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KODAK ALARIS UNVEILS NEXT WAVE OF IN2 ECOSYSTEM TO TAKE COMPLEXITY OUT OF INFORMATION CAPTURE

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  KODAK ALARIS UNVEILS NEXT WAVE OF IN2 ECOSYSTEM TO TAKE COMPLEXITY OUT OF INFORMATION CAPTURE

Kodak Alaris is expanding its information capture ecosystem, delivering on the promise of digital transformation for businesses and governments around the world. The global solution provider is hosting customer and partner events in all regions this week to unveil the Alaris S2000 Series – a new family of network/wireless and USB-connected desktop scanners – and showcase its award-winning software and services, all of which are designed to take the complexity out of information capture to simplify and improve the way people work.

 Digital transformation starts with information capture
In a recently published white paper, IDC reports that digitising, automating, and optimising document workflows offer compelling benefits to organisations, including, on average, a 35% reduction in costs, 42% reduction in paper documents, and 52% reduction in errors[i]. “Manual processes present an unnecessary hurdle to creating transparency and efficiency for organisations,” said Siddhartha Bhattacharya, Vice President, Global Marketing, Alaris Information Management. “Any paper-based process such as a loan request or driver’s licence application must be digitised to facilitate sharing and reduce risk. Digital capture of paper documents is an essential first step toward achieving this.”

The new Alaris S2000 Series increases productivity by automating much of the work traditionally done by people and host computers. Embedded Image Processing within the scanner delivers crisp, clear images without requiring a high-powered (or expensive) host PC. Breakthrough Active Feed Technology aligns the leading edge of paper to avoid multi-feeds and misfeeds, and Controlled Output Stacking places paper neatly in the output tray. Users benefit from spending less time preparing documents for scanning and dealing with messy output stacks.

The S2000 Series includes two USB-connected models (Alaris S2050 and S2070)  and two network/wireless models (Alaris S2060w and S2080w)) which deliver rated speeds between 50 and 80 pages per minute (ppm). Each scanner is compact, powerful, and easy to use with a robust feeding system that efficiently handles a wide range of media. Three optional flatbed accessories can be integrated with the scanners for increased versatility and productivity. For example, the S2000 Series is designed to ‘dock’ on top of the new Alaris Passport Flatbed Accessory, offering a quick and easy solution for scanning passports, ID cards and other small, fragile documents.

Providing channel partners a flexible platform for growth

Today’s complex data environment requires an integrated approach to information capture that includes industry leading scanners, software, services, and a global network of trusted partners.

Partner and developer communities play a vital role in the IN2 Ecosystem through their ability to connect, configure and create new solutions that meet customer needs. The newly launched Alaris Partner Program is designed to enable channel partners to grow their businesses by offering best-in-class technology and sophisticated solutions and services. It includes a new partner portal, sales tools, incentives and technical resources designed to help partners win in the marketplace.

“Alaris IN2 is a packaged answer to the demands of information and content,” said Anne Valaitis, Senior Consultant, InfoTrends. “Working with their heritage and history of image science, and further placing a greater emphasis on an ecosystem that includes strong partnerships, Kodak Alaris’ goal with the IN2 solution is to focus in key areas that can benefit most from a combination of capture hardware, software and services delivered by strategic partners.”

Software and services complete the ecosystem
A new generation of software from Kodak Alaris offers flexible and powerful batch capture for a wide range of industries and vertical markets, and is particularly effective for BPOs and centralised mailrooms. Alaris Capture Pro Software v5.5 is a dedicated workstation-based information capture solution that ensures security and reliability without depending on internet connectivity for scanning and processing. It seamlessly delivers information to databases and applications, including Enterprise Content Management (ECM) systems and Microsoft SharePoint Online (Office 365). For example, one scanning service bureau is using Capture Pro’s advanced indexing capabilities to increase productivity and reduce data entry times by 50%. Capture Pro Software is also ideal for high-performance distributed scanning environments and has been optimised to work seamlessly with the new S2000 Series Scanners.

Alaris Info Input Solution and Info Input Express are web-based and mobile capture applications that are easy to implement and use for workers who regularly scan across departments and enterprises. Info Input Solution and Express enable effortless information capture from scanners, smart devices (via mobile app), and digital files (including email) from one application. Info Input Express Limited Edition is bundled with every S2000 Series Scanner.

Managed Content Services deliver visibility and control

In addition to expert Repair and Maintenance Services to optimise uptime and productivity and Professional Services to deliver in-depth advice, subject matter expertise and value, the IN2 ecosystem now offers Managed Content Services (MCS) in select regions. By developing an MCS partnership with Alaris, customers gain a team of industry experts that help maximise the efficiency and power of their total capture environment. MCS helps organisations by providing a better understanding of total imaging costs, improving service level agreements (SLAs), and driving sustainable savings. For example, the UK operations of an international bank used Alaris Managed Content Services  to re-engineer its document management processes. As a result, they replaced outdated equipment, reduced the number of scanning workflow processes by 90%, and dramatically reduced TCO, all while increasing productivity significantly.

For more information about the Alaris IN2 Ecosystem, please visit the Kodak Alaris website.

To request a demo of the Alaris S2000 Series Scanner, please click here.

[i] IDC White Paper, sponsored by Kodak Alaris, Information Capture: Cornerstone of Digital Transformation, July 31, 2017.

Technology

How can modern and emerging technology revolutionise Wealth management and Banking going forward?

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How can modern and emerging technology revolutionise Wealth management and Banking going forward? 1

By Azamat Sultanov & Firdavs Shakhidi, Co-CEOs of Fortu Wealth

Over the last few years, we have seen much innovation in the financial sector. Challenger banks such as Monzo and Starling have seen rapid growth, with customers being attracted to their open and intuitive systems.

However, we’re yet to see corresponding innovation in the private banking and wealth management sectors. Many firms and asset managers rely on legacy tech that is incapable of providing the modern customer with the sleek, streamlined and hassle-free offering that they seek from their financial services.

Digitisation is key to meeting the needs of the modern consumer, and below you’ll find areas that will benefit most from such a change..

Payments, Transfers & Exchange

Historically, the process of transferring money was slow, complicated and expensive. However, thanks to the likes of TransferWise and other such FinTech unicorns, this is no longer the case..

In-app software now allows for the real time checking of exchange prices, ensuring customers can get the most accurate and cost-efficient rates in the palm of their hand.

Gone are the days of endless form signing as well with Touch ID, DocuSign and voice-authentication greatly increasing the speed in which customers can safely and securely transfer money between accounts, Payees and countries or make payments.

Part of this success comes from the collaborative approach now used by most banks. This has enabled firms to partner with smaller, more agile fintechs, implementing a number of white-label services, and advancing their own offering to appeal to the new modern consumer.

This collaborative-formula will be the key to success and innovation within the financial sector for years to come.

Trading and Investment

Azamat Sultanov

Azamat Sultanov

Digital brokerships, such as eToro, Trading212 and RobinHood have led to a swathe of new retail investors entering the marketplace, and with that banks and firms should be looking to engage with this exciting new customer base.

If GameStop taught us anything, it’s that modern investors want the capability and the security to quickly access the trading floor and invest without the labour-intensive ways of years gone by with brokers, trade forms and endless bureaucracy.

This instant-access to the trade floor does pose risks to retail investors’ capital however and so it’s pivotal that financial service providers make a proactive effort to educate their customers on investing. This also offers a great opportunity for banks to open up positive channels of communication with their clients.

Banks shouldn’t be afraid to become more conversational and friendly with their customers to help solidify engagement. Perhaps by providing a monthly newsletter, banks and firms can cover off a number of key actions, helping to educate the consumer on interesting stocks and share options. By doing this, they can help their retail investors avoid costly investing mistakes.

Through these actions established banks and finance professionals are fulfilling their educational role and utilizing their investing experience to ensure the DIY-Investor is safe and well-informed.

Compliance

The debate over modernising financial service companies compliance models is polarising. On the one hand, established banks and firms will say that what is not broken does not need fixing, however given that the FCA imposed nearly £200m worth of fines to firms in 2020 alone, it would appear that there is definite room for improvement.

Innovative technology offers the ability for financial service companies to automate the process of collating and protecting customer data, and also bypass the risk of human error which can often be a costly and easily-avoided outcome when it comes to compliance.

Automated data processes also offer a multitude of benefits by optimising a bank’s operational efficiency, ensuring regulatory requirements are met, and creating a satisfying customer experience.

In previous decades the financial services industry has been slow to adapt and often it’s been for understandable reasons, the stakes are high and mistakes can result in customers lost and sizable fines.

That said, the benefits of greater digitisation pose too great an opportunity for banks, firms and wealth management companies to upgrade to a more efficient work process and retain & grow more customers.

By utilising the latest technology available to the sector and becoming more open-minded to collaboration with third-party vendors, firms can provide benefit to their customers.

Whether that is streamlining compliance, saving costs and time on payments & transfers or expanding to allow consumers the ability to invest and trade directly from within an ‘all-in-one’ app. The customer now wants efficiency without the sacrifice of security and that is exactly what we should be looking to provide.

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Dealing with Disruption: Turning to the cloud for tech-enabled compliance, agility, and resiliency

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Dealing with Disruption: Turning to the cloud for tech-enabled compliance, agility, and resiliency 2

By Jeff Axelrad, Worldwide Financial Services Compliance Lead at Amazon Web Services

COVID-19 has disrupted the normal course of business for financial consumers and institutions, each of whom bears a unique set of concerns and requirements they need to address. Financial consumers are focused on access to capital, where time is critical in determining the viability of businesses and continuing their ability to meet financial commitments. Financial institutions, including consumer and challenger banks, are focused on safety, security, resiliency, scalability, and the continued health of their operations. Financial regulators are focused on economic recovery, making capital accessible to those who need it, and ensuring the stability of national and global financial systems.

These heightened concerns and requirements translate into increased burdens on the financial system from a technology perspective. The pandemic is challenging legacy applications and infrastructure in their ability to support both the immediate shift to primarily digital engagement with consumers and the extraordinary volumes and volatility that are challenging global markets.

While using the cloud to innovate is one thing, is it feasible in a highly regulated industry such as financial services, and in the midst of a pandemic? The short and definitive answer is yes.

Confidence in the cloud

Financial institutions are working to enable secure and agile operations during a time of extensive operational challenges such as bank branch closures, spikes in call-center volume, extreme trading volatility, and shifts to large-scale remote-work environments.

AWS is working with financial institutions and government and regulatory agencies around the world to help tackle the challenges to the global economy that COVID-19 presents. From enabling remote work, maintaining the operational resilience of mission-critical applications, scaling global market systems to process exceptional volumes, we’re supporting our customers such as to keep the people and systems that run the global economy working.

For example, Barclays a 329-year-old bank, answering to five regulators worldwide, must constantly evolve to keep its customers satisfied while also keeping the bar high for the services it provides consumers. When COVID-19 began, Barclays rapidly and securely modernized its contact centers by moving its 25,000 agents to a work-at-home model in just six weeks using the cloud. Barclays is also looking to the cloud to help simplify its multi-channel customer engagement to serve 80% of inbound voice interactions by 2022 while also saving nearly 50% over time.

Tech-enabled Compliance
At AWS, we take security and privacy extremely seriously, and our customers always own their data, and maintain the ability to encrypt it, move it and delete it. We constantly monitor a fluid regulatory environment, working with regulators globally to monitor for upcoming rules and changes to guidelines that have the potential to impact our customers.

We also enable customers to meet their specific vertical security and compliance needs, and constantly look into other certifications that will define the future. AWS regularly achieves third-party validation for thousands of global compliance requirements that we continually monitor to our customers meet security and compliance standards.

Solarisbank AG, Europe’s leading Banking-as-a-Service platform, was the first bank in Germany to fully migrate to the cloud and included all of its core banking systems, digital products, and databases. The migration from the on-premise datacenter to the cloud took one year and was completed in November 2020. The move to the cloud enabled the company to lift technological and regulatory barriers for its business partners by offering financial services to third parties through its German banking licence and application programming interface (API) services. This in turn enabled them to remain compliant while enabling their partners to offer financial services products to consumers quickly and seamlessly. The cloud migration was a key part of Solarisbank’s strategy of building a product and tech platform that ensures the best possible conditions for scale and automation, in order to accommodate the growing customer bases of its partners.

Additionally, newer technologies such as continuous monitoring help institutions to appropriately manage the operational risks within their cloud environment and ensure they have sufficient processes and security measures in place to support encryption, authentication and reporting.

We expect to see more automation in security with infrastructure and application checks that can help enforce security and compliance controls continuously while reducing human configuration errors. These processes allow financial institutions to maintain the confidentiality and integrity that their customers demand, while maintaining timely and accurate reporting required by industry regulators.

Architecting for resilience
We encourage all financial institutions to create a toolkit that monitors their cloud environment from end to end, enabling them to identify and analyse risk events such as unencrypted data or an unsecured third-party service. With global regulations related to data privacy on the horizon, financial institutions must carefully consider how to manage data and security to ensure they are well positioned to remain compliant, while minimising risk and keeping an eye toward innovation.

The application programming interface-driven infrastructure of the cloud enables organisations to automate the development and operation of their application infrastructure. At AWS, we also take active measures to minimise the impact of potential events and maintain our security and resiliency through a variety of ways. For example, we build our cloud infrastructure in diverse geographic regions with multiple availability zones per region. This diffuses the potential for systemic risk in any industry or location.

The Road Ahead

While we work with our customers including Global Payments, HSBC, JP Morgan Chase, Itaú Unibanco, and Standard Chartered to focus on the tasks at hand, we also recognize that the lessons we learn from this extraordinary moment in history will shape the future of our industry. What lies ahead is an agile, powerful, and secure opportunity to use technology to invent and reinvent the way organisations are able to act, preempt disruption, and think about the future of the financial services industry.

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AI-powered visibility key to mitigating IT systems risk in financial services

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AI-powered visibility key to mitigating IT systems risk in financial services 3

By Penelope Feros, Vice President, APAC, Cherwell Software

The world of finance changes by the minute. Financial businesses — from banks to insurance agencies and brokerages — are facing a myriad of macro challenges that come along with modernisation.

The rise of fintech and challenger banks make the landscape more competitive than ever, putting pressure on the ingenuity of offers, fees, and net interest margins (NIMs). Today’s mostly online banking means an increased need for cybersecurity and protection against data breaches and costly outages.

Automation is no longer a futuristic option for the workplace, but now, a reality that also impacts the customer experience. Disruptive technologies like AI to address the exponential rise in data and complexity in finserv organisations is primed to grow in significance across IT teams in the region.

According to IDC, financial services spending on AI in Asia Pacific will reach US$4.29 billion in 2024, with Australia making significant traction and advancements in AI spending, alongside key financial hub markets Singapore and Hong Kong.

Rising system vulnerabilities within complex IT environments

Digital transformation has resulted in IT infrastructure complexity growing at an astronomical rate. The resultant increases in infrastructure data and alarms at the service desk far exceed the capacity of any human to meaningfully read, analyse and respond to them. The infrastructure itself is also constantly morphing and changing, yet finance service desks are still expected to resolve requests, incidents, and performance issues in seconds – an impossible task, given the volume of data.

Penelope Feros

Penelope Feros

Financial brands are expected to maintain a pristine reputation while making sure all business-critical applications perform optimally, in order to stay competitive and deliver a better service experience.

Every application is supported by a complex fabric of servers, network devices and services – both physical and virtual – local and in the cloud. The impact of an outage or vulnerability for any one of those components can be extreme. IT teams need to monitor not just every device, but also the dependencies between them. Understanding all of the pieces that make an application available is about more than knowing the up or down status.

With security vulnerabilities putting customer data at risk, having awareness of the priority systems that need to be secured is also vital. As the architectures behind applications become even more complicated with the cloud, virtualisation and shared services, manual documentation of dependencies is no longer a feasible option.

AIOps implementation begins with discovery and analysis

The good news is that the solutions available to automatically discover the organisation’s systems and map dependencies are much more sophisticated today.

Discovery and dependency mapping (DDM) tools enable organisations to see how physical, virtual, and logical compute, network, and storage entities are connected. They can handle the complexity of distributed hybrid environments, giving finserv IT teams the opportunity to visualise and manage the components of their online retail, supply chain, ERP and other critical applications.

The discovery phase involves uncovering all of the compute, network and storage entities across the IT environment and ensuring the organisation’s configuration management database (CMDB) is always kept up to date.

DDM tools depict the interdependencies in a graphical format, so IT teams can readily see the connections between assets, and which services they support – critical to troubleshooting incidents or preventing impact of change.

Once the CMDB is kept up to date with automated discovery and dependency mapping, finserv organisations need to make sense of the data in order to make informed decisions. By applying machine learning algorithms to analyse this data, AIOps can identify patterns, spot anomalies and predict (and prevent) future outages. The resulting insights can trigger intelligent automations to effectively prevent outages, improve performance, and ease the burden of managing increasingly complex infrastructure. By automatically triggering actions based on insights, AIOps can quickly fix issues or prevent them from happening, whether it’s a network link that’s gone down, an over-utilised disk or a service that simply requires a restart.

With automatic discovery and dependency mapping, AIOps allow financial services organisations to, gain visibility over IT environments, rapidly evaluate changing needs, and the means to quickly meet them. Adoption of the right solutions leveraging AI can help IT operations in financial services organisations make sense of the growing volumes of data and get on top of increasing risks of outages.

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