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OMNIO HOLDING SÀRL BOLSTERS EXECUTIVE TEAM BY APPOINTING ROBIN DEAR AS CFO

Omnio Holding Sàrl, the holding company of Omnio Group, today announced the appointment of Robin Dear as its Chief Financial Officer (CFO), effective June 10, 2019.  Omnio is an advanced public cloud core banking platform that provides flexibility and omnichannel functionality across retail and digital channels for banks and non-banks.  

Robin Dear, who will also sit on the Omnio Board, brings extensive experience and in-depth knowledge of the financial services arena to the role, with an executive leadership career spanning some 22 years. He joins Omnio from Cashplus Group where, as CFO and Founder Member, he supported the business as it grew from a start-up to a major challenger to the high street banks. Robin remains an NED of APS Financial, the regulated subsidiary of Cashplus Group.  

Prior to Cashplus, Robin Dear worked for Citigroup as Vice President for Finance for Citibank Diners Club, as well as Universal Music Group, where he was Finance Director for their distribution arm, Britannia Music. He has an MBA from Henley Management College and a Business Studies degree gained at West of England University.  He is also a Fellow of the Institute of Management Accountants.

The appointment comes at a valuable time as Omnio gears up for growth in the fast-evolving banking and financial services sector globally. The global fintech sector is expected to maintain a compound annual growth rate (CAGR) of 74.16% through to 2025, driven by growing internet penetration around the world, as well as the increasing availability of spatial data. To benefit from this impressive growth, traditional high-street banks and non-banks looking to enter the financial services space increasingly need support from specialists in providing omnichannel banking functionality.  It is Omnio’s mission to supply these new foundations for banking to its clients in the UK, throughout Europe and Australia. 

Scott Lanphere, Chairman of the Board at Omnio, commented: “Robin brings with him formidable experience that will benefit Omnio as it grows into the future. His dedication to nurturing the businesses in his care, and his proven ability in leading compliance and risk management, as well as his strong financial management, have led to impressive results throughout his career. His expertise and insight will be crucial as we cement Omnio’s position in the banking and fintech industry and work towards the company’s ambitious growth goals.”

Robin Dear added: “Omnio has built a unique and impressive banking and fintech business, offering a proven track record for making financial innovation simple for brands around the world. I’m excited to have the opportunity to leverage Omnio’s unique cloud core banking platform to identify new areas of growth for the business. I am looking forward to getting to know everyone on the team and playing my part in taking Omnio to the next stage in its evolution as a leading fintech business.”

Robin joins the business as the shareholders look to expand the leadership necessary to scale the company. Robin’s appointment is particularly poignant given the vacancy left by the departure of the Chief Executive Officer (CEO) of Omnio. Ian Clowes served as CEO of Omnio during a crucial transition with the merger of PCT and Tuxedo. Omnio looks forward to his continued support as a Director of the company.  Omnio will be announcing a new CEO to further strengthen its executive team in the next few months.

To find out more about Omnio Holding Sàrl visit: https://omnio.global

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AWS AND HSBC REACH LONG-TERM STRATEGIC CLOUD AGREEMENT

One of the world’s largest financial services organizations collaborates with AWS to deliver new products, enhance customer experiences, and drive digital transformation

Today, Amazon Web Services (AWS), an Amazon.com company, announced that HSBC Holdings plc has selected AWS as a key, long-term strategic cloud provider to drive their digital transformation and deliver new and personalised banking services. As part of a multi-year, global agreement, HSBC will make AWS technology available across the bank’s lines of business, starting with customer-facing applications and application modernisation in its Global Wealth & Personal Banking business.

Migrating to AWS will enable HSBC to drive innovation, automate key processes, and enhance operational efficiency across a range of personal financial services. AWS’s global infrastructure will enable HSBC to run and scale applications around the world with the highest availability and reliability. HSBC will use AWS’s extensive portfolio of cloud services, including compute, containers, storage, database, analytics, machine learning, and security, to develop new digital products and support security and compliance standards for millions of personal banking customers worldwide. For example, HSBC plans to use AWS serverless and analytics services, including Amazon Kinesis, to create a more personalised and customer-centric banking experience.

“Our work with AWS is an example of how HSBC continues to invest in secure and advanced technologies to make our digital banking experience even better for customers,” said Dinesh Keswani, Chief Technology Officer and CIO for Digital, HSBC. “Our ambition is to make it easy, safe, and reliable for customers to bank with us, whenever and wherever they are. HSBC’s collaboration with AWS helps us to deliver innovative banking solutions to customers at a faster rate, starting with our Wealth & Personal Banking business.”

“HSBC is continuing to expand its use of AWS to power its digital transformation and deliver innovative financial services that help customers manage, protect, and grow their wealth in new and more personalised ways,” said Frank Fallon, Vice President, Financial Services at AWS. “We look forward to our continued collaboration with HSBC as they leverage AWS’s proven capabilities, reliability, and security to drive efficiency across their business and become a more agile organisation in the cloud.”

 

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THE INVESTMENT IMPLICATIONS OF CLIMATE RISK – AN INVESTMENT MAN-AGER’S VIEW

In the final release of its three part series on climate risk, leading independent fixed income manager, Cameron Hume, looks at how attitudes to climate risk can be factored into long term investment decisions and whether those investment decisions can be used to drive the direction of travel with a global response to climate risk.

 

It is widely accepted that greenhouse gas (GHG) emissions must be decreased in order to avoid a potentially catastrophic increase in global temperature.

 

If we also accept that a global response is required to achieve a global reduction in GHGs, but that countries will act according to their own discretion, then the next piece of information we have is the recognition that companies will face different regulatory and legal regimes depending on which part of the world they operate in.

 

It is a complicated set of factors to consider and it can be tempting to put off any decision making. However, the Financial Stability Board has made it clear that action is required now.

 

The 2017 report by the Taskforce of Climate Related Financial Disclosures (TCFD), stated: “The large-scale and long-term nature of the problem makes it uniquely challenging, especially in the context of economic decision making. Accordingly, many organizations incorrectly perceive the implications of climate change to be long term and, therefore, not necessarily relevant to decisions made today.”

 

In a bid to help navigate the difficult process of taking on appropriate exposure to climate risk, the TCFD recommends the implementation of tried and tested methods that financial market participants are already familiar with. Improving disclosure is a key input to supporting better management of climate risk. The TCFD recommend considering climate risk in a framework consisting of Governance, Strategy, Risk Management and Metrics & Targets.

 

For Cameron Hume, Governance means that there is an agreed investment policy that all stakeholders are in agreement with. Strategy should therefore support development of policy and systems which incorporate informed Risk Management. Metrics & Targets must be built into portfolio measures, client reporting and disclosures to bodies such as the PRI.

 

The Cameron Hume Global Fixed Income ESG Fund, launched in 2018, follows the TCFD methodology while selecting issuers judged to manage their ESG risks better than their peers.

 

Chief Investment Officer, Guy Cameron, explains: “In Cameron Hume’s view, a key indicator of an issuer’s sustainability is the quality of its governance and risk management framework, which we know must take into account climate risk.

 

“A company that already has low emissions will be more likely to maintain low emissions in the future than a company with a stated aim of lower emissions but a bad track record of delivering on promises. Even those who reliably commit to a transition plan require access to significant funds, technology or personnel to make such a major shift in operations.

 

“Similarly, as many governments introduce legislation to reduce GHG emissions, inability to achieve the legally mandated targets may weigh on companies even as they transition.

 

“As the likelihood of governments imposing tough targets on emissions differs from country to country, we believe the best way to manage risk is to invest in the companies with the lowest current net emissions, accounting for gross emissions and mitigating factors. Such issuers will likely have the governance framework, risk management capability and strategy in place to allow them to embrace any new rules effectively.

 

“For these reasons, the Cameron Hume Global Fixed Income ESG Fund favours companies with lower net emissions currently, rather than those requiring significant changes.”

 

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