OT (Oberthur Technologies), a leading global provider of embedded security software products, services and solutions, today announces that it has received certification from the Cartes Bancaires group (CB), a French Economic Interest Group (EIG) bringing together nearly 120 payment services establishments, for its dynamic security code payment card MOTION CODE^TM, a world first.

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« Motion Code » (Photo: Business Wire)

Functional and security tests applied to OT MOTION CODE^TM were deemed fully compliant with the requirements of CB group, thereby allowing it to receive CB certification.

As a world exclusive, in May 2015, OT had announced OT MOTION CODE^TM, the new standard in dynamic security code payment cards. This 3-digit code displayed on the back of the card near the signature panel is used to validate online payments. It now changes every hour automatically and randomly thanks to cutting edge technology making it possible to integrate an e-paper screen, an NFC antenna and a mini-battery inside the card. If the card data gets stolen, it becomes useless in the next hour.

OT thereby offers to banks and financial institutions an innovative and fully integrated ready-to-go solution including the card issuance (manufacturing and personalization) and the dynamic security code validation server.

Currently, more than 64.5 million bank cards are in circulation in France.

"More than 90% of online transactions are made using credit cards in France. The dynamic security code will strengthen the security of online transactions. This solution is compliant with all e-commerce sites across the world and provides a transparent customer experience. These are the keys to success. CB group congratulates OT for receiving CB certification, which attests to the conformity of the product with all functional and security requirements of the CB system", said Gilbert Arira, CEO of CB.

"OT is particularly pleased to have received CB certification for MOTION CODE™, thus enabling recognition of a solution that secures online transactions, by an entity recognized in the payment world. MOTION CODE™ is a revolutionary innovation that ensures maximum security for online payments, simplicity and speed-of-deployment while guaranteeing immediate adoption by users. OT is deploying this offer for universal adoption by all users in all markets ", said Eric Duforest, Managing Director of OT's Financial Services Institutions activity.

ABOUT OBERTHUR TECHNOLOGIES
OT is a world leader in embedded digital security that protects you when you connect, authenticate or pay.

OT is strategically positioned in high growth markets and offers embedded security software solutions for “end-point” devices as well as associated remote management solutions to a huge portfolio of international clients, including banks and financial institutions, mobile operators and governments, as well as manufacturers of connected objects and equipment.

OT employs over 6,500 employees worldwide, including almost 700 R&D people. With a global footprint of 4 regional secure manufacturing hubs and 39 secure service centres, OT’s international network serves clients in 169 countries. For more information: www.oberthur.com

For more information: www.oberthur.com/motioncode

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Siemens and Bentley Systems announced today that they have formalized a strategic alliance agreement to drive new business value by accelerating digitalization to advance infrastructure project delivery and asset performance in complementary business areas. Siemens and Bentley Systems will initially invest at least Euro 50 million in developing joint solutions to enlarge their respective offerings for infrastructure and industry to the benefit of the end-customers. This work will uniquely leverage new cloud services for a connected data environment to converge respective digital engineering models from both companies. In addition to those elements of the agreement, approximately Euro 70 million of secondary shares of Bentley’s common stock have been acquired by Siemens, under a company program that will continue until such time as Bentley Systems’ stock is publicly traded.

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Siemens and Bentley Systems have a track record of complementing their respective portfolios through the licensing of each other’s technology to provide solutions in the Digital Factory and Process Industries & Drives divisions, where respective software offerings have already been integrated. For example, Bentley’s reality modeling software has been integrated into Siemens Process Simulate to leverage laser-scanned point clouds in modeling the existing context of brownfield industrial environments. The automotive industry manufacturer Turnkey Manufacturing Systems (TMS) successfully employed the innovative point cloud capabilities to create a “digital twin” of their production line to significantly enhance their planning and validation processes, while saving time and costs.

The new investment initiatives will involve virtually all Siemens divisions. The major benefit will be accumulating intelligence from Siemens solutions throughout Bentley’s complementary applications for design modeling, analytical modeling, construction modeling and asset performance modeling. As a result, the integrated and accessible digital engineering models, such as the “digital twin” viewed through an immersive 3D interface, will enable unprecedented operational performance, visibility and reliability. This work will uniquely converge digital engineering models: physical engineering models in their 3D physical reality context by way of Bentley’s software solutions and the corresponding functional engineering 2D models within Siemens’ solutions.

Siemens and Bentley Systems have identified opportunities to work together in Energy Management, Power Generation, Building Technology and Mobility where each company can leverage their respective technology and industry expertise to bring new business value to the market. For example, Bentley’s applications for the 3D modeling and structural analysis of industrial and infrastructure assets complement Siemens’ solutions and unparalleled domain expertise in electrification and automation. Siemens and Bentley Systems will each provide software from the other to deliver complete solutions from either company to the benefit of their respective customers in order to improve their project and asset performance through simulation and virtual commissioning. Development work will benefit from and extend Siemens’ and Bentley Systems’ established commitments to openness and interoperability.

Klaus Helmrich, member of the Managing Board of Siemens AG, said, “This move further extends our industry software ecosystem from 2D to 3D software solutions, taking the simulation portfolio in our Digital Enterprise offering to a new dimension. We’re rigorously executing our ‘digital twin’ vision from virtual planning to the real product to the benefit of our customers who themselves are driving digitalization across their value chains. Bentley Systems’ independence, track record in interoperability and leadership in engineering- and design-software make them our ideal partner for this undertaking.”

Bentley Systems CEO Greg Bentley said, “Only with Siemens could we so purposefully advance beyond merely linking the ‘Industrial Internet of Things’ to ultimately leverage digital engineering models for visual operations and connected infrastructure asset performance. Given our long history of sharing complementary technologies, we are very excited to now contribute so broadly to Siemens’ industrial digitalization leadership.”

Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 165 years. The company is active in more than 200 countries, focusing on the areas of electrification, automation and digitalization. One of the world’s largest producers of energy-efficient, resource-saving technologies, Siemens is No. 1 in offshore wind turbine construction, a leading supplier of gas and steam turbines for power generation, a major provider of power transmission solutions and a pioneer in infrastructure solutions as well as automation, drive and software solutions for industry. The company is also a leading provider of medical imaging equipment – such as computed tomography and magnetic resonance imaging systems – and a leader in laboratory diagnostics as well as clinical IT. In fiscal 2015, which ended on September 30, 2015, Siemens generated revenue of €75.6 billion and net income of €7.4 billion. At the end of September 2015, the company had around 348,000 employees worldwide. Further information is available on the Internet at www.siemens.com.

Bentley Systems is a global leader in providing architects, engineers, geospatial professionals, constructors, and owner-operators with comprehensive software solutions for advancing the design, construction, and operations of infrastructure. Bentley users leverage information mobility across disciplines and throughout the infrastructure lifecycle to deliver better-performing projects and assets. Bentley solutions encompass MicroStation applications for information modeling, ProjectWise collaboration services to deliver integrated projects, and AssetWise operations services to achieve intelligent infrastructure – complemented by worldwide professional services and comprehensive managed services. Founded in 1984, Bentley has more than 3,000 colleagues in over 50 countries, more than $600 million in annual revenues, and since 2009 has invested more than $1 billion in research, development, and acquisitions. Additional information about Bentley is available at www.bentley.com.

This press release and further information is available at www.siemens.com/press/PR2016110064COEN

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1. An affordable way to shop: The EMI card entails a joining fee of Rs. 399 and a renewal fee of Rs. 99. However, the renewal fee applies only if the cardholder does not avail any loans in the past 12 months. If you do avail a loan during the period, no renewal fee becomes due. Unlike other loans, EMI card transactions are free of interest.
    
2. Easy application process: Interested customers may apply for the card in two ways:
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7. Zero foreclosure charges: Most loans have penalties on early payment. But that is not the case for the EMI card. The card encourages pre-payments. There is no limit on the prepayment amount and customers can make up to six prepayments free of charge in a year.
    
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Today, Citi announced the launch of a new global API Developer Hub (developer.citi.com) to rapidly connect with developers and enable them to build innovative client solutions faster than ever before. The global developer platform is one of the most comprehensive to date in the financial services industry.

The release of Citi APIs marks the evolution of Citi’s technology to open architecture, which will facilitate collaboration and partnerships with FinTech companies and consumer brands across the globe to benefit customers. Through the global API Developer Hub, Citi will grant developers access to APIs across eight usage categories, including account management, peer to peer payments, money transfer to institutions, Citi rewards, investment purchases and account authorization. Additional categories will be added over time.

“Citi’s Global Developer Hub advances our open-innovation approach to delivering cutting edge solutions and enabling new streams of value for clients, partners and developers,” said Stephen Bird, CEO, Global Consumer Banking at Citi. “The rapid pace of technological change demands transformation from the inside out and the outside in. By creating a collaborative ecosystem of leading brands and developers, we will be able to offer a complete suite of products, services and experiences to meet our clients’ financial needs today and in the future.”

Sopnendu Mohanty, Chief FinTech Officer of the Monetary Authority of Singapore, said, “We are delighted that Citi Singapore is playing a leading role in developing and launching this global API initiative during the Singapore FinTech Festival which is held from 14-18 November 2016. This will encourage open collaborations with the FinTech community and potentially deliver better financial services for customers, as well as re-affirm Citi’s thought leadership in shaping the future of financial services.”

Citi has already teamed up with several leading companies, including Mastercard, Virgin Money and Wonder, that are leveraging Citi API’s to develop innovative customer solutions. Earlier this year in the U.S., Citi’s Pay with Points API started providing Citi ThankYou® Rewards members with an eligible Citi credit card the option to use points to cover all or part of their purchases with a statement credit when using their card to make purchases on BestBuy.com and in the Wonder App. In October, 1800Flowers.com was added as ThankYou Rewards’ latest Pay with Points participant.

"The Virgin Money and Citi partnership continues to go from strength to strength,” said Greg Boyle, CEO, Virgin Australia. “A key priority is the delivery of a new dedicated Virgin Money mobile app which will leverage Citi's APIs for credit card functionality to deliver a fantastic experience for our customers. Citi's support via their APIs is critical to ensuring we meet the digital needs of our customers today and will allow ongoing innovation into the future."

In Singapore, Citi has partnered with honestbee, one of Asia’s fastest growing online concierge and delivery services, to allow their customers to apply for a Citi Cash Back card on honestbee’s website and mobile app. Launching in December, this integrated experience for customers is made possible using Citi’s API technology, allowing a seamless card application process via Citi’s merchant partners’ sites.

The Global Developer Hub, developed by Citi FinTech and Citi teams across Asia, North America and Mexico, is the latest in a series of Citi innovations, from pioneering the ATM to introducing the first banking app for Apple Watch. In 2014, Citi launched a global hackathon and accelerator called the Citi Mobile Challenge which traveled to Latin America, the U.S., Europe, the Middle East, Africa and Asia Pacific, with participation from thousands of developers across more than 100 countries. In 2015, Citi FinTech was created as a new unit within Citi’s Global Consumer Bank, charged with accelerating speed to market with next generation mobile banking capabilities.

The global API Developer Hub launched today. Developers are invited to register their interest at developer.citi.com where they will be given tools to connect in a development sandbox, enabling them to test their ideas.

About Citi

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi.

View source version on businesswire.com: http://www.businesswire.com/news/home/20161110006321/en/

Point72 Asset Management moved into a new office space in Singapore’s OUE Bayfront in Marina Bay on Monday. The 8,880 square foot space can seat up to 60 employees, doubling the capacity of the Firm’s previous Singapore office.

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Point72 Doubles Office Space in Singapore's OUE Bayfront; Affirms Commitment to Hiring Region's Top Talent (Photo: Business Wire)

Marc Desmidt, Chief Executive Officer of Point72’s international business, said, “We are making a push to find, attract, and retain the industry’s brightest talent around the world, and we see Singapore as an important source of that talent.”

Point72 opened its current Singapore office in 2009 with six employees. Today, it has 27 employees in Singapore, including nine who joined in 2016. The Firm has been in Asia since establishing its Hong Kong office in 2006.

Chris Coward, Head of Risk for Point72’s international business and the Head of the Singapore office said, “We are excited to be able to move into a space that can accommodate our growth in the region. We are committed to grow our presence in Singapore starting with the high-caliber talent we know are here.”

The layout and design of the new office will facilitate collaboration among employees in the Singapore office and between other offices at the Firm, with conference rooms, upgraded video conferencing capabilities, informal team gathering spaces, an open pantry and seating area, and a wellness room.

“We care deeply about the health and wellbeing of our employees, and that starts with ensuring they have the best-in-class equipment and facilities they need to do their jobs every day,” added Desmidt. “A strong culture begins with a premier workplace.”

Point72 has more than 1,000 employees worldwide including more than 140 people in the Asia-Pacific region.

About Point72 Asset Management:

Point72 Asset Management is a family office managing the assets of its founder, Steven A. Cohen, and eligible employees. Point72 primarily invests in discretionary long/short equities and makes significant quantitative and macro investments. The Firm’s long/short investment divisions are Point72 Asset Management and EverPoint Asset Management. Cubist Systematic Strategies is its quantitative business. The Firm is headquartered in Stamford, Connecticut, and maintains offices in New York, London, Hong Kong, Tokyo, and Singapore. Point72 Asset Management, L.P. is a family office and does not seek, solicit or accept any external investments. www.Point72.com

View source version on businesswire.com: http://www.businesswire.com/news/home/20161114006698/en/

• Hassle-free renewals by ensuring that the policy can be renewed after 2 or 3 years
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Nexif Energy, a Southeast Asian independent power producer, announced today that it has entered into an agreement to subscribe additional equity in Viet Hydro Pte Ltd. The proceeds will be used by Viet Hydro to further consolidate its holdings in the Coc San project.

“Nexif Energy is pleased to increase its commitment to the Coc San project, which recently completed construction and commenced operation,” said Surender Singh, Founder and Co-Chief Executive Officer of Nexif Energy. “We also look forward to making more investments in Vietnam’s power sector.”

Coc San is a run-of-the-river 30 megawatt hydro power project located in the Dum River Valley, a tributary of the Hong (Red) River. It is approximately 300 kilometres northwest of Hanoi in the Lao Cai province.

“The Coc San project is regarded as a model hydro project for environmental and social compliance by multilateral organizations, local government and communities, and Viet Hydro is thankful for the cooperation extended by the government, employees and contractors that resulted in the successful implementation of the project,” said Srinivas Rao, Chairman of Viet Hydro and Executive Vice President, Projects and Operation of Nexif Energy.

Nexif Energy will subscribe to additional shares in Viet Hydro. Viet Hydro will use the proceeds to acquire the remaining holdings in the project of Colben Energy Holdings (Vietnam) Limited, and HVD Construction and Investment Consultant JSC, which will increase Viet Hydro’s shareholding in the project to 92 percent. InfraCo Asia Development Pte Ltd will retain its minority interest in Viet Hydro.

“Vietnam is a key target market for Nexif Energy. Further investment into Coc San is a testament of our commitment to the country. We aim to become a leading independent power generation company in Vietnam and are currently evaluating a number of additional promising investment opportunities there,” added Enamul Latifi, EVP of Business Development, Nexif Energy.

About Nexif Energy

Nexif Energy was formed in August 2015 by Nexif, a Singapore-based independent power management company, and Denham Capital, a leading global energy-focused private equity firm, to develop, finance, construct and opportunistically acquire conventional and renewable power generation assets across Southeast Asia and Australia. The investment in Nexif Energy marks a return to the region for Denham and builds upon Nexif’s strong experience and relationship base. For more information on Nexif Energy, visit www.nexifenergy.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20161120005046/en/

1. Use an international payment gateway for recurring transactions month-on-month. This option is only supported for Indian cards which have International transactions enabled and the fees are exorbitant.
2. Businesses opt for a payment model which has a 6-months payment plan or an annual payment plan for easier collection. This model hinders customers from trying out the service for a shorter duration -  meaning potential loss of customers for SaaS businesses.