EULER HERMES AGAIN NAMED “FASTEST GROWING TRADE CREDIT INSURANCE COMPANY IN GCC”

Switzerland is set for sturdy growth of 2.4% this year and 2.0% in 2019, though further Swiss franc appreciation against the euro remains a risk should investors turn again to the currency to hedge against tensions in global trade and EU politics.

For the updated rating report, click here.

Switzerland’s credit profile reflects its exceptionally strong fundamentals, low levels of debt and sound fiscal management.

Switzerland furthermore benefits from a strong external position, effective financial policy settings and highly developed capital markets, underpinned by the safe-haven status of the Swiss franc.

The Swiss currency however constitutes a potential source of economic uncertainty. The depreciation of the franc against the euro at end-2017, alongside strong external demand, drove the economy’s buoyant growth in the first two quarters of 2018 at 3.2% YoY. In line with the Federal Government’s and IMF’s estimates, Scope expects GDP growth of 2.4% for 2018 due to the continued strong performance of its main trading partners and robust domestic demand, supported by investment and favourable labour market trends, before flattening out to 2.0% in 2019, as the global economy slows down.

The main risks to future growth stem from international trade tensions and regional political uncertainty, which could create renewed safe-haven pressures on the Swiss franc. This has been amply demonstrated in the past, triggering the SNB’s heavy currency intervention leading to a quadrupling in the size of the central bank’s balance sheet since the financial crisis.

On the domestic front, Swiss banks’ exposure to real estate, with mortgage lending accounting for around 85% of total domestic bank lending, is a source of potential economic instability given elevated household loan-to-income ratios, up 10 percentage points since 2013 to around 50% in 2017. Risks are somewhat mitigated by Swiss households’ ample financial assets, amounting to 370% of GDP.

In addition, while Scope is confident in continuing constructive relations between Switzerland and the EU, also with regards to concluding a new bilateral framework agreement, two key potential strains could emerge, given:

First, the right-wing Swiss People’s Party’s collection of more than 100,000 signatures (to be validated by the Federal Chancellery) necessary for a national vote to discontinue the existing free movement agreement with the EU. A similar referendum in 2014 took place, though the Swiss parliament later voted to ensure new legislation conformed with EU rules.
Second, the status of the Swiss stock exchange within the EU. In December 2017, the EU granted a one-year stock-market equivalence to Switzerland, while the Federal Council adopted a contingency measure, under which, if no extension is made by December 2018, it would require EU stock exchanges to apply for permission to trade in Switzerland.

Scope currently rates Switzerland at AAA with a Stable Outlook. This publication does not constitute a credit rating action. For the last credit rating action release, click here.

Global Banking & Finance Review – Q&A with Tim Simon, Chairman of Madiston LendLoanInvest

With the decline in lending by high street banks in the UK and the growth of alternative financial lenders, what are the major risks a borrower encounters when choosing an alternative lender?

Tim Simon, Chairman of Madiston LendLoanInvest

It is important that borrowers understand the detail of the agreement they’re entering into, the charges the alternative lender makes and what happens in the event of a borrower’s circumstances changing or a borrower defaults. To prevent misunderstanding or bad practice in the future, from 1^st April this year the P2P Lending market will be regulated by the Financial Conduct Authority and that is already having a positive impact on the market and reducing the risks associated with it. Reputable alternative lenders are welcoming the regulation as are the main trade bodies like the P2P Finance Association whose members make up the lion’s share of the market.

Please give a brief description of Madiston LendLoanInvest and how you came into fruition.

Madiston LendLoanInvest is a very flexible P2P Lending site that enables lenders and borrowers to choose how they want to manage their money. There are two markets – Bidding and Matching – with tools for automatic bidding and re-bidding to make life easier for lenders. The Bidding Market shows borrowers’ loan requests so they can put their case directly to lenders. Lenders can also see the borrower’s credit category and all the bids from other lenders so they have information to make individual decisions on each loan request. The automated Matching Market is for borrowers and lenders who would rather the system did all the work for them. With the tools available, lenders have granular control in the Matching Market too, using AutoLend to set up and flex their lending parameters and ARBU (automatic response to bumped-off underbid) to automatically make new bids if their first offers were too high.

Madiston LendLoanInvest is built on Madiston plc’s own P2P Lending software, designed from the outset as a commercially available, customisable platform. Tim Simon, CEO of Madiston, has a background in FinTech (with market leading software for the securities and banking market) but first came across P2P Lending when he was researching music crowd funding for his son’s band. Seeing the potential of alternative finance, he researched the market and now Madiston has the software to provide lenders and borrowers with more choice, and corporates looking to enter the market with a software platform to suit.

What services do Madiston LendLoanInvest offer that differ from their competitors?

The Bidding Market is different within the personal lending space – most P2P lenders for personal loans use the “behind the scenes” Matching Market style. The Bidding Market is seen more often in business lending but we’ve implemented it for lenders on personal lending giving them the opportunity to decide for themselves if they’d like to help individual borrowers but, perhaps, at a higher interest rate.

Madiston LendLoanInvest offers more flexibility for borrowers – if borrowers want to be specific and borrow £1,110 over 15 months, they can. They are not shoe-horned into one, three or five year loans and they can borrow in £10 increments over £1,000. By borrowing only what they need over the shortest period they can afford, borrowers can contain their costs.

It provides more control for lenders – in addition to the controls they have to set up their lending, they are kept informed of every action and transaction affecting their portfolio (they can switch email notifications on or off) with a dashboard and drill-down capability so they can see, to the penny, where their money is, where their interest is coming from, when repayments will be made and how the charges have been calculated.

It caters for experienced P2P lenders – during our research, we learned that lenders were frustrated because they wanted the opportunity to use their own skills and knowledge on the P2P platforms to increase the return on their money. Direct choices on the Bidding Market, detailed parameter settings on AutoLend and ARBU, combined with the information on the dashboard, means they can now get to know the platform and flex their lending parameters as they see fit to get the most from their money.

Do you offer borrowers financial advice?

We don’t offer financial advice but extensive information about the risks, rewards and costs involved is available on the site.

With regards to lenders, how do your services benefit them?

We have built a system which we believe offers many benefits to lenders, not least:

Wider range of borrowers so higher interest rates on offer. One of the most important considerations for lenders is the return they can expect from their investment. Madiston LendLoanInvest includes a wider range of creditworthy borrowers. These are borrowers who just dip below the credit levels offered on the market leading sites, but still pass the credit, affordability and stability checks. These borrowers are under-served in the market at the moment, sitting on the cusp of B/C credit categories but are often attractive to lenders as they are prepared to pay a sensible level of interest to reflect that. At the moment, there are Loan requests on the site where the borrower has only a few credit stars but has offered an attractive target interest rate of 15 per cent. Lenders set their own risk and reward model by choosing borrowers from the range on offer.

Two markets so lenders can control their lending, their way. We operate two markets – a Bidding Market and a Matching Market – so lenders can choose how much involvement they want in their day-to-day lending, from total automation to making individual decisions on every loan.

Lenders’ bids on the Bidding Market are transparent, eBay style. This market is visible on the site, so Lenders can see competitive bids and decide the optimum interest rate to bid for the most competitive loans. This is fascinating to watch as you see bidding strategies in action.

Five portfolios available on the Matching Market for automatic lending. Lenders can set up their portfolios as they wish, perhaps with different risk and reward objectives, giving them granular control over how their money is matched with borrowers. They can set up these portfolios once and let the system apply their parameters without further involvement or they can use their experience to flex the settings over time to improve their returns.

System tools to help achieve the best returns. ARBU is a tool that re-bids automatically if initial bids are too high to be included in the more competitive loans. This avoids the frustration of being outbid at the last minute and missing out on a loan offering attractive rates. Again, lenders choose their own settings so ARBU bids according to their preferences.

An optional Compensation Scheme to protect lenders against defaults and late payments. We offer an optional compensation scheme to lenders so they can opt in if they’d like to have some protection against potential defaults and late payments.

Change in Instalment Plan protects lenders from loans ending early. If a borrower decides to repay his/her loan early, it is the lender that is potentially inconvenienced. The lender, or the system, has to reallocate the money to new loans with an inevitable delay in getting back to earning interest. The Change in Instalment Plan gives the freedom to the borrower to repay early but a small charge is made and lenders are compensated as a result.

Comprehensive information so lenders know exactly what is happening with their money. Quite rightly, lenders like to be kept informed about all events that affect their money. To do this we provide email notifications that inform lenders about everything from a bid on a loan to lenders’ questions and borrowers’ answers on Loan Requests they’re bidding on. This information is also available through an easy to use and informative dashboard, ensuring lenders know exactly where their interest is being earned and how charges are calculated to the penny.

Interest on holding account balances. Madiston LendLoanInvest passes on any interest received in the Client Money account so even when a lender’s money is not lent out, it is still earning a level of interest.

What plans do you have for 2014 to further the activities of Madiston LendLoanInvest in order to provide fair loan options as well as upholding the regulations and high standards of the Peer-To-Peer Finance Association?

Fair is the optimum word – our site is designed to offer a fair balance between lender and borrower with market forces driving the interest rates agreed, so they both feel like the process has been rewarding. As a member of the P2PFA we have been actively involved in the consultation with FCA, the Treasury, HMRC and others to ensure the regulation does its job and we welcome the high standards being set. Madiston LendLoanInvest’s new facilities will be:

Secondary market for lenders to sell their loan slices
Flexible loan product to provide a better solution for borrowers than having rolling credit card balances at high interest
Business lending

LOM architecture and design has been selected to design a state-of-the-art facility that will be Santander’s new world-class digital hub workplace facility. Located in Milton Keynes, the new complex is anticipated to open in 2022, subject to planning, and is expected to accommodate over 5,000 employees.

Santander are the leading employer in Central Milton Keynes.

The brief called for a workplace campus that would foster an agile, sustainable and innovative workplace for the future, reinforcing Santander’s global reputation as ‘the best bank to work for’.

LOM’s winning concept for developer Osborne and Co envisages an entirely new typology of office building for the banking sector, creating a stronger sense of community for Santander staff and a stronger identity for the bank within the wider Milton Keynes community. The campus will provide a sustainable future for the bank, both environmentally and economically. The new digital hub will support and foster collaboration and growth, while reinforcing the reputation of Milton Keynes as a centre for tech innovation. LOM’s design aims to increase permeability and access through the building and the site.

The ground level is conceived as an open, fluid, publicly accessible and flexible space that can be reconfigured and ‘curated’ to suit changing requirements. The design concept proposes a community ‘destination’, where pedestrian activity is enlivened by ‘pop up’ retail units – creating a vibrant and attractive environment for both bank staff and the wider community.

The new building will support health and wellbeing, including a fitness centre, cycle storage and a restaurant and café offering healthy food options. The working environment is informed by a biophilic approach – maximising natural light and ventilation to enhance air quality and encourage direct connections with nature. A sequence of three naturally-lit, connecting atria feature imaginatively planted linear gardens. The upper floors of the building offer flexible workspace arranged around these internal atria.

The proposed site occupies a prominent position opposite the station square and is immediately visible on arrival into Milton Keynes by train.

Nathan Bostock, Chief Executive, Santander UK, comments: “We are excited to be sharing our proposals for this major investment in Milton Keynes, reflecting our long-term commitment to the local area. We want a workplace which truly reflects our culture and our vision for the future, which is based on innovation and harnessing new technology to make banking simpler and more personal for our customers.

“Milton Keynes is already one UK’s leading technology hotspots, and with the new MK:U university on the horizon, we believe it is set to become an even greater magnet for technology talent. Our proposed new campus will give us a world-class home in Milton Keynes, which both our colleagues and the local community can take pride in.”

Richard Hutchinson, Director, LOM, adds:

“Conceived as a ‘compact campus’ Santander’s new digital hub will create a state-of-the-art workspace, offering flexibility and encouraging community engagement through innovative design and place making.”

Conor Osborne, Director, Osborne and Co, adds: “We are naturally delighted to have been chosen as Santander’s development partner. Its new UK digital hub in Milton Keynes will set a benchmark for large scale developments in this country – and we are excited to build a world-class facility tailored exactly to their needs.”

Guy Wellings, Project Director, WSP says: “With the future in mind for Santander’s new Digital Hub in Milton Keynes, we have thought meticulously about all areas of the engineering, transport and environmental practices of the building in order to provide a smart, sustainable, connected and structurally unique work space that promotes an innovative and contemporary identity for Santander. We look forward to preparing for the next stages and continuing the exciting transition to the new culture of future workplaces.”

Subscription model complements perpetual licensing option;
Professional Services maximise investment in information capture;
New desktop scanners deliver embedded image processing at lower price point.

Alaris, a Kodak Alaris business, is expanding its portfolio to provide several convenient and affordable new options for purchasing its award-winning information capture solutions.

Alaris Capture Pro Software and Alaris Info Input Solution are now available as one-year subscriptions in addition to existing perpetual licensing options.

Affordability is the key benefit to customers. According to a survey conducted by IDC[i], the acquisition cost of solutions is the largest hurdle for businesses to clear when automating document-based workflows. A subscription model offers a lower barrier to entry. Customers can pay as they go and align spending with usage of the software instead of investing in a large upfront capital purchase.

An added benefit is that subscription-based pricing gives customers the flexibility to scale up and down based on needs of the business. “Alaris is committed to support clients who choose traditional perpetual licenses as well as those who prefer a subscription-based model,” said Don Lofstrom, President & General Manager, Alaris, a Kodak Alaris Business.

Extending the advantage with Alaris Professional Services

Professional Services are designed to extend the advantage of owning a scanner from Alaris. Alaris analysts, consultants, and trainers have a wealth of image science expertise and are committed to delivering technical and operational support to help customers plan, upgrade and optimise their document capture solution.

Alaris Professional Services include:

Technical Resources that deliver knowledge-based services such as scanner relocation, product installation and configuration.
Higher order Technology Services such as IT Systems Diagnosis and Adoption Services that require specialised knowledge about capture systems, IT infrastructure and processes.
Strategic Consultancy Services that deliver the “blue prints” for meaningful changes to the customer’s business environment through system integration plans and solution architecture.
Tactical consultancy including Training and Optimisation Services focused on improving operational efficiency and increasing productivity.

Alaris Professional Services are commercially available in the US & Canada and EMEA regions now and will be available in other regions in the coming months.

Alaris Tiered On-Site Services deliver productivity and peace of mind

Repair and maintenance service is one of Alaris’ distinct competitive advantages. New Tiered On-Site Service plans are tailored to maximise investment while providing customers with more clearly defined options so they can select (and pay for) precisely the level of service they need.

“Our field and remote service team is constantly training to address the needs of well over 100,000 Alaris and OEM scanners across the world,” said Lofstrom. “First-time fix rates greater than 91% means our image science experts not only fix it right, but do so with the minimum interruption to our customers’business. Alaris is ISO-9001 certified and we only use genuine repair parts. Our unique ability to serve customers around the world with responsiveness, technical accuracy, and professionalism is unmatched in the industry.”

Award-winning scanners underpin the IN2 Ecosystem

Alaris is expanding its award-winning S2000 Scanner line with the addition of the Alaris S2040 Scanner. With a list price of £576, the new 40 page-per-minute device delivers all the embedded image processing power of the S2050 and S2070 Scanners at a lower price point for customers who want a more affordable option. The S2040 features the latest Alaris Perfect Page technology and is bundled with Smart Touch Software. It also supports the Alaris Passport Accessory and the Integrated A4/Legal Size Flatbed Accessory.

“The Alaris S2040 Scanner offers fast and reliable scanning, versatile media handling, and intelligent, automated features to simplify scanning and optimise business processes,” said Lee Davis, Editor for Scanners and Solutions at BLI. Earlier this year, Alaris won Buyers Lab’s prestigious Scanner Line of the Year Award for an unprecedented third consecutive year. “Alaris continues to set the standard for what a scanner needs to be in the age of digital transformation,” said Davis.

[i]IDC White Paper, sponsored by KodakAlaris, Automate Your Information Capture Workflow, August 2017

Denmark’s second largest insurance company now has deep insight into the end-user experience, proactively resolving issues before they occur

Nexthink, a leader in digital employee experience management software for enterprises, today announced that Topdanmark A/S, a leading Danish insurer, selected Nexthink to increase the visibility of its IT environment.

Nexthink helps Topdanmark A/S improve incident reduction and resolution while optimising service delivery and cost savings. Using Nexthink, the organisation’s IT team now has a real-time picture of its applications and services, greatly improving the quality of services provided to the organisation’s 2,450 employees.

As a leading insurance business, Topdanmark A/S has a significant technology footprint consisting of over 3,700 devices. Prior to Nexthink, the organisation’s IT team used a homegrown script-based solution to monitor device performance, which led to time-consuming and labor-intensive investigations, as well as occasional crashes.

Søren Wagner, IT Architect, Topdanmark A/S, commented: “Our main goal at Topdanmark A/S is to help our customers take care of their insurance and pensions. To make this a reality, the IT organisation’s primary concern is ensuring employees have a top-notch digital experience. Prior to adopting Nexthink, a browser crash forced us to rethink our digital experience strategy. We realised that we should focus on monitoring the end-user experience for improved outcomes.”

Thanks to Nexthink, Topdanmark A/S now has data from every device such as desktops, laptops and virtual devices readily available. This means the team can now analyse, visualize and act in real-time across all end-user computing data, proactively detecting and correcting issues at their source.

An important goal for Topdanmark A/S was to reduce downtime for the organisation’s employees. Due to the improved visibility of its IT real estate, the business’ IT team can now discover critical device and user information instantly, verifying that critical systems are running. This helps deliver faster IT incident resolution, ultimately driving better employee experience.

Wagner added: “Nexthink has changed the way we work as we are now able to leverage real-time data from its comprehensive dashboards early on in our conversations with the business. This has resulted in better service provisioning, as well as improved decision-making which is now based on facts instead of subjective input.”

With increasing pressure to become more effective and productive, a new analytics tool for large accountancy practices promises to provide comprehensive insights into business performance, resulting in greater efficiency and the foresight to maximise strategic direction.

IRIS Accountancy Solutions has launched IRIS Analytics in response to partners in practice requiring greater insight into the practice performance.

Issues such as the lack of visibility in client billing, job costs and staff productivity are preventing practices from truly understanding what’s working well and where improvements to service provision can be made. Without insights into key financial, operational and productivity KPIs, partners may miss changing environments and will be unable to respond.

Nick Gregory, Chief Product and Marketing Officer at IRIS says, “Most firms recognise the need to gain a better understanding of their business performance but lack the tools to achieve this. The ability to obtain comprehensive insight into business performance enables practices to identify issues early, drill down into the detail, develop strategies to address them and ensure the business achieves its goals. Analytics can also be used to highlight gaps in a firm’s offerings, allowing the practice to develop new services to support the next generation of clients.”

IRIS Analytics screen shot

IRIS’ view of analytics is supported by an ACCA technology report, ‘The race for relevance – technology opportunities for the finance function’[i] where it highlights the importance of the tools. “Analytics can help companies to see patterns in their data that enable them to predict issues and triggers before they happen, instead of being forced to react to them after the event. It speeds up finding answers to problems, eliminating data silos and ‘democratising’ data itself.”

The information within IRIS Analytics is provided in graphical representation with the ability to drill down for detailed analysis. Partners also have access to historical data allowing comparison to prior performance, set targets for future success and assess achievements against them.

IRIS Analytics is the latest solution to help accountancy practices embrace digital transformation as a catalyst for change. Its best in class tools manage the entire business, from attracting and managing clients through to added value consultancy and practice productivity.

For further information visit:
https://www.iris.co.uk/iris-solutions/accountants-in-practice/iris-analytics/

[i] http://www.accaglobal.com/content/dam/ACCA_Global/professional-insights/the-race-for-relevance/pi-race-for-relevance.pdf

Apps are not only meant for playing games or editing your pictures. Many useful apps can help you plan your budget and save money.

Sounds interesting? Scroll down to read about easy to use apps that help you save money.

Bill Tracker

If you often miss paying the bills on time because of your busy schedule, then this app is meant for you. It will allow you to keep the due dates and amount totals in one place only. You will also get notifications for pending payments, and due dates will be highlighted on the calendar to let you view all the payment dates easily. Bonus, its password protected.

Mint

This app is meant for people who prefer to stay within the budget limits. It tracks all the financial accounts from different accounts and records as well as categorizes every transaction smoothly. It also notes your spending habits and creates a budget for you. This app allows you to deactivate access from the phone through the Mint website which will come handy in keeping your data secure.

Shopkick

This app is best suited for people who want to find great deals and discounts at stores like Best Buy, Macy’s Target, etc. You can earn points for different purchases, inviting friends to join and just for walking into a store. The points you earn can be transformed into gift cards at stores that are partnered with it.

Ibotta

This app lets users earn real money for shopping. You can start by going through varied offers in the product gallery and selecting the ones you want. Every time you finish a task like taking a poll or watching a video, the pending cash is added to the account which can be accessed when you buy the products from retailers who are partnered with Ibotta. After the purchase is verified, cash can be added to your PayPal account or turned into a gift card.

You Need a Budget (YNAB)

Well, what we like best about this app is it’s to the point name. This app has an easy to use interface that’s highly detailed. The software operates by following four simple rules, save for a rainy day, give every dollar a job, live on last month’s income and roll with the punches. The app will change the way you manage money and will make finances stress-free.

RetailMeNot

If you often spend hours in looking for relevant and latest coupons, then this website is for you. It allows you to seek deals and coupons from popular stores like Starbucks, Sephora, J Crew, Forever 21 and many more. The coolest thing about this app is that it saves you from the hassle of printing the coupons. All you need to do is to show your phone to avail a deal. You also get notifications for expiration dates so that you can do that last-minute shopping before the deal ends.

SnipSnap

Last on the list is SnipSnap, another coupons app that allows you to find the best deals with various brands. It also allows you to take pictures of printed coupons and transforms them into digital and mobile-ready versions. You are also allowed to peruse through an online directory and see coupons your friends have snipped. How cool is that!

According to a 2014 study, 69 percent of businesses had at least an application or a part of their infrastructure on the cloud.

With a significant number of business depending on the cloud, it’s security on public cloud be given a serious thought!

Features like flexibility, scalability, immediacy and primary cost-effectiveness move businesses to harness the capabilities of the cloud to their benefit.

However, it is noteworthy that despite the growing dependency on the cloud, existing and growing concern makes business owners cringe over the cloud’s security.

As per a 2014 study, 61 percent of the companies found cloud security as a managerial-level concern.

Security is one of the key obstacles that stand in the path of cloud adoption!

Savina Maryann

So, now the question arises. How do we deal with the supposed security concerns of the cloud?

1) Choice of Apps
In most cases, cloud-adoption starts with app usage, especially those most important to day-to-day business operations. Therefore, it is always essential to assess if the public cloud is the right solution for your business needs or if every app that you use as part of your business does really need the cloud. Once this is done, you’ll have to look for a public cloud computing service provider who has got your security plan all sorted out. Mandate this in your Service Level Agreement too and reinforce this more frequently if required.

2. Additional Security: It always beneficial if business owners take up security as their own responsibility, this can be done in the following ways:
• The business owner needs to come up with security policies on cloud services Dos & Don’ts
• Assessment of vendor encryption capabilities
• Encrypting data as an individual step before uploading it to the cloud is important
• A mutual collaboration over security ensures a safer environment for healthy business operations

public cloud

3) Engaging the Right Third-Party:
Make it a point to cross-check with what your cloud service provider said and what they’re provided. Can’t do it by yourself? Engage a third-party audit service. Third-party auditing entities can audit and assess application of security standards, processes and procedures at a cloud provider and check to see if that’s what they told the client. Moreover, an extended audit over a period of time can assure the business owner of his safe transition to the cloud.

4) Embed Authentication:
Not all, but most of them do provide authentication services for public cloud instances. But in case you are still doubtful, nothing like getting your own tools for adding that extra layer of authentication to your cloud security. But watch out for these layers of security getting to interfere with application performance and later on brand reputation.

5) Scrutinize Singing in and Monitoring:
Studying your cloud service provider’s monitoring and logging for physical cloud instances is also an important measure. Compare with other CSP’s logging and monitoring before you sign the dotted line of the Service Level Agreement. Doing this may bring to light some discrepancies (if any).

6) Bracing Up Against Disaster:
One of the important things you’d want to check is if your CSP is ready and available for an emergency. Yes, when you experience a security breach or a downtime, you will definitely want to have your provider address the situation immediately. Conduct a thorough study and see if your service provider has it all to take care of your security concerns.

7) Closing Books On a Peaceful note:
It’s time to close the contract, you’re on the hunt for a new vendor maybe. In that case, you have to ensure that your data will be secured and given back to you unhampered. You may want to use it internally or forward it to the next cloud provider. How do you do that? Have it written in your SLA; make it mandatory for the current vendor to return all the data that you reserved with them.

Conclusion:
Your cloud journey’s safety is not only your provider’s responsibility, it is a mutual task that the both of you have to share. While security can pose a threat to business over the cloud, measured steps will help reduce the risk of a Cloud breach. Weigh out all the options!

Inviting applications from OTC Derivative ISIN users to encourage wider participation in the development of the DSB Road Map

The Derivatives Service Bureau, founded by the Association of Numbering Agencies (ANNA) to facilitate the allocation and maintenance of International Securities Identification Numbers (ISINs) for OTC Derivatives, has today announced plans for broader industry representation within the DSB’s Product Committee, and is now inviting applications to participate.

From 8^th January 2019, representation will include two new categories, custodians and data vendors, to expand on the existing buy-side, sell-side and trading venues, thereby increasing voting members from 9 to 15. Participation is also open to trade associations as non-voting members, as well as ensuring a balanced representation of asset class knowledge and geographical representation. This latest DSB announcement reflects increasing industry participation in the DSB, and calls from within the industry to be involved in developing the DSB ISINs Road Map.

Emma Kalliomaki, Managing Director of ANNA and the DSB, said, “Being a global utility with widespread industry representation, expertise and collaboration at its core, the DSB is committed to the use of standard identifiers to make the OTC derivatives market a more stable environment within which to trade. Having broader industry participation on the Product Committee to discuss the best possible ISIN creation and use will only serve to bring greater transparency and efficiency to the OTC derivatives market.”

Malavika Solanki, a member of the DSB Management Team, said, “Working successfully with industry over the past eighteen months, the DSB has produced a fully automated open and easily accessible near-real-time allocation of ISINs for 82 product templates. By expanding the composition and structure of the Product Committee and including trade associations in discussions, the DSB can continue to remain agile and flexible as industry’s use of the DSB service evolves. Some examples include additional use cases, hierarchies for ISINs and the creation of proprietary ISINs.”

From 2019, Product Committee discussion will move from developing ISIN products and defining product templates, to solving additional OTC Derivative ISIN use cases and examining the introduction of hierarchies, as well as discussions on what to prioritise. The DSB values representation on a fair and equitable basis within the ISIN user community, and so will be allocating voting participation with 3 representatives from each sector.

The existing Product Committee was constituted for a 2 year period, and this will dissolve at the beginning of January 2019, to be replaced by the new Product Committee. Please follow the links for more details about how to apply and to view a copy of the new Product Committee charter and download the application form. Interested OTC Derivative users of ISINs have until 2^nd November this year to put in their applications, with new Product Committee details being announced on the 4^th December.

Global Banking and Finance Review named Euler Hermes “Fastest Growing Credit Insurance Company GCC” in 2014, for the second consecutive year. The awards honor companies specifically for expertise in the banking and finance industry, and recognize Euler Hermes for its continuing efforts to deliver high quality products and services.

“With over 100 years of experience, Euler Hermes continues to provide customers with the services and knowledge they need to be able to trade and develop successfully,” said Wanda Rich, editor of Global Banking & Finance Review. “Their ongoing commitment to quality is evidenced by their increasing customer retention and growth.”

Massimo Falcioni, CEO, Euler Hermes GCC, said, “We are honored that Global Banking and Finance Review has conferred this award to Euler Hermes for the second year in a row. We also particularly recognized that much of it is due to our customers renewing their trust in our services. This award is an inspiring start for 2014 and we will continue to focus on delivering tailor-made solutions to protect companies of all sizes and sectors against payment defaults.”

The judging panel focused on the following criteria:

A global network with risk offices in key markets, countries and regions
A comprehensive risk database and worldwide risk platform
An extensive range of products tailored to meet customer needs
Customer retention
An increase in premium portfolio
Global and local services and support
Investment in ongoing education and training, delivering highly skilled and professional staff
Financial standing

Euler Hermes established operations in Dubai (U.A.E.) sponsored by Alliance Insurance PSC in 2006 and in cooperation with Allianz Saudi Fransi Cooperation Insurance, a joint venture between Allianz Group and Saudi Fransi Bank, in Saudi Arabia in 2008. Euler Hermes GCC is part of the Euler Hermes Mediterranean Countries, Middle East and Africa (MMEA) region, currently employing 600 people and covering 12 countries.

About Euler Hermes

Euler Hermes established operations in Dubai (U.A.E.) sponsored by Alliance Insurance PSC since 2006 and in Saudi Arabia in cooperation with Allianz Saudi Fransi Cooperation Insurance, a joint venture between Allianz Group and Saudi Fransi Bank, since 2008. Euler Hermes is also present in Bahrain, Kuwait, Oman and Qatar. Euler Hermes GCC is part of the Euler Hermes Mediterranean Countries, Middle East and Africa (MMEA) region, currently employing 600 people and covering 12 countries. www.eulerhermes.ae

Euler Hermes is the global leader in trade credit insurance and a recognized specialist in the areas of bonding, guarantees and collections. With more than 100 years of experience, the company offers business-to-business (B2B) clients financial services to support cash and trade receivables management. Its proprietary intelligence network tracks and analyzes daily changes in corporate solvency among small, medium and multinational companies active in markets representing 92% of global GDP. Headquartered in Paris, the company is present in over 50 countries with 6,000+ employees. Euler Hermes is a subsidiary of Allianz, listed on Euronext Paris (ELE.PA) and rated AA- by Standard & Poor’s and Dagong. The company posted a consolidated turnover of €2.5 billion in 2013 and insured global business transactions for €789 billion in exposure at the end of 2013. Further information: www.eulerhermes.com, LinkedIn or Twitter @eulerhermes.

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