360factors, Inc. | April 11, 2022
360factors, Inc. announced today that Park National Bank, a bank with $10B in assets headquartered in Newark, Ohio, selected 360factors' Predict360 risk and compliance intelligence platform to enhance its enterprise risk management program and streamline quarterly certifications and attestations for Sarbanes-Oxley.
The bank will deploy 360factors' Predict360 solution suite, an artificial intelligence (AI)-powered platform that vertically integrates risks and controls, regulations and requirements, KRIs with risk insights, audit and examinations, policies and procedures, and more in a unified, cloud-based system. Predict360's SaaS architecture and modern technologies deliver predictive analytics, data insights for predicting risks and streamlined compliance.
360factors is especially thrilled to welcome Park National Bank to the 360factors family, Predict360 is ideal for growing financial organizations that require cost-effective, intuitive solutions that are easy to deploy and scalable."
Carl L. McCauley, CEO for 360factors.
As a risk and compliance solutions leader within the banking and financial services industries, 360factors continues to develop relationships with banks and financial services institutions seeking to remove inefficiencies while elevating their risk and compliance management programs.
About 360factors, Inc.
360factors empowers organizations to accelerate profitability, innovation and productivity by predicting risks and streamlining compliance. Predict360, its flagship software product, is a Risk and Compliance Intelligence Platform augmented with A.I. technology to predict and mitigate risks while streamlining compliance. Predict360 integrates regulations and obligations, compliance management, risks and controls, audits and assessments, policies and procedures, and training in a cloud-based SaaS platform to provide predictive risk analytics and streamline compliance. 360factors is the endorsed solution provider for risk and compliance management by the American Bankers Association (ABA).
About Park National Bank
Headquartered in Newark, Ohio, Park National Corporation had $9.6 billion in total assets (as of December 31, 2021). Founded in 1908, it offers a full range of financial services in Ohio, Kentucky, and the Carolinas. The bank consistently earns high marks and awards for its service, community leadership, and financial performance.
GMEX Group | April 18, 2022
London, New Delhi, 14 April 2021 - Hirander Misra, Chairman & CEO of GMEX Group, a leader in digital business and technology solutions for exchanges and post-trade market infrastructure, has received the prestigious Hind Rattan award. The Hind Rattan, translated into English as "Jewel of India", is one of the highest awards granted annually to non-resident persons of Indian origin in recognition of their outstanding services, achievements, and contributions in their respective fields. It is awarded by the NRI Welfare Society of India at the Society’s annual congress.
The Hind Rattan Awards honour high achievers of Indian origin from professional disciplines. Over the past 41 years, the NRI Welfare Society of India has become a strong bridge connecting people of Indian origin with India. Its focus is to "strengthen emotional bonds" between the diaspora and the country.
The Hind Rattan award was presented on 14th April 2022 during the 41st International Convention of Non-Resident Indians (NRI’s) at the Constitution Club in New Delhi. The award ceremony was attended by members of the Indian Parliament, the Government of India and the Supreme Court of India, other preeminent dignitaries, business leaders, celebrities and NRIs from all over the world.
Speaking during the ceremony, Hirander Misra said “It is an absolute privilege to receive this award and be recognised for my work in the fintech capital markets arena for the last 26 years, a decade of which has been at GMEX Group, which I co-founded.” He added “I thank The NRI Welfare Society of India for this accolade and really value the work they are doing to ensure strong links between India and its diaspora.”
“We are proud of NRIs like Hirander Misra for making substantial contributions in strengthening India’s position in the global economy,” said Mr. Deepak Singh, convener of the NRI Welfare Society of India.
The Realization Group
Tel: +44 (0)7974 937 970
About GMEX Group
GMEX is a global market infrastructure vendor providing multi-asset trading, exchange matching engine and post-trade business solutions, and Ecosystem-as-a-Service (EsaaS) technology. These include, the GMEX MultiHub, which is a cloud based trading and post trade digital market infrastructure platform that as a ‘multi-asset network of networks’ facilitates a first of its kind collaboration across major institutions, regulatory regimes and start-ups with the goal of bringing digital assets to a wider audience. For more information visit www.gmex-group.com or Twitter @GMEX_Group
American Express | June 01, 2021
Survey indicates that U.S. spending is on the rise across nine key business-to-business (B2B) categories.
U.S. survey respondents cited that raw or processed materials, such as lumber, metals, and chemicals, are outpacing all other B2B spending categories.
Automation is anticipated to be the fastest-growing area in technology spending, with nearly half of U.S. survey respondents planning to automate or further automate their B2B payments over the next year1.
Flexibility is key for the U.S. businesses surveyed, which are adapting their supply chains due to pandemic challenges.
New York, June 1, 2021 – American Express today launched the Global Business Spend Indicator (GBSI), a new survey of global businesses conducted with the Centre for Business and Economic Research (CEBR)². The survey reveals U.S. businesses are the most bullish and optimistic when it comes to B2B spending among the six countries covered in the survey, with 76% of U.S. businesses expressing optimism about their prospects over the next 12 months. Respondents predicted that B2B spending in the U.S. will be an average of 3.4% higher in the second quarter compared to the same period last year. Applying that projection from the survey respondents to broader U.S. macroeconomic data would equate to an estimated $140 billion in additional B2B spending from U.S. businesses³.
“B2B spending is an important bellwether for the overall health of the economy, and the GBSI study shows U.S. businesses are investing and spending more, whether to adopt to the new ways of operating during the pandemic, or to digitize and streamline their operations,” said Dean Henry, EVP, Global Commercial Services at American Express. “It also reveals that some of the trends that have emerged or accelerated during the pandemic, such as payments automation and new approaches to managing the supply chain, are likely here to stay.”
CEBR estimates that the value of B2B expenditures each year amounts to nearly half (48%) of gross output (the total value of sales or receipts) in the U.S. economy. This means that for each dollar spent in the U.S. economy, approximately 48 cents are B2B transactions.
The GBSI is designed to explore the importance of business spending in both the global and local economies based on a survey of more than 3,600 businesses of all sizes and across industries in the UK, Australia, Canada, Japan, Mexico, and the U.S. For this report, B2B spend is classified as goods and services that a business purchases from another business to keep their business running. The survey looked at nine B2B spending categories, and three additional categories of taxes, people / workforce, and travel, entertainment and expenses, for a robust look at the dynamics and impact of overall business spending.
Raw or Processed Materials Top B2B Spend Categories
U.S. businesses surveyed reported that they have increased their overall B2B spending across all the core categories since the start of the year. The highest growth rates were in spending on raw or processed materials such as lumber, metals, and chemicals, which rose by an average of 6.2% between Q1 2020 and Q1 2021, according to survey respondents. This would equate to an estimated $37 billion in additional spend when applied to U.S. macroeconomic data, most likely due to rising prices of raw materials after the onset of the pandemic.
This trend is expected to continue, with the U.S. businesses surveyed anticipating another 6.4% rise in spending in this category from Q2 2021 over the prior quarter.
U.S. Businesses Lead in Payments Automation, with Plans to Continue Investing in the Year Ahead
Within the technology spending category, automation is the fastest anticipated growth area among the U.S. businesses surveyed. While many businesses have already been digitizing their B2B payments over the past few years, the pandemic helped accelerate this trend more broadly.
The GBSI found that, of the six surveyed countries, U.S. businesses have the highest level of automation across most business functions, including with purchasing / procurement, payroll, paying suppliers, supplier analysis, and syncing payments to the existing ledger. In fact, nearly half of U.S. businesses surveyed said they are mostly or fully automating the making (48%) and receiving (51%) of payments from business customers. In addition, there is more opportunity ahead as nearly half (46%) plan to automate or further automate each of these functions over the next 12 months.
With more automation, U.S. businesses may vastly reduce their reliance on manual payment methods – like writing and sending physical checks – which are still prevalent, with 33% of U.S. business spend currently using physical payment methods, according to the businesses surveyed.
On the whole, technology spending by U.S. businesses surveyed rose by an average of 4.1% between Q1 2020 and Q1 2021, equating to an estimated $25 billion in additional spend when applied to U.S. macroeconomic data, likely driven by the rapid digitization of businesses such as e-commerce capabilities or website enhancements. Nearly a quarter (22%) of U.S. businesses surveyed list increasing their online presence among their top three goals and 39% expect to expand their use of virtual cards over the next 12 months.
U.S. Businesses Prioritize Streamlined and Flexible Supply Chain Relationships
For many businesses, the experiences during the pandemic highlighted ways to streamline and seek more flexible ways to manage their supply chains and operating practices.
Over the last 12 months, 23% of U.S. businesses surveyed took steps to simplify their network of suppliers, 23% reduced or avoided long-term commitments to purchase from specific suppliers, and 22% chose suppliers with more flexible payment terms.
Over the next 12 months, U.S. businesses in the survey cite increasing profitability (34%), securing new business or bringing on new customers (32%), and remaining competitive (31%) as being among their three most important goals.
Modyo | December 29, 2021
It gives us great pleasure to announce today that TODO1/iuvity’s solutions will have the frontend digital financial experience powered by Modyo integrated with TODO1/iuvity’s Open Service Platform. With more than 20 years of digital financial experience, TODO1 is an industry leader powering important financial institutions in Latin America that have served more than 21 million digital customers in the past 12 months.
TODO1/iuvity and Modyo are providing clients and partners with a very compelling value proposition. Modyo’s frontend financial platform combined with TODO1/iuvity’s Open Service Platform’s APIs will give our clients flexibility and acceleration. Time to market can be reduced dramatically while helping to power next-gen digital financial solutions, leveraging the right architecture in the cloud.
The first phase of the joint effort will be to launch new ready to go financial experiences offered by TODO1/iuvity. Designed based on years of know-how in the financial services industry, TODO1/iuvity’s OSP provides over 300 rich and extensible APIs that can be leveraged to create unique solutions that meet the most demanding digital financial needs. Customer journeys can be customized by orchestrating business flows, linking existing or 3rd party services and adjusting the visual components to create an exceptional user experience. Additionally, the TODO1/iuvity Open Service Platform’s communication layer allows for quick integration to back-end core systems. Modyo will be the Front End, flexible experience layer connecting to TODO1/iuvity’s ready to go APIs.
Comments on the News
“TODO1 and Modyo have the ability to power a complete digital banking ecosystem,” said Mark Bonnell, CEO of Modyo. “Our frontend platform with a growing catalog of Financial Experiences integrated with TODO1’s Open Service Platform API’s will help financial institutions accelerate their digital transformation.”
This partnership is aligned with our goal of working with exceptional talent to build state of the art products. We are excited to join forces with Modyo to continue being at the forefront of user-centric technologies that empower businesses to better serve their customers.”
Felipe Uribe, CEO of TODO1/iuvity.
About TODO1 and iuvity
TODO1 is a leading technology company servicing key financial institutions in America. A growing number of over 21 million digital customers in the financial sector count on TODO1's solutions. With an exceptional track record, TODO1 delivers innovative and secure solutions through digital channels to financial institutions that want to positively transform the lives of their customers in Latin America and the US. At TODO1 we seek to humanize the relationship between people and their financial world by delivering digital channel solutions designed to facilitate their use and adoption. iuvity is a new brand created by TODO1 focused on the North American market.
Modyo is a fast growing software company that helps digital leaders from financial institutions & large enterprises transform their web and mobile channels with a lightweight, fast and secure next-gen frontend platform. With 130 employees today spread across 3 continents, Modyo accelerates digital transformation for clients and partners. For Financial Institutions, Modyo’s platform makes it easy to create and orchestrate digital experiences built through Micro Frontends that connect to API’s to help Financial Institutions transform faster and build amazing digital customer experiences