RIYADH, Saudi Arabia, Nov. 5, 2024 /PRNewswire/ — Almarai, the world’s largest vertically-integrated dairy company and the world’s fourth most valuable dairy brand in 2024, today announced a strategic partnership with Google Cloud to accelerate its digital transformation initiatives. This collaboration aims to empower Almarai to enhance operational efficiency, drive growth, and deliver exceptional customer experiences in an increasingly competitive market.

As the Middle East’s population grows and consumer demands evolve, Almarai recognizes the need to leverage digital technologies to optimize its operations and continue to offer world-class products and customer experiences. By migrating its critical systems to Google Cloud, Almarai gains access to a scalable, flexible, and cost-effective platform that will enable it to innovate faster and meet the challenges of a dynamic marketplace.

“At Almarai, we are committed to delivering the highest quality products and services to our customers,” said Danko Maras, Chief Financial Officer. “Our partnership with Google Cloud is a testament to our dedication to innovation and our pursuit of excellence. We are confident that this collaboration will empower us to unlock new opportunities, drive growth, and enhance our customer experience.”

Almarai’s digital transformation journey involves two key initiatives: migrating its SAP workloads to Google Cloud with SAP RISE, and moving its sales application to the cloud. These strategic moves empower Almarai to meet increasing global demands and leverage the full benefits of cloud computing, including:

Enhanced Operational Efficiency: Google Cloud’s robust, secure, and reliable infrastructure ensures Almarai can operate with confidence and achieve peak performance.Accelerated Innovation: The platform facilitates the rapid development and deployment of new applications and services, enabling Almarai to respond to evolving market needs swiftly and effectively.Scalability and Growth: Google Cloud’s inherent scalability allows Almarai to accommodate ambitious growth, optimize resource allocation, and seamlessly support future expansion.Seamless Integration: Almarai can seamlessly integrate Google Cloud services with existing systems and those of other cloud providers. This interoperability unlocks valuable insights and streamlines key processes by connecting with powerful analytics and automation tools.Data Sovereignty: By hosting data in Saudi Arabia with Google Cloud, Almarai ensures compliance with local regulations while maintaining complete control and ownership of its data. This commitment to data sovereignty aligns with Saudi Vision 2030, underscoring Almarai’s dedication to national priorities and its role in the Kingdom’s digital transformation.

“We are happy to partner with Google Cloud on our digital transformation journey,” said Dr. Faisal Alnasser, CIO of Almarai. “Almarai’s global aspirations demand agile technologies and superior customer experiences in order to stay ahead of the curve in the rapidly evolving FMCG industry. Google Cloud’s world-class infrastructure and advanced technologies will provide us with the foundation we need to achieve our strategic objectives and deliver exceptional value to our customers.”

“Almarai is a true innovator in the food and beverage industry, and we are proud to support its digital transformation journey,” said Bader Almadi, Country Manager for Google Cloud in Saudi Arabia. “By leveraging the power of Google Cloud’s infrastructure and cutting-edge technologies, Almarai is not only enhancing its operational efficiency but also setting a new standard for customer experience in the region. As one of the world’s most valuable dairy brands, Almarai’s commitment to digital transformation is an inspiration to businesses across the Middle East.”

About Almarai
Founded in 1977, Almarai Company is the world’s largest vertically integrated dairy company and the region’s largest food and beverage manufacturing and distribution company. Headquartered in the Kingdom of Saudi Arabia, Almarai Company is ranked as the number one FMCG Brand in the MENA region and is market leader in all its categories across the GCC.

With more than 45 years of sustainable growth, Almarai Company continues to provide nutritious and healthy products to consumers of all ages with its growth stemming from its bedrock principle, “Quality you can trust”.

In addition to its high-quality dairy products, Almarai Company has diversified its product portfolio to include juices & beverages, bakery, poultry, infant formula, dates, fish, and seafood products under 21 brands, including: Almarai, L’usine, 7DAYS, ALYOUM, Nuralac, Farm’s Select, One Bean, Almarai Refresh, Almira, Seama, Almara Pro, Premier Chef, and Almarai will soon launch its new brand in the red meat sector, to enhance and support food security in the Kingdom, in line with the goals of Saudi Vision 2030. In 2023, Almarai Company reported net income of SAR 2.05 billion on sales of SAR 19.575 billion.

For more information, please visit the Almarai Company website: http://www.almarai.com

About Google Cloud
Google Cloud is the new way to the cloud, providing AI, infrastructure, developer, data, security, and collaboration tools built for today and tomorrow. Google Cloud offers a powerful, fully integrated and optimized AI stack with its own planet-scale infrastructure, custom-built chips, generative AI models and development platform, as well as AI-powered applications, to help organizations transform. Customers in more than 200 countries and territories turn to Google Cloud as their trusted technology partner.

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SOURCE Google Cloud

WASHINGTON and BERLIN, Nov. 5, 2024 /PRNewswire/ — Chemonics International, a leading sustainable development company, announced its acquisition of Luvent Consulting, a prominent Berlin-based company specialising in sustainable development solutions. This strategic partnership signals Chemonics’ commitment to expanding its presence in Europe and beyond, as it continues to address complex global challenges.

With 50 years of experience, Chemonics has established itself as a trusted partner in delivering innovative and effective development solutions in more than 150 countries. By joining forces with Luvent’s expertise and network, Chemonics aims to strengthen its support for international partnerships working towards tailored, locally driven solutions to communities around the world.

“Acquiring Luvent Consulting represents an exciting milestone for Chemonics as we grow our client base and expand our capabilities,” said Jamey Butcher, Chemonics President and CEO. “Luvent’s extensive experience and understanding of the sustainable development landscape align seamlessly with our mission to promote meaningful change worldwide. Together, we look forward to driving even greater impact and advancing the sustainable development goals.”

Luvent brings a wealth of knowledge and experience as a specialist in international development, delivering innovative solutions in digital transformation, private sector development, and climate action. As a value-driven company, the Luvent team has successfully implemented projects worldwide on behalf of European donors, earning recognition for their innovative approaches, measurable results, and inclusive partnerships.

“We are thrilled to join forces with Chemonics, a leader in the international development sector,” said Alexander von Brühl-Pohl, Co-Founder and Managing Director of Luvent. “This partnership will enable us to leverage our expertise on a larger scale, reaching more communities and driving positive change where it is needed most.”

“This acquisition marks an exciting new chapter for Luvent Consulting as we integrate Chemonics’ extensive global resources with our innovative approach to international development,” said Benedikt Pollmeier-Aletras, Co-Founder and Managing Director of Luvent. “We are eager to leverage Chemonics’ deep experience and infrastructure to deliver even more impactful and sustainable solutions, especially in partnership with European funding institutions. Together, we can drive forward the evolution of development cooperation in a purposeful and value-driven way.”

The acquisition of Luvent underscores Chemonics’ commitment to fostering collaboration and innovation in the global development community. By combining resources, networks, and expertise, Chemonics and Luvent aim to deliver sustainable solutions that address the world’s most pressing challenges, from poverty alleviation to environmental conservation.

About Chemonics International:

Chemonics International is a leading sustainable development company that works in more than 100 countries around the world. Our mission is to promote meaningful change to help people live healthier, more productive, and more independent lives. For more information, please visit www.chemonics.com.

About Luvent:

Luvent Consulting is Europe’s specialist in developing and implementing innovative solutions for the most pressing challenges in international development. By focusing on digital transformation, climate action, and sustainable economic growth through private sector partnerships, we are dedicated to delivering value-driven, transformative projects that create lasting impact, empower communities, and safeguard the well-being of future generations.” For more information, please visit www.luvent-consulting.com  

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Continued momentum shows banks see behavioral biometric intelligence as a mandatory solution for combatting next-generation fraud, scams, and financial crime

NEW YORK, Nov. 5, 2024 /PRNewswire/ — BioCatch, the global leader in digital fraud detection and financial crime prevention powered by behavioral biometric intelligence, grew its Q3 annual recurring revenue (ARR) by 40% year-over-year. BioCatch welcomed 31 new customers in the quarter and continues to strengthen relationships with the world’s largest retail banks, achieving a world-class 124% net dollar retention over the last 12 months.

BioCatch’s flagship product portfolio, BioCatch Connect™, continues to fuel the company’s growth. Total ARR from new products grew 165% year over year, driven in part by significant adoption of its mules solution in the APAC region, where BioCatch helped APAC banks shut down more than 150,000 money mule accounts in 2023.

“We remain laser focused on our customers,” BioCatch CEO Gadi Mazor said. “Bad actors never stop innovating, and so we – as an industry – must not either. We believe cooperation among banks, regulators, law enforcement, and vendors is a vital part of this progress and must be foundational to an industry-wide, proactive fraud and financial crime detection and prevention strategy. We’re excited to introduce new initiatives and deliver forward-thinking solutions in the next few months and beyond that we believe will change forever change the fraud and financial crime fighting landscape.”

Other milestones achieved in Q3 include: 

The official closing of global investment firm Permira’s acquisition of a majority stake in the company.

The signing of a global deal with a multi-national bank headquartered in Europe.

Adding 31 new customers to a global roster of 237, including onboarding one of the world’s largest 100 retail banks. BioCatch now serves 34 of the global top-100 banks.

Onboarding 23 new employees, bringing the total team headcount to more than 340 in 21 different nations.

Continued and consistent EBITDA growth and zero debt.

Releasing two highly publicized research reports covering fraud trends in Brazil and Latin America.

Partnering with the Global Anti-Scam Alliance (GASA) on its The State of Scams in France – 2024 report and Javelin Strategy & Research on a consumer survey covering The Emotional Undercurrent of Financial Scams.

Co-publishing Financial Crime and 314(b): A Practical Guide to Navigating Information Sharing Obstacles with The Knoble.

Earning the silver medal in the Best Financial Crime Investigation and Reporting category of Datos Insights’ 2024 Fraud & AML Impact Awards.

About BioCatch:

BioCatch stands at the forefront of digital fraud detection, pioneering behavioral biometric intelligence grounded in advanced cognitive science and machine learning. BioCatch analyzes thousands of user interactions to support a digital banking environment where identity, trust, and ease coexist. Today, 34 of the world’s largest 100 banks and 237 total financial institutions rely on BioCatch Connect™ to combat fraud, facilitate digital transformation, and grow customer relationships. BioCatch’s Client Innovation Board – an industry-led initiative featuring American Express, Barclays, Citi Ventures, HSBC, and National Australia Bank – collaborates to pioneer creative and innovative ways to leverage customer relationships for fraud prevention. With more than a decade of data analysis, 93 registered patents, and unmatched expertise, BioCatch continues to lead innovation to address future challenges. For more information, please visit www.biocatch.com.

PR contact:

Mac King
BioCatch senior comms manager
Mac.King@BioCatch.com

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