Based on its recent analysis of the African business process outsourcing (BPO) market, Frost & Sullivan recognises iSON Xperiences with the 2019 African Company of the Year Award for its focus on developing the domestic African BPO markets. It has grown to be almost five times the size of its nearest competitor in Africa in terms of revenue and head count. The company believes that Africa can match India’s competency in BPO, IT, and ITES through high employment generation, greater focus on skills training and development, aggressive capacity building, and direct government intervention.
“iSON is bolstering its high-tech capabilities in digital areas such as analytics and Artificial Intelligence (AI) as well as fostering human talent that can implement the latest tech solutions,” said Frost & Sullivan analyst Stephen Loynd. “The company is extremely knowledgeable about its clients and the specific objectives they have in terms of operations and in achieving the best possible CX. And it appears that iSON is well-poised to replicate its telecom industry success in other industry verticals.”
iSON grew from a single-country, single-sector provider into a multi-sector company with core expertise and capabilities in telecom, banking & financial services, government, retail, education, manufacturing, and oil & gas. It evolved very early from a call center services provider to an end-to-end customer experience partner that aims to offers a seamless experience to end customers. Headquartered in Dubai, it has regional headquarters in Nairobi, Kenya; Lagos, Nigeria, Cairo, Egypt, Durban, South Africa; and New Delhi, India, with support from 18,000 employees in 30-plus centers across 16 countries.
iSON’s platform is enabled for advanced digital capabilities such as AI-based chatbots with multi-channel integrations, and robotic process automation (RPA). It also features Big Data and social media analytics services as well as voice biometrics and speech analytics capabilities. The efficiency of its operations allow it to deliver a high level of omni-channel customer experience management (CEM). Meanwhile, it provides manual, assisted, and automated customer experience through voice and non-voice formats. Significantly, it offers services in locations that have not been tapped by other providers. For example, the company offers French clients services in the Democratic Republic of Congo (DRC), Chad, and Madagascar. These countries can generate as much as 30 percent cost savings and service levels comparable with centres in Morocco, Algeria, and Tunisia.
“iSON’s brand continues to grow in prominence. No other provider in this space is as closely associated with the ‘Africa Rising’ story as iSON Xperiences is,” added Stephen Loynd. “The company is uniquely present all across the African continent — in Burkina Faso, Ghana, Kenya, Liberia, Malawi, Niger, Nigeria, Rwanda, South Sudan, South Africa, Tanzania, Uganda, and Zambia. And it obviously takes pride in promoting local talent. This company’s strategy, along with its technology-based growth, has positioned it for further success.”
Each year, Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies, and the resulting leadership in terms of customer value and market penetration.
Frost & Sullivan Best Practices awards recognise companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
SOURCE Frost & Sullivan
360Quadrants Recognizes IBM, Microsoft and Salesforce as Visionary Leaders in the AI in Fintech Space
AI in Fintech solutions are used by enterprises to perform finance-related tasks that traditionally require human intelligence. These solutions leverage AI-equipped technology to allow the financial sector to design better investment strategies, swiftly detect anomalies, recognize patterns in data, implement voice recognition, and engage in thorough market analysis. Simply put, the AI in Fintech market hosts vendors that provide AI-enabled Fintech solutions.
360Quadrants the most granular comparison platform has released a quadrant on AI in Fintech Solutions to help businesses make quicker and more informed decisions. The quadrant has IBM, Microsoft and Salesforce sharing space as Visionary Leaders. 360Quadrants are generated post analysis of companies (product portfolios and business strategy). Quadrants will be updated every three months based on market and regional analysis and developments in AI in Fintech.
AI in Fintech Solutions Quadrant Highlights
360Quadrants covers 79 companies in the AI in Fintech Solutions space and places the top 44 of them in a quadrant depending on their quality, reliability, and business outcome. These 44 companies are categorized into Visionary Leaders, Dynamic Differentiators, Emerging Companies, and Innovators.
360Quadrants recognizes Intel Movidius Neural Compute Stick, Amazon AWS Alexa, Salesforce Einstein, Google Cloud Platform, Microsoft Cortana Intelligence Suite, and IBM Watson Platform as Visionary Leaders; IPSoft Amelia, ComplyAdvantage, Nuance Virtual Assistance, Inbenta InbentaBot, Digital Reasoning Conduct Surveillance as Innovators; Samsung and Microstrategy HyperIntelligence as Dynamic Differentiators; and DataRobot, Razorthink Big Brain, Numenta HTM for Stocks suite, Anodot AI Analytics, Brighterion Smart Agents, Kasisto Kai Banking, Next IT Alme, ZestFinance ZAML, Ayasdi Enterprise AI, Voyager Analytics, AlphaSense and Wallet. AI as Emerging Companies. The 360Quadrants platform provides the most granular AI in Fintech Solutions comparisons between vendors.
Additionally, 360Quadrants has dived deep into research and released a niche region-specific quadrant. This quadrant recognizes the top player in the market in specific regions. The regional quadrant covers North America, Europe, Asia Pacific, MEA, and Latin America. Intensive research was conducted to place companies in regional quadrants based on their developments, presence—both online and physical—and support/reach in specific regions. IBM Watson, Salesforce, and Microsoft are recognized as Visionary Leaders across regions. In the North America and Asia Pacific regions, Intel Movidius Neural Compute Stick is recognized as a Visionary Leader by 360Quadrants. Finally, for Latin America and MEA, 360Quadrants recognizes AWS as a Visionary Leader.
The methodology used to rank AI in Fintech Solutions companies involved the use of extensive secondary research to identify key vendors by referring to annual reports, press releases, investor presentations, white papers, and various related directories and databases. 44 key vendors were shortlisted based on their breadth of product offerings, organization size, and other criteria. The scores and weights for shortlisted vendors against each parameter were finalized post research. After the finalization of ratings, each vendor was placed in the most relevant quadrant based on their score in the product offering and business strategy parameters.
Infinicept Achieves 5X Growth Putting FinTech and SaaS Companies on the Fast Track as Payment Facilitators
As the payment facilitator market continues its trajectory of nearly 80% CAGR, representing $500 billion in total transaction volume by 2021, Infinicept is quickly capturing market share as the first and only open, agnostic payment facilitator platform. Since the company’s launch in 2012, Infinicept has helped fast track over 200 payment facilitators by offering consulting services and products that greatly reduce the time it takes to embed payment acceptance into software offerings. This momentum continues in 2019 as Infinicept records 500 percent growth in revenue and customer acquisition.
Recognizing the potential for further growth, Mastercard has invited Infinicept to join Start Path, a six month program that connects innovative later-stage startups to Mastercard’s global ecosystem.
“Having evaluated 10,000 startups from across the globe, we are always adding ground-breaking entrepreneurs to our network of innovators,” said Amy Neale, Mastercard vice president and global lead for Start Path. “Mastercard Start Path companies today are later-stage startups reaching unicorn status, entering the public markets and co-creating with world-renowned financial services firms to deliver real solutions for consumers.”
As the payment facilitator model matures, hundreds of thousands FinTech and software as a service (SaaS) companies worldwide are realizing they can provide a better customer experience and increase revenues and valuation by becoming a payment facilitator. The main obstacle being the time it takes to become a payment facilitator and the risks that come with onboarding submerchants. Payment Facilitator in a Box was developed by Infinicept to provide companies with the merchant underwriting and back office platform they need to easily get up and running—in weeks, not years.
Infinicept has already attracted customers in a variety of vertical markets who recognize the benefits and return on investment (ROI) this payment model offers. Signed customers include businesses in retail, food and beverage, healthcare, real estate, events and many more.
“Within the healthcare industry, there is a huge demand for a more positive payment experience. Patients expect modern, intuitive payment tools and large health systems need the flexibility to respond to their patients’ financial needs by rolling out consumer-friendly payment options across their enterprise,” said Alan Nalle, Chief Strategy Officer of Patientco. “Leveraging Infinicept’s innovative Payment Facilitator in a Box, Patientco simplifies the complexities of implementing, managing and scaling new payment technology for health systems while providing a superior financial experience that today’s patients expect.”
“FinTech and SaaS companies see the value of integrating merchant acceptance, underwriting, onboarding and back office operations into their products, but in order to do that, they need a supporting platform that reduces the complexities of it and works with any bank, processor, gateway or CRM they choose,” said Deana Rich, Co-Founder and Co-CEO of Infinicept. “Achieving 500 percent revenue growth and joining the Mastercard Start Path program confirms Infinicept is on the right path to fill a critical market need for FinTech and SaaS companies. Our engineering team and partners have done a great job delivering a dynamic suite of open and automated services that provide an operational backbone for any company looking to take the simple path to becoming a payment facilitator.”
Guaranteed Rate Appoints Suk Shah as Chief Financial Officer
Guaranteed Rate, one of the largest retail mortgage lenders in the nation, has hired Suk Shah as its Chief Financial Officer to accelerate growth. As Guaranteed Rate continues to break monthly volume records, it has been named one of 2019 Chicago’s largest privately held companies, reporting nearly $24 Billionof overall loan volume in 2018 alone.
“Suk is a huge hire for Guaranteed Rate and is a perfect cultural fit,” said Founder & CEO Victor Ciardelli. “With an extensive background as a FinTech CFO, he brings a ton of experience to the company, including areas such as mergers and acquisitions.”
As CFO, Shah will lead and oversee Guaranteed Rate’s focus on profitability and efficiency, while supporting various growth strategies and initiatives. Shah’s presence will enable Guaranteed Rate to expand the company’s product, technology and service solutions that will further enable the business to drive revenue growth and margin expansion across the organization.
“Guaranteed Rate is a pioneer in the digital mortgage industry and is uniquely positioned as an industry leader to drive mortgage volume and revenue through its innovative products and services,” said Shah. “I’m looking forward to joining this highly tenured and passionate leadership team to make a transformative impact for the company.”
Shah joins the Guaranteed Rate team from his former position of nearly five years at a high-growth financial technology company, where he helped raise over $600 million in equity and $4 billion in debt capital. Before that, Suk was the CFO of the US and Canadian divisions of a Global Commercial Bank where he oversaw a $40 billion loan and deposit. Shah began his career with General Electric and spent over eight years with the company in various finance and operating roles, helping to execute business priorities and deliver financial commitments.
Shah has a Bachelor’s degree in Finance and Information Systems from the University of Illinois and an Executive MBA from Northwestern University. He lives in Hinsdale, Ill., with his wife and two children.
Guaranteed Rate has delivered competitive pricing, mortgage products and unmatched expertise from its top-producing loan officers, helping thousands of customers move into their dream homes. The Company introduced the market’s first Digital Mortgage, creating an easy-to-understand, transparent loan process, which has led to an industry-leading customer satisfaction rating and exponential growth.
SOURCE Guaranteed Rate
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