Home > News > Trending news > Fiserv to Acquire Digital Experience Platform Ondot Systems

FINTECH

Fiserv to Acquire Digital Experience Platform Ondot Systems

Fiserv, Ondot | December 28, 2020

Fiserv, Inc. a main worldwide supplier of financial services technology solutions, today reported that it has consented to a conclusive arrangement to obtain Ondot Systems, Inc. a main digital experience stage for financial institutions. The transaction will additionally grow Fiserv digital capacities, upgrading its set-up of coordinated solutions to empower clients, everything being equal, to convey frictionless, digital-first and personalized experiences to their buyers.

Established in 2011, Ondot processes more than 1 billion transactions per month and gives digital abilities to more than 30 million cards. Fiserv plans to additionally build up the Ondot stage's extraordinary interchange between continuous approval, client setting, and man-made reasoning ("AI") to draw in clients in-the prior second, during and after transactions.

“The importance of digital has accelerated and consumers are increasingly turning to online and mobile banking, as well as contactless payments experiences,” said Frank Bisignano, President and Chief Executive Officer of Fiserv. “By combining Ondot and Fiserv capabilities at scale, we plan to provide our clients with a unified digital experience, spanning card-based payments, digital banking platforms, core banking, and merchant solutions, enabling them to deliver best-in-class solutions that continue to reduce friction for their customers. We look forward to welcoming the talented Ondot team to the Fiserv family as we continue to help our clients deliver innovative ways for their customers to actively manage their financial lives at the point of thought.”

With the integration of Ondot, Fiserv will assist clients with quickening digital client securing, drive digital business, increment card initiation and utilization, lessen administration costs, and connect logically in minutes that issue all by means of readymade solutions for clients. For instance, cardholders can profit by moment card issuance and utilization, as well as unprecedented visibility into purchases through enriched transaction information and actionable insights to spend smarter. Chargebacks and client assistance calls are habitually the consequence of a cardholder not perceiving a transaction. Information improvement from Ondot puts together and distinguishes transaction and shipper information, permitting clients to all the more effectively perceive their buys and comprehend their spending designs, bringing about higher commitment and less help calls and questions. With these all encompassing customer confronting experiences and customer confronting apparatuses, card guarantors can convey present day digital card services rapidly on top of their current preparing framework.

“The Fiserv aspiration to move money and information in a way that moves the world fully resonates with Ondot’s mission,” said Vaduvur Bharghavan, President and Chief Executive Officer of Ondot Systems. “Joining with Fiserv will provide Ondot the opportunity to innovate and impact the industry on a global scale. We look forward to expanding the scope of our offerings as we integrate with Fiserv’s vast array of capabilities to continue providing high-quality digital solutions to consumers, merchants, acquirers, networks and card issuers.”

About Ondot
Founded in 2011, Ondot provides more than 4,500 banks and credit unions with a digital card services platform to drive cardholder engagement. From community issuers to top global banks, Ondot enables financial institutions to offer in-the-moment convenience, control, and transparency for credit and debit cards, leading to higher usage, lower cost, and reduced fraud. To learn more about Ondot Systems

About Fiserv
Fiserv, Inc. aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale solution. Fiserv is a member of the S&P 500® Index and the FORTUNE® 500 and is among FORTUNE World’s Most Admired Companies®.

Spotlight

The Rise of AI in Financial Services

As pressure mounts due to factors like rising regulatory requirements, competition from new market entrants, heightened expectations from consumers, increasingly sophisticated digital threats, the financial services industry is expanding its use of artificial intelligence (AI) technologies. Everything from business operations, customer service, and marketing, to risk management and compliance is starting to benefit from the applications of AI. Although AI was originally introduced in the 1950s, it has achieved new prominence recently as computational power has increased and the amount of and access to data has exploded.


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ixFintech | December 22, 2021

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In addition to serving users who want anonymity while satisfying regulators’ requirements on KYC and security, ixWallet 2.0 allows users to choose whether they want to conduct full KYC for regulated activities through its settings,” said Irene Wong, the founder and CEO of ixFintech. This launching event also records a successful collaboration with Polydigi Tech Ltd for its pending patent on the world’s first Anti-Authorised Push Payment (Anti-App) scams and phishing Digital ID authentication s-Factr™ solution and IronCAP, a code-based cryptographic technology by 01 Communique Laboratory Inc as announced in Q2 2021. These technologies are likely to make ixWallet 2.0 the safest digital wallet in the world. The company is also excited to announce the successful completion of the Proof-Of-Concept Project (PoC Project) on the world’s first audited Tea Cake Tokenisation. 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About IX Fintech IX Fintech Group is a Hong Kong based digital assets award winning company, including HK FinTech Awards, HK FinTech Impetus Awards, IFTA Awards and TADS Awards. The company’s mission is to bridge the traditional finance and new digital finance in a secured and compliant way. In the past 3 years, the Group won awards in different areas including cross boarder payment solution, blockchain technology, wealth management and trading platform etc. IX Fintech Group created a DEFI machine, DAEM (Digital Asset Exchange Machine) and ixWallet both installed with post quantum computing security, and the Bitcoin Lei see, all world’s first in the market. 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It is missioned to bring transparency and standardization to the digital asset and tokenisation world through building an investment-grade and rules-based benchmarks. IX Asia Indexes launched the award winning ixCrypto Index (IXCI) in 2018, followed by two new Indexes ixBitcoin (IXBI) and ixEthereum (IXEI) Index to complete the ixCrypto Index Series in early 2021. They are currently available in 85 countries via Nasdaq and IX Asia Indexes Company data feed to Bloomberg, Reuters, banks institutions and information vendors. Real time index is disseminated every 15 second interval from Hong Kong Time 9 a.m. to 9 p.m.. An index advisory committee with representation from different industries to ensure the professionality and impartiality of the index methodologies and operations. About Polydigi Tech Following an invitation from the United Kingdom Department of International Trade, Polydigi Tech established its Headquarter in Edinburgh, Scotland in 2019. Polydigi Tech is an innovative cybersecurity company that specialises in cutting-edge identity verification technologies. To counter the ever-growing risk of cyber-threats, Polydigi Tech has developed various patented and patent-pending innovative solutions including mobile phone based multi-factor authentication, biometric authentication, and hardware protection for IoT devices and networks. About 01 Communique Established in 1992, 01 Communique (TSX-V: ONE; OTCQB: OONEF) has always been at the forefront of technology. The Company’s cyber security business unit focuses on post-quantum cybersecurity with the development of its IronCAP™ technology. IronCAP™’s patent-pending cryptographic system is an advanced Goppa code-based post-quantum cryptographic technology that can be implemented on classical computer systems as we know them today while at the same time can also safeguard against attacks in the future post-quantum world of computing. 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ixFintech Group Limited Announces Launch of ixWallet 2.0 and Plans to Launch New Asset-backed TeaCoin

ixFintech | December 22, 2021

IX Fintech Group Limited (ixFintech) is honoured to announce the successful integration of privacy identity authentication and post quantum computing security into ixWallet to safeguard users' identity against cybersecurity risk. In Q1 2022, the company also aims to launch ixPoint, the company's first-ever reward point scheme, as well as the first asset-backed TeaCoin. The new version of ixWallet comes with two new indexes: ixBitcoin and ixEthereum. These indexes in combination with ixCrypto Index facilitate easy comparison of the performance of the whole Crypto market versus the performance of Bitcoin and Ethereum. ixWallet 2.0 offers more efficient and flexible KYC (Know Your Customer) processes depending on the users’ needs and usage. “The ixWallet 2.0 marks a momentous milestone in our development journey to provide enhanced protection for our customers’ valuable digital assets. In addition to serving users who want anonymity while satisfying regulators’ requirements on KYC and security, ixWallet 2.0 allows users to choose whether they want to conduct full KYC for regulated activities through its settings,” said Irene Wong, the founder and CEO of ixFintech. This launching event also records a successful collaboration with Polydigi Tech Ltd for its pending patent on the world’s first Anti-Authorised Push Payment (Anti-App) scams and phishing Digital ID authentication s-Factr™ solution and IronCAP, a code-based cryptographic technology by 01 Communique Laboratory Inc as announced in Q2 2021. These technologies are likely to make ixWallet 2.0 the safest digital wallet in the world. The company is also excited to announce the successful completion of the Proof-Of-Concept Project (PoC Project) on the world’s first audited Tea Cake Tokenisation. The Financial Services and the Treasury Bureau (FSTB) launched the Fintech Proof-of-Concept Subsidy Scheme (the “PoC Scheme”) aiming to encourage traditional financial institutions (the “FIs”) to partner up with Fintech companies to conduct the PoC Project on innovative financial service products. An asset-backed token is a digital token based on blockchain technology that derives its value based on the underlying asset. Coin holders may benefit from the liquidity and price performance of the token in the secondary market. The TeaCoin was designed with the traditional tea cake in mind and is available on ixWallet 2.0 for users to understand asset tokenisation. In the future, investors can store TeaCoins on ixWallet and this will allow them to safeguard their assets until they need to transfer such assets to another party or use them to redeem a real physical tea cake from the tea company. About IX Fintech IX Fintech Group is a Hong Kong based digital assets award winning company, including HK FinTech Awards, HK FinTech Impetus Awards, IFTA Awards and TADS Awards. The company’s mission is to bridge the traditional finance and new digital finance in a secured and compliant way. In the past 3 years, the Group won awards in different areas including cross boarder payment solution, blockchain technology, wealth management and trading platform etc. IX Fintech Group created a DEFI machine, DAEM (Digital Asset Exchange Machine) and ixWallet both installed with post quantum computing security, and the Bitcoin Lei see, all world’s first in the market. The whole system is truly decentralized, to provide users an “instant trading- instant settled” into clients’ unique wallet new and better experience, eliminating all middle parties default risk. ixWallet 2.0 newly released is a truly distributed ledger wallet that enables users to manage not only cryptos but other kinds of digital assets. Transactions are transparent and can be checked from public proven websites. ixWallet2.0 is protected from phishing. It is equipped with the next generation OTP solution. IX Asia Indexes Company Limited (“IX Asia Indexes”) is a wholly owned subsidiary of the IX Fintech Group. Aiming to become one of the leading index compilers in Asia, its services in the areas of both real and digital assets cover index consultancy, index design, index calculation and dissemination, and index education. It is missioned to bring transparency and standardization to the digital asset and tokenisation world through building an investment-grade and rules-based benchmarks. IX Asia Indexes launched the award winning ixCrypto Index (IXCI) in 2018, followed by two new Indexes ixBitcoin (IXBI) and ixEthereum (IXEI) Index to complete the ixCrypto Index Series in early 2021. They are currently available in 85 countries via Nasdaq and IX Asia Indexes Company data feed to Bloomberg, Reuters, banks institutions and information vendors. Real time index is disseminated every 15 second interval from Hong Kong Time 9 a.m. to 9 p.m.. An index advisory committee with representation from different industries to ensure the professionality and impartiality of the index methodologies and operations. About Polydigi Tech Following an invitation from the United Kingdom Department of International Trade, Polydigi Tech established its Headquarter in Edinburgh, Scotland in 2019. Polydigi Tech is an innovative cybersecurity company that specialises in cutting-edge identity verification technologies. To counter the ever-growing risk of cyber-threats, Polydigi Tech has developed various patented and patent-pending innovative solutions including mobile phone based multi-factor authentication, biometric authentication, and hardware protection for IoT devices and networks. About 01 Communique Established in 1992, 01 Communique (TSX-V: ONE; OTCQB: OONEF) has always been at the forefront of technology. The Company’s cyber security business unit focuses on post-quantum cybersecurity with the development of its IronCAP™ technology. IronCAP™’s patent-pending cryptographic system is an advanced Goppa code-based post-quantum cryptographic technology that can be implemented on classical computer systems as we know them today while at the same time can also safeguard against attacks in the future post-quantum world of computing. 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Read More

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Finvasia | December 15, 2021

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Read More

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Paymerang Uses Amazon Web Services to Deliver World-Class Finance Automation Solutions

Paymerang | December 20, 2021

Paymerang is using Amazon Web Services (AWS) to empower mid-market businesses to accelerate vendor payment and deliver world-class customer service. To support the rapid growth of the company, Paymerang uses five AWS products for its operations and client services. Paymerang chose AWS because it simplifies and streamlines many time-consuming administrative processes while elevating existing database operations. The low cost and reputable products made it an easy transition to AWS. As Paymerang continues to expand, the company needed a cloud offering that is reliable and flexible enough to keep up with their rapid growth – so they turned to AWS. Using AWS's proven global infrastructure and database, analytics, contact center, and security capabilities, Paymerang has the ability to grow and scale their businesses while accelerating innovation in their payment automation solutions." Dave Trotter, Director of SMB Sales at Amazon Web Services, Inc. As a part of ongoing maturity and sophistication in the AP Automation space, Paymerang has made significant investment in migrating relational data storage to Amazon Aurora. Amazon Aurora enables Paymerang to leverage an enterprise class database technology with multi-region capabilities to read replicas, and automate crash recovery at a fraction of the cost of a proprietary database system. "This collaboration proves Paymerang's commitment to being a cloud-first company. We're thrilled to work with AWS, the best in the business, to power the next generation of fintech solutions," said Nasser Chanda, CEO of Paymerang. As the company grew, it realized the importance of using a premiere contact center solution with flagship application integration. Amazon Connect has streamlined payment operations by reducing the number of unique phone numbers while also greatly improving the quality of calls. Since implementation, Paymerang has seamlessly integrated the rich data generated from Amazon Connect and Contact Lens directly into their enterprise data lake. This creates advanced dashboards that quickly show supervisors how efficient the operations teams are performing. Paymerang is leveraging Amazon Cognito to integrate with their authentication and authorization systems to identify users in the system, authorize approved actions those users can execute based on their role, and integrate with fine-grained access controls using AWS Identity and Access Management (IAM). Amazon Cognito provides the peace of mind for Paymerang to know they have the army of security engineers at AWS on their side, allowing them to reallocate resources to building client-facing features. Paymerang generates rich data, and when exploring various analytics and reporting tools on the market, it was clear that the best tool at the best cost was Amazon QuickSight. The seamless integration between Amazon QuickSight and Paymerang created immediate time and cost savings. Amazon QuickSight has quickly become the primary report technology of choice, and Paymerang is already working to embed Amazon QuickSight dashboard capabilities into their products using Amazon QuickSight Q and embedded analytics. About Paymerang: Paymerang provides streamlined invoice and payment automation solutions that bring Accounts Payable (AP) departments into the modern age. Paymerang's solutions save AP departments hundreds of hours annually, enhance visibility, increase accuracy, improve efficiency, and earn rebates while reducing paper, fraud risks, and operating costs.

Read More

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