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Most of the world is living under eroding democratic accountability

The world’s 12 most populous countries saw declines in a global index measuring democratic accountability. This democratic backsliding could turn into a slippery slope leading to more deterioration, researchers warn.


LOS ANGELES, UNITED STATES – Newsaktuell – 16 May 2024 – An overwhelming majority of the world’s people live in countries that lost ground on measurable benchmarks of democratic accountability from 2010-2021, according to a global index released Wednesday by an international group of governance researchers.

Prof. Helmut K. Anheier speaks on stage during the 2024 Berggruen Governance Index at UCLA Luskin on Wednesday, May 15, 2024, in Los Angeles. The forum aims to foster discussions on best governance practices and explore sustainable solutions for strengthening democratic governance and promoting global stability. (Jordan Strauss/AP Images for Democracy News Alliance)
Prof. Helmut K. Anheier speaks on stage during the 2024 Berggruen Governance Index at UCLA Luskin on Wednesday, May 15, 2024, in Los Angeles. The forum aims to foster discussions on best governance practices and explore sustainable solutions for strengthening democratic governance and promoting global stability. (Jordan Strauss/AP Images for Democracy News Alliance)

The world’s 12 most populous countries, with 4.77 billion people — nearly 59 percent of humanity — all lost ground in the Democratic Accountability Index, a component of the 2024 Berggruen Governance Index (BGI).

Among the 12 biggest countries, India, China, the United States, Indonesia, Brazil, Bangladesh, Russia and the Philippines all saw large declines of 8 to 18 points on the 100-point index. Pakistan, Nigeria, Mexico and Japan had relatively marginal declines of 2 to 4 points.

Across all 145 countries ranked in the democracy index, the average score declined from 67 out of 100 points in 2010 to 65 points in 2021. The global average had risen from 64 to 67 points during 2000-2010.

«We know that small declines in democratic accountability can lead to further declines,» said BGI principal investigator Helmut Anheier, sociologist at the Luskin School of Public Affairs at the University of California Los Angeles (UCLA) and former president of the Hertie School, a German university. «You can get on a slippery slope — it’s called democratic backsliding.»

Ethiopia, the 13th-biggest country with 107 million people, rallied on the democracy index, albeit from a low starting point, from 36 to 49 points. It is alone among the world’s 25 most populous countries to improve its democratic accountability score from 2010-2021.

In a year that is likely to see record voter participation in elections worldwide, the 96-page report, titled «Democracy Challenged», was issued by the Luskin School, which collaborated on the project with the Berggruen Institute, a think tank headquartered in Los Angeles, and the Berlin-based Hertie School.

The Democratic Accountability Index weighs the influence of citizens and institutions on governments, while the full report examines democratic accountability alongside two further indices on public goods and state capacity, with the goal to «better understand why some countries fare better than others at providing a high quality of life».

Amid stalled or deteriorating democratic accountability in many societies, most countries in recent decades have maintained or even improved delivery of public goods — employment, healthcare and education are examples — even in the face of headwinds such as the 2008 financial crisis and more recently the Covid-19 pandemic. Those gains have come in spite of overall stagnant scores for state capacity.

The 10 most improved countries in democratic accountability include four in Africa — Tunisia, Gambia, Liberia and Libya — plus Peru, Armenia, Bhutan, Iraq, Myanmar and Afghanistan. But most of those 10 remain well short of full democracies, and Tunisia, Libya, Myanmar and Afghanistan have likely seen much of their gains erased by unrest and conflict since 2021.

A relative bright spot in the democracy index, Africa as a region «offers more good news than bad,» the report said.

India, which had been stable as the world’s most populous democracy in 2010, has since dipped from a score of 80 to 62 on the democracy index under Prime Minister Narendra Modi’s «increasing strongman rule,» the report said. China slipped from 28 to 20 points by 2021, as President Xi Jinping extended his authority.

Other countries with some of the largest declines in the democracy index are Venezuela, Thailand, Turkey, Yemen and Russia. In the European Union, Poland and Hungary saw significant backsliding through 2021. The new ruling coalition in Poland, where a right-wing populist government accused of undermining democratic standards was defeated in the 2023 elections, shows «the potential for the democratic renewal of illiberal regimes,» the report said.

Top of the democratic accountability index was Denmark at 99 points out of 100. Bottom rank was Syria at 14 points. The United States fell from 95 to 86 points on the democracy index. State capacity in the US is also sliding, from a steady 79 points in 2010 to 64 in 2021.

«The BGI is a wake-up call for everybody who lives in so-called successful democracies, and who is interested in the continuance of this governance form,» said Alexandra Lieben, deputy director of UCLA’s Burkle Center for International Relations. «Because as the report clearly shows, there are fault lines.»

Further coverage by the Democracy News Alliance can be found in the DNA digital newsroom at https://www.presseportal.de/en/nr/174021

By Frank Fuhrig, DNA

This text and the accompanying material (photos and graphics) are an offer from the Democracy News Alliance, a close co-operation between Agence France-Presse (AFP, France), Agenzia Nazionale Stampa Associata (ANSA, Italy), The Canadian Press (CP, Canada), Deutsche Presse-Agentur (dpa, Germany) and PA Media (PA, UK). All recipients can use this material without the need for a separate subscription agreement with one or more of the participating agencies. This includes the recipient’s right to publish the material in own products.

The DNA content is an independent journalistic service that operates separately from the other services of the participating agencies. It is produced by editorial units that are not involved in the production of the agencies’ main news services. Nevertheless, the editorial standards of the agencies and their assurance of completely independent, impartial and unbiased reporting also apply here.

The issuer is solely responsible for the content of this announcement.

Graphisoft Takes Center Stage as Title Sponsor at Singapore Archifest 2024, Showcasing Innovation and Leadership in Architecture

Singapore and regional Industry professionals can anticipate Graphisoft’s latest BIM product innovations, including BIMx on Apple Vision Pro, simplifying workflows and meeting local CORENET X, IDD, and IFC-SG requirements.


SINGAPORE – Media OutReach Newswire – 16 May 2024 – Graphisoft, the leading Building Information Modeling (BIM) software solution developer for architecture and multidisciplinary design, proudly announces its role as the Title Sponsor of the Singapore AF Conference at Singapore Archifest, scheduled for May 15-17.

From right: Chidambaram Chidambaram (Graphisoft), Ar. Melvin HJ Tan (SIA), Tan Kiat How (Senior Minister of State for National Development, Singapore), Edmund Lau (Graphisoft), Tan Tian Chong (Aptiv8 IT Solutions)
From right: Chidambaram Chidambaram (Graphisoft), Ar. Melvin HJ Tan (SIA), Tan Kiat How (Senior Minister of State for National Development, Singapore), Edmund Lau (Graphisoft), Tan Tian Chong (Aptiv8 IT Solutions)

Graphisoft’s sponsorship underscores its commitment to advancing the architectural profession and supporting the community with innovative solutions. “As a leading provider of BIM solutions, we are dedicated to fostering progress and creativity among architects. We are excited to enrich lives and inspire futures as the title sponsor of the AF Conference,” said Edmund Lau, Managing Director of Graphisoft Singapore.

The collaboration between Singapore Institute of Architects and Graphisoft holds profound importance and significance. Archifest offers attendees a plethora of experiences, from exploring Architectural Specifier Market (ASM) Expo, the AF Expo, Conference, and Forum, to immersive design award presentations and networking opportunities. Graphisoft is honoured to participate and deliver profound insights into cutting-edge BIM solutions and pioneering tools meticulously designed to enhance architectural excellence.

Graphisoft has unveiled its latest innovation, BIMx on Apple Vision Pro, marking a significant advancement in architectural visualization. This cutting-edge technology offers an unparalleled immersive environment, bringing design concepts to life more interactively and engagingly.

In addition to BIMx on Apple Vision Pro, Graphisoft will showcase its powerful BIM solution, Archicad Collaborate. This platform enhances workflows with real-time, collaborative capabilities, ensuring seamless compliance with local standards such as CORENET X with IFC-SG and IDD.

Furthermore, there will be expert presentations on the advanced Integrated Digital Delivery (IDD) workflow throughout the entire building lifecycle using Nemetschek Group software, including Graphisoft, Bluebeam, dRofus, dTwin, and Solibri. These tools boost innovation, visualization, and collaboration in the AEC industry.

These innovations highlight Graphisoft’s commitment to pushing the boundaries of architectural design and collaboration, providing architects with the tools they need to create and communicate their visions more effectively.

Visit Graphisoft booth D03 and take advantage of this unique opportunity to see these powerful digital tools, which support efficient, cost-effective project delivery solutions, in action.
Hashtag: #graphisoft #archicad #AEC #Archifest #Nemetschek




The issuer is solely responsible for the content of this announcement.

About Graphisoft

empowers teams to design great buildings through award-winning software solutions, learning programs, and professional services for the AEC industry. Our award-winning products and solutions support OPEN BIM for workflow transparency, longevity, and data accessibility for built assets. Archicad®, the architects’ BIM software of choice, offers a complete end-to-end design and documentation workflow for architectural and integrated architectural and engineering practices of any size. Graphisoft is part of the Nemetschek Group.

Cyber Attack-Data Breach is Top Business Risk Facing Financial Institutions, Aon Survey


HONG KONG SAR – Media OutReach Newswire – 16 May 2024 – Aon plc (NYSE: AON), a leading global professional services firm, has announced the results of its 2023 Global Risk Management Survey, which gathered input from nearly 3,000 risk managers, C-suite leaders, treasurers, talent professionals and other executives from 61 countries and territories to identify their most pressing business challenges.

The 2023 edition of Aon’s biennial survey found the top three business risks facing financial institutions globally are cyber attack/data breach, regulatory/legislative changes, and economic slowdown/slow recovery.

The survey revealed that only 60 percent of financial institutions have plans in place to respond to the risks, compared to 65 percent in 2021. When evaluating organisations’ risk posture against the top ten risks, only 20 percent of the companies have quantified risks while 28 percent have developed a risk management plan. Furthermore, the industry recorded a 26 percent average loss of income from the top ten risks, down eight percent from 2021 though still having a significant financial impact on organisations.

Sucheng Chang, Aon’s head of Hong Kong, said, “Issues with cybersecurity and compliance regulations can lead to cascading effects, such as the risk of damage to brand or reputation which ranked ninth and business interruption which ranked tenth. We see leading financial services firms constantly evolving to mitigate these risks, with best-in-class organisations implementing advanced data analytics and capabilities to assess, quantify and manage the risks they face today and those expected in the future.”

The survey further shows that financial institutions ranked failure to attract or retain top talent at eighth and anticipate it to rise to third place as a future risk, demonstrating a shift in how risk managers will perceive human capital in the future. Shortfalls in talent and critical specialised skills can hamper innovation and competitiveness and increase exposure to cyber attacks, regulatory breaches, supply chain issues, and business interruption for financial institutions.

Lee Voon Keong, Aon’s head of Talent Solutions in Hong Kong, said, “The growing interconnectedness of risks in an unstable business environment makes the race to secure skilled talent and upskilling the existing workforce to address these risks more important than ever. With evolving technologies, coupled with an ageing workforce, the growth of financial institutions in Hong Kong will greatly depend on the ability of organisations to attract top talent with the necessary skills and creativity, in order to remain relevant in a competitive market.”

The top ten business risks for the financial institutions industry, according to the 2023 Global Risk Management Survey, are:

1. Cyber Attack/Data Breach
2. Regulatory/Legislative Changes
3. Economic Slowdown/Slow Recovery
4. Cash Flow/Liquidity Risk
5. Technology/Systems Failure
6. Environmental Risk
7. Interest Rate Fluctuations
8. Failure to Attract or Retain Top Talent
9. Damage to Reputation/Brand
10. Business Interruption

Aon’s Global Risk Management Survey is a biennial web-based research report, was conducted in June to July 2023. The research gathered the responses from 2,842 decision makers including risk managers, c-suite leaders, treasurers, human resources and talent professionals from 16 industry clusters, which include small, medium and large companies in 61 countries/territories around the world.

The Financial Institutions Insights from the Global Risk Management Survey report are available here.

Hashtag: #Aon

The issuer is solely responsible for the content of this announcement.

About Aon

(NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Through actionable analytic insight, globally integrated Risk Capital and Human Capital expertise, and locally relevant solutions, our colleagues provide clients in over 120 countries and sovereignties with the clarity and confidence to make better risk and people decisions that help protect and grow their businesses.

Follow Aon on , , and . Stay up-to-date by visiting Aon’s and sign up for news alerts .”

Disclaimer
The information contained in this document is solely for information purposes, for general guidance only and is not intended to address the circumstances of any particular individual or entity. Although Aon endeavours to provide accurate and timely information and uses sources that it considers reliable, the firm does not warrant, represent or guarantee the accuracy, adequacy, completeness or fitness for any purpose of any content of this document and can accept no liability for any loss incurred in any way by any person who may rely on it. There can be no guarantee that the information contained in this document will remain accurate as on the date it is received or that it will continue to be accurate in the future. No individual or entity should make decisions or act based solely on the information contained herein without appropriate professional advice and targeted research.

Discovery Taiwan And MediaTek Collaborate On New Short Documen-tary, CHASING BREAKTHROUGH


SINGAPORE – Media OutReach Newswire – 16 May 2024 – Discovery Taiwan and MediaTek have collaborated on Chasing Breakthrough, which will premiere on the Discovery Channel on May 21 at 8:05 p.m. This visually stunning short documentary features the people and nature of the Guilin Province in China. It is captured using a smartphone powered by the MediaTek Dimensity 9300 flagship 5G smartphone platform.

The documentary is set in Yangshuo, in the Guilin Province of China, and features its unique karst landscape. A renowned paradise for rock climbers, it spotlights the unsung heroes of the region: the Yangshuo Volunteer Rescue Team. These dedicated volunteers, who often operate behind the scenes, are celebrated for their critical role in ensuring climbers’ safety and preserving the natural environment.

Viewers will journey with the Yangshuo Volunteer Rescue Team led by renowned wilderness rescue expert and rock climber Sun Ling Ye, as they perform rigorous real-life simulations and drills to hone their skills, even during the harsh winter months. Watch as they test their resilience and team collaboration effectiveness under extreme pressure, accelerating each response time while adhering to strict safety protocols. The documentary demonstrates to the world their passion for rock climbing, the importance of teamwork, and the respect for and preservation of the local environment.

Chasing Breakthrough is filmed in part using a smartphone powered by the MediaTek Dimensity 9300 flagship 5G smartphone platform. MediaTek is the world’s #1 smartphone chipset supplier and an industry leader in developing imaging and AI technologies for mobile devices, among many others.

Following the success of Chasing Biodiversity: Hainan, Discovery Taiwan and MediaTek’s previous documentary in 2023, this year’s collaboration aligns with World Day for Cultural Diversity for Dialogue and Development. World Day is a global event led by UNESCO and supported by the United Nations to promote peace and harmony, encouraging the recognition of differences with the goal of creating a harmonious world.

Chasing Breakthrough is produced by Avant-Garde Media and will premiere on the Discovery Channel on May 21 at 8.05 pm.

Hashtag: #DiscoveryTaiwan

The issuer is solely responsible for the content of this announcement.

About Discovery Channel

Discovery Channel is dedicated to creating the highest quality non-fiction content that informs and entertains its consumers about the world in all its wonder, diversity and amazement. The network, which is distributed to 88.3 million U.S. homes, can be seen in 224 countries and territories, offering a signature mix of compelling, high-end production values and vivid cinematography across genres including, science and technology, exploration, adventure, history and in-depth, behind-the-scenes glimpses at the people, places and organizations that shape and share our world.

Leading Hong Kong Law Firm Oldham, Li & Nie Pioneers Elder Law Practice to Serve the Community


HONG KONG SAR – Media OutReach Newswire – 16 May 2024 – Oldham, Li & Nie, a leading independent law firm, is pleased to announce that it will be the first Hong Kong law firm to establish a dedicated Elder Law Practice Group. This groundbreaking initiative marks a significant milestone in the legal landscape of the HKSAR. Through its longstanding commitment to its Pro Bono and Community Work Programme, Oldham, Li & Nie recognise the need to dedicate legal services to serve the needs of the aging population, their families and their service providers.

Gordon Oldham, Senior Partner at Oldham, Li & Nie, stated, “Elder Law is an established practice area in North America and much of Europe. We’re proud that our firm is at the forefront of pioneering this specialised practice area in Hong Kong. We are driven by a deep sense of dedication and integrity to help our clients navigate their legal challenges with dignity and peace of mind. We are committed to serving Hong Kong’s aging population.”

The co-head of the new practice, Helena Hu, brings with her over 20 years’ of experience in private and in-house legal practice, both in Hong Kong and Canada. Ms Hu said, “We are part of a Chinese society in the modern world and we remain true to our rich Confucian heritage, retaining our values of respect, humanity and benevolence. We have identified a significant gap in the market for legal services specifically tailored for clients facing the second half of their lives. Our new Elder Law practice has been set up to bridge this gap. Our Elder Law team has been carefully selected not just for their legal expertise and experience but for their dedication to provide clients with dignity, independence and peace of mind. We strive to provide holistic and pragmatic legal solutions to our golden agers in Hong Kong.”

Oldham, Li & Nie’s Elder Law practice will deliver a wide range of legal services, including but not limited to asset consolidation and disposal, estate planning, probate and trust administration, will drafting, powers of attorney, alongside handling disputes related to issues such as guardianship, inheritance and domicile.

The Elder Law team will also advise organisations serving the elderly, such as residential care homes and NGOs catering to the elderly, on a broad range of legal matters.
Hashtag: #OLN

The issuer is solely responsible for the content of this announcement.

About Oldham, Li & Nie

Oldham, Li & Nie is a highly awarded full-service Hong Kong law firm whose commitment to professional excellence has been the cornerstone of the firm since its establishment in 1987.

The firm currently has over 45 lawyers, with specialists in elder law, corporate and commercial, dispute resolution, employment, family, intellectual property, financial regulatory and tax law.

For more information about Oldham, Li & Nie’s Elder Law practice, please visit

CCD earns the Best Place to Work certification in Dominican Republic for 2024

SANTO DOMINGO, DOMINICAN REPUBLIC – Media OutReach Newswire – 15 May 2024 – CCD, a nearshore call center based in the Dominican Republic focused on providing exceptional patient experiences, announces its recognition and certification among the Best Places to Work in Dominican Republic for 2024.

This certification reflects the company’s commitment to making every effort to achieve best employer status in terms of working conditions, and to being attentive and caring to each and every one of its employees.

In a statement from Jean Frometa, Operations Director, he said “Reflecting on my time at CCD, it’s been nothing short of exceptional. Engaging in this openness exercise underscores the organization’s unwavering dedication to progress and cultivating an environment where individuals flourish and ideas flow freely. The recognition as one of the best places to work is not just a milestone but a launchpad for an incredible journey of growth ahead. I’m excited to be part of a team that’s committed to continuous improvement and fostering an atmosphere where everyone can thrive and contribute.”

Ricardo Garcia, Sr IT Projects & Assets Manager commented as well on this achievement “I’m so appreciative that we were recognized by ‘Best Places to Work’. I’m not surprised that we are officially certified, because CCD has proven to be a place of loyalty, growth, and a safe place to work, learn and innovate. This is proof of our continuous improvement and our successful results.”

The Best Places to Work certification is a highly coveted achievement that requires consistent and intentional dedication to the employee experience. By successfully earning this recognition, CCD stands out today as one of the top companies to work for, providing a great workplace environment for all its employees.

Every year, the program partners with many organizations in Dominican Republic, across different industries, to help them measure, benchmark, improve their HR practices and have access to the tools and expertise they need to deliver effective and sustainable change in their organizations.

For more information, please visit www.bestplacestoworkfor.org

Hashtag: #BestPlacesToWork



The issuer is solely responsible for the content of this announcement.

OCB Launches OMNI 4.0 App Offering Instant Modern Financial Services in Just 6 months with Backbase Engagement Banking Platform

OCB achieves technology implementation speed 3x faster than industry norm in its launch of a customer-centric omnichannel banking platform, setting a new benchmark in Vietnam


HO CHI MINH CITY, VIETNAM – Media OutReach Newswire – 15 May 2024 – Backbase, the global leader in Engagement Banking, Orient Commercial Joint Stock Bank (OCB), a top private bank in Vietnam, together with SmartOSC, the premium digital enabler, announce the successful go-live of the Backbase Engagement Banking Platform to launch OCB’s OMNI 4.0 app.

The OCB OMNI 4.0 version offers modern and convenient digital banking services such as account opening and management, money transfers, bill payments, card services, deposits, loans, and many other outstanding features. As a result of the platform’s industrialized composable capabilities and with close cooperation from Backbase’s local implementation partner SmartOSC, this project was operational within just six months, positioning OCB as a leading bank in the current digital transformation race.

OCB OMNI 4.0 has set a new standard in the digital banking sector with features that meet the immediate satisfaction, speed, and convenience needs of Vietnamese consumers. Featuring one-touch QR payment functionality, the application enables seamless transactions at thousands of different service points, from e-commerce to travel. Additionally, OCB OMNI 4.0 also brings advanced benefits such as rewarding referral codes, all supported by absolute security measures. The digital bank OCB OMNI 4.0 utilizes FIDO security technology, with robust encryption algorithms, multi-layer security to sign each transaction, rated as the safest today, combined with OCB’s readiness to supplement biometric authentication from July 1, 2024, pursuant to Decision 2345 of the SBV, aiming for security, ensuring safety, and optimizing protection of users’ financial information.

Moreover, OCB OMNI 4.0 incorporates modern technological applications to personalize the customer experience, from the interface to transaction support features. These include intuitive transaction recommendations that require only two clicks, a service experience space, and personalized offers for each customer. Additionally, customers can proactively divide large-value orders for quick transfers and categorize transactions to manage expenses, among many other conveniences.

To successfully deploy the OMNI 4.0 version within a short timeframe, OCB has accelerated the launch of Backbase Engagement Banking Platform solutions. This rapid deployment encompassed crucial features such as account management, term deposit handling, bill payments, card services, and loans, all finely tailored to suit the unique characteristics of the Vietnamese market.

During the initial deployment of OMNI 4.0, OCB migrated over 7,000 internal users to the new platform, receiving overwhelmingly positive feedback regarding its smoothness, speed, efficiency, and security.

“Vietnam is positioned as the fastest-growing digital economy in Southeast Asia. In this context, rapid market access to ensure high-quality interaction with customers is crucial for banks to gain priority in the market. I am delighted to officially launch OCB OMNI version 4.0 today with the efficient Backbase Engagement Banking Platform, maintaining our commitment to operational readiness within 6 months along with a range of modern financial services,” stated Mr. Pham Hong Hai, Acting Chief Executive Director of OCB, at the event.

“The industry standard for development and transition to an end-to-end omnichannel platform typically takes 18 months; however, with this platform, OCB not only achieves strong readiness for infrastructure modernization in a very short time but also distributes this project at less than half the industry standard cost. This accelerated implementation of OCB’s platform and app launch is assessed to have delivered time savings of 40%,” he added.

Mr. Pham Hong Hai further shared, “Flexible modernization is not an easy endeavor; we are proud to be at the forefront of the digital transformation strategy in the industry. In the upcoming period, OCB will demonstrate even stronger capabilities in constructing unique and customized journeys on the platform to enable timely and swift omnichannel penetration.”

“Having interacted with numerous banks in Vietnam and across Asia, we’ve observed that many are still grappling with the formulation of the right digital transformation strategies and remain in the planning stages. The agility and decisiveness of OCB’s management team in swiftly implementing the Backbase Engagement Banking Platform has positioned OCB ahead of many of its banking peers in fulfilling their commitment to customer-first and digital-first innovation as part of their digital transformation. The readiness of our local ecosystem is also a key factor in the success of OCB’s launch; our implementation partner, SmartOSC, has been diligent in adhering to the go-live timeline,” said Riddhi Dutta, Regional Vice President of Asia, Backbase.

“We are proud of our collaboration with Backbase, which enables us to bring our clients’ fintech dreams to life and set a new standard for go-live in Vietnam,” said Le Mai Anh, Vice Chairman of SmartOSC. “As an award-winning platform implementer, we look forward to continuing our partnership to further expand OCB OMNI’s second phase with new digital offerings and onboarding new customers.”

Statistical data reveal that by the end of 2023, OCB OMNI had seen a 61% increase in transactions compared to 2022 and a 25-fold increase compared to 2018. Transactions on OCB OMNI accounted for 95% of total transactions. Online savings have grown by 55% from 2022 to 2023. In addition, CASA balances increased by 44% in 2023 compared to 2022.

Hashtag: #Backbase

The issuer is solely responsible for the content of this announcement.

About Backbase

is on a mission to re-architect banking around the customer.

Backbase created the Backbase Engagement Banking Platform – a unified platform with the customer at the center, empowering banks to accelerate their digital transformation. From customer onboarding to servicing, loyalty, and loan origination, our single platform — open and frictionless, with ready-to-go apps — improves every aspect of the customer experience. Built from the ground up with the customer at the heart, our Engagement Banking Platform easily plugs into existing core banking systems and comes pre-integrated with the latest fintechs so financial institutions can innovate at scale.

Industry analysts Gartner, Omdia, and IDC continuously recognize Backbase’s category leadership position. Over 120 financial institutions around the world have embraced the Backbase Engagement Banking Platform. In APAC, the customers we serve include ABBANK, BDO Unibank, Bank of the Philippine Islands, China Bank, EastWest Bank, HDFC Bank, JudoBank, OCB, Techcombank, and TPBank.

Backbase is a privately funded fintech company, founded in 2003 in Amsterdam (Global HQ), with regional offices in Singapore (APAC HQ), Atlanta (Americas HQ), and operations in Australia, India, Indonesia, Malaysia, Philippines, Thailand, Vietnam, Latin America, and the UK.

About Orient Commercial Joint Stock Bank

was established on June 10, 1996. After more than 27 years of operation and development, OCB currently has more than 200 business units spread across all regions and key economic centers across the country. And considered as one of the banks with good and stable growth for many years.

OCB was recognized by the State Bank as one of the first three banks to complete risk management items according to Basel II international standards by the end of 2018. Moody’s Investors Service, one of the three credit rating agencies most prestigious in the world, increased Counterparty Risk Assessment (CRA) and Counterparty Risk Rating (CRR) to Ba3 in July 2019. This is the highest ranking level in Vietnam today.

Rated as the leading bank in Vietnam in terms of operational efficiency with sustainable growth potential, OCB has created confidence for Aozora Bank – one of the most efficient banks in Japan, to invest. 15% share capital of OCB and become a long-term strategic partner.

OCB has gradually risen to the top of the group of private banks in Vietnam according to three criteria: growth rate, safety and efficiency. Not only operational efficiency and profit, OCB always actively controls costs, synchronously implements cost-optimizing solutions to improve business efficiency, this is the Bank’s direction throughout. OCB’s equity has now increased by nearly 8 times, profit by more than 16 times and total assets by 12 times. Thereby, OCB became a joint stock commercial bank holding the No. 1 position in terms of profit growth rate and No. 3 in terms of return on capital efficiency.

About SmartOSC

With 18 years in operation, is an industry-leading digital transformation agency of 1000+ experts across countries including Vietnam, Australia, Singapore, Japan, Thailand, Indonesia, Korea, the US and the UK. Deep experience across most enterprise platforms and technology stacks has made SmartOSC a trusted partner for leading brands and financial institutions worldwide.

SmartOSC delivers top-tier solutions and caters to the unique requirements of banks and financial institutions worldwide by leveraging the latest technologies. This expertise enables banks to reduce operating costs, save implementation time, and ensure security with SmartOSC’s suite of offerings.

Recognized at the Global Economics Awards 2023 and the Digital CX Awards 2024, hosted by The Digital Banker, for its outstanding platform implementation capabilities, SmartOSC is committed to helping clients succeed in an ever-evolving world.

Rising Online Fraud in Southeast Asia Sparks Calls for Regional Cooperation

Rising Online Fraud in Southeast Asia Sparks Calls for Regional Cooperation
FILE: Indian scammers (photo credit: Techjuice)

Online fraud in Southeast Asia is continuously growing, to the point where syndicates are reported to be robbing an estimated amount of USD 64 billion each year worldwide. The widespread issue calls for cooperative regional measurements, according to a report from the United States Institute of Peace (USIP) released on 13 May.