Category: Apps

Cros is Launching to Streamline Collaboration between Enterprises on Distributed Ledger

  • A flagship project of Bussr Technologies, the leading Singaporean payments infrastructure platform for mobility companies

Cros Network (cros.network) is launching to streamline the collaboration between enterprises using distributed ledger. Cros is a cross-organizational platform designed to facilitate business process execution on a foundation of ownership, trust, and control. With this protocol, businesses can collaborate and securely execute their business processes in a tamper proof manner, without trusted intermediaries.

While the global B2B e-commerce market size is estimated to reach $20.9 trillion by 2027, the industry has operational shortcomings that would prove more inefficient inching towards this growth; especially that business process collaboration could triple to $100 billion in the next five years, with 80% spent moving, aggregating, cleansing, verifying and sharing data with other businesses and stakeholders. Enterprise revenues are estimated to decrease by 27 to 40% as coordination costs increase proportionally by degree of specialization. Retailers in Asia alone lose around $40 billion annually, reliant on siloed processes and absence of trust among enterprises.

The traditional view of markets and enterprises relies on sequential thinking, whether it is supply-chain or business value chain. Companies are slowly realizing that they are part of a larger network, not a link in a chain. This demands an ecosystem approach to resource planning, business process execution and collaboration between the various nodes of the network. Being a cross-organizational network built on distributed ledger, tamper-proof and seamless, Cros aims to fill in these gaps.

“The solution we envisioned was an innovative cross-org collaboration and integration platform; a decentralized integration platform, into which small and medium businesses can collaborate and correctly execute their business process without the need for trusted intermediaries,” says Cros’ visionary founder Ajay Bhandari, the former Google and Microsoft Chief Architect.

“Cros translates existing collaborative process models to distributed ledger and ensures that the process is secure and is executed correctly. Distributed ledger checks for compliance before changing a state of process, providing a single source of truth to all participants, and full traceability.”

Bhandari offers a solution for challenges related to data exchange, complicated transformations, traceability and shared truth, and trust between parties. Cros would be empowering enterprises to collaborate with ease, integrate with their IT infrastructure and Cloud ERPs, while preserving data guardianship and maintaining control.

Similar problems were solved within the enterprise (intra-business integration) utilizing databases, service bus and ERP systems. However, those technologies and platforms are insufficient for cross-enterprise collaboration, due to concerns of ownership, trust and control. Enterprise today runs on centralized systems, coordinating transactions between suppliers, vendors, business partners and regulators. It is difficult to build consensus on running and operating cross-enterprise collaboration while addressing ownership, trust, and control issues.

A paradigm shift is necessary, based on a completely revised definition of “ownership,” “control,” and “trust”, the hallmarks of the operational model of traditional business. Distributed ledger technology can be the enabler of such a paradigm shift towards cooperative competition, or “co-opetition”.

Cros is the flagship project of Bussr Technologies (bussr.com), a leading Singaporean payments infrastructure platform for mobility companies. Bussr Technologies is partnering with best-in-class entities to build Cros, and foster the development of services and applications that will run on it.

About Cros
Cros is the natural development evolved from the same ethos and philosophy of Bussr Technologies Ltd, with the aim to streamline collaboration between small, medium, and large enterprises using distributed ledger. Cros’ approach is from enterprise to distributed ledger, thereby easing the familiar challenges of integration with existing infrastructure. Learn more at www.cros.network or contact press@cros.network.

Media Contact
HA, Bussr Technologies
Email: press@bussr.com
Website: www.bussr.com

Vikrant Chowdhary Joins CleverTap as Company’s First-ever Chief Growth Officer

Enterprise tech business leader Chowdhary will lead the company’s global growth charter, integrating all go-to-market (GTM) efforts

CleverTap, the world’s leading user engagement and retention platform, today added a new dimension to its core leadership team with the appointment of Vikrant Chowdhary as Chief Growth Officer (CGO). Chowdhary will lead CleverTap’s integrated go-to-market (GTM) strategy globally across all commercial and enterprise segments.

Vikrant Chowdhary Joins CleverTap as Company’s First-ever Chief Growth Officer

Increasingly, business leaders with disruptive mindsets and an eagerness to evolve are imperative for companies to succeed. Chowdhary brings this forward-thinking to CleverTap through 25 years of experience and expertise leading hypergrowth teams.

“We are thrilled to have Vikrant join us as our partner for growth as we scale our business in key global markets and sectors and steer CleverTap to become a global leader in the user retention space for mobile-first digital businesses,” said Sunil Thomas, Co-founder and CEO of CleverTap. “For the first time, we will integrate all of our customer-facing functions – across sales, marketing, solution engineering, and partnerships – to make one CleverTap Growth team under Vikrant’s leadership.” Thomas elaborates on the pivotal importance of this in his latest blog on the CleverTap website.

Before CleverTap, Chowdhary worked with Salesforce, the world’s number one CRM company, where he directed India’s finserv vertical and enterprise business units. Previously, Chowdhary held country leadership roles with SAP – where he powered the growth of the BFSI and telecom business unit, which became one of the best-performing teams in the country – as well as Teradata, IBM, and select startups. He earned an MBA from NITIE, Mumbai, and a BSc in Mechanical Engineering from Dayalbagh Educational Institute.

“CleverTap has created a unique platform to help growth managers monetize behavioral economics for their real-time digital businesses, and I am truly excited and humbled to become an integral part of the company,” said Chowdhary. “I’m also excited to draw on my experience building growth units in vertical sectors powered by high-performance teams and have the opportunity to bring this capability to CleverTap.”

To learn more about CleverTap visit https://clevertap.com/

About CleverTap
CleverTap is a modern, integrated Retention Cloud that empowers digital consumer brands to increase customer retention and lifetime value. For brands that understand and value user retention, CleverTap drives context and individualization with the help of a unified and deep data layer, AI/ML-powered insights & automation. Customers around the world representing over 10,000 apps, including Vodafone Idea, SonyLIV, Daimler, Gojek, Carousell, and Premier League, trust CleverTap to achieve their retention and engagement goals, growing their long-term revenue.

CleverTap is backed by leading venture capital firms including Sequoia India, Tiger Global Management, and Accel. The company is headquartered in Mountain View, California, with offices in Mumbai, Singapore, and Dubai.

For more information, visit clevertap.com or follow us on LinkedIn and Twitter.

AppSealing Introduces Data Encryption Solution for Android Apps

The Data Encryption solution will help companies from the fintech, banking, and gaming industries meet their data security and protection needs in minutes, without ANY CODING

AppSealing, a leading mobile application security solution provider and a service of INKA ENTWORKS, announced the launch of its data encryption solution for Android applications.

With this solution, companies can protect a slew of sensitive data like authentication tokens, unique identifiers, and passwords from unauthorized access and modification. The premium addition of this solution to its mobile application protection suite further reiterates AppSealing’s commitment to enabling companies to fend off cyber attackers and prevent illegal application access, theft, deletion, or modification. Companies can now take better control of their data in a much more proactive manner.

The solution offers top-notch encryption architectures and supports AES 256 encryption, the strongest encryption standard in the world. It provides industry security standards like PCI DSS (Payment Card Industry Data Security Standard), GDPR (General Data Protection Regulation), and HIPAA (Health Insurance Portability and Accountability Act). Companies can be compliance-ready instantly without any coding or SDK integration.

James Ahn, CEO with INKA ENTWORKS, explains the relevance of data encryption for fintech companies: “Fintech industry is booming. The global fintech market, which was worth $128Bn in 2018, is expected to touch a figure of $310Bn in 2022. We have been collaborating with our clients to secure their mobile applications. Our latest offering of end-to-end data encryption further strengthens our mobile application security portfolio and leadership position in the market. We are pleased to make fintech, payments, banking, and gaming apps a lot more secure. We are excited to partner with our customers and help them be compliant, protect sensitive data, take relevant actions against hackers, and build their business and reputation confidently.”

“Digital banking enables companies to provide fintech and banking services at the touch of a button. It is a great way for companies to serve their customers, but it also means opening Pandora’s box since attackers are lurking around. Data localization restrictions also put an additional responsibility. With data encryption, we aim to help Fintech companies focus on customer experience, compliance with localization policies, and revenue generation within the safe walls of security,” says Govindraj Basatwar, Global Business Head with INKA ENTWORKS.

The key features include:
Whitebox AES 256 & FIPS 140-2 encryption for Android mobile devices, software, and operating systems
Runtime protection covering encryption keys, API keys, authentication tokens, etc.
End-to-end support system encompassing legacy native file input/output interface
Companies can thus leverage AppSealing’s data encryption solution to protect sensitive data pertaining to their Android applications. The robust encryption standards ensure 100% coverage of emerging attack vectors, to provide a complete safety net to mobile applications.

About AppSealing: AppSealing
AppSealing is the only cloud-based pay-as-you-go solution to protect mobile apps without writing a single line of code. Our solution is easy to use and allows you to protect mobile apps from hackers and illegal application modification, thus making them secure in run-time with RASP security features. AppSealing is a new App Security Service from INKA Entworks, a content security company dedicated to helping content developers and publishers protect their content from manipulation and theft.

About INKA ENTWORKS:
INKA Entworks is trusted by 1000+ customers globally, providing 360-degree, cloud-based end-to-end content security for OTT platforms, such as Multi DRM, Forensic Watermarking, Anti-Piracy services, Anti-screen capture/Recorder, App Security with Quick and Simple integration. It is a ONE-IN-ALL solution for OTT owners. INKA is one of only five companies authorized to provide DRM technology for Hollywood movie studios.

For more information, please contact:
Rupesh Shinde
rupesh@inka.co.kr
+1-213-550-5473

Rachana Chowdhary
rachana@mediavalueworks.com
+1-847-453-4357

Boku launches M1ST, the world’s largest mobile payments network, connecting Southeast Asia Digital Consumers to global merchants

Boku Inc. (AIM: BOKU) today announced the launch of the M1ST (aka Mobile First), the world’s largest mobile payments network. The M1ST Payments Network features an unrivalled 330+ mobile payment methods, including mobile wallets, direct carrier billing, and real-time payments schemes, reaching 5.7 billion mobile payment accounts in 90 countries – all through a single integration.

By 2022, middle class in Southeast Asia is expected to wield over US$300 billion in disposable income. The region’s middle class is expected to double to 51 per cent in 2030 from 24 per cent in 2020 – or from 135 million people to 334 million people. According to the World Bank, 45% of consumers globally use mobile wallets vs. just 18% that use credit cards for payments. In Boku’s 2021 Mobile Wallets Report showed that Southeast Asia will become the fastest growing mobile wallet region in the world: the number of mobile wallets in use by SEA consumers is projected to increase by nearly 25.5% to reach 439.7 million mobile wallets in use by the end of 2025.

“In a Confidence Index survey, 52 per cent of the merchants in SEA experienced a high level of growth during H1 2021 and 70 per cent of these merchants are expecting additional growth of more than 10 per cent in Q3 2021. This shows that despite the challenging times, digital consumers continue to make purchases digitally. The launch of M1ST will not only allow SEA merchants and digital consumers to connect within the region, but also to global markets seamlessly, with a payment method that is useful and convenient to them,” said Loke Hwee Wong, Vice President and General Manager, APAC at Boku.

However, mobile payment acceptance for global merchants is highly complex, especially due to the extreme fragmentation of mobile payment methods. M1ST solves a number of these challenges so that merchants can easily accept mobile payments, globally, and at scale, including:

– Standardization – M1ST removes the complexity of disparate technical, legal and contractual considerations, simplifying 330+ payment methods into a single, scheme-like network.
– Digitally Native – M1ST enabled payments are built to support the 0-tap subscriptions and 1-tap checkout transactions that enable new, online business models.
– Future-Proofed – By 2025, nearly 60% of consumers globally are projected to be using mobile wallets; the M1ST Network follows market demand to maximize merchant acceptance.
– Global Settlement – M1ST delivers merchants a single, global settlement, eliminating the complexity of local taxes, foreign exchange, and cash repatriation.
– Local Legal Infrastructure – Through payment licenses and local entities, M1ST is capable of accepting regulated payments in nearly 50 countries.

M1ST is designed to eliminate the difficulty of mobile payment acceptance so that merchants can accept mobile payments more quickly, at lower cost, and focus on building world-class user experiences that drive long-term, valuable relationships with their customers.

“We’ve seen a fundamental shift of consumer purchasing power from west to east, from established to emerging markets, and from credit cards to mobile payments. Today, we’re launching the M1ST Network to enable global merchants to acquire, monetize, and retain mobile-first consumers,” said Jon Prideaux, CEO of Boku. “For merchants to capitalize on the massive potential of mobile-first consumers, they need to accept the payment methods they have and prefer, which are increasingly behind glass screens, not rectangular pieces of plastic. We’ve spent the past decade delivering new customers to our merchants through mobile payments. Now that mobile payments have overtaken credit cards globally, merchant acceptance has moved from a competitive advantage to a strategic imperative.”

About Boku

Boku Inc. (AIM: BOKU) is the fintech powering the world’s largest mobile payments network, M1ST (Mobile First). With 45% of global consumers using mobile payment methods to buy goods online, compared to 18% using credit cards, the future of commerce is mobile-first. Boku’s technology platform helps the world’s most demanding merchants attract, convert, and retain customers using mobile payments. By turning payments infrastructure into a source of sustainable competitive advantage, Boku safely activates a range of new merchant business models – from bundling to subscriptions.

Boku’s platform is used in 90 countries with more than a billion verified transactions in 2020, contributing more than $8 billion to the digital economy. Customers that trust Boku to simplify sign-up, acquire new paying users and prevent fraud include global leaders such as Apple, DAZN, Facebook, Google, Microsoft, Netflix, PayPal, Sony, Spotify and Tencent.

Boku Inc. was incorporated in 2008 and is headquartered in London, UK, with offices in Brazil, China, Estonia, France, Germany, India, Indonesia, Japan, Singapore, Spain, Taiwan, Vietnam, and the US. To learn more about Boku please visit: https://www.boku.com

Boku in Asia

In Asia, Boku’s payment partners for Mobile Wallets include: AliPay, Dana, GCash, GoPay, GrabPay, KakaoPay, LINE Pay, Ovo, PayMaya, PayPay, Toss, Touch ‘n Go, Truemoney
Boku also partners with payment partners to offer Direct Carrier Billing: AIS, BSNL, Celcom, Digi, dtac, Globe, Indosat Ooredoo, Jio, Korea Telecom, KDDI, LG U+, Maxis, M1, NTT Docomo, StarHub, Singtel, Softbank, SK Telecom, Smart, Smartfren, Tata Docomo, Telkomsel, Three, TrueMove, Vodafone, XL (amongst others)

Enquiries:
PRecious Communications for Boku, Inc.
Singapore/Asia Pacific: Clarence Lim, boku@preciouscomms.com