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Abacus Group Enhances its Managed IT and Cybersecurity Services for Evolving Needs of Financial Services

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NEW YORK, April 22, 2024 /PRNewswire/ — Abacus Group, the leading Managed Services Provider (“MSP”) to financial services firms with specialized cybersecurity expertise provided by Gotham Security, an Abacus Group company, today unveils a revamp of its integrated IT and security solutions and services to meet the changing needs of the financial services industry.

The enhanced offering aims to provide firms with easy-to-select and comprehensible packages, which can be tailored to emerging firms, established and regulated firms, and sophisticated high-tech firms, as well as providing guidance on what is regulator and investor-friendly. This one-stop-shop solution will be provided by Abacus Group and Gotham Security under the “One Abacus” umbrella following the company’s acquisition of the cybersecurity provider last year.

This strategic change will enable Abacus Group to manage all of its clients’ IT and security requirements now and in the future. It is focused on helping financial services firms navigate the ever-changing cybersecurity threat landscape and align with operational due diligence and regulatory requirements, both current and pending. This includes the Securities and Exchange Commission (SEC) in the US, the Financial Conduct Authority (FCA) in the UK, and the Digital and Operational Resiliency Act (DORA) for European entities.

At the core of the enhanced solutions is abacusFlex, a comprehensive, secure and compliant integrated Managed Services Provider (MSP) and Managed Security Services Provider (MSSP) ecosystem, which is already trusted by more than 700 financial services customers globally. The solution provides clients with a full spectrum of security controls from baseline protection to advanced enterprise-grade security, all through a single platform that scales as needs evolve. abacusFlex will now be provided to clients via three tailored packages:

  • CyberBasic – providing baseline cybersecurity protection and fast onboarding for emerging and non-regulated firms
  • CyberCore – a comprehensive package of technical and process controls providing security protection for regulated financial services firms and addressing Operational Due Diligence (ODD)
  • CyberEnterprise – a sophisticated security ecosystem providing cyber-governance capabilities alongside advanced technology for regulated firms, with governance and risk management add-on services powered by Gotham Security

“As cyber threats continue to evolve, it’s critical that our clients know our top priority is keeping them secure, no matter their maturity and unique needs,” says Jonathan Bohrer, President at Abacus Group. “Leveraging extensive client feedback and insights from our cyber special forces at Gotham Security, we’ve revamped and upgraded our cybersecurity packages to provide the most advanced, comprehensive protection available. Our goal is to reduce cyber risk and simplify compliance so our clients can focus on their core business objectives. These enhancements deliver cyber defenses in a flexible, tiered model.” 

Abacus Group’s dedicated cybersecurity team, including certified ethical hackers from Gotham Security, will deliver the enhanced solutions, including real-world penetration testing, risk assessments, and ongoing monitoring and response through the company’s Security Operations Center (SOC). Abacus Group clients will maintain visibility into their firm’s cybersecurity program through a transparent Cybersecurity and Risk Management Dashboard, which was designed with ease-of-use and financial services regulatory requirements in mind.

The new cybersecurity packages are available immediately. For more information about Abacus Group and its services, please visit www.abacusgroupllc.com.

About Abacus Group
Abacus Group is a global Managed Services Provider with specialized cybersecurity expertise provided by Gotham Security, an Abacus Group company. Together with Gotham Security, a leading Managed Services Security Provider (MSSP), Abacus Group provides a one-stop-shop of IT and security solutions and services specifically designed for the unique needs of the financial services industry.

The innovative and award-winning abacusFlex platform allow financial services firms to source all technology and security needs as a service, offering the capacity to scale on demand to meet current and future cybersecurity, regulatory compliance, and storage requirements. The company has offices in New York, NY; San Francisco, CA; Boston, MA; Dallas, TX; Greenwich, CT; Los Angeles, CA; Charlotte, NC; Miami, FL; London, UK and Edinburgh, UK. For more information, visit www.abacusgroupllc.com. 

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United Payment secures e-money licence in Azerbaijan

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United Payment Secures E-Money Licence from Central Bank of Azerbaijan

Fintech company United Payment has proudly announced that it has secured an e-money licence from the Central Bank of Azerbaijan. This significant milestone marks United Payment as the first Turkish company to receive such a licence from the Azerbaijani central bank. With this approval, United Payment, which has been serving the region since 2021, can now offer enhanced capabilities including account opening, electronic money solutions, virtual POS services, and national and international money transactions within the legal framework.

Expanding Regional Presence

Beyond Azerbaijan, United Payment is active in Georgia, Romania, England, and Turkey. The new e-money licence will enable the company to further promote financial inclusion, expand digital payment channels, and advance cashless payment solutions in the region. As part of its expansion, United Payment is set to begin offering payment services through the Turan mobile application.

Strategic Development Goals

United Payment aims to provide comprehensive financial solutions to a diverse clientele, including banks, multinational corporations, small and medium-sized enterprises (SMEs), municipalities, and other fintech companies. The firm is dedicated to broadening access to financial instruments and enhancing financial inclusion in the regions it operates.

According to United Payment officials, the new e-money licence will not only allow the company to continue its operations in Azerbaijan but also expand its service offerings. Given the strong social and economic ties between Turkey and Azerbaijan, United Payment aims to solidify its market position in Azerbaijan. The company plans to offer a variety of services under regulatory compliance, including opening payment accounts, electronic and cash collections, credit collections, transactions with payment cards and similar systems, QR payments, money transfers, and e-money account services.

Source: thepaypers.com

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AXA named as an Official Partner of UEFA Women’s EURO 2025

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AXA has proudly announced its support for the UEFA Women’s EURO 2025 as an Official Partner, furthering its sponsorship programme initiated in 2020. The prestigious event will take place in Switzerland from July 2 to 27, 2025.

Commitment to Women’s Football

This partnership underscores AXA’s dedication to promoting women’s football, building on its long-term support for the sport. Since 2020, AXA has been the main sponsor of the AXA Women’s Super League and the AXA Women’s Cup in Switzerland. By investing in women’s football, AXA aims to bolster women’s sports and promote its brand ethos, “Know You Can,” encouraging self-belief among its customers.

Statements from AXA Leaders

Fabrizio Petrillo, CEO of AXA Switzerland, expressed his enthusiasm, saying, “I’m so excited to support UEFA Women’s EURO 2025 together with other European AXA companies as a main sponsor. We are sending a strong signal and making a contribution to ensure that the players and fans can experience a great event and further strengthen women’s football. I’m looking forward to a fantastic summer of football in 2025!”

Volunteering Opportunities

The partnership includes more than just financial support. AXA employees will have the opportunity to volunteer during the tournament as part of the UEFA Women’s EURO 2025 Volunteer Programme, playing a crucial role in the event’s success.

Guy-Laurent Epstein, UEFA Marketing Director, commented, “AXA is a dedicated supporter of women’s football in Switzerland, so we are thrilled to partner with them for what will be an unforgettable UEFA Women’s EURO 2025. We look forward to working together to make this the can’t-miss event of next summer while also strengthening women’s football in the host country and throughout Europe.”

Enhancing Visibility for Female Players

Andreea Prange, Head of Customer Experience & Strategy at AXA Switzerland, added, “Promoting women’s football is a topic I hold dear to my heart. That’s why I’m delighted that AXA, as a partner of the UEFA Women’s EURO 2025, is also committed to increasing the visibility of female players at the international level.”

Tournament Details

Doris Keller, Tournament Director of UEFA Women’s EURO 2025, stated, “AXA, a long-time supporter and partner of women’s football in Switzerland and globally, is a perfect fit to become a global partner of UEFA Women’s EURO 2025. We look forward to collaborating with AXA on the UEFA Women’s EURO 2025 Volunteer Programme, as the 2,500 volunteers will play a highly essential and valuable role throughout the tournament welcoming everyone to the host country.”

The UEFA Women’s EURO 2025 will feature 16 teams competing in eight Swiss cities, attracting an estimated 500 million viewers worldwide and offering over 700,000 tickets for fans to attend the matches live.

Partnership Duration

The partnership between AXA and UEFA will continue until the end of August 2025. The financial terms of the sponsorship remain confidential.

Source: fintech.global

The post AXA named as an Official Partner of UEFA Women’s EURO 2025 appeared first on HIPTHER Alerts.

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Lucinity Wins the Microsoft Partner Awards for 2024 for Partner of the Year – Iceland and Sustainability and Social Impact

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REYKJAVÍK, Iceland, May 28, 2024 /PRNewswire/ — Lucinity, a leading AI company for financial crime prevention, won two awards at the Microsoft Partner Awards for 2024, including Partner of the Year – Iceland and Sustainability and Social Impact, highlighting Lucinity’s innovations and contribution to positive societal change. 

“Congratulations to Lucinity for being recognized as the Partner of the Year – Iceland 2024! Lucinity is leading digital transformation and delivering innovative products in their domain,” says Microsoft’s leadership.

For the past year, they have played a key role with their offerings, skilled resources, and their ability to drive change and innovative solutions both locally in Iceland and across the globe. Lucinity has had significant social impact and growth while supporting our joint customers in their AI-transformation journeys.”

In June 2023, Lucinity launched the world’s first copilot for FinCrime prevention powered by Microsoft Azure OpenAI called Luci. Luci stands out in the financial services industry with specialized skills for FinCrime prevention such as adverse media checks, case analysis, and SAR writing. 

Built on the robust and scalable Microsoft Azure platform, Lucinity offers customers a trusted SaaS product. Additionally, Lucinity’s presence on the Microsoft Azure Marketplace allows companies to leverage their Microsoft Azure credits to access the platform. 

The seamless integration with Microsoft’s Azure stack has enabled Lucinity to implement advanced AI capabilities, fostering rapid innovation and enabling banks and fintech companies to utilize AI securely and audibly. Furthermore, Luci significantly reduces investigation times from 2.5 hours to just 25 minutes, saving Tier 1 banks an estimated $25 million annually.

Guðmundur Kristjánsson (GK)Lucinity’s Founder and CEO comments, “These awards are a testament to the strength and reliability of our solutions, made possible by our strategic partnership with Microsoft. Utilizing Microsoft Azure, we have been able to drive rapid innovation and create a robust, scalable platform that meets the rigorous requirements of compliance teams.” 

On the Sustainability and Social Impact Partner Award, Microsoft says, “Lucinity, with their innovative AI solutions, has really tried to combat this huge global challenge. They use ‘Human AI’ to enhance financial crime prevention, combining AI with human expertise for efficient, user-friendly solutions. Additionally, Lucinity has developed a tool called Luci, an AI-powered copilot that helps transform financial crime prevention from a process that took hours to one that takes minutes.”

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