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Camunda Launches RPA Modernization Solution Addressing Multibillion-dollar RPA Tech Debt

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Open source software provider Camunda today unveiled the latest release of the Camunda Platform, modernizing fragmented and fragile RPA bot implementations that are costing companies billions of dollars annually to implement and maintain.1 Camunda introduces an enterprise-scale tech stack to orchestrate, monitor, and analyze multiple RPA bots, enabling them to be part of a fully managed, end-to-end business process. This tech stack also provides a ready upgrade path, enabling organizations to replace aging and brittle RPA scripts with scalable APIs that are required for todays digital enterprise. Camundas latest 7.14 release was unveiled today during CamundaCon LIVE 2020.2, the global process automation event of the year.

Fragmented automation initiatives, a patchwork of vendors, incomplete governance models and attempts to automate overly complex tasks stall programs. Organizations that attempt to grow their RPA program must overcome process, governance and culture obstacles, stated the May 2020 Forrester Research, Inc. report, Ten Golden Rules for RPA Success.

In fact, nine in 10 process automation professionals say their organization experiences some challenges from their RPA deployments, according to Camundas 2020 State of Process Automation survey, to be published later this month.

The proliferation of RPA bots within organizations can quickly introduce complexity and technical debt that pose daunting challenges to organizations. While providing value in the short term, they are a band-aid solution. RPA bots grow to be fragile and inflexible over time, costing companies billions and requiring expensive rework, said Daniel Meyer, Camunda CTO. Camundas open architecture supports a lifecycle approach to end-to-end process automation, allowing RPA teams to first incorporate and orchestrate various RPA tools, and then providing the foundation to migrate them to more robust APIs that support true digital transformation.

With todays announcement, Camunda introduces a strategic approach to address common RPA scaling challenges, enabling organizations to:

  • Centrally monitor and analyze RPA bot activities across the enterprise
  • Orchestrate multiple RPA bots along other activities within end-to-end business processes
  • Replace RPA bots with modern APIs/microservices to minimize technical debt

Using the Camunda Platform and following this approach, companies can maximize the short-term benefits from their existing RPA bots, while reducing their technical debt with a path to scale toward the modern architectures that drive todays digital businesses.

Deutsche Telekom is implementing RPA to create better customer experiences, and with more than 3,000 RPA bots at work, requires a strategic approach that will evolve with the business. Going forward, these RPA bots will be increasingly replaced by API-based interfaces, which is readily done in Camunda without having to further adapt the business processes.

Maintaining and documenting our RPA bots as part of a larger workflow is time intensive, and our processes can generate errors that are hard to trace. Camunda enables us to orchestrate the many RPA bots, APIs and other tasks within our automated processes. With this latest release, our team is looking forward to the new catalog for RPA services, which allow us to more easily integrate existing RPA bots into our processes and eventually completely replace them with more robust APIs, said Christoph Anzer, project manager RPA/OREO, Deutsche Telekom Service GmbH.

Camunda Platforms RPA modernization features include:

  • RPA orchestration with BPMN and DMN standards: Configure and automate processes end-to-end using the popular BPMN and DMN standards for process and decision automation to orchestrate RPA bots.
  • Out-of-the-box bridge for popular RPA tools: Increase developer productivity with pre-built connections to popular RPA tools. This latest release includes an integration with UiPath.
  • Catalog of RPA services: Create and reuse templates that connect tasks to existing RPA services.
  • End-to-end process design: Create, edit, and specify end-to-end processes that include RPA task activities alongside BPMN task types.
  • Operational visibility into RPA bot activities: Provide alerts and centrally monitor and analyze RPA bot activities.
  • RPA analytics and insights: Optimize end-to-end process automation through analytics and reporting across legacy systems, RPA vendors and other process components.

Availability Camundas new features for RPA modernization are part of Camunda Platform 7.14, scheduled for distribution on October 13 as a free, open source Community Edition as well as a commercial Enterprise Edition. Open source downloads and a free trial of the Enterprise Edition are available at www.camunda.com/download.

Additional Resources Camunda Platform 7.14 release webinar

RPA Modernization with Camunda

CamundaCon LIVE 2020.2

1 – RPA market revenue is on target to meet Forresters estimate of $2.9 billion in 2021, according to the August 2020 Forrester Research, Inc. report, The RPA Market Has Reached a Defining Moment.

About Camunda

Camunda is an open source software company innovating process automation with a developer-friendly approach that is standards-based, highly scalable and collaborative for business and IT.

A community of thousands of users across companies such as Allianz, ING, and Vodafone design, automate and improve mission-critical business processes end-to-end with Camunda, enabling them to build software applications more flexibly, collaboratively and efficiently, gaining the business agility, visibility and scale needed to drive digital transformation. To learn more visit camunda.com.

Jessica Jaffe or Jill Reed

Sift Communications

[email protected]

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Prosperity Bancshares, Inc.® Announces Stock Repurchase Program

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HOUSTON, Jan. 26, 2021 /PRNewswire/ — Prosperity Bancshares, Inc.® (the “Company”) (NYSE: PB), the parent company of Prosperity Bank®, today announced that its Board of Directors authorized a stock repurchase program under which the Company may repurchase up to 5%, or approximately 4.65 million shares, of its outstanding common stock over a one-year period expiring on January 26, 2022, at the discretion of management.

Repurchases under this program may be made from time to time in open market transactions, and pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. Repurchases under this program also may be made in transactions outside the safe harbor provided by Rule 10b-18 during a pending merger, acquisition or similar transaction.  The timing and actual number of shares repurchased will depend on a variety of factors including price, corporate and regulatory requirements, market conditions, and other corporate liquidity requirements and priorities.  Any repurchased shares will be held by the Company as authorized but unissued shares.

The repurchase program does not obligate the Company to purchase any particular number of shares and there is no guarantee as to the exact number of shares that will be repurchased by the Company.  The Company may suspend, modify or terminate the program at any time and for any reason, without prior notice. 

Prosperity Bancshares, Inc.®

As of December 31, 2020, Prosperity Bancshares, Inc.® is a $34.059 billion Houston, Texas based regional financial holding company providing personal banking services and investments to consumers and small to medium sized businesses throughout Texas and Oklahoma.  Founded in 1983, Prosperity believes in a community banking philosophy, taking care of customers, businesses and communities in the areas it serves by providing financial solutions to simplify everyday financial needs. In addition to offering traditional deposit and loan products, Prosperity offers digital banking solutions, credit and debit cards, mortgage services, retail brokerage services, trust and wealth management, and treasury management.

Prosperity currently operates 275 full-service banking locations: 65 in the Houston area, including The Woodlands; 30 in the South Texas area including Corpus Christi and Victoria; 65 in the Dallas/Fort Worth area; 22 in the East Texas area; 29 in the Central Texas area including Austin and San Antonio; 34 in the West Texas area including Lubbock, MidlandOdessa and Abilene; 16 in the Bryan/College Station area, 6 in the Central Oklahoma area and 8 in the Tulsa, Oklahoma area.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This release may contain forward-looking statements within the meaning of the securities laws that are based on current expectations, assumptions, estimates and projections about Prosperity Bancshares and its subsidiaries.  Prosperity's management does not undertake any obligation to update these statements.  These forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, many of which are outside of Prosperity's control, which may cause actual results to differ materially from those expressed or implied by the forward-looking statements.  These risks and uncertainties include but are not limited to whether Prosperity can: successfully identify acquisition targets and integrate the businesses of acquired companies and banks; continue to sustain its current internal growth rate or total growth rate; provide products and services that appeal to its customers; continue to have access to debt and equity capital markets; and achieve its sales objectives.  Other risks include, but are not limited to: the possibility that credit quality could deteriorate; actions of competitors; changes in laws and regulations (including changes in governmental interpretations of regulations and changes in accounting standards); a deterioration or downgrade in the credit quality and credit agency ratings of the securities in Prosperity's securities portfolio; customer and consumer demand, including customer and consumer response to marketing; effectiveness of spending, investments or programs; fluctuations in the cost and availability of supply chain resources; and economic conditions, including currency rate, interest rate and commodity price fluctuations; the effect, impact, potential duration or other implications of the COVID-19 pandemic; and weather.  These and various other factors are discussed in Prosperity Bancshares' Annual Report on Form 10-K for the year ended December 31, 2019 and other reports and statements Prosperity Bancshares has filed with the SEC.  Copies of the SEC filings for Prosperity Bancshares® may be downloaded from the Internet at no charge from http://www.prosperitybankusa.com.

 

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SOURCE Prosperity Bancshares, Inc.

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RockTree Capital Announces Investment and China Partnership With dYdX Decentralized Exchange

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NEW YORK, Jan. 26, 2021 /PRNewswire/ — RockTree Capital, a merchant bank in Beijing and Shanghai that invests into and advises blockchain projects across North America and Greater China, announced today investment into and China market partnership with decentralized exchange 'dYdX'. RockTree participated in dYdX's $10m Series B round, led by Three Arrows and DeFiance Capital and is partnering with the exchange to accelerate its growth in the Greater China market.

dYdX's total cumulative trade volume across Spot, Margin and Perpetuals increased 40x over the past year, reaching $2.5 billion in 2020. They also make up a group of strategic investments made by RockTree Capital into burgeoning decentralized finance and blockchain projects that include; PlasmaPay, The Graph, Hathor, Centaur and CasperLabs.

RockTree Capital's investors and investment partners in China include Huobi, ZhenFund, DFund, and is led by CEO, Omer Ozden, who said “The top blockchain teams think globally, and understand Greater China is a strategic market which has significant potential to help a project scale. RockTree Capital identifies tier 1 investment opportunities and teams early, like dYdX, and then helps accelerate their growth in Greater China, one of the largest and most liquid blockchain markets in the world.”

CasperLabs, which RockTree Capital is co-founding investor, closed their over subscribed $14m private round in October 2020, and delivers Ethereum 3.0 capabilities to enterprises today. They have been supported by RockTree Capital in the Greater China region for the last two years resulting in CasperLab's largest global community being in China, and a number of major investors and partnerships from the market.

Ilia Maksimenka, CEO of PlasmaPay, a decentralized finance services platform with recent rapid international growth, said “Having both an investor and local growth partner rolled into one like RockTree Capital is highly valuable, particularly for the perceptually foreign and sometimes misunderstood Greater China market.”

RockTree Capital began 2021 by holding an online 'International Investment' event with a handful of its investee projects on Jan. 21, in conjunction with Bishijie, a major media outlet in China, which was streamed to thousands of people from retail and institutional blockchain community backgrounds.

For more information contact: [email protected]

About: RockTree Capital is an international merchant bank conducting overseas finance, and listing execution on a global scale. The RockTree Capital team in Beijing, Shanghai, New York and Toronto includes a full team of multi-jurisdictional lawyers and finance experts speaking Chinese and English who provide a truly international solution in a rapidly evolving blockchain industry.

Related Links

www.rocktreecapital.com

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SOURCE RockTree Capital

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Federal Reserve Announces Finzly as FedNow Pilot Program Participant

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CHARLOTTE, N.C., Jan. 26, 2021 /PRNewswire-PRWeb/ — Finzly, a fintech provider of modern banking applications for foreign exchange, trade finance, payments and digital account opening, has been selected to participate in the Federal Reserve Banks' pilot program for its FedNowSM Service, a new instant payment service that will enable U.S. financial institutions of all sizes and communities to provide safe and efficient instant payment services in real-time.

Most notably, FedNow will allow businesses and individuals to send and receive payments 24x7x365. Designed to support the development, testing and adoption of the FedNow Service, the program will also promote the growth of services and use cases that leverage FedNow functionality. According to the Federal Reserve, more than 80 submissions were vetted “to ensure the program is representative of various types of institutions and service providers, connection types, settlement arrangements and experience levels.”

Winner of the 2020 Finovate award for “Best Enterprise Payments Solution,” Finzly's recently enhanced Payment Hub supports multiple payment networks through a single, consolidated system and will support newer RTP networks, including the FedNow Service. Payment Hub is interoperable, leveraging open APIs in the cloud to centralize consumer and business payment processing, monitoring, reporting and compliance, allowing FIs to provide customers with a more seamless payment experience.
“The FedNow Service marks a turning point in the industry's move to making real-time payments a reality,” said Booshan Rengachari, founder and CEO, Finzly. “We created our Payment Hub specifically to help FIs prepare and go to market faster with newer RTP networks and address the challenges of offering single payment API for multiple payment networks without having to run disparate payment systems from multiple vendors. We welcome the opportunity to be a part of this historical pilot program and help shape the service's features and functionality.”

To view the FedNow release and the list of organizations that have announced their participation, visit here.

About the FedNow Service
The Federal Reserve Banks are developing the FedNow Service to facilitate nationwide reach of instant payment services by financial institutions – regardless of size or geographic location – in near real time, around the clock, every day of the year. Through financial institutions participating in the FedNow Service, businesses and individuals will be able to send and receive instant payments conveniently, and recipients will have full access to funds within seconds, giving them greater flexibility to manage their money and make time-sensitive payments. Access will be provided through the Federal Reserve's FedLine® network, which serves more than 10,000 financial institutions directly or through their agents. For more information, visit FRBservices.org.

About Finzly
Finzly connects financial institutions with customers through a modern digital experience and an efficient, real-time payment services hub. Freeing financial institutions from core system limitations, Finzly's open, cloud-based bank operating system, BankOS, enables transformation and innovation at the speed of fintech. With the freedom to adopt solutions from Finzly and third parties of choice, financial institutions can implement apps in three simple steps – subscribe, try and launch. Serving customers across North America, Finzly has been modernizing international banking and treasury management solutions since 2012. For more information, visit http://www.finzly.com.

Media Contact

Augusta Bauknight, William Mills Agency, 678-781-7214, [email protected]

Nick Beyer, Finzly, 844-792-7783, [email protected]

Twitter, Facebook

 

SOURCE Finzly

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