Financial services organizations at forefront of global digital transformation push

 

Financial Services edition of F5’s 7th annual State of Application Strategy (SOAS) report sheds new light on sector’s progress and ambitions

 

 

Dubai, UAE. July 26, 2021. Financial services organizations are the most bullish of all sectors when it comes to digital transformation, according to new research by F5.

 

An industry-specific cut of the 2021 State of Application Strategy Report found that 100% of surveyed financial services organizations are working on digital transformation efforts, up from 84% last year.

 

Furthermore, nearly 75% are also deeply into the automation of operational processes, and most are looking toward AI-assisted business. At the same time, telemetry is growing in importance, as decision-makers seek increasingly rich, actionable data insights.

“COVID-19 has vastly accelerated a global digital transformation toward a more data-driven future,” said Lori MacVittie, Principal Technical Evangelist, Office of the CTO at F5.

“Today, we’re seeing many more decision-makers from the financial services realm embracing the public cloud and SaaS, rapidly ramping up AI operations (AIOps), and seeking application security and delivery technologies that are easy to deploy and provide data for decision-making.”

Application modernization marks digital expansion

F5’s SOAS analysis revealed that finanial services organizations stand out as the leaders in digital expansion, with a focus on business process automation, orchestration, and the creation of more seamless digital experiences. A full 70% of financial services organizations are at this level, which is the most of any industry. Although already in a leadership position, financial services organizations also reported a 13% jump in automation and orchestration efforts, as well as a notable 40% increase in application modernization, compared to last year.

Significantly, more than four of five financial services respondents (83%) said that they were modernizing applications, particularly those associated with IT service desk and customer service functions, with finance close behind.

Nearly three-quarters (71%) of respondents are also using API technology to modernize apps, which is s higher proportion than other industries. At the same time, financial services organizations published considerably more APIs than any other vertical, partly driven by the movement toward open banking. Developments of this nature saw the percentage of financial services respondents reporting volumes of over 10 million API calls per month increase from 10% in 2020 to 48% in 2021.

As a result, financial services organizations are more likely to have implemented an API security solution. More than two-thirds of respondents (69%) reported having a solution in place or are planning to implement one within the year. 83% - again the highest of any surveyed industry – have, or will soon have, an API gateway in place.

In addition, financial services organizations handling more than 10 million API calls per month are more than twice as likely to have deployed an API security solution (82%) as those handling fewer than 1 million API calls per month (32%). Deployment momentum is expected to accelerate as modernization proceeds.

Complex Multi-Cloud Strategies Have Become the Norm

According to the SOAS findings, 21% of financial services respondents expect to increase their public cloud deployments, compared to just 15% of other respondents.

The vast majority will continue to manage both traditional and modern applications and architectures. 87% of survey respondents say they juggle both, which is an 11-point jump compared to last year. Indeed, most financial services organizations are operating more architectures than ever, with nearly half managing five different architectures – a full 30 points higher than in 2020.

The SOAS report also found that 9% of financial services organizations are already hosting application security and delivery technology at the edge. 66%  are planning edge deployments within the next year, although the figure for all other industries is slightly higher at 76%. Security and related compliance issues, which can involve assets the organization doesn’t control, are likely contributors to such hesitancy. SOAS concludes that, as edge programming develops, financial services organizations are more likely to embrace the technology with more purpose.

Application security and delivery technologies must apply everywhere

Approximately two-thirds of financial services respondents apply response time, uptime, and service reliability SLAs to the components that modernize applications (such as APIs). Service reliability, in particular, aligns with business outcomes, and 95% of financial services organizations believe data from their application delivery and security solutions is “important” to keep IT aligned with business outcomes.

Three-quarters of financial services organizations (76%) now view protecting customer data as a primary benefit of application security and delivery solutions, which explains a relative reluctance to host those technologies in the cloud. Only 57% currently do so, compared to 70% of all other respondents.

The multi-cloud availability of application security and delivery solutions is clearly a top priority in the financial services industry, as 92% report that application security solutions are equally important to deploy in the cloud and in on-premises data centers.

“The greater importance financial services places on multi-cloud availability probably reflects both the growing percentage of organizations managing multiple architectures and the desire to simplify management of critical applications across environments,” MacVittie explained.

Financial Services Organizations Have Data but Lack Insights

While the financial services industry is moving at pace in most areas, only 5% of respondents indicated that their IT employees have all the automation and orchestration skills required. At the time of the report’s publication, 98% said they are missing insights they need, particularly for application issues, performance degradations, and possible attacks.

The SOAS report posits that, for most financial services organizations, there is a growing need for more telemetry and the tools needed to put it to use, as well as cultural changes across business units using the insights for strategic decisions.

 

AI deployment will improve adaptability

Elsewhere in the report, a full 81% of financial services organizations revealed that they are using AI, or are planning to by the end of 2022.

Despite this, and although a majority of organizations feel they have the toolsets they need, nearly 50% see toolset integration and a skills deficit as enduring challenges. Consequently, 48% of financial services organizations say they treat infrastructure as code and, those that do, are twice as likely to deploy it more frequently, even when using automation. They are also four times more likely to have fully automated application pipelines, and twice as likely to use them to deploy half of their application portfolios.

Next steps

“Financial services organizations have greatly accelerated their digital transformations in the past year,” added MacVittie.

“To make further progress toward AI-enabled business, they need an application strategy that includes application security and delivery technology solutions that follow the apps across multiple environments, including the edge. Expect to see the management of multiple architectures continue as the norm, even as modernization proceeds, which makes multi-cloud availability ever more critical. Only easy-to-use, multi-cloud solutions can deliver the telemetry needed to uncover insights and enable the AIOps that will deliver on the promise of digital transformation with improved customer experiences and stronger bottom-line performances.”

دراسة جديدة: 70% من مؤسسات الخدمات المالية هي مؤسسات رائدة في جهود التوسع والتطور الرقمي

 

100% من مؤسسات الخدمات المالية التي شملتها الدراسة تدعم حالياً جهود التحول الرقمي لديها

 

دبي، الإمارات العربية المتحدة، 26 يوليو 2021: أشار تقرير استراتيجية حالة التطبيقات السنوي السابع لشركة F5 إلى أنّ قطاع الخدمات المالية هو الأكثر تفاؤلاً حيال عمليات التحول الرقمي من بين جميع القطاعات الصناعية الأخرى.

 

وخلص التقرير إلى أن 100% من مؤسسات الخدمات المالية التي شملتها الدراسة تدعم حالياً جهود التحول الرقمي لديها، مقارنة مع 84% للعام الماضي.

 

كما أفاد التقرير أن ما يقارب من 75% من الشركات تعمل حالياً بشكل وثيق على أتمتة العمليات التشغيلية، وأن معظم هذه الشركات تتطلع للاستفادة من الأعمال القائمة على الذكاء الاصطناعي. وفي الوقت ذاته، باتت عمليات "القياس عن بعد" تحظى باهتمام متزايد في ظل السعي الحثيث لصناع القرار للاستفادة من الرؤى الغنية للبيانات القابلة للتحليل.

 

وقالت لوري ماكفيتي، الخبيرة التقنية الأولى لدى شركة F5: "لقد أسهمت جائحة كوفيد – 19 بتسريع عمليات التحول الرقمي العالمية وتمركزها حول المستقبل القائم على البيانات". وأضافت: "بتنا نرى اليوم قيام المزيد من صانعي القرار في مجال الخدمات المالية بتبني تقنيات السحابة العامة والبرمجيات المقدمة كخدمة (SaaS)، ويبذلون المزيد من الجهود للاستفادة من العمليات التشغيلية القائمة على الذكاء الاصطناعي (AIOps)، ويسعون لاعتماد أفضل تقنيات أمن وحلول تسليم التطبيقات التي يمكن تنفيذها بسهولة لتزويدهم بالبيانات والرؤى التي تمكنهم من اتخاذ القرارات المستنيرة".

 

وباتت مسألة توفير أمن التطبيقات وحلول تسليم التطبيقات على السحابة المتعددة تمثل أولوية قصوى لصناعة الخدمات المالية؛ حيث أكد 92% من المشاركين في الدراسة أهمية نشر حلول أمن التطبيقات في السحابة وفي مراكز البيانات المادية.

 

وكشفت تحليلات شركة F5 الخاصة بتقرير استراتيجية حالة التطبيقات أن مؤسسات الخدمات المالية برزت كمؤسسات رائدة في عمليات التوسع الرقمي، إذ تركز هذه المؤسسات على أتمتة عمليات الأعمال، والتنسيق، بهدف تزويد عملائها بتجارب رقمية أكثر سهولة وراحة. وأفاد التقرير أن 70% من مؤسسات الخدمات المالية تقع ضمن هذه الفئة، وهي النسبة الأعلى مقارنة مع القطاعات الصناعية الأخرى. كما سجلت مؤسسات الخدمات المالية أيضاً ارتفاعاً بنسبة 13% في جهود الأتمتة والتنسيق، وشهدت زيادة كبيرة بنسبة 40% في جهود تحديث التطبيقات، مقارنة بالعام الماضي.

 

كما أكد أكثر من أربعة من أصل خمسة مشاركين في الدراسة من المتخصصين في مجال الخدمات المالية (83%) قيامهم بتحديث التطبيقات، لا سيما تلك المرتبطة بمكتب دعم خدمات تكنولوجيا المعلومات، ووظائف خدمة العملاء.

 

ووفقاً لنتائج تقرير استراتيجية حالة التطبيقات، توقع 21% من مؤسسات الخدمات المالية المشاركة زيادة عمليات نشر السحابة العامة لديهم، مقارنة مع 15% من باقي المشاركين في الدراسة.

 

SABINA BOZIC SHARES THE BENEFITS OF COLLAGEN SUPPLEMENTS FOR MEN

 

Collagen Shot Middle East ambassador says the power supplement is not just for women 

 

From stronger bones and muscles to boosting energy levels, there are a wealth of benefits to adding Collagen to our diets, both men and women.  

 

The most abundant protein in the human body, Collagen accounts for roughly one third of the body’s protein composition.  

 

One of the essential nutrients, it is a vital building block for the body, inside and out,  

Key for healthy bones, skin, muscles, tendons, and ligaments. Collagen is also found in blood vessels, cornea, and teeth.  

 

“For both men and women, this is so critical to our body through all stages of life,” said Sabina Bozic, brand ambassador for European-based Gaia Naturelle, which produces -one stop solution, ready to drink and super concentrated Collagen shot, with hydrolyzed fish collagen, vitamins and minerals.  

 

“Because Collagen contains the amino acid glycine, and glycine is important in forming muscle tissue, Collagen helps improve muscle mass, which in turn helps boost the metabolism. Whether we are male or female, these are really great benefits we all want.”  

Glycine also helps slow ageing by supporting posture, bone health, digestion, and even the central nervous system.

 

Gaia Naturelle recently launched its range of dietary supplements in the GCC with its health and beauty boosting signature product, Collagen Shot, which boasts a combination of ingredients including Collagen, MSM (mineral), Hyaluronic Acid and Vitamins C, E, B6, Biotin and Zinc. 

 

The water-based supplement is created using the latest technology and high-quality concentrated active ingredients. 

 

“Especially for those of us who lead active lives and spend time in the gym, this supplement is hugely beneficial to replace the nutrients we lose, especially as we age, when we lose muscle mass and bone density. Collagen accounts for 10% of muscle tissue so this is a great addition to our diets,” added Sabina.   

 

Supported by science, studies have found that Collagen consumption can boost muscle mass, improve strength, and encourage creatine synthesis, even in frail men. 

 

From as young as 20-years-old, the body starts naturally decreasing the production of Collagen, which is around 1.5 per cent per year, so supplementation can help prevent ageing as well as protecting joints and bones. 

 

Certified by the Dubai Health Authority, the Collagen Shot is in liquid format allowing for more effective absorption by the body, aided by the product’s active ingredient, MSM. This mineral has been found to help with complaints including fatigue, allergies, painful joints, muscle degeneration and has strong natural anti-inflammatory properties. 

 

The arginine and glutamine in Collagen also repair skin, heal wounds, improve energy by fueling the body, and aid in proper development and growth.

 

Not only is Collagen a great addition to help support the physical body but it is also great as a grooming companion. As Collagen is among the proteins that make up hair formation, supplementation can improve damaged hair follicles and in turn may reduce thinning, and potentially slow greying. 

 

“It's a fallacy that such supplements are only for women as there are so many great benefits to all of us, young or old,” said Sabina.  

 

Collagen Shot costs AED 280 and is available from https://collagenshotme.com/shop/   

Collagen Shot by Gaia Naturelle is giving away 15% off on their GCC website - you can use the promo code 15OFF.  

Solvay launches new shortstop inhibitor solution for safer acrylic monomer transportation & storage in UAE

 

Formulated with non-toxic solvent, solution to stop runaway polymerization effectively and economically

 

UAE, July 26, 2021

Solvay, a global leader in materials, solutions and chemicals, announced the launch of  Phenothiazine LVT™ 2330, a next-generation shortstop inhibitor solution in UAE. The solution is designed to offer protection against runaway polymerization of acrylic and methacrylic acids, esters and other monomers in bulk storage facilities, transportation tanks and containers.

 

A runaway polymerization is potentially hazardous due to the reaction becoming uncontrollable and the heat that it produces may lead to a fire or an explosion or rupture of closed storage and transport containers. This uncontrolled polymerization can place people, property and the environment at significant risk.

 

“Solvay’s new Phenothiazine (PTZ) LVT 2330 comprises a 30 per cent active liquid solution of PTZ dissolved into Rhodiasolv Polarclean HSP¹ solvent, part of Solvay’s line of powerful, green solvents for industrial applications,” said Dave Vanzin, Technical Service & Development Manager at Solvay. “It was developed as an alternative to the use of N-Methyl-2-pyrrolidone (NMP) widely employed in the United States and the European Union as a solvent for shortstop inhibitors but considered a substance of very high concern (SVHC) under REACH regulations.”

 

Solvay’s Phenothiazine LVT™ 2330 is safer to handle than NMP-containing solutions and has a lower freezing point, which is highly advantageous for facilities and transport in colder climates.  Also, the high active PTZ concentration of Phenothiazine LVT 2330 permits deployment and storage of the efficient and economic shortstop in both large and small installations.

 

“We see a great market potential for this pioneering shortstop inhibitor with a non-toxic and non-volatile solvent for the acrylics markets of different regions across the world - including the Middle East - where chemical toxicity is of increasing concern to the industry and authorities,” said Lars Fischer, Worldwide Technical Market Manager at Solvay. “However, Asia offers the greatest potential where shortstop inhibitors were not standard and have only recently been more widely accepted and used to help reduce the risk of accidents.”

 

™ Phenothiazine LVT is a trademark of Solvay

® Rhodiasolv is a registered trademark of Solvay

¹ Hansen Solubility Parameters

BELUGA RESTAURANT AND LOUNGE INTRODUCES EXCITING NEW DISHES TO THE MENU to

 

The enhanced menu offers the restaurant an indulgent revamp 

 

Beluga Restaurant and Lounge located at Mandarin Oriental Jumeira is introducing a series of new dishes to its lavish à la carte menu. 

Headlining the main course is the decadent Seafood Black Burger where tiger prawns and shrimps are delicately topped with a dollop of fine caviar and the Seafood Platter that is a heaven for seafood lovers as it consists of tiger prawns, shrimps, scallops, salmon, mussels paired with caviar sauce. 

Highlights of the delightful new creations also include caviar brioche, a French toast paired with cream, edible flowers and 20 grams of house caviar, torch flamed smoked salmon topped with 100gms of house caviar, salmon rillettes salad which comprises of steamed and smoked salmon, capers, shallot and cream sauce topped with 20 grams house caviar, grilled tiger prawns and Asian inspired smoked duck roll where succulent duck meat and crab are adorned with 20 grams of caviar.

The Chef has also added some more enjoyable dishes to their existing pizza menu such as the Seafood pizza which is loaded with shrimps, clamps, scallop, tomato sauce and rocket leaves, and the spinach pizza in white sauce cooked in the original Izzo Forni Scugnizzo Napoletano oven. 

The restaurant also offers an extensive beverage and desserts menu packed with flavour and care. 

The new dining experience at Beluga Restaurant and Lounge is sure tantalise your tastebuds and entice all your senses. 

With a prime location on Jumeirah Beach Road and minutes from the city’s key business and leisure hubs, Beluga Restaurant and Lounge offers an ideal setting for any occasion. 

Contact: For more information and reservations, please call +971 4 340 8882 or email at reservations@belugabar.com 

University Hospital Sharjah receives JCI for Healthcare Quality accreditation for third time

 

 

Celebrating 10 years of excellence and achievements, UHS highlights commitment to expand centres of excellence and provide finest & most innovative healthcare services

 

July 26, 2021 – Marking the culmination of its celebration of its 10-year march towards excellence and achievement, the University Hospital Sharjah (UHS) has obtained for the third time an accreditation given by the Joint Commission International (JCI) for Healthcare Quality. It is a milestone that can further strengthen the UHS’s leading status as a provider of innovative and world-class medical services.

The new global accreditation reflects the hospital’s decade-long success under the guidance of H.H. Sheikh Dr. Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, who has directed the delivery of top-notch healthcare solutions backed by the best medical expertise and the latest technologies in the emirate.

The UHS’s several centers of excellence has been vital to helping enhance Sharjah’s healthcare system. Its Himchan UHS Spine and Joint Center, for instance, has so far performed about 1,000 surgeries and is currently managing more than 24,000 physiotherapy cases. The center is the result of the collaboration between UHS and Himchan Hospital, the Korean Center for Orthopaedics, Joints and Physiotherapy. Another is UHS’s Sharjah Fertility Center which has already helped more than 3,500 families who underwent fertility treatments and genetic testing.

Since 2011, the hospital has successfully expanded its portfolio of healthcare services across various medical specialties. It has also recorded remarkable accomplishments over the past 10 years, which included treating more than 1 million patients, performing over 300,000 surgeries and caring for 7,000 new-borns.

 

H.E. Abdullah Ali Al Mahyan, Chairman of Sharjah Health Authority (SHA) and Chairman of Board of Trustees at UHS, said: “We are proud of UHS’s 10-year march towards excellence and leadership. Through the years, it has been providing an integrated portfolio of high-quality healthcare services. This is in line with the vision of H.H. Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, to position Sharjah as a destination of choice among medical tourists and a leading healthcare hub that offers the global community with services according to the highest international standards. The JCI re-accreditation of the UHS proves the success of its pioneering efforts to develop and diversify its services as well as raise its local and regional competitiveness.”

He added: “We will continue to implement well-studied mechanisms to align our services with the global standards and fulfil our societal responsibilities and commitment to Sharjah and the UAE. Undoubtedly, our success in handling the COVID-19 pandemic, supported by our wise leadership, is a strong impetus for us to continuously provide new mechanisms and innovative services such as telemedicine and home delivery of medicines. Further, we will always strive to serve the community in cooperation with our partners from the government and private sectors.”

“Our collaboration with Sharjah Sports Club, for example, has enabled us to bring to our communities the expertise of our sports medicine physicians, while our partnership with Air Arabia has effectively allowed us to help treat employees working in the aviation industry. Looking ahead, we will establish more medical centers of excellence, as well as expand the capacity of our departments, especially our dialysis unit, and improve the quality of our services. Our plans are in line with our top priority of bringing happiness to all our patients.”

Ali Obaid Al Ali, Chief Executive Director and Member of the Board of Trustees, UHS, said: “Over the past 10 years, the UHS has cemented its position as a leading entity that provides excellent healthcare services and boasts of modern medical expertise and advanced technologies and facilities. We are operating at our maximum capacity, offering our various therapeutic, surgical and intensive care specialties. We are proud of our hospital’s numerous achievements, including treating more than 1 million patients, performing over 300,000 surgeries, and managing various centers of excellence to address the medical needs of different segments of our society. Our success drives us to provide the best services, increase our clinical capacity and support our medical and nursing staff. Our staff have performed excellently during this pandemic, treating patients suffering from respiratory illnesses and other medical conditions  and those in need of intensive care.”

Al Ali added: “We will continue to enhance our services delivered by our doctors who have been trained and gained experience in different European nations, the United States and Canada, among others. We also aim to attract more highly trained Arab medical professionals who can help communicate with our Arab patients. At UHS, we also provide comprehensive insurance coverage in partnership with leading insurance companies in the UAE so that we can serve wider segments of our communities.”

H.H. Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah led the opening of UHS in 2011. It was established to further add value to the health services being offered at the University City and in Sharjah as a whole. The hospital’s offered specialties include internal medicine, surgery, paediatrics, gynaecology and advanced breast cancer treatment. Its outpatient and emergency clinics, laboratories, check-up facilities, operation rooms, intensive care units, lecture rooms, and many more are integrated with modern technologies as well.