Latest news with #TCF
Scoop
7 days ago
- Business
- Scoop
Telecommunications Industry To Review Scam Prevention Code With Consumer Focus
The New Zealand Telecommunications Forum (TCF) today announces it will commence with a review of its Scam Prevention Code. Since its inception, the Code has played a key role in improving the sector's response to preventing scams and anti-scam sector collaboration. The purpose of the Code is: To reduce the volume of scam calls and scam SMS, stopping them as close as possible to the source. Coordinate sharing of scam call and scam SMS information within the sector and with other third parties. Minimise the risk of harm to New Zealand consumers from scams. Define how retail providers, network operators and A2P SMS partners identify and communicate scam calls and SMS with each other. To educate consumers on scam awareness and protections. The Code ensures telecommunications providers have in place mechanisms to detect, verify, block, and report suspected scam activity. Alongside the telecommunications providers signatories there are currently nine non-telecommunications organisations who have signed a memorandum of understanding to the Scam Prevention Code, including most of the major New Zealand banks and key government agencies. This agreement enables non-telecommunications organisations to submit scam SMS and call notifications to telecommunications providers for investigation who can then take action to block messages that may harm New Zealand consumers. As scam tactics evolve and consumer harm persists, the TCF has committed to reviewing the Code to ensure it is still fit for purpose and incorporates the new anti-scam initiatives that telecommunications providers are implementing today. 'The Scam Prevention Code has helped create a robust framework for industry-wide cooperation. But scams are becoming more sophisticated, and the impacts on everyday New Zealanders are increasing,' says Paul Brislen, Chief Executive of the TCF. 'This review will ensure we maintain a high standard of technical response, while also strengthening the Code's accessibility and relevance to consumers.' The review will focus on incorporating feedback from the Ministerial roundtable that has been set up to coordinate activity between industry, law enforcement and government. The TCF plans to also review consumer education and reporting mechanisms to better support public awareness and response to scams. Hon Scott Simpson, Minister of Commerce and Consumer Affairs and the Government's lead anti-scam Minister, says: 'Combatting scams is a joint effort, requiring strong collaboration between all the players in the 'scam ecosystem'. It's essential that New Zealanders feel safe and confident when using telecommunications services, and I welcome the Telecommunications Forum's proactive steps to align industry action with the needs and expectations of consumers.' The revised Code will be developed with a view to engaging more closely with digital platforms – a key partner in the fight against scams. 'Enhanced cross-sector coordination is essential to counter the increasingly complex scam landscape. By sharing insights, intelligence, and best practices across sectors, the TCF aims to build a more unified national response that better protects New Zealand consumers from harm,' says Paul Brislen.
Yahoo
13-06-2025
- Business
- Yahoo
‘Core banking is about to become really cool': Rangachari
The financial industry is at a turning point. Emerging technologies, evolving regulations, and shifting customer expectations demand bold leadership. That was a key takeaway of Temenos' TCF25 in Madrid. Banking has witnessed many a turning point in the past 30 years or so. The 1990s witnessed mass liberalisation of banking regulation. Then there was the abolition of interest rate controls and of barriers to the entry of foreign banks. The rise of non-bank competitors and a reduction in state ownership and in politically directed loans, often at concessionary rates, followed. The period following the financial crisis of 2007-2009 was another turning point. The digital drive including the mass adoption of mobile banking was another such turning point. And now the rise of emerging technologies such as AI, evolving regulations, and shifting customer expectations represents another genuinely transformative turning point. There are few, if any, more impressive and significant vendor-run annual banking conferences than Temenos' celebrated Community Forum. The latest event attracted over 1,400 C-level executives, decision-makers, and industry pioneers and it remains an annual highlight of the conference circuit. Not for the first time, in the 20 years or so of regular attendance, one was left with the impression that TCF was bigger and better than ever before. One highlight was a discussion with Sai Rangachari, Temenos' Chief Product Officer. His appointment, back in January, was a high-profile hire as he leads the development of Temenos' solutions and defines the company's overall product strategy. It was also a headline-grabbing appointment given his track record. His CV includes over 20 years of experience and an in-depth knowledge of the US financial landscape from start-ups to leadership roles in Tier 1 US banks and leading vendors. As Managing Director at JPMorgan, he led the bank's digital channels platform and open banking strategy. At FIS, as Chief Product Officer for Banking and Payments, he spearheaded cloud banking initiatives and growth in the payments business. During his time at Capital One, he launched next-generation digital origination and servicing platforms increasing origination volumes and customer engagement. Most recently, he founded and led the product and technology function at Tandym, a digital payment wallet provider. Rangachari has enjoyed a ring side seat during past industry turning points. He argues that AI and emerging technologies go far beyond the ability to offer increased efficiency and cost savings, new revenue opportunities, improved risk management, greater personalisation and increased customer engagement. 'This is a paradigm and a mindset shift. In the past, banks have always talked about efficiencies, and what we're hearing from our clients this time is different. Previously, it was all about say, how can I go from 10 steps in loan origination to seven steps so I can cut off two hours of processing or two days. Take it from seven days to maybe, one day or two days. Now the conversation really is about, how do I eliminate those steps so I can have more real time functionality? So even from an efficiency perspective, the vision and the asks and the conversations have gotten way bolder than before in terms of what they want as outcomes. 'With the power of AI and what it is able to enable, I think we're just scratching the surface, but it's getting started. The other thing that's really happened and we saw this with mobile is that people are using AI to advance their daily productivity, their non-professional life productivity. So, when they come into work, the expectations are changing quite a bit. The mindset is already baking in that I can eliminate these steps. I can automate, I can become a superhuman.' AI's potential to be truly transformative was highlighted in a number of key sessions during TCF25, such as the presentation from Srinivasan Seshadri of HCLTech. It does rather boost Temenos' credentials as sector leaders when it can draw on high profile and longstanding tier one clients. For example, Santander's Jose Manuel de la Chica, discussed how the bank was working with Temenos to implement AI systematically across banking functions. The head of Canada's EQ Bank, Dan Broten, explained how near-instant insights is giving it a competitive advantage thanks to innovating with Temenos Data Hub. And Marnix Tummers, IT Director for Wealth at ABN AMRO highlighted the bank's near-20-year partnership with Temenos and how the bank continued to benefit from the shared focus on innovation, co-design and customer centricity. Other key takeaways included an example of the Temenos design partner programme. Specifically, work with clients Commerce Bank and BIL. The Temenos Product Manager Copilot solution empowers the Gen AI knowhow of Microsoft and helps customer teams move from idea to product faster, with less effort and more confidence. News of the general availability of the advanced screening solution built with AI, real-time evaluation, and robust compliance frameworks, also merits a mention. With Temenos FCM AI Agent, financial institutions can detect, investigate, and prevent sanctions transgressions against global and domestic watchlists using advanced AI to reduce false positives and evaluate screening alerts in real time with augmenting human capabilities. The tool ticks a lot of boxes: it boosts customer satisfaction, reduces compliance risk and cost, increases employee productivity and boosts revenue. Specifically, Temenos says that FCM AI Agent is achieving less than 2% false positives rates against industry average false positive rates for customer screening of 5% to 8%. Super-regional US bank, Regions, completed its core transformation on the Temenos core banking platform in early 2022. At the time, Temenos' contract win from Regions represented a strategic win in such a competitive and key market. TCF25 featured a positive presentation from the top30 US bank as it shared key learnings from its journey replacing its core on Temenos SaaS. Post TCF25, Temenos again ranked the best-selling core banking provider in the IBSi sales league table, for the 20th consecutive year. It also tops the table for categories covering digital, payments, wealth and Islamic banking. So, sales remain healthy. More than that; Rangachari says that core banking is about to become 'really cool.' Core banking as 'cool' is arguably a novel concept but Rangachari makes his pitch with gusto and explains why Temenos is so well positioned to benefit. 'Now there's a cultural mindset aspect to it and as core banking providers, we're in a prime spot to enable a lot of the integrations and innovations. So, I'm really excited about the core banking space. 'The kind of demand we have seen from clients, the amount of chatter that we've seen around co-innovation has been fascinating. We are extremely motivated to co-innovate so we don't build products in silos. We are building solutions that matter for our customers.' Three standout themes dominate TCF25m namely, acceleration in the adoption of AI, continued investment in its core banking product experience and the benefits of co-innovation. Looking ahead, this turning point has some way to go when once considers just one stat from a recent Temenos survey. It highlighted that about 80% of its banking clients are experimenting with AI, but only a third of them have taken it to production. There are, says Rangachari, the early adopters, the wait and watchers and the fast and slow followers. A large number of factors are holding back some of the more cautious banks as they look for more proof in the market, especially from their peers, on what works and what are the lessons before they would do a fast follow, or a slow follow. If Temenos is to deliver on its tagline, namely, Leading Banking Forward, much depends on the success of AI initiatives such as FCM AI Agent. And then then there is Temenos AI Studio. 'We're actually beginning to partner with clients in our Temenos AI studio, where they can start creating this their own use cases, and servicing their own use cases, leveraging the same Explainable AI infrastructure that we use behind the scenes.' He says that in the past, Temenos would have conversations with customers and they would explains what Temenos needed us to build and it would say okay. But now, the vendor can provide its AI Studio so that banks have the ability to develop, customise, deploy and monitor their own models. Temenos can preload it with banking modules that the bank can start from and Temenos will provide training and support that then allow the bank to build those for themselves. Just how the initiatives announced in Madrid pan out will be hot topics for debate at future TCFs. The wise money would be not to bet against Rangachari being able to deliver. Whether core banking will ever pass muster as 'cool' is another matter entirely. "'Core banking is about to become really cool': Rangachari" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
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Business Standard
13-06-2025
- Business
- Business Standard
TVS Capital revamps board to boost focus on India's $10 trn growth path
TVS Capital Funds (TCF) on Thursday announced a restructuring of its board of directors, a move the growth equity firm said underscores its commitment to supporting India's economic expansion towards the $10 trillion milestone. The firm, which positions itself as tailored for the Indian market, said the reshuffle is aimed at strengthening its partnership-driven investment model while enhancing governance and value creation across its portfolio companies. New appointments to bring strategic depth As part of the leadership overhaul, TCF has appointed three seasoned business executives as independent directors. Shyam Srinivasan, former Managing Director and CEO of Federal Bank, joins as Senior Advisor and Operating Partner, bringing deep experience in financial services, institution-building and market leadership. Subhasri Sriram, Managing Director and CEO of Shriram Capital, joins the board with over three decades of experience in financial services and corporate governance. Mithun Sacheti, founder and former Managing Director of CaratLane, adds entrepreneurial insight and expertise in scaling digital consumer businesses. 'The addition of Mithun, Subhasri and Shyam marks an important milestone for TCF,' said Gopal Srinivasan, Chairman and Managing Director of TVS Capital Funds. 'Their diverse expertise and shared commitment to purposeful growth will help us further our mission.' The new leadership structure is designed to sharpen sector expertise and support long-term, founder-led businesses with strategic capital and institutional oversight. Founding members transition from board roles R. Thyagarajan has concluded his formal association with the board after playing a foundational role in TVS Capital Funds' journey. The firm said his guidance was instrumental in anchoring its approach to governance, discipline and stakeholder alignment. He will continue to guide the firm as 'Mentor Emeritus'. Pradeep Kumar and Rajeev Gupta are also moving on from active board responsibilities. The firm acknowledged that their leadership was instrumental in shaping TCF's trajectory and impact.
Scoop
11-06-2025
- Business
- Scoop
Comcom warns 2degrees over satellite marketing
Now it's 2degrees in the LEO promises naughty seat The Commerce Commission has warned 2degrees that its May 2023 'No Giant Wait' advertising campaign may have breached the Fair Trading Act. The advertising claimed the telco would be able to offer customers 'satellite coverage launching this year, not next'. Small print at the bottom of the advertisement says: 'Text coverage for 100% of New Zealand will be available this year with a direct satellite line of sight.' The advertising referred to services 2degrees planned to offer using the Lynk low-Earth orbit satellite network. False, misleading, unsubstantiated A letter published on the Commerce Commission website says it investigated claims made in the advertisement that may be false, misleading or unsubstantiated. For now, the Commission has issued a warning although criminal proceedings remain an option. If that were to happen, the telco could be fined up to $600,000 for each offence. In November 2024, the Commission issued criminal proceedings against One New Zealand for claims it made about satellite services. The Commerce Commission's investigation found the claim was unsubstantiated because 'no testing of Lynk's satellites had been carried out in New Zealand at the time the representations were made'. It points out the qualifying information was in 'extremely small print and not sufficiently prominent or proximate to correct the impression created by the headline representation'. Lynk's slipped launch schedule The letter notes that Lynk's launch schedule had slipped by the time the advertising appeared and that 2degrees understood the unpredictability of satellite programmes. It goes on to point out that by March 2025, almost two years after the marketing campaign, 2degrees still could not offer customers a satellite to mobile service. In April, the Commerce Commission wrote to 2degrees about the matter. @degrees responded saying it accepts the findings. Tait makes bid for Vital Christchurch's Tait International has Vital Ltd in its takeover sights. The company's chair, John McMahon, issued a notice through the NZX of an offer to buy all Vital's shares for 45 cents per share. In a separate media release, Tait says the price is a: '...64% premium to the price of $0.275 per VTL share immediately prior to the trading halt being announced on 26 May 2025'. Tait Communications CEO Yoram Benit says: 'The proposed takeover is a strategic move to expand our market positioning, product offerings and reach in New Zealand.' Vital is the NZX-listed telco formed when TeamTalk and CityLink combined and rebranded in 2019. It was the subject of a failed takeover attempt last year by Empire Technology. That process ended badly with the Takeovers Panel ordering Empire to pay for the failed takeover although the company's owner plans an appeal. Spark also attempted a takeover of the business around eight years ago. TCF code aims to shield vulnerable customers A new code published by the Telecommunications Forum aims to improve protections for customers who rely on fixed-line services for health, safety or disability reasons. The TCF says its Vulnerable Consumer Code is a voluntary industry-led initiative. It '...sets out clear obligations for retail service providers (RSPs) and network operators to ensure that registered consumers—those with verified needs—receive priority support in the provision, maintenance, and repair of essential fixed-line services.' The code covers services delivered over copper, fibre, fixed wireless and hybrid fibre-coaxial. It also covers satellite networks. While Starlink, the most-used satellite service in New Zealand, is not a TCF member, a number of TCF members resell Starlink and other satellite services. While there are already a series of consumer protections in place, in some cases backed by legislation, the TCF's goal is to add consistency. Spark recycles laptops for school digital inclusion Spark is working with Quadrant on a laptop lease programme which will see hundreds of mobile computers donated to school students. The pair say 400 laptops have already been distributed to schools in South Auckland and Wellington. Quadrent has bought more than 3,000 laptops from Spark, which will be resold to fund the purchase of 800 new laptops for school students. Spark corporate relations and sustainability director Leela Ashford says the programme helps reduce electronic waste. At the same time, she makes a connection between the Quadrent Green Lease laptop programme and Skinny Jump. This is Spark's subsidised internet access programme, used by 33,000 homes. Xero debuts small business iPhone payments Xero says it now allows small businesses using Apple iPhones to handle instant contactless payments. The new feature means businesses can accept payments from credit and debit cards, Apple Pay and from digital wallets. Xero customers need an account with the Stripe payment service to use Tap to Pay on iPhone. In other news... Morrison pockets $456m in fees as Infratil makes net loss of $261.3m Chris Keall takes a wider look at recent financial reporting by Infratil, the owner of One NZ. He reveals One NZ's revenue fell from $1.996b to $1.921b, but the company's guidance shows performance is expected to tick up over the current year. Homes gates, security systems affected by 3G shutdown The TDF's Paul Brislen talked about the practicalities of closing the 3G phone network at last week's Tuanz Connecting Aotearoa Summit. At least two other speakers touched on potential problems the shutdown would cause for people in rural New Zealand. At the RNZ site, Susan Edmunds writes about a nasty consumer aspect of the shutdown. Last year a Christchurch woman was sold an automatic gate controlled by 3G. This year she was told it won't work after the 3G network closes later this year. 'Meridian Energy has officially opened New Zealand's first large-scale grid battery storage system at Ruakākā, the first of its kind, and a milestone in the country's renewable energy infrastructure development.' The Download Weekly is supported by Chorus New Zealand. ComCom warns 2degrees over satellite marketing was first posted at Bill Bennett Freelance journalist. Auckland-based Bill Bennett writes technology and business stories that are directly relevant to New Zealand readers. His emphasis is on telecommunications, but he also covers other aspects of technology and business. You can find his features in the New Zealand Herald and hear him regularly on RNZ Nine to Noon and the NZ Tech Podcast. Bennett's The Download Weekly here. If you want to support his work, you can make a donation to his PressPatron account.
Scoop
09-06-2025
- Business
- Scoop
New Zealand Is Saying Goodbye To 3G: Are You Ready For The Change?
Press Release – NZ Telecommunications Forum – TCF Simply text 3G to 550 from any mobile phone to instantly find out if your device is ready for the change, or to receive clear instructions on what to do next. New Zealand's 3G mobile networks will shutdown from the end of 2025 and now is the time for consumers to get ready. While most New Zealanders are already using 4G or 5G-compatible devices and won't need to take any action, anyone with a 3G-reliant phone or device may be affected. This includes tablets, medical alarms, security alarms, business equipment, vehicle trackers and other connected IoT devices. It's crucial to check you can stay connected. To help New Zealanders prepare, we're launching a nationwide consumer awareness campaign, alongside a new, free-text checker tool from our three mobile network operators. Simply text '3G' to 550 from any mobile phone to instantly find out if your device is ready for the change, or to receive clear instructions on what to do next. Telecommunications Forum CEO Paul Brislen is encouraging everyone: 'Don't wait – text '3G' to 550 today and make sure you stay connected after the 3G shutdown.' 'The majority of consumers won't be affected by the shutdown but for those who are it's important they know well in advance and know what to do.' Phones that rely on 3G technology won't connect to any networks after the shutdown, including making a 111 emergency call. 'We want to help New Zealanders stay connected as we move to faster, more reliable networks. The 3G shutdown is a positive step for our digital future, but it's important that anyone with 3G-reliant phones or devices checks now so they can stay connected.' For those who need to upgrade to a 4G compatible device, the TCF urges consumers to recycle their old handsets through RE:MOBILE. 'Mobile phones contain valuable materials that can be reused, as well as components that are harmful to the environment if sent to landfill. By recycling your old phone with RE:MOBILE you're helping protect New Zealand's environment and supporting a more sustainable future. Don't throw your old phone in the bin! Give it a second life and do your part for our planet', says Paul Brislen. Find out more here: Understanding The 3G Shutdown | NZ Telecommunications Forum: About the TCF The NZ Telecommunications Forum (TCF) was established in 2002. It plays a vital role in the telecommunications industry in New Zealand, collaboratively developing key industry standards and codes of practice that underpin the country's digital economy. Our objective is to actively foster cooperation among the telecommunications industry's participants, to enable the efficient provision of regulated and non-regulated telecommunications services. TCF Members include: 2degrees, AWACS, Chorus, Connexa, Devoli, Electric Kiwi, Enable Networks, FortySouth, Kordia, Lightwire, Mercury, Northpower Fibre, NOW, One NZ, Spark, Symbio Networks, Tuatahi First Fibre, Vector Fibre. WISPA-NZ, which represents 28 Wireless Internet Service Providers and Hourua Limited are also Associate Members of TCF.
