Welcome to Cyberport

30°C / 54°F

A A A
  • Cyberport Facebook Page
  • Cyberport Twitter Page
  • Cyberport LinkedIn Page


Tech News

News feed provided by SMBWorld.

 

28-05-2017
Bengaluru is the IoT hub of India: Zinnov

A study by management consulting firm Zinnov has revealed that Bengaluru is the prime destination for IoT (Internet of Things) startups to set up base, as it accounts for 52% of the total IoT startups in India. Bengaluru is followed by Delhi NCR with 12%, Mumbai 11%, Hyderabad 4%, Chennai 2%, and others together accounting for 19%. “A wide availability of talent, thriving ecosystem of investors, access to industry experts and the presence of startup accelerators are contributing to Bangalore’s dominance,” a release from the firm said. The study on the IoT startup ecosystem in India also reveals that over 120 IoT startups were set up in India in the last decade with more than 80% of them being established after 2010. Cumulatively, these startups have received more than $169 million in funding since 2006. While indicating that an increasing number of connected devices is expected to propel India’s IoT market, the study titled, IoT Startups in India 2017, also states that the funding activity across use cases for such startups in India indicate a huge growth potential for them in the country. “While the initial wave of growth for IoT startups in India was focused on consumer applications, the next wave will be geared towards Industrial IoT,” Zinnov Engagement Manager & Delivery Head (G.A.P) Anand Subramaniam said. “In addition, we will also witness a host of partnerships being crafted between GICs in India and the IoT startups in the near term,” Subramaniam added. The study said that 67% of the IoT startups in India are in the infrastructure layer, which includes hardware components such as infrastructure sensors, embedded chips, MEMS, actuators, modules, SIM card and system design. The applications layer accounts for 52% of the IoT startups in India, the study revealed, stating that the IoT landscape in India is segmented across three categories based on use cases — Industrial IoT, Enterprise IoT, and Consumer IoT. Zinnov’s study also indicated 47% of the IoT startups in India fall under Consumer IoT with popular use cases being wearables, connected vehicles and connected appliances. Enterprise IoT is a close second place, with 40% share. In terms of funding, MedTech, security & surveillance and retail sensing have the highest share in the Enterprise IoT segment. Industrial IoT accounts for approximately 27% of the IoT startups and has received close to $65 million in funding from investors.

View More
27-05-2017
Number of women in managerial positions in Malaysia remains high in 2017

The number of women in management positions in Malaysia in 2017 has fallen slightly from 2016 but it still remains top of a table that includes countries surveyed in the 2017 Hays Asia Salary Guide.The annual Hays Asia Salary Guide reveals women account for 35 per cent of management roles in Malaysia with mainland China also reporting the same figure. Representing a two per cent loss from last year’s figure, Malaysia is ahead of Hong Kong who are at 33 per cent, Singapore 31 per cent and Japan at 22 per cent.“Malaysia continues to stand out when it comes to the diversity of its workforce in managerial positions and we applaud the high number of women in management roles. It can however do better as last year’s figure indicates,” says Tom Osborne, Regional Director of Hays in Malaysia.The Guide, now in its tenth year, highlights salary and recruiting trends across Singapore, Malaysia, Hong Kong, mainland China and Japan. The research is based on a survey covering 3,000 employers representing over six million employees.With diversity a huge topic right now, it was also revealed from countries surveyed that 52 per cent of employers report having formal diversity policies and procedures in place, but only 18 per cent say their organization adheres to these regulations “well” and a further 36 per cent only “fairly well.”Mainland China’s workforce is the least ethnically diverse with only six per cent of its workers hailing from another country compared to 12 per cent of Hong Kong’s workforce. Foreign workers comprise 11 per cent of Malaysia’s workforce and just nine per cent of Japan’s workforce.In skill short areas, 59 per cent of employers across all countries would consider employing or sponsoring a qualified candidate from overseas. This is a six per cent drop compared to last year’s results, which could be indicative of tightening labour laws in the countries surveyed or it could signal the need for employers to do more to attract skilled foreign workers to their hard to fill roles.“Considering the challenges and opportunities expected this year, it is important employers in Malaysia have the widest talent pool to choose from when filling roles, especially those experiencing skills shortages,” Tom says. Tom adds further by saying “to remain competitive in the ever changing and complex business environment, companies need to be able to bring in talent from overseas with ease when the right skill sets cannot be found locally.”Due to changes of employment laws by governments in certain countries across Asia that support the recruitment of local candidates over foreign candidates, companies are now investing more in developing their current workforce with 36 per cent of employers believing they do not have the talent needed to meet their current business objectives.The majority (53 per cent) of employers have indicated that they have up-skilled their current workforce to counter areas of skills shortages while 39 per cent have focused on improving their candidate attraction strategies. 

View More
27-05-2017
Say goodbye to last-click attribution

CMOs will soon know if their marketing works or sucks—for free.Google recently announced Google Attribution, a brand-new product that the company says will answer CMOs’ burning question, “Is my marketing working?”Best of all, it will soon be able for free.According to the announcement, CMOs and their agencies will be able to measure their campaigns’ impact across various devices and channels from a single location.Current solutions often do not offer enough information for CMOs to understand how well their campaigns are performing across all touch points.Difficulty in setting up, inability to track users from one device to the other and poor integration with ad tools have made such measurements both laborious, time-consuming and costly.As a result, many rely on last-click attribution, which Google believes “misses the impact of most marketing touchpoints.”The main issue is that last-click attribution does not offer visibility to user behavior at each touch point, such as email, display or search results.It is a major blind spot for CMOs who are then unable evaluate the impact of their upper and mid-funnel initiatives.In comparison, Google Attribution claims to help CMOs to monitor the entire customer journey centrally, allowing them to adjust or amend their budgets between channels to boost engagement quickly.It achieves this by tightly integrating with AdWords, Google Analytics and DoubleClick Search.CMOs will also be able to unearth unique conversion patterns and compare customer journeys throughout the conversion process.In addition, the new tool allows CMOs to use data-driven attribution, using machine learning to credit each step of a customer’s journey.Google Attribution is essentially a simplified version of Adometry, a multi-channel attribution service that Google acquired in 2014.Further reading:Martech set to shape Hong Kong’s digital transformationProgrammatic ad buying becomes people basedCMOs need to own up to YouTube ad debacle Caption: Image credit: iStockphoto by Getty Images

View More
26-05-2017
Loyalty should not be about discounts only, says Forrester

Customer loyalty is vital if your firm needs to stand out, outcompete, and succeed in today’s connected economy.It is the reason why many Retail, FnB and Hospitality CMOs are refocusing their efforts to build meaningful loyalty programs.This has created a whole segment of loyalty program customers whose motivations and behavior tend to slightly differ.How the loyal differFirst, loyalty program members spend more—on average US$42.33 more—at traditional retail shops.They also tend to join more than one loyalty program.The Forrester report How Consumers Really Feel About Loyalty Programs noted that US online adults who are part of a program tend to belong to at least eight others on average.The report also noted that motivations among different demographics differ according to the industry.For example, Gen Y consumers have an affinity to enroll into band and credit card programs, but are “less likely” to join a grocery program.Programs impact behaviorBrands matter.According to the report, 56% of consumers sought out programs that they liked.They also noted that loyalty programs “influence” their shopping behaviors, especially when deciding on shop location, items and spending pattern.While discounts and savings remain key attractions of loyalty programs, 59% noted that such programs give them access to exclusive services and products.For example, the report noted that consumer interest in receiving enhanced customer service increased by 7%, while interest in points and discounts remained flat.Go beyond pointsIn the report, Forrester advised B2C CMOs not to spend too much energy quantifying the “give and get” of their programs.These include finding out the true market value of each point, setting redemption thresholds and setting the right discounts.While these are important, the firm asked marketers to also consider behavioral and emotional loyalty.To do this, CMOs need to fine tune the programs to ensure that it caters to diverse nuances and needs of each customer segment or demographic.Next, not all loyalty program members are “gold diggers”.Instead, firms will do well if they offer a balanced mix of rewards that cater to different expectations and offer a more comprehensive program.Lastly, Forrester recommends CMOs to go beyond signups, offer uptake and earn-and-burn transactions when measuring the success of these programs.“B2C marketing pros should also see how loyalty is improving customer intimacy as well as involvement with a brand, physical store visits, social and customer service call sentiment, shared content, and brand affinity,” the report noted.Further reading:Mobile foundation vital for B2C marketing successMarketer-agency model is under delivering, says ForresterMarketers must separate the ‘hot’ from the hype Caption: Image credit: iStockphoto by Getty Images

View More
26-05-2017
More Vietnamese SMEs to benefit from ADB ’s trade finance program

The Asian Development Bank’s (ADB) Trade Finance Program (TFP) and two Vietnamese banks — An Binh Joint-Stock Bank (ABBANK) and Tien Phong Commercial Joint-Stock Bank (TPBank) — have signed agreements enabling the program to provide guarantees of up to $50 million annually to support trade finance in Vietnam.“Trade and trade finance are critical to the global and regional economy, in particular to small and medium-sized enterprises and job creation," said Steven Beck, ADB’s Head of Trade Finance. "Our Trade Finance Program aims to help Viet Nam and Vietnamese businesses expand trade opportunities, increase competitiveness, and promote trade-led inclusive growth.”“This cooperation with the TFP will not only bring higher business efficiency, but also create an opportunity for our bank to affirm its brand in the banking and financial market,” said Cu Anh Tuan, Chief Executive Officer of ABBANK. “The signing with the TFP marks the start of a positive development and close relationship between ADB and ABBANK in developing our banking services. We hope for ADB’s continued trust and support to further promote trade development between Vietnam and other countries.”ABBANK is one of the leading commercial joint-stock banks and is among the top ten largest commercial banks in terms of charter capital in Vietnam. ABBANK’s current charter capital exceeds VND 5,319 billion (about $234 million) and it has an extensive network of 164 transaction offices located in 34 provinces nationwide."Apart from the trade finance guarantee limit of $30 million, ADB's extensive network of banks and other financial institutions will provide great opportunities for TPBank to expand its global partnerships," said Nguyen Hung, Chief Executive Officer of TPBank. “The guarantee limit from ADB shall be used to support Vietnamese small and medium-sized enterprises to optimize their businesses so they can contribute to Vietnam’s economic growth."TPBank is one of the most dynamic commercial banks in Vietnam with total assets of around VND106,000 billion (about $4.6 billion), about 4,000 employees, and an extensive network of 55 branches and transaction offices in Vietnam. TPBank has been a pioneer in setting trends in modern banking services and aims to become the leading digital bank in Vietnam.Currently, with more than 1.5 million individual customers and businesses, TPBank has been asserting its position as a strong, sustainable and healthy bank in Vietnam.To date, TFP has supported $8.2 billion in trade through 5,814 transactions covering both guarantees and direct funding in Vietnam. Out of TFP’s total transactions in Viet Nam, 67% are related to small and medium-sized enterprises. TFP is currently working with 11 commercial banks in Vietnam and, with today’s signing, this will increase to 13 commercial banks.The TFP, backed by ADB's AAA credit rating, provides guarantees and loans to over 200 partner banks to support trade, enabling more companies throughout Asia to engage in import and export activities. With dedicated trade finance specialists and a 24-hour response time, the program has established itself as a key partner in the international trade community, providing fast, reliable, and responsive support to fill gaps in the region’s most challenging markets.TFP complements its financial support with a regular series of workshops and seminars to increase knowledge and expertise in trade finance products and operations, risk management, and fraud prevention.Since 2009, TFP has supported more than 9,200 small and medium-sized businesses across developing Asia — through over 13,000 transactions valued at over $25.5 billion — in sectors ranging from commodities and capital goods, to medical supplies and consumer goods.

View More
24-05-2017
Blind recruitment boosts diversity and performance: study

Many organizations are adopting blind recruitment in an effort to help eliminate unconscious bias, according to recruiting experts Hays, in the latest edition of the Hays Journal.Blind recruitment involves omitting personally identifiable information, such as name, gender, age and education, from applicant CVs. The aim is to overcome unconscious bias during the recruitment process, which can be counterproductive to a strategy to improve workplace diversity.“Everyone has unconscious bias,” says Yvonne Smyth, Head of Diversity at Hays. “At its most basic, it is about whether you see someone as part of your ‘in group’. For example, do you have a Caucasian sounding name, as I do? Did you go to the same university as me? However, when it comes to any kind of selection at key points in careers, which could be recruitment, promotion, being put forward for a new project, even giving feedback, this can influence the shape of someone’s career and the opportunities they have.“Unconscious bias comes into play because you are exercising personal judgement,” she said.Lynne Roeder, Managing Director of Hays in Singapore, says blind recruitment can improve workforce diversity. “This technique can help organizations ensure a diverse flow of talent into their selection process. It can also boost your employment brand since jobseekers say they have the opportunity to better position their strengths in an interview.”Lynne also says that if organizations are to maximize the benefits of a blind recruitment strategy, managers need to be aware of their own unconscious biases and, through training, learn to recognize and better manage them at key points of judgement and selection.An early successOne of the earliest examples of the technique being put into practice actually took place in 1980 in the Toronto Symphony Orchestra, which, up until then, was comprised almost entirely of white male musicians.Recognizing that they had a diversity problem, they tried a different approach to auditioning new members; the recruitment panel sat behind a screen so they could only hear the music of those auditioning for the orchestra. They could no longer see them. They even put carpet down so that high heels could not be heard.This resulted in a previously all-white, male ensemble becoming a near 50-50 split of male and female, with a lot more diversity and the sound they wanted for their orchestra.The business case for diversity Organizations are increasingly aware that businesses with more diverse workforces outperform their less diverse competitors. McKinsey’s Diversity Matters report found that companies in the top quartile for gender diversity and ethnic minority board representation became 15 per cent and 35 per cent more likely, respectively, to financially outperform those in the bottom quartile.And a 2012 Deloitte study captured the views and experiences of 1,550 employees at three large Australian businesses operating in manufacturing, retail and healthcare, and identified an 80 per cent improvement in business performance when levels of diversity and inclusion were high.But Yvonne warns that blind recruitment is not a miraculous solution to all diversity challenges. “Generally speaking, making CVs more blind than they currently are is a good thing because it does help mitigate bias. However, blind recruitment is not a silver bullet, neither absolutely right nor absolutely wrong. It is a tool that you can use to create a level playing field, so use it, but use it with caution.” 

View More
24-05-2017
Australian government revamps online government services platform

The Australian government has rolled out a new look and feel for online government services platform, myGov, over the weekend to give Australians a better online experience and easier access to important government services.The government believes that this is a timely revamp, as myGov usage continues to grow. More than 242,000 logins are made every day, which is more than twice as many as 2 years ago.Users can expect to see some noticeable changes to the way myGov looks and navigate the site more easily via their mobiles and tablets, according to the official press release.A partnership between the Department of Human Services (DHS) and the Digital Transformation Agency (DTA) had been set up in an attempt to improve myGov’s service delivery. This was actioned by Minister for Human Services, Alan Tudge and Assistant Minister for Digital Transformation, Angus Taylor.The latest improvements build on changes made last year which created a simpler sign in process and the option for users to unlock their own accounts. This improved usability reduced incorrect logins by 37%.Taxpayers are also benefiting from the improvements, with savings on postage costs having passed $150 million, denoting the increasing popularity of the digital service.Assistant Minister Angus Taylor said: “The new look myGov also demonstrates how the DTA can partner with other agencies and departments to transfer skills and transform delivery.”The Discovery and Alpha phases of the process were completed at the DTA. Digital experts teamed with DHS and Australian Taxation Office (ATO) subject matter experts to do user research and develop a prototype. The joint team then moved across to DHS to deliver the Beta product.The DTA and DHS will continue to work together and carry out further research with users to identify further opportunities for improvement. Caption: Assistant Minister Angus Taylor

View More
24-05-2017
Philippines unveils National Cybersecurity Plan 2022

The Philippines’ Department of Information and Communications Technology (DICT) unveiled the National Cybersecurity Plan (NSCP) 2022.This initiative seeks to secure the constantly evolving ICT environment of the country. While there are many benefits for ICT adoption, the DICT believes that “risks and dangers associated with Internet usage are rapidly increasing”. The unprecedented growth of ICT requires the right amount security to enable freedom, while also maintaining its defence, according to the DICTThe ComeLeak incident, said to be the biggest data breach in Philippine government history — having affected an estimated 55 million voters — sent an alarming wake-up call to tighten security measures.NCSP 2022 is the DICT’s response to addressing cybersecurity vulnerabilities. Intended to serve as a roadmap for key ICT stakeholders to take part in policing and safeguarding the cyberspace against cyber threats, its primary goals are as follows:Assuring the continuous operation of the nation’s critical “infostructure”, public and military networks Implementing cyber resiliency measures to enhance the nation’s ability to respond to threats before, during and after attacks Effective coordination with law enforcement agencies A cybersecurity educated society with capacity-building efforts to be undertaken to support the development of cybersecurity professionalsThe NCSP is purposed to provide the foundation for policy-making efforts on cybersecurity, covering the details of the implementation plan. Still a work in progress, the plan will be reviewed concurrently alongside its implementation for improvement.“This is only the beginning of keeping a cybersafe country,” Assistant Secretary for Cybersecurity and Enabling Technologies, Allan Cabanlong, said.The Philippines’ state of cybersecurity is still in its infancy stage, but a mature cybersecurity state can be achieved through a collective national effort between and amongst the government, private sector and individuals, according to the DICT statement.

View More
24-05-2017
Hong Kong’s unemployment rate remains at 3.2%

Hong Kong’s unemployment rate stood at 3.2% in February - April 2017, same as that in January - March 2017, according to the Hong Kong Census and Statistics Department.The underemployment rate also remained unchanged at 1.2% in the two periods.Comparing February - April 2017 with January - March 2017, movements in the unemployment rate and underemployment rate in different industry sectors varied, but were all small in magnitude.Total employment decreased by around 5,700 from 3,822,400 in January - March 2017 to 3,816,700 in February - April 2017. Over the same period, the labor force also decreased by around 3,500 from 3,947,400 to 3,943,900.The number of unemployed persons (not seasonally adjusted) increased by around 2,200 from 125,000 in January - March 2017 to 127,200 in February - April 2017.The number of underemployed persons in February - April 2017 was 48,800, about the same as in January - March 2017 (49,000).State of full employment"The labor market remained in a state of full employment in February - April 2017,”    says the Secretary for Labour and Welfare, Stephen Sui.The seasonally adjusted unemployment rate and the underemployment rate held steady at low levels of 3.2% and 1.2% respectively. Both total employment and the labour force continued to show sturdy growth over a year earlier, at 1.1% and 0.9% respectively."While there were only small movements in the unemployment rates of most of the major economic sectors when compared with the preceding period, the unemployment rates of many sectors were lower than their year-ago levels alongside the improving economic conditions on entering 2017.“Specifically, thanks to the continued recovery of inbound tourism, the unemployment rate of the consumption- and tourism-related segment (viz. retail, accommodation and food services as a whole) at 4.7% was 0.6 percentage point lower than its year-ago level."Tight labor marketOn the short-term outlook, Sui said, "The labor market is expected to remain tight in the near term. Yet, as the external environment is still clouded by various uncertainties, we will stay vigilant and monitor the developments closely."Sui said that the Labor Department (LD) would continue to offer a variety of free and comprehensive employment services for job-seekers with different employment needs, including the youth, the middle-aged and persons with disabilities.The Youth Employment and Training Programme (YETP) of the department provides comprehensive training and employment support to young school leavers aged 15 to 24 with educational attainment at sub-degree level or below.In April 2017, LD launched a new employment project under YETP called "Career Kick-start" to provide youths with special needs with 12-month on-the-job training through placements at non-governmental organizations with a view to enhancing their employability.In terms of large-scale job-fairs, the LD will stage the "Opening Up a New Terrain Job Fair" at Hong Kong Cultural Centre in Tsim Sha Tsui on June 1 and 2. About 40 employers will participate in this event, offering over 2,200 job vacancies with some suitable for post-secondary education and fresh graduates.The LD will co-organize the Hong Kong International Airport Career Expo 2017 with the Airport Authority Hong Kong at the Hong Kong Convention and Exhibition Centre from June 9 to 11 during which many vacancies involving the aviation industry and airport operation will be offered. 

View More
24-05-2017
Study shows a wide gap in views on work-from-home policy

Work-from-home is one of the prime workplace debates lately and there exists a huge perception gap between employers and employees when it comes to having or not having a recognized work-from-home policy.According to a survey of over 1,100 employees and almost 800 employers by TimesJobs, nearly 60% organizations do not have a formal work-from-home policy. Incidentally, 75% employers are not even comfortable with this idea, whereas 90% employees are keen on having such a policy at work.“To survive in today’s competitive business world, companies need to transform from a command & control culture to an empower & enhance value system,” says Ramathreya Krishnamurthi, Business Head, TimesJobs.“Organizations that are able to create a culture that nurtures agile, high-performance teams will thrive. Policies such as work-from-home and flexi-working create a culture of trust and communicate the company’s belief in its high-performance employees, which in turn attracts and retains top talent.”Productivity & Performance MismatchThe TimesJobs study further reveals that 70% employers still believe that productivity gets hampered when employees work from home. Contrary to this, 44% employees feel that work-from-home helps boost productivity. Also, 80% organizations say no to work-from-home as they say that they have no tracking mechanisms to manage workforce who opt for it.Risks outweigh BenefitsAbout 40% employers see a lack of control as the biggest challenge of a work-from-home policy, reveals the TimesJobs survey. Resistance from top management in acceptance and implementation of work-from-home strategy is another big challenge cited by 30% surveyed organizations. Lack of employee interest for work-from-home options is stated as a deterrent by 5% employers.Though, employers do believe that work-from-home has certain benefits. Nearly 40% see its biggest impact in boosting their employer brand, 30% see it as useful in curbing attrition and another 30% find it beneficial in improving employee productivity which is further linked to organizational output and profitability.Roles are not SuitableMoreover, 25% employers believe that there are many jobs, which are not conducive to work-from-home arrangements and that is a hindrance in creating such a policy. Of these employers, 42% say work-from-home doesn’t not work well in IT related areas of work, 40% say it is not practical for logistics, supply chain management and procurement roles and another 40% find it is not useful in customer service functions.Nearly 35% employers feel work-from-home policy is unsuitable for those working in hospitality and related domains, another 35% say this for administrative profiles, 30% feel it doesn’t work well for engineering profile, 25% see it inappropriate for accounting and finance roles. For 10% work-from-home is useless for sales, business development roles and for 5% it is irrelevant for those working in entertainment, media and journalism segments.Future OutlookAmid all these reservations about work-from-home, while 35% organizations are unsure of adopting any such policy in near future, 40% employers say they already have a work-from-home policy but they will modify it to suit the changing needs of employees. And 25% organization plan to implement this policy in near future.

View More
24-05-2017
Everex launches mobile blockchain-powered microfinance and fiat transfer platform

Everex, a company that develops applications based on the Ethereum blockchain, is expanding its operations towards global, blockchain-enabled microcredit and fiat remittance services. In a blog post announcing the new service, the company stated that it seeks to connect two billion un- and underbanked individuals to the global financial system, by allowing them to access affordable instant micro-credit and global fiat transaction services from mobile devices. Everex mobile fiat transactions are based on the company’s already existing Cryptocash service and its mobile Ethereum wallet. Cryptocash is an Ethereum ERC20 token family, pegged to fiat currencies and tradable on the Everex Wallet, as well as on third-party applications and exchanges. With the new product launch, Cryptocash will be redeemable against its fiat counterpart at ATMs, currency exchangers, and mobile service providers worldwide, allowing users to instantaneously transfer fiat money anywhere at extremely low costs.   The Everex remittance system was already tested last year, allowing hundreds of migrant workers to transfer an aggregate amount of 850,000 THB from Myanmar back home to Thailand.  The new service will also allow users to request micro-loans in any currency from their mobile phones. The credit scores, necessary to assess interest rates, loan periods and risk, will be automatically generated on the spot, based on user behavior, social data, and spending patterns, which Everex collects through the company’s mobile wallet application. “Generating credit scores on the basis of mobile data will allow us to serve the microfinancing needs of many un- and underbanked individuals which, due to the often deficient documentation and track records in the developing world, had until now no access to affordable credit, ” said Alexi Lane CEO and co-founder of Everex. The seed capital to launch Everex’s micro-lending operation will be raised in an Initial Coin Offering (ICO) this summer. The company will use profits, not directly reinvested in growth, to buy its tokens (EVX) back from the market - insuring that the company’s success is shared with token holders.

View More
24-05-2017
Colt to optimize low-latency network route between stock exchanges in Tokyo and Chicago

Colt Technology Services has announced newly optimized low-latency network routes linking stock exchanges in Tokyo and the Chicago Mercantile Exchange, which will be available from May 23, 2017.The enhancements aim to benefit traders in Chicago who require fast connectivity to Tokyo, or exchange venues in Tokyo that require low-latency connectivity to Chicago.Connectivity will be provided through the company's private Ethernet-based Colt IQ Network*. Latency between Tokyo and Chicago is expected to reach a speed of 121.07ms between each endpoint after network optimization.Exchange venues across the globe will be able to utilize Colt’s ultra-low-latency network that links financial markets in Japan and America. Enterprises in other industries that require leased bandwidth, advanced security, and low-latency Ethernet services are also expected to benefit from these optimizations. Colt’s multi-lingual support team will handle global demand.Bandwidth is selectable from a range of 1Mbps to 10Gbps, and offers optional protection/redundancy.Colt has also commenced optimization of other key routes in the Asia-Pacific region. Colt’s network is configured to be fully redundant, from the infrastructure and backbone to the local loop. Point-to-Point, Point-to-Multipoint, and Multipoint-to-Multipoint topology options are available. Colt's services are based on MEF9 and MEF14, and come with industry-leading SLAs covering performance and delivery.  

View More
24-05-2017
NEX Optimisation tests SaaS AI product for FX and cash equities on the distributed ledger

NEX Optimisation, which helps clients reduce complexity and optimise resources across the transaction lifecycle, has built the underlying architecture for NEX Infinity, a SaaS platform which will transform the delivery of NEX Optimisation’s services to clients.From July 2017, clients will be able to start testing spot foreign exchange (FX) and cash equities in the NEX Infinity distributed ledger.NEX Infinity aims to help clients address challenges with fragmented data; complex legacy systems and processes; mass reconciliations; ongoing regulatory demands; a proliferation of vendors and high risk and capital costs. The product aims to  simplify trade processing, give clients’ control of their data, and help them reduce costs and optimise their risk and capital across the transaction lifecycle. This is expected to help clients grow their revenue by delivering their own services through a single connection and enriching their trusted data set.NEX Infinity provides a single gateway through which clients will be able to connect once to access NEX Optimisation services. An open and layered micro services architecture ensures interoperability between platforms and services and gives clients the agility to access not only NEX Optimisation services, but also to permission third party service providers to deliver services to their data on the NEX Infinity platform. By bundling together a variety of services, NEX Infinity helps clients meet all of their trade and portfolio processing needs throughout the transaction lifecycle in one place, while the application of artificial intelligence and distributed ledger technology allows continuous enrichment to their own trusted data.Having built the minimum viable product in March, NEX Infinity will move into production testing with clients in July 2017 for FX and cash equities matching, allocations and confirmations on the distributed ledger.After signing a single Master Services Agreement to access NEX Infinity, clients will be on-boarded to the platform, where they will be able to test and interact with their data. Adoption of the new technology requires minimal effort from clients who on request, will be automatically migrated to the NEX Infinity platform. Duco’s artificial intelligence reconciliation tools will be utilised to perform the reconciliation of old and new technology for clients.NEX Optimisation plans to bring additional services onto NEX Infinity for production testing by autumn 2017. Future releases will include additional asset classes and ensure connectivity to third parties. 

View More
24-05-2017
Diebold Nixdorf partners Kony for mobile transformation in financial services and retail

Diebold Nixdorf has partnered enterprise mobility and application firm Kony to offer white label mobile application solutions for financial institutions and retailers.The mobile application suite, named DN Mobile, aims to enable a unified and personalized experience using cross-platform data and integrating multiple channels to drive connected commerce.The partnership will focus on the following core areas, with the aim to address key mobility trends around consumer loyalty and digital experiences: ·        Move to the next generation of mobile applications: DN Mobile will have a pre-packaged option, as well as a build-your-own toolkit to empower financial institutions and retailers to innovate quickly and better engage with their customers.·        Engage the API economy: An open services-oriented application platform will facilitate new types of collaborations with payment providers, merchants and FinTechs.·        Transcend legacy channel silos: Integrated software product lines will enable connected commerce across self-service, POS, branch and digital channels.“This partnership marks a transformative moment for the industries we serve.  We are extending our leadership in systems of engagement all the way from the branch and store through to cloud connected mobile applications for the consumer,” said Alan Kerr, senior vice president, software, Diebold Nixdorf. “This extended reach into mobile applications will blend channels together in innovative new ways and propel our vision of connected commerce into the marketplace.”In conjunction with the partnership, Diebold Nixdorf is investing in a minority equity stake in Kony and will have a seat on its board of directors. Financial terms of the investment are not being disclosed.

View More
24-05-2017
Patching and awareness not the answer to WannaCry and clones

For years security experts tout the importance of patching software regularly to mitigate against the risks of enterprises falling victims to cyberattacks. For sure there continues to be merits in light of the inability of software developers to plug all potential weaknesses within their software, and firmware, efforts.Indeed following the much publicized WannaCry (WannaCrypt) malware attack of May 12, it stands to reason that many enterprises have gone to the exercise of updating their systems with software patches provided by Microsoft and everyone else exposed to the SMB vulnerabilities.Bad newsBut just as financial institutions are recovering from the rush to update software, WannaCry 2.0 has been spotted out in the wild. Dubbed EternalRocks, the developers of this variant of WannaCry 1.0 have learned their lesson from the first generation. This time around EternalRocks exploits seven (7) Server Message Block (SMB) protocols instead of just the two with WannaCry. It also doesn’t have a kill switch which means security experts will likely have a tougher time stopping this when it blows.Good news?And herein lies the good news – sort of! For now, EternalRocks is still dormant. Perhaps before it explodes, it is time for security to get updated again to detect the new EternalRocks.Jerry Tng, iVanti’s vice president for APAC suggest four ways companies can protect themselves:This ransomware attacks through phishing or other social engineering email. Train staff not to click on unknown or malicious email. Update your Microsoft patches immediately—specifically MS17-010 which will slow proliferation of the ransomware. Run effective antivirus software on all endpoints. If your virus definitions are one week out of date, the AV will not recognize this ransomware. Restrict administrative privileges and allow only whitelisted software to run. This malware would not be as successful if it did not have access to admin privileges, and it would not run at all if it weren’t in the allowed whitelist of software.Patching may not be the best answerIDC says patching systems and preaching to users may be prudent actions to take but the reality is these have proven ineffective over time. The new report, Pursue Patch Independence: Latest WannaCry Event Prompts Need for Risk-Based Defenses (IDC #US42570717), assert that to achieve patch independence, organizations must take a more realistic and cost-conscious strategy that favors more effective approaches and alternatives than available today."It should be obvious to anyone preaching patch and security awareness that we have hit the limits of their effectiveness. It's time to find cost-effective, scalable solutions that gain us patch independence and cover the final mile of security," said Pete Lindstrom, vice president, Security Strategies with IDC's IT Executive Programs.Organizations must take a risk-based approach to security that involves evaluating the practices and solutions in all identity, vulnerability, threat, and trust management domains.Feature photo courtesy of iStockPhoto Caption: photo courtesy of iStockphoto

View More
CyberLink Vol.104 April 2017

Cyberport launches new strategic plan to drive digital tech as an economic driver for Hong Kong  

Read More >
CyberLink Vol.103 March 2017

Cyberport collaborates with the Government in staging the 2nd edition Internet Economy Summit 2017

Read More >
CyberLink Vol.102 February 2017

Cyberport’s popular Career Fair returns on 4 March

Read More >