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Novidea research signals insurtech sea change
Seventy-five percent of Insurance organizations worldwide are preparing to implement new core insurance management platforms in the next two years. That’s one of the key findings in a comprehensive new report commissioned by Novidea, creator of the cloud-based, data-driven insurance management platform for brokers, agents, MGAs/MGUs, carriers, and wholesalers. The report, Legacy Out, Digitalization In: The State of Modern Insurance Technologies 2024, is based on data collected in a 2023 survey of 330 full-time, C-level insurance leaders across eight countries. The research underscores the struggle insurance organizations face with aging, disparate technology that is difficult to manage, scale, and leverage to meet digital transformation needs. The average organization manages six different insurance technology systems, and the average age of these systems is five years or older. Further, these leaders need help adequately training their employees to extract the most value from their technology systems, especially when staff work remotely. “The data shows that insurance leaders are ready to make future-forward decisions about the technological shift required to better meet customers’ expectations of a modern, digital-first experience. As the survey shows, there is a clear acknowledgment that current systems are aging, disconnected, and do not support today’s digital demands,” said Roi Agababa, CEO of Novidea. “At the same time, leaders are optimistic about the future and will be taking steps to make significant upgrades to their legacy tech stacks. They understand the challenges and opportunities at stake. That is encouraging news as the insurance industry heads into 2024.” To gain greater insight into technology usage for insurance providers, Novidea commissioned an international survey of C-level insurance employees, including CEOs, CTOs, CIOs, CFOs, and COOs. Respondents make business decisions for insurance brokers, agencies, and MGAs. Countries included in the research include the United States, the United Kingdom, Singapore, France, Germany, Italy, Spain, and Australia. Key data points from the report include: 76 percent of enterprise insurance organizations with more than 5k employees are juggling between 6 and 10 insurance technologies or more. 41 percent of insurance agency/broker management platforms and policy administration systems were implemented 5 to 15 years ago. Of the surprising 99% of global insurance organizations who said they have plans in place to change their core technology systems, 41% indicated that this upgrade will happen in the next 12 months. Another 34% said they will make technology changes by 2025. In the highly regulated insurance market of the U.S., fewer than 25% of enterprise insurance organizations feel their existing technology supports them with compliance, and 77% said it only helps them “some of the time.” When asked to identify their top challenges with their current technology systems, insurance leaders cited issues with data quality (41%), data privacy and security (35%), and scale (35%). CEOs, in particular, were more concerned about the ability to scale, with 50% citing scale as a top challenge, compared with 33% for the rest of the C-suite.
New data shows Singapore’s importance to cross-border payments industry
FXC Intelligence published a deep dive report mapping Singapore’s payments players by analysing the licences obtained by companies from the Monetary Authority of Singapore (MAS). At the time of writing the report, FXC Intelligence found that the MAS currently lists 15 companies with SPI (Standard Payment Institution) licences and 207 with MPI (Major Payment Institution) licences, although only 201 of these appear to be active. 93% of MPI licence holders have a cross-border money transfer licence, while just 40% of SPI licence holders do. This is largely because SPI licences are more popular with smaller, domestic-only companies. The report found that 90 of the larger international cross-border players now hold MPI or SPI licences to operate in Singapore. The majority of these companies are MPI holders, with only 3 holding an SPI licence, including remittances major MoneyGram. Lucy Ingham, Head of Content and Editor-in-Chief at FXC Intelligence said: “Looking at these findings, it is clear that Singapore has really grown as a major global city for the cross-border payments industry. “Singapore’s popularity with 90 of the world’s key cross-border payments players underpins its importance as a gateway to serve the rapidly emerging Southeast Asia market, as well as its position as a hub for a highly skilled international workforce with a drive for innovation. “Over the next few years, we expect to see companies of all shapes and sizes looking to secure a cross-border payments licence in Singapore whilst more and more international players are attracted to the city. ” Less than half of licence holders in Singapore also hold a domestic money transfer licence, while just under a third hold merchant acquisition service or account issuance licences. Less than a quarter hold e-money issuance service or money-changing service licences. Digital payment token service licences, which are required for cryptocurrency-related activities, are the least common type held by MPI licence holders.
Croatia identified as the lowest cost remittance market of 2023
FXC Intelligence identified Croatia as the lowest-cost market to receive remittances globally in 2023. This was because Croatia joined the euro at the start of 2023, resulting in the cost to send money into the country dropping by more than half. With most remittances into Croatia coming from inside the eurozone, FX margins for most remittance flows into the country dropped to 0% and with stable transfer fees for all corridors globally, Croatia became the lowest-cost remittance market. The lack of FX margins in countries where remittances were received, in either the same currency as the send currency or in a non-local currency, was a key factor for many of the lowest-cost remittance destinations in 2023. For example, El Salvador ranked highly as a low-cost market due to most flows into the country being sent USD to USD. Similarly, Romania was found to be a low-cost market due to around half of the services tracked to Romania having EUR as the receiving currency, instead of RON. In some cases, geopolitical developments can also impact pricing. For example, Ukraine saw a drop in 2022 largely due to the impact of promotional pricing change as companies sought to show their support in the wake of Russia’s invasion by waiving fees. By 2023, the number of companies waiving fees had dropped, which prompted an increase in average pricing. Despite this, Ukraine is still placed as the 18th lowest-cost destination for remittances. Cameron Graham, Head of Platform Products at FXC Intelligence, said: “It was possible to identify the lowest-cost remittance markets in 2023 through FXC Intelligence’s consumer remittance pricing dataset, which tracks live and historic pricing for around 700 providers and across more than 110 countries. “FXC Intelligence will continue to track the lowest-cost remittance markets over the coming year as changes to FX margins and geopolitical developments can greatly affect which countries cost the least to send remittances to.” To see the full list of the lowest-cost consumer remittance destinations in 2023, click here. https://www.fxcintel.com/research/analysis/worlds-lowest-cost-remittance-markets-2023
15 predictions for the cross-border payments industry in 2024
FXC Intelligence has published its predictions for the cross border payments industry in 2024. While 2023 was a significant year of change, following the economic and geopolitical downturn of 2022, 2024 is set to be a year of evolution for cross-border payments. Over the next year, we are set to see the global payments landscape shift and develop in response to factors that have long been in motion. In total, FXC intelligence provides 15 key predictions that fit into three main categories: geopolitical and social trends; technological advances; and industry evolution. Geopolitical and social trends Expect to see an increased focus on transparency, alongside greater cross-border integration of country-level payment systems; further de-dollarisation; more small businesses operating internationally; and the beginnings of a reckoning with the industry’s environmental impact. Technological advances Expect to see a continued focus on faster payments, alongside novel avenues for payment processing; the use of generative AI; growing geographic adoption of QR codes; and some key announcements on CBDCs. Industry evolution Expect to see focus on consolidation and spinoffs rather than IPOs; a fightback from banking on B2B payments; significant growth in B2B ecommerce; a sense of the long-term strategy for remittances; and the rise of cross-border gifting as an alternative to classic remittances. Lucy Ingham, Head of Content and Editor-in-Chief at FXC Intelligence said: “2023 was a significant year for the cross-border payments industry as it continues to mature and evolve. As we enter 2024, the industry is bigger and more complex than ever before, but faces exciting and unprecedented opportunities across geopolitical and social trends, technological strides and pivotal industry transformations. “FXC Intelligence is especially interested in monitoring the impact of the G20’s Roadmap for enhancing cross-border payments, as it provided much of the benchmarking data published by the Financial Stability Board. The data showed that the industry has some way to go to reduce costs, increase speed and increase access, so we expect the industry to place a renewed focus on operating with insight and transparency.” To see the 15 predictions for cross-border payments in 2024 in full, read the FXC Intelligence report here. More information FXC Intelligence is the industry leader in cross-border payments data and intelligence. Our data is used by a number of international bodies, including the World Bank and the Financial Stability Board. The world's biggest banks, payments and big tech companies use our critical data to make vital decisions that shape their day-to-day operations, product development and strategy. We track pricing, market size and product changes as they happen and update our dataset at high frequency, giving our clients the competitive edge they need to stay on top in a rapidly changing market. Our platform, which is built on top of our data, offers solutions such as price engines and sales enablement tools to drive our clients’ growth and profit. Our data gives us a unique understanding of cross-border payments and we share our analysis and insights every week with subscribers to our newsletter, the most widely read in the cross-border payments market globally. Interested and want to find out more? Sign up to our newsletter here.
Office demand expected to remain stable in the future as office utilization rates pick up along with a gradual increase in attendance
According to the “2023 Korea Office Occupier Sentiment Survey” released on December 11 by CBRE Korea, the global real estate service company, it was found that more than 40% of companies worldwide are seeking to increase the rate of employees working from the office and office utilization among Korean-based respondents was found to be approximately 70%, the highest among major countries around the word. Also, as half of respondents in both Asia Pacific and Korea noted that they had already fully returned to office-based work, about 40% of domestic respondents expect office utilization to increase from current levels. The rapid return to the office has boosted leasing demand over the past year, with vacancy falling in Seoul's Grade A office market and it is analyzed that occupiers are focusing on lease renewals amid ongoing uncertainty such as a potential global economic downturn and continued high interest rates. More than 90% of all respondents were found to have already decided or are planning to remain in their existing office. Amid concerns about a slowdown in corporate growth due to slower global economic momentum witnessed since last year, demand for office expansion from tenants in Seoul’s Grade A office market has increased compared to previous years. This year’s survey found that 61% of respondents stated that they plan to expand their office space over the next three years, with approximately 10% stating that they plan to expand their floor area by more than 30%, indicating a change in strategy. Claire Choi, director of CBRE Research Korea, explained, “The Seoul Grade A office market is expected to see solid office demand for the foreseeable future as employees return to the office and companies gear up for expansion. Several major upcoming redevelopment projects scheduled to be completed after 2026, mainly in the CBD, will somewhat alleviate the supply and demand imbalance in the mid to long term”. Three-quarters of cumulative leasing transaction volume in Seoul in Q3 2023 involved flight-to-quality relocation and strong demand for office building upgrades was uncovered, with domestic companies such as finance and manufacturing firms the main sources of demand. In addition, factors that tenants consider most important when making office leasing decisions were found to be accessibility to public transportation (82%), followed by shared meeting space (77%) and onsite F&B (68%). With reducing greenhouse gas emissions now an urgent priority, the importance of sustainable or green real estate is increasing, resulting in 64% of respondents saying that would lease more green office space over the next three years. Increasing interest in green buildings that meet ESG standards was also seen. As a result, flight-to-green is becoming the norm, and 70% of respondents said that they wanted green buildings to provide data relating to energy use and waste treatment, while a majority stated that they wanted information relating to carbon emissions. Lastly, there has been a notable shift in workplace strategies. Although half of the respondents are currently using fixed seats, the adoption of flexible seating arrangements is also gradually gaining traction in Korea as respondents expect flexible seating to increase to 90% by 2025, as well as activity-based working to 40%.
Kordsa to provide services to FACC with its fire resistant and sustainable product portfolio
Continuing its steadfast growth in composite technologies with a vision to be one of the world's leading advanced material companies, Kordsa is reinforcing its global footprint in the aviation industry. Already leaving its mark on two out of every three aircraft with its tire reinforcement business, Kordsa has now signed a significant commercial collaboration agreement with FACC in the field of composite technologies. The long-term agreement covers the processes related to the supply of flame retardant epoxy-based products specially produced by Kordsa for use in the cabin interior components to FACC. REVOLUTIONARY FOR EMPLOYEE HEALTH WITH ITS EPOXY BASE The products offered by Kordsa to FACC stand out for their advanced technology and leading role in sustainability. Pioneering the transition from phenolic-based volatile chemicals to flame retardant epoxy-based chemicals in cabin interiors, the product prevents the emergence of harmful substances throughout various processes, from raw material production to the development of final components, marking a revolutionary development towards employee health. The products also provide a significant cost and supply advantage by streamlining operational product development processes. In addition, the products demonstrate a high performance in one of the aviation industry's most critical and challenging criteria—flammability—ensuring the highest level of passenger safety in potential fire-related incidents or accidents. CONTRIBUTING TO THE SUSTAINABLE TRANSFORMATION OF THE AVIATION INDUSTRY Defining the agreement as a strong indication of Kordsa's high technological competence and comprehensive sustainability approach, Kordsa CEO İbrahim Özgür Yıldırım remarked: “The path for Kordsa to become one of the world's leading companies in advanced materials involves seeing sustainability as a business model. The vision we describe as 'Reinforcing Life' is not just a narrative summarizing Kordsa's development; it is a journey indicating Kordsa's contribution to the world, humanity, and the ecosystem. We are delighted to reinforce this journey with sustainability-focused products, which have the power to transform entire ecosystems.” Müge Yenmez, the Chief Operating Officer for Kordsa's EMEA Composite, who pointed out that products developed by Kordsa will contribute to the fire resistance and sustainability of the cabin interior parts of aircraft, further stated: “By working effectively with our customers to reinforce life, we are rapidly moving towards our goal of a sustainable world with the technologies we have developed in the field of composites."
PRYSMIAN GROUP ANNOUNCES NEW ORGANIZATIONAL STRUCTURE TO BOOST GROWTH
Following the “Connect to Lead” strategy presented at the Capital Markets Day held last October 5th, Prysmian Group announces its new organizational structure to allow the group to pursue its mid-term ambitions and to sustain the long term leadership. Leveraging on the management continuity and valuing the succession planning pipeline, the designated CEO Massimo Battaini reshaped the leadership team to better capture market trends (energy transition, electrification and digital transformation), strengthen customers focus while unleashing the best talents in the Group, increasing at the same time the international profile as well as the gender balance in the top management. Starting from January 1st 2024, four new business segments will be in place: Transmission, Power Grids, Electrification and Digital Solutions, led by: · Transmission: Hakan Ozmen · Power Grids: Cinzia Farisè · Electrification: Cristiana Scelza · Digital Solutions: Frederick Persson The Group matrix organization will continue to stay in place to guarantee the company ability to be very close to the local markets and customers (through regions and countries) while reinforcing the continental and global synergies, acting as a major partner through the business segments. A strong focus on the “one company governance” will be assured by the Group functions. With regards to the Group 9 Regions, changes in leadership will regard: · Central East Europe where Sezgin Islamoglu will become CEO of the Region; · Middle East, Turkey, India, Africa and Russia, where Erkan Aydogdu will lead the Region being also appointed CEO of OCI Group, listed on the Muscat Stock Exchange; · Oceania and South Est Asia, where Hamavand Shroff will be appointed CEO of the Region; · Latin America, where Raul Gil will take over the responsibility of the Region. The leadership of the other regions will remain unchanged In addition, at Corporate level, Maria Cristina Bifulco will be promoted Chief Investor Relations, Sustainability and Communication Officer. “Good, authentic and passionate people make the difference and build companies solid and successful” said Valerio Battista; “we can count on a very strong pipeline of talents which will make our growth very sustainable and our company even a more sound and strong community”. “I am confident that the new organization will allow our group to better capture market trends, be closer to our customers, promote talent and nurture an inclusive and international leadership team which will allow us to meet our ambitions”, commented Massimo Battaini.
IdentiFlight Enters French Energy Market as e3 IDF GmbH Announces New Office in Nantes
e3 IDF GmbH and IdentiFlight announce the launch of e3 IdentiFlight France in the Nantes area, reinforcing IdentiFlight’s global presence and commitment to the French market. The French office offers expertise in renewable energy project development and the IdentiFlight product – the industry leader in avian species detection technology for wind farm applications. Recognized in 2023 by French Authorities for its effectiveness in reducing red kite fatalities in wind farms, IdentiFlight combines AI and high-precision optics to identify bird species and prevent collisions with wind turbine blades. Jens Schoettler, CEO of e3 IDF GmbH, emphasized, "The demand for wind energy is continuously rising. The expansion of e3 offices into France will enable us to meet the increasing need for avian detection and protection across Europe." Leading the e3 IdentiFlight France office is Yoann Payelleville, a 20-year veteran in the wind energy sector. His extensive experience in engineering and sales at Enercon equips him with a deep understanding of the French wind energy market. Don Mills, President and Chief Operating Officer of IdentiFlight, expressed his excitement about the expansion, stating, "We are thrilled that the e3 IdentiFlight France office will provide greater accessibility to technology that offers maximum avian protection while maximizing wind energy generation. This partnership expansion with e3 will enhance our ability to serve the French market.” The e3 IdentiFlight France office will be recruiting new positions to help meet the growing French market demand for IdentiFlight technology. To learn more about employment opportunities, please visit the e3 website or email email@example.com
AOC Introduces the T3 Series: The Ultimate Portable Monitor for Work Mode Freedom
AOC, a leading provider of high-quality display solutions, is thrilled to announce the launch of the AOC 16T3E, a revolutionary portable monitor from AOC's T3 series designed to provide users with unparalleled work mode freedom. This portable monitor is set to redefine the way professionals work on the go with its exceptional features and versatile design, including crisp visuals from the Full HD IPS panel, powerful connectivity from USB-C, and adaptable convenience from the dual function stand. In addition, the 16T3E also comes with a convenient carry bag, making it easy to transport and protect your monitor while on the move. Its lightweight design and slim profile further enhance its portability, allowing you to take your work mode freedom with you wherever you go. AOC 16T3E Portable Monitor "With the AOC 16T3E, we wanted to create a product that empowers professionals to work anytime, anywhere, without compromising on productivity or visual quality," said Kevin WU, General Manager of MMD Singapore. "We believe that work mode freedom is essential in today's fast-paced world, and the 16T3E is the perfect solution for those who need a portable monitor that delivers exceptional performance and versatility." Crisp Visuals for Immersive Productivity The AOC 16T3E boasts a stunning Full HD display with IPS technology, offering a wide 170/170 degree viewing angle that ensures crystal-clear visuals from any perspective. Whether you're working on detailed spreadsheets, editing multimedia content, or simply enjoying your favorite movies, the 16T3E delivers an immersive viewing experience like no other. Adaptable Convenience to Suit Any Work Environment One of the standout features of the 16T3E is its dual function stand, which allows users to set up the monitor in various scenarios that perfectly fit their work environment. In addition, you can equip the 16T3E with a VESA Mount to enhance your wall or multi-monitor desk setup. Whether you prefer a traditional desktop setup or need a second screen for presentations on the go, the 16T3E adapts effortlessly to your needs, providing the ultimate flexibility and convenience. Powerful One Cable USB-C Connection In addition to its impressive display and flexible stand, the AOC 16T3E features USB-C connection, the simplest yet most powerful form of connectivity for any modern device. With 3-in-1 functionality, USB-C sets itself apart by allowing for the delivery of power, data, and display signals, all from one single cable. Whether you're using a laptop, tablet, or smartphone, the 16T3E can easily be connected, allowing you to extend you screen real estate and boost your productivity wherever you are. The AOC 16T3E is now available for purchase in APMEA. For more information about the product, please visit ap.aoc.com
DART and OffSec Emerges with Partnership to Advance Cybersecurity Landscape
DART and OffSec (formerly Offensive Security) have officially revealed today its joint strategic partnership to enhance and elevate cybersecurity talents. DART, who excels in cyber capacity building and customized training programs, is now a certified training partner of OffSec, and is offering OffSec's certificates to organizations as part of DART's training programs. DART greatly contributes to the bolstering of cyber resilience in nations, governments, and organizations. By leveraging a pool of over 60 field-proven expert trainers, DART adopts a visionary approach to cybersecurity training that seamlessly aligns with OffSec's commitment to empowering individuals with practical cybersecurity skills. Together, these two organizations aim to revolutionize the skill sets and expertise of cybersecurity professionals, equipping them to effectively combat and defend against sophisticated cyber threats. Central to DART's mission is its unwavering commitment to enhancing cybersecurity capacity for organizations, having successfully trained over 1500 cyber professionals through customized training courses. Leveraging the collective expertise of its experienced trainers from elite cyber intelligence units, DART provides combat-proven courses that bridge skill gaps, enhance expertise, and elevate the overall proficiency of cyber professionals. DART will kick off the partnership as a certified training partner by adding the option to achieve OffSec's OSCP certificate alongside the tailored instructor-led bootcamp, aimed to maximise learning credentials for a target group of penetration testers, red teamers, as well as other cybersecurity professionals. With this, DART's training programs focus on providing participants with real-world cyber training experience and comprehensive essential cybersecurity knowledge while obtaining an important industry-recognized credential. The training programs can be completely tailored by DART to meet the specific cyber training requirements and needs of client organizations. Through the customized bootcamp program, the extensive real-life training delivered by DART helps equip participants with the best cybersecurity guidelines and provide them with the right foundation to become qualified OSCP holders with ease. Matan Trogan, Head of Sales and Partnerships at DART, emphasized the partnership's significance, stating, "Embedding OffSec certificates into our training is strong evidence for DART's unique capability to effectively train cyber professionals with real-life scenarios, while preparing and equipping them with industry-leading standard certificates such as OSCP. By combining DART's domain expertise with OffSec's renowned training modules, we are empowering professionals to proactively defend against cyber threats. Together, we are not just imparting knowledge; we are cultivating a culture of resilience." Dr. David Zhao, APAC Sales Leader at OffSec, shared the enthusiasm, stating, "We are thrilled to partner with DART to provide high-quality live technical courses to learners in APAC. We are confident that DART's deep level of technical education expertise, highly qualified trainers and regional network across Singapore and the wider APAC region makes it a well-placed partner to offer OffSec training courses." Amidst the escalating complexity and frequency of cybersecurity threats and attacks, the synergy between DART and OffSec stands as a compelling testament to the power of joining forces to fortify digital defences and to accelerate cyber workforce resilience. The partnership will offer the best hands-on, extensive cybersecurity training courses led by qualified trainers to industry-wide trainees, and deliver a combat-proven approach to elevate cybersecurity competency in the face of an ever-changing cyber threat landscape. If you are looking to build your organization's cyber capacity or to prepare your team for OSCP certificates, visit DART's website at www.dart.com.sg For inquiries and partnership opportunities, please email firstname.lastname@example.org
Chien Chi Tow Healthcare Clinches Prestigious Heritage Enterprise Award 2023, Honouring 54 Years Of Excellence In Tradtional Chinese Medicine
Chien Chi Tow Healthcare Pte Ltd, a venerable institution with a rich 54-year history in Traditional Chinese Medicine (TCM), proudly announces its receipt as the only esteemed Heritage Enterprise Award 2023 winner. This accolade serves as a testament to Chien Chi Tow's enduring commitment to preserving and advancing the heritage of TCM in Singapore. The Singapore Heartland Enterprise Star Award - in the Heritage Enterprise Award category, renowned for recognizing organisations that have significantly contributed to the cultural fabric of Singapore, has bestowed this honour upon Chien Chi Tow Healthcare Pte Ltd in acknowledgment of its pivotal role in promoting and safeguarding the traditions of TCM. A Legacy of Excellence in Traditional Chinese Medicine Since its establishment in 1969, Chien Chi Tow Healthcare Pte Ltd has been an unwavering advocate for the principles and practices of Traditional Chinese Medicine. Over the past 54 years, the company has become synonymous with quality herbal remedies, holistic wellness, and a deep-rooted connection to Singapore's cultural heritage. Ms. Yen Lim, the visionary 2nd-generation leader who had understudied her father and founder Master Lim Choon Huat of Chien Chi Tow Healthcare Pte Ltd, expressed her gratitude for the recognition, stating, "Being conferred the Heritage Enterprise Award is not just an honour, but also an affirmation what our 54 years of practice has culminated into - a TCM healthcare provider that is beloved in Singapore. It is a sign of trust from our community that we have been, and will still continue to be part of their TCM healthcare and wellness journey. A very big thank you to everyone who has supported us, past and present - we could not have done it without you!" Tying Heritage to Innovation The Heritage Enterprise Award 2023 not only acknowledges Chien Chi Tow's historical contributions to TCM but also highlights the company's continuous efforts to innovate within the realm of Traditional Chinese Medicine. Through a combination of time-honoured practices and cutting-edge approaches, Chien Chi Tow Healthcare Pte Ltd has remained at the forefront of providing holistic healthcare & wellness solutions that resonate with a modern audience. "Ten years ago, Chien Chi Tow won two awards from the Singapore Heartland Enterprise Star Award. The first award was the Best Marketer Award, and the second award was the Best Visual Merchandising Award. Fast forward ten years to today, we won the Heritage Enterprise Award. These dazzling achievements could not have happened without the support and encouragement of our community, the pioneering innovation and enterprising spirit of all our colleagues, past and present. I hope that everyone will continue to give their very best, move forward courageously, and carve out a greater reputation for Chien Chi Tow, both locally, and globally!" says Master Lim Choon Huat. Celebrating Community and Culture Chien Chi Tow Healthcare Pte Ltd has been an integral part of the local community, fostering a sense of cultural pride and wellness. The Heritage Enterprise Award recognizes the company's role in preserving and promoting the rich heritage of TCM within the heart of Singapore's diverse neighbourhoods. Looking Forward: A Future Rooted in Tradition As Chien Chi Tow Healthcare Pte Ltd celebrates this remarkable achievement, the company remains steadfast in its commitment to advancing the heritage of Traditional Chinese Medicine. The Heritage Enterprise Award 2023 serves as a catalyst for even greater endeavours, inspiring Chien Chi Tow to continue its mission of providing quality TCM solutions and nurturing the health and well-being of the community.
A Treatment Option for Metastatic Colorectal Cancer Patients with BRAFV600E Mutation in Singapore
Pierre Fabre Singapore receives approval from the Ministry of Health ("MOH"), Singapore, for the listing of BRAFTOVI on the Cancer Drug List ("CDL").1 An approved therapeutic product registered with Health Sciences Authority,2 BRAFTOVI, in combination with cetuximab, has been indicated in CDL as a treatment for adult patients with BRAFV600E-mutant1 metastatic colorectal cancer ("mCRC"). These patients must have had prior systemic therapy.1 BRAF mutations are estimated to occur in approximately 8–12% of patients with mCRC, and V600E is the most common mutation.3-11 Patients with mCRC who have BRAFV600E-mutant tumours generally have a poor prognosis and therefore represent an unmet medical need.12 Currently, there are no other approved targeted treatments in Singapore specifically indicated for this patient population.1 BRAFTOVI (encorafenib) is an oral small-molecule BRAF kinase inhibitor that targets a key enzyme in the MAPK signalling pathway (RAS-RAF-MEK-ERK). Inappropriate activation of proteins in this pathway has been shown to occur in many cancers, including melanoma and colorectal cancer. The BRAFTOVI and cetuximab combination regimen represents an option to treat BRAFV600E-mutant mCRC patients after prior systemic therapy. According to the Phase 3 BEACON CRC trial, a randomised Phase 3 trial designed to investigate a BRAF combination targeted therapy in BRAFV600E-mutant mCRC, BRAFTOVI in combination with cetuximab significantly improved overall survival in patients with BRAFV600E-mutant mCRC and reduced the risk of death by 40%.13 The Phase 3 BEACON CRC trial demonstrated a well-tolerated safety profile with no unexpected toxicities in the trial. The most common adverse drug reactions (>25%), observed in the BEACON CRC trial, were fatigue, nausea, diarrhoea, dermatitis acneiform, abdominal pain, arthralgia/musculoskeletal pain, decreased appetite, rash and vomiting.2, 13 In Singapore, there are no other approved targeted treatments specifically indicated for this mCRC BRAFV600E-mutant patient population.1 Such patients who are Singaporeans or Singapore Permanent Residents can claim MediShield Life of up to SGD1,800 per month, and withdraw from MediSave of up to SGD600 per month from their Central Provident Fund ("CPF") accounts.1 "The approval of BRAFTOVI for its indication in Singapore reflects our long-term commitment to advancing care for patients living with difficult-to-treat cancers," said Mr. Jairo Pardey, General Manager, Pierre Fabre Singapore. "Listed on the Cancer Drug List by Ministry of Health, Singapore, the BRAFTOVI and cetuximab combination targeted regimen provides an option as a cost-effective cancer drug treatment for this population." Colorectal cancer is one of the most common cancers among males and female aged 50 years and above in Singapore.14 According to Singapore Cancer Registry Annual Report, it is the second deadliest cancer in Singapore and the mortality rate of colorectal cancers had risen from 2.9 to 13.0 per 100,000 from 1968 to 2020.15 Singapore Cancer Society also reports an increasing trend of colorectal cancer among young adults.14 ### REFERENCES 1. The Ministry of Health, Singapore, Cancer Drug List. 2. Health Sciences Authority, Singapore, Register of Therapeutic Products, Registration No. SIN16824P. 3. Maughan TS, et al. MRC COIN Trial Investigators. Addition of cetuximab to oxaliplatin-based first-line combination chemotherapy for treatment of advanced colorectal cancer: results of the randomised phase 3 MRC COIN trial. Lancet. 2011 Jun 18;377(9783):2103-14. 4. Souglakos J, et al. Prognostic and predictive value of common mutations for treatment response and survival in patients with metastatic colorectal cancer. Br J Cancer. 2009 Aug 4;101(3):465-72. 5. Richman SD, et al. KRAS and BRAF mutations in advanced colorectal cancer are associated with poor prognosis but do not preclude benefit from oxaliplatin or irinotecan: results from the MRC FOCUS trial. J Clin Oncol. 2009 Dec 10;27(35):5931-7. 6. Tran B, et al. Impact of BRAF mutation and microsatellite instability on the pattern of metastatic spread and prognosis in metastatic colorectal cancer. Cancer. 2011 Oct 15;117(20):4623-32. 7. Yokota T, et al. BRAF mutation is a powerful prognostic factor in advanced and recurrent colorectal cancer. Br J Cancer. 2011 Mar 1;104(5):856-62. 8. Tie J, et al. Optimizing targeted therapeutic development: analysis of a colorectal cancer patient population with the BRAF(V600E) mutation. Int J Cancer. 2011 May 1;128(9):2075-84. 9. Loupakis F, et al. KRAS codon 61, 146 and BRAF mutations predict resistance to cetuximab plus irinotecan in KRAS codon 12 and 13 wild-type metastatic colorectal cancer. Br J Cancer. 2009 Aug 18;101(4):715-21. 10. Tveit KM, et al. Phase III trial of cetuximab with continuous or intermittent fluorouracil, leucovorin, and oxaliplatin (Nordic FLOX) versus FLOX alone in first-line treatment of metastatic colorectal cancer: the NORDIC-VII study. J Clin Oncol. 2012 May 20;30(15):1755-62. 11. Vecchione L, et al. A Vulnerability of a Subset of Colon Cancers with Potential Clinical Utility. Cell. 2016 Apr 7;165(2):317-30. 12. Taieb J, et al. Prognostic Value of BRAF and KRAS Mutations in MSI and MSS Stage III Colon Cancer. 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Infobip unveils AI Hub for AI-driven conversational customer experiences
Global cloud communications platform Infobip has launched AI Hub, a comprehensive artificial intelligence (AI) overhaul of its platform to help businesses create seamless end-to-end conversational experiences across the whole customer journey. Integrating advanced analytics, AI, and generative AI features with Infobip's core Software-as-a-Service (SaaS) portfolio, AI Hub supports digital transformation. It enables businesses and brands to build end-to-end conversational customer journeys, enhancing customer engagement whether for marketing, sales or support and driving business growth with minimal effort and no coding knowledge. In launching Infobip AI Hub, the global cloud communications platform collaborated with Microsoft to develop new ways of integrating generative AI within its customer engagement suite and offer even more conversational experiences to consumers. Infobip integrated OpenAI's ChatGPT model through Microsoft Azure OpenAI Service into its Infobip AI Hub to help ensure that Infobip-used language models are secure, isolated from the outside world and no end customers' data is exposed to potential security threats. Becoming a conversational ecosystem Enhancing Infobip's global communications platform, AI Hub enables organizations to create tailored customer experiences with the help of generative AI and advanced analytics to drive conversational transformation for their customers. Brands can build journeys across the full range of customer experiences, whether for support, marketing, or sales. With Infobip AI Hub businesses can, for instance: Use an AI copilot to help navigate the platform and fulfill an automated workflow for tasks, such as customer journey generation, and right marketing campaign development, which will enable brands to increase conversions, sales or reduce costs by creating an optimized end-to-end customer engagement journey using GenAI e.g., purchasing flows where it's possible to re-engage the consumer over chat channels to keep bringing them back into purchasing flows Create the right campaigns across social media channels and email campaigns to promote products using generative AI to create the draft copy and visuals Ensure customer loyalty through a smart nurture program, with advanced analytics, customer behavior, and sentiment tracking plus churn prediction Leverage AI client insights, giving detailed insights on their profile and predicting the next action Assist agents by providing AI analyzed insights, previous call summaries and suggested replies Create conversational experiences in chatbots with virtual agents, trained and constrained on the specific client datasets Businesses and brands can use AI Hub as a full stack or component products to complement other tools, such as Salesforce, HubSpot, and more. The launch supports Infobip's strategy of becoming a conversational ecosystem that enables digital transformation in the conversational age. Infobip recently helped digital insurance business LAQO create 24/7 customer support through a GPT-enabled chatbot providing fast, accessible, and personalized responses to customer queries. The chatbot frees customer agents time to focus on more complex issues and offers scalable customer service. Silvio Kutić, Chief Executive Officer at Infobip, said: "The customer journey is evolving from a fragmented experience across multiple channels to a conversational experience in one place. Cloud infrastructure, conversational chat apps and generative AI now allow conversations between businesses and consumers, enriching customer experiences and consolidating disparate customer journeys into one seamless experience. To facilitate this transition, we have launched AI Hub, which provides an end-to-end platform across the full customer journey integrating and upgrading current Infobip SaaS solutions with AI and connecting marketing, with sales and support". In September 2023, Infobip was recognized for its ability to execute and completeness of vision in the first Magic Quadrant™ for the Communications Platform as a Service (CPaaS) market. Infobip Infobip is a global cloud communications platform that enables businesses to build connected experiences across all stages of the customer journey. Accessed through a single platform, Infobip's omnichannel engagement, identity, user authentication and contact centre solutions help businesses and partners overcome the complexity of consumer communications to grow business and increase loyalty. With over a decade of industry experience, Infobip has expanded to 75+ offices globally. It offers natively built technology with the capacity to reach over seven billion mobile devices and 'things' in 6 continents connected to over 9,700+ connections of which 800+ are direct operator connections. Infobip was established in 2006 and is led by its co-founders, CEO Silvio Kutić, Roberto Kutić and Izabel Jelenić. Recent award wins include: Infobip named a Leader in the Omdia CPaaS Universe Report (Nov 2023) Infobip named a Leader in the Gartner® Magic Quadrant™ for the Communications Platform as a Service (CPaaS) 2023 Report Infobip named a leader in the Juniper Customer Data Platform Leaderboard Report (July 2023) Infobip named a Leader in the IDC MarketScape: Worldwide Communications Platform-as-a-Service (CPaaS) 2023 Vendor Assessment (doc #US50607923, May 2023) Infobip named a leader in the CPaaS Leaderboard, Juniper Research (Feb 2023) Infobip named a leader in the CCaaS Leaderboard, Juniper Research (Aug 2022) Omdia Ranks Infobip as Leader in CPaaS Universe Report (May 2022)
Cumulocity IoT platform is now available as-a-service for international customers in China through Tencent Cloud
Software AG (Frankfurt TECDAX: SOW) has joined hands with Tencent Cloud, the cloud business of global technology and entertainment company Tencent, to help smart equipment manufacturers provide IoT services for their customers in China. Customers of Software AG's application, Cumulocity IoT, can quickly and efficiently set up their smart device offerings, available as a SaaS offering, within Chinese borders. This means faster time to value and ROI for their customers. Currently, organisations are required to set up their own infrastructure within China and obtain the necessary licenses before they can start operating. Software AG's new collaboration with Tencent Cloud will enable these manufacturers to start connecting devices in China to Cumulocity IoT in the same way as anywhere else in the world: with one simple transaction with Software AG. Bernd Gross, CTO at Software AG, commented: "The business landscape in China is unique, and establishing operations in China could be challenging without a reliable partner. This is why we're very pleased to join forces with Tencent Cloud who will help us to easily extend Cumulocity IoT's benefits into China for our international smart equipment manufacturing customers to continuing operating and growing anywhere around the world." The new collaboration alleviates the complexity of setting up new IT capabilities for manufacturers who want to commence operations quickly and easily within China. Tencent Cloud will host cloud instances of Cumulocity IoT that can be immediately available via a local partner to ensure compliance with Chinese regulations. Software AG together with its partners also offers a service to handle the application process necessary to export data collected within the country. Smart Equipment Manufacturers around the world use Cumulocity IoT to connect smart devices, gather important operational and process data and create new 'as-a-Service' business models for themselves by tracking the usage and performance of their equipment. Software AG's collaboration with Tencent Cloud not only positions it as a key player in China but also sets the stage for significant strides in driving digital transformation in Hong Kong. By leveraging its integration technologies and the powerful Cumulocity IoT platform, Software AG is well-prepared to lead the charge in enabling diverse industries in the region to embrace IoT, gather crucial operational data, and adopt innovative 'as-a-Service' business models. With its expertise and the support of industry partners, Software AG is poised to revolutionize the digital landscape, empowering organizations to thrive in the era of connected devices and smart integrations.
Report by Raffles Family Office and Campden Wealth finds 47% of APAC family offices to be controlled by next-gen in five years
Asia-Pacific (APAC) family offices have demonstrated remarkable resilience and adaptability in navigating the ever-evolving financial landscape. Asia-Pacific Family Office Report 2023, a comprehensive survey conducted by Raffles Family Office and Campden Wealth, has found. Majority of APAC family offices report asset growth The report found that 58% of Asia-Pacific family offices have reported an increase in Assets Under Management (AUM). Family offices in the region have adopted innovative asset allocation strategies to counter the impact of inflation and rising rates, including shortening the duration of fixed-income bond portfolios, reducing borrowings, and increasing exposure to equities. Mr. Chi-man Kwan, Group CEO and Co-Founder, Raffles Family Office, said: "Asia-Pacific family offices are evolving at a remarkable pace. Our report highlights the resilience and adaptability of these family offices, particularly in asset allocation and technology adoption." Generational shift and succession planning numbers signify profound change Currently, approximately 15% of family offices in APAC are under the control of the next generation. Over the next five years, this figure is expected to surge to 47%, indicating a significant generational shift. Despite these shifts, only 56% of family offices feel well-prepared for succession. "This shift signifies a profound change in the region's investment and management strategies, marking a new chapter for family offices in Asia-Pacific," Mr. Kwan added. Real Estate tops private investment as family offices continue to embrace technology Real estate emerges as the favored asset category for future investments, with 39% of family offices in APAC intending to increase their allocations. Additionally, 32% plan to boost investments in private debt, reflecting diversified investment approaches. Artificial intelligence (AI) stands out as the most sought-after new technology, with a net 32% of family offices actively seeking increased engagement. Remarkably, 45% of family offices agree that blockchain technologies will create substantial value. Room for efficiency and communication From an operational perspective, the report discovered that the adoption of relatively new wealth aggregation platforms, which can provide an overview of an organisation's financial position by consolidating data from multiple banks and investment managers, is still relatively low. Currently, just 30% of family offices express a desire to leverage these platforms but this is anticipated to increase rapidly. Adam Ratner, Director of Research, at Campden Wealth said: "Family offices recognize the potential value of wealth aggregation platforms tailored to their needs. However, the initial slow uptake can best be attributed to the novelty of these tools and their high cost." This report is based on a statistical analysis of 330 survey responses from single family offices and private (not commercial) multi-family offices worldwide. On average, Asia-Pacific families participating in the survey had total wealth of US $0.9 billion, and their collective wealth stood at US $68 billion. Their family offices had, on average, US $0.5 billion of AUM, whilst aggregate AUM stood at US $41 billion. Download the full report at: https://bit.ly/RFO-APAC-report2023 Raffles Family Office Raffles Family Office (RFO) is a multi-family office that offers a full suite of wealth management services for ultra-high net worth individuals. With an integrated platform that combines independence with advisory expertise across a broad range of asset classes and an expansive global partnership network built for seamless collaboration with the world's leading financial institutions, the firm is uniquely placed to provide comprehensive, lasting and highly bespoke wealth growth and preservation solutions. RFO is dual-headquartered in Hong Kong and Singapore and has branch offices in multiple Asian financial centres, including Shanghai, Beijing and Taipei. For additional information, visit http://www.rafflesgroup.co.
FOMO Pay and Zand Bank Partner to Facilitate Cross-border Payments, Enhancing Financial Connectivity Between Asia and MENA
FOMO Pay, a Singapore-based digital payment leader, has joined forces with Zand Bank, the UAE's first digital bank, in a strategic partnership to facilitate seamless cross-border payments between the dynamic markets of Asia and the Middle East and North Africa (MENA). This collaboration aims to enhance cost-effectiveness and time efficiency in B2B cross-border transactions, providing businesses with streamlined digital payment and digital banking solutions for collections and payouts in the regions. As a major payment institution licensed by the Monetary Authority of Singapore, FOMO Pay has expanded its global remittance reach to 70+ countries. Having recently secured a Money Service Operator license from the Hong Kong Customs and Excise Department, FOMO Pay strengthens its presence in the Greater Bay Area. With a robust presence in Asia, FOMO Pay remains dedicated to building regulated financial bridges between Asia and global markets. Similarly, Zand Bank, a leading digital bank fully licensed by the Central Bank of the UAE, has consistently contributed to the growth of digital economy and financial connectivity in the MENA region through its secure, transparent, and convenient banking services. In addition to forward-looking banking services, Zand is set to be at the forefront of digital and financial innovation, providing the foundations for a broader generation of digital services. Zand will also be unique in its focus on ecosystems and communities of businesses, enabling it to introduce expanded and unchartered suite of services that grows with the ever-changing financial landscape. The MENA region is experiencing steady economic growth driven by innovation across diverse sectors, with a focus on deepening trade ties with Asia. To facilitate cross-border business, FOMO Pay and Zand Bank collaborate to streamline B2B transactions and international remittances across Asia and MENA, enabling fast and cost-effective payment processes from initiation to settlement. Leveraging their extensive local networks and banking partnerships, this partnership not only ensures swift and secure payment processing but also empowers FOMO Pay and Zand Bank to extend more competitive rates to their clients. As a result, businesses benefit from improved cost-efficiency in sending and receiving payments between these two regions. This is one of many regions, and the first of many steps in Zand and FOMO Pay's strategy to create an ecosystem that allows their clients to financially connect with the rest of the world while remaining committed to its core values of security, privacy, and customer-centricity, ensuring a seamless transition to a new phase of digital finance. "At Zand, we are committed to fostering financial connectivity between MENA and the world. Our partnership with FOMO Pay is a key step in achieving this goal and establishing Zand as a gateway to the MENA and Asia region. By leveraging our combined expertise, we will provide businesses with seamless and cost-effective cross-border payment solutions, helping to fuel economic growth in both regions," said Michael Chan, CEO of Zand. "Zand takes an open-minded approach, unconfined by the tools and technologies of our time to redefine the boundaries of traditional banking for our partners and clients." "As we embark on this strategic partnership with Zand Bank, we're excited not only to empower Zand Bank with our leading digital payment and digital banking solutions but also to unlock the synergies that arise from our collaboration," said Zack Yang, Co-Founder of FOMO Pay. "This partnership is a two-way street — as we join forces with Zand Bank to establish stronger connections with Asian markets, we simultaneously enhance our own payout and settlement processes in MENA to better meet the diverse remittance needs of our clients. The joint effort aligns with our commitment to drive innovation and foster connectivity in the global markets." The collaboration between FOMO Pay and Zand Bank signifies a key step in enhancing cross-border payment system efficiency. By delivering innovative solutions for fast, secure and cost-effective transactions, both companies play a pivotal role in boosting cross-border economic activity, improving connectivity between the two influential economies.
Japan's finest alpine real estate rises at the 2023 PropertyGuru Asia Property Awards (Greater Niseko)
The 2023 PropertyGuru Asia Property Awards (Greater Niseko) today distinguished the companies catalysing the development of Japan's foremost skiing destination. In an exclusive ceremony at The Athenee Hotel, a Luxury Collection Hotel, Bangkok, Apex Property triumphed as Best Developer, with wins for its developments Hanaridge and Hanacreek. Hanaridge was distinguished as Best Housing Development (Greater Niseko) and Best Estate Housing Development while Niseko Kyo by Rooftop RE (Japan) Pte Ltd was named Best Condo Development (Greater Niseko) and Best Luxury Hotel Condo Development. Iconic Group accumulated wins for the projects Aura Niseko and Zia Niseko. Aki Niseko by Takuetsu Co., Ltd. also gained multiple winning titles. Other winning projects were Hotel101-Niseko by Hotel101 Global Pte. Ltd.; Sushi Kato Setsu Niseko by Sushi Kato; and Ultimo Niseko by Blue Waves Group. The 2023 Awards had 15 categories, including distinctions like the Best Property Management Portfolio, awarded to NISADE & The Luxe Nomad, and the Special Recognition for Public Recreation Facility, presented to the Niseko Area Mountain Bike Association (NAMBA). Jeremy Williams, managing director, Marketplaces, PropertyGuru Group, said: “I want to congratulate the awardees on their well-deserved recognition at the PropertyGuru Asia Property Awards (Greater Niseko). These award-winning companies have shown competence and creativity with their homes, hotels, condominiums, condotels, resorts, and assets, proving that the standards of real estate in Japan’s premier skiing destination continue to scale new heights.” Jules Kay, GM of PropertyGuru Asia Property Awards and Events, said: “It is great to have seen the PropertyGuru Asia Property Awards expand their recognition of the diverse residential, hospitality, and investment properties on offer in Greater Niseko. With beautiful built spaces to match its natural wonders, Japan’s leading ski destination holds lasting appeal for international property seekers, and the Awards showcase the destination as well as its standard-setting developers." The independent panel of judges who determined the list of awardees this year consist of Eddie Guillemette, chairperson of the Greater Niseko awards and CEO, Midori no Ki (MnK); Acme Wu, marketing director, Niseko Tourism; Bill Barnett, founder and managing director, C9 Hotelworks; Greg Hough, managing director, Niseko Portfolio and Explore Travel Group; Minoru Okubo, representative director, ResortPropertyJapan Co., Ltd.; and Shigeru Uehara, director, Niseko Home Design, Ltd. HLB upheld the fairness, transparency, and credibility of the selection process under the supervision of Paul Ashburn of HLB International Real Estate Group. Organised by PropertyGuru Group (NYSE: PGRU), Southeast Asia’s leading property technology company, the 2023 PropertyGuru Asia Property Awards (Greater Niseko) are supported by official magazine Property Report by PropertyGuru; media partners Bridges and Powderlife; supporting association Niseko Tourism; official courier partner Ezy Express; and official supervisor HLB. For more information, email email@example.com or visit the official website: AsiaPropertyAwards.com