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UNIT4 SOFTWARE TO UNDERPIN IT TRANSFORMATION AND DRIVE CHANGE FOR THE REPUBLIC OF CYPRUS

Unit4, a world leader in enterprise systems for services organisations, has been chosen by the Republic of Cyprus to help standardise and modernise its IT systems for finance, budgeting, HR, payroll provision and pensions administration. Unit4 and its partners, Grant Thornton Cyprus and GCC Computers Ltd, will deliver Unit4’s Business World platform as part of an IT transformation that is vital to the Government as a key enabler of change and financial reform and integral to its long-term transformation strategy.

Unit4 Business World will be used by the central government of the Republic of Cyprus, driving transparency, improved financial management and control, and ensuring compliance with increasingly stringent local, EU and international public sector regulations, accounting policies and standards. It will be used by approximately 150 public authorities to serve over 8,000 core users in both the English and Greek language, together with some 70,000 self-service users.

‘’Unit4, Grant Thornton Cyprus and GCC Computers Ltd delivered a thorough response to our detailed requirements,’’ said Mrs Rea Georgiou, Accountant General of the Republic of Cyprus. ‘’Using Unit4’s modern ERP technology, coupled with business process re-engineering, we can automate and simplify our business and financial management processes, saving both time and money. We’ll find new efficiencies, so we can do more with less, and automate more administration, freeing time for managers and employees to focus more on valuable work. In addition, our public officials will benefit from improved visibility and access to data supporting faster and better decisions that will improve services to the Republic of Cyprus.’’

As well as rich functionality and user experience, Unit4 Business World offers the Republic of Cyprus a future proof solution that is easy to change, without the need for costly and disruptive re-programming. This ease of use, flexibility and agility is important as the Government plans for future growth, diversification and increasing regulatory pressures.

‘’The ability for the Republic of Cyprus to ‘own’ change through our fully configurable ERP platform will significantly reduce the total cost of ownership and empower them to manage change more effectively across all operational areas,’’ said Derren Nisbet, Regional President at Unit4. ”In addition, the shift towards self-service and Unit4’s unique self-driving ERP functionality will simplify their financial management and business processes and improve the user experience, maximising adoption of the new system among their diverse user groups.’’

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BATTLEFACE RECEIVES INVESTMENT FROM FINTECH VENTURES FUND

battleface Inc., a rapidly growing tech-enabled insurance startup focused on providing travel insurance products for unconventional travellers worldwide, announced today that it successfully closed its seed financing round with backing from leading strategic and venture capital investors.

 

Atlanta, Georgia-based Fintech Ventures Fund has invested in the company, joining existing investors Greenlight Re and Tangiers Group. This investment will be used to expand software development, hire sales and business development personnel, and further the company’s global reach.

 

Sasha Gainullin

battleface is led by a team of travel insurance experts. CEO Sasha Gainullin previously developed global operations for AIG Travel Guard and has worked with battleface since its inception. Managing Director Paul Simmonds brings experience as a Lloyd’s of London underwriter with previous leadership roles at Berkley Syndicate, CNA Hardy, Brit, and Goshawk.

 

“We got our start because many travellers couldn’t find the right insurance products with coverage for their unique travel destinations and real needs,” said Gainullin. “With the latest investment from Fintech Ventures Fund, we’ll continue to expand our B2B partnerships custom-building travel insurance solutions for groups, including business and NGO travellers, associations and membership-based organisations.”

 

battleface combines innovative technology and underwriting to create, distribute and service specialty travel insurance products for people in both retail and wholesale. Products are supported by a network of 24/7 assistance coordinators, medical providers and on-the-ground field agents who provide emergency claims, medical and travel assistance services on a global basis.

 

Fintech Ventures Partner Lucas Timberlake said: “A core area of our fund’s investment thesis is that technology can be leveraged to more efficiently provide insurance products to markets that have been underserved by current offerings. We believe that battleface’s seasoned management team will create an industry leader in the travel insurance space. It is for these reasons that we are excited support the company’s future growth.”

 

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VANQUIS BANK PARTNERS WITH HOOYUTO DIGITALISE KYC PROCESSES

HooYu KYC digital journey deployed during the customer lifecycle on a risk-based approach

 

Leading customer onboarding and KYC technology firm, HooYu, has announced a partnership to digitalise Vanquis Bank’s KYC processes.  The HooYu KYC journey has been selected to provide additional identity proofing during the customer lifecycle when customers perform a potentially high-risk action on their accounts.

 

Vanquis Bank is part of the Provident Financial Group, a UK and Ireland business with over 140 years’ experience in lending to consumers who are not well served by mainstream lenders. With millions of customers, Vanquis needed to find a way to help balance fraud prevention and KYC with a great customer experience.

 

Existing customers calling in to the change the details on their account were in some cases having to wait weeks before the change could be approved.   The team at Vanquis Bank is continually looking to improve how their products work for their customers and that they are easy to apply for and manage.  Vanquis Bank decided to implement an ID document validation solution that would speed up customer lifecycle management and improve the customer experience.

 

Sue Singleton, Process Change Assurance Manager at Vanquis Bank said, “By adding HooYu to our KYC tools, we can improve some of our higher risk customer processes and can now facilitate customer requests without asking the customer to post in copies of documentation. Our agents deal with thousands of customers a day and now what could have been a delay of weeks for our customers, can be achieved in a matter of minutes with HooYu”.

 

David Pope, Marketing Director at HooYu said, “It’s been great to see the results of Vanquis implementing the HooYu digital journey and how the HooYu UI and UX tools are helping their customers though the KYC process.”  

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