Day: October 19, 2022

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Quantexa Has Been Positioned by Chartis as a Category Leader in the KYC Solutions 2022 Market Quadrant Update and Vendor Landscape

Quantexa’s KYC Solution, part of its industry leading Decision Intelligence Platform, recognized for completeness of offering, risk scoring, customer profile enrichment, and customer onboarding

LONDON, Oct. 19, 2022 (GLOBE NEWSWIRE) — Today Quantexa, a global data and analytics software company pioneering Contextual Decision Intelligence (CDI) and helping the world’s leading organizations and government agencies solve some of their toughest data challenges, announced that they have been recognized as a category leader in the just released 2022 Chartis KYC Solutions Market Update and Vendor Landscape report. Quantexa is being recognized as a category leader for completeness of their enterprise solution as well as market potential. The Quantexa KYC Solution was rated “best in class” for KYC risk scoring and customer profile enrichment with additional data and received an advanced ranking for customer onboarding and reporting, and dashboarding.

The Chartis KYC report is focused on the macro themes of cost saving and efficiency. Currently, KYC processes can be manual, error-prone and result in a poor experience throughout the customer lifecycle. Quantexa’s Decision Intelligence Platform transforms the approach to KYC by adding context and clarity from onboarding to exit, dynamically monitoring, and assessing customer risk and opportunity, and shifting away from manual periodic reviews to an automated, proactive process.

The platform connects internal and external data to create a single, enriched, holistic view of a customer and its control, and uncovers hidden connections between customers, counterparties and their behaviors which are often impossible to see in isolation. Along with automation and the use of AI to achieve efficiencies, the solution facilitates a continuous and informed understanding of customers for better, faster decision making throughout the customer acceptance, identification, activity monitoring, and risk management processes.

Quantexa’s positioning in the report is reflective of their customers’ proven results and is proof that adopting a contextual and perpetual approach to KYC reduces the time and costs involved for businesses. It also transforms what has become a tick-the-box exercise, back into the true purpose of understanding the risk and exposure brought on by customer activity. By increasing automation and using decision intelligence, businesses stay ahead of the volume and velocity of data related to KYC policies and processes and can free up their teams, so they have more time to concentrate on high-risk customers and value-add tasks.

Quote: Phillip Mackenzie, Senior Research Specialist, Chartis
“The Chartis RiskTech Quadrant for KYC does not simply describe one technology solution as the best – rather, we use the most sophisticated ranking methodology to explain which solution would be most suitable for buyers, depending on their implementation strategies. Our research finds that Quantexa’s KYC Solution offers businesses the necessary controls to address the risks involved in using AI in their compliance programs.”

Quote: Dan Higgins, Chief Product Officer, Quantexa

“Quantexa is thrilled to be included in the Chartis KYC Market Quadrant Report, positioned very strongly amongst an esteemed list of enterprise solution providers. Traditional ongoing due diligence and periodic refreshes of KYC continue to drive cost and complexity for businesses. The increasing regulatory, budget and customer pressures demand a new way of thinking. Quantexa’s contextual approach reduces the time and cost of KYC by increasing automation, connecting non-obvious relationships, and leveraging decision intelligence for perpetual monitoring of risk. This translates into more accurate risk identification and management, lower costs, and improved customer experience. We are confident that this approach will continue to provide value to our clients and drive overall market growth for Quantexa.”

ABOUT QUANTEXA
Quantexa is a global data and analytics software company pioneering Contextual Decision Intelligence that empowers organizations to make trusted operational decisions by making data meaningful. Using the latest advancements in big data and AI, Quantexa’s platform uncovers hidden risk and new opportunities by providing a contextual, connected view of internal and external data in a single place. It solves major challenges across data management, KYC, customer intelligence, financial crime, risk, fraud, and security, throughout the customer lifecycle.

The Quantexa Decision Intelligence Platform enhances operational performance with over 90% more accuracy and 60 times faster analytical model resolution than traditional approaches. Founded in 2016, Quantexa now has more than 500 employees and thousands of users working with billions of transactions and data points across the world. The company has offices in London, New York, Boston, Washington DC, Brussels, Toronto, Singapore, Melbourne, and Sydney. For more information, contact Quantexa here or follow us on LinkedIn.

ABOUT CHARTIS

Chartis is a research and advisory firm that provides technology and business advice to the global risk management industry. Chartis provides independent market intelligence regarding market dynamics, regulatory trends, technology trends, best practices, competitive landscapes, market sizes, expenditure priorities, and mergers and acquisitions. Chartis’ RiskTech Quadrant reports are written by experienced analysts with hands-on experience of selecting, developing and implementing risk management systems for a variety of international companies in a range of industries, including banking, insurance, capital markets, energy and the public sector.

A PDF accompanying this announcement is available at:

http://ml-eu.globenewswire.com/Resource/Download/0b256614-6827-4dd7-b1fe-d9c1df5bb360

Media Inquiries:

C: Laurel Case, VP, Fight or Flight
T: +1 315 663 6780
E: Quantexa@fightflight.co.uk

C: Adam Jaffe, SVP of Corporate Marketing
T: +1 609 502 6889
E: adamjaffe@quantexa.com
– or –
RapidResponse@quantexa.com
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IP Technology Labs Awarded Patent Providing Controllerless Load-Balancing for Reliable, Resilient, & Secure Connectivity

The invention provides for a controllerless, stateless, and scaleable implementation to efficiently distribute network traffic to one or more server resource pools. By placing the connection intelligence at the endpoint, the application can make the best network connection decision continuously without the performance or security limitations of traditional load balancers.

BALTIMORE, Oct. 19, 2022 (GLOBE NEWSWIRE) — IP Technology Labs®, the American manufacturer of secure endpoint IT/OT connectivity and reliable remote access solutions, today announced that the United States Patent and Trademark Office issued US Patent #11,477,276 covering network reliability without using a controller or load balancer. The innovative technology allows the deployment of scaleable and redundant networks without the cost, complexities, or limitations of traditional redundant networking options.

“Reliable & resilient connectivity is a network imperative and a cybersecurity issue,” said Scott Whittle, President of IP Technology Labs. “Devices and applications expect to connect resources anytime, anywhere, and over any infrastructure. Putting intelligence at the endpoint, where it belongs, IpTL can distribute network traffic to any resource without using load-balancers or controllers. Now, critical infrastructure can communicate securely to a scaleable and distributed infrastructure while lowering costs, increasing performance, and assuring security end-to-end.”

Traditional load balancers operate ahead of network resources and thus are a performance and security vulnerability point. Additionally, algorithms used to distribute traffic are limited and focus only on the server. Unlike other scaleability and pooling solutions today, the invention puts intelligence in the endpoint and enables the remote application or device to make the best decision on what resources to connect to.

The patent covers techniques for scalable automated and stateless network connections without using a controller. By distributing network resource information, including resource selection metadata such as uptime, load, and security preference, any remote device or application can pick the best resource to connect to.

Contact info@IpTechLabs.com for additional information.

About IP Technology Labs LLC. (https://IpTechLabs.com)

IP Technology Labs, LLC. is an American designer and manufacturer of cybersecurity and remote access networking appliances headquartered in Baltimore, Maryland, USA. We develop and market endpoint security solutions for fixed-application devices that eliminate network threats from spoofing, snooping, and backdoors and increase reliability and cost savings for remote access connectivity. Our patented technologies enable IoT, OT, and IT end-to-end networking with cybersecurity for easy, seamless, stable, and secure operation on any network.

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AAR expands partnership with flydubai, signing multi-year Boeing 737 MAX flight-hour component support contract

Wood Dale, Illinois, Oct. 19, 2022 (GLOBE NEWSWIRE) — AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, has signed a new multi-year flight-hour component support contract, expanding its relationship with flydubai to include additional aircraft in flydubai’s rapidly growing Boeing 737 MAX fleet.

AAR will grow its onsite team and work alongside flydubai to ensure real-time decision making and seamless interaction throughout the duration of this contract. The inventory for this program will be located in Dubai, in alignment with AAR’s “close to the customer” support philosophy.

Commenting on the announcement, Mick Hills, flydubai’s Chief Operations Officer, said, “AAR’s continued support over the last five years has enabled flydubai to maintain the optimum levels of efficiency and quick turnarounds when it comes to our fleet maintenance. The experience and reliability this partnership adds to our operations will continue to be collaborative, especially as we bring more of our MRO capabilities in house. We look forward to expanding our partnership with AAR as we grow our fleet over the next few years.”

flydubai operates a single fleet-type of 68 Boeing 737 aircraft that includes 32 Next-Generation Boeing 737-800, 33 Boeing 737 MAX 8, and 3 Boeing 737 MAX 9 aircraft. The carrier is expected to take delivery of 11 737 MAX aircraft by the end of the year as it continues to retire more of its 737 Next-Generations.

“It is a privilege to use our expertise and inventory to improve component support reliability and efficiency for flydubai,” said Colin Craig, AAR’s Vice President, Business Development, Integrated Solutions. “flydubai’s decision to place further trust in AAR’s ability to provide excellent operational support speaks to the success of embedding our services with customers.”

AAR began supporting flydubai’s flagship fleet of Boeing 737 MAX in 2017 and signed a contract extension for flydubai’s Boeing 737 Next Generation fleet in 2021.

For more information on commercial solutions and flight-hour support, visit the AAR website.

About AAR
AAR is a global aerospace and defense aftermarket solutions company with operations in over 20 countries. Headquartered in the Chicago area, AAR supports commercial and government customers through two operating segments: Aviation Services and Expeditionary Services. AAR’s Aviation Services include Parts Supply; OEM Solutions; Integrated Solutions; and Maintenance, Repair, and Overhaul (MRO) Services. AAR’s Expeditionary Services include Mobility Systems operations. Additional information can be found at aarcorp.com.

About flydubai
From its home in Dubai, flydubai has created a network of more than 95 destinations served by a fleet of 68 aircraft. Since commencing operations in June 2009, flydubai has been committed to removing barriers to travel, creating free flows of trade and tourism and enhancing connectivity between different cultures across its ever-expanding network.

flydubai has marked its journey with a number of milestones:

An expanding network: Created a network of more than 95 destinations in 50 countries across Africa, Central Asia, the Caucasus, Central and South-East Europe, the GCC and the Middle East, and the Indian Subcontinent.

Serving underserved markets: Opened more than 70 new routes that did not previously have direct air links to Dubai or were not served by a UAE national carrier from Dubai.

An efficient single fleet-type: Operates a single fleet-type of 68 Boeing 737 aircraft and includes: 32 Next-Generation Boeing 737-800, 33 Boeing 737 MAX 8 and 3 Boeing 737 MAX 9 aircraft.

Enhancing connectivity: Carried more than 80 million passengers since it began operations in 2009.

For all our latest news, please visit the flydubai Newsroom.

This press release contains certain statements relating to future results, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995 which reflect management’s expectations about future conditions, including the ability to continue to build on AAR’s successful relationships with commercial airlines outside of the USA. Forward-looking statements may also be identified because they contain words such as ‘‘anticipate,’’ ‘‘believe,’’ ‘‘continue,’’ ‘‘could,’’ ‘‘estimate,’’ ‘‘expect,’’ ‘‘intend,’’ ‘‘likely,’’ ‘‘may,’’ ‘‘might,’’ ‘‘plan,’’ ‘‘potential,’’ ‘‘predict,’’ ‘‘project,’’ ‘‘seek,’’ ‘‘should,’’ ‘‘target,’’ ‘‘will,’’ ‘‘would,’’ or similar expressions and the negatives of those terms. These forward-looking statements are based on beliefs of Company management, as well as assumptions and estimates based on information currently available to the Company, and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated. For a discussion of these and other risks and uncertainties, refer to “Risk Factors” in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Should one or more of these risks or uncertainties materialize adversely, or should underlying assumptions or estimates prove incorrect, actual results may vary materially from those described. These events and uncertainties are difficult or impossible to predict accurately and many are beyond the Company’s control. The Company assumes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Attachment

Media Team
AAR CORP.
+1-630-227-5100
editor@aarcorp.com
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CM Ch Parvez Elahi inaugurates first Punjab Dementia Plan 

Lahore, October 19, 2022 (PPI-OT):Chief Minister Punjab Chaudhry Parvez Elahi launched the first Punjab dementia plan at a function held at his office where Health Minister Dr Yasmin Rashid presented the Punjab dementia plan book to him.

The CM noted that international data about this disease is alarming. Dementia disease is also spreading in the country but elderly persons could not feel it. With increasing age, memory goes away due to dementia. Society should fulfill the responsibility to treat elderly people suffering from this disease and Punjab is the first province where a dementia plan has been introduced with the support of WHO, he said. He said that, currently, there are about four lakh dementia patients in Pakistan and the number is increasing day by day.

The worrying thing is that 90% of dementia patients are not diagnosed, he added. A dementia patient becomes a liability, not only for the family but also for society. The Punjab government has become a part of this plan and it’s an example for other provinces to follow; the CM maintained and added that dementia has not only become a global issue but it is also a concern for us at the national level. Parvez Elahi observed that adequate measures are needed to treat dementia so that the patient and his family could be supported, he said. Health Minister Dr Yasmin Rashid, President of Alzheimer Pakistan Zia H. Rizvi, secretary general Dr Hussain Jafri and others were also present.

While talking to the media afterwards, the CM said that people would be fully sensitized about dementia. Unfortunately, the N-League government has also suffered from dementia disease. Punjab would also treat them and give them medicine for free. I told the federal government six times that Punjab does not have wheat. The federal government gave wheat to Sindh and other provinces but neither gave wheat to Punjab nor allowed it to import, he regretted.

The dementia-affected federal government forgets every time and Shehbaz Sharif is committing enmity with the people of Punjab, he stated. If the federal government permits us, we will import wheat ourselves, the CM added. The federal government has to pay the dues of 170 billion rupees to the Punjab government; he mentioned and added that this amount is the right of the people of Punjab and the province. The government of Shehbaz Sharif has withheld this amount. Punjab is Imran Khan’s own province. We support Imran Khan’s long march.

Shehbaz Sharif is taking revenge from Punjab because Imran Khan and our government are here, added Parvez Elahi. The federal government is responsible for this situation. It is the fault of Shehbaz Sharif’s government to create this situation. If the federal government had delivered and solved the problems of the people, this situation would not have happened, he stressed. The federal government could also be treated and they would be given medicine for free, he added. On the issue of wheat, the provincial government would approach the Supreme Court, he said.

N-League and PDM are unnerved because they are unable to handle themselves. They dream of ruling Punjab but cannot manage themselves. The N-League government is responsible for the bad economic conditions, he said. We want to hold local bodies elections in the province. The local government bill will be passed in the assembly today. We have already passed the local government bill in the assembly but the N-League’s Governor did not sign it. The end of the PDM alliance is dangerous and the next month is very important. Imran Khan is talking about the general elections very calmly and respectfully but the opponents do not deserve any respect or honour, he concluded.

For more information, contact:
Mediacell, Pakistan Muslim League
30-C, Chaudhry Zahoor Elahi Road,
Gulberg-II, Lahore, Pakistan
Tel: +92-42-35878428
Fax: +92-42-35877329
Website: www.pmlmediacell.com

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CM Chaudhry Parvez Elahi attends the 2nd convocation of College of Ophthalmology and Allied Vision Sciences KEMU 

Lahore, October 19, 2022 (PPI-OT):Chief Minister Punjab Chaudhry Parvez Elahi participated in the 2nd convocation of the College of Ophthalmology and Allied Vision Sciences of Kind Edward Medical University. CM distributed degrees among the successful doctors. CM while addressing the convocation of the College of Ophthalmology and Allied Vision Sciences said that we have announced to lift the ban from the induction of grade 17 posts of optometrists in the rural health centres (RHC) and from other posts affiliated with the allied vision. Parvez Elahi revealed that we are also granting permission for induction on all the posts subsequently being required by the Health Department.

He assured that we would provide all the possible resources for the students of the College of Ophthalmology and Allied Vision Sciences adding that the problems of the students will be resolved and their demands will be fulfilled subsequently. He welcomed the arrival of students from all the provinces adding that the doctors after completing their education will serve the people in their provinces. The department of politician is difficult adding that the knowledge which you learn carries its light. He underscored that the light of knowledge should be disseminated and the learning process for the students should continue forever.

He lauded Prof. Mumtaz and Dr. Asad Aslam for rendering valuable services for the students. He stated that seats were used to be allocated for the female students in the decade of 80s adding that it seems that seats for the female students will have to be allocated in the medical college. The students come across a new lesson in their practical field every day and the process of learning should continue. He said that one learns while remaining in the government adding that it is not less than a test to become a ruler of a big province.

He revealed that he had established public welfare institutions on the basis of personal experiences. Allah Almighty always gives the reward of doing public service. He stressed that the patients should be greatly looked after in the hospitals. The founder of the college Principal Prof. Asad Aslam Khan proposed me to set up an institute of ophthalmology 18 years earlier adding that he had then granted the permission to established an institute of ophthalmology. We planted this sapling in 2004 and today it is providing shade like a big strong tree.

He denounced that Rescue 1122, surgical tower and his many other projects were closed down by his successors. He disclosed that we are providing free medicines to the patients in the emergency and will give three times salary to the doctors performing their duties in the emergency. CM prayed that the students after completing their education from the College of Ophthalmology will nicely serve the humanity. He said that he always urges the students to make their targets and thinking always high in their professional careers.

CM prayed for the forgiveness of the former Vice Chancellor KEMU Prof. Dr. Mumtaz. CM distributed gold medals among the 1st position holder Marina Aslam, 2nd position holder Nimra Asif and 3rd position holder Laiba Usman. CM distributed shields among the VC Mahmood Ayaz, Registrar Dr. Riasat, Principal Zahid Kamal and Dr. Asad Aslam. CM was also presented the college history book. Dr. Yasmeen Rashid thanked the CM in her address. VC Prof Mahmood Ayaz and Principal Zahid Kamal also addressed the gathering. CM put his signatures on the scroll registered of the college as a tradition.

For more information, contact:
Mediacell, Pakistan Muslim League
30-C, Chaudhry Zahoor Elahi Road,
Gulberg-II, Lahore, Pakistan
Tel: +92-42-35878428
Fax: +92-42-35877329
Website: www.pmlmediacell.com

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CM Ch Parvez Elahi chairs meeting of Rawalpindi Division parliamentarians

Lahore, October 19, 2022 (PPI-OT):A meeting of MNAs and MPAs of Rawalpindi Division was held under the chair of Chief Minister Punjab Chaudhry Parvez Elahi at his office to discuss suggestions about the resolution of people’s problems and the constituency-related developmental schemes.

Addressing the meeting, the CM said that specific areas would be zoned for housing and green and brown areas. The development projects of Rawalpindi Division should be completed without delay and different roads including that of Adiala and Chakri areas should also be repaired. Similarly, the repair of inter-district link roads and suburban roads of Rawalpindi Division should be completed, he directed. The CM ordered legal action against illegal housing schemes in Rawalpindi Division and an in-principle decision was taken to prepare the master plan of Rawalpindi.

The CM ordered that the recruitment process should be started soon to functionalise Rawalpindi Urology Institute and wardens be deputed to resolve traffic problems. Alongside this, he added that Rescue 1122 centres should be established on main roads and in remote areas to facilitate the needy.

Similarly, hospitals and educational projects should be completed on a priority basis; he stressed and asked the deputy commissioners to visit the hospitals and monitor the supply of free medicines. The vacant teachers’ posts should be filled under the school-based policy, he added. Besides the installation of tube wells, construction of the Dadocha Dam should also be started soon to supply water in Rawalpindi and other districts, he said and further directed to ensure the supply of items to the prisoners in the jails at discounted rates.

Provincial Ministers Raja Muhammad Basharat, Yasir Humayun, members of assembly Maj (r) Tahir Sadiq, Ghulam Sarwar Khan, Rashid Shafiq, Sadaqat Ali Abbasi, Sardar Zulfiqar Ali, Deputy Speaker Wasiq Qayyum, Yawar Abbas Bukhari, Malik Anwar, Malik Jamshed Altaf, Latasab Sati, Javed Kausar, Sajid Mehmood, Chaudhry Adnan, Umar Tanvir, Raja Rashid Hafeez, Ejaz Khan, Sardar Aftab Akbar, Raja Yawar Kamal, Zafar Iqbal, commissioner Rawalpindi, RPO, DCs and DPOs attended the meeting.

For more information, contact:
Mediacell, Pakistan Muslim League
30-C, Chaudhry Zahoor Elahi Road,
Gulberg-II, Lahore, Pakistan
Tel: +92-42-35878428
Fax: +92-42-35877329
Website: www.pmlmediacell.com