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Swisscom and CA Technologies partner to launch innovative Open Banking Hub

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Swisscom and CA Technologies partner to launch innovative Open Banking Hub

Switzerland’s Leading Telecommunications Company uses CA API Management Solutions to Accelerate Fintech Initiative and Help Satisfy Regulatory Requirements

 CA Technologies (NASDAQ:CA) today announced that it is partnering with Swisscom in a strategic alliance to create an innovative Open Banking Hub. Switzerland’s leading telecommunications company and one of the country’s leading IT companies is standardising on the CA Technologies API Management portfolio to create a simple, secure interface that connects financial institutions with third-parties, including fintech start-up companies.

The Swisscom Open Banking Hub enables unprecedented opportunities for collaboration between banks and third-parties, inspiring the rapid, secure development of innovative new services and customer experiences that drive business growth.

“Traditional banks and new, nimble Fintechs are no longer working against each other, but rather in tandem to create exciting and compelling new financial solutions,” says André Durrer, Head of Digital Business Platforms at Swisscom. “The Swisscom Open Banking Hub provides banks, Fintechs and other third-party providers with a secure and agile platform upon which they can grow business. CA Technologies is the lynchpin of this modern and dynamic Hub, enabling secure API-based connection between providers and users of services. Their proven, flexible solution opens the door to digital data communication in existing and future financial ecosystems.”

Open Banking Hub Drives Innovation

Open banking has arisen from new legislation that gives financial providers secure access to customer information via APIs (application programming interfaces), which import the data they hold into third-party applications and services. It represents a significant shift in the way both consumers and businesses bank, enabling the development of a wider range of personalised services and increased competition in the market.

With the Swisscom Open Banking Hub, financial institutions and third-parties do not need to worry about infrastructure issues and challenges such as security, performance, availability and transparency. Everything in the Hub is available as a service, ensuring that Hub users maintain the focus on developing future services, helping them remain competitive and compliant.

The Hub operates on two levels: an “API Playground as a Service” provides financial services providers with a simple, no-obligation opportunity to test new third-party applications that are already connected to the Open Banking Hub. Secondly, it enables the productive use of the third-party solutions within Swisscom’s secure IT infrastructure—upon which it already operates the core banking systems of approximately 80 financial services providers. This is a major leap forward for third parties, especially Fintechs, since it helps satisfy the compliance and security requirements of legislation such as the Personal Services Directive 2 (PSD2).

The concept of the Hub is not limited to the financial services sector. The comprehensive nature of the solution framework, its ease of use, cost-effectiveness, and scalability can equally be applied to other industry sectors. With this in mind, Swisscom and CA Technologies plan to extend the initiative to start-ups in other sectors, such as MedTechs, InsureTechs, GovTechs, and RenTechs.

 CA API Gateway Delivers Security Without Sacrificing User Experience

The CA API Gateway enables Swisscom to selectively open data and applications through the Hub to third-party developers—driving innovation, customer satisfaction and increased efficiency. Security is managed centrally, traffic can be prioritized to help ensure APIs remain available and responsive, and a variety of deployment models ensure support for a wide range of platforms, including Docker, AWS and Azure. This full lifecycle API management is also a critical requirement for open banking. According to Gartner, “open banking brings a number of key requirements for full life cycle API management vendors.” Their 2018 Critical Capabilities for Full Life Cycle API Management* also ranks CA Technologies the highest out of 22 API management vendors for the open banking use case for its CA API Management portfolio.

“The development of the Open Banking Hub represents a high-water mark in an eight-year relationship of digital transformation between Swisscom and CA Technologies,” says Rahim Bhatia, SVP and general manager, Developer Products at CA Technologies.  “We’re pleased to build on our joint success, and enable Swisscom by providing the secure, scalable and performant API platform that will support and accelerate the growth of this innovative financial ecosystem as the Hub expands.”

“We are immensely proud of this exciting partnership with Swisscom,” says Rui Martins, Country Manager Switzerland, CA Technologies. “It unites two powerful forces in technology and telecommunications:  CA Technologies’ world-class API Management technology, coupled with Swisscom’s unrivalled experience and expertise, will prove to be a formidable and unbeatable force in Open Banking. As partners, we share the belief that innovation is key to success and it’s this shared vision that will propel the Open Banking Hub to its next phase of growth.”

Other key projects CA Technologies has been involved with include supporting Swisscom with service reporting; accelerating the development and launch of Swisscom’s TV solution portfolio; standardizing secure application interfaces internally; servicing the bank’s internal mainframe reporting; optimising the testing of the bank’s API factory; and additional reporting on the bank’s network of large enterprise customers.

To learn more about Financial Services solutions from CA Technologies, visit: https://www.ca.com/us/why-ca/industries/finance.html. For more on CA Technologies API Management solutions, please visit www.ca.com/api.

*Gartner, Inc., Critical Capabilities for Full Life Cycle API Management, Mark O’Neill, Paolo Malinverno, 01 May 2018

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Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

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Tänak wins easily in the Arctic as Rovanperä grabs early title lead

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Tänak wins easily in the Arctic as Rovanperä grabs early title lead 1

Finn becomes youngest ever WRC leader with Belgian Neuville back in third.

Ott Tänak sealed a dominant start-to-finish victory at Arctic Rally Finland Powered by CapitalBox on Sunday afternoon.

The Estonian was never seriously challenged during the three-day encounter in Lapland’s frozen forests. He built a comfortable lead during the first two legs and eased through the finale to win the FIA World Rally Championship’s second round by 17.5sec.

Home hero Kalle Rovanperä fended off a charging Thierry Neuville to claim the best result of his career in second. At just 20 years old, he became the youngest driver to lead the WRC in the championship’s 49-year history. Neuville finished 2.3sec adrift in third.

Tänak won five of the 10 snow and ice speed tests in his Hyundai i20. Apart from a brush with a snowbank on Saturday, he avoided trouble on superfast roads near Rovaniemi to kick-start his title bid after retiring from the season-opener in Monte-Carlo.

“The pressure was there and we knew it was going to be very complicated to take the fight,” he said. “In the end we did a very good weekend, with only one mistake. It’s an amazing place, definitely one of the best places to have a winter rally.”

Rovanperä, starting just his ninth top-level rally, began the final day with a 1.8sec buffer to Neuville. He extended it by a tenth in the first of two passes through the 22.47km Aittajärvi test, before winning the final Wolf Power Stage to retain his grip on second.

The Toyota Yaris driver moved four points clear of Neuville at the top of the standings, relegating world champion Sébastien Ogier who had a disappointing weekend. The Frenchman finished 20th after burying his Yaris into a snow drift.

Neuville’s third place provided a double podium for Hyundai Motorsport, which reduced Toyota Gazoo Racing’s manufacturers’ championship lead to 11 points.

Craig Breen finished fourth in another i20 after a four-rally absence. Tyre management was crucial and the Irishman fell back on Saturday as he struggled for grip on deteriorating roads after ending the opening day in second. He was 52.6sec adrift of Tänak.

Breen kept Elfyn Evans at bay in the final test after the Welshman closed to within 3.6sec in the penultimate stage. The final gap between them was 8.9sec. Japan’s Takamoto Katsuta rounded off the top six in another Yaris.

Tributes were made on the podium to Finnish rally great Hannu Mikkola. The 1983 world champion and three-time runner-up died on Friday and the Finnish Air Force led the accolades with an F18 Hornet flypast.

The WRC moves to the asphalt Croatia Rally for round three, which is based in Zagreb on April 22-25.

Final positions

1. O Tänak / M Järveoja EST Hyundai i20 2hr 03min 49.6sec

2. K Rovanperä / J Halttunen FIN Toyota Yaris +17.5sec

3. T Neuville / M Wydaeghe BEL Hyundai i20 +19.8sec

4. C Breen / P Nagle IRL Hyundai i20 +52.6sec

5. E Evans / S Martin GBR Toyota Yaris +1min 01.5sec

6. T Katsuta / D Barritt JAP Toyota Yaris +1min 37.8sec

FIA World Rally Championship (after round 2 of 12)

1. K Rovanperä 39pts

2. T Neuville 35

3. S Ogier 31

4. E Evans 31

5. O Tänak 27

 

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Euro zone factories buzzing in February as demand soars

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Euro zone factories buzzing in February as demand soars 2

By Jonathan Cable

LONDON (Reuters) – Euro zone factory activity raced along in February thanks to soaring demand, a survey showed on Monday, although the burst of business led to a shortage of raw materials and a spike in input costs.

Restrictions imposed across the continent to try to quell the spread of the coronavirus have shuttered vast swathes of the bloc’s dominant services industry, meaning it has fallen to manufacturers to support the economy.

IHS Markit’s final Manufacturing Purchasing Managers’ Index (PMI) jumped to a three-year high of 57.9 in February from January’s 54.8, ahead of the initial 57.7 “flash” estimate and one of the highest readings in the survey’s 20-year history.

An index measuring output, which feeds into a composite PMI due on Wednesday that is seen as a good guide to economic health, climbed to 57.6 from 54.6, well above the 50 mark separating growth from contraction.

“Manufacturing is appearing as an increasingly bright spot in the euro zone’s economy so far this year,” said Chris Williamson, chief business economist at IHS Markit.

“The solid manufacturing expansion is clearly helping to offset ongoing virus-related weakness in many consumer-facing sectors, alleviating the impact of recent lockdown measures in many countries and helping to limit the overall pace of economic contraction.”

A Reuters poll last month showed the bloc was in a double dip recession and that the economy would contract 0.8% this quarter after shrinking 6.9% in 2020 on an annual basis. [ECILT/EU]

Rocketing demand for manufactured goods pushed factories to increase staffing levels for the first time in nearly two years.

But lockdown measures disrupted supply chains and factories struggled to obtain raw materials, leading to a big increase in delivery times.

“The growth spurt has brought its own problems, however, with demand for inputs not yet being met by supply. Shipping delays and shortages of materials are being widely reported, and led to near-record supply chain delays,” Williamson said.

Those shortages allowed suppliers to hike their prices at the fastest rate in almost a decade. The input prices PMI bounced to 73.9 from 68.3.

(Reporting by Jonathan Cable; Editing by Hugh Lawson)

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Strong exports lift German factory activity to three-year high in February – PMI

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Strong exports lift German factory activity to three-year high in February - PMI 3

BERLIN (Reuters) – Higher demand from China, the United States and Europe drove growth in German factory activity to its highest level in more than three years in February, brightening the outlook for Europe’s largest economy, a survey showed on Monday.

IHS Markit’s Final Purchasing Managers’ Index (PMI) for manufacturing, which accounts for about a fifth of the economy, jumped to 60.7 from 57.1 in January.

It was the highest reading since January 2018 and came in slightly better than the initial “flash” figure of 60.6.

Factories have been humming along during the pandemic on higher foreign demand, helping the German economy avoid a contraction in the last quarter of 2020 and offsetting a drop in consumer spending amid a partial lockdown to contain COVID-19.

Many manufacturers reported higher demand from Asia, especially China, as well as the United States and European countries, with export sales posting their biggest increase since December 2017, the survey showed.

Phil Smith, Principal Economist at IHS Markit, said supply chain pressures intensified as more firms reported delays than ever before in nearly 25 years of data collection.

“There looks to be further upward pressure on inflation in the German economy from supply bottlenecks and a subsequent surge in manufacturing input costs,” Smith noted.

The survey suggested that supply disruption is making it more difficult to replenish stocks, which could complicate production in the coming months, he cautioned.

“Nevertheless, the overriding sentiment for the longer-term outlook is optimism, with a record number of manufacturers expecting to see output rise over the next 12 months.”

Still, economists expect the economy to shrink in the first quarter of this year due to a stricter lockdown, which has shut most shops and services since mid-December, and freezing temperatures that slowed construction activity in February.

(Reporting by Michael Nienaber; Editing by Hugh Lawson)

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