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Finastra and LPBank Modernize Treasury Management Operations in Record Time

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SINGAPORE, Oct. 17, 2024 /PRNewswire/ — Finastra, a global provider of financial services software applications, has announced the implementation of its front-to-back treasury solution, Kondor, at Fortune Vietnam Joint Stock Commercial Bank (LPBank) to modernize the bank’s treasury management operations and capabilities. This strategic collaboration is part of LPBank’s concerted effort to accelerate its digital transformation strategy and enhance its competitiveness in the market.

Achieving deployment in just six months, the rapid timeline was achieved through an agile approach, flexibility, and a collaborative working relationship that facilitated a seamless integration of new systems with existing technology infrastructure and workflow processes. The initiation of the project was carefully designed to help LPBank meet the rising demands of managing more sophisticated treasury and liquidity products for clients, as well as supporting general risk management decisions across the bank.

Ho Nam Tien, Standing Deputy Chairman of LPBank said, “The successful deployment of this innovative project is testament to our deep commitment toward digital transformation and creating value for our customers. It also speaks volumes to Finastra’s technological expertise as a partner. While we are in the early phase of recognizing the full potential of this investment on our treasury operations, we have already seen steady improvements to trading volumes, transaction quality, and reduced transaction times. LPBank is well positioned to further advance its leadership position in Vietnam.”

Finastra’s Treasury and Capital Markets business is built on a comprehensive platform of solutions that empower financial institutions like LPBank to achieve higher levels of efficiency, compliance, and growth across the trade and liquidity management lifecycle. Central to this current partnership is Finastra’s Kondor solution, which offers powerful risk analytics, trade processing, position management, and real-time risk coverage, enabling high-volume treasury trading while supporting complex derivatives, options, and structured transactions.

Richard Zhu, Managing Director, Capital Markets, Asia Pacific, Finastra said, “We are proud to be part of LPBank’s ambitious digitalization and modernization journey. In today’s landscape, digital transformation is a necessity for financial institutions hoping to keep pace with the shifting needs of customers and the rising pressures of competition and regulations. The ongoing support from LPBank’s senior leadership team was instrumental to the project’s success. It demonstrates an inspirational commitment to transforming the bank’s entire ecosystem with best-of-breed digital solutions which drive efficiency, sustainability and growth akin to Finastra’s Open Finance vision. This collaboration not only enhances LPBank’s operational capabilities but also sets a benchmark for innovation in the region.”

For more information on Kondor, please visit Finastra Kondor.

About Finastra
Finastra is a global provider of financial services software applications across Lending, Payments, Treasury and Capital Markets, and Universal (retail and digital) Banking. Committed to unlocking the potential of people, businesses and communities everywhere, its vision is to accelerate the future of open finance through technology and collaboration, and its pioneering approach is why it is trusted by ~8,100 financial institutions, including 45 of the world’s top 50 banks. For more information, visit finastra.com.

About LPBank
LPBank is one of the largest retail commercial banks in Vietnam with advantage of an extensive nationwide network. LPBank’s products and services serve customers through a nationwide network of branches and transaction offices covering 63 provinces in Vietnam. Its vision is to become the most trusted financial partner and the first choice of individuals, households and small and medium enterprises in rural and urban areas. For more information, visit lpbank.com.vn.

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Ireland to host the 28th TCI Global Conference

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CHIHUAHUA, Mexico, Oct. 17, 2024 /PRNewswire/ — With the conclusion of the 27th TCI Network Global Conference, held in Chihuahua, northern Mexico, Ireland has received the baton to host the global cluster meeting in 2025. 
During the handover ceremony to Ireland, John Hobbs, of Munster Technological University, Ireland, expressed his excitement for the upcoming global cluster conference, referring to the groups of companies that share objectives and resources.
“We are very excited to host the next conference in Ireland. Clusters have proven to be a key instrument in transforming our economies, and in 2025 we hope to further strengthen the alliances we have built here in Chihuahua,” said Hobbs, who is also a member of TCI Network.
Hobbs highlighted Chihuahua as a model for cluster organization to spur economic development across various industries and as a platform for sharing best practices.
“What we saw in Chihuahua is a clear example of how clusters can catalyze change. This conference has been an extraordinary platform for sharing good practices, and we look forward to continuing the dialogue,” he said.
Departing TCI Network President Merete Daniel Nielsen also stressed the opportunities for development and the discussion of critical future topics, such as global collaboration, artificial intelligence, and the reshoring of supply chains, or nearshoring, among others.
She also praised the northern Mexican state of Chihuahua for its organization and the synergies achieved between the private and public sectors.
“I don’t know where to start or end because they’ve truly been a strong example of what clusters can accomplish. Without the collaboration of institutions and cluster managers, the level and quality of what we’ve seen here would not have been possible. Chihuahua is a best-practice case we can all be proud of,” she said.
Nielsen reflected on her experience as head of TCI Network, noting that her departure as president highlights the potential these initiatives hold for economic and industrial development.
“This is my final handover, as I’ve been president of TCI Network for six years. I will carry this place in my heart because to me, it is a testament to the power of clusters and the transition they represent,” she remarked.
“For the first time in TCI, we now have two countries collaborating on organizing the next conference. We are very eager to welcome everyone to Ireland.”, she finally stressed.

View original content:https://www.prnewswire.co.uk/news-releases/ireland-to-host-the-28th-tci-global-conference-302279202.html

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BSV Blockchain launches W3C Community Group to leverage blockchain technology to enhance Internet standards

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ZUG, Switzerland, Oct. 17, 2024 /PRNewswire/ — BSV Blockchain has announced the launch of the World Wide Web Consortium (W3C) Blockchain2 Community Group, an initiative dedicated to exploring the integration of blockchain technology into Internet standards for web applications. The chairs of this group are the BSV Blockchain representatives Ty Everett, Brayden Langley, Darren Kellenschwiller, Thomas Giacomo and Jake Jones

The new group will assume responsibility for the topic of blockchain technology within the consortium and aims to enhance security, privacy, and efficiency within the web ecosystem through blockchain innovation.

The W3C’s role in web development

The W3C is a consortium of international organisations, companies and stakeholders whose mission is ‘to develop open standards for an interoperable web to meet requirements for accessibility, internationalisation, privacy, and security.’

The consortium is organised principally in more than 100 working and interest groups. One of these groups is the newly founded Blockchain2 Community Group. It is named so due to the fact that it is the second group within the consortium tasked with working on blockchain. The previous group has been inactive since 2017.

The BSV Blockchain’s vision of a new Web 3.0 iteration of the Internet focused on users’ privacy, transparency and data integrity aligns with W3C’s vision of having the Web designed for the ‘good of its users’ as well as ‘safe for its users’ and that there is only ‘one interoperable world-wide Web’.

Similarly, the BSV blockchain is built on the conviction that user security (and the associated regulatory compliance) as well as the interoperability of web applications and solutions are key for creating innovation on the web.

Role of the group in W3C

The group will initially only work internally and develop goals, definitions and requirements that make blockchain useful for the World Wide Web community. In the words of the group:

“Our first deliverable will comprise a list of value-adds and benefits that blockchain technology may be able to provide for the World Wide Web community. Subsequently, based on our findings, we aim to agree on a set of general, high-level requirements and capabilities that blockchain-based application architectures would need to fulfil in order to deliver value.”

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In a second step, the group will then collaborate with other W3C groups to gain further input and insights and plan the way forward:

“Finally, we aim to explore the potential impacts of these architectures on the privacy, resiliency, incentives, and accessibility of the web, and to establish relationships with other groups to ensure alignment as these solutions are developed.”

Call for participation

The Blockchain2 Community Group invites web developers, blockchain enthusiasts, and technologists to join the effort. W3C Membership is not required for participation, making the group accessible to anyone with a W3C account. Participants will collaborate through a variety of tools including mailing lists, IRC, and RSS feeds.

While hosted by W3C, the Blockchain2 Community Group’s activities and outputs do not necessarily reflect the views of W3C Membership or staff. Instead, this initiative represents an opportunity for community-driven innovation in the blockchain space, encouraging a collaborative approach to shaping the future of the web.

For more information or to join the Blockchain2 Community Group, visit the W3C Community Groups page. Join the group in pioneering new technologies that will transform how we interact with the web and ensure its evolution aligns with the needs of users and developers alike.

About BSV Blockchain

The BSV Blockchain is a global organisation based in Switzerland. It is focused on enhancing the adoption and development of the BSV blockchain. The association oversees the creation of tech standards and helps governments, businesses, developers, and users learn how to build a worldwide blockchain ecosystem.

 

View original content:https://www.prnewswire.co.uk/news-releases/bsv-blockchain-launches-w3c-community-group-to-leverage-blockchain-technology-to-enhance-internet-standards-302279174.html

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Truist reports third quarter 2024 results

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CHARLOTTE, N.C., Oct. 17, 2024 /PRNewswire/ — Truist Financial Corporation (NYSE: TFC) reported its third quarter 2024 results today. Investors can access the live third quarter 2024 earnings call at 8 a.m. ET today by webcast or dial-in as follows:

The earnings release, investor presentation, including an appendix reconciling non-GAAP disclosures, and Truist’s Third Quarter 2024 Quarterly Performance Summary, which contains detailed financial schedules, are available at Truist’s Investor Relations website at https://ir.truist.com/earnings. A replay of the call will be available on the website for 30 days.

About Truist

Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. As a leading U.S. commercial bank, Truist has leading market share in many of the high-growth markets across the country. Truist offers a wide range of products and services through our wholesale and consumer businesses, including consumer and small business banking, commercial banking, corporate and investment banking, wealth management, payments, and specialized lending businesses. Headquartered in Charlotte, North Carolina, Truist is a top-10 commercial bank with total assets of $523 billion as of September 30, 2024. Truist Bank, Member FDIC. Learn more at Truist.com.

View original content:https://www.prnewswire.co.uk/news-releases/truist-reports-third-quarter-2024-results-302278422.html

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