capabilities, operational efficiency, and business economics. Financial institutions are increasingly realizing the significance of going digital and thus, are embracing digital transformation.

With a mission to enable financial institutions to become digital leaders by delivering world class customer journeys in digital and assisted channels, VeriPark, a global solutions provider for financial institutions, was incepted.

With the help of VeriPark's end-to-end seamless customer experience solutions, financial institutions get the chance to drive more engaging interactions with their customers or partners by capturing their needs, gaining personalized insights, and placing customers at the core of their digital transformation and innovation.

Founded in Turkey 22 years ago, the company now has offices in 15 countries worldwide, from Asia over the Middle East and Europe to the Americas, serving clients in more than 30 countries. Since its inception, the company is helping its clients to turn their processes into digital environments. It works collaboratively with clients to develop innovative technology strategies and solutions, touching millions of people every day and bringing the promise of digital transformation to life.

Comprehensive Offerings For financial institutions to go digital, they must have solutions in four areas i.e. Omni-channel Delivery, Customer Engagement, Branch Automation, and Loan Origination. VeriPark is helping financial institutions by

VeriTouch: VeriTouch is a vertical Customer Engagement (CRM) solution built on top of Microsoft Dynamics 365, optimized with industry best practices that enable financial institutions to place customer relationship management at the core of their digital transformation journey.

VeriBranch: VeriBranch provides a unified frontend, that empowers branch staff to transform themselves into universal bankers while supporting contactless customer journeys in the digital branches. It gives banks all the tools to transform their branches into high-value sales centers. It leverages technology to empower branch staff and deliver unparalleled customer satisfaction. The solution enables bank employees and technology to work together, with the right information at their fingertips to execute transactions.

VeriLoan: VeriLoan is a powerful end-to-end digital loan origination, servicing and collection solution built on top of Dynamics 365. It allows managing the entire customer lifecycle in one, unified CRM platform. Covering

The 10 Renowned E-Banking Solu on Providers of 2021

everything from pre-screening, onboarding, risk and credit review, underwriting, disbursement to collection, VeriLoan automates the entire retail, commercial and corporate loan processes from start to finish.

VeriLink: VeriLink is the Common Integration Layer providing out-of-the-box request / response schemas used

by VeriPark’s implementations and by other third party front-end and internal systems for integration with the host and core banking systems.

VeriPark is the only company in the industry to provide omni-channel, customer engagement and origination capabilities in a single platform. This is what makes VeriPark a preferred choice for financial institutions to go digital.

A Proficient Leader Leading by Example One of the inceptive minds of VeriPark is Özkan Erener, co-founder and CEO of the company. Ozkan brings an enriching experience in building delivery channels and CRM systems for retail and corporate banks, to the table. Özkan was born in 1970 in Turkey and graduated from Electronics Engineering at Bosphorus University in Istanbul. He co-founded VeriPark at 27 years old and has been heading the company since then, leading by example.

He is actively involved in designing the product roadmap of the company. Under his leadership, VeriPark has emerged as a global player dedicated to FSI with 800 employees, operating in 15 countries.

‘‘

‘‘

Our mission is to enable financial institutions to become digital leaders.

Ozkan believes that the banking industry is going through significant changes with the arrival of digital banks, cloud, blockchains, and similar areas and believes it is a great time for entrepreneurial initiatives in the industry. He advises emerging entrepreneurs, who aspire to venture into the banking industry, to focus on clients' needs in terms of digitalization, as there is a dire need to do so. Most banks are already well equipped to compete against established banks, but are in need of technology to face the emerging digital neobanks. For now, that is a great recipe for success for entrepreneurs.

It’s all about Reimagining and Reinventing The coronavirus crisis has forced many banks to shift to home working. Some customers and employees may be longing for things to ‘return to normal’ but others are finding it difficult to imagine going back to how things were. It’s likely that some traditional ways of banking will (and probably should) change for the better. Many banking leaders are realizing that their teams can do much of their work productively at home. For the foreseeable future, we are all going to have to live and work with some form of physical distancing. VeriPark has the digital banking solutions to ensure bank employees can work from home, stay safe and be available to meet the needs of their retail and business customers, both via digital and assisted channels.

COVID-19 has transformed the way billions of people live, work, shop – and manage their finances. According to VeriPark, in the midst of all the confusion and anxiety, proactive banks have the opportunity to emerge as a source of comfort, hope and security for their customers.

How financial institutions deal with the challenges in the “New Normal” will not only define the future of their brand; it will significantly affect their customers, employees

and the wider economy. To be digital-ready for a postCOVID-19 world, organizations will not only have to build resilience, but also reimagine and reinvent their strategies and operations.

Banks Embracing Digitalization According to Özkan, it is necessary for financial institutions to align their offerings with newer technological developments, especially when it comes to digital banking or financial mobile apps. He says “The customers are adopting digitalization so fast. If banks are not present where the customers are, they will sometimes not be very meaningful to them. They will have to adapt to what the customers are using.”

With that said, Ozkan is also of the opinion that banks have always been good in adapting to new technology. To exemplify this, he recalls the time when we were only sending simple SMS messages to each other, instead of

texting or chatting. But, with the arrival of all the messaging apps, we are now having significant conversation over WhatsApp with each of the heavy conversations lasting for multiple days. Now, we are witnessing banks carrying out such kind of text-based conversations, chat-based conversations, financial eligibility discussions, all happening on such kind of automated, bot-driven conversations. This shows how bank have been good in following the technology and their customers. If their customers are now spending more time looking at Facebook rather than other apps, then banks have started promoting their offerings over there.

A Roadmap Ahead VeriPark is now a +800 people organization, working with clients in more than 30 countries and continues to expand its wings. Every week, the company has conversations and meetings with almost 100 different banks from Asia to America. Through these discussions, it is understanding

how they are reacting to government financing for COVID, how they're reacting to their clients not coming to branches etc. VeriPark is extrapolating all these interviews, demands, challenges, and concerns, and translating those insights into its product suite.

The fact that VeriPark is focusing into a wide geography is bringing the company an enormous competitive advantage.

For example, the fact that we were able, many years ago, to help a bank onboard customers via video for a project in a country which had just introduced new regulations enabling video-based onboarding, gave us a massive advantage in other markets recently, VeriPark’s exposure to different continents and continuous engagement is enabling the company to serve the right clients. Its attempt to solve and enhance their digitalization journey brings a very interesting competitive advantage for VeriPark when it is approaching clients in other countries.

Ensuring Customer Satisfaction “VeriPark has been a valued strategic business partner both before and during this pandemic. We have loved working on many successful projects together. For example, we have built an award-winning infrastructure for all of our digital channels with VeriPark’s framework. We have also renewed our retail and corporate internet banking and mobile banking channels with the latest technology, and we achieved that together in just one year. We built our CRM

program from the ground up; we are currently running a pilot system, which we will analyze and develop further. We are also about to start our Robotic Process Automation (RPA) journey with VeriPark.”- Esra Beyzadeoglu, Alternatif Bank Executive Vice President Information Technologies, Digital Banking and Operations “Our retail customers started using our contact center and digital channels much more. If we didn’t have these capabilities in place, we would have had a lot of issues; it would have been chaotic. Our corporate customers also found they could do everything they needed to do using our mobile app. The reason we were able to do all this was down to the digital investments we had made with VeriPark.

In fact, we were called upon to share our knowledge and digital CRM capabilities in other jurisdictions across Africa, where it became mandatory for all banks to implement similar processes for tracking customer interactions and customer issues. We have already deployed all the VeriTouch CRM modules and they are being used 100%. Soon, we will be launching the Next Best Action (NBA) module. NBA is focused on using sophisticated rules, analytics and algorithms to better predict customer needs and in turn offer more relevant actions and offers leading to improved wallet share and loyalty. It requires a lot of data, but will ensure our front-line teams have the customer insights to cross sell and serve our customers even better.” Adewale Salami, Chief Technology Officer, FirstBank, Nigeria

& & 20 The

Most

SUCCESSFUL

BUSINESSWOMEN to Watch, 2020

kimberly Khoury

Paving her Way in Sustainability Development

Aaron Gladman CEO, Card Services Intercash

With a variety of customizable products and a turnkey solution for our clients, Intercash is proud to support businesses and nancial institutions from around the world.

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The 10 Renowned E-Banking Solution Providers of 2021

Intercash Customized Global Payment Solu ons for Your Organiza on

hile most businesses were already trending towards a more digitized way of life, the ongoing COVID-19 pandemic has thrust the world into a digital revolution. All of this has only served to reinforce the online industry as more and more people begin to embrace e-commerce.

W

The company recognizes that every client’s payment needs are unique and can vary depending on the vertical, the location of the company and many other factors. Its vision is to provide customized card programs, and other payment options that are designed to suit the needs of each particular client.

This pandemic has helped several people and businesses by forcing them to forego traditional payment methods in exchange for a more efficient and convenient solution. The online banking industry has gained significant traction during this pandemic, and it is believed this trend will continue even after the health crisis is under control.

Managing the Payment Needs Intercash offers a number of popular payment solutions for

Taking this significance into consideration, Intercash is providing clients with the products and services they need for success in the Banking industry. Intercash is the world’s leading provider of prepaid card payment solutions and technology, with over two decades of experience, innovation, and satisfied customers. Through PrepaidGate. their complete and secure payment technology, Intercash has not only pioneered the prepaid card industry across borders for a global reach, but also provides services in multiple languages and currencies alike.

Creating Prepaid Card Programs Growing from a small business to the thriving company it is today, Intercash has come a long way over the years. It began offering card programs exclusively in Canada during the early 2000s but quickly grew into a global organization.

Intercash now offers payment solutions on both the VISA and Mastercard networks, supporting North America, Europe, Asia-Pacific, and Latin America & the Caribbean. www.insightssuccess.com

May 2021 | 17

banking and digital banking solutions. With one simple API and turn-key solution, it enables digital banks to launch a VISA or Mastercard debit card solution in a matter of weeks and with minimal investment. Its clients are not required to invest in their own membership or processing solutions. With their connection to the company, they can extend global spending accessibility to all their clients' accounts, while the company manages the card management behind the scenes. This enables Intercash’s clients to launch quickly and with minimal resources, and allows them to compete with the big players in the market.

Fully Customized Touch Intercash manages to stay fresh by continuously diversifying into new industries, as well as investing in the latest technology to ensure their offer remains competitive and interesting. In addition, Intercash continues its roadmap to partner with digital innovators, creating great complementary products to support its solutions and territorial expansion.

businesses and financial institutions, including reloadable cards, debit cards, virtual cards, and even wearable NFC products. More than just its product offering, Intercash stands apart from the competition with their ability to customize their solutions for each client’s unique payment needs.

Additionally, its ability to issue both Mastercard and VISA cards throughout the world gives Intercash a unique advantage over most competitors. Intercash also offers a full suite of card management APIs, allowing for cardholder-facing functionalities and user experience elements to take place in any third-party interface.

Complete and Secure Payment Technology The ability to adapt with the times is critical to the success of any business. As today’s world continues to evolve as a result of modern technology, it is imperative for businesses to not get left behind. This is especially true when it comes to developing new payment strategies and solutions, as companies should be incorporating the latest innovative technology to stay relevant.

As the world becomes more accustomed to the convenience offered by modern technology, it will be more important for businesses to align themselves with these technological developments.

A Proven Leader With a deep passion for Fintech and quick learning of complex financial flows, Aaron Gladman is the CEO, Card Services at Intercash. Aaron is in the lead role in developing strategic relationships with key players in the prepaid payment space and responsible for Intercash’s new product development and global expansion initiative.

He establishes and maintains partnerships for creating new sales channels via payment platforms, gateways, networks, and brokers. Aaron guides the internal project management team, providing direction to design the framework for international prepaid card issuing programs in multiple countries and currencies.

Sharing his experience to up and coming leaders in the industry, Aaron says, “If I were to give any advice to a budding entrepreneur looking to enter the Banking industry, it would be to focus on the client experience. Some banks tend to forget this important rule of business, but it can make all the difference for your financial institution. This can be as obvious as offering the prepaid cards and debit cards client prefer, or something more subtle such as a branded banking portal for a seamless user journey”.

Services in Multiple Languages across borders With over 20 years of experience in the Payments industry, Intercash has developed world-class expertise in payment management and services. It has become a global leader in card-issuing over the past two decades, providing turnkey services to countless businesses and financial institutions throughout the world.

Pioneered the Prepaid Card Industry for Global Reach Intercash has a unique proposition in the market of e-

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Banking Revolution

Far Beyond Ju S

ince the dawn of time, banks have been at the center of the organized society. The banking sector has gone to extreme lengths to provide sustainable banking services. Banking service providers took risks, challenged the unknown, and changed our ways of life dramatically by providing sustainable banking services.

Evidently, industrialization and globalization have revolutionized the banking sector with a focus on economy increase, and strong progress was made.

The Ground Reality The approach to solve the global economic problem came through digitization of banking, that is by switching the traditional practices and historical knowledge to the new data-driven practices and real-time insights available using technology. Here are some solutions to the upcoming problems. Ÿ National Security – By 2050, Earth’s population will have reached 9 billion people and global security will be increased by over 60%. So, if banking institutions are aiming to secure the entire population, they will have to introduce cutting-edge e-banking solutions to fulfil this requirement. Ÿ Climate Change – There are already enough factors to contribute to the global annual emissions and impact the climate. Vice versa, climate events like drought and frost are the major disaster to humans. So, going paperless would be the best option which e-banking solutions companies provides to us. If not much, but this can definitely lessen the impact on the deforestation due to the paperless transactions. Ÿ Self Sufficiency – The global covid – 19 pandemic made everyone realize how fragile the globalized economic

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ust Banking system is. Disruptions left many people without access to banking transactions. Creating a sustainable selfsufficient system – e-banking solution providers puts a strong focus on making banking and financial transactions available for the people.

The Best Option Currently The current pandemic has certainly brought banking businesses to unavoidable risks. Banking businesses have identified new trends with the increasing number of requests from clients, while addressing new challenges.

Ultimately, it has ended with digital transformation, as ebanking solution providers were able to provide innovative solutions to their customers. As the crisis forced banks to shift to work remotely, the digital banking solutions ensured their employees stay safe and are available to meet the needs through digital channels.

Now, they are ready to change and align their offerings with newer technological developments to address new market trends.

The digital transformation of the entire banking industry is essential for solving the global financial problem. It is focused on both changing the way people live and empowering collaboration between the technology and people.

All-Round Solutions

them in adopting new concepts of the banking system that focus on safety to mitigate the risk and ensuring efficiency to bring profitability. The change is in adopting a new way in which companies collaborate to secure a sustainable and efficient supply chain.

It won’t be wrong to mention that in the current business scenario, digital transformation is the key to meet the specific requirements of the banking industry.

Even the customers are adapting to new technology, as the ability to adapt with the times is critical to the success of any business. As today’s world continues to evolve as a result of modern technology, it is imperative for the businesses not to be left behind.

The Takeaway E-banking solution providers are helping financial institutions to transform from operational structure to a complete digital banking environment. These companies are offering e-banking to customers at their fingertip. They are providing various digital banking solutions covering all aspects of banking, right from account opening to all the banking transactions, and applications for credit. These companies are also helping other banking businesses in connecting them with their customers digitally and promote the products and services.

In a nutshell, e-banking solution providers are helping customers build a better world – making sustainable progress and driving positive change in every field.

The solution is not just about bringing a simple technological app to people; it is also about supporting

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Vincent Jeunet CEO

New Access

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The 10 Renowned E-Banking Solu on Providers of 2021

Enabling Digital Transformation with Advanced Digital Wealth Management Platform

F

rom last few years we observe a dramatic shift to utilizing digital services. It is todays even more important for private bankers and wealth managers to connect with their clients anytime, anywhere, conveniently, and efficiently. Enabling efficient and smooth digital access of banking services to clients is essential for private bankers and wealth managers to increase the satisfaction of their clients. In a complex and changing regulatory environment, New Access helps bankers and wealth managers connect conveniently and efficiently with their clients at all times and at any location.

Vincent Jeunet is the CEO of New Access. He has an entrepreneurial mindset and strong transformation background. He is a leading and outstanding core-to-digital solutions player for private banking and wealth management. Vincent considers it is essential to build network, be patient, resilient, curious, and determined to succeed in banking industry.

Leveraging Two Decades of Experience in Wealth Management New Access is a leading provider of a scalable and modular Core-to-Digital solution suite designed to meet the specific requirements of the Private Banking and Wealth Management industries. The company enables digital transformation and improves satisfaction of clients with its digital front-end solution, including an advisor cockpit, Client Lifecycle Management (CLM) and a client/EAM portal.

New Access operates since 20 years exclusively in the private banking and wealth management sectors, supporting

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more than 55 customers, globally. It leverages its extensive experience in wealth management.

Providing Agile and Scalable Digital Solutions New Access provides agile and scalable core-to-digital solutions dedicated to private banks, wealth managers and asset managers.

A Core-to-digital solution suite of New Access Consists of: • APSYS Core Banking System Inc. CIM Client Data Management System LAS Electronic Document Management System EQUALIZER Portfolio Management System • Banker’s Front Digital Client Lifecycle Management • System Accelerating Digital Transformation to be on Track The current pandemic has brought businesses to unavoidably adapt themselves. In this context, businesses have first observed a slight freeze of major investments and projects initiatives. Because of the uncertainty brought by the situation, financial institutions appeared a bit more reluctant to pursue their investment strategies.

From end 2020, businesses clearly identified a new trend with the increasing number of requests coming from clients willing to continue to digitalize their processes, invest in their platforms to address new challenges.

In Vincent’s opinion, the crisis itself first marked a huge stop, but it ended up being an accelerator for financial institutions after some time. Private Banks and wealth May 2021 | 23

New Access provides an advanced and comprehensive Digital Wealth Management platform supporting the entire Client Lifecycle Management.

managers have now learned that they need to accelerate their digital transformation to be kept on track.

Efficient and Smooth Digital Transformation Process As a provider of award-winning solutions, New Access allows private bankers and wealth managers to go through their digital transformation smoothly and efficiently. It provides them with up-front digital solutions that allow them to put their HNW clients at the center of their concern.

It supports its customers worldwide with scalable and modular solutions with openness to third part API’s.

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New Access is driven by providing the best service possible to its clients. It is always looking to find the best technological partner with the most useful and user-friendly feature to help private bankers and wealth managers achieve their business ambitions.

Providing Reliable and Innovative Solutions As a private banking and wealth management software provider, main duty of New Access is to be able to provide prospects and clients with reliable and innovative solutions.

In Vincent’s opinion, businesses have the chance to evolve in an ever-changing finance industry always bringing forth new challenges. He believes that businesses must be ready to change if necessary and align their offerings with newer technological developments to answers new market’s needs and address new markets trends.

Vincent states that businesses have a great example of crypto currency taking more and more space in the financial landscape, therefore he says software providers must be ready to address the technological challenges linked to it.

Maintaining Competency by Investing in Technology and People To sustain the competency of New Access, Vincent says that the company first needs to be able to serve its clients and to fill their rising appetite on digital.

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From several weeks in Switzerland, there is a birth of an initiative led by several banks aiming to standardize compliancy for external asset managers: ‘the WeCan Group’. More and more banks are joining this association and Vincent believes that New Access must be ready to offer standard processes aligned with what WeCan Group will define. Vincent says that this is where future investment of New Access will lead to.

On another hand, Vincent says that New Access also needs to continue to proceed some technological upgrades as it is its definition as a software provider. It also needs to continue investing to downgrade the technological debt it might has and continue investing into digital functionalities that allow its clients to be in line with their business ambitions.

Currently New Access has 150 developers, and as it does with technology it also invests in people to be able to build a development factory enabling to answer as quick as possible to its clients and their needs.

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Satisfied Client “Decisive is a next-generation, ultra-high net worth advisor. We are growing fast on all levels: investment opportunities, assets, and clients. And we set the bar very high, both for ourselves and our business partners. Today, we are partnering with New Access to accelerate our digital transformation and we are sure its dynamic and forwardthinking, best-in-class platform is the right match for us to service our clients. When our clients win, we win." — Elie Chamat, CEO of Decisive Capital Management

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Mohammed Al-Rashidi Founder and the Execu ve Chairman

One Global™

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The 10 Most Empowering Women in Business, 2021

One Global™ Ensuring Holistic Digital Financial Services with Convenience and Security

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ith the advancement of technology, the world is looking for many customized solutions in every aspect of life. Improving lifestyle is always on the bucket list of people and businesses and that's also the important part of the evolved human culture. Adapting the best of methods that enhances the way of life is always good for humanity. The importance of being available on online platforms for businesses is the most critical aspect in the present times as many people are preferring to manage most of tasks through the mobile applications and websites.

The institutions that are able to provide the online services become more popular with the people. One Global™ is a Digital Transformation and Innovation Company, specialized in the fintech arena, with 2 million customers on board.

One Global™'s vision is to elevate humanity by connecting life. Started its journey in 2004, the company is a global player with a strong presence in more than 16 countries worldwide across GCC, Middle East, North Africa, East Africa, Europe, US & Canada.

Mohammed Al-Rashidi is the Founder and Executive Chairman of One Global™. Passionate about the mobilization of lifestyle services, Mohammed acts as a transformer to the current infrastructure of verticals markets.

Driven by In-house Innovation One Global™ is driven by in-house innovation and offers a wide range of Mobilized Lifestyle® services via its vertical markets Og Money™, Og Health™, Og Travel™, Og Play™, Og Life™ and Og Business, to deliver to consumers and businesses via native cloud and web hosting services. In addition, Mobilized Lifestyle® services for businesses include developing, managing and maintaining mobile applications, software and websites, software interfaces and wearables by bridging private and public cloud across the globe. www.insightssuccess.com

Og Business™ is bringing a fully functioning payment collection and acceptance to all size of businesses. It is empowering SMEs and Large Enterprises to manage Receivable Payments. Og Money™ offers one stop shop for all user's bill payments, top-up, utilities, tuition in smart, easy and ubiquitous payment experience. Og Travel™ delivers a personalized travel experience; allowing users to effectively plan and manage their travel experience. Og Health™ offers digital health services with preventive care and privacy. Og Play™ delivers high end quality of entertainment experience through portable devices with rich contents and services.

On a Way to achieve its mission to offer smart life as a service Ÿ Licensed by Central Bank of Bahrain as Payment Service Provider (PSP). Ÿ Licensed by Central Bank of Jordan for Nationwide Biller Hub enabling all billers to post their bills for electronic payment processing. Ÿ Mastercard Platinum Digital Vendor Partner, implementing all Mastercard new innovative services (MasterPass, MasterCard Send, MDES, QR). Ÿ Microsoft Golden Partner in Mobility, Midmarket, Application Development, Cloud & Data Center, ISV, and Co-Sell competencies. Ÿ PCI / DSS latest version 3.2.1 certified secured Data Center. Ÿ Banking Grade secured Data Vault and tokenization platform. Ÿ Digital Identity Steward member within the SSI Sovrin Network (Identity-for-All). Ÿ Ability to offer tokenization, Card-on-File to Banks & Banks Customers & Merchants. Ÿ Among First in MENA with a Digital Credit Card payment on Mobile for Mastercard in seamless customer experience method. Ÿ Digital Travel & Digital Health innovative player. Ÿ Digital Goods and Services to multichannel distribution.

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Accelerating Digital Services in Pandemic Pandemic is expediting digital transformation and many services have been digitalized during it, importantly to mention Digital onboarding, Contactless Payments, Online Loans, and real-time data analysis. Also, it is leading to an increase in Neo Banking.

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Strategic Innovation of E-banking companies In the opinion of Mohammed Al-Rashidi, digital economy trends that accelerated during the pandemic continue to present growth opportunities for the wider industry.

“Digitalization will become a simple commodity, so the challenge will be to establish a cognitive economy – meaning a completely different production ecosystem built on top of digital solutions.”

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One Global (Og) has innovated a Digital Transformation and Corporate Innovation platform that enables innovative startups to enroll their services into an ecosystem within a Single SDK to be consumed by Banks and Financial Initiations

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Delivering Most Comprehensive Solutions Business Automation Distributed Cloud Computing Smart Contract Tokenomics Crypto Gateway Digital Custody Bill Presentment and Payment Credentials on file (CoF) Wallet as a Service (WaaS) Payment Checkout and Gateways Customer Digital Onboarding Open Identity and Access Management Single Sign-On (SSO) Regulation Technology and Compliance Digital Invoicing and payment collection Dealership network of Agents Vaccine Data Management Wellness Survey Corporate wellness Hotel Travel Booking Engine Ticketing Travel Booking Engine IATA New Distribution Capability (NDC)

Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ

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Autonomous Screening for Sanction lists, Credit Scoring, Wallet, Checkout, and many other services that banks and financial institutions can embed within their Frontends Apps, POS, Web, and others that can enable them to achieve Omni-channels objectives.

Utilizing Technology According to Needs of the Businesses Talking about necessity for businesses to align their offerings with newer technological developments Mohammed states that it is essential to position all services of businesses on technologies; however, not all technologies can serve best needs of the businesses. He says that it has to be balanced depending on the business nature, needs and customer segments.

Concise and Meaningful Advice Mohammed advises aspiring entrepreneurs to build value chain partnerships within the industry and try to play an effective role within this value chain.

Envisioning Completion of a Mission Taking into consideration the company's vision to elevate humanity by connecting life, and one of its missions to provide smart life as a service by 2030, Mohammed envisions that One Global™, within five years from now, will be halfway to fulfill them.

To that extend, Og is launching two major projects: Og Hub and Og Stack. The first is the Startups' village, where young entrepreneurs go through a schooling journey of business modeling mentorship, workshops, seminars, conferences, and challenging activities in Deeptech Technologies' Programs that help them graduate in becoming better Intrapreneurs or Elite Entrepreneurs to create their own companies. The second is the Enterprise Digital Transformation & Corporate Innovation Platform, to scale up selective Startups and accelerate Open innovations to the global markets, incubators, corporate accelerators, global investors, venture capitalists and various business clients.

Digital Transformation and Corporate Innovation Platform One Global (Og) has a Digital Transformation and Corporate Innovation platform that can enable innovative startups to enroll their services into an ecosystem that can fusion their services and others within Single SDK to be consumed by Banks and Financial Initiations. Within this platform, one can find for example Digital KYC, www.insightssuccess.com

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Leader’s Viewpoint

M

uch has been said and done about security in recent years, both physically and logically.

The appearance of threats grows exponentially and therefore, more and more powerful software takes care of the assets of companies, and more impregnable physical obstacles close the possibility that something is lost, stolen or accessed, but ... is this enough?

Many argue that yes, or that if the software or hardware that protects us does not exist today, it will soon be available on the market. Others of us think that no, that the vision of the solution is not entirely correct.

Every process, system, technique, procedure or set of linked elements is just as weak as the weakest link in that chain.

In the case of security, the weakest point in any chain is the intervening human being.

One might wonder if, being this the case, people cannot be controlled, and generally we would risk a positive answer.

In fact, we can (and do continually) put multiple means of secure identification, traceability elements of operations on critical data, connection logs for audit, authorization levels, etc., etc., and all this gives us a sense of security extreme, invulnerable, or at least all we can afford, but ... are we really as safe as we think?

The answer may not be as clear or concise, much less definitive.

Why? Because we still have a strategic element that may be weakened or may not function according to what we need, and most likely it is not fully covered by all the existing technology, and this is, the personnel who carry out actions in the environment.

In general, much of the security is thought to block external threats, to prevent malicious access, and to have control over the information or the assets of the company.

We hardly find a company today where information is not its main asset.

However, what happens when the risk factor is positioned on someone who has the keys to the kingdom, that is, access to facilities, data, printers where to dump information, portable storages, and a whole range of elements that, in the wrong hands, are more than dangerous?

We racked our brains and wondered how this could happen?

Can't trust employees? Certainly yes, but only if they are considered for what they are, human beings and company capital.

From the management or high commands, a constant but subtle mistreatment, ignorance about opinions, discredit about the assertions of our people, the lack of reward (even moral) for achievements (and perhaps some punishment or no reward for bad habits and the lack of achievements, although it sounds bad to us), mistrust, the lack of formation of a solid work group, and the lack of leadership among other factors, make the person, this human being who works as a resource in our company, can fail or violate security, voluntarily or involuntarily.

On the other hand, from the orbit of the people who work for us, the feeling of not belonging to the company, of not being listened to, lack of motivation, non-shared objectives, fear of losing their job, economic shortages, the lack of vision of the future in the company and many other negative elements are realities that may be present among them.

For the first ones, where control is held by those of us who lead, the work is not easy but the path is more passable. If these things are happening to us, perhaps with outside help, and with our strong involvement and planning, we can settle or reverse them. Of course, none of this can be done alone, and it must be done in full conscience by the entire management and higher ranks.

For the others, the work is much more difficult because we have no control, and therefore, we must be measuring all the time the reaction to our actions, the results of each established condition, the changes generated in these elements from our maneuvers, and above all, the impact of our decisions.

Measuring or corroborating is not easy, because to do so requires a culture of sharing and not compartmentalizing, of strong and real values that can be felt on a daily basis, of serious, honest, clear and extreme communication that is not generated from a day to another, and above all things, of great vocation.

It is very important to consider that, if the first thing is happening, the second inevitably is also happening, with which the panorama becomes much more complicated,

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A Humanistic View of

Computer Security

Daniel Raúl Sachi

Director General ROI Agile International

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because two work fronts are opened and to this is added the variable time, no minor issue in this type of scenario.

We must first change our way of doing things so that instances of dialogue and common work are opened, and that, in this way, what is not under our control begins to change and to be. But this is not going to happen spontaneously and requires a lot of help.

Communicate (or hyper communicate) as much as possible, open our game, generate internal opinion groups, perhaps even generate some quality process or continuous improvement to stimulate change, and work, for example, in the adjustment of remuneration according to market and / or workload, are some first steps to attack the issue in a general way, but the richest and most productive part is going to be the one we do with each individual.

We must not forget that we deal with human beings, and that each human being has their own needs, visions of reality, feelings and opinions, therefore, there are no single, generic, or massive solutions. Each fiber must be pulsed in the correct way for things to change, straighten and produce the expected results. And we must be good players of this music.

Here, software and hardware no longer help us. Here the work is much more profound and casuistic, here the methodologies are not worth by themselves. At this point, empathy, a sense of justice, open-mindedness, active listening and a proactive attitude make for success, and each achievement will be just a specific and individual achievement, although perhaps some individual achievements will have a positive impact in the rest.

The problem is that, generally, in the branches of study based on technology, we are not prepared for this. Our variables, although they can be multiple, are always finite, while in human relationships they are infinite, and even unstable depending on the occasion, since the same person can act differently or have very dissimilar views on a problem depending on the situation, moment and changes in their own variables (family, friends, health, etc.).

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It is necessary to take this issue in depth if we want a true security installed in our company, if we want to reinforce our work chain and make sure that our assets are safe.

Perhaps we should change our gaze, perhaps we should at some point be less technical and more human, perhaps we should learn to relate more from the person we are rather than from the position we occupy, and also, we very likely need help for this.

Coaching activities for managers and middle managers, organizational climate reviews, internal surveys, and in general, work on excellence in the treatment of human capital in companies, are more than valid tools in the ordering and reaffirmation of the quality of our security, and as we can guess, they are more on the side of the human resources areas, than the technology area, therefore, the time has come to analyze new paths, to travel together with new travel companions.

A good way to start doing something with this is to make a list of the negative things that we see in our company related to personnel or their relationship with them, either one of those mentioned in this note or others that appear in the review.

Let's analyze each of the negative factors found in conjunction with the human resources area (or with an external advisor on the matter) and see what is being done or can be done in the short, medium or long term, to solve them, cancel them or minimize them.

Let's also examine the current impact of each element found, and also the cost of implementing the solutions in order to see each problem in its full magnitude.

Only after this, let's plan together with our new partners, the actions to be developed.

Of course, there is a long way to go, and nothing can be solved with just a couple of actions, but we must be aware that, if any of the problems mentioned here is part of the reality of our company, it is time, without delay, to undertake the change…

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The 10 Renowned E-Banking Solution Providers of 2021

Processware Systems

Facilitating Digitalization of Financial Institutions

W

ith the world going more digital, there is an increasing need for online assistance or solutions to meet the financial needs of the users. Banking service comes under the category of most essential service. Today, banks have no choice but to adopt technology at a rapid pace to be relevant in the marketplace.

Most of the people of young generation lead their life digitally, more on the mobile phone, and expect their bankers to offer services digitally. They are least interested in visiting a branch of the bank. Therefore, having access to banking service anytime is more possible with online services. Financial institutions should be able to provide online services, financial inclusion so that maximum people can benefit from these services anywhere and anytime.

Several fintech companies in world have been able to capture a large slice of this market, by offering digital services.

providing services to customers, whereas Processware focused on developing mission critical applications for financial services industry.

Processware was the first company in 2011 to provide BankSoft – a core banking solution on the cloud. It is a comprehensive solution aimed at meeting the requirements of the financial institutions. Built on latest technology platform, the solution offers unparalleled scalability and security to banks.

Processware has firmly established its position in the software market, as a solutions provider. The company has been able to gain the customers confidence in providing quality solutions to business problems. In an ever-changing IT scenario, Processware has been able to design and implement novel solutions for its customers, both in India and abroad.

Processware Systems Private Limited is one such organization which has focused its efforts on bringing new innovations to financial services industry. Its vision is to enable financial institutions across the world to adopt the necessary technology to foster their growth in terms of customer acquisition, financial inclusion, and product innovation. It is one of the earliest software product companies in India. Guru Murthy is CEO of Processware Systems Private Limited. Established in 1989, Processware focuses on enterprise products for the Indian market and product development services for overseas markets.

Addressing Financial Inclusion of Excluded Population Processware has a unique suite of solutions to address financial inclusion. The solutions are completely integrated into BankSoft Core Banking solution. These solutions enable financial institutions across the world to continuously innovate and serve the excluded population.

The strategy of having hub and spoke model, where branches have extended arm (through agents) to address larger section of population in hard-to-reach areas will help in reaching the goals towards financial inclusion.

Designing and Implementing Novel Solutions Processware’s three-decade journey has seen the software product industry in India grow to newer heights. During the early years, many software companies in India focused on

Being Innovative and Providing Comprehensive Digital Services Pandemic has been a catalyst in promoting the online banking services. Even conservative bankers have realized

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Guru Murthy

CEO of Processware Systems Private Limited

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the importance of offering digital banking services to their customers. Pandemic has accelerated the adoption of technology in the financial services sector.

Constant innovation in the product line and excellent customer support have been the two key factors in BankSoft being popular in the market. Processware’s complete digital banking suite are helping financial institutions to transform from legacy operational structure to a complete digital banking environment. It is offering a comprehensive suite of digital products for retail banking including digital customer acquisition, credit origination, AI based credit scrutiny, and doorstep services through assisted channels.

Covering All Aspects of Banking Processware provides financial institutions various digital solutions covering all aspects of banking including customer acquisition, account opening, transactions, and application for credit. It helps banks to connect with their customers digitally to promote the products and offer several services.

Providing Much-needed User Friendly Features Processware has been successful in bringing prudent business solutions through its innovative products for enterprises in India. BankSoft, ProdMaster and EduSoft

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“

Processware Systems Private Limited is a leading solution provider in banking, manufacturing, education, and aerospace markets around the world. have gained vast reputation with customers in their respective segments. These enterprise-wide solutions enable customers to effectively manage their operations and provide much needed user-friendly features. BankSoft was the first cloud-based core banking solution in India, which was launched in 2011. BankSoft has processed more than 50 million transactions on the cloud as on date. BankSoft – suite of digital banking solutions is helping financial institutions to attract millennial customers.

Ensuring Secured Access to Financial Data Mobile banking allows the financial institutions to extend their customer reach, without investing in physical

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infrastructure of establishing a branch. Processware has developed a full-fledged mobile banking application running on Android. The application allows the user to manage all their accounts and transactions with their bank.

The solution has a built-in 2 factor authentication to ensure secured access to financial data through mobile devices.

Mobile banking solution is completely integrated into BankSoft Core Banking Solution. The user will be able to view all their accounts and perform necessary transactions on the mobile.

Envisioning to be a Pioneer in Digital Banking Space Processware attributes its success of having long term relationships with their customers through constant interaction. The company conducts annual customer meets to communicate to them the changes in technology, regulation, and customer behavior. It aims to increase its customer base to 1000 in the next five years and be recognized as a pioneer in the digital banking space.

Ensuring Successful Journey in Digital Space Mr. Murthy says that entrepreneurs should have patience to work in this financial services sector. He says that the customers expect lot of handholding in the digital space, since the staff in the bank sometimes may not be quite skilled in using these platforms. Hence, Mr. Murthy says that entrepreneurs need to work with customers in ensuring their journey in the digital space is successful.

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