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American Express Global Business Travel Announces More Than $2.3 Billion USD in New Client Wins Worldwide Including AXA Canada LTD and The University of Nottingham

Company Also Announces $3.2 Billion USD in Renewed Client Business

Global Business Travel Company President Shares Thoughts on ‘The New Normal’ and the Industry Rebounding
American Express Global Business Travel today announced it has won through November 2010 more than $2.3 billion in new managed travel business(1) with clients spanning from small and mid-sized companies to large market, multinational and global businesses worldwide. Transaction volumes are also on the rise and have seen double-digit growth globally. For client contracts up for re-signing, it was also reported that renewed client business accounted for $3.2 billion year-to-date.

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Company Also Announces $3.2 Billion USD in Renewed Client Business

Global Business Travel Company President Shares Thoughts on ‘The New Normal’ and the Industry Rebounding
American Express Global Business Travel today announced it has won through November 2010 more than $2.3 billion in new managed travel business(1) with clients spanning from small and mid-sized companies to large market, multinational and global businesses worldwide. Transaction volumes are also on the rise and have seen double-digit growth globally. For client contracts up for re-signing, it was also reported that renewed client business accounted for $3.2 billion year-to-date.

New clients won by American Express Global Business Travel in 2010 include AMN Healthcare Inc. (U.S.), AXA Canada LTD (Canada), CareerBuilder LLC (U.S.), FIS (U.S.), Health Care Services Corp (U.S.), Logica (France), NCH Corporation (U.S.), NG (H.K.), Regus (EMEA), Societe Generale (H.K.), The University of Nottingham (UK), Triumph (H.K.).

Speaking to the state of the business at the recent VDR industry conference in Leipzig, Germany, Charles Petruccelli, President, Global Business Travel, American Express said, “Since the beginning of 2010, the industry has been seeing a rebound. We’ve seen our business travel transaction volumes increase double digits versus a depressed 2009, load factors and occupancy have improved substantially, and corporate travel spend has come back at varying levels around the world. This is good for our industry and good for the global economic recovery. As we know, business travel is linked to GDP and we’ve researched the link between business travel spend and company revenues. Business travel drives business growth and as a result should be on the radar like every investment watched as a C-level priority.”

American Express Global Business Travel commissioned a study(2) in 2009 that explored the link of business travel spending to a company’s sales and profits. The survey confirmed that over the last 10 years for U.S. companies — which represent almost a third of all business travel spend worldwide – there has been a consistent link between travel growth and revenue growth across all industries. An increase of 1% in business travel corresponded to a 1.7% increase in sales, discounting inflation.

Nevertheless this recession fundamentally challenged traditional business paradigms, and as a result in 2010, American Express Global Business Travel focused on introducing new services and enhancing existing capabilities to further help clients manage and optimize their travel spend. Taking a more direct approach in encouraging traveler compliance, the company saw for example a 26% year-over-year increase in client enrollment of its automated Pre-Trip Auditor tool (PTA). New enhancements allows PTA to manage compliance beyond the travel reservation by providing a second, unique traveler notification, independent of travel out-of-policy message: Pre-Trip Auditor continues to lead the industry by also separately providing T&E instructions, information related to high-risk destinations, company incentives or programs, visa/passport information for international travel and even recommendations for using virtual meetings and using mobile applications while on trip.

With the proliferation of travel applications that serve consumer travelers, it became clear mobile servicing would quickly become the focus for business travel as well. American Express Global Business Travel has thus expanded its mobility offering solutions powered by proprietary technology which is now being used by clients in more than 56 markets worldwide.

“Mobility is a game changing paradigm, and while possibilities are immense and still emerging, the industry needs to adapt. Mobile has already impacted business travel through 24/7 connectivity; expectation for mobile access everywhere (airplane, trains, hotels, cars) and demand for sophisticated, relevant and intuitive mobile specific applications will soon become standard,” said Petruccelli.”

In addition to mobility, Petruccelli also commented that new categories of spend have emerged this year — notably meetings management and mid and small-sized companies which are seeking more business travel management support.

Petruccelli concluded, “The New Normal that follows this economic recession, is in fact here to stay. It goes beyond our industry and has accelerated profound changes, social changes, regulation changes, new economic powers have emerged and many business models across many industries are being reset. For us, a new way of operating will be the consequence – travelers, companies, industry players alike – for all of us today who use, own, operate and/or influence the entire travel value chain. As we see signs of recovery, we need to ensure that we emerge stronger and more relevant for the global and local economy, for our customers, for our employees, for our business partners.”

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New TransUnion Study Finds Smooth Digital Transactions “Essential to Business Survival” During and After Pandemic

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New TransUnion Study Finds Smooth Digital Transactions “Essential to Business Survival” During and After Pandemic 1

Economist Intelligence Unit report for TransUnion highlights the crucial role emerging technologies will play in balancing fraud prevention and customer experience to help build consumer trust

A new global and UK study by the Economist Intelligence Unit for information and insights provider TransUnion has overwhelmingly found the key to whether or not companies go out of business hinges on providing consumers friction-right digital transactions. More than eight out of 10 executives, both in the UK and globally said they believe smooth transactions are “essential to business survival” rather than merely a competitive edge.

“Digital transformation has been rapidly accelerated by COVID-19, with over half (52%) of UK executives, and an even higher number globally (61%), saying they have changed their digital processes as a result of the pandemic,“ said Shail Deep, chief product officer at TransUnion in the UK. “That’s not surprising when we consider some of the changes that have come about as a result of social distancing, with reports of over a fifth (21%) of UK consumers shopping online[i] for the first time during the COVID-19 pandemic. Delivering a smooth customer journey is essential to building trust, yet over two thirds (69%) of UK businesses that made changes to their digital transaction process as a result of the pandemic experienced glitches.”

The global report, “New Dimensions of Change: Building Trust in a Digital Consumer Landscape,” is based on a study with 1,610 executives across 12 countries and five continents, including 180 senior executives from the UK. The research uncovered how technologies like artificial intelligence (AI), national digital IDs[ii] and super-apps[iii] can help overcome challenges to building digital trust.

Artificial Intelligence (AI) and Biometrics Will Play an Increasingly Important Role in Fraud Prevention and Customer Experience

Overwhelmingly global respondents answered that: 1) biometrics[iv] will be the dominant payment customer authentication method, 2) improved fraud detection and security is the greatest benefit to using AI, and 3) a national digital ID system can help prevent consumer fraud.

About three quarters (74%) of UK executives say biometrics are likely to be used to authenticate the vast majority of payments in the next 10 years, although the global response was even higher, at 85%. Approximately four in 10 UK and global respondents noted that improved fraud detection and security is the greatest benefit to using AI. This was the top selection by far worldwide and in the UK, with smoother customer experience coming second at about three out of 10, both in the UK and worldwide.

Furthermore, about seven out of 10 executives in the UK and globally think national digital IDs can help fraud prevention in consumer transactions. This comes at a time when the UK government has recently outlined steps to boost secure use of digital identity, with six guiding principles[v] published in September 2020. These are intended to strengthen consumer rights around digital identity to enable wider use across the country and reports say it could ultimately help boost GDP by 3% by 2030.

John Cannon, managing director of Fraud and ID at TransUnion in the UK said: “Protecting consumers and minimising the risks of fraud they face is crucial to earning their trust, and our research shows that biometrics, AI and digital IDs are seen by businesses as the key to trusted digital commerce going forward. Implementing the right tools and technology, alongside robust policies and processes, can help businesses strike the right balance when it comes to combining fraud prevention with a seamless customer experience. As this research shows, that’s no longer just desirable, it’s going to be critical for survival.”

Digital Identification Technology is at the Core of New Benefits

Authentication and verification are essential in building digital trust and new, cutting-edge solutions can combine a range of technologies to deliver instantaneous verification of customers and reduce fraud risks, whilst still supporting great customer experiences.

TransUnion recently introduced its Document Verification and Facial Recognition solution in the UK to help businesses meet this challenge, by providing customer document and selfie capture to enable real-time, online verification through the customer’s device. Near-field communication (NFC) reading of chip-enabled passports is built into the solution, to strengthen checks on ePassports. This is important given that 65% of UK executives stated that traditional authentication factors, such as birth certificate and passport in digital fraud and identity can overly inconvenience customers who value smooth digital transactions.

In order to fully embrace the new digital solutions available, such as ePassports, businesses need to have the right technology in place. And with identity fraud on the rise – up by nearly a third (32%) in the UK over the past five years, according to Cifas[vi]– the urgency for such tools is clear.

The impact of COVID-19 has fast-tracked the move to digital commerce, with nearly two-thirds of UK consumers[vii] reporting in a separate survey that they are using contactless payment technology more due to COVID-related health and safety concerns, and 61% saying they are happier using contactless payments now than they were in 2019.

In this context, with potential fraudsters seizing the opportunities that ‘faceless’ transactions present, there’s an even greater pressure on businesses to know who their customers are and carry out the right checks, keeping pace with the latest innovations. Only by doing so can they build the digital trust they will need to succeed.

Find out more about the UK report, “New Dimensions of Change” at TransUnion’s website.

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How technology has made us communicate better in crisis

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How technology has made us communicate better in crisis 2

By Pete Hanlon, CTO of Moneypenny

COVID-19 has taught us a lot. We have embraced technology, some might say, survived so far because of it, yet also craved that human interaction. Working hand-in-hand, these two elements will shape our future.

The impact of COVID-19 has been immense, not just health-wise but also economically. To date, people have shown their resilience, adapting quickly to a remote way of working and through the use of technology.

We have embraced working remotely, using video conferencing tools, for example to give us some contact, some ‘normal’. We have proven we can do it, so the question is will this new normal we have adapted to, be sticking around?

Pre-pandemic, Moneypenny was operating in thrive mode and we rapidly had to switch to survival mode. The first challenge was arranging for our 1,000 employees to all work from home during the initial lockdown whilst offering a near seamless service to our customers. No mean feat for a company that had always been office based for our front line people.

Luckily for us, the first Covid lockdown happened 3 weeks after we’d just finished an 18 month long tech project to move our telephony system from on premise to the cloud. This meant we had some options but we did need to work tirelessly to get everyone home without missing any customers call.

We spent February and March trialing solutions and coming up with a plan and then we moved people to home working, team by team to assess call quality. Three weeks later everyone was working from home and it was service as normal for our clients.

This wouldn’t have been possible without a little strategizing and a lot of tech, not to mention a superb team that worked tirelessly to make it happen. Using our already brilliant tech as well as working with tech giants including  Microsoft Teams, Twillio, Workplace by Facebook and Amazon Workspace, for example, who have all reported record levels of usage, we were able to look after our customers and our people. Our weekly mindfulness sessions took place online instead of in the office, team meetings happened virtually  with vouchers for pizza, chocolate brownies were delivered to employees doors  as a well-earned treat and our management teams shared their business and personal experiences via video conferencing.

Maintaining communication was, and remains, key. The very nature of our business gave us a head start in helping businesses, large and small, manage their calls throughout this, specifically tailoring our systems to their specific needs at any given time. Yet, we have embraced further new tech to work alongside our people for our clients: We quickly integrated Microsoft Teams into our systems so that our PAs could keep a track of their clients’ availability and efficiently manage calls whilst clients were working from home; We developed new online screening bots for clients to use in order to give them piece of mind that customers were symptom-free before any necessary meetings and using the same innovations to ensure social distancing and wellbeing to those who come into the office when restrictions allow. It seemed a very natural extension to the support we provide for businesses.

Pete Hanlon

Pete Hanlon

We are also finding that our customers are using our in-depth analysis systems to get a better understanding of call duration and patterns in calls and so on, as well as for reporting. And we are using them alongside deep learning technologies to identify common requests and common themes so that we can better serve our clients.

Before the pandemic there was significant movement towards more of a conversational and interactive experience when it comes to digital assistant technologies. This has only been heightened as natural language processing is advancing exponentially.

This demand for digital switchboard and new innovations has been a growth area during lockdown as companies were looking at ways to manage all their calls without in-house receptionists and switchboards.

As part of our business model, we offered digital switchboard for free to businesses for three months to help them at the start of lockdown allowing people to engage with an automated assistant by simply talking. Through this use, we’ve found that a voice-controlled switchboard is really gaining in popularity following the widespread adoption and acceptance of technologies like Alexa and Google in people’s homes.

A key area of focus for us, is the area of natural language processing (NLP), bridging the gap further between how we communicate and what a computer can understand. The field is advancing rapidly, and we are actively leveraging pre-trained transformer-based models such as BERT, RoBerta, Longformer to analyze and summarize live chat content. We are also monitoring and testing emerging deep learning models, such as Bigbird from Google and GPT-3 from OpenAI, to help advance our chat and digital switchboard offerings further.

Speech detection continues to get stronger. Currently the technology does not outperform our brilliant people, in my opinion, but it is starting to get closer to the matched experience. For us, however, our tech works hand-in-hand with our people enabling them to deliver brilliant and highly efficient customer service. I can’t see technology replacing people anytime soon. I do see it super-charging people in a way to be even better at what they do so we will just have to watch this space.

We always put trust at the heart of our tech roadmap and ask ourselves ‘Do our customers or our customers customers’ benefit from this tech innovation and does it improve the overall customer experience’. If the answer is yes, we progress

And finally, linking back to the relationship between humanity and tech, I believe that the future will be in video-based communication. It is increasingly important to us and we are investigating how deep learning can be applied to real-time video in order to power the future.

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Why cybercriminals have ‘Gone Vishing’ during the COVID-19 Pandemic

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Why cybercriminals have ‘Gone Vishing’ during the COVID-19 Pandemic 3
  • More than 215,000 vishing attempts in the last year alone

As new coronavirus restrictions look set to confine much of the UK population to their homes this winter, cybersecurity specialists Panda Security are warning consumers to be on guard for an explosion in ‘Vishing’ attempts by cybercriminals.

Vishing, or voice phishing, is a social engineering technique used by fraudsters posing as someone from an IT helpdesk or support services, in order to obtain personal information from a victim. They will then look to use this information to hack into secure systems and defraud victims.

Vishing has increased as hackers are taking advantage of employees working remotely. Since August last year, HM Revenue and Customs (HMRC) has received reports from the public of more than 215,000 vishing attempts. These scams often offer fake tax refunds or help with claiming Covid-19 related financial support.[i]

The hacker can be very convincing and will often have done a lot of research into the company and the person they are contacting, to make what they are asking you for sound plausible. At times they even spoof phone numbers, so it looks like the caller ID is authentic and the same number as the real business.

European Cybersecurity Month: Keeping the ‘Vishers’ at bay

During European Cybersecurity Month, Panda Security is raising awareness of the dangers of vishing and is calling on consumers and businesses alike to take some simple measures in order to protect their data.  Hervé Lambert, Global Consumer Operations Manager at Panda Security, gives his top tips to avoid being a victim of a vishing attempt this winter.

  1. Never give out your personal details: You should never give anyone your personal details such as bank details or passwords verbally over the phone or via email. Hackers will often find data about you on the internet and through social media networks and use this to convince you they are legitimate
  2. Be suspicious: It is right to be apprehensive of unknown callers, particularly if you are not expecting the phone call. Ask the caller questions or give deliberately false statements, and if you do not feel comfortable with their answers, hang up and phone the company or person back directly
  3. Don’t always trust caller ID: Hackers can often spoof legitimate phone numbers and make you believe that the phone call is coming from a credible source. Remember that legitimate businesses will never ask for your personal details unsolicited over the phone
  4. Install security measures: While internet security will not completely protect you from fraud, installing measures such as antivirus software will help protect your digital identity and make the job of the hackers much more difficult
  5. Keep calm: Often the hacker will try to panic you into reacting very quickly and scare you into providing them with your information. Take a moment to breathe and slow the conversation down

Commenting on the raise in vishing attempts, Hervé Lambert, Global Consumer Operations Manager at Panda Security says: “Vishing is not a particularly new or sophisticated technique, and yet the “new normal” of working from home has been a boon for cybercriminals looking to exploit vulnerable people in this way. Hackers will scour the Internet and social media networks for any information they can glean about a potential victim before making a call. Once they have secured the victims trust they are then in a position of power to defraud them.”

Lambert continues: “It is essential that consumers take preventative measures to protect their digital identity, while remaining vigilant and question anything that seems unusual. Our key piece of advice remains: never give out your personal details over the phone.”

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