10 Fintech Companies Revolutionizing Financial Services-2019 November2019

Innovator of the Month

Stephen Kalayjian Chief Marketing Strategist & Co-founder, Ticker Tocker

Desk Editor’s

Simplified than Before

Thefinanciallandscapeoftheworldhasbeen

changedevidently.Thewaypeopleusedtothink aboutmoney,banking,value-exchange,andcash flowhasbeenrevolutionized,allthankstotheultimate combinationofFinance&Technology(FinTech).Financial sectorisinthenewageoftransparencyandefficiency

Theimpactoftechnologyinfinancesectorcanbe witnessedthroughthechangesoccurredintraditional methodsofbanking.Previously,bankingwassomething thatwasconductedprimarilyofflineandpeoplewouldvisit theirlocalbanktotransferfunds,paybillsorconsultwitha bankeronvariousthingsregardingtheirpersonalfinances. Butnow,wecanseehowthistraditionalbankingsystem hasbeenevolved.Withoutsteppingouttobanks,people cannowaccesstheirbankaccountsthroughtheircomputers orphonesandconductanyactivityonlinethattheywould normallygotoabankfor.Similarly,theprocessof payments,lending,andtradinghavealsobecomemore simplifiedandefficientthanbefore.

Wheneveritcametoshoponline,peopleusedtofeartobuy goodsthere.Butnow,theyfinditsaferandsecuretogo onlinewithoutfearofbeingscammedorlosingmoney,as companieslikeStripeandPayPalaremakingiteasierfor peopletomakepurchaseswithoutfear.

Longstoryshort,basically,Fintechhasbeenrapidly penetratingthefinancialmarketsbyfillinginthegapsleft bytheexistingfinancialinstitutionsandthus,significantly improvingtheuserexperience.

Itisevidentthatchangesinthefinancesectorareproviding immensepossibilitiesforeconomicdevelopment.After understandingtheimportanceoffintechandhowit’s changingtheindustry,manybusinessesandindividualsare hugelyinvestinginit.

Thestudyestimatesthatoverthelastfiveyears,the FinTechsectorhasexplodedtoapointwhereitboastsof growingbya45percentannualgrowthmargin.Moreover, thefiguresfromCBInsightssuggeststhatthesectorgota whopping$13.7billioninfundinglastyearalone.From here,wecansaythattheFintechmarketisrapidly becomingmajorandmorecompetitive.Fintechcompanies aregenerallymoreflexible,havelowcosts,andaremore opentonewtechnologies.Theyseemtobetterunderstand humanbehaviorandhaveasuperiorvaluepropositionwith whichtheyareabletocreaterealmorevaluefortheir customers.

TakingthissignificanceofFinTechintoconsideration, InsightsSuccesshascuratedalistof“10Fintech CompaniesRevolutionizingFinancialServices-2019”, whoaremakingtheparadigmshiftfromtraditional businesssystemstoemergingfintechsolutions.

Also,makesuretoscrollthroughthearticleswrittenbyour editorialteamandCXOstandpointsofsomeoftheleading industryexpertstohaveabriefknowledgeofthesector.

Let’sstartreading!

FinTech is the next big thing that would shape the financial landscape of the world.

Hitesh Dhamani

Ticker Tocker

On a Mission to Empower Traders

RegisteredwiththeU.S.SecuritiesandExchange Commission,TickerTocker,LLCisanIntuitive TradingPlatformPoweredbyaCommunityof TradingLeaders.

Empoweringretailinvestorsandtraderstocompeteis TickerTocker’smission.TickerTockerwasdesignedto helpnovice,sophisticated,andinstitutionaltradersfind, test,learn,shareandexecutetradesinstocks,futuresand foreignexchange.

Sinceitsinception,TickerTockerhaswonnumerous ® awards,includingthreeStevies AmericanBusinessAwards forMostInnovativeTechCompanyoftheYear,Best FinTechSolution,andBestNewFinancialProductand ® Serviceinthe17thAnnualAmericanBusinessAwards . TheseawardsareindicativeofasimplefactthatTicker Tockeristhefutureoftrading.Withanovel,intuitive approachtoimprovingtrading,TickerTockeris revolutionizingthefintechindustrybyintroducingnew levelsoftechnologyandefficiency

Theseaccoladesarealsoaccompaniedbystrategic partnershipswithalmostalloftheindustries’leading exchangesandbrokersincluding:TheChicagoMercantile Exchange(CME),CQG,Inc.,InteractiveBrokers,TD Ameritrade,Tradier,FidelityInvestments,ATCBrokers, TradeStation,SageTrader,GarWood,MatrixEx,andmany more.

GroundbreakingProducts

TickerTockerprovidesmanydifferentproductsforthe manydifferentDNAsoftradersbycombiningsolutionsthat allowtraderstogetcontentthatmatchestheirlevelof expertise:

Intuitivesocialchartingtoolsprovidenovicetradersthe abilitytoeasilycopytradingleader’stradesinrealtimeto theirexistingbrokeraccounts.

Intermediatetraderscanutilizeaunique“TockerScore”to easilyvisualizetrendsandendchartoverload.ATocker Scoreisacustomizable,compositecalculationofindicators thathelpstradersidentifywhensignificanteventsoccurthat mightindicateupwardordownwardtrendsinmomentum. Advancedtraderscanutilizeadrag-and-dropcodeless algorithmcreatortodesignstrategiesinawaythat’seasyto understand,providesinstantvisualfeedback,requiresno coding,andofferschartingintegration.

Verifiedtradingleadershostlive-roomsessions,offeringa high-leveloftransparencyoftheirtradingstrategiesand providingtargetededucationfornoviceandadvanced tradersalike.

TheImmenselyExperiencedLeader

Withover35yearsofindustryexperiencetradingstocks, futures,commoditiesandcurrencies,StephenKalayjian,is theChiefMarketingStrategistandCo-founderofTicker Tocker.StephenbeganhiscareerattheAmericanStock Exchangein1983andmovedontoapositionattheNew YorkStockExchangein1984,whereheremaineduntil 1989.StephenalsoheldpositionsintheCOMEXdivision oftheNewYorkMercantileExchangeandattheChicago BoardofTrade.Stephentradedhisowncapitalandthatof variousfamilyofficesbecomingasuccessfuldaytrader

Revoluonizing Financial Services-2019

tradingasignificantamountofvolume.In2007,Stephen co-foundedafirmtoresearchanddeveloppredictive analyticsinordertoidentifytrends,reversals,patterns,and divergencesinthemarketplaceforallassetclassesandtime intervals.Stephenseekstogenerateshorttermandlong termtradeideasusinghispredictiveanalyticsthroughout theday.In2016,thecompanybuiltTickerTocker,an intuitivemarketplacetradingplatform.TickerTocker includesanordermanagementsystem,anAPIconnectedto multiplememberandtechnologyfirms,andapatented code-lessalgorithmbuilder AsaLeaderonTickerTocker, Stephenprovideseducation,strategies,marketcommentary, tradeideas,tradesignals,andalivetradingroomforhis subscribers.TickerTockerhascontractedwithBloomberg toofferanapplicationthatprovidespredictiveanalyticsto institutionaltradersthroughtheBloombergAppportal. Additionally,StevewillbehostingTickerTockerLive;a livestreamprogrambroadcastingeighthoursperday,five daysaweek,toteachtradinganalyticsandthepowerof predictiveanalyticsforgeneratingtradeideasinequities, futures,ETFs,commodities,andcurrencies.

ActiveTrading,theNeedoftheHour

Accordingtotheorganization,theglobalequitymarkets havebeenonahistoricrunleadinginvestorstoquestionif sophisticatedtradingtoolsarenecessarywhenthingsare “always going up”.Butaseveryoneknows,businesscycles areentirelyinevitable,andwhatgoesupmustgodown.To preserveandgrowwealth,activetradingiscrucialtotake advantageofallvolatilityinamarketwhetheritis occurringinbullishorbearishterritory

TickerTockeralsobelievesretailinvestorsandtradershave boughtintoa “set it and forget it” mentality.Passive investingandtradingtoolslikeETFs,newunsophisticated appssuchasWealthfront,andothermanagedportfolio serviceshavegivenafalsesenseof“security”beremoving whatusedtobeanintegralpartofthetradingecosystem,

Innovator of the Month

expertiseandunderstanding.Tocombatthistrendof complacency,TickerTockerprovidestoolsandexpert leaderadvicetoallowtraderstobeactiveparticipantsin trading.

ProvidingInstitutionalLevelTools

TickerTockerspecificallytargetsthetradingnicheinthe FinTechspace.Intrading,issuesplaguingtheindustry includeshrinkingcommissions,reducingretailvolume,and theriseofhighfrequencytradingcuttingintoretailtraders’ abilitytogenerateaprofit.

TickerTockeraddressestheseissuesbyproviding institutionalleveltoolsandexpertleaderadvicetotraders togivethemthecapabilitytotrademoreandtocompete withmoresophisticatedtradingoperations.

StandingTallfromtheCrowdandPlanningforaBetter Future TickerTockerstandsoutfromitscompetitorswithpatented technologydevelopedoveradecadeandwithpartnerships withmostmajorAmericanexchangesandbrokers.In addition,TickerTocker’sextensiveregulatorylicensing includingbeingaRIAgivesthecompanyanadvantageas themostheavilyregulatedplatformtooffersocialtrading servicesintheindustry

Whenitcomestothefuture,TickerTocker’sgoalistobe theleadingplatformforretailtradingforallmajorUS brokersandexchangesbytheendof2020.Futuregoals beyondthisincludeplannedexpansiontointernational marketsincludingLondon/Europe,Israel/MiddleEast,and Singapore/SouthEastAsiatonameafewplanned expansions.

TickerTocker provides access to a global network of trading Leaders to allow retail traders to gain insights through live trade ideas, live broadcasts, and verified Leader profiles.

Stephen Kalayjian Chief Markeng Strategist & Co-founder

Be Smart – or Vanish Why Utilities need to Actively Develop Smart Micro-Grids ?

Theenergymarketischanging rapidly.Thisistruenotonly fortheUSAandEuropebut onagloballevel.Possiblythemost importantchangeistheonetowards moredecentralizedsystems.Thisis challengingtheutilityindustry Utilitieshistoricallyhavedeveloped byintegratingsmallmicrogrids whichgrewaroundmillsandother small-scalegenerators(todaywe wouldsayprosumers).Thisiswhy utilitiesdevelopedalongtheentire valuechain:Theyintegratedthese microdistributiongridsinamore stablelarger(Transport)gridand replaceddecentralizedgenerationby morecost-efficientcentralpower plants.Thishighlyefficient centralizedsystemwasallowing industrialdevelopmentasweknow it.Atitstimeitwaspossiblytheonly waytoservelarge,stronglyenergy dependingproductionlikesteel, paperortheupcomingchemical industry.Thecentralizedenergy systemdidnotresultfroman oligopolisticmarket,buttheindustry structurederivedfromanefficient technicaldesign.

Thereareseveralreasonswhythis formerlybeneficiarysystemis challengedtoday.Notallapplyinall marketsbutsomeofthemdo,so decentralizationofenergymarketsis aglobaltrend.Specifically,inmost

industrialmarketsthenewenergy regimeisdrivenbypoliticsfavoring smallscale,decentralrenewable generation.Subsidiesonrenewables devalueexistinglargethermicpower plants.Evenlarge-scalehydropower plantsdonoteasilypassstrict environmentalandsocialfeasibility analysis.Butindependentofany politicalsettingthereisanothermore fundamentalreasonforthegrowing competitivenessofadecentralized energydesign.Whilethefirstphase ofindustrialdevelopmentisknown foritsindustrialclusters(often grownclosetoenergysourceslike coalorwater)whichshapedmany geographicareasformorethana century,laterphasesaremuchmore dynamicanddolessdependon geographicproximity Withina dynamicindustrysettingwhere businessesaresetupandclosedor movedsomewhereelseonaregular basisastaticcentralized infrastructurelosescompetitiveness. Inmanyemergingmarketsthis dynamismaswellexpandstowards thoseareaswhicharetodaynot connectedtothecentralgridbutoffer inexpensivelandornewagricultural productswhichcanbesoldabroadat highprices.Finally,thepoliticalwill andtheindustrialdemandfor decentralizedsystemstoday encounterrenewablegenerationeven atsmallsizeatcompetitivecosts

comparedtolargesizethermicpower plant.Forthemostprominent renewabletechnologyphotovoltaicin theNorth(withlessradiation)this competitivenessisgivenonlyasgrid parity,meaningcentralgeneration plustransportisasexpensiveas photovoltaiconsite.IntheSouthern hemispherephotovoltaicisalreadya competitivesourceempowering decentralizedenergyinfrastructure.

Whiledecentralizedgenerationhas caughtupwithcentralizedgeneration plants,distributionsystemswitha largeportionofdecentralized renewablegenerationcapacityare ofteninefficient.Therearebasically fourreasonsforthisinefficiency:(1) Missingpricemechanismsupporting gridoperations,(2)highcoststo operatesuchasystemstable,(3) largeamountofexcessenergy (exportedornotbeingusedatall) and(4)sub-utilizedinterface betweenmicrogridanditsfeeder system.Thesearebasicallythesame reasonsthatinthelastcentury supportedthecentralizationofthe gridsystem.Whatisneededisan intelligentorsmartdecentralized distributionsystem.

Anintelligentdistributionsystem withmainlydecentralizedgeneration requiresmorethansmartmetersand itisdifferentfromtodaypopularso

About the Author

Dr. Karl Kolmsee the CEO of Smart Hydro Power, studied agricultural and philosophy at the Universities of Hamburg and Goettingen, Germany. After his PhD he has spent most of his professional career in the energy business – first as consultant at A.T. Kearney later as manager at E.ON, Europe’s largest private utility, and member of the board at Schmack biogas, one of the pioneers of the biogas market in Europe. In 2009 Karl Kolmsee has been nominated professor for energy management at Applied University of Kufstein, Austria. His main areas of academic work are international energy markets and renewable energy. In 2010 he founded Smart Hydro Power to focus on design and commercialization of kinetic pico hydro power systems with main focus on rural electrification for emerging markets like India, Latin America and Eastern Africa. Today Smart Hydro Power offers complete solutions for off grid solutions and micro grids.

calledsmarthomeorhomestoragesolutions.Theseoffer photovoltaic,batteryandbasicloadmanagementforthe individualhousehold.Someprovidersofhomestorage solutionsintegratecustomersinacommunitymodelto allowexchangeofautogeneratedelectricity.Butthese communitiesarebarelymorethancontractpartners withinafixedpricenetmeteringmodel.Individualhome solutions–evenwithinsales-and-purchasecommunities –donotsolveanyinefficiencyissuesdecentralization faces.Thesesystemsareeithercompletelyself-sufficient –inthiscasetheyareexpensive–ortheyrelyoncentral gridserviceslikeaparasiteofitshost.Sustainable decentralizationrequiresanintelligentcontroland steeringmechanismbetweenthehouseholdswhichbuild amicrogrid.

Whiletherearepossiblydifferentsteeringmechanisms, establishingalocalmarketwiththepriceasvariablethat guidesdemandandsupplyaccordingtotheaggregated demandfunctionandtheaggregatedcostfunctions seemspromising.Technicallythisdoesrequirea dynamicforecastingandloadmanagement(atleastfor majorloadswhichareusedinaprice-sensitivemanner). Atfirstglanceamarketmodelwouldsolvethefour majorissuesshownabove.Itwouldsetapricefor photovoltaicandbatterystoragewhichwouldcontrol demandandtherebyreducenecessaryinstalledreserve storageandgenerationcapacity Thismechanismwould

aswellbeconsistentwiththefunctioningofthefeeder gridandcouldthereforesupplyitselfservicestothisgrid whichwouldbevaluedwiththesame“currency”.

Technicallythissteeringmechanismmightbe completelydecentralizedbasedonindividualprocessors ineachhouseholdliketheblockchaintechnology(once necessaryprocessingcapacitycomesdowntoacceptable limits)oritmightworkbetweenacentralunitand individualprocessors.Ineitherwayitsteersthelocal marketplacetowardsanefficientoptimumgiven generation,demandandbatterystoragecapacityata definedpointintime.

Microgridsdoopen(withinagivenlegalframework)a possibilityfortraditionalutilitiestore-definetheirrole usingsomeoftheirtraditionalstrengths.Butnew entrantscanequallywellenterthisspaceandperform wherevertheincumbentdoesnotadapt.Thisgivesroom tonumerousco-operationsbetweennewentrantsor betweennewcompaniesandtheincumbentofferingtheir servicesordevelopingnewbusinessmodelsalongthe valuechain.Incumbentutilitiesmaybesmart–or vanish.

Salmon Software

Delivering World-class Treasury Management System

Wheneveritcomestomanagingimportant financialoperations,businessesalwayscount onTreasuryManagementSystems(TMS). Takingitasaninspiration,anIrishsoftwarefirm,Salmon Softwareisprovidingworld-classTMSsolutionsforthree decades.Thecompanyoperatesitsinternational headquartersinDublin,Ireland,withitsCentralEuropean headquartersintheCzechRepublic.Itsblue-chipcustomer baseincludesAirbus,Arqiva,Avolon,Ryanair,Securitas, FQM,Traxys,CRH,Sercoandmanymore.

AOneStopShop

SalmonSoftwarehasachievedgreatsuccessandcoverage withitsflagshipproduct,SalmonTreasurer.Salmon Treasurerisaonestopshopforallaspectsoftreasuryand hasaverybroadrangeofFinancialInstrumentCoverage acrossseveralmarketsincluding,MoneyMarkets,Foreign Exchange,Debt,Derivatives,Facilities,TradeFinance, Commoditiesandothers.Itincorporatesunrivalledrich functionalityinCashManagement,AutomatedElectronic Payments,Forecasting,IntercompanyPositionKeeping, Multi-LateralandMulti-CurrencyIntercompanyNetting, RegulatoryReporting,InteractiveDashboards. Additionally,italsohasinboundandoutboundintegration withallmarketprovidersincludingbanks,ERPSystems, RatesVendors,TradingPlatformsetc.andprovides extendedtreasurymanagementfunctionalityenabling companiestocentralizeordecentralizetreasuryoperations andmanageunlimitedaccounts,facilities,books,funds, dealersandcompanies.

SalmonSoftwareisadisruptiveforceinthetreasury managementarenaduetoitsflagshipproduct.The company’sTMShasevolvedtoreflectthetechnological innovationandincreasinglycomplexglobalfinancial systemsmakingitoneofthemostsophisticatedtreasury toolsintheworld.Thecompanyhasthesamesystemfor cloudandon-premisedeployment.Beingsmallandagile, thecompanyhasnothird-partyinvestmentdilutingits focus.Itisthereforesingularlyfocusedonitsclientsand deliveringasolutionwhichrepresentsa100%fitto requirements.

Inaworld,wherearecentCitibanksurveyhasshownlarge dissatisfactionamongstTreasurerswiththeirTMS,Salmon hasnosuchcomplaints.Thecompanyoffers100%fitevery timeasithastheinstrumentcoverage,thefunctionality,the integrationservicesandmostofallthe“know-how”to deliverandimplementaTreasuryManagementSystem.

BlazingtheTrail

AneliteteamofSalmonSoftwareisledbyitsCEO,John Byrne.JohnisabusinessgraduateofUniversityCollege Dublin.PriortosettingupSalmonSoftware,in1985,John researchedthemarketsandcreatedINTUITION,thefirst CBTsystemonthemarket.Thiswasahugelysuccessful productanditsoffspringsystemisstillinusetoday.

Followingthat,hesetupSalmonSoftwarein1985andfor overthreedecadeshehasbeenastrongadvocateof independence,specializationandinnovationinthe applicationsideofTreasuryManagementSoftware.During

thistime,hehasledthedevelopmentandinnovationof SalmonTreasurertocontinuouslyincorporatenew technologyandnewideastomeetthedemandsofthe increasinglycomplexnatureofglobalfinancialmarkets.

Customer-centricApproach

SalmonSoftwarespendsalotoftimewiththeirpotential clientstoensurethatthereisnodisconnectbetweenwhat theyareexpectingfromtheirTMSandwhatthecompanyis expectedtodeliver. “We know the system and the client knows their data. Marry those 2 together and you will be guaranteed a successful outcome,” saysJohn.

NotonlydoesSalmonSoftwarelistentoitsclients,italso canvassesthemregularlytoensurethatthecompanyis developingthesystemtomeettheirneeds.Theygettohave asayandaninputintothecompany’sdevelopment roadmap.Afterall,theyaretheoneswhoknowwhatthey want.Ignorethematyourperil.

LeadingtheMarket

SalmonSoftwarehasbeenfirsttomarketwithanumberof innovativecreations.Forexample,ithasIntercompany PositionKeepingthatdoesn’trequirethenecessityto duplicatetransactionsbetweenentities.Thiseliminates50%

ofthedatarecording,eliminatesthenecessitytoreconcile positions,andenablesbothentitiestoseethesamedata fromopposingperspectives.Itisalsothefirsttointroduce functionalitytocaterforSONIAasitreplacesLIBOR.

Secondly,thecompanyoffersasinglesystemwhich encompassesallmarketsandthereforefitseasilyintoall businesssectors.Itiscompletelymodularandlicensed accordingtoneedwithasingulardeploymentmethodology anddevoidofanypotentialformulti-tenantriskbecause eachclientenjoystheirowndedicatedenvironmentand database.

Inordertobringefficiency,SalmonSoftwarefollowsall technologicaladvancesinthemarkettoupgradeitselfwith thevolatiletechnologicaladvancements.Itadoptsthosethat itfeelswillenhanceitssystemsandincorporatestheminto itsSalmonTreasurerapplicationimmediately.

ContinuouslyDeveloping

Whenaskedaboutfutureaspiration,SalmonSoftware intendstodevelopaccordingto3influences,which includesitsclients,technology,andthird-partysystems impactingontheTreasurycommunity

Afunctionally rich product supported by a longstanding, knowledgeable and professional team with a dedication to excellence and delivering solutions that clients expect.

John Byrne CEO

Atpresent,cybersecurityis playingavitalroleinthe digitalworldanditisalso knownasastandardtechnologyuse fortheprotectionofcyber environmentofanindividualorany organization.Itismainlyknownfor securityculturewhichincludesuser network,drives,softwareprocess, informationstorage,application securityandsystemsupportwhichis directlyorindirectlyconnectedtothe network.Theprimeobjectiveof cybersecurityistoreduce continuouslygrowingcyberrisksand cyberthreats.

Cybersecuritytechnologyconsistsof acollectionoftools,policies, securityconcepts,riskmanagement, actions,andtraining.Thetechnology tracksprotectednetworks,data securityfromdataattack,alongwith cybersecurityandphysicalsecurity. Thecorefunctionalityofcybersecurityisbasedontechniques involvedprotectinginformationand systemfromcyberthreats.

HowCyberSecuritycameinto Existence?

Aswiththehistory,cybersecurity hashugenetworkbackgroundwith itsownfindingsandtechnology aspects.Intheearly1990s,a researchoninformationsecurityand policywasbeenintroducedwhere informationwasintheformof accuracyandbasedonsystem awareness.Under2016survey,70% oftheorganizationsintheUSwere adoptedbyUSSecuritysurvey whichiscomprisedofNIFT (NationalInstituteofStandards andTechnology)

Cyber-securityframework.

OriginsofCyberSecurityPlatform

Cybersecurityisdefinedasa packageofsafetysolutionswhich providesmajorsecurityprocesses. Therearemanysectorswhichare consumingcybersecurityplatformas itsmajorfunctionalityforweb servicenetwork.Thefundamentals ofcybersecurityprocessare,

ApplicationSecurity

Information

Security

NetworkSecurity

OperationalSecurity

Applicationsecurityiscovered withtechnologythatmeasuresthe feasibilityoftheapplicationby finding,fixingandpreventing securityexposers.Thereare differenttechniqueswhichare beingusedassecurityplatformto emphasizesafetyatdifferent stagesoftheapplicationcycle. Applicationcycleincludes differentsegmentssuchasdesign, development,deployment, upgrade,andmaintenance.The standardofsecurityprocessis consequentlychangingand applicationcyclehasalsoa differentprocesswithdifferent standardization.

Techniquesusedinapplication securityaremainlyfocusedon itsexposeroftheapplication security. Whitebox security is usedforreviewingthesource codeandnoticingsecurityflaws oftheapplicationthrough manualfunctionality. Blackbox security auditisusedfortesting securityfunctionswheresource codeisnotneeded.

Ÿ

Design review isusedasan applicationofthreatmodel,and worksbeforethecodeiswritten. And Tooling isthetechnique whichincludesautomatedtools thattestsecurityflawswith higherpositiverate.

Informationsecurityisacore sourceofinformationwhichis confidential,integratedandeasily available.Theprimaryfocusof thissecurityprocessistothe stabledataprotectionwhile maintainingafocusonefficient policyapplication.Risk managementprocessisachieved byidentifyingassets,threat sources,andvulnerabilitiesandis alsofollowedbytheeffectiveness oftheriskmanagementplan.

Informationsecuritymainly worksonconfidentialinformation whichishighlyentitledtothe process.

Ÿ

Networksecuritysetsavariety ofcomputernetworks,usedin bothpublicandprivatesector.It alsoincludesconducting transactionsandbuild communicationsamong businesses,governmentagencies, andindividuals.Allnetworksare dividedintotwosections,private networkandpublicnetwork.

Privatenetworkingisused withinthecompanyandpublic networkaccessrelatestothe opensourcenetwork.This securitycultureishighly involvedinmostofthe companies,enterprises,andother typesofinstitutions.Itismainly usedforprotectingand overseeingtheoperations.The

networkresourceisrelativelyprotectedbyassigninga uniquenameandacorrespondingpassword.Theprocess isconcernedwithauthenticationofusernameand passwordwhichimplementsitssecurityconcept.

Ÿ

Operationalsecurityisaprocessthatidentifies informationwhichiscriticalandeasytodetermineby competitorintelligence.Itprotectsindividualpieceof datathatcouldbegroupedtogethertogiveaproper setofinformation.Itincludescriticalinformation essentialformilitarycommanders,seniorleaders,and highermanagement.Thewholeprocessalsoincludes technicalandnon-technicalmeasuressuchas,useof emailencryptionsoftware,takingprecautionsagainst spyingdataandsecuringconfidentialinformationnot tobesharedonsocialmediaplatform.

Operationalsecurityisafive-stepprocesswhich assistsanyorganizationtospecifyrequired information, Ÿ

Identificationofcriticalinformation Ÿ Analysisofthreats Ÿ AnalysisofVulnerabilities Ÿ AssessmentofRisk.

SecuringOrganizationProcesses

Cybersecurityprocessplaysacrucialroletoimpact informationsecurityoftheorganization.Italsoexplores the“RelationshipbetweenOrganizationCultureand InformationSecurityCulture”andcontributesintothe organization’sprotectionaswellasmaintainsallkindof information.Securityprocessisanever-endingprocess inwhichinformationisusedasaresourcetoolto managestatisticssecurityculture.

Thesecurityprocessservedfive-stepprocessesincluding pre-evaluation,strategicplanning,operativeplanning, andimplementation. The pre-evaluation process identifiestheawarenessofinformationsecuritywithin employeesintheorganization. Strategic Planning offers healthierawarenessprogramwheretargetgetssets accordingtothegroupingofpeople. Operative Planning providesgoodsecurityprocesswhichcanbeestablished basedoninternalcommunication,securityawareness, andatrainingprogram. Implementation isfourstage

processusedassecurityprocesstoimplement information.Theprocessisusedformanagement, communicationwithorganizationalmembers,and currentemployees.

EnhancingFuturewithCyberSecurity

CybersecurityisaggressivelycontributingtotheITfield concernedwithreducingorganization’sriskanddata break.Accordingtoresearchin2016,46%of organizationscarry“problematicshortage”ofcyber security,andisincreasedby28%comparedto2015. Also,government,commercialandnon-governmental organizationsusecybersecurityforbetterandsecure platform.

Thedemandforcybersecurityisincreasingrapidlyas professionalsecurityworkerinallindustriesare managingthevolumeofconsumerdataoffinance, healthcare,andretail.However,theuseoftheterm “cybersecurity”ismorepopularinallindustrialareas thatwillhelporganizationswithsecurityprocessculture.

Conclusion

Cybersecurityisequallyimportantforlocal,state,and centralgovernmentastheseorganizationsmaintainsa hugeamountofconfidentialdataandrecordsconcerning thecountryanditscitizens.Yettherearemany governmentandcommercialorganizationsthatface difficultiesinprotectingtheconfidentialdataduetolack ofinadequatesecuredinfrastructure,andlackofsecurity awareness.

SE2

Empowering Insurance with a Plaorm Led Eco-System Approach

SE2isthebest-in-classplatformdriven administrationservicesprovidertotheUSLife andAnnuityInsuranceIndustry

Wetransformourclient’soperationsbyleveragingour ® industryleadingSE2Aurum digitalplatformand capabilitiesallowingthemtoreduceandvariabilizebook ofbusinessadministrationcostswhilealsogainingthe abilitytorapidlylaunchnewproductsandpropositions intheUSL&Ainsurancemarket.

Carvedoutofa125+yearsoldlifeinsurancecompany, SE2isateamofinsuranceexperts,100%dedicatedto thelifeandannuityindustry,whojustlikeourclients liveandbreathelifeandannuityinsurance.

SE2recentlycompletedalargetransformationprogram thatsawtheinvestingoverUSD$80M+inmodernizing ® itsSE2Aurum platformtoopenupthearchitectureand buildacompleteecosystemthatprovidesitsclientsa bestofbreedoperatingmodeltoruntheiroperations, launchnewdigitalchannelsandinnovativeproducts,and engagetheirpolicyholders.Somerecentlylaunched solutionsequipsitsclientstobuildalaunchdirectto consumersolutionsaswellastoleapfrogintoproviding adigitalagebuyingexperienceforexistingchannels. SE2’smodelisshiftingtheindustryvaluecurveby harnessingmoderndigitaltechnologiesandcloudto provideabetter,moreefficientcustomerservice experienceatanoptimized,variablecostmodel.

TheManBehindthePlatform

VinodKachrooistheChiefInformationOfficerof SE2.Hisinfluencetowardstheindustrystemsfrom successdrivingtransformationeffortsonthecarrierside withcompanieslikeMetLife,AIG,andPrudentialand morerecentlywithSE2wherehespearheadedamassive three-yeardigitizationinitiativetocreatetheSE2 ®Aurum platformandtheindustry’sfirstfullyfunctional lifeandannuityAPI.Hisapproachfortheplatformwas basedona10x10strategy,whichrequiredtheplatform tosupport10xscaleandberelevantatleast10yearsout astechnologyevolves.Theaggressiveandfulfilling journeyresultedinclearbusinessoutcomesandcreation ofthefirstend-to-endLife&Annuitydigitalplatform withindustry-leadingdigitalarchitecture.

OneofVinod’smostgroundbreakinginnovations,made possiblebecauseofhisinitiative,wastheabilityfor insurancecarrierstoissuealifeinsurancepolicyand deliverittotheconsumersinapproximatelyfiveminutes aftertheapplicationisstartedasopposedtotheindustry averageofmorethan20days.Whilethereweremany immediateinnovativeresults,buttheplatformalsowas builtinawaysothatitcanevolveandaddnew functionalitiesastechnologycontinuestoevolve.For example,SE2iscreatinganAIengine,similarto Amazon’sAlexaorApple’sSiri,whichcanbeusedinan enterprisesetting.

Revoluonizing Financial Services-2019

DeliveringaFuture-ProofedDigitalPlatform

Purposebuiltforlifeandannuityinsurancecarriers, SE2’sindustryexpertssetouttoprovidetheindustry withthemostmodern,innovativetechnologyplatform andenhancedservicedeliverythatwillcreatean enhancedstakeholderexperiencethroughouttheentire policylifecycle.Today,SE2isthelargestadministrator ofvariableannuitiesintheUnitedStatesandoneofthe mostinnovativethird-partyadministrationand technologycompaniesservingtheNorthAmericanL&A insuranceindustry.AsSE2continuestohelpoptimize insuranceoperationstofuture-proofinsurance companies,itleadstheindustryininnovationsolutions forareassuchasRPA,blockchain,wearables,and machinelearning.Toachievethisleadershippositioning inthemarketplace,thecompanyhasundergonemany transformationsintermsoftechnologyenhancements, servicesenhancements,andworkforcedevelopment initiativesthathavehelpedsustainitsrapidand aggressivegrowth.

Accordingtothecompany,theirmissionistodelivera digitalplatformandafullyintegratedeco-systemthat enablestheindustrytobreakawayfromlegacysystem andprocesschallengestoembraceinnovation.SE2

enablesinsurerstonotjustbuildproductsinanondemandusagebasedmodelontheSE2AurumPlatform buttoofferadigitalagelifeinsurancebuyingexperience toAmericanconsumers.

TacklingChallengesandFutureRoadmap

AccordingtoSE2,acombinationofdemonstratedneed forlifeinsuranceinunderexploredmarketsandsegments andtheavailabilityofnewandsophisticateddigital technologiesisbringingcarriersmoreopportunitiesto growtheirbusinessesthaneverbefore.Organizations thatgetdigitaltransformationrightwillbeinaposition tomeetexistingandprospectivecustomers’expectations fortailoredproductsandservice,empoweragentstoearn consumertrustandconfidenceandputthemselvesina positiontomeetregulatory,economic,andmarket uncertaintiesnowandintothefuture.SE2intendsto focusongrowthandvaluecreationoverthenext36 monthswithasingularfocusondeliveringasuperior customerexperiencetothecarrierpartners,their distributionnetworkandtheendcustomer.Thefutureis brightforSE2astheycontinuetotransformthelifeand annuityinsuranceindustryandleapfrogcarriersintothe digitalage.

As customer expectations continue to increase and insurance carriers seek to deliver next-generation digital experiences and greater engagement levels for their distributors and endcustomers, SE2 is uniquely positioned to enable these owing to our industry ® leading SE2Aurum Digital Platform.

Vinod Kachroo Chief Informaon Officer

GrowthAspect

Entrepreneurship

Going Beyond the Comfort of Safety to Make Larger Impact

Entrepreneurshipistheprocess ofstartinganewbusinessthat addssomevaluetotheworld bysolvingsomespecificproblems. Entrepreneurshipisthecapacityand willingnesstodevelop,organizeand manageabusinessventurealongwith anyofitsrisksinordertomakea profit.Entrepreneurshipcombinedwith land,labor,naturalresourcesand capitalcanmakeaprofit.Thosewho createthesebusinessesarecalled entrepreneurs.Entrepreneurialspiritis characterizedbyinnovationandrisk takingandisanessentialpartofa nation’sabilitytosucceedinconstantly changingandincreasinglycompetitive globalmarketplace.

Entrepreneurshipinitstruestformis allaboutidentifyingagapinthe marketandcreatingaproductwhich canfillthathole.Entrepreneurshipis notsolelyaboutmakingmoney-itis alsoaboutchangingandenrichingthe livesforbetter.Itisaboutimproving people’slivesthroughcreationof productsorlaunchingservicesthat makesthelivesofpeopleeasy.Ifone’s businessdoesnotaddvaluetothelives ofpeoplethenitisunlikelytosurvive. Thebusinessthatmakesnothingbut moneycaneasilybeconsideredasa poorbusiness.

Entrepreneurshipistheactofbeingan entrepreneur.Entrepreneursactas managersandoverseethelaunchand growthofanenterprise.Itisaprocess bywhicheitheranindividualorateam identifiesabusinessopportunityand

acquiresanddeploysthenecessary toolsandresourcesrequiredforits utilization.

Entrepreneurshipisallaboutbeing readytogobeyondthecomfortzone.It isaboutdefiningsuccessonone’sown termsandachievingitbyone’sown processandmethodology.Itisalso aboutthinkingoutsidetheboxor thinkinglikethereisnobox.True entrepreneurialspiritisaboutseeing challengesasopportunities. Entrepreneursshouldbeabletoshake offdepression,lazinessandshould jumpintotheflowingstreamofhard workinordertoachievetheirdream. TrueEntrepreneursunderstandthat theycan’tbegreatateverythingthey do,buttheyknowthattheycanbe greatatsomething.Theyfocusonthat particularsomethinginwhichtheyare goodatwithlaserlikefocusandthey arepassionatetodeliverthebest solutionsintheirchosenwork.

Entrepreneurscreatesomethingnew, somethingdifferentthatsolvessome problemsoraddsvaluetotheworld. Anentrepreneurisapersonwhois willingandabletoconvertanewidea orinventionintoasuccessful innovation.Entrepreneurialjourneyis notalwayssoeasy.AsElonMusk quotes “Being an entrepreneur is like eating glass and staring into the abyss of death.” Manypeopleexperience entrepreneurialjourneyasa rollercoasterridefiledwithchallenges andopportunities;upsanddowns.

Entrepreneurshipisaboutperseverance

throughallsuchupsanddowns.The journeymaybefilledwithcrestand troughsbutthejourneyisworthtaking.

Entrepreneursunderstandthat seductionofsafetyismuchmore dangerousthantheperceptionofthe risk.Thereforetheytakecalculated risksbasedonmarkettrendsand marketestimation.Wherecommon peopleseetheproblemsentrepreneurs seetheopportunities.Entrepreneurs aredriventocreatesolutionstothose problems.Entrepreneursarenotthe partofproblemsbutentrepreneursare peoplewhowanttobepartofthe solutiontothoseproblems. Entrepreneursareinnatelyprogramme tocreatesolutionstotheexisting problems.

Entrepreneursrolluptheirsleeves everydayandworkhardtocreate solutionstotheexistingproblemsin theworldinordertomakeprofitas wellastoenrichthelivesofpeople. Theyareinthegametomakea differenceandimpactinthelivesof peoplethroughofferingsolutionsto someofthebiggestproblems.Money issecondarytothembutmaking valuablecontributionandaddingvalue totheworldiswhattheyfocuson. Theyunderstandthatmoneyisjusta byproductofservingasmanypeople aspossiblewithfullefficiency Entrepreneursplantheirworkand

worktheirplan.Successful entrepreneurshiprequires entrepreneurswhotakeconscious, systematic,logicalandthoughtful decisions.Itisaboutthinking deliberatelyandactingonthe conclusionoflogicalthoughtprocess. Greatentrepreneurshavetheabilityto thinkdecisivelyeveninindecisive environmentalso.Theirconscience andintuitionhelpsthemtocomeup withsomesolutionsthataddgloryto theirbusiness.Successful entrepreneursarealsoverycautiousof makinguseofthelatesttechnologyfor creatingmoreprofitablesolutions. Theyknowhowtoleverageeverything tocreategloriousbusinessthatadds valuetothelargerportionoftheworld.

Entrepreneursareheretomakea valuablecontributiontotheworld throughtheirwordsandworthy actions;theyjustdon’twanttooccupy thespaceintheuniverse.

Entrepreneursbelieveinmakingworld abetterplacebycreatingsomething thatcustomizesthelivesofpeoplefor better.Greatentrepreneurswalktheir talkandtalktheirwalk.Theirlipsand livesbothmakedifferenceinthelives ofpeople.Theyknowthatworld rewardsthosewhopresson.

Entrepreneurshipisaboutpayingthe priceofdedication,commitment,

sacrifices,hardworkandputtingheart andsoulintothebusinesstocreate somethingdifferentthatmakeslivesof peopleeasier Thewordsandactionsof greatentrepreneursshowthatthey knowwheretheyaregoingandthe worldhasthehabitofmakingroomfor suchpeople.

Entrepreneurshipisaboutknowingthe way,goingthewayandshowingthe way.Entrepreneursleadbyexample. Theyusealltheresourcestheyhaveto makelargercontributiontotheworld. Theythinkofchangingtheworld throughtheirskills,abilities,talents andmakingoptimumutilizationofall theresourcestheyhave.Entrepreneurs buildastrongnetworkofpeoplein theirorganization.Thegreat entrepreneursunderstandthatone’s networkdeterminesone’snetworth. Thereforetheychoosesmartand pragmaticpeoplearoundthemthatare havingtheabilitytocomeupwith solutionstosomeofthetoughest problems.Theyareverycautiousof peopletheyassociatewith.

Entrepreneurshipisaboutbuilding bridgesofsuccessinsteadofcreating barrierstoopportunity.Itisabout havingtalentedpeopleon-boardto comeupwithgreatideaandto implementthatideatomakeatangible differenceinthelivesofpeople.

Dave Gullo Co-founder & CTO VideoAmp

How VideoAmp Evolved the Company Culture and Process to Increase the Number of Engineers Employed

VideoAmpturns4yearsoldthismonth.Somany memories,andsomuchgrowth.Let’sreflecton someoftheworstdecisionsandassociated learningsthathavebeenfundamentaltoourgrowth.Why theworstyousay?Becausewhenyouaccelerateyour learningrateinafail-fastenvironment,itthenallowsyouto makefastdecisionsvs.theanalysisparalysispredicament.

Reflection

Oneofmyfavoritewildcardinterviewquestionsfor managersis:“Describethefailureyou’remostproudof.” Thissometimescatchespeopleoffguard,soI’llsharemine firsttogettheconversationgoing.Inevitablyitcomesdown tochoosingbecausetherearesomany.

Youcan’ttalkaboutgrowthandsuccesswithouttalking aboutthesefailures.Unlessyou’re somekindofhybridAIrobot-space-alienwho’sabsolutelyperfect,there’sgoingto bemistakes.What’simportantisthatasaleaderyouown yourmistakesandbetransparentaboutthem.

Hiring

Findingtherightpeopleisthesinglemostimportantaspect ofgrowingastartup.Thebiggestmistakesinhiringhave been:

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“Hiringoutofhand”,orshortcuttingthenormal processesbecausethecandidateiswellknownbyother engineersinthegroup.

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“Promotingoutofhand”isanothervariationof thiswhereyoudon’tputsomeonethroughthe normalduediligencebecausetheyalready present.Inourcase,individualcontributor(IC) engineersdon’tgothroughtherigorous referencechecksthatnewmanagersdo.

“Hiringunderduress”,orloweringyourbar simplytomeetheadcountgoals.Istrongly advisetohirefewer“full-fullstack”senior engineersvs.abunchofjuniorormid-level careerdeveloperswhorequiremoretime, nurturingandpreciousattentionunitsfromyour seniorstaff.

Process

Thisisamovingtarget,andonewhichhasdefinitelybeen anongoingseriesofblogs.Intheearlystage,we“over prescribedscrum.” Somethingthataveryearlystage companycando,alongwithtoomuchagileprocessestoo soon.

Forexample,prototypesandproofofconceptsshouldnot havearigorousdefinitionofdone,withendlessunit, functional,andend-to-endtestsbecausetheproduct’s requirementswillprobablyzig-zagwildly

Conversely,havingtoolittleprocesswhenyouare supportingenterprisecustomerscanalsobea problem.IspentmypriordaysasanICand

contractorretrofittingandscalingCI/CDpipelinesand trainingengineershowtowritebettertests.

Thechallengeisright-sizingthisallalongtheway,andthe triggerpointsonwhentochangemaynotbeobvious.Isay thisbecausewegrewheadcountby22engineersfromOct 2017toFeb2018,andintheprocesswedidnotmodifyour simplifiedKanbanapproachtoaprescribedScrumprocess quicklyenough.Growingpainsemerged,tosaytheleast. Nowwe’reinaspotwherewecanwithstandamagnitude scaleofgrowthwithroughlythesamesquadandtribe-level process.

Management

RiffingoffrapidgrowthofBrainsinengineering,wedidn’t scalemanagementfastenough.Almostallstartup engineeringorgsstartveryflat,withallICsandno management.Youhave“techleads”whomaysplittheir timedoinglightmanagerialfunctions,buttheyallwrite codeanddiveintotheoperations.

ThebiggestfailhereinscalingtheICswasnotscalingthe organdmanagementstructuretofollow At~44engineers anddatascientists,wehaveadutytodeliveronourmission toprovideanenvironmentwheretheyhavetheopportunity todothebestworkoftheirlivesandbeworthmoreinthe marketplace.

Withoutthisvitalmanagementstructure,thereisavacuum. Donotboltthisonlater,builditasyougo.Wetook inspirationfromSpotify’smodelofengineering organizationalscaling.

Growth&CareerPathing

We’vetalkedaboutallofthesefails,howaboutsomething thathasworkedwellforus?

Whendoinginitialcontactwithacandidate,Ioftenask “whyareyouinmarket?”Ihaveseencountlessfolkswho arelookingbecausetheircurrentmanagementdoesnot havetheirgrowthandcareerpathinginmind.Inextreme cases,theycandoaday’sworkinfourhours,feellikethey areunder-challenged,andhavenotlearnedanythingin years.TheyworkinanenvironmentlikethemovieOffice Space.

Takinganoppositeapproachistoengageinthegrowthand pathingofeveryindividual.Wedothisby:

Ÿ aligningthegrowthoftheindividualwiththe company’sgrowth.

Ÿ havingmanagementcheckinfrequentlyonthesuccess ofthis,and

Ÿ settingupformalquarterlycheck-insonmeasuring thesegoals. GoogleadoptedthisearlyonfromJohn DoerrintheformofOKRs,andtherearegreat platformsouttherewhichcanformallymeasureand tracktheseobjectives.

Careerpathingisalonger-termconcern.Iaskcandidates fromthestart“sowhat’sthenextjobafterVideoAmp?” Thisoftencatchesthemoffguard,thenaftercarefulthought mostreplywitharole1-2levelsbeyondwherethey’reat now.It’sourgoaltohelpsteertheminwhateverpaththey currentlysee.

Manyearlier-careerengineersthinkmanagementistheir ultimatepath,butIhavefoundthatmanywillstayona tractofengineeringexcellence.Whetherit’saPrincipal EngineeroraVPofEngineering,thegoalistoorientthe newchallengesinamannerwhichgrowstheminthat direction,evenifwecan’tfullyrealizetheirultimate pathinggoalwhileatthecompany.

Bypayingcarefulattentiontothesedetails,wehavefound ourannualretentionrateinthehigh90%.

VIPR

Helping the Insurance Industry Generate Powerful Data

Theinsuranceindustrysometimesmovesataslow

pacewhenitcomestotechnology Traditionally,it hasbeencommonpracticetousespreadsheetsto recordandmanagedata–amethodthatisnotonlytime consuming,butalsopronetoerror.Today,whilethe industryhasembracedtechnology,itisoftenthecasethat thesystemsuseddonotdeliverwhattheindustryneeds. Thisisparticularlyevidentwherethirdparties (Coverholders/Brokers/Agents)areappointedtounderwrite businessonbehalfofInsurers(calleddelegatedauthorities). Moreoftenthannotthesethirdpartiesreportbacktothe InsurersusingExcelspreadsheets,whichareofinconsistent structureandvariablequality Theresultisthatthedatais extremelydifficult,ifnotimpossible,toreconcileand interpret.

Thesolution?CueVIPR,aUKleadingsoftwareinsurance provider.VIPRspecializesindevelopingproductsthathelp theindustrygeneratepowerfuldata.Datathatultimately hasapurpose.Thecompanyfocusesontheend-to-end managementofdelegatedunderwriting,frominitialthird partyapprovalthroughtotheprovisionofrichmanagement information(MI),toensuretheindustrycanmakethebest businessdecisions.

Asadataandanalyticssolutionprovider,VIPRisnow wildlyrecognizedintheindustryforitsresults-drivensuite ofsoftwareproducts.Thisinfluencehasimpactedthe companiesever-growingclientbase,aswellasitsown th expansionasitcelebratesits10 Anniversary

SpecialistsinDelegatedAuthority

TheevolutionofVIPR’sproducts,largelystemfromits customers.Asacustomercentriccompany,VIPR

wholeheartedlyengageswithitsclients,bylisteningto themandshapingsoftwaresolutionsbasedontheirneeds. Themajorityoftheseclientsworkwithindelegated authoritybusiness,wheretheinsurerdevolvesauthorityto thirdpartiestoacceptriskandwritepoliciesontheirbehalf. Thiscreatesarequirementforvarioussoftwaresolutionsto managetherelationship,thedatacreated,i.e.policy information,andtoenablecomprehensivereportsthatcan capturemeaningfulMI,aswellasfacilitateregulatory reporting.

Furthermore,withlargeamountsofdisorganizedandnonstandardizeddatabeingreceivedbyinsurersitisalmost impossibletoanalyzeandreportonthisdatawithoutthe rightproducts.Workingwithitsclients,VIPRhasbeenable todevelopsolutionsthatresolvetheseissues.These include;

Ÿ Intarga, a third party workflow and management system, which provides a centralized process to allow underwriters to effectively control the approvals process, due diligence and monitoring, as well as audit and contract management.

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Intrali, VIPR’s best-selling spreadsheet management solution, allows underwriters to take total control of their data, quickly, accurately, and with the ability to capture quality MI, ultimately supporting business decisions. Intrali allows underwriters to consolidate multiple data formats into a single standardized output. The system also transforms and augments the data in addition to validating the data against the contract terms. This ensures that business is being written in accordance with the underlying contract. Once standardized, cleansed and validated the data is fed into

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the data warehouse where it can be fully reported on using VIPR’s Active Reports product.

Ÿ Active Reports provides over 50 out-of-the-box reports, with the facility to build further bespoke reports to turn the data captured by Intarga and Intrali into intelligent MI to support business decisions, as well as regulatory reporting.

FutureAmbitions

Asabusiness,VIPRtrulybelievesinthemantrathatthe customercomesfirstanditlookstoitsUserGroupevents todrivethedevelopmentofitsproducts.Lookingtowards thefutureandthenext10years,VIPRiscontinuingto focusonsolutionsthatenableitscustomerstounderstand andanalyzetheirdataandproduceintelligentreportsthat willhelpthemdrivetheirbusinessforwards.

Impressively,VIPR’slong-termambitionisworkingwith AItoremoveasmuchhumaninteractionaspossible, requiredtocleanseandanalyzedata.Thisincludesthe straightthroughprocessingofspreadsheetdatasothatit canbereceivedandreporteduponwithminimalhuman intervention.Thebenefitswillnotonlysaveonresource time,butwillalsoallowcarrierstofocustheirprecious timeonwhatmattersmost–deliveringvaluetothe business.

TheSkipper

RichardBrownisCo-founderandDirectorofVIPRwho hashelpedestablishthecompanyasaleadingproviderof datamanagementandanalyticssolutionswithintheLloyd’s ofLondonandwiderInternationalinsurancemarket. RichardisalsoaParliamentaryReviewMemberintheUK andfrequentlycommentsonindustrydevelopments.The ParliamentaryReviewisaUKpublicationwhichaimsto sharebestpracticeamongstpolicymakersandbusiness leadersandischairedbyLordPicklesandLordBlunkett. PriortofoundingVIPR,Richard,alongwithhisbrotherand VIPR’sCo-FounderBobBrown,successfullylaunchedand

subsequentlysoldMoneynet.co.uk,thefirstpersonal financecomparisonsiteintheUK.AtVIPRheoversees managementofthebusinessandisfullyinvolvedinclient relations,aswellasproductstrategyanddevelopment.

SatisfiedClients

“IhavenohesitationinrecommendingVIPR.Purelyforthe reasonthatthesolutionshavemetMRSL’sinitial expectations,butalsoprovidedscopeforustodevelop further.Initiallythesolutionsweretosupporttheneedsfor theDUAsectorofthecompanybuthaveinfactprovided theopportunitytobeincorporatedwithinourOpenMarket teams.Itgoeswithoutsayingthetechnicalexpertiseofthe peopleatVIPRhavebeenhugelyvitalanditisclearthe solutionsreflectthistoensureitdoeswhatitsaysonthetin, sotospeak!Thesupportthroughouttheinitial implementationandcontinualsupportreflectsagood standard,professional,friendlyandmostofallflexible. VIPRisreliable,professionalandinnovative,thecompany listenstoitsclientsandworkswiththemcollectivelyor independentlytohelpeachpartytobesuccessful.”

-Paula Duplock, Director of Compliance, Business Operations and Binder Management at Meridian Risk Solutions Ltd

“Wewantedtostandardiseandmoderniseourbureau processingcontrols,usingadigitaloptionthatwould processdataforallourUKandEuropeanoperations.VIPR wereveryresponsivetoourneeds,presentingexactlywhat weaskedforinourbrief.Theproductsareeasytouse, flexibleforourrequirementsandofferin-depthreporting capabilities,whichwillgreatlybenefitourbusiness.”

-Graham Hansen, Business Technology Solutions Manager at Tokio Marine HCC

Richard Brown Co-founder & Director

Should Businesses Adopt Blockchain Technology?

Centralizedsystemshavetreateduswellformany years,butifweseethevulnerabilities:moneyand dataisstoredinonespot,thismakeseasytargetfor maliciousactivity Whatifcentralbanksshutdownsorgoes throughsoftwareupgradeforwhateverreason?Itmayhalt theentiresystemandnobodywillbeabletoaccessthe informationitpossesses.Companiesarestartingtowork withBlockchaintechnology;someofthemareusingitin thefinancialsectorwhileothersaretryingtoimprovetheir bureaucraticsystems.

CountrieslikeSingapore,China,Canada,etc.aretryingto offeranationaldigitalcurrencybasedonBlockchain

technologyandsupportingtheinitiative.Theintentionisto providedecentralizedsolutionanddistributedledger technologyforfinancialmarketinfrastructures.Although thisdoesnotmeanthatthesecountrieswilloptforfullfledgedBlockchain,furtheranalysisofthesafetyand efficiencyofthistechnologyisneeded.

Oneofthemostinterestingandmisunderstoodconceptsin Blockchaintechnologyistransparency,somesayitgives youprivacywhileaccordingtofewitistransparent. However,thisleadstosomeconfusionabouthowprivacy andtransparencycaneffectivelycoexist.Inthisarticlewe willclearhowBlockchainbalancesthetwoconcepts.

Theidentityofauserisconcealedbehindpowerful cryptography(encryptinganddecrypting),meaningthat linkingpublicaddressestoprivateusersisdifficultto achieve.TransparencyofBlockchaincomesfromthefact thattheholdingsandtransactionsofeachpublicaddressare openforviewing.ItispossiblethroughExplorer,anonline blockchainbrowserwhichdisplaysthecontentof individualBitcoinblocks,transactionsandbalancesof addresses.

CryptocurrencyandBlockchainarestillrelativelynew technology;companiesarelikelytopickuptheright Blockchaintechnologyforthebusiness.Blockchain companies:SteemislikeYouTubeonBlockchainandhas attractedover920,000userswhopublishmorethan1.5 millionpostseachmonth.Steemhasalsopaidover$40 millioninitsdigitalassetvia(cryptocurrencyrewards)to contentcreators.Ripple,Intellectsoft,andCelsiusNetwork, aresomeofthecompaniestoday,assuredforsuccessand willbepopularsoon.

Withtheemergenceof cryptocurrencieslikeBitcoin, Blockchaintechnologyisdisrupting almostallmarkets,changingtheway wedoourdaytodaybusiness. Bitcoinsaredigitalcoinsyoucansend throughtheinternet,itssoftwareis completelyopensourceandyoucan tradeyourcurrencyexchangeswith dollars,eurosandmore.It’sverymuch stillanexperimentalcurrencyanda highriskforconsumersandinvestors, buttheBitcoindesignhasbeenthe inspirationforvariousother applications.

EffectivenessofBlockchain technologyinthefollowingareasin future:

SmartContracts-Themostcritical areawhereBlockchainhelpsisto guaranteethevalidityofatransaction throughsecurevalidationmechanism. Contractiswhereconsentoftheparties isinvolvedtoagreeandinteractwith eachother.Industriesandinstitutions areheavilyreliantoncontracts,suchas insurance,financialinstitutions,real estate,construction,entertainmentand law Asmartcontractcanformalizethe relationshipsbetweenpeople, institutionsandtheassetstheyown. Theyeliminatetheneedfortrusted thirdpartiesandareself-verifying, self-executingandTamperresistant.

Asmartcontractislikeacryptographic boxthatcontainsvalueandonly unlocksifcertainconditionsaremet. Onceinvolvedauthoritiesand companiesareonaBlockchain,a smartcontractcouldbeusedtodefine therulesofavaliddeal.

Supplychainmanagement-A Blockchainisadigitalized, decentralizedandincorruptiblepublic ledgerthatcantransformsupply chains,industriesandecosystems.The followingapplicationsarenowinuse orcanbeimplementedinsupplychain usingBlockchaintechnology:

Automotivesupplierpayments-Itis excitingtoseecryptocurrencyinthe automotiveindustry.Therearealso suppliersandwebsitesavailablefor buyingandsellingcarswithBitcoin, whichallowstransferoffunds anywhereintheworldwithoutthe needfortraditionalbanking transactions,astransactionsaremade directlybetweenpayerandpayee.Itis alsosecureandrapid,transfersalso incurlowerfees.However,buyinga carfromarandomindividualis consideredabitrisky

FoodTraceability-SatoshiNakamoto, inventorofBlockchaintechnology aimedincreatingdecentralizedledger leavingbehindopensourcesoftware thattheuserswouldbeabletoupdate andimprove.Companiescanuse distributedledgersystemstorecord productstatusateachstageof production.Astherecordsare permanentandimmutable,theymake itpossibletotraceeachproducttoits source.

Foodvolumessuchascoffee,tea,oils, sugarandbeansarealmostimpossible totrack.Blockchaintechnology enablesthetrackingoffoodpackages, byauniqueidentifiersuchasbarcode, QRcodeorRFIDtransmitter The benefitfromusingBlockchainisthat nocentralpartyneedstobetrustedin ordertooverlookthedata,whilestill allowingvolumestobetransparentfor everyoneinthechain.Anareaof concernwithinthefoodindustryisthat manyfoodproductsaresmalland inexpensive;thereisariskthat trackingofeverypackageandseedcan becomeexpensive.Blockchainenables integrationofsimplehardwareand cheapsoftwareandisideallysuitedfor managingtheprocess.

Supplychainshavealreadystarted usingBlockchaininsomeareasoftheir operationslikeelectricpowermicro gridsandcoldchainmonitoring.

However,transformationofsupply chainswillnothappenovernight,new doorsmayopentofastermore intelligentandmoresecureprocess throughouttheentiresupplychain.

Criticismsandchallenges:

Hugeelectricityrequired-Remember allthepowerrequiredtoverify transactionsdemandelectricity.In ordertounleashthepowerof Blockchaintechnology,computer scientistsneedtosolvethisbig problem.

SecurityabouttheprivatekeyPrivateKeymustremainsecretatall timesbecauserevealingittothethird partiesissameasgivingthemcontrols overBitcoinssecuredbythatkey.Also thekeymustbebackedupand protectedfromaccidentalloss,because ifitislostitcannotberecoveredand thefundssecuredbyitareforeverlost, too.

Extremelyvolatile-Decentralized Blockchaintechnologyandvirtual currenciesareextremelynewtothe market.FluctuatingpricesofBitcoin varyfromdaytodaybecause companies,investors,andgovernments adoptingornotadoptingthemgreatly affectthevolatility

Blockchainwillbeanimportantpartof ourfinancialandtechnologicaldigital future.Itisoneoftheincredibly creativeinventionsthattechnologyhas everseen.Sohowweuseitisuptous. Somecompaniessuchas Overstock.comandTelsahavealready startedacceptingvirtualcurrencies. However,itisstillnotapparentwhat theretailleaderslikeAmazonand eBaywoulddowiththe cryptocurrencyacceptance.Butifthey startacceptingthenitcouldindeed transformtheglobalscenario.