Enterprise tech happenings: December 2022 Roundup
Enterprise tech happenings: December 2022
LexisNexis release the results of its first Global State of Fraud and Identity Report
LexisNexis Risk Solutions released the results of its first Global State of Fraud and Identity Report, based on 39 billion transactions gathered from the LexisNexis Digital Identity Network® from January 2022 to June 2022.
It found that Customer Identity Verification remains a top challenge for global businesses across APAC, EMEA, LATAM and NAM. Global businesses cited limited real-time third-party data (46%) and limited real-time transaction tracking (43%) as the two biggest challenges in verifying customer identity in online channels.
In addition, pandemic-driven digital transaction growth continued to attract fraud attacks, with global businesses recording a 32% jump in the human-initiated attack rate over the past 12 months, while high-velocity automated bot attacks were up 38% YoY.
Finastra global survey reveals Open Banking is now 'must have' in Singapore
A new report from Finastra Financial Services State of the Nation Survey 2022 found that Banking as a Service (BaaS) and embedded finance have become an industry norm and are already expected/demanded by customers with 99% of respondents in Singapore considering it either a ‘must have’ or ‘important’, up from 97% last year. Singapore’s cloud adoption is indicative of it's banking landscape dominated by incumbent banks where their software stack is split equally between cloud and on-premises solutions.
Salesforce unveils ITE collaboration comprising training and mentorship valued at S$8.7 million
Salesforce has exchanged a Memorandum of Understanding (MOU) with the Institute of Technical Education (ITE) to announce a collaboration to equip at least 7,500 ITE students with foundational customer relationship management (CRM) skills. 60 ITE students per cohort will be mentored by Salesforce employees and supported by ITE lecturers to obtain administrator or developer certifications.
UOB Goes Live with New HR Management System from Workday
United Overseas Bank (UOB), has successfully deployed Workday Human Capital Management (HCM) across 14 markets including Singapore, Australia, Hong Kong, and the United States. The bank also announced plans for further deployments across additional five ASEAN markets in 2023 including Indonesia, Malaysia, and Thailand.
With Workday HCM, management can identify talent gaps and develop talent optimisation programmes. Having a single, unified platform to help digitise various HR systems and processes also helps reduce the number of administrative and manual tasks to be performed by the teams and cuts down on manual interventions, physical forms, and emails.
American Express opens its third Decision Science Centre in Singapore
American Express has announced the opening of its third Decision Science Centre of Excellence in Singapore following the first two in the United States and India. The Singapore centre, the first in Southeast Asia, will manage enterprise credit and fraud risks throughout the customer lifecycle, across the company’s consumer and commercial businesses, and across all their global products to deliver credit and fraud protection for customers. It added that they are in the process of hiring eighty (80) data scientists that will be based in the Singapore centre.
M1 empowers Singapore museums with 5G connectivity and edge computing
M1 has announced that they are providing 5G connectivity and edge computing solutions to the National Museum of Singapore and Children’s Museum Singapore (CMSG) as part of a wider initiative by the National Heritage Board (NHB) to progressively roll out 5G technology for the rest of its national museums and heritage institutions across Singapore. M1’s 5G network allows museums and curators to engage with audiences in ways like Augmented Reality (AR) to Virtual Reality (VR) artworks to 3D holographic displays, and 4K resolution remote video tours.