Mary Blight – Page 3

SME spending signals growing confidence among APAC Businesses: Instarem SME Spend Barometer

On: November 28, 2024

SMEs are turning to online resources, AI, to tackle rising prices &amp, increase productivity
Malaysia &amp, Australia travel IT assets, with F&amp, B, IT &amp, technology solutions seeing biggest increases

SME spending signals growing confidence among APAC Businesses: Instarem SME Spend Barometer

Instarem, part of Nium, Southeast Asia’s payments unicorn, launched its 2024 SME Spend Barometer, revealing insights into the spending behaviours of small and medium-sized enterprises ( SMEs ) in Singapore, Australia and Malaysia. &nbsp,

Based on data from a test of 700 SMEs and some subjective interviews with customers, Instarem’s annual SME Spend Barometer record analysed spending patterns from January 2023 to August 2024, highlighting how SMEs are carefully investing in technology, infrastructure, and talent to react to an evolving financial landscape.

A determined method to growth
Trade payments increased by 6 %, indicating a meticulous yet positive outlook for global growth, thanks to Malaysia and Australia. In comparison, trade payments to Singapore decreased by 27 % year over year, indicating that local companies may be shifting their attention away from home goals in the face of rising costs and financial pressures. &nbsp,

Ashish Sangle, world Nose of Instarem, said:” Instarem has supported thousands of businesses in their development journeys over the years. Expanding internationally allows SMEs to gain access to wider user bases and exploit market opportunities for scale and growth. In today’s culture, a little caution is natural, but we anticipate that SMEs will continue to look for and exploit opportunities that are in line with their objectives.

Embracing AI and robotics
As evidenced by a 29 % increase in spending on data services over the same time period in 2023, the implementation of AI and digital change is accelerating across APAC. Malaysia and Australia are leading the charge in IT investments, with sectors like F&amp, B ( 120 % ), IT and software services ( 66 % ), and business consultancy ( 59 % ) registering the biggest gains. &nbsp,

In order to reduce rising costs and increase efficiency, several SMEs who were interviewed for the record are using AI, automation, and online tools. They are adopting process technology, AI-driven fraud detection, and advanced data analysis, among other alternatives to simplify businesses, minimise regular work, and optimise resources.

However, not every industry is embracing tech at the same rate, with financial services and business services cutting their information services spending by 42 % and 4 %, respectively.

SME spending signals growing confidence among APAC Businesses: Instarem SME Spend Barometer

Return to work picks up speed
SME employers in all three markets are reinvesting in physical infrastructure following years of hybrid or remote work, as evidenced by the 16 % increase in office expenses. Sectors like retail and wholesale, as well as business services, have seen office expenses rise by nearly 150 % and 70 %, respectively, suggesting a shift in how businesses are positioning themselves for long-term growth. This rise in commercial real estate demand also accounts for the more than doubled transaction volumes for real estate and leasing between 2023 and 2024.

These patterns are not universal, and some industries, like those in industrial manufacturing and construction (-48 % ), online retail (-44 % ), and telecommunications (-28 % ), are bucking the trend in favor of a more cautious strategy driven by market needs. &nbsp,

Our decision to invest in physical office spaces in Vietnam and the Philippines has been influenced by employee demand for in-office collaboration. By balancing these investments with our offshoring model, Net Fusion Technology’s group managing director George Votava said that while promoting greater collaboration and innovation, the company can better manage costs. &nbsp,

Balancing talent and growth
Despite broader economic pressures, SMEs are n’t scaling back on talent investments, with salary payments up 7 %. In Singapore, salary investments stayed flat, with some sectors, including media and marketing ( 13 % ) and business services ( 3 % ) even increasing their spending on third-parties ( external advisors ) to drive growth. This suggests a strategic shift to increase internal teams without significantly enlarging the field.

According to the country’s Wage Price Index and the 3.7 % increase in the National Minimum Wage, salary payments among SMEs in Australia have increased modestly ( 3 % ), indicating that businesses are placing a premium on retaining key talent while managing costs. &nbsp,

What’s ahead
These findings demonstrate that SMEs are putting their weight on high-impact investments, such as digital transformation, while using measured tactics elsewhere. Resources are still being put under pressure, though, due to challenges like fluctuating exchange rates and high processing costs.

” Managing costs is a top priority for SMEs, particularly in critical areas like talent and expansion”, said&nbsp, Sangle. ” Thinking strategically about payments can free up important resources for growth and prepare SMEs for long-term success,” according to the statement” not only help to reduce high cross-border fees and improve cash flow.”

For more insights, download Instarem’s 2024 SME Spend Barometer Report here.

Equinix, National University of Singapore partner to explore sustainability and energy solutions for data centers

By: Mary Blight

On: November 28, 2024

In: Technology

Co-innovation hospital set to open in Q1 2027
Aims to test effective, reliable software with companions &amp, customers

Equinix, National University of Singapore partner to explore sustainability and energy solutions for data centers

Equinix, Inc., the world’s digital infrastructure company, and the Centre for Energy Research &amp, Technology ( CERT ) under the National University of Singapore’s College of Design and Engineering ( NUS CDE ), have announced plans to establish a Co-Innovation Facility ( CIF ) in Singapore. This program aims to accelerate the development and testing of modern answers for low-carbon power, high-efficiency heating, curvature, and energy efficiency in information areas. In accordance with conservation objectives, the Freight will determine how the digital infrastructure may develop in Singapore and other tropical areas.

Singapore’s digital economy has grown at a compound annual growth rate of nearly 13 % since 2017, contributing 17.3 % to GDP in 2022. The nation continues to grow as a global business and innovation hub with over US$ 340 million ( RM3.2 billion ) allocated for the development of artificial intelligence ( AI ) over the next five years. Data centers may adopt sustainable practices to efficiently manage energy consumption and processing needs as digital demands increase.

The CIF, set to open in Equinix’s upcoming SG6 International Business Exchange ™ ( IBX ) data centre, is part of Equinix’s Data Centre of the Future Initiative. It will serve as an empty study hub for global tech innovators, data center partners, education, and customers to test technologies focusing on consistency, power efficiency, and cost efficiency.

To address the rising computational demands of AI, Equinix has made an initial investment of US$ 4 million ( RM17.8 million ) in the CIF, which will look into innovations like integrating clean and renewable energy sources, alternative power sources, and liquid cooling. The service will even test Cognitive Digital Twin features, which will enable predicted maintenance and upgrades to address problems with the company’s recent data center models.

Lee May Leong, managing director, Singapore, Equinix, said:” The effects of climate change are being felt around the world, and it is becoming increasingly essential to embed best techniques in every aspect of our procedures. We are making a major step forward in advancing our” Potential First” sustainability agenda by reviving our successful Co-Innovation Service from Ashburn and expanding our creative efforts in the Asia-Pacific area.
She continued,” It may accelerate the development of cutting-edge technology and use practical solutions to help lessen the carbon footprint of the growing number of data centers worldwide.”

Professor Lee Poh Seng, producer, Centre for Energy Research &amp, Technology, NUS College of Design and Engineering, said:” The creation of the Co-Innovation Service highlights our commitment to forging effective business partnerships that convert groundbreaking research into functional uses. Working with Equinix allows us to draw on our knowledge of sustainability and power development to address pressing issues affecting data centers in humid climates.

” Collectively, we aim to redefine measures for functional efficiency and sustainability in digital equipment, aligning with Singapore’s interests for sustainable development and industrial leadership. This agreement is a powerful move ahead in shaping a prospect where cutting-edge development meets economic responsibility”, he added.

Important Features

To get opened in Q1 2027, the CIF did test lasting improvements for data areas, such as:
- Direct current power distribution system: This electrical power distribution architecture, known as medium voltage AC to low-voltage DC ( MVAC-LVDC ), facilitates the seamless integration of battery energy storage systems, solar photovoltaics, and other renewable energy sources with data centre power distribution networks. It has the potential to enhance grid-side power quality, efficiency, and power density for data centres.
- This cutting-edge cooling technique optimizes space while reducing energy consumption and noise. By allowing circular data center models, it also increases the possibility of recycling leftover heat.
- Digital twin capabilities: Data-driven models and machine learning will be utilised to enable predictive maintenance and upgrades.

Equinix and NUS have long supported Singapore’s sustainability goals and implemented a number of initiatives, including scholarships for NUS students interested in finding solutions based on nature-based climate change. In 2022, Equinix, together with the Department of Electrical and Computer Engineering and CERT, both under NUS CDE, collaborated to explore hydrogen-based green fuel technologies for mission-critical data centre infrastructure.

The study compared PEM fuel cells and fuel-flexible linear generators, highlighting their efficiency and potential as backup power solutions, particularly in tropical climates. In 2023, the results were released.

Mimecast appoints David Sajoto as the new vice president and general manager for Asia-Pacific and Japan

By: Mary Blight

On: November 28, 2024

In: Technology

Tasked with expanding partnerships, seizing development prospects
previous senior vice president of Vectra AI in Japan and Asia-Pacific

Mimecast appoints David Sajoto as the new vice president and general manager for Asia-Pacific and Japan

Mimecast, a leading global human risk management platform, has appointed David Sajoto ( pic ) as vice president and general manager for Asia-Pacific and Japan. In a statement, the business highlighted Sajoto’s management experience, revolutionary impact, and profound understanding of the technology ecosystem.

It’s an honor to join Mimecast as APAC and Japan VP and GM, and I look forward to working with our region’s growth-driven group. Collectively, we are focused on strengthening collaborations and seizing new opportunities to increase our options”, Sajoto said.

Sajoto, a security specialist with a proven track record of identifying fresh trends and implementing market strategies, has been instrumental in shaping important initiatives in the technology sector. He is dedicated to developing innovation and business development while also being known for his customer-centric approach and dedication to cultivating a cooperative culture. He has been instrumental in guiding businesses through online transformations and navigating the complex complexities of a rapidly changing digital scenery.

Sajoto’s management and major contributions to the state’s business growth and development earned him the title” Business Leader of the Year” at the Asia Pacific Business Awards 2023-2024.

Before joining Mimecast, Sajoto served as senior vice president for Vectra AI in Asia-Pacific and Japan. He has even held management roles at firms such as ExtraHop, Ixia, BMC Software, Gigamon, Oracle, and Dynatrace. He graduated from Monash University with a master’s degree in business methods and a triple degree in computer science and engineering.

Sajoto will be the novel vice president and general manager for Asia-Pacific and Japan,” with great excitement.” He may play a crucial role in driving business development and strengthening partnerships across the region thanks to his command and experience, according to Mimecast’s key customer and profit officer, David Helfer.

foodpanda Singapore appoints Aditi Sharma as new managing director

By: Mary Blight

On: November 28, 2024

In: Technology

Originally the co-founder, COO &amp, CFO of Grow Commerce&nbsp,
Tasked to generate foodpanda’s devotion to innovation and excellence

foodpanda Singapore appoints Aditi Sharma as new managing director

foodpanda, Singapore’s leading food and food delivery app has announced the appointment of Aditi Sharma as its fresh managing director.

Aditi may oversee all aspects of foodpanda Singapore’s operations, with a focus on enhancing customer experiences, empowering trader and supply partners, and driving business development. In her position, she may continue to drive foodpanda Singapore’s devotion to innovation and excellence, as the business grows its ecology and services.

Prior to joining foodpanda, Aditi was the co-founder, chief operating officer, and chief financial officer of Grow Commerce, an multichannel businesses platform that enables consumer businesses to reach exponential development. She brings over 15 years of experience in tech, consulting and e-commerce, extending walk building, change and strategic alliances across Southeast Asia and India.

This makes her well placed to direct foodpanda Singapore into its second book, where she will focus on creating price for all communities within the supply habitat, including customers, supply partners, and merchant partners.

” Foodpanda has transformed how Singaporeans perceive pleasure.” I look forward to leading its future growth stage by developing on this basis, using technologies to strengthen our relationships with our customers, and offer growth opportunities for our partners and supply teams,” Aditi said.

e-ConomySEA 2024 report: Malaysia’s digital economy to hit US bil in 2024

e-ConomySEA 2024 report: Malaysia’s digital economy to hit US$31 bil in 2024

By: Mary Blight

On: November 26, 2024

In: Technology

Online travel led sector growth with a 19 % increase, reaching US$ 8B GMV
E-commerce, M’sia’s leading online source grew 17 % to US$ 16B GMV in 2024

e-ConomySEA 2024 report: Malaysia’s digital economy to hit US$31 bil in 2024

Malaysia’s digital economy is set to reach US$ 31 billion ( RM138.48 billion ) in Gross Merchandise Value ( GMV) in 2024, marking a 16 % increase from 2023, according to the latest e-Conomy SEA 2024 report by Google, Temasek, and Bain &amp, Company.

Good growth patterns in all electronic sector are present.

Malaysia’s online business continues its development towards success while sustaining double-digit GMV development. The report shows deeper online membership, successful crowdfunding strategies, and healing in pandemic-impacted sectors as key drivers of this growth.

Online travel: Posting the fastest GMV growth among sectors, online travel expanded by 19 % year-on-year to US$ 8 billion ( RM36 billion ) GMV. In 2024, Malaysia’s strong growth in worldwide tourism is anticipated to exceed pre-pandemic levels. Spending on international travel has increased 330 % since 2020, with the Asia-Pacific place accounting for 38 % of outgoing expenses. Visitors from Southeast Asia ( SEA ) represent nearly half ( 49 % ) of Malaysia’s inbound travel spend, driven by enhanced air connectivity, strategic airline partnerships, and favourable exchange rates.

e-ConomySEA 2024 report: Malaysia’s digital economy to hit US$31 bil in 2024

]RM1 = US$ 0.22]

The growth of Malaysia’s online media industry has been consistent, with its GMV projected to increase 10 % from$ 3 billion in 2023 to$ 4 billion in 2024, as a result of the growing demand for digital content, video games, and streaming services.
As a number of Malaysia’s online banks provide powerful features and are simple to accessibility, contributing to the rapid expansion of the DFS landscape, online financial services is on a roll. Digital wealth is expected to grow significantly, reaching an assets under management ( AUM) of about$ 80 billion by 2030, while digital payments are anticipated to increase by 5 % from 2023 to$ 172 billion by 2024.

e-ConomySEA 2024 report: Malaysia’s digital economy to hit US$31 bil in 2024

Malaysia to capture the AI option

Artificial Intelligence ( AI ) is reshaping Malaysia’s digital economy. The government’s commitment to responsible AI development through the Malaysia AI Roadmap 2021-2025 and the upcoming launch of the National AI Office ( NAIO ) underpins this transformation. The report identifies Malaysia as one of the top ten states globally for AI research interest, especially in training, advertising, and entertainment, with Kuala Lumpur, Putrajaya, and Selangor leading the way.

The demand for AI infrastructure may increase as more businesses use it to develop, increase efficiencies, and enhance customer experiences as well as to create new concepts. Malaysia invested$ 15 billion in AI network in H1 ’24 to meet this demand. According to the report, Malaysia’s existing data center capacity is 120MW, and it anticipates an increase of 5X over the next few years.

Malaysia has seized the AI possiblity thanks to strategic activities like KL20, which will support Malaysia’s startup habitat by promoting high-tech industries, obtaining tax exemptions for foreign investments, and providing$ 1 billion in federal funding for startups in Malaysia and the location.

We want to get a local hero for modern policies that are forward-thinking and transformative, encourage a regulatory environment that encourages scientific advancement, and foster cross-border collaboration as Malaysia assumes the Asean Chairmanship next year. The e-Conomy report serves as a powerful affirmation of our efforts and is not just a report, it is a testament to Malaysia’s enormous potential, according to Gobind Singh Deo, minister of digital, who was represented by Fabian Bigar, minister of digital, at the event.

” It is a call to action for all of us – the government, the private sector, and the people of Malaysia to collaborate and realise our nation’s full digital potential. Let us seize this opportunity and together, build a digitally empowered Malaysia that is prosperous, inclusive, and sustainable”, he added.

e-ConomySEA 2024 report: Malaysia’s digital economy to hit US$31 bil in 2024 Meanwhile, Farhan Qureshi ( pic ), country director for Google Malaysia said:” We have been seeing a consistent strong growth of Malaysia’s digital economy and this year is another strong testament of the potential of Malaysia’s digital economy. With the region’s focus on AI, it’s encouraging to see the country’s leaders are putting AI and semiconductors in the country’s priority list”.

By empowering the local workforce with AI-ready skills and tools, we at Google are committed to further supporting Malaysia’s digital economy’s growth. We are committed to keeping Malaysia at the forefront of the digital age, he added, from funding scholarships for young people to develop AI-ready skills through Google Career Certificate scholarships to deploying Google Workspace for public officers.

Amanda Chin, partner, Bain &amp, Company, noted:” Southeast Asia’s digital economy thrives on double-digit GMV and revenue growth and a surge in profitability across sectors led by key players. Likewise in Malaysia, we see a healthy digital economy driven by e-commerce, online travel and digital financial services”.

” As the country’s DFS sector embraces digital disruption, new technologies such as AI are poised to accelerate growth. Businesses must move beyond experimentation and invest in fundamental elements in order to align AI initiatives with core business objectives to address real-world issues and create tangible value, strengthen AI talent, and create scalable, adaptable infrastructure for sustained growth, she added.

Geia Lopez, head of data, insights, and international growth at Google Southeast Asia, added:” Investments in AI and the growing interest in its applications signal a bright future for Malaysia’s digital economy. To maintain this momentum and foster trust in the changing digital landscape, it is important to prioritize digital security, though.

Click here to download the report.

e-ConomySEA 2024 report: Malaysia’s digital economy to hit US billion in 2024

e-ConomySEA 2024 report: Malaysia’s digital economy to hit US$31 billion in 2024

By: Mary Blight

On: November 26, 2024

In: Technology

Online travel led sector growth with a 19 % increase, reaching US$ 8B GMV
E-commerce, M’sia’s leading online source grew 17 % to US$ 16B GMV in 2024

e-ConomySEA 2024 report: Malaysia’s digital economy to hit US$31 billion in 2024

Malaysia’s digital economy is set to reach US$ 31 billion ( RM138 billion ) in Gross Merchandise Value ( GMV) in 2024, marking a 16 % increase from 2023, according to the latest e-Conomy SEA 2024 report by Google, Temasek, and Bain &amp, Company.

Good growth patterns in all modern sector are present.

Online travel: Posting the fastest GMV growth among sectors, online travel expanded by 19 % year-on-year to US$ 8 billion ( RM36 billion ) GMV. In 2024, Malaysia’s strong growth in global tourism is anticipated to exceed pre-pandemic levels. Spending on international travel has increased 330 % since 2020, with the Asia-Pacific place accounting for 38 % of outgoing expenses. Visitors from Southeast Asia ( SEA ) represent nearly half ( 49 % ) of Malaysia’s inbound travel spend, driven by enhanced air connectivity, strategic airline partnerships, and favourable exchange rates.

e-ConomySEA 2024 report: Malaysia’s digital economy to hit US$31 billion in 2024

]RM1 = US$ 0.22]

The growth of Malaysia’s online media industry has been consistent, with its GMV projected to increase 10 % from$ 3 billion in 2023 to$ 4 billion in 2024, as a result of the growing demand for digital content, video games, and streaming services.
As a number of Malaysia’s online banks provide powerful features and are simple to accessibility, contributing to the rapid expansion of the DFS landscape, online financial services is on a roll. Digital wealth is expected to grow significantly, reaching an assets under management ( AUM) of about$ 80 billion by 2030, while digital payments are anticipated to increase by 5 % from 2023 to$ 172 billion by 2024.

e-ConomySEA 2024 report: Malaysia’s digital economy to hit US$31 billion in 2024

Malaysia to capture the AI option

The demand for AI infrastructure may increase as more businesses use it to develop, increase efficiencies, and enhance customer experiences as well as to create new concepts. Malaysia invested$ 15 billion in AI network in H1 ’24 to meet this demand. According to the report, Malaysia’s existing data center ability is 120MW, and it anticipates an increase of 5X over the next few years.

e-ConomySEA 2024 report: Malaysia’s digital economy to hit US$31 billion in 2024 Meanwhile, Farhan Qureshi ( pic ), country director for Google Malaysia said:” We have been seeing a consistent strong growth of Malaysia’s digital economy and this year is another strong testament of the potential of Malaysia’s digital economy. With the region’s focus on AI, it’s encouraging to see the country’s leaders are putting AI and semiconductors in the country’s priority list”.

Click here to download the report.

EdgePoint Infrastructure, CelcomDigi ink partnership to expand connectivity in Malaysia

By: Mary Blight

On: November 26, 2024

In: Technology

Partnership lays basis for future-ready communication solutions
Both events to work on expanding CelcomDigi’s communication reach

From left: Suresh Sidhu, CEO, EdgePoint Infrastructure, Muniff Kamaruddin, CEO, EdgePoint Towers, Idham Nawawi, CEO, CelcomDigi Bhd and Joachim Rajaram, chief corporate affairs officer, CelcomDigi

EdgePoint Towers Sdn Bhd, part of EdgePoint Infrastructure, an Asean-based independent telecommunications infrastructure company, has partnered with Malaysia’s leading mobile network operator ( MNO ), CelcomDigi Bhd. At the top-notch occasion for members of the Asia-Pacific building industry, TowerXchange Meet Up Asia 2024, the partnership was officially established.

To collaborate on expanding CelcomDigi’s connectivity reach, achieving network synergies, and lowering costs, EdgePoint Towers and CelcomDigi signed a Memorandum of Agreement ( MoA ). In addition, the agreement allows for more advanced connectivity options, such as tiny cells and in-building systems, to increase interior coverage and meet growing data demands.

Muniff Kamaruddin, CEO of EdgePoint Towers, said:” This association extends the powerful connection between EdgePoint and CelcomDigi. We are looking forward to helping CelcomDigi realize the advantages of the acquisition and get ready for growth in the future.

As Malaysia’s connection goals become more advanced, he continued,” We are committed to quickly creating and deploying innovative technology and equipment that is adaptable to the needs of consumers and businesses across the country.”

Idham Nawawi, CEO of CelcomDigi, commented:” Malaysia is poised to direct the area in 5G and AI growth. Our responsibility is to create a state-of-the-art system that advances the country into a 5G and AI-powered modern society. Partnerships like this allow us to optimise our just modernised network, increase coverage, and promote Malaysia’s online transformation”.

A partnership was signed between Malaysian Technical Standards Forum Bhd ( MTSFB) and Persatuan Penyedia Infrastruktur Telekomunikasi Malaysia ( PPIT ) at the same time. The contract underscores commitments to community connectivity, safety, and commitment to technical requirements for network services and facilities.

PPIT’s leader, Muniff Kamaruddin, signed the agreement alongside MTSFB CEO Normarinee Mohd Nor. Speaking at the event, Normarinee said:” As the communications sector evolves rapidly, it’s vital to establish forward-thinking, important criteria that generate innovation while ensuring stability, protection, conservation, and portability. To create a more connected and green coming, we want to encourage collaboration between business leaders, regulators, and engineering providers.

EdgePoint now owns more than 15, 000 buildings across Malaysia, Indonesia, and the Philippines.

MediSun Energy raises US.75 mil seed round with Vynn Capital

MediSun Energy raises US$8.75 mil seed round with Vynn Capital

By: Mary Blight

On: November 25, 2024

In: Technology

MENA development and advancement of ionic energy innovation are the goals of Ambassador.
Tech&nbsp, can become critical for industries&nbsp, that require creativity in power management

A Singapore-based company with a focus on advanced osmotic ( blue ) energy technology, MediSun Energy Pte Ltd, has successfully secured US$ 8.75 million ( RM$ 39.1 ) in funding and established a strategic partnership with Southeast Asian venture capital firm Vynn Capital Sdn Bhd. The funding consists of US$ 5 million ( RM22.34 million ) in venture debt and US$ 3.75 million in equity financing, bringing the company’s valuation to US$ 44 million.

]RM1 = US$ 0.224]

The parties stated in a joint statement that this was one of the major investments made by the Mobility and Supply Chain fund of Vynn Capital, which was supported by some institutional investors in Malaysia and other local limited partners.

The money round, led by Vynn Capital, attracted many new buyers, including MOAJ Holding, a leading Royal investment firm, Frank Phuan, TNB Aura, a Singapore-based venture capital firm participating through its Scout Initiative, and Ciri Ventures, a weather tech-focused venture capital firm. In addition, MOAJ Holding has also pledged to fund a native joint venture by putting up up to US$ 30 million into Medisun’s Saudi Arabia company.

The collaboration aims to strengthen MediSun’s research and development capabilities and expand its development into the MENA area. One facility will be set up for load generation, the other for load production, according to MediSun.

Dusun Kim, Founder &amp, CEO of MediSun, stated:” At MediSun, we are dedicated to making the world green and better. Our zero-brine technology not only produces fresh, clean energy, but also benefits from a more lasting future. We will be able to expand our businesses and introduce our creative alternatives to new markets thanks to our new collaboration with Vynn Capital. We are committed to utilizing this opportunity to advance our goal of addressing the most pressing economic issues.

Victor Chua, Founding &amp, Managing Partner of Vynn Capital, added:” MediSun’s options are essential in solving water supply chain and lack concerns while achieving net-zero coal goals by reducing energy consumption. Over the medium word, we believe such systems can also be critical for various industries, such as freedom and business sectors, that require creativity in energy management. This is especially important given the tale that Southeast Asia and Malaysia play a bigger part in the renewable energy sector.

In addition to supporting MediSun’s development, Vynn Capital is constantly exploring different options and companies in important areas such as Singapore, Thailand, and Indonesia. This agreement places both businesses at the forefront of innovation and sustainability in the region because Southeast Asia’s liquid systems market is anticipated to grow significantly.

Banking on connectivity: How Equinix is revolutionizing BFSI infrastructure

By: Mary Blight

On: November 21, 2024

In: Technology

Revolutionizing finance through global digital communication

Banking on connectivity: How Equinix is revolutionizing BFSI infrastructure

In today’s banks, financial services, and coverage ( BFSI) business, interlinking is not just a buzzword—it’s the lifeblood of online transformation, driving a tectonic shift in how financial organizations operate and develop. At the heart of this revolutionary stands Equinix, a digital infrastructure business that’s weaving a global cloth of communication, redefining how economic companies operate, develop, and secure their digital assets. &nbsp,

Equinix’s position in the BFSI market is little short of revolutionary. Equinix has created a strong, global habitat that’s driving creativity and collaboration. The amazing breadth and breadth of the Equinix economic services ecosystem reflect this wide range. Using Equinix’s connectivity options, BFSI habitat participants continue to build and expand their services in the modern economy. &nbsp,

Beyond traditional financial institutions, this habitat also includes all major public cloud service providers, many financial organizations, data analytics companies, LLM and AI providers, and technology providers. A detailed network like this promotes innovation and new business models by facilitating smooth cooperation and data exchange.

enhancing the digital equipment needed for contemporary bank

At the core of this habitat is Platform Equinix®, which is at the frontline of enabling cutting-edge online banking services. By providing low-latency connections to a multitude of partners, including sky providers, system operators, surveillance and fintech companies, Equinix allows banks to produce future-ready platforms that can leverage various technologies through API calls.

This infrastructure flexibility is crucial in today’s multi-cloud environment. For instance, a bank can now run its front-end applications on AWS, use Google BigQuery for analytics, and tap into AI services from Microsoft or OpenAI, all while maintaining its core banking systems and customer data within Equinix’s secure data centers. &nbsp,

Equinix Fabric® facilitates this hybrid multi-cloud approach, enabling banks to provide their customers with the quickest and most innovative services without sacrificing security or performance. &nbsp,

Tariq Shallwani, head of Segment Strategy South Asia, Equinix, shared,” Over 85 % of enterprises are already using multiple clouds to gain agility. BFSIs have a transformative opportunity to leverage innovation from the cloud while avoiding vendor lock-in as new public cloud availability zones are launching in Malaysia.

Banking on connectivity: How Equinix is revolutionizing BFSI infrastructure

In a connected world, strengthening cybersecurity

As financial services become increasingly digital and interconnected, cybersecurity has become a paramount concern. Equinix addresses this issue head-on by providing safe, private options for connecting to the public internet, significantly reducing the threat of cybercrimes.

Central to this security strategy is Equinix Fabric, which allows financial institutions to create private, software-defined connections to their partners and service providers. By reducing latency, this increases both performance and security. &nbsp,

Building on this foundation, Equinix’s Network Edge service offers software-defined edge security solutions, including SD-WAN, firewalls, and routers as a service, extending the coverage to new markets and edge metros.

Navigating compliance in a global landscape

While enhancing security, financial institutions must also navigate a complex web of regulatory requirements. Global financial institutions face a significant challenge in ensuring compliance with data sovereignty and financial regulations. Equinix’s global presence, with data centers in key financial hubs worldwide, allows banks to maintain data residency while still accessing global markets.

Banks expanding their reach benefit most from this global-local approach. For instance, a bank in Malaysia can use Equinix’s facilities in Singapore or Hong Kong to access the region’s robust financial ecosystem while adhering to local data laws. Banks can expand their services internationally while maintaining the necessary regulatory compliance in each country.

Enabling real-time financial services

The future of banking is not just global and secure—it’s also real-time. Equinix’s low-latency connections and location of data centers close to major financial hubs help to realize this. This infrastructure enables banks to process transactions and analyze data in near real-time, a capability that is crucial for services like high-frequency trading, real-time fraud detection, and instantaneous cross-border payments.

Additionally, Equinix’s edge computing capabilities enable the financial sector to integrate IoT and AI technologies. For instance, insurance companies can now process data from IoT devices in real-time, enabling more accurate risk assessments and faster claims processing. This convergence of advanced technologies and real-time capabilities opens up new horizons for financial services.

Together with Equinix and Orange Business, the two companies have established a strong partnership to provide BFSI clients with appropriate solutions that are customized to their requirements. Disaster recovery is one of these options, from new, innovative service offerings to the re-architecture of the IT infrastructure in data centers and the cloud. &nbsp,

Christophe Ozer– head of Evolution Platform Orange Business APAC – Cloud, Connectivity, Cybersecurity, shared,” Through our partnership, Orange Business and Equinix are enabling financial institutions to unlock new levels of agility and security, ensuring they remain at the forefront of innovation while meeting the demands of a rapidly changing financial landscape”.

Sustainability in finance

Now, as the financial sector evolves technologically, it’s also grappling with its environmental impact. Here too, Equinix is leading the charge towards sustainable digital infrastructure. Despite growing its global data center footprint and vowing to reach 100 % clean and renewable energy coverage across its global portfolio of data centers by 2030, Equinix reduced its operational scope 1 & 2 emissions by 24 % from a 2019 baseline in 2023. &nbsp,

This initiative extends to all facilities, whether newly constructed or recently incorporated into the company’s portfolio. In Malaysia, Equinix’s data centers are 100 % renewable, and in 2023, Equinix’s global operations had a total renewable energy coverage of 96 %, surpassing 90 % for the sixth consecutive year…

Financial institutions can use cutting-edge digital infrastructure to achieve their own environmental goals while achieving these goals. It’s a win-win scenario where technological advancement aligns with environmental responsibility.

Future-proofing finance

The impact of interconnected ecosystems in finance will only increase as the years go on. Equinix is at the forefront of this trend, expanding its global reach and improving its services indefinitely. The company’s recent expansion into Southeast Asian markets like Malaysia demonstrates its commitment to supporting the sustainable expansion of emerging markets ‘ digital financial services.

For banks and financial institutions, partnering with Equinix offers a clear path to digital transformation. It provides access to a global ecosystem of partners, secure, sustainable and high-performance infrastructure, and the flexibility to innovate and scale rapidly. Equinix’s interconnected ecosystems will undoubtedly have a significant impact on shaping the future of finance as the landscape of the financial services industry continues to evolve.

Ultimately, in this increasingly digital and interconnected world, Equinix is not just providing sustainable infrastructure – it’s powering the future of finance. By enabling secure, compliant, and innovative financial services, Equinix is helping to create a more connected and efficient global financial system, benefiting institutions and consumers alike. &nbsp,

As technology develops, the interaction between financial services and digital infrastructure will continue to spur innovation, creating a more diverse and dynamic financial ecosystem.

Prudential launches global AI Lab in Singapore

By: Mary Blight

On: November 21, 2024

In: Technology

Lab may make Artificial solutions to improve customer experience, generate business impact
Since August, more than 100 AI use instances have been submitted to the test by Prudential staff.

Prudential limited has launched the Prudential AI Lab in Singapore, with the aim of accelerating the implementation of AI, conceptual AI, and system teaching organisation-wide.

In a statement, the business said its AI Lab will hatch AI-powered remedies designed to deliver a better user experience and important business influence, while integrating AI capabilities into its operations, services, and products. Following its delicate start in August 2024, more than 100 Artificial use instances have been submitted to the Lab by people across Prudential’s 24 industry in Asia and Africa, it added.

The Monetary Authority of Singapore, the Ministry of Digital Development and Information, the Economic Development Board of Singapore, and other organizations have all contributed to the creation of the Prudential AI Lab. It was developed in partnership with Google Cloud, which gives Prudential people access to cutting-edge AI answers and end-to-end technical assistance.

The Lab may prioritize solutions that improve Prudential’s functional excellence and improve patient access to high-quality care. With enhanced consulting capabilities, AI will also help economic representatives provide better, faster customer service. A dedicated staff of Singapore-based AI engineers and data scientists may work in the laboratory.

Anil Wadhwani, CEO of Prudential corporation, said,” Data, advanced analysis, and AI are critical to the distribution of our corporate objectives. The AI Lab will electrify the development of interesting applications such as predicted analytics, hyper-personalised customer relationship, and real-time advice for agents”.

” I think the enormous potential and significance of this technology are only beginning to be explored.” The Prudential AI Lab will substantially improve our ability to offer our clients, agents, and economic representatives in all areas, he added.

Wadhwani said in a statement about the partnership with the Singapore authorities that” Prudential’s global AI Lab is located in Singapore because of its powerful system and friendly atmosphere for AI development, noted by its National AI Strategy. Our relationship with EDB and MAS allows us to click into Singapore’s rich community of tools and skills from academia, business, and state. This partnership will significantly advance our ability to create novel solutions that improve business and customer experiences while enhancing AI capabilities.

Meanwhile, Gillian Tan, assistant managing director ( Development and International ) and chief sustainability officer of the Monetary Authority of Singapore ( MAS ), said,” Prudential’s AI Lab is aligned with Singapore’s Smart Nation 2.0 goal to encourage businesses to utilise AI and technology to raise productivity, transform, and serve customers better. Financial institutions will continue to benefit from AI as they develop capabilities and use it to increase their client and consulting services, detect fraud, and generate danger insights.

fostering an effective ecology to support AI inventors

According to Prudential, the Lab will collaborate closely with ecosystem partners, such as institutes of higher learning ( IHLs ), research centres, government agencies, and technology partners.

It has already entered into contracts with some IHLs, including Singapore Management University School of Computing and Information Systems, Republic Polytechnic, Singapore Polytechnic, and the National University of Singapore Asian Institute of Digital Finance. By providing hands-on experiences and nurturing information sharing and innovation, The Lab will join students from these neighborhood schools in order to prepare the next generation of AI specialists.

Students on jobs with Prudential and those whose final-year projects are selected will work alongside the Lab, its mate ecology, and Prudential’s company units to develop proofs-of-concept for selected use cases.

Mary Blight (Page 3)