2019 Study of Contact Centre Operations in South Africa – Automation & AI Will Affect Job Creation Opportunities

DUBLIN, Dec. 27, 2019 /PRNewswire/ — The “Contact Centre Operations in South Africa 2019″ report has been added to ResearchAndMarkets.com’s offering.

Research and Markets Logo

This report describes the state of the industry, employment numbers and trends and sector-specific developments. There are comprehensive profiles of 42 companies. These include Merchants which, with holding company Dimension Data, bought Canadian Millennium 1 Solutions; Business Connexion, which said it would retrench about 700 employees following a weak financial performance; and Webhelp, which is involved in an initiative to boost BPO skills in South Africa.

Contact Centre Operations

The South African contact centre industry, which is a sub-sector of the business process outsourcing (BPO) industry, contributes approximately R53bn annually to South Africa’s GDP. Through various government incentives and industry initiatives, South Africa is attempting to grow its share of the BPO market to 4% of global revenues by 2030, from around 1% some years ago. The industry employs more than 228,000 consultants or agents, of which 38,600 are focused solely on international business. Contact centres are an important sector for job creation as they are labor-intensive.

Challenges of Automation

South Africa has a booming local contact centre economy and has been able to attract foreign investment due to incentives offered by the Department of Trade and Industry (DTI). In addition to the cost savings, South Africa is attractive as an offshore destination as it has good quality English-speaking talent and government support in areas of skills development and infrastructure incentives. While it is a job creator, automation and artificial intelligence will affect job creation opportunities as some contact centre functions become automated. Chatbot technology is being deployed for relatively simple, mundane tasks, leading to concerns that agents will become obsolete. However, artificial intelligence will increasingly be used to automate routine tasks so that human agents can focus on escalated issues.

Key Topics Covered

1. Introduction

2. Description of the Industry
2.1. Industry Value Chain
2.2. Geographic Position

3. Size of the Industry

4. State of the Industry
4.1. Local
4.1.1. Corporate Actions
4.1.2. Regulations and Government Programmes
4.1.3. Enterprise Development and Social Economic Development
4.2. Continental
4.3. International
4.4. Global Technology Trends Affecting the Contact Centre Industry

5. Influencing Factors
5.1. Economic Environment
5.2. Rising Input Costs
5.3. Technology, Research & Development (R&D) and Innovation
5.4. Government Support
5.5. Labour

6. Competition
6.1. Barriers to Entry

7. SWOT Analysis

8. Outlook

9. Industry Associations

10. References
10.1. Publications
10.2. Websites

Companies Mentioned

  • 1Stream Managed Technology Solutions (Pty) Ltd
  • Accenture Services (Pty) Ltd
  • Aegis Outsourcing South Africa (Pty) Ltd
  • Altron TMT (Pty) Ltd
  • Avirtual Services (Pty) Ltd
  • Blake Connect (Pty) Ltd
  • Business Connexion (Pty) Ltd
  • Care Call Retail and Distribution Services (Pty) Ltd
  • CCI SA (Durban) (Pty) Ltd
  • CCI South Africa (Pty) Ltd
  • Digital Mall (Pty) Ltd
  • Direct Channel Holdings (Pty) Ltd
  • Dreamscheme 76 (Pty) Ltd
  • Durban Technology Hub
  • EC Three (Pty) Ltd
  • Ernst and Young Services (Pty) Ltd
  • EXLservice South Africa (Pty) Ltd
  • FSP Solutions (Pty) Ltd
  • Full Circle Contact Centre Services (Pty) Ltd
  • Gijima Group Ltd
  • i-Talk Call Centre Solutions (Pty) Ltd
  • IBM South Africa (Pty) Ltd
  • iContact (Pty) Ltd
  • Ignition Telecoms Investments (Pty) Ltd
  • Indox (Pty) Ltd
  • Laboria Solutions (Pty) Ltd
  • Mango5 Call Centre (Pty) Ltd
  • Market IQ (Pty) Ltd
  • Merchants SA (Pty) Ltd
  • Mindpearl South Africa (Pty) Ltd
  • MTN Group Ltd
  • Nextec Industrial Technologies (Pty) Ltd
  • O’Keeffe and Swartz Consultants (Pty) Ltd
  • Outworx Contact Centre (Pty) Ltd
  • SA Commercial (Pty) Ltd
  • SoluGrowth (Pty) Ltd
  • State Information Technology Agency SOC Ltd
  • Talksure Trading (Pty) Ltd
  • TP South Africa Trading (Pty) Ltd
  • Webhelp SA Outsourcing (Pty) Ltd
  • WNS Global Services SA (Pty) Ltd
  • Zest Hospitality (Pty) Ltd

For more information about this report visit https://www.researchandmarkets.com/r/571lf4

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com   

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Cision View original content:http://www.prnewswire.com/news-releases/2019-study-of-contact-centre-operations-in-south-africa—automation–ai-will-affect-job-creation-opportunities-300979508.html

SOURCE Research and Markets

Hitachi Completes Acquisition of JR Automation

HOLLAND, Mich., Dec. 27, 2019 /PRNewswire/ — Hitachi, Ltd. (TSE: 6501, “Hitachi”) and JR Automation Technologies, LLC (CEO: Bryan Jones, “JR Automation”) today announced that Hitachi has completed the acquisition of the robotic SI business mainly operated by JR Automation from funds managed by Crestview Partners (“Crestview”). The agreement to acquire JR Automation was announced on April 23, 2019 (EST) and the companies are pleased to have brought this deal to a successful conclusion.

JR Automation and Hitachi have been closely engaged throughout the integration process leading to the closing, working together to ensure a seamless transition for our customers. JR Automation and Hitachi share common values that will strengthen and accelerate the partnership and help quickly pair JR Automation’s global strengths in robotic system integration with Hitachi’s deep skillsets in artificial intelligence and IoT solutions for manufacturing.

“It’s uplifting to see how closely our two companies are aligned and I’m excited about what the opportunities are going forward,” Bryan Jones, CEO of JR Automation said. “As we look to the future, we see the opportunity that exists in bringing the cyber world to the physical world and integrating Hitachi’s digital solutions into the systems that we produce. Our partnership with Hitachi is going to allow us to do considerably more for our customers. However, as excited as we are about our future we also want to be mindful about our past and on behalf of everyone at JR Automation, I would like to thank the team at Crestview and outgoing Chairman Mike DuBose for their outstanding partnership during a period of dramatic global growth and evolution for JR Automation.”

“With JR Automation’s robotic system integration capabilities, combined with Hitachi’s digital solutions and technologies, we can provide customers with new, unparalleled value by connecting the whole process. We can now provide our customers with seamless solutions, connecting the entire value chain with data to achieve total optimization,” said Masakazu Aoki, Executive Vice President and Executive Officer of Hitachi, Ltd.

Jun Abe, Vice President and Executive Officer, CEO of Industry & Distribution Business Unit of Hitachi, Ltd., said, “Customers in the manufacturing and distribution industries are always thinking about how to speed up their businesses in a diversifying and increasingly sophisticated business environment. Through our partnership with JR Automation, we aim to become the best solution partner for industrial customers worldwide.”

About Hitachi, Ltd.
Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, is focusing on Social Innovation Business combining its operational technology, information technology and products. The company’s consolidated revenues for fiscal 2018 (ended March 31, 2019) totaled 9,480.6 billion yen ($85.4 billion), and the company has approximately 296,000 employees worldwide. Hitachi delivers digital solutions utilizing Lumada in five sectors including Mobility, Smart Life, Industry, Energy and IT, to increase our customer’s social, environmental and economic value. For more information on Hitachi, please visit the company’s website at https://www.hitachi.com.

About JR Automation
Established in 1980, JR Automation is a leading provider of intelligent automated manufacturing technology solutions that solve customers’ key operational and productivity challenges. JR Automation serves customers across the globe in a variety of industries, including automotive, life sciences, aerospace, and more. JR Automation employs over 2,000 people at 23 manufacturing facilities in North America, Europe, and Asia. Through thoughtful and dynamic collaboration, JR Automation creates innovative manufacturing solutions, helping customers to Think, Solve, and Create. For more information, please visit www.jrautomation.com.

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/hitachi-completes-acquisition-of-jr-automation-300979541.html

SOURCE JR Automation

A Year Of Growth For Novetta

MCLEAN, Va., Dec. 27, 2019 /PRNewswire/ — Novetta, a leader in advanced analytics technology, closes out 2019 with a 68% YOY increase in contract awards, a geographically expanded employee base, and recognition of our customer focus by achieving CMMI-DEV ML3 and receiving the AWS Public Sector Technology Partner Award for Artificial Intelligence & Machine Learning.

(PRNewsfoto/Novetta)

“We’ve had a tremendous year. We’ve won $724M in contract awards, expanding our customer-focused footprint with new offices in Tampa and San Antonio. We’ve further invested in training, and our employees now hold over 900 technical certifications spanning AWS, Elastic, Azure, and cyber defense,” said Rich Sawchak, Novetta Chief Financial Officer.

Earlier this month, Novetta received the Artificial Intelligence & Machine Learning Public Sector Consulting Partner Award from AWS in recognition of our contributions to customer success. By applying machine learning to areas such as open source data, automated tagging, and edge-based sensor fusion, we are helping our customers solve their most complex analytical challenges. 

In August, Novetta achieved Capability Maturity Model Integration for Development (CMMI-DEV) Maturity Level three (ML3) appraisal rating. CMMI for Development outlines a set of best practices used worldwide to manage and control the product development lifecycle, ensuring an organization’s ability to develop quality products and services that meet the needs of their customers. Read Novetta’s published appraisal results.

“Our continued growth and corporate certifications are a reflection of our employees’ professionalism, integrity, and customer focus. We have driven, innovative talent working on the toughest challenges in the Defense and Intelligence sector. We are now over 1,000 employees worldwide, of whom nearly 40% are veterans,” said Tiffanny Gates, Novetta President and CEO. “2019 was a great year, and we are optimistic that 2020 will be even better.”

About Novetta

Novetta specializes in advanced analytics solutions that extract clarity from complex data, delivering actionable intelligence at speed and scale to address challenges of national and global significance. Focused on mission success, Novetta has pioneered disruptive technologies in data analytics, full-spectrum cyber, media analytics, and multi-INT fusion for Defense, Intelligence Community, and Federal Law Enforcement customers. Novetta is headquartered in McLean, VA with over 1,000 employees across the U.S.

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/a-year-of-growth-for-novetta-300979491.html

SOURCE Novetta

China Finance Online Reports Third Quarter and First Nine Months of 2019 Unaudited Financial Results

BEIJING, Dec. 26, 2019 /PRNewswire/ — China Finance Online Co. Limited (“China Finance Online,” or the “Company,” “we,” “us” or “our”) (NASDAQ GS: JRJC), a leading web-based financial services company that provides Chinese retail investors with fintech-powered online access to securities trading services, wealth management products, securities investment advisory services, as well as financial database and analytics services to institutional customers, today announced its unaudited financial results for the third quarter and first nine months ended September 30, 2019.

Third Quarter 2019 Financial Highlights

  • Net revenues were $8.1 million.
  • Revenues from advertising grew 41.4% year-over-year.
  • Gross margin was 62.3%.
  • Net loss attributable to China Finance Online was $2.1 million, compared with a net loss of $6.0 million in the third quarter of 2018.
  • The Company’s operational metrics continued to improve and operational efficiency continued to increase.
  • The Company’s continued investment in fintech started to show results.

First Nine Months of 2019 Highlights

  • Net revenues were $26.8 million.
  • Net loss attributable to China Finance Online was $7.9 million, compared with a net loss of $15.5 million in the first nine months of 2018.
  • Built upon our development of a proprietary intelligent asset allocation system, Lingxi Robo-Advisor (“Lingxi”) outperformed most of its peer products in the Chinese market with an average return of 1.7% in the third quarter of 2019, and outperformed a loss of 2.5% in the Shanghai Composite Index.

Mr. Zhiwei Zhao, Chairman and CEO of China Finance Online, commented that “During the third quarter of 2019, our bottom-line loss was significantly reduced. The weak Hong Kong markets and the falling investor confidence in the third quarter of 2019 led to a revenue decline in our brokerage business in Hong Kong. With the improvement of our business model and higher operation efficiency, our gross margin was also strengthened from the same period of last year.”

“Similar to the transition of brokerage services in the US, Chinese financial institutions are moving away from a trading commission-oriented business model to holistic financial services encompassing wealth management, investor education, and asset allocation advisory. Our dedication to leveraging technologies to empower wealth managers and improve customer loyalty has bought us closer to many financial institutions. This paradigm shift in the financial industry also set the stage for us to change the revenue model from one-off project services to annual retainers. Our Genius Zhisheng has received such standard annual contracts from brokerage firms. Our institutional business is showing good indications.”

“After a weak second quarter, the Chinese stock markets continued to soften during the third quarter and the Shanghai Composite Index dropped from 2979 to 2905. However, the traffic to our flagship website, JRJ.com.cn, continued to rise, reaching No. 150 in Alexa’s Global Ranking and No. 35 in China, respectively. We remain one of the most trusted financial news hubs with our proprietary content, fact-based journalism, breaking news coverage and analysis on market trends. Growing traffic attracted not only more readers but also more advertisers. As a result, our advertising business is growing rapidly.”

“Looking into 2020, we will continue to optimize and upgrade our services and products, and also remain confident to leverage our fintech capabilities to add value to our institutional customers and grow our market share and earning power,” Mr. Zhao concluded.

Third Quarter 2019 Financial Results

Net revenues were $8.1 million, compared with $8.6 million during the third quarter of 2018 and $8.9 million during the second quarter of 2019. During the third quarter of 2019, revenues from financial services, the financial information and advisory business, and advertising services contributed 44.5%, 29.7% and 25.4% of the net revenues, respectively, compared with 54.7%, 27.3% and 16.8%, respectively, for the corresponding period in 2018.

Revenues from financial services were $3.6 million, a decrease of 23.9%, compared with $4.7 million during the third quarter of 2018 and $4.2 million during the second quarter of 2019. The year-over-year and quarter-over-quarter decreases of revenues from financial services were mainly due to a decline in the equity brokerage business.

Revenues from the financial information and advisory business were $2.4 million, compared with $2.4 million during the third quarter of 2018 and $2.9 million in the second quarter of 2019. The quarter-over-quarter decrease of revenues from the financial information and advisory business was mainly attributable to the weakness in subscription services from individual customers, which was negatively affected by the continued soft stock market during the third quarter.

Revenues from advertising services were $2.0 million, an increase of 41.4%, compared with $1.4 million in the third quarter of 2018 and $1.9 million in the second quarter of 2019. The increased traffic to our site and readers’ recognition of our premium content also helped to strengthen our advertising revenues on a year-over-year basis.

Gross profit was $5.0 million, compared with $5.0 million in the third quarter of 2018 and $5.6 million in the second quarter of 2019. Gross margin in the third quarter of 2019 was 62.3%, compared with 58.2% in the third quarter of 2018 and 63.1% in the second quarter of 2019, respectively. The year-over-year increase in gross margin was mainly due to the revenue mix with higher advertising revenues.

General and administrative expenses were $2.3 million, a decrease of 25.2% from $3.1 million in the third quarter of 2018, and a decrease of 8.8% from $2.5 million in the second quarter of 2019, respectively. The year-over-year decrease was mainly due to effective cost control measures and the ongoing streamlining of the operations. The quarter-over-quarter decrease was mainly due to the adjustment of the agency fee related to the Hong Kong sector.

Sales and marketing expenses were $2.8 million, a decrease of 41.2% from $4.8 million in the third quarter of 2018 and a decrease of 26.6% from $3.8 million in the second quarter of 2019, respectively. The year-over-year decrease was mainly attributable to the further streamlining of sales and marketing as well as improved operational efficiency. The quarter-over-quarter decrease was mainly due to the terminated commodity trading business.

Research and development expenses were $2.2 million, a decrease of 36.7% from $3.5 million in the third quarter of 2018 and a decrease of 14.0% from $2.6 million in the second quarter of 2019, respectively. The year-over-year and quarter-over-quarter decreases were mainly attributable to improved efficiency after the consolidation of the R&D team. The Company continues to maintain a team of senior software engineers, data scientists and capital market professionals to support further development in its fintech capabilities.

Total operating expenses were $7.3 million, a decrease of 35.5% from $11.3 million in the third quarter of 2018, and a decrease of 18.0% from $8.9 million in the second quarter of 2019, respectively. The year-over-year and quarter-over-quarter decreases were mainly due to improved operational efficiency and effective cost control.

Loss from operations was $2.3 million, compared with a loss from operations of $6.3 million in the third quarter of 2018 and a loss from operations of $3.3 million in the second quarter of 2019, respectively.

Net loss attributable to China Finance Online was $2.1 million, compared with a net loss of $6.0 million in the third quarter of 2018 and a net loss of $3.0 million in the second quarter of 2019.

Fully diluted loss per American Depository Shares (“ADS”) attributable to China Finance Online was $0.09 for the third quarter of 2019, compared with fully diluted loss per ADS of $0.26 for the third quarter of 2018 and fully diluted loss per ADS of $0.13 for the second quarter of 2019. The basic and diluted weighted average number of ADSs for the third quarter of 2019 were 23.0 million, compared with basic and diluted weighted average number of ADSs of 22.8 million for the third quarter of 2018. Each ADS represents five ordinary shares of the Company.

First Nine Months of 2019 Financial Results

Net revenues for the first nine months of 2019 were $26.8 million, compared with $34.8 million in the first nine months of 2018.

Gross profit for the first nine months of 2019 was $17.0 million, compared with $21.7 million in the first nine months of 2018.

Net loss attributable to China Finance Online for the first nine months of 2019 was $7.9 million, compared to a net loss of $15.5 million in the first nine months of 2018.

Fully diluted losses per ADS attributable to China Finance Online was $0.34 for the first nine months of 2019, compared with fully diluted loss of $0.68 for the first nine months of 2018.

As of September 30, 2019, total shareholders’ equity of China Finance Online was $27.7 million. Total cash and cash equivalents and long-term investments were $9.3 million.

Recent Developments 

  • Announcement of Management Change

On December 15, 2019, the Board of Directors of the Company appointed Ms. Ying Zhu as the Acting Chief Financial Officer of the Company because of the needs of operation. Ms. Ying Zhu joined the Company in July 2010 and has served as the Company’s Director of Investor Relations, Director of Strategy, Assistant to Chairman and Head of President Office. She also serves as Vice President of Rifa Securities Limited in Hong Kong. Ms. Ying Zhu obtained her Master of Law and Bachelor of Economics majoring in Finance from International Business School of Beijing Language and Culture University.

  • Lingxi Robo-Advisor recorded strong performance in the third quarter of 2019

According to our proprietary asset allocation system, our Robo-Advisor product, Lingxi, provides Chinese retail investors with a wide array of investment combinations and personalized global asset allocations through Chinese domestic mutual funds. Since its inception, Lingxi established a solid track record of balancing performance and risk management. During the third quarter of 2019, Lingxi produced an average return of 1.7%, once again among the best performing products in the marketplace and outperforming the Shanghai Composite Index that suffered a loss of 2.5% during the same period. The best strategy of Lingxi posted a return of 2.36% in the third quarter of 2019. All strategies of Lingxi managed to control the fluctuation under 5.37% while the volatility of Shanghai Composite Index reached 14.04% during the same period.

  • 2019 Leading China Annual Forum

In December 2019, the Company hosted the “2019 Leading China Annual Awards” in Beijing. The key discussions were investments with artificial intelligence, 5G, biotech, big data, quantum computing, insurance technologies and block-chain. The conference is committed to promoting the long-term health of the financial industry in China and has received high recognition from financial regulators and institutions. There were senior government officials and over 1000 professionals from 436 financial institutions in attendance at the event.

  • 2019 JRJ Chinese Public Companies Innovation Symposium

In November 2019, the Company hosted the “2019 Chinese Public Companies Innovation Symposium” in Beijing. A total of 340 professionals from over 260 prestigious technology companies and public companies listed on the Shenzhen and Shanghai stock markets and influential financial institutions attended the forum. The main topics in the forum were asset allocation in 2020, state-owned enterprise reforms, sustainable development, and investing with social responsibility.

During the Symposium, China Finance Online also released the research report “A-share Public Companies Growth Review,” which is based on China Finance Online’s proprietary algorithms dynamically tracking a series of datapoints including financials, valuation, growth trends, ESG (environment, social and governance) and other metrics, which enable investors to identify investment opportunities and discover valuable companies.

Conference Call Information

The management will host a conference call on December 26, 2019 at 8:00 p.m. U.S. Eastern Time (9:00 a.m. Beijing/Hong Kong time December 27, 2019). Dial-in details for the earnings conference call are as follows:

US: 1-800-742-9301
Hong Kong: 800-906-648
Singapore: 800-616-2313
Mainland China: 800-870-0210 or 400-120-3170
Conference ID: 9883104

Please dial in 10 minutes before the call is scheduled to begin and provide the conference ID to join the call.

A recording of the call will be available on China Finance Online’s website under the investor relations section.

In addition, a live and archived webcast of the conference call will be available at https://edge.media-server.com/mmc/p/9d3zuqu7.

About China Finance Online

China Finance Online Co. Limited is a leading web-based financial services company that provides Chinese retail investors with fintech-powered online access to securities trading services, wealth management products, securities investment advisory services, as well as financial database and analytics services to institutional customers. The Company’s prominent flagship portal site, www.jrj.com, is ranked among the top financial websites in China. In addition to the web-based securities trading platform, the Company offers basic financial software, information services and securities investment advisory services to retail investors in China. Through its subsidiary, Shenzhen Genius Information Technology Co. Ltd., the Company provides financial database and analytics to institutional customers, including domestic financial, research, academic and regulatory institutions. China Finance Online also provides brokerage services in Hong Kong.

Safe Harbor Statement

This press release contains forward-looking statements which constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. The statements contained herein reflect management’s current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results to differ materially from those in the forward-looking statements, all of which are difficult to predict and many of which are beyond the control of the Company. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, this release contains the following forward-looking statements regarding:

  • our prospect and our ability to attract new users;
  • our prospect on building a comprehensive wealth management ecosystem through providing a fully-integrated online communication and securities-trading platform;
  • our prospect on stabilization in cash attrition and improvement of our financial position;
  • our initiatives to address customers’ demand for intuitive online investment platforms and alternative investment opportunities; and
  • the market prospect of the business of securities-trading, securities investment advisory and wealth management.

Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, which risk factors and uncertainties include, amongst others, changing customer needs, regulatory environment and market conditions that we are subject to; the uneven condition of the world and Chinese economies that could lead to volatility in the equity markets and affect our operating results in the coming quarters; the impact of the changing conditions of the mainland Chinese stock market, mainland Chinese precious metals exchanges, Hong Kong stock market and global financial markets on our future performance; the unpredictability of our strategic transformation and growth of new businesses; the prospect of our margin-related business and the degree to which our implementation of margin account screening and ongoing monitoring will yield successful outcomes; the degree to which our strategic collaborations with partners will yield successful outcomes; the prospects for China’s high-net-worth and middle-class households; the prospects of equipping our customer specialists with new technology, tools and financial knowledge; wavering investor confidence that could impact our business; and possible non-cash goodwill, intangible assets and investment impairments may adversely affect our net income. Further information regarding these and other risks is included in the Company’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F under “Forward-Looking Information” and “Risk Factors.” The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

For more information, please contact:

China Finance Online
+86-10-8336-3100
ir@jrj.com

Kevin Theiss
Awaken Advisors
(212) 521-4050
kevin@awakenlab.com

— Tables Follow —

China Finance Online Co. Limited

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands of U.S. dollars)

Sep. 30,

2019

Dec. 31,

2018

Assets

Current assets:

Cash and cash equivalents

6,991

12,493

Trust bank balances held on behalf of customers

38,240

31,218

Accounts receivable, net – others

14,767

7,102

Accounts receivable, net – Margin clients

14,089

17,751

Prepaid expenses and other current assets

3,378

2,409

Total current assets

77,465

70,973

Long-term investments, net

2,337

2,411

Property and equipment, net

3,449

4,459

Acquired intangible assets, net

85

85

Right-of-use assets

4,595

Rental deposits

814

964

Goodwill

108

108

Deferred tax assets

875

1,473

Other deposits

155

216

Total assets

89,883

80,689

Liabilities and equity

Current liabilities:

Deferred revenue, current (including deferred revenue, current of the
   consolidated variable interest entities without recourse to China Finance
   Online Co. Limited of $6,154 and $7,119 as of Sep. 30, 2019 and December
   31, 2018, respectively)

6,881

8,127

Accrued expenses and other current liabilities (including accrued expenses
   and other current liabilities of the consolidated variable interest entities
   without recourse to China Finance Online Co. Limited of $2,785 and $3,846 as
   of Sep. 30, 2019 and December 31, 2018, respectively)

16,782

11,728

Dividends payable to noncontrolling interests (including dividends payable
   of the consolidated variable interest entities without recourse to China Finance Online 
   Co. Limited of 
nil and nil as of Sep. 30, 2019 and December. 31, 2018, respectively)

Amount due to customers for trust bank balances held on behalf of customers
   (including amount due to customers for trust bank balances held on behalf of
   customers of the consolidated variable interest entities without recourse to
   China Finance Online Co. Limited of $2,651 and $5,599 as of Sep. 30, 2019 and
   December 31, 2018, respectively)

38,240

31,218

Accounts payable (including accounts payable of the consolidated variable
   interest entities without recourse to China Finance Online Co. Limited of
   $180 and $189 as of Sep. 30, 2019 and December 31, 2018, respectively)

5,280

2,947

Lease liabilities, current (including lease liabilities, current of the
   consolidated variable interest entities without recourse to China Finance Online
   Co. Limited of 
$1,641 and nil as of Sep. 30, 2019 and December 31, 2018, respectively)

2,285

Income taxes payable (including income taxes payable of the consolidated
   variable interest entities without recourse to China Finance Online Co. Limited of
   $(2) and $(2) as of Sep. 30, 2019 and December 31, 2018, respectively)

155

155

Total current liabilities

69,623

54,175

Deferred tax liabilities (including deferred tax liabilities of the consolidated
   variable interest entities without recourse to China Finance Online Co.
   Limited of nil and $13 as of Sep. 30, 2019 and December 31, 2018, respectively)

16

29

Lease liabilities, non-current (including lease liabilities, non-current of the consolidated variable
   interest entities without recourse to China Finance Online Co. Limited of $1,111 and
   nil as of Sep. 30, 2019 and December 31, 2018, respectively)

2,011

Deferred revenue, non-current (including deferred revenue, non-current of
   the consolidated variable interest entities without recourse to China Finance
   Online Co. Limited of $(12) and $(9) as of Sep. 30, 2019 and December 31, 2018,
   respectively)

137

149

Total liabilities

71,787

54,353

Noncontrolling interests

(9,636)

(9,110)

Total China Finance Online Co. Limited Shareholders’ equity

27,732

35,446

Total liabilities and equity

89,883

80,689

 

 

China Finance Online Co. Limited

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(in thousands of U.S. dollars, except share and ADS related data)

Three months ended

Nine months ended

Sep. 30,

2019

Sep. 30,

2018

Jun. 30,

2019

Sep. 30,

2019

Sep. 30,

2018

Net revenues

8,051

8,614

8,927

26,833

34,820

Cost of revenues

(3,036)

(3,600)

(3,294)

(9,826)

(13,119)

Gross profit

5,015

5,014

5,633

17,007

21,701

Operating expenses

General and administrative (includes share-based
   compensation expenses of $168, $371, $290,
   $763 and $1,514 respectively)

(2,290)

(3,063)

(2,510)

(7,488)

(9,318)

Sales and marketing (includes share-based compensation
   expenses of $13, $65, $3, $46 and $197, respectively)

(2,816)

(4,796)

(3,839)

(10,245)

(17,623)

Product development (includes share-based
   compensation expenses of $8, $61, $14, $38
   and $188, respectively)

(2,195)

(3,468)

(2,551)

(7,323)

(10,999)

Total operating expenses

(7,301)

(11,327)

(8,900)

(25,056)

(37,940)

Income (loss) from operations

(2,286)

(6,313)

(3,267)

(8,049)

(16,239)

Interest income

5

4

11

25

82

Interest expense

(1)

Long-term investment loss, net

(1)

Short-term investment income, net

2

2

5

12

(77)

Gain (loss) on the interest sold and retained noncontrolling

   investment

(298)

(1)

Equity method investment income

(1)

(1)

(4)

(3)

Other income (loss), net

77

(132)

(53)

24

(442)

Exchange gain (loss), net

76

61

34

10

173

Income (loss) before income tax expenses

(2,127)

(6,379)

(3,271)

(8,280)

(16,508)

Income tax expenses

(108)

76

35

(574)

(58)

Net income (loss)

(2,235)

(6,303)

(3,236)

(8,854)

(16,566)

Less: Net income (loss) attributable to the
   noncontrolling interest

(131)

(283)

(268)

(1,001)

(1,050)

Net income (loss) attributable to China Finance

   Online Co. Limited

(2,104)

(6,020)

(2,968)

(7,853)

(15,516)

Net income (loss)

(2,235)

(6,303)

(3,236)

(8,854)

(16,566)

Changes in foreign currency translation adjustment

(189)

(189)

52

(124)

(269)

Other comprehensive income (loss), net of tax

(189)

(189)

52

(124)

(269)

Comprehensive income (loss)

(2,424)

(6,492)

(3,184)

(8,978)

(16,835)

Less: comprehensive income (loss)
   attributable to noncontrolling interest

(131)

(283)

(268)

(1,001)

(1,050)

Comprehensive income (loss) attributable to China Finance

   Online Co. Limited

(2,293)

(6,209)

(2,916)

(7,977)

(15,785)

Net income (loss) per share attributable to China Finance

   Online Co. Limited

Basic

(0.02)

(0.05)

(0.03)

(0.07)

(0.14)

Diluted

(0.02)

(0.05)

(0.03)

(0.07)

(0.14)

Net income (loss) per ADS attributable to China Finance

   Online Co. Limited

Basic

(0.09)

(0.26)

(0.13)

(0.34)

(0.68)

Diluted

(0.09)

(0.26)

(0.13)

(0.34)

(0.68)

Weighted average ordinary shares

Basic

115,060,781

113,905,561

114,690,324

114,561,418

113,872,953

Diluted

115,060,781

113,905,561

114,690,324

114,561,418

113,872,953

Weighted average ADSs

Basic

23,012,156

22,781,112

22,938,065

22,912,284

22,774,591

Diluted

23,012,156

22,781,112

22,938,065

22,912,284

22,774,591

 

Cision View original content:http://www.prnewswire.com/news-releases/china-finance-online-reports-third-quarter-and-first-nine-months-of-2019-unaudited-financial-results-300979396.html

SOURCE China Finance Online Co., Ltd.

transcosmos China wins the "Intelligent Customer Service Outsourcing Solutions Award" by CTI Forum

TOKYO, Dec. 26, 2019 /PRNewswire-PRWeb/ — transcosmos inc. is delighted to announce that Shanghai transcosmos Marketing Services Co., Ltd. (Headquarters: Shanghai, China; CEO: Eijiro Yamashita; transcosmos China), its wholly-owned subsidiary received the “Intelligent Customer Service Outsourcing Solutions Award” at the “CTI Forum 2019 Editors’ Choice Award” hosted by CTI Forum on December 20, 2019. This marks the third consecutive year that the company received the award since 2017.

Started in 2011, this year marks the 9th anniversary of the “CTI Forum Editors’ Choice Award” hosted by the CTI Forum, a dominant Chinese online media company which offers information services. The winners were selected after going through screening processes including “Self-nomination / Nomination and Experts’ reviews,” receiving diverse inputs from the industry. The industry experts assess and evaluate outstanding Information Communication Technology (ICT) products, solutions and specialists in the ICT industry based on their rich experience and powerful insights into the industry accumulated over a number of years. Highly recognized for its intelligent customer service solutions that have achieved many successes, transcosmos China won the award once again.

Recognizing the fact that the adoption of Artificial Intelligence (AI) and big data technology continues to spread rapidly in the contact center industry, transcosmos China released chatbot-human agent hybrid solutions in 2017 by leveraging the intelligent speech recognition technology. With a team of dedicated data analysts that has abundant operational records in building a knowledge base, analyzing VOC (Voice Of Customer), building and managing a corpus, training robots and more, transcosmos China offers intelligent contact center solutions and services where chatbots and agents work hand in hand. transcosmos China helps clients build and operate smart contact centers whilst contributing to clients in maximizing their profits and optimizing customer experience (CX).

  •   transcosmos history in China

transcosmos entered the Chinese market and launched its offshore services business in 1995. In 2006, the company opened its first call center in Shanghai and started to provide call center services for the Chinese market. Today, transcosmos has its bases and subsidiaries across 20 cities in China including Shanghai, Beijing, Tenzin, Hefei, Xi’an, Changsha, Wuhan, Suzhou, Taipei and more. The company offers extensive services such as business process outsourcing (BPO) including contact centers, e-commerce one-stop, digital marketing and system development for both Chinese and global brands. As of September 2019, approximately 7,000 transcosmos employees work in China.    

As a global BPO services player, transcosmos will continue to help clients improve their customer satisfaction, optimize costs and expand sales by offering high-quality and high-value services.

*transcosmos is a trademark or registered trademark of transcosmos inc. In Japan and other countries.
*Other company names and product or services names used here are trademarks or registered trademarks of respective companies.

About transcosmos inc.
transcosmos launched its operations in 1966. Since then, we have combined superior “people” with up-to-date “technology” to enhance the competitive strength of our clients by providing them with superior and valuable services. transcosmos currently offers services that support clients’ business processes focusing on both sales expansion and cost optimization through our 168 bases across 30 countries/regions with a focus on Asia, while continuously pursuing Operational Excellence. Furthermore, following the expansion of e-commerce market on the global scale, transcosmos provides a comprehensive One-Stop Global E-Commerce services to deliver our clients’ excellent products and services in 48 countries/regions around the globe. transcosmos aims to be the “Global Digital Transformation Partner” of our clients, supporting the clients’ transformation by leveraging digital technology, responding to the ever-changing business environment.
https://www.trans-cosmos.co.jp/english/

 

SOURCE transcosmos inc.

The global Intrusion Detection and Prevention Systems (IDPS) market size is projected to grow from USD 4.7 billion in 2019 to USD 7.1 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 8.3%

NEW YORK, Dec. 26, 2019 /PRNewswire/ —

An increase in the number of security breaches and cyberattacks faced by organizations is driving the growth of the global intrusion detection and prevention systems market

Read the full report: https://www.reportlinker.com/p05835372/?utm_source=PRN

The global Intrusion Detection and Prevention Systems (IDPS) market size is projected to grow from USD 4.7 billion in 2019 to USD 7.1 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 8.3% from 2019 to 2024. An increasing number of security breaches and cyberattacks and mandate to follow regulatory and data protection laws have contributed to the growth of the IDPS ecosystem.
• By deployment, the cloud segment hold a larger market size in 2019

Organizations are migrating their infrastructure to cloud due to its lower cost and features, such as agility, scalability, speed, and cost-efficiency.In the cloud deployment mode, a service provider hosts the entire infrastructure and its capabilities, which are provided to organizations on a need-basis and can scale up when required.

As the cloud system provides users with the ability to execute tasks anywhere, it makes the system more vulnerable to cyberattacks, and the malware can be spread in these environments more quickly.
However, cloud solutions make detection faster by scanning all the endpoints and servers that are connected in the system.Organizations suffer from staff shortage when it comes to maintaining security operations.

Cloud platforms come with other additional services, such as support and consulting which are provided by security vendors, Managed Security Service Providers (MSSPs), and other vendors offering IDPS platform or solutions.

APAC to register the highest growth rate during the forecast period
Asia Pacific (APAC) comprises of emerging economies, such as India, China, Australia, and Japan, with developed security infrastructure.Machine Learning (ML), Internet of Things (IoT), big data analytics, and Artificial Intelligence (AI) are emerging methodologies that are being deployed in this region.

APAC is home to large number of established Small and Medium-sized Enterprises (SMEs), which are growing at laudable pace to cater to their large customer base.Despite the growing importance of SMEs in this region, they are most affected mostly by cyber and malware attacks owing to budgetary constraints and resource shortages.

According to FireEye, organizations in APAC take almost 3 times as long as the Rest of the World (RoW) to realize that a malware has successfully broken into their network mainly because of the dependency on external third-parties. According to a report by Malwarebytes in January 2019, APAC remains a prime target for cyberattacks, with Australia, Indonesia, Malaysia, Thailand, and the Philippines among the top 10 countries with most business malware detections globally.
• By Company Type: Tier 1 – 55%, Tier 2 – 27%, and Tier 3 – 18%
• By Designation: C-level – 33%, D-level – 25%, and Others – 42%
• By Region: North America – 38%, Europe – 14%, APAC – 19%, RoW – 29%

Major vendors offering IDPS solutions include Cisco Systems (US), International Business Machines Corporation (US) , McAfee LLC (US), Trend Micro Inc. (Japan), Palo Alto Networks, Inc. (US), AT&T Cybersecurity (US), Darktrace (US and UK), FireEye, Inc. (US), Alert Logic, Inc. (US), Fortinet, Inc. (US). The IDPS market study includes an in-depth competitive analysis of these key players, along with their profiles, recent developments, and key market strategies.

Research Coverage
The market study covers the IDPS market size across different segments.It aims at estimating the market size and the growth potential across different segments, including components, type, organization size, deployment mode, vertical, and region.

The study further includes an in-depth competitive analysis of the leading market players, along with their company profiles, key observations related to product and business offerings, recent developments, and market strategies.

Key Benefits of Buying the Report
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the global IDPS market and its subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies.

Moreover, the report will provide insights for stakeholders to understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.

Read the full report: https://www.reportlinker.com/p05835372/?utm_source=PRN

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.

__________________________
Contact Clare: clare@reportlinker.com
US: (339)-368-6001
Intl: +1 339-368-6001

Cision View original content:http://www.prnewswire.com/news-releases/the-global-intrusion-detection-and-prevention-systems-idps-market-size-is-projected-to-grow-from-usd-4-7-billion-in-2019-to-usd-7-1-billion-by-2024–at-a-compound-annual-growth-rate-cagr-of-8-3-300979376.html

SOURCE Reportlinker

Ground Breaking Year for noHold’s Artificial Intelligence Platform, SICURA®

MILPITAS, Calif., Dec. 26, 2019 /PRNewswire/ — As 2019 is coming to an end, we are happy to reflect on the milestones noHold was able to achieve this year. Here are a few of the major accomplishments:

  • noHold launched several new AI offerings this year:
    • Single Point of Search which provides companies that have multiple repositories of information, an easier way to find and efficiently deliver content to their customers.
    • The HR Advisor, designed to help the HR staff of companies with a large or growing workforce. Employees can ask the Virtual Assistant a question and get an answer in real time. This leaves the HR department with more time/resources to handle the things that require human intervention.
    • The Sales Companion – empowering sales teams to increase revenue and reduce sales cycles. This Virtual Assistant can be leveraged by the sales person, the sales manager, and the sales operations manager.
  • noHold held its first AI symposium in Italy this summer. During this exclusive three-day event, attendees from all over the world joined together to receive personalized training and best practices by noHold experts.
  • noHold has penetrated multiple new verticals this year including:
    • Partnering with a financial institution that now utilizes Virtual Assistants for over 300 banks across the US.
    • Also, deploying a Virtual Assistant for the Education space to more than 7500 Higher Education institutions.

“This year we have celebrated our 20th Anniversary, making noHold the most experienced company in the AI-based Virtual Assistant space. We couldn’t have done it without the support of our customers and the dedication of our employees,” said Diego Ventura, CEO and Founder of noHold Inc.

About noHold, Inc.

noHold is a privately held company established in 1999 and is headquartered in Milpitas, CA, USA (Silicon Valley). noHold is the acknowledged leader in Web based Self-service solutions with a mission to deliver real answers to real questions – real fast. Simple to use, easy to implement and as close to human as you can get, noHold turns automated customer support into cognitive customer interactions. noHold customers include Cisco, Dell, McAfee and a host of industry leaders. More information can be found at http://www.nohold.com.

Press Contact

Veronica Cech
Marketing Associate
231495@email4pr.com
408.946.9200 ext. 356

All other product and service names are the property of their respective owners.

Cision View original content:http://www.prnewswire.com/news-releases/ground-breaking-year-for-noholds-artificial-intelligence-platform-sicura-300979109.html

SOURCE noHold

Objection Launches Reputation Management Software in the US

LOS ANGELES, Dec. 26, 2019 /PRNewswire-PRWeb/ — Objection, the leading reputation management software, has officially launched in the United States. Objection takes a technical and legal approach to have fraudulent reviews disputed based on established guidelines. The company uses artificial intelligence for automated detection to dispute these reviews in legal compliance with all terms of service and content guidelines.

Objection is the only software that allows users to Identify and dispute fraudulent reviews online, as well as through popular applications such as Slack, Alexa and Facebook messenger. Unlike the popular reputation management services currently on the market, Objection does not solicit feedback to generate positive reviews, nor do they post reviews to social media platforms.

“We’ve created a truly different reputation management solution with the AI-powered Objection software,” said Curtis Boyd, founder and CEO of Objection. “Unlike the other players in our ecosystem, Objection is based on cutting edge Machine Learning technology that provides business owners with customized review responses whenever the review can’t be automatically removed. Objection’s users aren’t paying for software to have reviews removed at random, but our servers use an autonomous learning system that evaluates performance based on a single outcome of removing incorrect or fake reviews.”

Objection’s software uses Google’s Tensorflow Convolusional Neural Network to analyze online and application content. The company deploys both supervised and unsupervised Machine Learning to predict and analyze large batches of review content. Instead of creating new content to push the incorrect reviews down in the search results, Objection disputes them based on known violations of TOS, Content Guidelines and Community Standards provided by over 15 review websites. By using AI, Objection can legitimately dispute incorrect and fake reviews leaving only the authentic content.

About Objection

Objection is the only truly comprehensive software designed to help business owners detect, dispute and respond to negative, fake or incorrect customer reviews. Their products provide exceptional 360-degree services that guide users through the reputation management process past the traditional SEO ranking strategies. Objection streamlines the understanding of terms of service, content guidelines and legal compliance of most major web and application properties.

The software is addressing an unmet need for a legitimate and automated detection and removal tool so business owners can improve their customer’s experience. For more information, please call 310-465-8460.

 

SOURCE Objection

CyberScout Shares Top Cybersecurity Predictions for 2020

SCOTTSDALE, Ariz., Dec. 26, 2019 /PRNewswire/ — As 2019 comes to an end, cybersecurity experts are preparing for a new year—and a new decade—and all the cyber scams, breaches, attacks and privacy concerns that threaten consumers and businesses. CyberScout, an industry leader in cyber insurance, data security, and identity theft protection, continues to strengthen defenses against the constantly evolving cyber threats that will shape the 2020 security landscape, encouraging consumers and business owners to stay informed and aware.

“While consumers and business leaders are more aware of cybersecurity and privacy than ever before, cybercriminals continue to innovate,” said CyberScout Founder and Chairman Adam Levin. “As defenses improve, the attack vectors become more nuanced and technically impressive. You are your best guardian when it comes to your privacy and personal cybersecurity.” 

The following is Levin’s first series of predictions for 2020:

  1. Cybersecurity workforce shortages. There will be a shortage of experts, adding pressure on CISO’s charged with tackling an increasing issue environment. With the demand for cybersecurity professionals far exceeding supply, the market will have to start filling openings with less qualified people.
  2. The disinformation blob will grow. With the success of weaponized misinformation campaigns in the 2016 and 2018 U.S. elections, expect to see more of them in the private sector, with businesses adopting troll farm tricks to hurt the competition.
  3. Ransomware will continue to thrive.  Phishing attacks will continue to lead to ransomware infecting more and more networks. Businesses, municipalities and other organizations will continue to pay whatever they must in order to regain control of their data and systems. We will also see better backup practices that will help minimize or neutralize the threat of these attacks. 
  4. IoT botnets will make dystopian paranoia seem normal. IoT will continue to grow exponentially. In 2020, there will be somewhere around 20 billion IoT devices in use around the world. Unfortunately, many are not secure because they are protected by nothing more than manufacturer default passwords readily available online. They will be weaponized (like in years’ past), but with increasing skill and computing power. 
  5. The integrity of the U.S. elections will be questioned—for good reason. There are still voting machines in use that are far from secure and would not pass the simplest of audits. Some states continue to use machines that leave no paper trail. Look forward to questions regarding election security all year. 
  6. Cryptocurrency miners will continue to get rich off stolen electricity. Related to the botnet craze, we will see an increase in computing power theft used to mine cryptocurrency. With bots becoming exponentially more effective as the result of AI and cloud computing, we will see a renaissance of Wild West behavior in the world’s blockchain digital ledger.  
  7. Zero-trust environments will be talked about. A few may exist. The assumption that one can trust the home team—people within one’s organization—has been replaced with zero-trust policies. Zero-trust simply means that no one can be trusted, in or outside the organization. With this assumption foremost, new systems make breaches and compromises harder to happen.
  8. More people will know what “protect surface” means. Protect surface is part of the zero-trust environment. An organization’s attackable surface includes every error-prone human in its employ as well as the mistakes in configuration they may have committed along the way and any number of other issues. The protect surface is much smaller and must be kept out of harm’s way. The more we talk about subjects like protect surface, the stronger our cybersecurity will be.
  9. Cars will be frozen. Driverless cars are going to hit things as well as get hit by hackers. Cars that talk to satellites are toast. It’s going to happen. (Or not. But it totally could.)
  10. 5G will make the cyber smash grab a thing.  5G is going to make everything move fast, as will the new generation USB4 devices. With quicker speed, it will take much less time to transfer data. Coincidentally, criminals appreciate this as much as the rest of us. 
  11. Social media will no longer need to be private. Social media companies will probably become a bit more responsible when it comes to the way they gather, store, crunch, analyze and sell our data to marketing companies and small to medium sized businesses looking to connect directly with consumers.
  12. State-sponsored traffic jams will be a thing. Hackers are going to target operational systems with an array of tactics that include ransomware and more DDoS attacks that will snarl things up in ways we’ve not yet seen. The targets will be financial institutions, the power grid, elections, proprietary business information, city services and infrastructure like traffic lights and much more that can wreak havoc on our day to day lives.
  13. You’re going to have personal cyber insurance. Insurance companies will be writing more comprehensive cyber liability policies for businesses and offering innovative personal cyber coverage for consumers.
  14. HR will save money by spending some. More employers will offer their employees identity protection products and services as part of their paid or voluntary benefits programs. An employee who has their identity stolen is not very productive and if, as part of that identity theft, their user ID or passwords are exposed, a thief might have what he or she needs to access an employer’s network and sensitive databases.
  15. The cloud will leak. The parade of stories about misconfigured cloud clients and data stored without any password protection on cloud services will continue apace, perhaps in part because of the CISO and cybersecurity workforce shortage discussed in the first prediction. 
  16. AI will gladly take your job.  AI is here and it’s willing to work. The CISO shortage as well as many of the innovations discussed in this list of predictions will be increasingly addressed and powered by Artificial Intelligence. 

“Disinformation efforts, election security and continued attacks on local governments and major metropolitan hubs are escalating concerns of how disruptive and dangerous cybercrimes are becoming,” continued Levin. “2020 promises to be an interesting ride. Be smart and stay safe by staying informed and seeking cyber insurance protection for you, your family and your business.” 

Members of the media interested in speaking with CyberScout Founder and Chairman, Adam Levin, can contact media@cyberscout.com.

For more information on CyberScout security solutions, please visit https://cyberscout.com/en/solutions.

About Adam Levin:
Levin is a nationally recognized expert on cybersecurity, identity theft, and personal finance and has distinguished himself as a fierce consumer advocate for the past 40 years. As former Director of the New Jersey Division of Consumer Affairs, Levin is chairman and founder of CyberScout and author of the critically acclaimed book, Swiped: How to Protect Yourself in a World Full of Scammers, Phishers, and Identity Thieves.

About CyberScout: 
Since 2003, CyberScout has set the standard for full-spectrum identity, privacy and data security services, offering proactive protection, education, and data theft resolution as well as breach preparedness and response. Serving approximately 17.5 million households worldwide and the designated identity theft services provider for more than 770,000 businesses, CyberScout is offered globally by an ever-growing number of client partners. CyberScout combines extensive experience with high-touch service to help individuals, government and commercial clients minimize risk and maximize recovery.

Contact: Heather McLaughlin
Email: media@cyberscout.com

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/cyberscout-shares-top-cybersecurity-predictions-for-2020-300979404.html

SOURCE CyberScout

Phoenix Finance Ranked in the "2019 KPMG China Fintech 50"

BEIJING, Dec. 24, 2019 /PRNewswire/ — On December 23rd, KPMG officially announced the list of “2019 KPMG China Fintech 50” and held the awards ceremony for “2019 KPMG China Fintech 50in Beijing. Phoenix Finance, a comprehensive intelligent financial service platform established by Phoenix TV Group for global Chinese, was selected for its development and applying of fintech innovations. Other listed companies include Ant Financial, WeBank, aiBank, JD Digits and FSG.

Phoenix Finance Ranked in the “2019 KPMG China Fintech 50”

The evaluation contents of “2019 KPMG China Fintech 50” consisted of technologies implemented, business mode innovations, reform of traditional finance, solutions of traditional difficulties and improvements of financial efficiency. Over the past months, dozens of partners from KPMG and specialists from different fields evaluated participant companies from the views of innovative technologies, infrastructures, implementation of standardizations and mechanisms. Phoenix Finance made the cut for its excellent contributions in fintech field.

Since it was founded, Phoenix Finance has remained focused on the development and implementation of fintech and the “Intelligent Finance” strategy it started in the beginning of 2015.

President of Phoenix Finance, Vince Zhang attended the ceremony and joined the round-table discussion entitled “Fintech innovation driven by technology breakthroughs”. Mr. Zhang said that traditional wealth management agents can only cover limited customers because they rely on offline wealth management consultants. However, intelligent wealth management agents can enlarge the market and will become an important force in the wealth management field. There are almost 200 million emerging wealthy people whose investable assets are between 300,000 yuan to 10 million yuan. They have multiple and complicated wealth management demands such as supporting their retired family members, education for future generations and pensionsGiving importance to intelligent wealth management.

Vince Zhang in the round-table discussion entitled “Fintech innovation driven by technology breakthroughs”

Phoenix Finance has successfully established a set of cutting-edge Fintech-based intelligent technological architecture with the implement of big data, artificial intelligence, blockchain and other technology. It published several backstage operation management tools, including fund storage and management systems, intelligent marketing systems, user management systems and big data risk management systems, and intelligent auxiliary transaction tools which implement in the inclusive finance business, wealth management business and international business.

Its subsidiary, Phoenix Zhi Xin is engaged in network loan information intermediary business, has established an inclusive financial technology system based on fintech, covering online intelligent customer acquisition and big data risk management to provide users effective financial services.

In the wealth management business, Phoenix Finance has implemented its financial technology across the platform. Its intelligent KYC (Know Your Customers) and users needs functions can follow users information to change across tags immediately. Its fintech products and tools can provide users intelligent customized wealth management services, such as the smart wealth management product “Phoenix Accurate”, fully-automatic trading strategy product “Magic Mirror Robo-advisor”, and intelligent news analysis engine “Fengming Intelligent Information.”

As part of Phoenix Finance’s international operations it has a portfolio intelligent management system, hybrid cloud network architecture and online trade system to provide users 24/7 assess to its suite of financial services.

Supported by its innovative technology systems, big data platform, intelligent search engine and business management system, Phoenix Finance has serviced more than 12 million users with immediate customized financial services around China, North America, Southeast Asian and other areas.

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/phoenix-finance-ranked-in-the-2019-kpmg-china-fintech-50-300979247.html

SOURCE Phoenix Finance