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news


IBS Journal April 2016


In brief


UK financial data outfit Markit is merging with US rival IHS to create a London-headquartered “global leader in critical information, analytics and solutions”. The pair have reached definitive agreement for an all-share merger of equals to create a company with a combined market capitalisation of £9 billion.


IHS shareholders will own approximately 57% and Markit


shareholders approximately 43% of IHS Markit on a fully diluted basis. Jerre Stead, IHS Chairman and Chief Executive Officer, says: “This transformational merger brings together two information-rich companies to create a powerful pro- vider of unique business intelligence, data and analytics to a broad and complementary customer base. IHS Markit and its shareholders will benefit from enhanced product innovation to deliver strong returns across economic cycles. Importantly, the two companies are values-based organisations that have a strong cultural fit which focuses on customer satisfaction and colleague success.” US-based Vibrant Credit Union has completed its con- version to Fiserv’s DNA account processing platform. Matt


McCombs, president and CEO of Vibrant Credit Union, says: “With DNA, we’ve gained agility and flexibility, and can customise the platform in minutes compared to weeks or months with our old system.” Vibrant has also implemented a number of integrat-


ed solutions from Fiserv including the CRM and Business Intelligence suite, Digital Document, tMagic teller capture, Credit Card Management and other card solutions, Prologue accounting suite, Vantage Risk & Budgeting Manager, and item processing. Commonwealth Bank of Australia and Kounta have


partnered to add a new point of sale app to the former’s Albert EFTPOS tablet. Hospitality businesses using Koun- ta on Albert can now accept payments, manage tables, take customer orders, split bills and update inventory levels at the same time, from one device. The solution also integrates with customer loyalty, accounting, inventory, rostering and payroll applications.


Scott Thompson and Alex Hamilton


Santander InnoVentures backs blockchain surveillance venture


Blockchain startup Elliptic has closed a $5 million Series A funding round led by Paladin Capital Group, with participation from Santander InnoVentures, KRW Schin- dler, Digital Currency Group, and existing investor, Octopus Ventures. Christopher Steed, Managing Director of Paladin Capital Group, will join Elliptic’s board of directors alongside Octopus Ventures, and Santander InnoVentures will join as a board observer. The London and New York-based


venture launched in 2013 and uses graph analysis and machine learning to identify il- licit activity in blockchain transactions. The firm claims that the top US and European Bitcoin exchanges and payment processors have adopted its compliance and fraud detection technology, using it to assess risk on more than $2 billion in Bitcoin transac-


tions. Elliptic has also provided law enforce- ment agencies in the US and Europe with actionable evidence on crimes involving international arms trafficking, drug sales, extortion, theft and money laundering. “Distributed ledger technology, including blockchain, has huge potential to deliver cost savings and new ways of working across the global banking industry – but most blockchain applica- tions today are still in the proof of concept stage,” says Mariano Belinky, Managing Partner of Santander InnoVentures. “For distributed ledger technology to achieve widespread use, compliance departments and regulators will demand independent monitoring capabilities to combat insider trading, fraud, and money laundering. Elliptic is an authority in this area. We are delighted to be working with the team to


Challenged in your Core Banking upgrade? IBS launches IBS Chat


help realise the potential of this exciting new technology.”


Scott Thompson


IBS Intelligence has launched its IBS Chat Forum, a global platform to bring industry participants together on everything related to banking and financial services technology. Log on to www.ibsintelligence.com/ibschat and connect with peers across the globe now!


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