Fintech PR
EY releases more than 20 new Assurance technology capabilities supported by Microsoft alliance in first year of US$1b investment program
- Assurance technology applications hit milestone 500,000 users, benefitting from the performance and stability of Microsoft Azure
- Recent releases include integrated and transformed analytics that use Microsoft Azure and Microsoft Power BI
- Integration of Microsoft Artificial Intelligence capabilities within EY next generation Assurance technology platform supported by release of Microsoft Azure OpenAI Service
LONDON, Aug. 31, 2023 /PRNewswire/ — The EY organization today announces an expansion of its collaboration with Microsoft, as the EY organization completes the first 12 months of a four-year investment of more than US$1b to deliver its next generation Assurance technology platform. The EY organization’s investment is part of a sustained focus on maintaining the highest-level of audit quality, promoting confidence in business and the capital markets, and providing for a scalable and right-sized audit that aligns with companies’ transformation agendas.
The expansion of the EY organization’s collaboration with Microsoft follows this year’s release of more than 20 new major Assurance technology capabilities. This is part of the multi-year EY program to integrate advanced technologies into one seamless platform and drive transformation through the next generation of data access capabilities and advanced analytics; Artificial Intelligence (AI); and an elevated user experience. This transformation is supporting 500,000 EY professionals and external users, powered by Microsoft Azure.
Marie-Laure Delarue, EY Global Vice Chair – Assurance, says:
“The EY organization has reached the first milestone in a four-year investment program to integrate and transform EY Assurance technology. The EY and Microsoft Alliance is central to this program as the EY organization delivers on its commitment to continuously improve audit quality; drive sustainable long-term value; and facilitate greater confidence among EY stakeholders and the stakeholders of companies served.”
The first 12 months of the EY organization’s Assurance technology investment has included the release of next generation audit data analytics utilizing Microsoft Power BI. The EY organization’s release uses the combined power of EY and Microsoft capabilities, which provide agile development and delivery in a unified approach – including Microsoft Fabric. This transforms the user experience and supports the full integration of data analytics capabilities directly into the workflow of the EY Assurance technology platform. EY Assurance teams now process over 775b lines of journal entry data each year, as part of the EY digitally transformed audit.
This follows the integration of EY Canvas – the EY organization’s audit technology application – with Microsoft Azure, which has provided strong performance and extensibility in support of EY’s delivery of more than 150,000 audits globally. This includes the 99.99% availability of EY Canvas powered by Microsoft Azure in the last 12 months, enabling one of the largest business-to-business (B2B) platforms in the profession.
The recent release of new Assurance technology capabilities across the EY organization includes globally scaled AI. These AI enabled capabilities – leveraging publicly available and EY generated data – are directly integrated with EY Canvas to support EY Assurance professionals in assessing risk. The EY organization is also introducing new AI enabled capabilities in predictive analytics; content search and summarization; and document intelligence, including financial statement tie-out procedures. Through these developments, EY teams have been using Azure Cognitive Services, to integrate AI into the audit process.
The EY and Microsoft Alliance additionally provides EY Assurance teams with early access to new Microsoft technologies, and the ability to integrate more Microsoft products into the EY Assurance technology platform. This includes the internal EY release of Azure OpenAI Service, helping EY professionals to experience the potential of generative AI capabilities; and to benefit from early access to Microsoft 365 Co-Pilot.
Marc Jeschonneck, EY Global Assurance Digital Leader, says:
“EY’s investment is facilitating the integration and transformation of data-driven audits and other assurance services, powered by the Microsoft Cloud and including the latest Microsoft Power BI capabilities.”
Andreas Toggwyler, EY Global Assurance Technology Officer, says:
“Leveraging Microsoft Azure enables EY Assurance to further increase the performance and resilience of EY’s Assurance technology platform.”
Paul Goodhew, EY Global Assurance Innovation Leader, says:
“EY is accelerating delivery of emerging technologies including artificial intelligence – from ideation to scaled release – through the integration of Microsoft technologies with EY’s platform.”
Arun Ulagaratchagan, Corporate Vice President of Azure Data, Microsoft, says:
“EY’s Assurance technology platform, powered by the Microsoft Cloud, is enabling the transformation of EY’s audit and assurance services. Our common aim to advance game changing new technologies, including data-driven AI, will remain central as we iterate on the next generation of EY and Microsoft technologies.”
More information on the EY-Microsoft Alliance, can be found here
About EY
EY exists to build a better working world, helping create long-term value for clients, people and society and build trust in the capital markets.
Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate.
Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.
This news release has been issued by EYGM Limited, a member of the global EY organization that also does not provide any services to clients.
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BEIJING, Oct. 22, 2024 /PRNewswire/ — Nium, the leading global infrastructure for real-time cross-border payments, is thrilled to announce its strategic partnership with Doha Bank, a premier financial institution in Qatar. This collaboration marks Nium’s inaugural partnership in Qatar, underscoring its commitment to revolutionizing the landscape of international payments.
Central to this collaboration is the commitment to offer fast, reliable, and cost-effective remittance services to residents of Qatar. By harnessing Nium’s expertise in facilitating seamless cross-border payments, coupled with Doha Bank’s localised insights and market expertise, this partnership aims to introduce real-time payment solutions that set a new standard for efficiency and affordability in the industry.
Through this partnership, customers of Doha Bank will gain access to cutting-edge real-time payment solutions, empowering them to seamlessly transfer funds across borders with speed and efficiency. Leveraging Nium’s advanced technology and Doha Bank’s esteemed reputation and extensive customer base, this initiative promises to redefine the way people in Qatar conduct cross-border transactions.
“Doha Bank is dedicated to delivering innovative financial solutions that cater to the evolving needs of our customers,” said Tarun Minglani, Group Head of Financial Institutions, Syndication & Secondary Markets business at Doha Bank. “We are confident that partnering with Nium, a global leader renowned for its comprehensive suite of services and proven track record with other financial institutions, will enable us to provide unparalleled value to our clients.”
“Enabling individuals to seamlessly transfer money across borders is pivotal in today’s interconnected world,” stated Anupam Pahuja, Executive Vice President and General Manager, for Asia Pacific, Middle East and Africa at Nium. “We are excited to join forces with Doha Bank to address the evolving needs of customers in Qatar, empowering them with the ability to conduct real-time transactions globally. This collaboration exemplifies our shared vision of driving financial inclusion and accessibility through technology.”
About Nium
Nium, the leading global infrastructure for real-time cross-border payments, was founded on the mission to deliver the global payments infrastructure of tomorrow, today. With the onset of the global economy, its payments infrastructure is shaping how banks, fintechs, and businesses everywhere collect, convert, and disburse funds instantly across borders. Its payout network supports 100 currencies and spans 220+ markets, 100 of which in real-time. Funds can be disbursed to accounts, wallets, and cards and collected locally in 40 markets. Nium’s growing card issuance business is already available in 34 countries. Nium holds regulatory licenses and authorizations in more than 40 countries, enabling seamless onboarding, rapid integration, and compliance – independent of geography. The company is co-headquartered in San Francisco and Singapore.
About Doha Bank
Doha Bank, inaugurated in 1979 and celebrating 45 years of excellence, provides domestic and international banking services for individuals, commercial, corporate, and institutional clients through four business groups – Wholesale Banking, Treasury & Investments, International Banking and Retail Banking. Doha Bank has established overseas branches in United Arab Emirates, Kuwait and India as well as representative offices in Japan, China, Singapore, South Africa, Turkey, United Kingdom, Bangladesh, and Nepal.
Doha Bank has been recognized for its digital innovation, ESG efforts, and CSR initiatives. It was awarded “Best Digital Wallet APP in Qatar“, “Most Innovative Banking Brand Qatar” and “Best ESG Integration”. The Bank believes that ESG is a strategic imperative and is committed to advancing it in the banking sector. It also received the “Market Leader Recognition in Corporate Social Responsibility” from Euromoney.
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Fintech PR
Trintech and PRYZM Announce Strategic Partnership to Transform and Automate Finance and Accounting Processes
PRYZM to refer and implement Trintech’s market-leading cloud-based finance and accounting solutions
LONDON, Oct. 22, 2024 /PRNewswire/ — Trintech, a leading global provider of cloud-based financial close solutions for the Office of Finance, today announced a strategic partnership with PRYZM, a leading consultancy specializing in Finance Transformation and Enterprise Performance Management (EPM) solutions. The partnership enables PRYZM to offer and implement Trintech’s market-leading cloud-based finance and accounting solutions to businesses in EMEA and beyond. Companies looking to transform and automate their reconciliation and financial close processes by streamlining work, improving accuracy, and reducing risk, will benefit from the combination of services and solutions PRYZM and Trintech can provide.
“We are excited to formalize our partnership with PRYZM as we continue to expand Trintech’s partner ecosystem across the globe to better serve our new and existing customers,” said Scott Vipond, Managing Director, EMEA of Trintech. “Together, Trintech and PRYZM share a common goal in providing organizations with a holistic business vision and strategy to reduce costs, drive efficiencies and mitigate risk across their reconciliation and financial close processes.”
From high volume transaction matching, to automating and managing balance sheet reconciliations, intercompany accounting, journal entries, and close management tasks, to governance, risk and compliance – Trintech’s portfolio of financial solutions, including its Cadency® Platform (for large enterprises) and Adra® Suite (for mid-market organizations), help manage all aspects of the reconciliation and financial close processes.
“At PRYZM, we’re thrilled to partner with Trintech to support our clients’ journey in transforming finance processes,” said Dimitrios Christodoulopoulos, Founder & CEO of PRYZM. “With Trintech’s solutions, we can help companies simplify complex reconciliations, enhance visibility across accounts, and ensure accuracy in financial reporting. As businesses increasingly rely on advanced technology to streamline finance operations, our collaboration with Trintech enables us to provide organizations with precise, automated tools that deliver both control and efficiency across their accounting processes.”
To discover how this strategic partnership can help your organization streamline and accelerate reconciliation and financial close processes, visit www.pryzm.global or contact us for more information.
About PRYZM
PRYZM helps CFOs reimagine their Finance function by solving complex problems and accelerating their digital transformation journey. Through our services, we help organizations harness technology and innovation to shape their visions, execute their strategies and reinvent their businesses in order to achieve exceptional, sustainable value from their technology investments.
Contact:
Dimitrios Christodoulopoulos
Founder & CEO
[email protected]
About Trintech
Trintech gives people time back for what matters most. Our cloud–based platform and solutions enable thousands of clients worldwide to lead productivity transformation across their finance and accounting organizations — driving efficiencies, ensuring accuracy to mitigate risk, and empowering strategic decision-making. Make time count with Trintech.
As the leader in Financial Close Management, Trintech is headquartered in Plano, Texas with offices and strategic resellers across United States, Europe, Australia, South America, Africa, and Asia Pacific. With a strong partner ecosystem, Trintech collaborates with over 100 companies to create a network of interconnected businesses. To learn more about Trintech, visit www.trintech.com.
Media Contact:
Kelli Shoevlin
Director, Global Corporate Marketing & Communications
[email protected]
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Fintech PR
Hyundai Motor Group Executive Chair Euisun Chung Meets with Indian PM Narendra Modi, Discusses EV Ecosystem, Innovation and Investment Plans
- Hyundai Motor Group Executive Chair Euisun Chung met with India’s Prime Minister to discuss cooperation and the development of the Indian mobility industry
- Operating in India since 1996, the Group aims to strengthen its role in the growing mobility market, expanding local production and offering a diverse product lineup
- Executive Chair Chung highlighted the Group’s significant impact on the Indian economy and its commitment to the ‘Make in India‘ initiative
- The Group is accelerating the creation of an electrification ecosystem in India, localizing production of key EV components and expanding the EV charging station network
DELHI, India and SEOUL, South Korea, Oct. 22, 2024 /PRNewswire/ — Hyundai Motor Group (the Group) Executive Chair Euisun Chung met with the Honorable Prime Minister of India, Shri. Narendra Modi. The two engaged in wide-ranging discussions on the future of mobility, with Executive Chair Chung underscoring the Group’s priority of working closely with India thanks to the country’s diverse market conditions and reformist approach.
Executive Chair Chung was in India to review the Group’s mid- to long-term strategy and attended the Hyundai Motor India Limited (HMIL) Stock Exchange Listing Ceremony on October 22, 2024.
Held at the Honorable Prime Minister’s office in Delhi, the meeting was also attended by Mr. Tarun Garg, COO – HMIL. They discussed the development of the Indian mobility industry and potential cooperation between India and Hyundai Motor Group.
Executive Chair Chung invited the Honorable Prime Minister to the opening of HMIL’s plant in Pune, Maharashtra. Investment in this factory will be game-changing for HMIL, supported by the Government of India and Government of Maharashtra.
HMIL will continue to play a key role in the “Make in India” initiative, and as India marches toward its ‘Viksit Bharat 2047’ vision – a strategy for the country’s development by the year 2047, coinciding with the 100th anniversary of India’s independence – Hyundai will stand as a trusted partner on this meaningful journey.
Since entering the Indian market in 1996, Hyundai Motor Group has become one of the top mobility companies in the country, offering innovative products and making significant social contributions.
Executive Chair Chung expressed his respect for India’s heritage and culture during the meeting. He said, “India’s rich history and culture continue to inspire people worldwide. As India and Korea deepen economic collaboration, we can learn much from each other’s cultures and strengthen the foundations of our cooperation.”
He also thanked the Indian government for its continuing support of Hyundai Motor Group, discussed the significance of Hyundai Motor India’s IPO, and outlined plans to build on the Group’s success so far by establishing Hyundai Motor as India’s most trusted mobility company.
“Hyundai Motor has successfully operated in India for over 26 years, becoming the second largest automobile manufacturer thanks to the Indian government’s interest and the Indian people’s support,” said Executive Chair Chung, adding, “Now is the right time to further establish Hyundai as a ‘Home Brand’ and the ‘Most Trusted Brand’ in India.”
Executive Chair Chung expressed his support for the adoption and growth of EVs in India, stating “We will continue our cooperation with the Indian government to establish an EV ecosystem through the release of EV models, construction of EV-charging networks, and localization of parts.”
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