KUALA LUMPUR, Oct 27 (Bernama) -- MonetaGo and SWIFT have achieved an important milestone in the global fight against fraud and duplicate financing with the live launch of the Trade Financing Validation Service provided by MonetaGo over the global SWIFT network.
In a statement, MonetaGo said the service was the first third-party service in trade available through the SWIFT API channel. “For the first time in the history of trade finance, there is now a global standardised system to check duplicate financing. “The additional authentication services availed through the same system will provide greater assurance to lenders on the integrity of their financing transactions,” said MonetaGo chief executive officer Neil Shonhard. SWIFT wholesale payments and trade strategy head Shirish Wadivkar said the validation service is a great example of how MonetaGo’s API platform could be harnessed to provide a single solution to help banks tackle fraud and financial crime at the international level. The Trade Financing Validation Service’s live launch came after the successful completion of the pilot phase which saw the participation of 20 institutions on four continents, MonetaGo said. “The service can now be accessed by all the 11,000 plus institutions in the SWIFT network. “The participating institutions included some of the world’s largest trade finance banks, representing lenders in the US, the UK, Europe, Asia and Australia,” it added. MonetaGo said the trade finance industry has a natively global solution that is interoperable by markets, institutions and platforms, enabling financiers to catch and stop cross-border fraud with the launch of the validation service over SWIFT. MonetaGo provides the first-ever global solution to duplicate financing fraud in trade finance and is the world’s foremost provider of such technology to prevent both domestic and cross-border duplicate financing. -- BERNAMA KUALA LUMPUR, Oct 27 (Bernama) -- Duck Creek Technologies, an intelligent solutions provider, has announced a milestone moment in insurance technology after its platform enabled Australian start-up insurance company, Argyle Insurance, to go live within 60 days.
According to a statement, Duck Creek OnDemand enables Argyle to offer its products through brokers in Australia. The new platform will give brokers access to a wider range of insurers and their products, allowing them to offer their SME clients more choice and competition, improving client outcomes. The sub-60-day execution was achieved via the use of an innovative Australian SME template built by the Duck Creek Asia Pacific regional product development team. The successful end-to-end implementation for Argyle was a coordinated effort with solution-integration partner, Coforge, a global digital services and solutions provider. “Duck Creek and Argyle’s unique relationship comes down to our alignment of purpose and vision that the future of insurance is agile, intelligent and evergreen,” Duck Creek Technologies managing director for Asia Pacific Shaji Sethu said. “We are both focused on driving better, easier-to-understand insurance products, which are tailored to policyholders’ needs and are adaptable to their changingpriorities,” Shaji said. Through Duck Creek’s modern core system, including software-as-a-service solutions for policy, billing, and data insights, Argyle will deploy a hybrid operating model into the Australian general insurance market. Argyle co-founder and managing director Anthony Day said: “Partnering with leading organisations in the insurance sector is key to Argyle’s value proposition. DuckCreek was able to embrace the vision to redefine, through the use of technology, how intermediaries and customers do SME insurance. Duck Creek worked hand-in-hand with our team to deliver our underwriting system in record time.” -- BERNAMA KUALA LUMPUR, Oct 25 (Bernama) -- Jumio, the leading provider of end-to-end identity proofing, risk assessment and eKYC/AML compliance solutions, has unveiled its extended Jumio KYX Platform at Money20/20 USA, with an integrated orchestration hub benefiting from the company’s acquisition of 4Stop. “The new innovations and scope of Jumio’s extended KYX Platform is proof of our unwavering commitment to eliminating digital fraud. “Jumio continues to lead the industry with solutions powered by AI, biometrics and other innovations that help organisations outpace tech-driven fraud advancements, which are expanding in terms of volume, origin and sophistication,” said Jumio Chief Executive Officer, Robert Prigge, in a statement. The platform streamlines fraud and eKYC/AML compliance management with the intuitive one-stop orchestration hub, which brings together global data, risk signals, real-time analytics, actionable insights and a configurable rules engine to help businesses defend against fraud without compromising user experience. With over one billion identity, risk and AML transactions completed for over 1,000 organisations in more than 200 countries and territories, Jumio is delivering on its promise to eradicate online identity fraud and accelerate digital trust for all. The Jumio KYX Platform helps businesses know and trust their users, players, patients – whoever the “X” is in their business – online. Its intuitive orchestration hub assists professionals tasked with protecting the organisation and its customers from fraud, money laundering and other financial crimes during account onboarding, authentication and ongoing transaction processes. Based in Palo Alto, Jumio operates globally with offices in North America, Latin America, Europe, Asia Pacific and the Middle East. -- BERNAMA |
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