Category Archives: Spirituality & Money Gate

VALITOR GRANTED EUROPEAN ELCTRONIC MONEY INSTITUTION (EMI) LICENCE, ENSURING POST-BREXIT SECURITY FOR PARTNERS

VALITOR GRANTED EUROPEAN ELCTRONIC MONEY INSTITUTION (EMI) LICENCE, ENSURING POST-BREXIT SECURITY FOR PARTNERS
21 May 2017

Valitor, a global leader in Fintech payment services provision, has been awarded an Electronic Money Institution (EMI) licence in the United Kingdom. The EMI licence underlines Valitor’s position as a leading provider of card services operating in the financial centre of Europe. The licence adds to the passporting capabilities of Valitor to ensure financial transactions across borders, regardless of Brexit negotiation outcomes.

Operating throughout the European Union, Valitor has a depth of experience of working in cross border financial marketplaces and recognises that the EMI licence offers future security for transactions regardless of Brexit implications. With further applications for principal memberships of both Visa and MasterCard in the UK, Valitor continues to be well placed to serve its partners throughout the EEA.

“The granting of the EMI licence is a significant enhancement to Valitor’s position as a key provider of card issuing and acquiring services to businesses operating throughout the EEA. It is a clear endorsement of Valitor’s proven and respected abilities in the rapidly growing payments sector. The granting of the licence coupled with Valitor’s recent acquisition of IPS Ltd in the UK underpins our ambitious growth plans for the second half of 2017,” commented Vidar Thorkelsson, Chief Executive Officer.

Being a regulated entity shows that the partners interest is at Valitor’s core. Gaining authorisation requires firms to have controls, policies and procedures in place which have been sanctioned by the Financial Conduct Authority (FCA), and can be considered robust and strong. By ensuring that the business is regulated and licensed to trade, Valitor’s presence in a post-Brexit Europe is underlined.

Valitor is pleased to announce their regulation under the EMI licence scheme and will continue to offer secure, regulated payment services to partners throughout the EEA. Valitor has been growing rapidly outside Iceland since 2013, most notably in the UK, Ireland and the Nordics. Valitor provides merchant customers and major payment partners with a state-of-the-art payment system adapted to each customer with standardised API integration, all led by a strong, customer-centric approach.

EMI authorisation allows the issuing, distribution and redemption of e-money throughout the EEA; regulatory financial services offered in the UK are supervised by the FCA. The issuing of e-money and the related payment services fall under the Electronic Money Regulations 2011 and Payment Services Regulations 2009, and require approval by the regulator before they can be offered.

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Clear Company welcomes increase in boardroom diversity

HR and diversity consultancy, the Clear Company, welcomed the news that women now hold one fifth (20.3%) of board seats, up 2% from 2015 according to a recent report from Deloitte. It also found that those businesses with top female executives have twice as many female directors as firms which are run by men.

Kate Headley, Director at HR and diversity consultancy, The Clear Company commented on the report’s findings: “This is very positive news that women are occupying more of the boardroom jobs in business and it allows other women the chance to ‘see it to be it’; that is giving women the role models needed to encourage them to move into the top jobs.

“However, the report also found that only 3.1% of board chairs are women, so there’s still a long way to go before true parity is achieved.

“The inroads that are being made need to reflect a firm’s culture and that is often the easiest way to bring about the change that is required. Success breeds success, and creating the right environment for people to add value, should be the way forward.

“Often it’s about creating the right tone in a working environment. Creating an ‘authentic diversity voice’ will go a long way to both help select and recruit not only the best qualified but also those most in-tune with the firm’s brand. Bringing the values of a brand and matching it to a potential employee’s ‘fit’ regardless of gender, age, or diversity will help to differentiate one employer from another.

“The quota question, as championed by the 30% Club Club and others, still has not gone away. As former City of London Lord Mayor Fiona Woolf said ‘It’s all taking too long. Why not have quotas for a bit?’ While the answer may have changed, the debate still continues. Recent government initiatives, such as the 2016 Hampton-Alexander review to tackle diversity are to be welcomed, with pipeline and contingency planning of those roles below board level nurturing up and coming employees and recruits.

“Firms need to look at their employee demographics when succession planning and considering their recruitment campaigns. With the growth in evidence clearly showing that a more diverse workforce will reap better business rewards, there is every reason to welcome this increase in women’s roles at the top.”

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Judith Dow
BlueSky PR
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LANSA Mitigates the Risks of Shadow IT with Free Consultancy Service

LANSA (www.LANSA.com), the low-code application development platform vendor, has launched a free consulting service for UK based organisations struggling to manage Shadow IT practices. Shadow IT is any unofficial application development project commissioned or executed outside of the IT department’s formal control or plan. LANSA’s free consulting offer comprises 3 free days of requirements analysis and prototyping to illustrate the speed at which solutions can be delivered through approved IT channels. The service will enable IT management to identify the means to deliver on departmental requirements fast, thereby avoiding the risks associated with Shadow IT practices. This provides IT managers with more options to meet the demands of their business and to do so rapidly.

Shadow IT can deliver real value to an organisation; it can reduce the load on the IT department, letting lines of business achieve their goals quickly. However, understanding which projects are right for a Shadow IT approach, and which present risk, is not always clear. Complex projects, such as those requiring integration with other databases and applications, and those involving sensitive data should be delivered by the IT department. The challenge comes when the IT department is overburdened and unable to deliver applications on time.

Unchecked, Shadow IT can pose myriad risks. Application usage can spread to greater numbers of users than intended, and performance can be crippled. There can also be a need to integrate Shadow IT developed apps with existing systems over time. This can be hard to execute outside of IT’s control. In addition, data usage by Shadow IT apps can violate privacy laws and sensitive data can be leaked.

Gartner’s 2017 Application Architecture, Development and Integration Summit in London highlighted a 2015 Cisco study indicating that Companies are using up to 15 times more cloud services to store critical company data than CIOs were aware of or had authorized. Supporting that claim, an NTT report in April 2016 indicated that 77% of business decision makers admitted to using a third-party cloud application without the approval or knowledge of their IT department.

With Gartner estimating that by 2020, one third of successful attacks on enterprises will be through Shadow IT doors, LANSA believes that it is imperative that organisations both tackle the pressures that prevent them from delivering the applications the business needs though formal channels, and create formal guidelines for projects developed outside of the IT department’s control.

“Many IT departments are struggling to deliver mobile applications, get cloud-ready or drive other digital transformation initiatives. In parallel, a significant percentage of their time is spent on maintenance and support. Inevitably an application backlog accumulates, and Shadow IT is often the business response. Line mangers, puzzled at the delays and costs quoted by IT, do what they believe is right for their own area of the business. Shadow IT solutions seem to offer an answer, but managers don’t always appreciate the risks or complexity involved” said Martin Fincham, CEO at LANSA.

“Our new free consulting service will help organisations find a way to deliver applications faster, using fewer resources, by using LANSA’s Low-Code solutions. We want to help to stop IT being viewed as the department of ‘No’. It is another tool in the armoury to help IT maintain its position as a key driver for growth, rather than an obstacle to it. “

Those interested in the new free service can find out more at: http://info.lansa.com/ShadowIT

LANSA has also written an executive blog on Shadow IT – you can read it here:

http://blog.lansa.com/application-development/shadow-citizen…

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About LANSA (www.LANSA.com)

LANSA is the original low-code, rapid application development tool for Mobile, Web and Cloud developers. Over 7,000 customers trust the LANSA platform to develop Enterprise apps at the speed of low-code. LANSA provides a single-language IDE to generate the client-side, the server-side and everything in between. A LANSA user is in effect a full stack developer. LANSA brings 30 years of expertise in application development and integration solutions and services that dramatically improve developer productivity.

Editors Contact:
Americas: Ali Bolin
+1 630 874-7045
ali.bolin@lansa.com

Asia Pacific: Marjanna Frank
+61 2 8907-0200
marjanna.frank@lansa.com.au

EMEA: Ian Piddock
+44 1727 790-386
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