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Tech News

15-09-2017
Innovation and Technology Venture Fund

The Government has launched the Innovation and Technology Venture Fund on 15-09-2017. It is now open for application by venture capital funds to become co-investment partners (Deadline: 15-01-2018). A briefing session will be held on 03-10-2017 at the Hong Kong Science Park. Interested venture capital funds are welcome to attend.

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14-08-2018
Johnson & Johnson launches Seoul Innovation QuickFire Challenge: Robotics & Digital Surgery

Johnson & Johnson Medical Korea Ltd. and Johnson & Johnson Innovation yesterday announced the launch of the Seoul Innovation QuickFire Challenge: Robotics & Digital Surgery in collaboration with the Seoul Metropolitan Government and Korea Health Industry Development Institute (KHIDI). The challenge invites innovators from around the world -- including start-ups, entrepreneurs, academics, scientists, and biotech researchers -- to submit ideas for robotics and digital health solutions with the potential to help surgeons and their patients. The global competition also aims to help build a digital ecosystem in Korea and around the world where technologies enhance surgical performance, educate surgeons, and guide patients through to full recovery. Up to two winners will receive up to KRW 150,000,000 (~ US$134,000)1 in total grants, one year of residency at the Seoul Bio Hub, one year of mentorship and coaching from experts in science and commercialization at the Johnson & Johnson Family of Companies, and access to the JLABS global entrepreneurial community."The surgical robotics industry is growing fast, and the global market for the industry is expected to reach $12.6 billion by 2025. Korea is an emerging leader in medical device innovation with tremendous potential in the areas of robotics and digital healthcare," said Dan Wang, Head, Johnson & Johnson Innovation, Asia Pacific. "The Robotics & Digital Surgery QuickFire Challenge is a global call for submissions through which we aim to identify great ideas that can make a long-lasting and global impact."The QuickFire Challenges, launched by JLABS – the no-strings attached incubators of Johnson & Johnson Innovation – seek to empower and enable groundbreaking science and health solutions by encouraging students, entrepreneurs, researchers, and start-up companies, etc. to apply. The Robotics & Digital Surgery QuickFire Challenge will focus on the following innovation areas:Pre-op: Apps, Wearables, Planning Software Intra-op: Robotics, Visualization, Neuromonitoring, Imaging Post-op: Sensors, Wearables, AppsApproximately five billion people around the world do not have access to safe surgery. While patient outcomes in surgery have improved over the past decade -- driven by better materials, implant designs, and surgical techniques -- major obstacles still need to be addressed. Surgical patients continue to experience major discrepancies in success, including a 20-40% rate of failed back surgery syndrome (FBSS). Inconsistencies in surgical training and high rates of burnout among orthopedic surgeons are some of the factors contributing to variations in patient outcomes."At the Johnson & Johnson Medical Devices Companies, innovation drives what we do, and the launch of the QuickFire Challenge provides us with a unique opportunity to further improve the standard care for patients and surgeons through collaboration with innovators in Korea and around the world in the discovery and development of digital and robotic surgery solutions." said Euan Thomson, Global Head R&D, Johnson & Johnson Medical Devices Companies.The challenge aims to improve robotics and digital surgery by combining Johnson & Johnson Innovation's unique vision for collaboration in an open innovation model with the Seoul Metropolitan Government's efforts to drive innovation and commercialize its research outcomes; KHIDI's focus on identifying and solving critical problems within the ecosystem with healthcare research and innovative solutions; and Seoul Bio Hub's ability to foster and accelerate the development and commercialization of early-stage life-science solutions in the start-up community."Advancing technology is a tremendous opportunity that can lead the industry to dramatic improvements. An enhanced digital ecosystem will contribute to better surgical outcomes by advancing disease prediction and prevention, and improving personalized treatment and treatment efficiency," said Jae Yoo, Area Managing Director, Johnson & Johnson Medical Devices, North Asia. "Through the QuickFire Challenge, we hope to find solutions that will accelerate the progress of robotics and digital surgery in Korea and globally."The announcement marks the second QuickFire Challenge in Korea, following the launch of the first Seoul Innovation QuickFire Challenge in August 2017. The deadline to submit is October 5, 2018. For more information about the Robotics & Digital Surgery QuickFire Challenge (including the terms and conditions of entry), please visit: http://jlabs.tv/robotics 1 From the KRW 150 million grant, each winner will receive a KRW 70 million cash award and a KRW 5 million free space voucher which must be used toward the rent and utilities at the Seoul Bio Hub for a year

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14-08-2018
Shopmatic offers marketers shortcut to its e-commerce platform

Singapore-based Shopmatic has introduced a new initiative that it hopes to encourage businesses to grow their online presence, as well as to foster entrepreneurship in Singapore.Going onlineThe “Inspiring Entrepreneurship” program will gain access to the company’s Shopmatic Pro solution, which consists of a customizable store builder with payment gateway integration and shipping and logistics integration.Marketers also gain access to data insights through the platform, including relevant marketing tools, all for the cost of SG$10 (US$7.20) for the first six months.The e-commerce company was founded to help business owners sell their products and services online. The Shopmatic platform is tailored for developing markets, and also helps users to list their products on online marketplaces such as eBay, Amazon and Lazada.“The idea of this program is to cultivate and foster an entrepreneurial spirit amidst retailers, individuals and businesses in Singapore regardless of their background. By reducing the investment to set up their stores to $10 during this campaign period, we hope to give these entrepreneurs and businesses a big nudge to create and grow their presence online,” said Avula Avula, Co-Founder and CEO of Shopmatic.“We are also running programs for entrepreneurs across our other markets – Hong Kong and India to help make it even easier for merchants to go online with Shopmatic Pro – and the response has been significant and extremely encouraging,” he said.First launched in India, Shopmatic quickly expanded to Singapore and Hong Kong. With plans to enter other Southeast Asian markets like Indonesia, Malaysia and The Philippine, Shopmatic says it is poised to enter 20 markets by 2020.It points to the e-Conomy SEA Spotlight 2017 report released by Google and Temasek that pegged the growth of the Internet economy in Southeast Asia at US$88.1 billion in 2025, up from $10.9 billion in 2017.Further reading:Mobile and timing are crucial for enhanced online salesOrchestrating an offline-online retail experienceSingles’ Day highlights value of online to offline integration Caption: Image credit: iStockphoto by Getty Images

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13-08-2018
CMHK completes 5G network testing

China Mobile Hong Kong has completed end-to-end 5G network testing, while recent research has found that Hong Kong has a 4G coverage of just over 90%

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13-08-2018
What is CRM? Software for managing customer data

Equal parts strategy and technology, customer relationship management (CRM) is about using data to understand your customers—and boost sales

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13-08-2018
Most common interview questions for IT professionals

Got an IT job interview coming up? Here’s how to prepare

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13-08-2018
Cisco and Arista settle long-running legal battle

Arista has agreed to pay Cisco US$400 million to settle litigation between the two companies

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13-08-2018
Grab and NUS open AI Lab to transform SEA’s cities and transportation

Grab, one of the most frequently used online-to-offline (O2O) mobile platforms in Southeast Asia, and the National University of Singapore (NUS) launched an artificial intelligence (AI) laboratory on 18 July 2018 to develop solutions to transform urban transportation and pave the way for smarter cities in Southeast Asia. The Grab-NUS AI Lab, which has been set up with a joint initial investment of S$6 million (~US$4.4 million), is Grab’s first major AI laboratory and NUS’ first AI laboratory with a commercial partner.Anchored at the NUS Institute of Data Science, the Grab-NUS AI Lab will leverage data from the Grab platform to solve complex, real-world challenges in Southeast Asia. Having facilitated more than 2 billion rides, Grab’s vast troves of data provide deeper insights into how cities across Southeast Asia move today. By combining the data with NUS’ research expertise in the field of AI, and under the supervision of senior Grab research scientists and NUS faculty members, the Grab-NUS AI Lab will map out traffic patterns and identify ways to directly impact mobility and livability of cities across Southeast Asia.Minister for Education Ong Ye Kung witnessed the signing of the Research Collaboration Agreement between NUS President Professor Tan Eng Chye and Anthony Tan, Co-Founder and Group CEO of Grab. He also officiated at the launch ceremony and visited the laboratory. The Grab-NUS AI Lab will focus on improving the efficiency and reliability of transportation on the Grab platform in Southeast Asia’s cities at first, but will expand to research on the larger challenges facing cities in Southeast Asia, such as congestion and livability of cities. Researchers at the Grab-NUS AI Lab intend to create a robust AI platform for large-scale machine learning and visual analytics that can develop novel applications from Grab’s massive data set. For example, assisting transport authorities in monitoring and optimizing traffic flow. The laboratory will also focus on developing algorithms with the goals to:Better serve passengers with smarter and more personalized services, based on insights into their needs, intentions and preferences Match drivers to the jobs they prefer and improve driving safety through better understanding of driver behavior Detect traffic events and anomalies in real-time and improve urban traffic flow Improve precision and accuracy in mapping pick-up points and localizing moving vehicles to help passengers and drivers get from point to point with greater ease and efficiency. NUS President Professor Tan Eng Chye said, “NUS is very excited to be a partner of Grab’s first major AI Lab. The Grab-NUS AI Lab is an excellent collaborative effort where NUS researchers will work closely with Grab data scientists to create unique AI innovations based on insights relevant to Asia and the world. This is also a great opportunity for our researchers and students to make a real-world impact through our research in data science and AI. Over time, we hope to build a healthy pipeline of well-trained and experienced data scientists and AI researchers for Singapore and beyond.”Grab Co-founder and Group CEO Anthony Tan said, “Grab has a bold mission to solve Southeast Asia’s most complex challenges, especially the congestion that stifles our cities. We have come a long way and are now improving lives with an unmatched reach and depth of data on millions of routes, journeys and points of interest. The AI Lab will harness the power of Grab’s data and machine learning with research and talent from a world leading institution, to become a valuable tool for governments who are bringing smarter transport to their cities in Southeast Asia.”Anthony revealed how the insights from the Grab-NUS AI Lab, could make a difference for Singapore starting today: “Data from our Grab platform can map out the traffic patterns and evolution in mobility for cities across Southeast Asia. For example, our data shows that travel time from Newton to Tanjong Pagar can be drastically improved today. If this route would be better served by more shared transport solutions, such as buses, trains, GrabShuttle, GrabShare or GrabHitch, we could bring travel time during peak hour down by 1/3rd or from 40 to 28 minutes. I look forward to working with governments to turn the data from the Grab- NUS AI Lab into solutions.”The AI Lab will also contribute to local AI talent development through the training of PhD students that will be enrolled at NUS. Supported by the Singapore Economic Development Board (EDB), the PhD training program will allow students to not just build the relevant skills, but also apply them to real world challenges through the Grab platform. The Grab-NUS AI Lab is located in the innovation 4.0 building situated on the NUS Kent Ridge campus and will be home to 28 researchers working on various AI projects.

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13-08-2018
AWS equips The Girls’ Brigade Singapore with cloud computing education to create new community services

Amazon Web Services (AWS), an Amazon.com company, recently announced a collaboration with The Girls’ Brigade Singapore (GBS) to equip its 3,600 members with cloud computing education to help prepare them for the new digital economy, and to inspire them to develop technology solutions that could better serve the lonely, elderly, needy, and those with special needs in their communities. The announcement was made at the annual Girls Brigade Friendship Day (GBFD) Carnival on 14 July, where GBS Patron, President of the Republic of Singapore Halimah Yacob, was present as the Guest-of-Honor among an estimated 1,500 guests.Established in 1927 to serve the community in Singapore and beyond, GBS works to holistically develop girls aged 5 to 18 years in the areas of leadership, character, and values development, encouraging them to render service in the home, school, community, and nation. As part of their approach, GBS leverages technology, such as AWS services, to empower girls to embrace cloud technologies to inspire them to serve through innovation, prepare them to be digitally ready for further technical education and employment opportunities with the top jobs in the workforce, and equip them with new and relevant skills.Announced in conjunction with the event was GBS’ new technology-enabled learning initiative Digital Serve (D-Serve). GBS draws on content and expertise from the AWS Educate program for its members and officers to learn the latest cloud computing skills, including artificial intelligence and machine learning. AWS Educate, a global program of AWS, provides learning content, resources, and AWS Cloud service credits for students and educators to gain hands-on experience in cloud computing.Under this program, members of GBS will undergo up to 8 hours of instructor-led classroom training with experiential applied learning and practice. In the classes, members will learn the basics of cloud computing, and the concepts of artificial intelligence and machine learning, including the design of voice-enabled solutions before acquiring practical experience with AWS service credits to build useful solutions for local communities. This means they can learn to make apps and technology solutions that could benefit the community.Upon completion of the program, the members will receive the AWS Educate explorer badge, powered by AWS Educate. The launch of this badge marks the first time AWS has offered such an accreditation with a uniformed group in Singapore.Evangeline Chong, Brigade Commissioner, Girls’ Brigade Singapore, said, “The GB90 vision is to help girls Grow and Go beyond – Extend ● Serve ● Lead. We are pleased to be partnering the various digital and education institutions to align GBS with the national movement of being a Smart Nation, by leveraging on technology to improve our serve, being digitally ready for the future of the work and equipping our girls with new and relevant skills.“We commend the leadership of GBS, who have shown vision and wisdom to encourage their members in learning digital skills that will help them develop innovative and practical solutions for their communities,” said Vincent Quah, Regional Head of Education for Asia Pacific and Japan, AWS. “We are honored to be serving Singapore through the AWS Educate program. By empowering the girls of the GBS, and the young generation with cloud computing skills, we are building a future-ready workforce together, which is critical for Singapore’s economic growth as the nation develops innovation-driven economy.”

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13-08-2018
Swissotel The Stamford ramps up on guest experience with Signify upgrade

Signify has announced the global launch of the company’s new smart system designed to improve guest experiences and improve operational efficiencies at a top hotel in Singapore.A better experienceFormerly known as Philips Lighting, Sigify’s Interact Hospitality system is fully installed and operational at none other than at the Swissotel The Stamford Hotel. It is understood to be the first commercial implementation globally.According to the firm, guests will no longer need a key card to turn things on upon entering the room. Lights come on automatically when they enter and switch off when they sleep. To conserve energy, lights, air-conditioning and other systems shut down when the room is vacated – and will remember settings.Dynamic in-room night lighting sensors will trigger low level lighting to illuminate the floor for increased safety when guests rise during the night, allowing bathrooms lights to be switched off with complete peace of mind for the one in three who leave their bathroom lights on for fear of tripping.Improved operationsFor employees, a central dashboard offers a real-time view of guest requests for quick response and improved service levels. Managers can key an eye on their entire property via the dashboard, while hotel employees now know if a room is occupied and can hence respond quicker to guest requests.Elsewhere, laundry delivery is automatically paused to respect guest wishes when “Do Not Disturb” is set. This saves staff unnecessary trips and time, as well as serving to increase staff satisfaction through more seamless processes.“As a hotel catering for the next generation, we’re constantly looking for ways to improve how we manage our hotels and deliver new value for our guests. This new system helps us to improve levels of service... [and helps] us to eliminate unnecessary work for our staff while enabling them to service guest requests in record time!” said Katya Herting, the hotel manager at Swissôtel The Stamford.“The system reinforces our brand commitment to keep innovating so that we create outstanding guest experiences and overall a better quality of life using seamless and intuitive technology. It has certainly raised the bar for the hospitality industry,” she said.Further reading:Poor customer experience frustrates Singapore consumersFullerton first in S E Asia to digitalize hotel guest compendiumPersonalization in a customer centric world Caption: Image credit: iStockphoto by Getty Images

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13-08-2018
Belt and Road: good for bank professionals, bad for HK banks

Hong Kong’s banking industry is in for even more turbulence in the coming year as banking professionals eye mainland China opportunities on the back of two major projects: Belt and Road Initiative (BRI) and Greater Bay Area (GBA) development.Professions at risk including front office retail banking staff, relationship managers for corporate and financial institutions, and compliance and risk professionals.Dean Stallard, managing director at Hays in Greater Bay Area, refers to the BRI as driving a great deal of recruitment in the area, particularly as this will become the center for financial backing and legal arbitration.“Everyone is talking about Belt and Road, but until very recently not many people have really understood what form it would take. At the end of last year companies were making enquiries, though they were unsure what kind of candidate they required. However, in the last few months, as the initiative has become more concrete, they are increasingly specific, looking for individuals with connections to Vietnam, Thailand and Sri Lanka; countries that will see fervent activity as the project comes closer to fruition,” explained Stallard.China’s ruling elite have high hopes to position Hong Kong as the financial centerpiece for the Greater Bay Area (GBA) project in the Pearl River Delta (PRD). “The Greater Bay Area is an ambitious initiative at which Hong Kong will be the financial heart. This means that there will be an increase in demand for front office bankers with relevant exposure, such as Relationship Managers with connections to PRD corporates or Hong Kong Corporates in the GBA,” Dean added.Credit risk approvers are already proving to be in hot demand noted Wisely Wong, a recruitment manager at Hays Hong Kong focusing on commercial banking and transaction banking.While Hong Kong’s banking industry has always been particularly active, the coming year is expected to become increasingly volatile, meaning that candidates will find 2019 a time to improve their employment situation, and companies will have to act fast to capture the talent that they require.“Candidates are in short supply all across the industry. For lack of a better word, things are crazy right now. And it’s only going to get crazier,” predicted Wong.Banking snapshotDue to the shortage in the candidate pool, companies are showing greater flexibility in the requirements of the individuals they recruit. This flexibility means increased mobility for RMs whose experience is limited to SMEs but are looking to expand their portfolios to include larger institutions in new positions. It also means that candidate ‘jumpiness’ is less of a hindrance to recruitment, with requirements for mid-level candidates remaining in positions for five years reduced to three. In lieu of the larger salaries that candidates are demanding, companies are offering extra benefits including the waving of probation periods and offering additional ‘family friendly’ holidays such as ‘birthday leave’. The implementation of mobile payments, something that is already standard on the mainland, is expected to grow in prominence in the coming year.Caption: Image from iStockPhoto/RichVintage

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13-08-2018
The Donau Chemie Group partners with Kaspersky Lab to boost its cyber-defenses

Employee errors and incidents have, for a long time, made protection from cyberthreats difficult for businesses.According to Kaspersky Lab’s ICS Survey, a quarter of industrial organizations claim they have had at least one cybersecurity incident over the last 12 months because of employee errors or unintentional actions.To avoid becoming a part of this distressing statistic in the future, the Donau Chemie Group has selected Kaspersky Lab as its trusted cybersecurity partner.The Donau Chemie Group, which supports brand owners and retail chains with the production of different chemical materials, has always had cybersecurity at the heart of its business processes.However, with its IT infrastructure steadily growing in complexity, the company started to look for a trusted partner, which could not only provide it with an easy-to-manage, integrated cybersecurity platform, but also motivate employees to close the gaps in their cybersecurity knowledge.After piloting several options, the Donau Chemie Group has chosen the Kaspersky Cybersecurity Awareness Platform to provide its employees with cybersecurity education.The Donau Chemie Group’s priority was to measure the effectiveness of training staff about cybersecurity. Traditional offline education platforms had failed to reinforce technical cybersecurity hygiene skills, and they had not motivated non-IT employees to achieve the desired behavioral changes. Aware of this, the Donau Chemie Group’s IT team hoped that the Kaspersky Cybersecurity Awareness Platform would meet both its education efficiency and success management goals.The Kaspersky Cybersecurity Awareness Platform allows the IT management team to track the learning progress of their colleagues in real-time. With specific exercises suiting various cybersecurity awareness profiles, all users can take part in training and get the skills they really need.The platform not only delivers knowledge, but also helps staff to develop new behavior patterns. After finishing each learning exercise block - which consists of interactive education and simulation – users receive a bug report, so they can learn from their mistakes. An additional advantage for participants is that they do not need to spend much time on training and can tailor their session schedules according to their needs.“With the Kaspersky Cybersecurity Awareness Platform, I am sure that all employees at the Donau Chemie Group will get the skills they need to boost their cybersecurity hygiene levels. As we already have a click rate of less than 2% in phishing tests, we can now think about implementing more sophisticated tests – to reach the next level of cybersecurity awareness and improve the skills of our staff,” said Christian Lang, IT manager at Donau Chemie.With the increasing sophistication of cyberthreats, IT specialists are expected to be cybersecurity-savvy by default. They must know how to be the first line of defense for their company, and effectively evade any kind of cyberthreat they may meet at work. So, on top of Security Awareness Platform targeted at “regular” employees, Donau Chemie uses Kaspersky Lab’s “Cybersecurity for IT Online” training, a relatively new solution to equip IT managers, service desk specialists and developers with practical skills on how to recognize a possible attack scenario in an ostensibly benign PC incidents, respond to it and, when necessary, collect evidence for more in-depth investigations. Improving employees’ cybersecurity awareness is only one layer of defense for businesses to consider. Alongside this, every company needs an integrated corporate, multi-layered cybersecurity platform. To ensure that its IT infrastructure is protected against malware, ransomware, cryptominers and other threats, the Donau Chemie Group has implemented Kaspersky Endpoint Security for Business. 

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13-08-2018
The scary side of emojis: hackers love them as much as you do

It is estimated that every day there are more than 5 billion emojis shared through the Facebook Messenger alone.As emojis are getting more and more popular, scammers, hackers and various shady digital companies are taking advantage of it. If you are obsessed with emojis, you can quickly get into the trap and expose your private data.“There’s one important rule when talking about cybersecurity - never open links, press on ads or download apps or add-ons if you are not sure where those came from. These days you have to check twice, even if we are talking about such a fun thing as emojis,” explained Daniel Markuson, digital privacy expert at NordVPN. “One of the growing trends is scams through downloadable emoji keyboards. Be especially cautious of free emoji keyboards, as nothing of value is free”.According to the NordVPN expert, if the emoji keyboard is free, it usually means that the developers behind it rely on a data-driven business model. This means that everything you type on your device, be it a computer or a smartphone, will be continuously tracked and later sold for big money to advertising or other third-party companies. This may seem like not much of a problem, but it becomes an issue if those companies are hacked because of their poor cybersecurity. Then your personal data might be exposed much more than you would like.Be careful not only with the usual emojis, but with various custom keyboards as well - those allow users not only to add an emoji keyboard, but to create personalized avatars as well. Again, if the virtual emoji keyboard is free and you have never heard about its publisher - don’t trust it. Better check your official app store and choose something there.“There are way too many cases when free emoji keyboards spread viruses or other malicious content. So if you would like to use one, at the very least choose one from the official app stores,” Markuson suggested. “Viruses and malware usually slow down your computer as they mess around with everything - from pushing ads or phishing sites to hijacking your browser. So if this happens after you install an emoji keyboard - remove it and run a malware scan right away.”And then there is another way cybercriminals use the cute emoticons - emoji malware scam. In recent years, emojis have become their bait of choice, especially when various studies show that emails and newsletters with emojis in the subject line are opened 66% more frequently. If that works for pesky marketers, why not use it for malware scam campaigns?“Such scammy emails often contain deals that are too good to be true. However, the smiling emoji winking at you at the end of the sentence have a way to convince us that this is a real thing sent by a friendly person,” said Markuson. “You open the email, press the link and get that malware into your computer. Those adorable emojis may lead to serious headaches.”Most of us chat with friends and send emojis to kill some time during our daily commute, while waiting for a bus or metro. However, if you or your colleagues are very much into emojis, you might need a VPN (virtual private network), which will encrypt your Internet data and help protect your identity and personal information from hackers or identity thieves. 

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11-08-2018
Mindtree taps AI to enable banks to improve compliance

Banks and other financial institutions are challenged by both the rising sophistication of financial crimes worldwide and increasingly complex regulations requiring strict operating and reporting standards. The ongoing efforts to manually detect money laundering, dealing with false alarms and fragmented reconciliation processes are costly and time consuming. There is an urgent need for these institutions to automate many of these processes, reducing errors and accelerating their response times to incidents.According to a LexisNexis survey of AML, compliance and risk professionals across six markets in Asia: China, Hong Kong, Indonesia, Malaysia, Singapore and Thailand, financial institutions with less than US$1 billion in assets average US$850,000 in AML operational costs. Those with over US$100 billion in assets spend an average of US$15.8 million on AML compliance annually.Figure 1: Total annual cost of AML compliance operations by size of firmSource: LexisNexis, 2018RELATED: Getting real on AML and sanctions compliance challenges in APACTech company Mindtree wants to capitalize on that opportunity by creating new services that rely on growing interests around artificial intelligence (AI) and machine learning to lower the cost of compliance.Key to Mindtree’s new service offerings is the use of predictive modeling capabilities from another Indian company – Tookitaki.According to Mindtree the new services, Smart Alert Management and Smart Reconciliation Management, will help banks improve their ability to detect financial crimes and enhance reconciliation management.“This partnership combines Tookitaki's predictive modeling capabilities and Mindtree's deep expertise in helping enterprise clients capitalize on artificial intelligence and machine learning to help banks run their business more efficiently,” said Kamran Ozair, Executive Vice President and Head of Banking, Financial Services and Insurance at Mindtree.Smart Alert Management: A completely automated, dynamically-adaptive model based on artificial intelligence and machine learning technology to detect suspicious cases more accurately. It reduces false alerts, increases true positives (suspicious cases missed by rules/legacy systems), lowers costs, and enhances the productivity of analysts. Banks can improve the anti-money laundering process using machine learning.Smart Reconciliation Management: An end-to-end automated approach to reconciliation management across business functions. Using machine learning and analytics, it increases match rates, resolves exceptions, recommends adjustment amounts and generates an audit trail for thorough business understanding. This shifts reconciliation from being subjective and error-prone to objective and more accurate. Banks can automatically handle exceptions and correct source systems while staying compliant."Rapid development in artificial intelligence and robotics technologies has brought in massive adoption of automated technologies across industries," says Abhishek Chatterjee, Founder and CEO of Tookitaki. "For banks especially, who are dealing with strict regulations and little room for error, automation can drive quality, productivity and profitability. Our partnership with Mindtree has made it easier and more efficient for customers in the financial services industry to introduce artificial intelligence and machine learning capabilities into the critical space of regulatory compliance." Caption: Image from iStockPhoto/PhonlamaiPhoto

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10-08-2018
HK SMEs exporting more and adopting emerging tech

A survey from FedEx Express found that Hong Kong SMEs are exporting more globally and embracing the thriving digital economy

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10-08-2018
Chinese fintech professionals expect up to 30% pay rise

A rising shortage of fintech skills is driving up salaries for qualified professionals in China

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CyberLink Vol.118 July 2018

Digital Silk Road spotlighted at the Belt and Road Summit

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CyberLink Vol.117 June 2018

Cyberport's Smart-Space 8 in Tsuen Wan is open for online application

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CyberLink Vol.116 May 2018

Message from CEO

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