WOLTERS KLUWER FRR RECEIVES APPROVED VENDOR STATUS FOR SINGAPORE'S SME GODIGITAL PROGRAM

SINGAPORE, Oct 28 (Bernama-BUSINESS WIRE) -- Wolters Kluwer’s Finance, Risk & Regulatory Reporting (FRR) business has been chosen as an approved vendor for the SME GoDigital program, operated by Infocomm Media Development Association (IMDA).

IMDA supports small and medium-sized enterprises (SMEs) in their efforts to adopt digital technologies to seize growth opportunities and streamline their operations. The SME Go Digital initiative enables institutions operating in Singapore to receive a grant to cover the implementation costs of adopting a pre-approved solution. More than 20,000 SMEs have adopted digital solutions from the program since its launch in 2017.

In association with The Monetary Authority of Singapore (MAS), IMDA is rolling out the GoDigital program for the Financial sector. And, Wolters Kluwer FRR has been accorded pre-approved vendor status for its market-leading OneSumX for Regulatory Reporting SaaS solution.

The grant program is open to financial institutions with 200 or fewer Singapore-based staff that are registered or licensed to operate in Singapore. The IMDA program encourages banks to adopt modern digital technologies in support of their regulatory reporting obligations - effectively helping to remove cost as one of the major obstacles to migrating key operational elements to a modern cloud-based infrastructure.

The grant covers almost 100 percent of the cost of initial implementation and is in the form of a package, with each package valid for two years. Qualifying institutions are incentivized to migrate to modern reporting infrastructures and abandon legacy solutions, which are often fragmented, highly manual, and prone to error.

Wolters Kluwer FRR launched its award-winning SaaS Regulatory Reporting solution last year, aligning with the cloud technology strategies the company’s clients are adopting, providing predictability of cost and lower total costs of ownership. The OneSumX for Regulatory Reporting SaaS solution includes an updated OneSumX Regulatory Engine characterized by its enhanced performance, better user experience, automation and scalability functionalities.

Wolters Kluwer’s OneSumX for Regulatory Reporting SaaS solution offers the same functionality as the company’s on-premise product. The SaaS solution, like the OneSumX for Regulatory Reporting on-premise solution, combines bank data into a single source of data to ensure consistency, ease of reconciliation and accuracy. It includes access to the company’s unique Regulatory Update Service, which is maintained by Wolters Kluwer experts who actively monitor regulation in 30 countries, factoring the potential impact of future changes into the OneSumX portfolio and ensuring clients’ ongoing compliance. As well as assisting with predictability of cost, the SaaS offering is a secure platform that provides flexibility of infrastructure for banks undergoing growth.

“The news that IMDA, working in association with MAS, has recognized our cloud technology solution and granted us approved status is testament to the superior product functionality that characterizes OneSumX for Regulatory Reporting,” commented Rainer Fuchsluger, Managing Director of Wolters Kluwer FRR, APAC. “We look forward to working with the qualifying financial institutions, IMDA and the regulators to encourage Singapore’s banking sector to adopt cloud strategies.”

Wolters Kluwer FRR, which is part of Wolters Kluwer’s Governance, Risk & Compliance division, is a global market leader in the provision of integrated regulatory compliance and reporting solutions. It supports regulated financial institutions in meeting their obligations to external regulators and their own board of directors.

Wolters Kluwer FRR receives frequent independent recognition of its excellence and innovation, celebrating a record year for award wins in 2019. Risk magazine recently awarded the company its coveted Regulatory Reporting System of The Year Award for the third year running, and Wolters Kluwer FRR is the #1 provider in both Regulatory Reporting and Liquidity Risk according to the RiskTech100, as compiled by Chartis Research.

About Wolters Kluwer Governance, Risk & Compliance

Governance, Risk & Compliance (GRC) is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to ensure compliance with ever-changing regulatory and legal obligations, manage risk, increase efficiency, and produce better business outcomes. GRC offers a portfolio of technology-enabled expert services and solutions focused on legal entity compliance, legal operations management, banking product compliance, and banking regulatory compliance.

Wolters Kluwer (AEX: WKL) is a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. Wolters Kluwer reported 2019 annual revenues of €4.6 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide.

 

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Contact

Paul Lyon
Director of Global Corporate Communications, Banking & Regulatory Compliance
Governance, Risk & Compliance
Wolters Kluwer
Office +44 20 3197 6586
Paul.Lyon@wolterskluwer.com 

Source : Wolters Kluwer
 

--BERNAMA

TRICOR AXCELASIA EXPANDS INTO SINGAPORE WITH NEW GOVERNANCE, RISK & COMPLIANCE (GRC) SOLUTIONS

 SINGAPORE, Oct 30 (Bernama-BUSINESS WIRE) -- Tricor Group (Tricor), Asia's leading business expansion specialist providing integrated business, corporate, investor, human resources and payroll, corporate trust and debt services and strategic business advisory is pleased to announce that Tricor Axcelasia, a wholly owned subsidiary of Tricor Group, has expanded its full range of corporate governance, risk and compliance (GRC) solutions into Singapore to offer risk management, internal audit and sustainability advisory to the C-suites and boards of publicly listed companies, private companies, multinational corporations and government-linked entities.

Tricor Group’s acquisition earlier this year of the Malaysian operations of Axcelasia, Inc., a SGX listed company, offers clients expertise in corporate GRC and internal audit and enhances Tricor’s well-renowned corporate services solutions in the ASEAN region. Tricor Axcelasia, with a staff of 100+ professionals and a 1,000+ client portfolio, is led by seasoned industry executives, including Regional Managing Director Ranjit Singh and Non-Executive Chairman Dr. Veerinderjeet Singh.

Tricor Axcelasia provides organizations with a tailored approach to structuring a solid corporate GRC framework, establishing sound risk management, regulatory compliance and internal audit practices. Now expanding into Singapore, Tricor Axcelasia will partner with organizations to increase awareness of strategic GRC best practices and know-how, identify business improvement opportunities with risk-based internal audit, transform day-to-day operations by integrating sustainability strategies, and provide objective guidance on board activities.

Gary Tok, Tricor Group Chief Commercial Officer, said: “We are pleased to bring Tricor Axcelasia’s full GRC suite to Singapore. During this unprecedented moment of disruption, as companies in Singapore and beyond face emerging obstacles created by the COVID-19 pandemic, enterprise risk management is even more critical. Our dedicated team of highly experienced, specialized experts is fully prepared to develop and deploy integrated solutions that align GRC strategy with business strategy to enhance performance, raise security measures, fulfill regulatory requirements and protect organizations in Singapore against today’s increasingly challenging global business environment.”

Lon Gee Ho, Tricor Singapore CEO, said: “The GRC landscape in Singapore, ASEAN and global markets is constantly evolving. Our dedicated team can help organizations navigate complex operating environments so they can reap maximum value from their GRC investment.”

Ranjit Singh, Regional Managing Director Tricor Axcelasia, said: “Risk-minded organizations are better able to develop optimization strategies, supported by data and methodologies that reflect the many challenges ahead. Tricor Axcelasia’s professional and thorough guidance pre-emptively prioritizes the risks and challenges posed by constantly changing regulations and market conditions. In particular, our collaborative, tailored approach ensures that our services are personalized to every organization, industry and geography we serve.”

About Tricor Group

Tricor Group (Tricor) is the leading business expansion specialist in Asia, with global knowledge and local expertise in business, corporate, investor, human resources & payroll, corporate trust & debt services, and strategic business advisory. Tricor provides the building blocks for, and catalyzes every stage of clients’ business growth, from incorporation to IPO. Tricor has had a rapid expansion through organic growth and development as well as partnerships, mergers and acquisitions. The Group today has over 50,000 clients globally (including 20,000 clients in Mainland China), a staff strength of over 2,700 and a network of offices in 47 cities across 21 countries / territories. Our client portfolio includes over 1,500 companies listed in Hong Kong SAR and Mainland China, ~500 companies listed in Singapore and Malaysia, and more than 40% of the Fortune Global 500 companies, as well as a significant share of multinationals and private enterprises operating across international markets. In March 2017, the Permira Funds became the controlling shareholder of the Tricor Group, alongside management.

Visit: www.tricorglobal.com / www.tricoraxcel.com

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Contact

For more information, please contact:
HONG KONG SAR (GROUP OFFICE)
Sunshine Farzan
Tricor Services Limited
Group Head of Marketing & Communications
Tel: +852 2980 1261
Email: Sunshine.Farzan@hk.tricorglobal.com

Source : Tricor Group

AppDynamics’ new capabilities help IT teams build cloud native applications

 KUALA LUMPUR, Oct 30 -- AppDynamics has released new capabilities designed to help IT teams build cloud native applications with confidence by connecting hybrid cloud application performance to business performance in real-time.

These new capabilities include Full Stack Observability Platform; Cloud Data Collector; Cloud Native Visualization; and, Intelligent Application Resourcing and Cost Optimization.

Via a context-sensitive visualisation interface, correlated insights across domains and intelligent resource optimisation, enterprise IT leaders will be able to reduce noise and surface involving only the most business-critical information and insights across their unique hybrid environments.

“AppDynamics’ new portfolio of cloud native services is the only solution on the market to provide an easy to use performance monitoring platform that helps users tame the complexity of the cloud from the application all the way through to the network,” said Cisco security & applications senior vice-president and general manager, Jeetu Patel.

As IT teams adopt more cloud native services to meet the digital demands of their users, the challenge to refactor applications and design new features at scale becomes increasingly challenging due to a lack of holistic visibility and business context across multiple environments.

AppDynamics’ new portfolio of cloud capabilities closes that visibility gap and allows users to connect traditional systems with cloud native services, all in the context of business outcomes.

AppDynamics, a part of Cisco, is the world’s #1 Application Performance Monitoring solution and AIOps platform. It helps technologists prevent digital performance issues by monitoring cloud-native technologies and traditional infrastructure.

-- BERNAMA

CROWN GROUP LAUNCHES FIRST MELBOURNE DEVELOPMENT LUXURY APARTMENTS IN SOUTHBANK NAMED "ARTIS"

 

Sydney Australia, Oct 30 (Bernama-GLOBE NEWSWIRE) -- Leading Australian property developer Crown Group will launch its first Melbourne development next month.

Crown Group Chairman and CEO Iwan Sunito said Artis, in prestigious Southbank, was part of Crown Group’s plan to create a $3 billion development pipeline in Melbourne.

“We are confident to launch in the current market because we are supported by key market fundamentals – it is in a prime, highly sought-after location outside of the Melbourne CBD; there is strong demand for a boutique development with unique design; and there is restricted supply of such a product.

Mr Sunito said having only 153 apartments, uninterrupted city views and a design by internationally renowned Koichi Takada Architects meant it was a truly limited offering.

“There are very few developers launching in Melbourne in 2021 and therefore limited stock available to meet the pent-up demand,” he said. “There has also been a lot of anticipation about Crown Group coming to Melbourne for the first time.”

Crown Group, which has offices in Sydney, Brisbane, Indonesia, and Los Angeles, has teamed with experienced Melbourne residential developer G3 Projects in their first joint venture. G3 Projects, headed by Bobby Iskandar Lim, has made a name for itself with numerous sophisticated boutique projects across Melbourne over the past 25 years.

The landmark building will change the face of Southbank with its beautiful white ribbon-effect façade that reflects the movement of art in motion. Set across a corner site of 2070sqm at 175 Sturt Street, Artis will host 153 luxurious one, two and three-bedroom apartments and penthouses. Residents will have access to Crown Group’s signature resort-style facilities, which include a beautiful rooftop lounge with garden and children’s play area, level one gym and spectacular indoor pool and jacuzzi. A community arts space and café will provide a space for local artists to exhibit.

Melbourne’s City Fringe and St Kilda Road Precinct – Colliers International

Colliers Director, International Residential Melbourne, Robert Papaleo, said Artis would border the St Kilda Road precinct, offering prime living on the city fringe with easy access to the Royal Botanic Gardens and some of Melbourne’s most prestigious schools.

“The rejuvenation of Southbank is continuing, with transformation of its riverside precinct and creation of new public spaces to match the appeal of the renowned St Kilda Road boulevard,” Mr Papaleo said. “This location is only set to improve with the opening of the new Anzac Metro Station in 2025, 600m away, and the $200m of improvements by the Victorian Government that will reinforce the primacy of the Southbank arts and cultural precinct.”

He said Melbourne’s contemporary apartment market had enjoyed its re-birth via several projects around Southbank 30 years ago and now continued to evolve along with Melbourne’s improved global city status. “Artis will be at the frontier of the next generation of sophisticated apartment living in Melbourne with a standard of design that will meet the demands of increasingly discerning apartment dwellers,” he said.

Mr Papaleo said Artis would launch at a time when new apartment supply in Melbourne was falling dramatically. The mid-2010s saw an unprecedented wave of new apartments built across Melbourne which was supported by an equally unprecedented level of demand,” he said. “This supported a fundamentally strong apartment market. The outlook now is for new apartment completions to fall dramatically post 2022 with buyers of quality apartments in city fringe locations like Southbank facing limited choices.”

The Design – Art in Motion

Architect Koichi Takada said Artis was at the gateway to the Melbourne Arts Precinct, so the design naturally celebrates the city’s vibrant arts scene and sense of community.

“When we started designing, we wanted to think about the connection between art and form – in other words art and architecture,” he said. “And of course, art and architecture are contrary – one has no defined function, the other has a function and are static. So, we came up with this concept of art in motion. And motion is not something we usually associate with architecture. Therefore, it created a sense of tension between art and architecture – a contrast that we hope to humanise the high-rise building in an urban context.”

Mr Takada said he was inspired by images in the arts to come up with the design, which has two striking curved white towers encircled by sinuous white “ribbons”. “The design was inspired by the tempo of music, adagio and legato, creating movement and fluidity throughout the spaces that is smooth and connected. The lower height and the community art space would also help humanise the buildings by giving back to the community. It is designed to be a platform for emerging artists.”

“In terms of urban developments, there are a lot of spaces within this one where you can find a sense of escape,” he said. “This is something Crown Group does really well, with resort-style living and common amenities such as rooftop garden terraces, a residents’ room, a children’s playroom and gym. In that sense it is very much a Crown Group signature building.”

Southbank – An Evolving Arts Precinct

Melbourne Arts Precinct in Southbank forms the city’s cultural heart, with a higher concentration of galleries, theatres and art spaces than most cities in the world. The precinct shows more than 3000 performances and exhibitions each year.

It is home to Australia’s most visited gallery, the National Gallery of Victoria, and the nation’s largest performing arts centre, Arts Centre Melbourne – home to The Australian Ballet, Melbourne Symphony Orchestra, Melbourne Theatre Company and Opera Australia.

The Victorian Government is now working to transform the Melbourne Arts Precinct into one of the great creative and cultural destinations of the world with a $200 million funding boost.

The Melbourne Arts Precinct Transformation will create major new attractions such as NGV Contemporary – set to be Australia’s largest gallery dedicated to contemporary art and design – and Arts Centre Melbourne’s new creative hub at 1 City Road, which will feature a new Australian Performing Arts Gallery, an expanded Australian Music Vault that celebrates Australia’s contemporary music story.

The project will also modernise Arts Centre Melbourne’s Theatres Building – under the city’s landmark Spire. Complementing this will be 18,000 square metres of new and renewed pedestrian and garden areas to connect the surrounding neighbourhood with the amazing array of cultural institutions at its heart.

For more information, visit https://www.crowngroup.com.au/melbourne/

Attachments

• Crown Group Chairman & Group CEO Iwan Sunito_HR
• ARTIS_02__final_BW_02_LR

Claire Xu
Crown Group
+86 13817970214
claire@glodownead.com

SOURCE : Crown Group

ISG INDEX: MANAGED SERVICES HITS 14-YEAR LOW IN ASIA PACIFIC

 ITO, BPO markets slump on COVID-19 concerns, as companies turn to cloud-based services


SYDNEY, Australia, Oct 30 (Bernama-GLOBE NEWSWIRE) -- Buffeted by pandemic concerns, the managed services market in Asia Pacific fell in the third quarter to its lowest level in 14 years, according to the latest state-of-the-industry report from Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.

The Asia Pacific ISG Index™, which measures commercial outsourcing contracts with annual contract value (ACV) of US $5 million or more, shows the region’s managed services market plummeted 48 percent in the third quarter, to US $338 million, its worst showing since 2006. Within managed services, information technology outsourcing (ITO) was down 50 percent, to US $277 million, and business process outsourcing (BPO) was down 32 percent, to US $61 million.

Meanwhile, ACV for cloud-based services, traditionally the dominant force in the region’s sourcing success, was up 6 percent in the third quarter, to US $1.6 billion. That figure includes infrastructure-as-a-service (IaaS), up 8 percent, to US $1.4 billion, and software-as-a-service (SaaS), down 8 percent, to US $222 million—one of its lightest quarters in the last three years.

Asia Pacific’s combined market (both managed services and as-a-service) was down 10 percent, to US $1.97 billion, despite overall growth in the as-a-service segment.

“Asia Pacific began the year with a record quarter for cloud-based services, but the as-a-service market has drifted lower the last two quarters, reflecting slowing investment due to the pandemic,” said Scott Bertsch, partner and regional leader, ISG Asia Pacific. “This quarter, the growth in cloud-based services was not enough to lift the combined market in Asia Pacific.”

Market-share battles in cloud infrastructure continue to rage across the region, especially in India, where the action is heating up in the telco, broadband internet and public cloud markets, Bertsch said. AWS, for example, signed an agreement with Bharti Airtel to bring more cloud services to companies in India, while Microsoft formed a partnership with Jio.

In the managed services arena, Bertsch noted that contract volume fell back to more typical levels in the third quarter after a rise in contracting activity the previous quarter. “Virtually all the deals were below US $20 million,” said Bertsch. “Large awards, historically a challenge for Asia Pacific, have dried up since the onset of COVID-19, and the path to closing those deals has grown longer.”

Notable bright spots, Bertsch said, were Accenture winning a sizable transaction with a large manufacturer in Asia, and IBM closing a deal with the Airport Authority of Hong Kong.

Year-to-Date Performance

For the first nine months, Asia Pacific’s combined market dropped 7 percent, to US $6.4 billion. Managed services dropped 41 percent, to US $1.4 billion, on a lack of large deals, with ITO (down 40 percent, to US $1.2 billion) and BPO (down 49 percent, to US $197 million) both contributing to the poor performance. Most of the region’s geographic markets were down substantially, except for Australia-New Zealand (ANZ), which saw its ACV grow 3 percent year to date.

As-a-Service, meanwhile, rose 11 percent, to US $5 billion, although this segment is growing much more slowly than in previous years. IaaS was up 14 percent, to US $4.3 billion, even as SaaS declined 6 percent, to US $695 million.

Global Forecast

ISG is forecasting the global managed services market will be down 6 percent for the full year, 150 basis points better than its July forecast. The firm is projecting the global as-a-service market will grow by 15.5 percent in 2020, up from its 11 percent forecast in July.

About the ISG Index™

The ISG Index™ is recognized as the authoritative source for marketplace intelligence on the global technology and business services industry. For 72 consecutive quarters, it has detailed the latest industry data and trends for financial analysts, enterprise buyers, software and service providers, law firms, universities and the media. In 2016, the ISG Index was expanded to include coverage of the fast-growing as-a-service market, measuring the significant impact cloud-based services are having on digital business transformation. ISG also provides ongoing analysis of automation and other digital technologies in its quarterly ISG Index presentations. For more, visit this webpage.

About ISG

ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 700 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.

Press Contacts:

Will Thoretz, ISG
+1 203 517 3119
will.thoretz@isg-one.com

Jim Baptiste, Matter Communications for ISG
+1 978 518 4527
jbaptiste@matternow.com 

SOURCE : Information Services Group, Inc.