TECHNOLOGY

Allot and Singtel Partner to offer Cybersecurity Services to Singtel’s Small and Medium Business Customers

Allot Ltd. | May 24, 2022

Allot and Singtel Partner
Allot Ltd. (NASDAQ: ALLT) (TASE: ALLT), a leading global provider of innovative network intelligence and security-as-a-service (SECaaS) solutions for communication service providers and enterprises, announced today that it is partnering with Singtel to offer cybersecurity services to Singtel’s Small and Medium Sized Business (SMB) customers.

Allot NetworkSecure is a network-based solution, offering zero-touch, clientless operation, requiring no application installation by the end customer. With NetworkSecure, CSPs can offer their customers protection from cybersecurity threats, including malware, viruses, phishing and ransomware and can enable customers to block inappropriate categories of web content for their employees. An easy-to-use interface provides branded alerts and reporting that help strengthen brand loyalty. NetworkSecure provides subscribers with a unified user experience on all devices for cybersecurity and content filtering, including configuration, reporting and alarm management. NetworkSecure makes it possible for customers to benefit from cybersecurity services with no IT expertise required. NetworkSecure can easily scale to millions of subscribers, making it an ideal solution for large and growing networks.

“Our CSP customers around the world understand the cybersecurity needs of SMBs to keep their businesses running smoothly We are very pleased to have Singtel as our strategic partner.”

-Weiming Li, VP Sales APAC for Allot

About Allot
Allot Ltd. (NASDAQ: ALLT, TASE: ALLT) is a provider of leading innovative network intelligence and security solutions for service providers and enterprises worldwide, enhancing value to their customers. Our solutions are deployed globally for network and application analytics, traffic control and shaping, network-based security services, and more. Allot’s multi-service platforms are deployed by over 500 mobile, fixed and cloud service providers and over 1000 enterprises. Our industry-leading network-based security as a service solution is already used by over 20 million subscribers Globally.

Spotlight

Have you been told that Business Ethics is a keystone for a trustworthy corporate responsibility? Probably have you also listen that must be on the same basis for all the companies worldwide. Well, this is a slippery road that will drive into serious management and negotiation problems in multinational corporations; and the reason is simple: the perception of what is ethical and what does not change across different cultures.

But allow me to develop the meaning of business ethics further, and you will understand why generalization must be avoided. Let's start by understanding ethics; if you look at the Greek root concept 'ethos,' which means character, Aristotle defines it as the individual's personality and its balance between good or bad, right or wrong. But who judges it? Indeed, it is not at the individual level. Let's hypothetically think that you have the power to extrapolate yourself to a far distant island where you are the only inhabitant, and you and yourself define the rules; who can contest you if you are a fair ruler or not? Nobody, you are alone! "Be ethical" can only be measured if you are in a group or belong to a society that can weigh and judge your actions. Cambridge dictionary defines ethos as the set of beliefs, ideas, actions, about the social behaviour and relationships of a person or a group.

If ethos, or be ethical, means I shall conduct myself accordingly to what the society I live in told me is the correct way to behave; consequently, the rules settled down already, and I need to follow them. The concept is more profound and involves other aspects of human life; still, thoroughly, you can follow me to what business ethics means: a set of rules and standards to mind when you are in a business environment, and guess what? This set was defined already by the organization you work for or the business environment where you exercise your professional activity.


Let's put an example to clarify what concerns us in this article. If a company establishes standards, such as not receiving gifts from suppliers, nor giving them to customers, to not generate bias, applying the same rule to all suppliers and customers worldwide may cause some relationship troubles. For some cultures, receiving or giving gifts in business environments is expected. For some cultures, this action means there is a genuine interest in building relationships. Different societies handle different concepts for what is ethically correct and what it is not, referring to gifts; in Anglo- Saxon cultures, for instance, countries like the US, UK, Australia, it is not expected to offer/receive gifts, the business relationship is quite transparent and straightforward: you have something interest, the price match, your company shows a good reputation, let's close the deal. In other cultures, like Asians, Arabs, and some parts of Latin America, gifts are expected because the business relationship is based on personal trust and care, not only in companies' achievements. For a Pakistani business person, probably after been expend several months building the relationship, at some point, the gift exchange will be expected and will be continuous.

Giving path to a more controversial subject, we all agree that corruption is wrong, is not desirable at any level, and it breaks company/people reputation generating millions in lost. But we cannot be naive to deny that in some cultures, corruption at different levels is expected, and rejecting it will make your deal or investment not advance further. For bad this reading makes you feel, it is a reality.

Let's parallel to a more typical action that all businessmen often face: 'tipping.' Have you ever thought that you are promoting a kind of corruption when you give a tip in a restaurant, hotel, or another service? If you feel this action looks like an altruistic act to recognize the good service you have received, you should not do it because the employee is getting paid to serve you in the best way possible. Giving a tip makes you buy the favor to receive better attention against others, and as high is the tip value, the better the service you are buying. Countries accept the tip as normal behavior in different levels; for instance, in the US, the tip is highly expected; in Brazil, it comes in the bill, you can pay it with a credit/debit card; in China, it is not expected at all. Please, do not take me wrong; you can tip if you wish, and it makes you feel good; it is proper to comment that the tip is the only income that some individuals will get in some developing countries.

However, my intention here is to point out that you will face corrupt behavior at some point in your business life, some more obvious than others, depending on the country/region you will go to do business. This behavior should not take you by surprise; contrary, you need to be prepared to face this naturally and try to understand the environment you are approaching. Like the example of the tips, for some countries, bribes, for instance, are expected; in others, it will come with the bill, and in others, it will not be expected at all.

Preparing yourself to face unpleasant situations will demand your full attention and preparation, especially if it goes against your business ethics policies. Here are some suggestions to help you identify the risks ahead and contour them. When you are developing customers, suppliers, business partners, the first step is to study the country/region you will prospect. Essential points to analyze are the economic performance, political system, and the recently developed SPI (Social Progress Index), which gives you an overview of how the society (in general) lives. Then, you shall go deep into the cultural distances; an excellent tool for it is the 6D model of National Culture developed by Prof. Geert Hofstede, which will give you some insights into the social behavior of the country you are analyzing.

Help yourself with some country reports available in several organizations; I suggest the 'Cube In' project sponsored by the European Commission. Finally, you need to know which points your business ethics policies are flexible and which ones are not. Remember, different cultures perceive ethical policies differently because, in culture, there is no right or wrong; there is just a different perception of the same reality. You shall need to find how comfortable you are to cede to meet your business partner halfway. What is your opinion? Have you faced some different behavior in other countries against your business ethics standards?


Other News
BUSINESS STRATEGY

BuildESG Unveils All-In-One ESG Solution for Asset Managers and Small Businesses to Accelerate ESG Adoption

BuildESG | June 20, 2022

BuildESG recently launched the BuildESG Hub, a holistic software and service solution to deploy, manage and scale ESG programs for small businesses, asset managers and their portfolios. The digital platform is a powerful tool for aligning ESG practices with core business strategies, offering a best-in-class digital user experience that provides a 360-degree view of ESG processes, and offers access to resources, expert guidance and a community forum. “The BuildESG Hub arose because we saw a gap in the market — we couldn’t find a simple solution that would help companies understand the basics of ESG, why it matters and how to establish a foundation of practical policies and processes that were applicable across sectors and company maturity levels, So, our team of ESG experts, investors and technologists built a platform that combines digital tools and ESG expertise that companies and investors need to set and meet their ESG goals.” -BuildESG Founder & CEO James Lindstrom The BuildESG Hub offers both free and paid packages. For those who need more guidance, we felt it was important to offer guidance alternatives in the form of a community forum and ESG experts under a flat fee versus the hourly model of most consulting firms. Lindstrom added. BuildESG members and teams at various membership tiers are able to. Deploy ESG Programs. For companies that do not yet have an ESG program, the platform includes basic education and a methodical building of a foundation of processes and policies. Deployment starts with access to introduction to ESG training content and user-friendly, digital assessments of a company’s existing policies and processes, resulting in a digital action list to establish a solid foundation for future ESG initiatives, such as quantitative data tracking. Access Support Resources. In order to support building a foundation, BuildESG provides guides, templates, due diligence and vendor assessments and a portfolio-wide content retention library. Connect with Peers through the BuildESG Forum. BuildESG’s platform drives connections and community among our members by helping share best practices, tools and intelligence. Additional paid features include: Hands-on Introductory and Annual ESG Training. Portfolio Analytics for Asset Managers. Premium Private Equity Industry Benchmarking Reports. Detailed Benchmarking Process-Level Data. Expert ESG Guidance from BuildESG Experts. Annual Company and Portfolio Reviews from BuildESG Experts About BuildESG BuildESG is a software and services ESG platform with 50+ ESG subject-matter experts at the helm. BuildESG’s solutions address the reporting, framework and ratings advisory, data collection and analytics needs of its Fortune 500 and global private equity firm clients. BuildESG serves clients across industries, with certain expertise in the financial services, private equity and energy and power sectors. BuildESG has offices in New York; Greenwich, Conn.; and Berkeley, Calif.To learn more, please contact info@buildesg.com or visit https://buildesg.com.

Read More

TECHNOLOGY

FIS Helps Small and Mid-Sized Financial Institutions Digitally Transform Through New Embedded Finance Capabilities in Partnership with Treasury Prime

FIS | May 16, 2022

The global economy’s digital transformation is accelerating, and community and regional banks are seeking ways to offer the most advanced digital capabilities and open new channels for distribution. To help these financial institutions meet the growing need for digitally-native banking experiences and grow their client base, FIS® (NYSE: FIS) has announced a new embedded finance offering developed in partnership with Treasury Prime. Embedded finance is a key industry trend that enables any company to become a fintech company by embedding financial services capabilities such as banking, credit, payments, insurance and investments in their digital channels. By making it easier for small and mid-size financial institutions to offer enhanced digital banking services to their customers, FIS’ embedded finance offering can empower them to compete in new ways. Through this innovative application programming interface (APIs)-based offering, FIS’ banking clients and the businesses they serve will have new ways to manage deposits, accounts payables and other critical banking processes digitally and remotely. Embedded finance can also help financial institutions create new revenue streams by expanding their client base outside their traditionally local footprint. Embedded finance is a growing trend in the market because it allows businesses to bring innovative ideas quickly to market by combining financial services with user experiences right at point of need, said Kelly Beatty, Head of Payments at FIS. Embedded finance also extends the seamless convenience of in-app purchases—like for a ride-share—to commercial uses such as lending, paying bills, contractors, and insurance. These are all experiences centered around the needs of customers. By integrating financial services into business software, those consumer expectations are met in new channels and extend the vast reach of financial services. “The banks that take advantage of embedded services now have the opportunity to become the foundation for a new generation of financial institutions, Banks are starting to see the potential revenue streams embedded finance promises, and we’re excited to be working with FIS to help these clients with the processes, security and integration to deploy these banking services rapidly.” -Chris Dean, co-founder and CEO at Treasury Prime. The first financial institution to tap into FIS’ embedded finance services is Grasshopper, a leading-edge, digital commercial bank. Grasshopper partnered with HUMBL, a Web 3 blockchain company with both consumer and commercial divisions, to utilize their bank services, powered by FIS and Treasury Prime, across its user base. “We are very excited to partner with FIS and Treasury Prime on this large and growing embedded finance opportunity, Our vision has been clear from the start: we wanted to better serve the needs of fintechs, small and medium-sized businesses, and the venture community. This BaaS platform and sophisticated set of APIs allows us to leverage technology and provide an enhanced banking experience for our clients.” -Chris Tremont, Chief Digital Officer at Grasshopper. About FIS FIS is a leading provider of technology solutions for financial institutions and businesses of all sizes and across any industry globally. We enable the movement of commerce by unlocking the financial technology that powers the world’s economy. Our employees are dedicated to advancing the way the world pays, banks and invests through our trusted innovation, system performance and flexible architecture. We help our clients use technology in innovative ways to solve business-critical challenges and deliver superior experiences for their customers. Headquartered in Jacksonville, Florida, FIS is a member of the Fortune 500® and the Standard & Poor’s 500® Index. To learn more, visit www.fisglobal.com. Follow FIS on Facebook, LinkedIn and Twitter (@FISGlobal).

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MANAGEMENT

Nuula prioritizes small business owners' wellness with new app features

Nuula | May 18, 2022

Nuula, a fintech company focused on providing small businesses the tools and the capital they need to succeed, announced an initiative to help small business owners improve their overall mental and physical well-being. In partnership with Walnut, Nuula's new wellness feature gives small business owners access to life insurance, plus meditation programs and online fitness classes, all for as little as $9/month. Nuula's focus on the entrepreneur's well-being, in addition to business performance, was driven by insights into how personal stress is affecting small business owners, especially with the pressures of the COVID-19 pandemic. A recent Capital One survey found that 45% of small business owners report that running a business during the pandemic has had a negative impact on their mental well-being, and 42% say they are currently experiencing burnout or have experienced it within the past month. "For a small business owner and entrepreneur, work and life are inextricably linked, which is why it is so important to provide support for both, Nuula is taking a new approach to small business financial services by focusing not only on the needs of the business but also on the needs of the small business owner." -Mark Ruddock, CEO at Nuula. Nuula's new health and wellness feature offers access to guided meditation, sleep guides, and mental focus programs through Headspace Plus and online fitness programs through ClassPass Digital. The programs are paired with $10k-$50k of Life Insurance to give small business owners peace of mind. The new feature sits atop of Nuula's existing portfolio of small business tools, including financial health tracking, cash-flow forecasting, 24/7 credit monitoring, as well as updates on rating and reviews, all available in the Nuula app. "Nuula is taking a forward-looking approach to the needs of small businesses, by embedding tools that match the holistic needs of its customers, Mental and physical health are paramount to entrepreneurial success. Walnut is proud to help Nuula empower business owners by allowing them to easily access health and wellness offerings within Nuula's existing ecosystem of critical financial tools." -Derek Szeto, Co-founder and CEO of Walnut Starting today, Nuula users can sign up for a health and wellness membership that includes group life insurance and subscriptions from ClassPass and Headspace. About Nuula Nuula is building the future of small business performance. Launched in 2021, Nuula is a financial services and technology company focused on serving the small to medium-sized business community. Nuula provides real-time data and analytics, allowing businesses to manage their finances, monitor their credit ratings and user reviews, and more. Nuula is an advocate of financial inclusivity and a proud partner to Kiva to create economic and social good. To learn more about Nuula, visit www.nuula.com About Walnut Founded in 2020, Walnut is a Canadian and US insurtech that has built infrastructure to enable multiple lines of embedded insurance for brokers, employers, and financial services coupled with value added benefits from international brands. Walnut's platform makes insurance simple and convenient – creating greater accessibility for underserved audiences. Learn more about Walnut at www.gowalnut.com/businesses.

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TECHNOLOGY,FINANCE

Finli Raises $6M to Bring Mobile-First Payment Management to Service-Based Businesses

Finli | July 11, 2022

Finli, a payment management platform built for service-based small businesses in the US, has announced the close of its $6 million Seed fundraising round, led by the Urban Innovation Fund. Motley Fool Ventures, M13, Alumni Ventures, and all existing investors also participated in the round. The new injection of funds will be used to expand Finli's team and business banking capabilities, moving towards becoming a holistic financial services solution. According to the U.S. Small Business Administration Office of Advocacy, 99.9% of US businesses are small businesses. Existing banking and administrative platforms have not built their solutions with the small business of today in mind, many of whom are utilizing five or more services to manage client billing and payments. "'Our mission is to provide underserved businesses with the financial tools that they need to manage and grow their businesses without taking on hefty fees or complicated workflows. By meeting them where they are, we are giving them back time and money, We intentionally built Finli to solve cumbersome business challenges so that owners and operators can focus on growing their business and not chasing payments." -Lori Shao, CEO of Finli Finli's platform is thoughtfully designed for businesses to manage all aspects of invoicing and payments communication, allowing them to use familiar tools and customers to easily pay outstanding invoices through their mobile devices. "Customers love Finli because it is so easy to use. The Finli team is totally dedicated to lifting up small businesses and owner-operators – and it shows, Many service providers are fearful of big tech taking advantage of them with hidden costs and complex integrations. Finli allows small businesses to regain control – delighting their customers and making more money in the process." -Clara Brenner, Co-Founder and Managing Partner at Urban Innovation Fund Finli's platform allows small businesses to invoice on the go: sending invoices, looking up customer information, creating recurring invoices and checking on payment status from a phone. New users are able to set up an account and issue an invoice in under one minute through their mobile device, desktop or any other device. There are zero merchant transaction fees for business bank-to-bank transfers. Cash and check payments can be reconciled through Finli's platform and businesses can manage collections through automated emails & text messages. Finli's seed round brings total funding to $9.5 million. Existing investors include Mac Venture Capital, Slauson and Co, Core Innovation Capital, Techstars and Muse Capital. For more SMB Resources, visit Finli's Finsider blog. About Finli Finli is on a mission to financially lift local communities. An all-in-one payment management platform built for service-based small businesses in the US, Finli allows businesses to manage invoices, payments and customer communication in a single platform. Join the thousands of businesses who have saved hours this week with Finli, visit www.finli.com. And for more business resources, visit Finli's Finsider blog

Read More

Spotlight

Have you been told that Business Ethics is a keystone for a trustworthy corporate responsibility? Probably have you also listen that must be on the same basis for all the companies worldwide. Well, this is a slippery road that will drive into serious management and negotiation problems in multinational corporations; and the reason is simple: the perception of what is ethical and what does not change across different cultures.

But allow me to develop the meaning of business ethics further, and you will understand why generalization must be avoided. Let's start by understanding ethics; if you look at the Greek root concept 'ethos,' which means character, Aristotle defines it as the individual's personality and its balance between good or bad, right or wrong. But who judges it? Indeed, it is not at the individual level. Let's hypothetically think that you have the power to extrapolate yourself to a far distant island where you are the only inhabitant, and you and yourself define the rules; who can contest you if you are a fair ruler or not? Nobody, you are alone! "Be ethical" can only be measured if you are in a group or belong to a society that can weigh and judge your actions. Cambridge dictionary defines ethos as the set of beliefs, ideas, actions, about the social behaviour and relationships of a person or a group.

If ethos, or be ethical, means I shall conduct myself accordingly to what the society I live in told me is the correct way to behave; consequently, the rules settled down already, and I need to follow them. The concept is more profound and involves other aspects of human life; still, thoroughly, you can follow me to what business ethics means: a set of rules and standards to mind when you are in a business environment, and guess what? This set was defined already by the organization you work for or the business environment where you exercise your professional activity.


Let's put an example to clarify what concerns us in this article. If a company establishes standards, such as not receiving gifts from suppliers, nor giving them to customers, to not generate bias, applying the same rule to all suppliers and customers worldwide may cause some relationship troubles. For some cultures, receiving or giving gifts in business environments is expected. For some cultures, this action means there is a genuine interest in building relationships. Different societies handle different concepts for what is ethically correct and what it is not, referring to gifts; in Anglo- Saxon cultures, for instance, countries like the US, UK, Australia, it is not expected to offer/receive gifts, the business relationship is quite transparent and straightforward: you have something interest, the price match, your company shows a good reputation, let's close the deal. In other cultures, like Asians, Arabs, and some parts of Latin America, gifts are expected because the business relationship is based on personal trust and care, not only in companies' achievements. For a Pakistani business person, probably after been expend several months building the relationship, at some point, the gift exchange will be expected and will be continuous.

Giving path to a more controversial subject, we all agree that corruption is wrong, is not desirable at any level, and it breaks company/people reputation generating millions in lost. But we cannot be naive to deny that in some cultures, corruption at different levels is expected, and rejecting it will make your deal or investment not advance further. For bad this reading makes you feel, it is a reality.

Let's parallel to a more typical action that all businessmen often face: 'tipping.' Have you ever thought that you are promoting a kind of corruption when you give a tip in a restaurant, hotel, or another service? If you feel this action looks like an altruistic act to recognize the good service you have received, you should not do it because the employee is getting paid to serve you in the best way possible. Giving a tip makes you buy the favor to receive better attention against others, and as high is the tip value, the better the service you are buying. Countries accept the tip as normal behavior in different levels; for instance, in the US, the tip is highly expected; in Brazil, it comes in the bill, you can pay it with a credit/debit card; in China, it is not expected at all. Please, do not take me wrong; you can tip if you wish, and it makes you feel good; it is proper to comment that the tip is the only income that some individuals will get in some developing countries.

However, my intention here is to point out that you will face corrupt behavior at some point in your business life, some more obvious than others, depending on the country/region you will go to do business. This behavior should not take you by surprise; contrary, you need to be prepared to face this naturally and try to understand the environment you are approaching. Like the example of the tips, for some countries, bribes, for instance, are expected; in others, it will come with the bill, and in others, it will not be expected at all.

Preparing yourself to face unpleasant situations will demand your full attention and preparation, especially if it goes against your business ethics policies. Here are some suggestions to help you identify the risks ahead and contour them. When you are developing customers, suppliers, business partners, the first step is to study the country/region you will prospect. Essential points to analyze are the economic performance, political system, and the recently developed SPI (Social Progress Index), which gives you an overview of how the society (in general) lives. Then, you shall go deep into the cultural distances; an excellent tool for it is the 6D model of National Culture developed by Prof. Geert Hofstede, which will give you some insights into the social behavior of the country you are analyzing.

Help yourself with some country reports available in several organizations; I suggest the 'Cube In' project sponsored by the European Commission. Finally, you need to know which points your business ethics policies are flexible and which ones are not. Remember, different cultures perceive ethical policies differently because, in culture, there is no right or wrong; there is just a different perception of the same reality. You shall need to find how comfortable you are to cede to meet your business partner halfway. What is your opinion? Have you faced some different behavior in other countries against your business ethics standards?

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