Technology

Nium and Kinexys by J.P. Morgan (formerly Onyx by J.P. Morgan) Enhance Cross-Border Payment Accuracy with Account Validation Services in Malaysia, Thailand, and Hong Kong

Published

3 weeks ago

November 7, 2024

Collective network intelligence is used to validate account information before initiating payments, reducing misdirected payments and fraud

SINGAPORE, Nov. 7, 2024 /PRNewswire/ — Nium today announced an expansion to its global collaboration with Kinexys by J.P. Morgan (formerly Onyx by J.P. Morgan), with the cross-border payments leader being the first fintech company to provide data that helps validate bank account details used in international payments to Malaysia, Thailand, and Hong Kong. Nium Verify will provide data to Confirm, an application developed by Kinexys by J.P. Morgan, designed for the exchange of global account validation information. The solution is used to validate beneficiary account details in real-time, prior to payment, significantly reducing the likelihood of errors and failed payments when making cross-border transactions.

Institutions across the globe experience a high number of payment returns and fraud due to the inability to verify account information in real time prior to payment processing. This results in unnecessary fees, payment delays, and customer experience issues. Based on a market evaluation of high-value payment returns in 2020, there is an opportunity to save millions of dollars on high value payments and three to four days of payment-related delays.

Nium is providing data from Nium Verify to Liink, developed by Kinexys by J.P. Morgan’s blockchain business unit, which provides scalable solutions and creates ecosystems that transform the way information, money, and assets move. Liink is the world’s first bank-led, peer-to-peer network that facilitates secure and private information and capability exchange between dozens of sophisticated global institutions, such as banks, credit unions, fintechs and digital banks, among others. Built on a private, permissioned blockchain network, Liink enables participants to share information across its network, all while maintaining the three fundamental properties of information sharing: sovereignty, security and privacy.

“The additional markets for which Nium is able to provide data coverage will expand Confirm’s significant global reach even further, providing incremental value to inquiring participants on the network without requiring any incremental technology uplift,” said Zack Chestnut, Global Head of Business Development for Kinexys Liink and Kinexys Digital Payments. “This is in line with Confirm’s goal to provide global account verification services through a single, secure network. We are excited to partner with Nium to provide additional value to our participants and make the global payments ecosystem more efficient.”

Globally, Nium Verify provides real-time insight into the account beneficiaries in more than 50 markets. It applies advanced technologies to indicate in real-time whether account details are accurate. Nium introduced Verify at the Money20/20 conference in Las Vegas.

“We are excited to deepen our relationship with Kinexys by J.P. Morgan and move closer towards our shared goal of providing businesses with faster, more secure, and reliable payment experiences in the rapidly growing APAC region,” said Alex Johnson, Chief Payments Officer at Nium. “This collaboration aligns with Nium’s mission to simplify and streamline cross-border payments for businesses worldwide. By leveraging our account verification capabilities, we are reducing friction in global payments, creating a more efficient, secure, and compliant payments ecosystem.”

For more information about Nium Verify, visit the link here.

About Nium

Nium, the leading global infrastructure for real-time cross-border payments, was founded on the mission to deliver the global payments infrastructure of tomorrow, today. With the onset of the global economy, its payments infrastructure is shaping how banks, fintechs, and businesses everywhere collect, convert, and disburse funds instantly across borders. Its payout network supports 100 currencies and spans 220+ markets, 100 of which in real-time. Funds can be disbursed to accounts, wallets, and cards and collected locally in 35 markets. Nium’s growing card issuance business is already available in 34 countries. Nium holds regulatory licences and authorisations in more than 40 countries, enabling seamless onboarding, rapid integration, and compliance – independent of geography. The company is co-headquartered in San Francisco and Singapore.

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Technology

NASA, USAID Invite Media to Launch of New SERVIR Central America Hub

Published

49 minutes ago

November 27, 2024

HUNTSVILLE, Ala., Nov. 27, 2024 /PRNewswire/ — NASA and the U.S. Agency for International Development (USAID) invite media to the official launch celebration of the new SERVIR Central America regional hub, located in Costa Rica, on Tuesday, Dec. 3, at 11 a.m. EST. The event will be hosted by NASA SERVIR Program Manager Daniel Irwin, U.S. Ambassador to El Salvador William H. Duncan, and a representative from El Salvador’s Ministry of Environment and Natural Resources (MARN).

Central America is the latest addition to SERVIR’s global network, a NASA and USAID initiative that has been operating in Asia, Africa, and Latin America since 2005.

Implemented by the Tropical Agricultural Research and Higher Education Center (CATIE), SERVIR Central America will strengthen climate resilience, sustainable resource management, and biodiversity conservation through satellite data and geospatial technology. The SERVIR Central America hub will support evidence-based decision-making at local, national, and regional levels, strengthening the resilience of more than 40 million people in one of the world’s most climate-vulnerable regions.

The event will be in Spanish with English translation available.

For press access and location details, please RSVP to Belarminda Quijano at belarminda@bqcomunicaciones.com by Monday, Dec. 2. NASA’s media accreditation policy is online. The event will be livestreamed.

For more information on SERVIR, visit:

https://www.nasa.gov/servir/

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SOURCE NASA

Technology

NOVASPARKS FEEDHANDLERS NOW OPTIMIZED FOR TSE’S ARROWHEAD 4.0

Published

49 minutes ago

November 27, 2024

The Leading FPGA-powered market data company announces a successful migration to Arrowhead 4.0, demonstrating its strength with FPGA-powered feed handlers.

NEW YORK and LONDON and PARIS and TOKYO, Nov. 27, 2024 /PRNewswire/ — NovaSparks, the leading field programmable gate array (FPGA) market data company, today announced the successful introduction of its FPGA feed handlers to support the new Arrowhead 4.0 feed on Tokyo Stock Exchange’s (TSE), one of the most strategic and competitive markets in the Asia-Pacific (APAC) region. NovaSparks continues to enhance its coverage in APAC markets by reducing the latencies of its feed handlers on multiple APAC exchanges, and by developing market-specific features such as Itayose for TSE—a Japanese auction method used to set prices and facilitate the reopening of trading floors. This achievement underscores NovaSparks’ ability to support advanced market technology and its ongoing commitment to the APAC financial sector.

The Arrowhead 4.0 migration, a significant move by TSE, shifts from Market by Level (MBL) to Market by Order (MBO), providing traders with unparalleled market data granularity. Unlike MBL, where quotes are aggregated, MBO publishes each individual buy and sell order, offering traders a detailed view of market activity. This transition allows market participants to leverage deeper insights and execute more strategic trading decisions.

“Increasing the transparency and granularity of market data has been pivotal for enhancing trading strategies and market resilience,” said Luc Burgun, CEO of NovaSparks. “With the shift from Market by Level to Market by Order, traders now have a deeper view of individual orders, enabling optimized order placement and advanced algorithmic trading. Our FPGA solutions were instrumental in processing the surge in data volume seamlessly, reinforcing market stability and performance. This transition exemplifies our commitment to equipping financial institutions with the technology needed to stay competitive and compliant during high frequency trading.”

“Arrowhead 4.0 was a very important market data feed for our company, and using NovaSparks enabled us to significantly reduce the complexity of switching to the MBO format. We achieved our goal of not losing any packet while providing consistent auction prices since the first days of trading,” said one of NovaTick’s customers who successfully moved his brokerage trading infrastructure to TSE Arrowhead 4.0.

The Power of FPGA Technology

The MBO format significantly increases data volume—an estimated additional 3 000+ messages per second—and demands that feed handlers build comprehensive order books, a task not required under MBL. While software-based solutions may need up to three times more memory and double the computing power to process this influx, FPGA technology excels in handling such high data loads efficiently, maintaining high-performance with the speed and determinism that only FPGAs can bring.

About NovaSparks

NovaSparks is the leader in FPGA-based high performance and ultra-low latency trading solutions for financial markets. NovaTick™, its flagship Ticker Plant product, supports 75 feeds across the major Equities, Futures and Options trading venues in North America, Europe and Asia. It is packaged in scalable ‘easy-to-deploy’ appliances or in ‘tightly coupled’ PCIe cards. NovaSparks scalable and deterministic feed handlers deliver normalized market data, including order book building and multi-feed consolidation with sub microsecond processing latency, even during market peaks period. Deterministic performance is extended to the whole trading cycle, whether the trading algorithms are implemented in software or in hardware. NovaTick™ also includes advanced built-in functions to support and optimize the use of wireless infrastructures.

The company is headquartered in Paris (France), New York City (USA) and has offices in London (UK), Nantes (France), Athens (Greece) and Bangkok (Thailand).

View original content to download multimedia:https://www.prnewswire.com/news-releases/novasparks-feedhandlers-now-optimized-for-tses-arrowhead-4-0–302317606.html

SOURCE NovaSparks

Technology

Netlight announces new rotation in CEO duo

Published

49 minutes ago

November 27, 2024

STOCKHOLM, Nov. 27, 2024 /PRNewswire/ — Netlight, a leading digital consulting firm, announces a rotation in the CEO duo. Felix Sprick will step out from his role to continue as a Partner amongst Partners while Anders Thall will be stepping into the position alongside the current co-CEO Katri Junna.

Netlight introduced its innovative CEO duo model in 2021, featuring two equal leaders sharing the role. This model challenges the traditional CEO structure, offering richer perspectives, a broader leadership skill set, greater international exposure and an equal sparring partner for those in the role.

The rotation principle is a fundamental feature of Netlight’s CEO duo model. Netlight’s Board of Directors, in collaboration with the Partner group, selects every few years a new co-CEO from Partner group maintaining alignment with Netlight’s vision and values to drive long-term success.

The newly appointed co-CEO Anders Thall is a Partner and consultant, based in Netlight’s office in Stockholm. Thall has a track record of strategic advisory and he has been working with defining and expanding Netlight’s service offering globally.

Alongside the rotation in the CEO duo, Netlight strengthens the executive group by appointing Djavad Hedayati, Partner based in Munich, to be part of the group. The executive group is responsible for Netlight’s global business operations and governance.

This will take effect from 1st of January 2025.

“I am excited and honored to step into the role of co-CEO. Netlight’s commitment to innovation, collaboration, and diversity aligns closely with my own values. I look forward to working alongside Katri Junna to build on the company’s success,” says Anders Thall, the new co-CEO.

“At Netlight, we thrive on continuous renewal, which allows us to adapt, innovate, and stay competitive in a changing world – and our co-CEO model is in line with that. I am thrilled to welcome Anders Thall to the role, I believe our strengths complement each other in serving Netlight going forward,” says Katri Junna the current co-CEO.

Erik Fröberg, Chairman of the Board, adds: “Netlight has successfully navigated a challenging market environment, and I want to extend my gratitude to Felix Sprick for his valuable contributions. We are pleased to welcome Anders Thall as the new co-CEO. We are confident that the combined leadership of Katri Junna and Anders Thall will enable Netlight to thrive and excel in the ever-evolving digital landscape. I am also very pleased that Djavad will be part of the executive group where he will assume increased responsibility.”

From the departing co-CEO Felix Sprick: “Serving as co-CEO of Netlight has been an incredible journey and an honour. I deeply believe in the strength of our rotation model, which enables leaders to step into and out of the role seamlessly and without prestige. This approach not only provides Anders Thall the opportunity to grow and thrive as he takes on the role, but also allows me to refocus on driving Netlight forward from a partner perspective.”

About Netlight

Netlight is an international digital consulting firm, helping leading companies to succeed in the digital landscape, from advice to implementation. Our service contains the collective intelligence of 2000 consultants offering a comprehensive range of digital services, from strategy to technology. We support industries that are facing new challenges and opportunities based on new technology, to make better business. Netlight has been awarded several times for profitable growth and management, as a top employer, and for our engagement in Diversity, Equity, and Inclusion. Located in Stockholm, Oslo, Helsinki, Copenhagen, Munich, Hamburg, Berlin, Frankfurt, Zurich, Cologne, Amsterdam and Toronto. Co-creating the future today, since 1999. www.netlight.com