Cloud has taken over the enterprise with now 90% of organizations using cloud-based services, according to Deloitte’s Tech Trends 2020 report.
Investment in the field is set to boom with the consulting firm expecting cloud investments to double as a percentage of IT budget over the next three years. Forrester, meanwhile, forecasts that revenue from public cloud infrastructure, platforms, and applications, will grow to a healthy CAGR of 21% between 2018 and 2022, reaching US$411 billion over the next two years.
Huawei, the Chinese multinational tech firm is betting big on cloud computing, a field it believes will fuel future growth.
During the firm’s annual Global Analyst Summit in May, Huawei said that it has committed to investing US$200 million in its cloud and general-purpose computing ecosystem this year to develop more opportunities for enterprises and developers.
Huawei’s ongoing investment in cloud computing will deliver new tools and resources for 2 million developers around the world, the company said.
Huawei Cloud also recently launched a new offering called Huawei Cloud Stack (HCS) that’s specifically designed to provide cloud services to local data centers for government and enterprise customers. HCS provides three main capabilities: unified management, data governance, and application enablement.
Huawei Cloud currently has more than 210 cloud-based services in 23 categories and 190 industry-specific solutions. Its ecosystem counts over 10,000 consulting partners and 3,500 technology partners.
Leveraging cloud computing to expand globally
Further cementing its commitment to cloud computing, Huawei Cloud will be hosting a digital summit on June 10 focusing on how companies can leverage the cloud to go global.
The virtual event, taking place from 14:30 to 17:30 (GMT+8), is set to bring together experts from over 10 Asia-Pacific (APAC) countries, and will be broadcasted live in both English and Chinese.
The summit will explore the latest trends in global expansion of Chinese Internet companies, delve into how businesses can leverage cutting-edge technologies to adapt to the rapidly evolving business environment when entering new markets, and discuss how technological innovation can drive enterprise transformation and improve customer experience, among other topics.
The summit will feature exclusive events including the release for the 2020 Go Global Whitepaper for Internet Companies by Huawei Cloud, the cloud computing arm of the tech giant, as well as the launch of the Brilliant Plan: Asia-Pacific Internet-Telco Partnership Program.
Participants will also get to hear more on Huawei Cloud’ “Go Global” Program: “2+4” Capabilities, learn how SHAREit and NetEase Games have managed to successfully run their businesses globally, understand how the COVID-19 pandemic will be affecting Internet companies’ expansion plans, and win special perks from Huawei Cloud.
Speakers will include experts in the fields of cloud computing, big data, gaming, mobile Internet, and more, representing the likes of Huawei APAC, Huawei Cloud, Grand View Capital (GVC), SHAREit, NetEase Games, and Beluga Global.
To register, click this link http://intl.smarket.net.cn/u/2UIzUoU or scan the QR code provided.
NextGen.Net integration expertise gives Finsure strategic advantage
Finsure’s cloud-based broker CRM platform Infynity currently requires brokers to first upload, then re-download documents before they can upload and attach them to an application in ApplyOnline.
“This new piece of technology will enable the documents to be sent concurrently – similar to email attachments – and appear automatically in ApplyOnline,” says Simon Bednar, General Manager of Finsure Finance & Insurance and LoanKit Aggregation.
The solution will also integrate with their new customer portal.
“That’s where NextGen.Net and Finsure work really well together,” says Bednar.
“Our customer portal will allow customers to upload their documents on behalf of the broker. The broker will immediately see the documents in Infynity, confirm they’re correct and hit a button to send them to ApplyOnline along with the application data.”
Bednar estimates a 50 percent time saving, explaining “as part of that process we have a tax file number and sensitive data reduction piece of technology”.
“NextGen.Net work collaboratively with Finsure to ensure our systems talk to each other in a highly sophisticated manner to eliminate double handling and streamline the process from Point of Sale all the way to the lender’s approval,” says NextGen.Net national Customer Account Executive Greg Phillips.
“NextGen.Net and Finsure share the same vision to digitise and streamline the entire mortgage lending process,” says Phillips.
He adds that the seamless integration of ApplyOnline with Infynity, is “a holistic solution for Finsure’s brokers”.
Keen to take advantage of what open banking and NextGen.Net’s acquisition of Frollo might mean for their business, Bednar is excited about brokers being able to access borrower’s data directly from banks to inform an application.
“That’s exactly what I’m looking for, to have as little third-party integration and interaction as possible. It was great to see that NextGen.Net had that breadth of knowledge outside of submissions,” he says.
Bednar relies on NextGen.Net’s ApplyOnline platform to cover off on ‘efficiencies and accuracy’.
“That’s a huge piece of work in itself,” he exclaims, adding “we keep our platform open to allow brokers to be a little bit more fluid in how they collect the data; and the idea of them sending it to NextGen.Net is great for me because they effectively become the quality insurer and checker that allows our system to be efficient and accurate – so when it goes to the lender the data is complete.
“From a strategic partnership perspective that’s powerful.”
TrueLayer raises US$70m to build the world’s most valuable Open Banking network
TrueLayer, Europe’s leading open banking platform, today announced it has secured a US$70m Series D investment round led by new investor Addition. The latest raise reflects the growing demand for its open banking-based services and marks another significant milestone for TrueLayer on its mission to open up finance, building an open banking network that brings together payments, financial data, and identity to redefine how people spend, save, and transact online.
Existing investors, including Anthemis Group, Connect Ventures, Mouro Capital, Northzone, and Temasek, also participated, with a significant increase to the company’s valuation. Additional investors in the round include Visionaries Club, Surojit Chatterjee (CPO Coinbase), Zack Kanter (CEO Stedi), Daniel Graf (ex-Uber, Google, Twitter) and David Avgi (ex-CEO SafeCharge, CEO UniPaaS). It brings the total investment to date in TrueLayer to US$142m.
The new funding will be used to fuel global expansion and accelerate the development of premium open banking-based services that will continue to drive innovation and revenue growth for clients. It will also be used to expand TrueLayer’s engineering, product and commercial teams to meet the increasing global demand for its open banking platform.
TrueLayer’s API-first platform accounts for more than half of all open banking traffic in the UK, Ireland and Spain, processing billions of pounds in payments. It powers services for some of Europe’s fastest-growing brands, including Revolut, Trading 212 and Payoneer.
TrueLayer has a market-leading payment conversion rate that is 22% higher than other providers, according to OpenBanking UK and other bank sources, and up to 40% higher than cards. Merchants offering TrueLayer as a payment method in their checkout have found that on average, 1 in 3 consumers chose to pay via TrueLayer. As a result, open banking is displacing other payment methods, such as cards, as the default payment option online.
Over the past 12 months, TrueLayer has expanded its services across 12 European markets, growing payment volumes by 600x, and adding hundreds of new customers across digital banking, eCommerce, trading and investment, wealth management, crypto and iGaming. It has continued to innovate, for example, with the recent launch of PayDirect, combining instant pay-in capabilities with instant pay-outs, to deliver a higher converting, lower fraud method for online payments.
“When Luca and I started TrueLayer in 2016, we imagined open banking becoming a new digital channel for solving cost and complexities around payments, digital identity, credit data and much more. We wanted to open up this newly built infrastructure to many businesses and consumers. It is such a joy to see our vision coming alive and open banking based payments quickly becoming the new normal,” commented Francesco Simoneschi, CEO and Co-Founder at TrueLayer.
TrueLayer is rapidly expanding as demand for its open banking platform increases, largely driven by consumer demand for digital financial services that work better for them, and give them more control over their financial lives.
“We have achieved this milestone thanks to the hard work of our stellar team. Bringing radical new products into the hands of consumers and businesses is incredibly exciting,” explained Luca Martinetti, Co-Founder and CTO at TrueLayer. “This new financial network we are building on top of open architectures has massive long term implications for the whole fintech ecosystem and we won’t compromise our vision in any way.”
“That is why it is so important to select investors that can help you to plan for the next 15 years, not the next 15 months,” added Simoneschi. “The Addition team thinks very long term and it has been such a pleasure working together. They complement the incredibly strong group of experienced backers who align with our vision of how financial services are evolving.”
Lee Fixel, Founder of Addition, commented, “TrueLayer is ideally positioned to benefit from the trends shaping the future of financial services as more and more companies embed digitally native payments into their platforms. We look forward to supporting the TrueLayer team as they scale their offering and drive continued innovation.”
Novatti’s Ripple partnership live to The Philippines
Leading Australian digital banking and payments company Novatti, reports that its recently signed partnership with global payments disrupter Ripple, is now live with revenue-generating transactions taking place.
Ripple uses its decentralised, global financial network, RippleNet, to provide its partners with the ability to process global payments instantly, as well as providing access to emerging, high-growth capabilities, such as blockchain and the digital asset, XRP, a top five global cryptocurrency currently valued at more than USD$40 billion.
The initial focus of the partnership was to target cross-border transactions between Australia and the South- East Asia region, particularly the Philippines. This focus is delivering new customers, with Novatti now partnering with the Australian subsidiary of the Philippines’s largest non-bank, Filipino-owned, remittance service provider, iRemit, through RippleNet. This alone is expected to result in several thousand transactions a month being processed by Novatti through RippleNet. Revenue from this partnership is dependent on take-up of the services. Importantly, discussions are already underway to also expand this service to new financial services clients in South East Asia.
Managing Director of Novatti, Peter Cook, said, “We are delighted to see this partnership delivering for both Novatti and Ripple in such a short period of time. The partnership with Ripple not only provides Novatti’s customers with access to new, innovative payment solutions, it also highlights how Novatti’s partnerships translate into revenue.”
“Forming our partnership with Ripple was part of Novatti’s broader strategy to develop a banking and payments ecosystem that enables our existing platforms to scale quickly. In addition to Ripple, Novatti’s ecosystem now includes partnerships with world-leading payment and fintech companies including Visa, Apple Pay, Alipay, UnionPay International, Google Pay, Samsung Pay, Marqeta and Decta.”
“The early success of Novatti’s partnership with Ripple also highlights the benefits of our broader overseas expansion since the start of this year, with new licences obtained for the New Zealand market and Emersion now up and running in the US. As shown through Ripple, this expansion opens Novatti up to new revenue opportunities, and provides us with greater exposure to the global demand for digital payments that we expect to accelerate going forward.”
Cape awarded MVP Grant to kickstart new wave of Open Banking powered business finance tools
Cape, the Corporate Card helping small to medium business (SMBs) take control of their cash-flow, has been awarded a prestigious Minimum Viable Product (MVP) grant by the NSW Government.
The Cape team is improving the operating efficiency and long-term success of growing businesses by automating accounting and helping lower their bills, enabling business owners to get their spend management under control. Cape’s solution utilises Open Banking to help businesses unlock capital to invest in growth, whilst optimising cash flow to save on unnecessary expenditure.
The grant was awarded thanks to Cape’s proposition to build a cash management platform to remove vendor, expense and spend management roadblocks, saving thousands of dollars in the process for business owners.
Cape’s founders said that the grant would go towards securing early-stage growth opportunities for the company, particularly in product development and sales initiatives, as the company seeks to transition out of the pre-revenue stage.
Ryan Edwards-Pritchard, CEO of Cape, commented, “We’re excited to have the support of the NSW government in our mission to help business owners stay on top of their cash and keep their companies healthy. The grant shows how invested the government is in developing the local economy and continuing New South Wales reputation as an active fintech hub.”
Stuart Ayers, Minister for Jobs, Investment, Tourism and Western Sydney Stuart Ayres commented, “It is fantastic to see promising startups such as Cape tap into the NSW Government’s Minimum Viable Product (MVP) grant. The MVP grant is designed to support promising startups like Cape progress from product development to first sales.
Cape is currently gearing up for their launch and will initially go to market with a Rewards platform, before delivering Machine Learning capabilities to streamline receipt and business expense management across supplies, third party services, SAAS subscriptions & payments.
Dota 2 Patch 7.29 Will Reveal a New Hero
Pokemon GO announces details for Rivals Week
Valorant Redeem Codes: How to redeem?
MicroStrategy kauft weitere 253 BTC für 15 Millionen US-Dollar
How to watch the TFT Fates Championship
Best Warzone guns: the weapons you need to use in Black Ops Cold War Season 2
Ludwig passes 200,000 Twitch subscribers, closes in on Ninja’s record
W33 Removed From Team Nigma’s Active Roster
Hexagrams and Wolf No Longer Casting the Overwatch League 2021
Playa del Carmen: Krypto-Hotspot mit HODLversity
“Lost control,” TM Sentinel issues apology; seeks forgiveness for ‘disgraceful’ comments
Tournament platform Epulze secures £4.7m investment
These are the teams participating in the F1 Pro Series 2021
Code S RO16: Bunny & Hurricane advance, TY & DRG eliminated
Unternehmen gründen Crypto Council: Fidelity und Coinbase mit dabei
Standard Chartered turbocharges digital payments proposition with investment and the merger of CurrencyFair with Assembly Payments
Leading SME finance provider Capify breaking new ground with the launch of their exclusive solution for finance brokers
[Interview] Leo: “Work Auster Force is definitely a mechanically gifted team”
The five most shocking roster moves in CSGO history
Canceled Black Ops Cold War Battle Royale Map Potentially Leaks
Blockchain1 week ago
Bitcoin Cash Price Prediction: BCH/USD Price Turns Bearish; Can the $540 Support Hold?
Blockchain1 week ago
How Chainlink will help secure Polkadot’s environment
Esports6 days ago
GeneRaL is replaced by RAMZES666 on Na’Vi
Blockchain1 week ago
Blockchain-based renewable energy marketplaces gain traction in 2021
Cleantech1 week ago
Volkswagen’s European Factories Up To 95% Powered By Renewables
Aviation1 week ago
World2Fly gears up for July launch with roll-out of Airbus A350-900
PR Newswire1 week ago
Stärkung von Frauen in einer aufstrebenden Branche
Blockchain7 days ago
Mark Cuban Thinks Dogecoin ($DOGE) Could Get to $1, but Could It Get to $10?
Blockchain7 days ago
Hardware Hacker Modifies Old School Game Boy To Mine Bitcoin
Esports6 days ago
Amouranth becomes Twitch’s top female streamer, beats Pokimane
Esports1 week ago
PUBG releases limited-time 2D pixel shooter POBG where you get to fight against giant chickens for April Fool’s Day
Coinpedia1 week ago
BitTorrent Token Price Analysis – BTT Poised to Hit $1 In April?