Marking the 175th Anniversary of the Invention of the Telephone, Sinch Highlights Key Trends and Innovations Shaping the Next Era of Customer Engagement

ATLANTA and STOCKHOLM, Oct. 17, 2024 /PRNewswire/ — Sinch (Sinch AB (publ) – (XSTO: SINCH) — As the world commemorates the 175th anniversary of Antonio Meucci’s groundbreaking invention of the telephone, Sinch, which is pioneering the way the world communicates through its Customer Communications Cloud, is ushering in the next era of customer interaction. Sinch is at the forefront of this transformation by developing and delivering products that empower businesses to meet consumer expectations through seamless, rich multi-channel experiences.  

To celebrate this important milestone in human communication, Sinch commissioned a survey in North America to explore the future of customer engagement. The survey findings offer valuable insights, revealing that while rich, app-like experiences on platforms such as RCS, WhatsApp, and WeChat are already common in other parts of the world, the U.S. market lags behind in adopting these interactive messaging capabilities. However, this gap presents an exciting opportunity for innovation, allowing U.S. brands to leap forward and enhance customer engagement through advanced technologies. 

As the survey indicates, the shift from traditional communication methods to AI-powered, multimedia-rich experiences is accelerating. This evolution is critical, especially as brands prepare for high-stakes shopping events like Black Friday and Cyber Monday, where seamless, interactive engagement will be key to meeting growing consumer expectations. 

Key Survey Insights: 

RCS is poised to enhance mobile messaging: 

A substantial 67.3% of respondents expect RCS to become the preferred messaging platform, emphasizing the growing demand for richer, more engaging mobile communication experiences (especially as customers seek interactive and real-time support during major shopping days.) 

Younger generations embrace AI chatbots for shopping: 

Over 45% of Gen Z and millennial respondents (ages 18-44) expressed a willingness to use chatbots for Black Friday shopping, showcasing the increasing reliance on AI to enhance the retail experience. 

AI-driven communication is gaining momentum: 

50% of respondents predict that AI and chatbots will dominate customer experiences within the next decade, signaling a major shift toward automation and personalized experiences. This evolution is particularly relevant as brands prepare to manage interactions during peak shopping periods like Black Friday and Cyber Monday.With technologies like RCS, brands can deliver richer, real-time engagement, from personalized recommendations to seamless shopping experiences, enhancing the overall customer journey and experience during high demand periods. 

Customer service remains a critical differentiator: 

An overwhelming 75% of respondents said that excellent customer experiences enhance brand loyalty, reinforcing the importance of investing in AI and RCS to deliver seamless, customer-centric solutions, especially during peak shopping seasons.

“Our survey confirms what we’ve long anticipated: AI and RCS are revolutionizing customer communication,” said Sean O’Neal, Chief Product Officer at Sinch. “As businesses seek to create more meaningful, dynamic, and personalized experiences, Sinch’s advanced solutions are empowering brands to engage with their audiences in more effective and creative ways.” 

The invention of the telephone by Antonio Meucci in 1849 laid the foundation for modern communication, later enhanced, and popularized by Alexander Graham Bell. Just as Meucci’s groundbreaking work transformed human connection 175 years ago, the rise of AI and RCS is now revolutionizing how brands engage with customers, offering richer, more interactive, and personalized experiences. Unlocking the full potential of RCS will require widespread adoption across mobile carriers, operating systems, businesses, and consumers.  

Sinch is uniquely positioned to lead this transformation, leveraging our strong carrier relationships, longstanding partnerships with companies like Google, and our proven ability to drive industry change.

With our robust product suite—including solutions like RCS Upscale and Conversation API—we simplify access to RCS, making it easier for businesses to adopt and integrate, further accelerating the shift toward this new communication standard.  

As RCS adoption grows, next year’s Black Friday and Cyber Monday shopping season is set to be redefined by dynamic, real-time customer interactions. Leading this evolution, Sinch empowers brands with innovative tools to fully harness these technologies and elevate customer engagement. 

For more information about Sinch’s RCS and AI solutions, please visit the Sinch website. 

For further information, please contact:    
Janet Lennon, Director of Global PR & Communications
janet.lennon@sinch.com |1-206-914-6175

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SOURCE Sinch AB

HELSINKI and OSLO, Norway, Oct. 17, 2024 /PRNewswire/ — The 2024 Translink Corporate Finance Megatrends Report reveals that global IT spending reached $4.7 trillion in 2023, a 4.3% increase from 2022. Finland and Norway have emerged as dynamic hubs for IT development, innovation, and investment within this thriving global technology sector.

Finland’s thriving tech ecosystem

Ruben Moring, Partner at Translink Corporate Finance Finland, says, “Finland’s tech scene represents a thriving ecosystem that fosters early-stage innovation across various sectors. The country excels in gaming, artificial intelligence, databases, analytics, and cleantech. Advancements in industrial AI, IoT construction tech, healthcare, and sustainable technologies are propelling Finland’s startup scene forward.”

Norway’s robust startup environment 

Norway has developed a strong startup ecosystem with approximately 70 000 new companies created annually. Nora Håberg, Partner at Translink Corporate Finance Norway, says, “We’re driving innovation in renewables and cleantech while fostering an environment of trust, cooperation, and flat hierarchies. This creates unique opportunities for investors interested in the green transition.”

Government support fuels innovation

Both countries have implemented robust government initiatives to support technological innovation and digitalisation. “The Finnish government’s support for AI development has led to success stories like Silo AI, acquired by AMD in an all-cash transaction for $665 million,” explains Moring.

Håberg adds, “Norway’s Innovation Norway provided 7.1 billion NOK (€617 million) in financial support in 2023 through subsidies, loans, and guarantees.”

Sustainability is a core Nordic focus

Sustainability is ingrained in Finland and Norway’s tech sectors. The Nordic countries offer some of Europe’s cheapest and cleanest energy, attracting investments like Microsoft and Google data centres.”

In Norway, hydropower accounted for 89.2% of the electricity production in 2023, drawing foreign investment like Google’s 600 million EUR investment in a green data centre in Skien.

The Nordic talent pool is driving innovation

Finland and Norway boast highly educated workforces. Finland attracts international talent with its vibrant startup scene and high quality of life. In Norway, 48.1% of the adult population had tertiary education in 2022, above the OECD average.

Nordic M&A investment opportunities

Translink observes numerous mid-market opportunities in the region. In Norway, about 60% of announced M&A transactions in 2023 were cross-border.

Håberg concludes, “Finland and Norway’s tech ecosystems are continually evolving, with emerging innovation clusters and an increasing focus on deep tech. Translink Corporate Finance offers expertise to help mid-market investors navigate the new investment opportunities in the Nordic region.

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SINGAPORE, Oct. 17, 2024 /PRNewswire/ — Finastra, a global provider of financial services software applications, has announced the implementation of its front-to-back treasury solution, Kondor, at Fortune Vietnam Joint Stock Commercial Bank (LPBank) to modernize the bank’s treasury management operations and capabilities. This strategic collaboration is part of LPBank’s concerted effort to accelerate its digital transformation strategy and enhance its competitiveness in the market.

Achieving deployment in just six months, the rapid timeline was achieved through an agile approach, flexibility, and a collaborative working relationship that facilitated a seamless integration of new systems with existing technology infrastructure and workflow processes. The initiation of the project was carefully designed to help LPBank meet the rising demands of managing more sophisticated treasury and liquidity products for clients, as well as supporting general risk management decisions across the bank.

Ho Nam Tien, Standing Deputy Chairman of LPBank said, “The successful deployment of this innovative project is testament to our deep commitment toward digital transformation and creating value for our customers. It also speaks volumes to Finastra’s technological expertise as a partner. While we are in the early phase of recognizing the full potential of this investment on our treasury operations, we have already seen steady improvements to trading volumes, transaction quality, and reduced transaction times. LPBank is well positioned to further advance its leadership position in Vietnam.”

Finastra’s Treasury and Capital Markets business is built on a comprehensive platform of solutions that empower financial institutions like LPBank to achieve higher levels of efficiency, compliance, and growth across the trade and liquidity management lifecycle. Central to this current partnership is Finastra’s Kondor solution, which offers powerful risk analytics, trade processing, position management, and real-time risk coverage, enabling high-volume treasury trading while supporting complex derivatives, options, and structured transactions.

Richard Zhu, Managing Director, Capital Markets, Asia Pacific, Finastra said, “We are proud to be part of LPBank’s ambitious digitalization and modernization journey. In today’s landscape, digital transformation is a necessity for financial institutions hoping to keep pace with the shifting needs of customers and the rising pressures of competition and regulations. The ongoing support from LPBank’s senior leadership team was instrumental to the project’s success. It demonstrates an inspirational commitment to transforming the bank’s entire ecosystem with best-of-breed digital solutions which drive efficiency, sustainability and growth akin to Finastra’s Open Finance vision. This collaboration not only enhances LPBank’s operational capabilities but also sets a benchmark for innovation in the region.”

For more information on Kondor, please visit Finastra Kondor.

About Finastra
Finastra is a global provider of financial services software applications across Lending, Payments, Treasury and Capital Markets, and Universal (retail and digital) Banking. Committed to unlocking the potential of people, businesses and communities everywhere, its vision is to accelerate the future of open finance through technology and collaboration, and its pioneering approach is why it is trusted by ~8,100 financial institutions, including 45 of the world’s top 50 banks. For more information, visit finastra.com.

About LPBank
LPBank is one of the largest retail commercial banks in Vietnam with advantage of an extensive nationwide network. LPBank’s products and services serve customers through a nationwide network of branches and transaction offices covering 63 provinces in Vietnam. Its vision is to become the most trusted financial partner and the first choice of individuals, households and small and medium enterprises in rural and urban areas. For more information, visit lpbank.com.vn.

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