Connect with us

Top Stories

FSS launches Paynalytix-As-a-Service to maximize business performance

Published

on

FSS launches Paynalytix-As-a-Service to maximize business performance

FSS, a Payments and Fintech leader, announced the launch of Paynalytix-As-a-Service at Seamless Middle East, the region’s premier industry event in Dubai.  FSS Paynalytix-As-a Service brings multi-source, multi-format data together in the cloud and helps banks harness the value of their data for improved business outcomes.

With the growth of digital payments, banks have a plethora of data available from an increasing number of digital payment sources including issuance and acquiring systems. FSS Paynalytix-As-a-Service leverages Paynalytix, an advanced big-data platform to help banks efficiently model performance along multiple business and operational dimensions. The solution synthesizes data from the Switch and multiple payment applications including Mobile Banking, Internet Banking, Card Management Systems, ATM Monitoring Systems, Payment Reconciliation Systems, Payment Gateways and POS to generate actionable insights for maximizing revenues as well as driving operational efficiencies.

Intuitive data visualization dashboards provide on-demand access to insights to a range of authorized end users, making it easy for various business units within financial institutions to analyze operational performance, fraudulent transactions, channel profitability and the end-customer experience.

Speaking on the launch, Suresh Rajagopalan, President Software Products, stated, “In an age of payments disruption, analytics is at the core of innovation and differentiation. FSS Paynalytix-As-a-Service helps banks achieve success by bringing a culture of data-driven decisioning at scale. By exploiting vast underutilized repositories of transaction data, we can help banks carve new business models and services and transform their go-to- market approach.”

FSS Paynalytix-As-a-Service offers pre-built applications to help banks accelerate time-to-value. These include:

  • Customer Analytics: Analyses structured and unstructured cross-channel customer data (in-store, ATM, online, mobile, social) to infer and predict customer journeys and transaction patterns. This helps to optimize product performance, launch new product offerings as well as deliver real-time customer incentives and relationship pricing.
  • Merchant Analytics: Acquirers can exploit transaction trend data to improve the quality and profitability of merchant portfolio. For example, acquirers can glean transaction patterns across merchant categories, instrument type and interchanges. This can help in scoring individual merchants based on transaction recency, frequency and monetary value, which in turn can inform strategies related to acquisition, promotions, pricing and retention
  • Risk Analytics: Uses automated machine learning to identify risk patterns and continually hone risk control framework as well as proactively preempt potential threats
  • Operational Analytics: Captures and analyzes real-time information on ATM networks, enabling banks to predict cash utilization and reduce cash outages, improving uptime and the first fix-rate to predict future maintenance needs.

FSS’ Paynalytix-As-a-Service platform is available on an outcome-based ‘pay-per-insight’ cloud delivery model. Banks can use pre-built applications or leverage FSS expertise in Payments and Big Data to develop new applications over the platform.

Top Stories

Car sector seeks more UK government support as output tumbles

Published

on

Car sector seeks more UK government support as output tumbles 1

LONDON (Reuters) – British finance minister Rishi Sunak should use next week’s budget statement to help boost the car industry’s competitiveness, a trade industry body said on Friday, as production tumbled to its lowest January level since 2009.

Sunak is due to detail how he will further support the economy amid COVID-19 restrictions on March 3.

The Society of Motor Manufacturers and Traders (SMMT) said the furlough scheme that protects jobs should be extended, more support for training was needed and manufacturing investment should be encouraged through reform of the business rates tax.

“Next week’s budget is the chancellor’s (finance minister) opportunity to boost the industry by introducing measures that will support competitiveness, jobs and livelihoods,” SMMT Chief Executive Mike Hawes said.

“We need to secure our medium to long-term future by creating the conditions that will attract battery gigafactory investment and transform the supply chain.”

Output in January fell by 27% year-on-year to 86,052 vehicles, hit by factors including dealership closures during a latest COVID-19 lockdown, international supply chain problems and the change in trading terms with the European Union.

(Reporting by Costas Pitas; Editing by William Schomberg)

Continue Reading

Top Stories

Exclusive: Portugal sees green hydrogen output by end-2022, $12 billion in investment lined up

Published

on

Exclusive: Portugal sees green hydrogen output by end-2022, $12 billion in investment lined up 2

By Sergio Goncalves

LISBON (Reuters) – Portugal will start producing green hydrogen by the end of 2022 and already has private investment worth around 10 billion euros ($12 billion) lined up for eight projects that are expected to move forward, Environment Minister Joao Matos Fernandes said.

He told Reuters in a telephone interview there were also several “pre-contracts for the purchase and assembly of electrolysers” to produce the zero-carbon fuel made by electrolysis out of water using renewable wind and solar energy.

Such hydrogen is more expensive to extract than the heavily polluting conventional method of using heat and chemical reactions to release hydrogen from coal or natural gas, known as brown and grey hydrogen respectively.

Hydrogen is now mostly used in the oil refining industry and to produce ammonia fertilisers, but sectors such as steelmaking, transportation and chemicals are beginning to develop large-scale hydrogen applications to gradually replace fossil fuels as countries try to reduce pollution.

The European Commission has mapped out a plan to scale up green hydrogen projects across polluting sectors to meet a net zero emissions goal by 2050 and become a leader in a market analysts expect to be worth $1.2 trillion by that date.

“By the end of 2022, there will certainly be green hydrogen production in Portugal,” Matos Fernandes said. “Green hydrogen will, over time, allow Portugal to completely change its paradigm and become an energy exporting country.”

He said seven groups had submitted applications under Europe’s IPCEI scheme for common-interest projects to make part of a planned export-oriented “hydrogen cluster” near the port of Sines, from where hydrogen could be shipped to Rotterdam. Total investment there is estimated at some 7 billion euros.

A consortium including Portugal’s main utility EDP, oil company Galp, world’s largest wind turbine maker Vestas, among others, is behind one of the projects.

In Estarreja in north Portugal, local firm Bondalti Chemicals aims to invest 2.4 billion euros in a hydrogen plant.

Altogether, these envisage an installed capacity of over 1,000 megawatts (MW).

Matos Fernandes said Portugal was also negotiating with Spain the construction of a pipeline for renewable gases, including hydrogen, from Sines to France, crossing Spain.

LITHIUM PLANS

Spain and Portugal also want to develop an ambitious cross-border lithium project taking advantage of the geographical proximity of their lithium deposits and aiming to cover the entire value chain from mining to refining, cell and battery manufacturing to battery recycling, he said.

Portugal is already a large producer of low-grade lithium mainly for the ceramics industry, but is preparing to make higher-grade metal used in electric car batteries.

A much-awaited licensing tender for lithium-bearing areas that has been delayed by the COVID-19 pandemic should take place by the year-end, Matos Fernandes said.

He promised the tender would address environmental concerns by local communities and there would be no lithium mining “at any cost”.

The minister also said Portugal would use its six-month presidency of the Council of the European Union to finalise a landmark law that would make the bloc’s climate targets irreversible and speed up emissions cuts this decade, expecting it to be approved in the first half of 2021.

(Reporting by Sergio Goncalves; Editing by Andrei Khalip and David Evans)

 

Continue Reading

Top Stories

Under fire in EU, AstraZeneca CEO says ‘hopefully’ will meet vaccine supply goals

Published

on

Under fire in EU, AstraZeneca CEO says 'hopefully' will meet vaccine supply goals 3

BRUSSELS (Reuters) – AstraZeneca boss Pascal Soriot said on Thursday he hoped to meet the European Union’s expectations on the number of COVID-19 vaccines the company can deliver to the bloc in the second quarter, after big cuts in the first three months of the year.

The Anglo-Swedish drugmaker has been under fire in the EU for its delayed supplies of shots to the 27-nation bloc, which ordered 300 million doses by the end of June.

“We are working 24/7 to improve delivery and hopefully catch up to the expectations for Q2,” Soriot told EU lawmakers in a public hearing.

Under its contract with the EU, the company has committed to delivering 180 million doses in the second quarter.

Soriot did not mention the 180 million target, but said he was confident the company will be able to increase production in the second quarter using factories outside the EU that had no production problems, including in the United States.

He confirmed the company was trying to get 40 million doses of the COVID-19 vaccine to the EU by the end of March, which is less than half the amount it promised for the quarter in its contract.

The EU, which has fallen far behind the United States and former member Britain in vaccinating its public, has repeatedly urged the firm to deliver more.

Lower-than-expected yields – the amount of vaccine that can be produced from base ingredients – at its factories hurt output in the first three months.

Asked about supplies to Britain, which relies on the same factories used by the EU, Soriot said the former EU member with a population of around 66 million was smaller, and noted that most doses produced in the EU were used to serve the EU which has a population of about 450 million.

Executives from rival drugmakers that have developed or are testing COVID-19 vaccines, including Moderna Inc and CureVac NV were also part of the panel.

But most questions were directed at Soriot amid anger that the company has failed to deliver promised vaccine quantities to the bloc on schedule.

Moderna Chief Executive Officer Stephane Bancel said the company has experienced fluctuations as the U.S. biotech group ramps up output of its COVID-19 vaccine.

He said usually a company would stockpile product ahead of a launch, but it is shipping every dose it makes, leaving it without any spare inventory.

His comments came a day after the company increased its output target for this year and 2022 as it invests in additional manufacturing capacity.

(Reporting by Josephine Mason in London and Francesco Guarascio in Brussels; Editing by Susan Fenton, Bill Berkrot and Keith Weir)

 

Continue Reading
Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.

Call For Entries

Global Banking and Finance Review Awards Nominations 2021
2021 Awards now open. Click Here to Nominate

Latest Articles

Isoprene Rubber Latex Market: Complete Analytical Report for 2021 with leading key players Hartalega Holdings Berhad, Kossan Rubber Industries Bhd, Top Glove Corporation Bhd, Rubberex Corporation (M) Bhd. 4 Isoprene Rubber Latex Market: Complete Analytical Report for 2021 with leading key players Hartalega Holdings Berhad, Kossan Rubber Industries Bhd, Top Glove Corporation Bhd, Rubberex Corporation (M) Bhd. 5
Research Reports6 mins ago

Isoprene Rubber Latex Market: Complete Analytical Report for 2021 with leading key players Hartalega Holdings Berhad, Kossan Rubber Industries Bhd, Top Glove Corporation Bhd, Rubberex Corporation (M) Bhd.

Isoprene Rubber Latex Market: Report Description This FMI study offers a ten-year analysis and forecast for the global Isoprene Rubber...

Oxo Chemicals Market Worth Observing Growth: The Dow Chemical Company, BASF SE, BAX Chemicals BV, ExxonMobil Chemical Company 6 Oxo Chemicals Market Worth Observing Growth: The Dow Chemical Company, BASF SE, BAX Chemicals BV, ExxonMobil Chemical Company 7
Research Reports6 mins ago

Oxo Chemicals Market Worth Observing Growth: The Dow Chemical Company, BASF SE, BAX Chemicals BV, ExxonMobil Chemical Company

Future Market Insights has adopted multi-disciplinary approach to shed light on the advancement of the Oxo Chemicals Market during the...

Automotive Foams Market Expected to be Valued High During the Forecast Period 2021 to 2026 8 Automotive Foams Market Expected to be Valued High During the Forecast Period 2021 to 2026 9
Research Reports7 mins ago

Automotive Foams Market Expected to be Valued High During the Forecast Period 2021 to 2026

Future Market Insights has adopted multi-disciplinary approach to shed light on the evolution of the Automotive Foams Market during the historical period....

COVID-19 Impact on 3D Printing Materials Market Growth, Overview, Competitive Landscape and Forecast 2021 to 2026 | Stratasys Ltd., Arevo Labs, Evonik Industries AG, Farsoon, Inc. 10 COVID-19 Impact on 3D Printing Materials Market Growth, Overview, Competitive Landscape and Forecast 2021 to 2026 | Stratasys Ltd., Arevo Labs, Evonik Industries AG, Farsoon, Inc. 11
Research Reports8 mins ago

COVID-19 Impact on 3D Printing Materials Market Growth, Overview, Competitive Landscape and Forecast 2021 to 2026 | Stratasys Ltd., Arevo Labs, Evonik Industries AG, Farsoon, Inc.

Future Market Insights has adopted multi-disciplinary approach to shed light on the advancement of the 3D Printing Materials Market during...

Automotive Fasteners Market Size, Share, Trends, Industry Analysis : Research During The Ongoing COVID-19 And Research Methodology By Forecast To 2026 12 Automotive Fasteners Market Size, Share, Trends, Industry Analysis : Research During The Ongoing COVID-19 And Research Methodology By Forecast To 2026 13
Research Reports8 mins ago

Automotive Fasteners Market Size, Share, Trends, Industry Analysis : Research During The Ongoing COVID-19 And Research Methodology By Forecast To 2026

Future Market Insights has adopted multi-disciplinary approach to shed light on the evolution of the Automotive Fasteners Market during the historical period....

Newsletters with Secrets & Analysis. Subscribe Now