Day: October 19, 2022

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Quantexa Has Been Positioned by Chartis as a Category Leader in the KYC Solutions 2022 Market Quadrant Update and Vendor Landscape

Quantexa’s KYC Solution, part of its industry leading Decision Intelligence Platform, recognized for completeness of offering, risk scoring, customer profile enrichment, and customer onboarding

LONDON, Oct. 19, 2022 (GLOBE NEWSWIRE) — Today Quantexa, a global data and analytics software company pioneering Contextual Decision Intelligence (CDI) and helping the world’s leading organizations and government agencies solve some of their toughest data challenges, announced that they have been recognized as a category leader in the just released 2022 Chartis KYC Solutions Market Update and Vendor Landscape report. Quantexa is being recognized as a category leader for completeness of their enterprise solution as well as market potential. The Quantexa KYC Solution was rated “best in class” for KYC risk scoring and customer profile enrichment with additional data and received an advanced ranking for customer onboarding and reporting, and dashboarding.

The Chartis KYC report is focused on the macro themes of cost saving and efficiency. Currently, KYC processes can be manual, error-prone and result in a poor experience throughout the customer lifecycle. Quantexa’s Decision Intelligence Platform transforms the approach to KYC by adding context and clarity from onboarding to exit, dynamically monitoring, and assessing customer risk and opportunity, and shifting away from manual periodic reviews to an automated, proactive process.

The platform connects internal and external data to create a single, enriched, holistic view of a customer and its control, and uncovers hidden connections between customers, counterparties and their behaviors which are often impossible to see in isolation. Along with automation and the use of AI to achieve efficiencies, the solution facilitates a continuous and informed understanding of customers for better, faster decision making throughout the customer acceptance, identification, activity monitoring, and risk management processes.

Quantexa’s positioning in the report is reflective of their customers’ proven results and is proof that adopting a contextual and perpetual approach to KYC reduces the time and costs involved for businesses. It also transforms what has become a tick-the-box exercise, back into the true purpose of understanding the risk and exposure brought on by customer activity. By increasing automation and using decision intelligence, businesses stay ahead of the volume and velocity of data related to KYC policies and processes and can free up their teams, so they have more time to concentrate on high-risk customers and value-add tasks.

Quote: Phillip Mackenzie, Senior Research Specialist, Chartis
“The Chartis RiskTech Quadrant for KYC does not simply describe one technology solution as the best – rather, we use the most sophisticated ranking methodology to explain which solution would be most suitable for buyers, depending on their implementation strategies. Our research finds that Quantexa’s KYC Solution offers businesses the necessary controls to address the risks involved in using AI in their compliance programs.”

Quote: Dan Higgins, Chief Product Officer, Quantexa

“Quantexa is thrilled to be included in the Chartis KYC Market Quadrant Report, positioned very strongly amongst an esteemed list of enterprise solution providers. Traditional ongoing due diligence and periodic refreshes of KYC continue to drive cost and complexity for businesses. The increasing regulatory, budget and customer pressures demand a new way of thinking. Quantexa’s contextual approach reduces the time and cost of KYC by increasing automation, connecting non-obvious relationships, and leveraging decision intelligence for perpetual monitoring of risk. This translates into more accurate risk identification and management, lower costs, and improved customer experience. We are confident that this approach will continue to provide value to our clients and drive overall market growth for Quantexa.”

ABOUT QUANTEXA
Quantexa is a global data and analytics software company pioneering Contextual Decision Intelligence that empowers organizations to make trusted operational decisions by making data meaningful. Using the latest advancements in big data and AI, Quantexa’s platform uncovers hidden risk and new opportunities by providing a contextual, connected view of internal and external data in a single place. It solves major challenges across data management, KYC, customer intelligence, financial crime, risk, fraud, and security, throughout the customer lifecycle.

The Quantexa Decision Intelligence Platform enhances operational performance with over 90% more accuracy and 60 times faster analytical model resolution than traditional approaches. Founded in 2016, Quantexa now has more than 500 employees and thousands of users working with billions of transactions and data points across the world. The company has offices in London, New York, Boston, Washington DC, Brussels, Toronto, Singapore, Melbourne, and Sydney. For more information, contact Quantexa here or follow us on LinkedIn.

ABOUT CHARTIS

Chartis is a research and advisory firm that provides technology and business advice to the global risk management industry. Chartis provides independent market intelligence regarding market dynamics, regulatory trends, technology trends, best practices, competitive landscapes, market sizes, expenditure priorities, and mergers and acquisitions. Chartis’ RiskTech Quadrant reports are written by experienced analysts with hands-on experience of selecting, developing and implementing risk management systems for a variety of international companies in a range of industries, including banking, insurance, capital markets, energy and the public sector.

A PDF accompanying this announcement is available at:

http://ml-eu.globenewswire.com/Resource/Download/0b256614-6827-4dd7-b1fe-d9c1df5bb360

Media Inquiries:

C: Laurel Case, VP, Fight or Flight
T: +1 315 663 6780
E: Quantexa@fightflight.co.uk

C: Adam Jaffe, SVP of Corporate Marketing
T: +1 609 502 6889
E: adamjaffe@quantexa.com
– or –
RapidResponse@quantexa.com
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IP Technology Labs Awarded Patent Providing Controllerless Load-Balancing for Reliable, Resilient, & Secure Connectivity

The invention provides for a controllerless, stateless, and scaleable implementation to efficiently distribute network traffic to one or more server resource pools. By placing the connection intelligence at the endpoint, the application can make the best network connection decision continuously without the performance or security limitations of traditional load balancers.

BALTIMORE, Oct. 19, 2022 (GLOBE NEWSWIRE) — IP Technology Labs®, the American manufacturer of secure endpoint IT/OT connectivity and reliable remote access solutions, today announced that the United States Patent and Trademark Office issued US Patent #11,477,276 covering network reliability without using a controller or load balancer. The innovative technology allows the deployment of scaleable and redundant networks without the cost, complexities, or limitations of traditional redundant networking options.

“Reliable & resilient connectivity is a network imperative and a cybersecurity issue,” said Scott Whittle, President of IP Technology Labs. “Devices and applications expect to connect resources anytime, anywhere, and over any infrastructure. Putting intelligence at the endpoint, where it belongs, IpTL can distribute network traffic to any resource without using load-balancers or controllers. Now, critical infrastructure can communicate securely to a scaleable and distributed infrastructure while lowering costs, increasing performance, and assuring security end-to-end.”

Traditional load balancers operate ahead of network resources and thus are a performance and security vulnerability point. Additionally, algorithms used to distribute traffic are limited and focus only on the server. Unlike other scaleability and pooling solutions today, the invention puts intelligence in the endpoint and enables the remote application or device to make the best decision on what resources to connect to.

The patent covers techniques for scalable automated and stateless network connections without using a controller. By distributing network resource information, including resource selection metadata such as uptime, load, and security preference, any remote device or application can pick the best resource to connect to.

Contact info@IpTechLabs.com for additional information.

About IP Technology Labs LLC. (https://IpTechLabs.com)

IP Technology Labs, LLC. is an American designer and manufacturer of cybersecurity and remote access networking appliances headquartered in Baltimore, Maryland, USA. We develop and market endpoint security solutions for fixed-application devices that eliminate network threats from spoofing, snooping, and backdoors and increase reliability and cost savings for remote access connectivity. Our patented technologies enable IoT, OT, and IT end-to-end networking with cybersecurity for easy, seamless, stable, and secure operation on any network.

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AAR expands partnership with flydubai, signing multi-year Boeing 737 MAX flight-hour component support contract

Wood Dale, Illinois, Oct. 19, 2022 (GLOBE NEWSWIRE) — AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, has signed a new multi-year flight-hour component support contract, expanding its relationship with flydubai to include additional aircraft in flydubai’s rapidly growing Boeing 737 MAX fleet.

AAR will grow its onsite team and work alongside flydubai to ensure real-time decision making and seamless interaction throughout the duration of this contract. The inventory for this program will be located in Dubai, in alignment with AAR’s “close to the customer” support philosophy.

Commenting on the announcement, Mick Hills, flydubai’s Chief Operations Officer, said, “AAR’s continued support over the last five years has enabled flydubai to maintain the optimum levels of efficiency and quick turnarounds when it comes to our fleet maintenance. The experience and reliability this partnership adds to our operations will continue to be collaborative, especially as we bring more of our MRO capabilities in house. We look forward to expanding our partnership with AAR as we grow our fleet over the next few years.”

flydubai operates a single fleet-type of 68 Boeing 737 aircraft that includes 32 Next-Generation Boeing 737-800, 33 Boeing 737 MAX 8, and 3 Boeing 737 MAX 9 aircraft. The carrier is expected to take delivery of 11 737 MAX aircraft by the end of the year as it continues to retire more of its 737 Next-Generations.

“It is a privilege to use our expertise and inventory to improve component support reliability and efficiency for flydubai,” said Colin Craig, AAR’s Vice President, Business Development, Integrated Solutions. “flydubai’s decision to place further trust in AAR’s ability to provide excellent operational support speaks to the success of embedding our services with customers.”

AAR began supporting flydubai’s flagship fleet of Boeing 737 MAX in 2017 and signed a contract extension for flydubai’s Boeing 737 Next Generation fleet in 2021.

For more information on commercial solutions and flight-hour support, visit the AAR website.

About AAR
AAR is a global aerospace and defense aftermarket solutions company with operations in over 20 countries. Headquartered in the Chicago area, AAR supports commercial and government customers through two operating segments: Aviation Services and Expeditionary Services. AAR’s Aviation Services include Parts Supply; OEM Solutions; Integrated Solutions; and Maintenance, Repair, and Overhaul (MRO) Services. AAR’s Expeditionary Services include Mobility Systems operations. Additional information can be found at aarcorp.com.

About flydubai
From its home in Dubai, flydubai has created a network of more than 95 destinations served by a fleet of 68 aircraft. Since commencing operations in June 2009, flydubai has been committed to removing barriers to travel, creating free flows of trade and tourism and enhancing connectivity between different cultures across its ever-expanding network.

flydubai has marked its journey with a number of milestones:

An expanding network: Created a network of more than 95 destinations in 50 countries across Africa, Central Asia, the Caucasus, Central and South-East Europe, the GCC and the Middle East, and the Indian Subcontinent.

Serving underserved markets: Opened more than 70 new routes that did not previously have direct air links to Dubai or were not served by a UAE national carrier from Dubai.

An efficient single fleet-type: Operates a single fleet-type of 68 Boeing 737 aircraft and includes: 32 Next-Generation Boeing 737-800, 33 Boeing 737 MAX 8 and 3 Boeing 737 MAX 9 aircraft.

Enhancing connectivity: Carried more than 80 million passengers since it began operations in 2009.

For all our latest news, please visit the flydubai Newsroom.

This press release contains certain statements relating to future results, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995 which reflect management’s expectations about future conditions, including the ability to continue to build on AAR’s successful relationships with commercial airlines outside of the USA. Forward-looking statements may also be identified because they contain words such as ‘‘anticipate,’’ ‘‘believe,’’ ‘‘continue,’’ ‘‘could,’’ ‘‘estimate,’’ ‘‘expect,’’ ‘‘intend,’’ ‘‘likely,’’ ‘‘may,’’ ‘‘might,’’ ‘‘plan,’’ ‘‘potential,’’ ‘‘predict,’’ ‘‘project,’’ ‘‘seek,’’ ‘‘should,’’ ‘‘target,’’ ‘‘will,’’ ‘‘would,’’ or similar expressions and the negatives of those terms. These forward-looking statements are based on beliefs of Company management, as well as assumptions and estimates based on information currently available to the Company, and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated. For a discussion of these and other risks and uncertainties, refer to “Risk Factors” in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Should one or more of these risks or uncertainties materialize adversely, or should underlying assumptions or estimates prove incorrect, actual results may vary materially from those described. These events and uncertainties are difficult or impossible to predict accurately and many are beyond the Company’s control. The Company assumes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Attachment

Media Team
AAR CORP.
+1-630-227-5100
editor@aarcorp.com
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China Keen to Invest in Pakistan’s Mining Sector: Minister

Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal said Tuesday that Chinese authorities have shown a willingness to invest in the mining sector in Pakistan.

During a meeting to review the progress over the 11th Joint Cooperation Committee (JCC) meeting scheduled to be held at the end of October, the minister said, “the Chinese are ready to set up a working group on the mining sector, therefore we must give them some tangible proposals.”

While directing the concerned ministry to make a tangible proposal in this regard, he stressed upon the ministries to make a concrete plan rather than a business-as-usual approach.

The minister directed the Power Division to expedite the approval process of energy policy for Gilgit Baltistan (GB) so that already agreed projects for GB could be pushed forward.

He further directed that the development and production facility of solar panels for domestic use as well as export may be considered for inclusion in the agenda of the meeting.

During a meeting, a representative from Information Technology Ministry informed the minister that both Pakistan and China have decided to set up six sub-working groups on communication technology infrastructure, application innovation, policy and regulation, HR development, cyber security, and radio spectrum regulation.

The meeting noted that Prime Minister Shehbaz Sharif will be visiting China later this week. 11th JCC will have significance since the incumbent government has already revived CPEC projects which remained neglected during the last four years of PTI’s tenure, observed the participants.

During the meeting, several projects in various sectors like energy, transport, Information Technology, socio-economic development, industrial cooperation, science and technology, transport infrastructure, and international cooperation were discussed. The respective ministries shared their deliverable proposals of projects after conducting their Joint Working Groups (JWGs) which would now be taken up in JCC with the Chinese authorities.

It was proposed that the Pak-China Technology Business Forum will be formally established during the JCC meeting. The minister also directed the concerned ministries to focus on the long-term plans as well so projects could be operationalized.

The meeting was attended by the Secretary Planning Commission, Secretary of Communication, Executive Director China-Pakistan Economic Corridor (CPEC), and representatives from various ministries.

Source: Pro Pakistan

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Dar Once Again Assures that Pakistan Will Not Default

Finance Minister Ishaq Dar reiterated on Wednesday that there was no question of Pakistan going into default, as the risk has been averted.

“I want to give a message to markets through this conference that there is no need to get nervous, we are back to business and will arrange everything,” the minister said while addressing the All Pakistan Chartered Accountants Conference.

The finance minister said that there were serious challenges the country had been facing, however, the incumbent government rescued it from default although at a very high political cost.

Dar, while highlighting the magnitude of flood losses, remarked that international organizations have estimated the flood damage at a colossal $34.4 billion.

The country’s GDP is expected to rise by a meager 2 percent owing to the floods, he said.

The minister said that Pakistan needs $16.2 billion to support flood victims. To attract donors for the rehabilitation of flood victims and reconstruction of damaged infrastructure, a Donor Conference would be held next month, he said.

Commenting on the exchange rate, the minister said that the real value of the Pakistani Rupee lies below Rs. 200, and added that it is the responsibility of the State Bank of Pakistan (SBP) to control the exchange rate.

Talking to journalists afterward, the finance minister said that the government is actively pursuing the purchase of oil from Russia. He said that if India could benefit from buying Russian oil, Pakistan could as well.

The minister added that he has spoken to relevant quarters in Washington regarding the purchase of Russian oil and so far, there has been no resistance against it.

Source: Pro Pakistan

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Committee formed to implement Pak-Saudi projects in film, drama fields

A committee has been formed to implement joint projects between Pakistan and Saudi Arabia in the fields of film and drama.

A decision to this effect was made during a meeting between Minister for Information and Broadcasting Marriyum Aurangzeb and Saudi Ambassador to Pakistan Nawaf bin Saeed Al-Malki in Islamabad on Wednesday.

The Minister appreciated ambassador’s efforts for relief activities in the flood affected areas.

She said as per vision of Prime Minister Shehbaz Sharif Pakistan desires to further strengthen trade and business-to-business linkages between the two countries.

Speaking on the occasion, the Ambassador said Pakistanis, working in Saudi Arabia, are playing a key role in the development of the Kingdom.

Expressing his sympathies over the losses in floods, he said Saudi Arabia will continue to support Pakistan in this hour of need.

Source: Ministry of Information and Board casting

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