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The Transformative Impact of AI and Cookieless Solutions on Digital Advertising

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The digital advertising landscape is undergoing a significant transformation with the rise of AI and cookieless solutions. In response to Google’s decision to block third-party cookies for millions of Chrome users and the constraints posed by reduced marketing budgets amid the cost-of-living crisis, marketers are increasingly turning to artificial intelligence and cookieless strategies. Notably, Crimtan, a prominent expert in cookieless solutions and programmatic advertising, is offering essential guidance on navigating this dynamic terrain and optimising cost savings.

There is a common misconception that AI consumes excessive processing power; however, AI not only minimises power consumption but significantly enhances efficiency in the long term. AI considers regional and channel-specific nuances, optimises personalised inputs such as geolocation and domains and reduces load times by 80%, a daily decrease of 40 kilograms of CO2 emissions. Not only does this showcase the potential for AI to create a sustainable and environmentally conscious advertising landscape, but this also ensures that resources are utilised more efficiently, reducing wasted efforts and associated costs.

The marketing industry also faces new challenges with Google’s decision to block third-party cookies.  As Google progresses toward eliminating cookies on all platforms by the end of 2024, reliance on cookies has become increasingly unsustainable. Marketers, constrained by reduced budgets, may find it challenging to target new customers in familiar ways.

Despite this, marketers can easily adapt to the cookieless world by investing in cookie-free campaigns that integrate with existing marketing efforts. With cookies starting to be turned off, now is the perfect opportunity to navigate this new landscape and collaborate with a specialist cookieless marketing partner, like Crimtan, who can assist with creating a marketing strategy to ensure campaign performance remains strong, while reducing dependency on cookies.

Andy Houstoun, Chief Commercial Officer at Crimtan, said: “The world of advertising is going to change beyond all recognition in 2024 with the final goodbye to third party cookies. But this is not a new challenge. Since Apple’s ITP in 2017, we have been finessing our connected cookieless platform for efficient planning, activation and measurement. And at Crimtan we can provide essential guidance for navigating these challenges.

“With AI optimising efficiency and cookieless strategies unlocking new possibilities, we envision a sustainable future where innovation and adaptability lead the way in digital advertising. The emphasis on sustainable and efficient practices not only aligns with our vision but directly contributes to businesses’ return on investment.”

AI and cookieless solutions should start being integrated into day-to-day marketing strategies to navigate the future, save costs, and lead the way in creating a sustainable, efficient, and environmentally conscious advertising landscape.

To find out more, or for additional help and advice, visit: https://lp.crimtan.com/AI-whitepaper.html

It All Adds Up: Dom Littlewood Heads Government Campaign to Help Homes Find Energy Savings

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Consumer champion Dom Littlewood has teamed up with the Department for Energy Security and Net Zero (DESNZ) for the ongoing ‘It All Adds Up’ campaign. Supported by partners such as home improvement retailer B&Q, this campaign aims to help UK homes to find low and no-cost ways to make their homes more energy-efficient to reduce energy bills.

Homes Looking for Heating Efficiencies

The latest DESNZ Public Attitudes Tracker revealed that 82% of people said they were paying attention to the amount of heat used in their home last winter, and of those 73% said they did so to minimise their heating bills.

Research shows HALF of Brits (50%) would like to know more about the most effective ways to reduce energy use in their home. 

In the newly released campaign advice film, Dom Littlewood joins forces with the energy expert from B&Q to visit residents of the appropriately named Energy Street, to address their energy concerns and offer tailored solutions to suite every home.

The film showcases a range of low or no-cost actions that households can take to reduce their energy usage, with potential annual savings adding up to significant amounts. The measures implemented in the Energy Street homes include:

  • Reducing combi-flow boiler temperature – to improve boiler efficiency and save up to £70 annually
  • Insulating a hot water cylinder – to stop heat loss which could save up to £50 annually
  • Making the switch to an aerated showerhead – to reduce hot water consumption which could save up to £40 annually
  • Turning the washing machine temperature down to 30ºC – for effective cleaning at cooler temperatures which could save up to £20

Top Tips to Save Big

The success of the campaign is evident in the experiences of Energy Street residents, who were able to achieve combined savings of up to £180 per year by implementing just four simple energy-saving actions.

In addition to the featured measures, the campaign highlights a variety of other energy-saving tactics, including finding and fixing draughts, installing smart thermostats, turning down radiators in unused rooms, using tumble dryers less frequently, and switching off appliances at the socket when not in use. Each tip comes with its own potential annual savings, illustrating how small changes can lead to substantial financial benefits over time and further information can be found via Help For Households website.

One resident, Chris, emphasized the importance of finding ways to keep costs down without compromising comfort, he said: My wife Sam’s arthritis means keeping her warm and comfortable is always a priority for me, but it can be quite costly. I am always keen to find ways to save money on my bills and it was so helpful learning some other easy tips to keep the costs down whilst not compromising on comfort.”

Dom Littlewood shared his enthusiasm for the campaign, stating, “It’s great to have met the amazing residents of Energy Street and to have been able to help them take steps to make their homes more energy-efficient. I saw firsthand how simple changes around our houses, will easily save a few bob here and there, all adding up to some impressive savings. Small changes can truly make a big difference!

Minister for Affordability and Skills Amanda Solloway echoed Dom Littlewood’s sentiment, emphasizing the government’s commitment to helping families reduce their energy bills and urging households to take advantage of available support.

Minister for Affordability and Skills Amanda Solloway, at the Department for Energy Security and Net Zero said:

“Keeping costs down for all is our top priority and last year our energy saving tips helped families save up to £120 million on bills.

 “That’s why we’ve partnered with Dom Littlewood to spread the word on how to heat your home for less – and there is no better place to do this than on Energy Street itself.

 “This is just one of the ways we’re helping those most in need and I urge these households to make sure they are getting the support they are entitled to.”

Commenting on the partnership and ‘It All Adds Up’ campaign, Chris Bargate, Strategy and Development Director at B&Q said, “We’re very supportive of campaigns like ‘It All Adds Up’ which empower families to make small changes in their homes to save energy, cut costs and stay cosy at home in the chillier months. Here at B&Q, we’re committed to helping our customers to control and reduce energy use, as well as to prevent heat loss in their homes. As well as offering hundreds of products, customers can also use our Energy Saving Service via diy.com to get personalised advice to help them identify what their home needs to be more energy efficient.”

With partners such as B&Q, B&M Retail, and AO.com, DESNZ is working to offer additional tips and advice to households across the UK, with the goal of creating a nation of energy-savvy homes.

For those looking to make simple switches and cut costs on their energy bills, resources and information are available at GOV.UK/SaveEnergy. With practical guidance and support, households can take meaningful steps towards greater energy efficiency and financial savings this winter and beyond.

Accurate Sales Forecasting: Businesses in Need as Majority Miss Targets

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Accurate sales forecasting is a crucial aspect for ensuring businesses are on track to meet projections. But new data from revenue intelligence experts Gong, highlights the challenges companies face when developing them. Nearly 80 percent of UK companies missed their sales forecast in at least one quarter over the last two years. A key contributing factor being outdated tech and practices being used to develop projections.

A 2022 study in Social Science Research Network found that public companies’ earnings guidance is wrong about 70 percent of the time, suggesting that this problem doesn’t only affect private companies, but publicly traded ones as well. In both public and privately listed organisations, missed forecasts can signal to stakeholders and shareholders a lack of understanding about the business and markets companies operate in, and cause them to lose confidence. Advanced forecasting tools that incorporate technology like artificial intelligence (AI) can help increase the accuracy of these projections.

Inaccurate forecasting is hitting companies and staff where it hurts: with pay freezes, promotions and hiring on hold. Despite missing forecasts, companies are optimistic for the year ahead, with 70% saying they’re increasing revenue projections for the year ahead. When asked for the biggest hindrance to accurate forecasting, a third said their technology is out of date.

“The days of revenue leaders relying on spreadsheets and subjective and partial data to predict sales are over,” said Amit Bendov, Gong CEO and co-founder. “Companies struggle to forecast accurately in good times, and the problem is compounded when economic headwinds hit. AI’s ability to bring the voice of the customer and ‘deal health’ to forecasting is changing the game to help leaders better understand and strategically plan their businesses.”

The good news is that businesses recognise the issues with the current approach and are tackling their forecasting process differently this year than last year. 34 percent of respondents said that they are or plan to forecast differently for the upcoming year. And 64 percent said that they are investigating or have invested in new, more advanced technology and systems to forecast more accurately.

Work marketplace Upwork is one company that has increased its forecasting accuracy as it has grown, with its community of independent talent earning more than $3.8 billion in 2022 across more than 10,000 skills.

“At Upwork, our sales forecasting process wasn’t providing the level of precision we needed as we entered a period of organizational change and growth amid an uncertain economy,” said Drew Korab, director of sales operations at Upwork. “We implemented a new, AI-powered solution that gives us the data, process, and insights to more accurately predict how our Enterprise business will perform in new logo acquisition. In the first three quarters we’ve used this solution, we reached 95 percent forecast accuracy, allowing us to deliver a stronger sense of confidence to our stakeholders.”

About the study

This survey was commissioned by Gong. To develop this report, CensusWide surveyed 2,015 business leaders at privately held companies in the US (1,015) and UK (1,000) between January 3, 2024 and January 9, 2024.

UK Slots Sites: Understanding, Evaluating & Playing in 2024

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Looking for the ultimate online slot experience? Dive into our guide to the best UK slots sites, where excitement and big wins await. Uncover a world of thrilling games, generous bonuses, and secure platforms that cater specifically to UK players. Whether you’re a seasoned spinner or new to the reels, we’ve got everything you need to elevate your gaming adventure. Get ready to explore top-notch slots with enticing themes and immersive gameplay – all from reputable operators licensed by the UK Gambling Commission.

Understanding UK Slots

Slot Types

Players can explore various slot types, each offering a unique gaming experience. Classic slots feature familiar symbols like fruits and bars, providing straightforward gameplay. On the other hand, video slots immerse players in captivating themes with bonus features and interactive elements. Progressive slots present the opportunity to win substantial jackpots that grow as more players participate.

Players can enjoy classic slot games for their simplicity and nostalgic charm. For example, they might encounter video slots based on popular movies or TV shows, featuring beloved characters and iconic scenes. Furthermore, mythology-themed slots transport players into ancient legends and folklore through visually stunning graphics and captivating storytelling.

Game Providers

Leading game providers such as NetEnt, Microgaming, and Playtech supply top-quality slot games to UK sites. Each provider brings its unique style and features to the table when creating slot offerings for UK-based platforms. The reputation of a game provider often influences players’ choices when selecting UK slots sites due to their trust in the quality of games offered by these providers.

Evaluating Slot Sites

Site Bonuses

Players can benefit from various bonuses, including welcome offers, free spins, cashback rewards, and loyalty programmes. Understanding the terms and conditions attached to these bonuses is crucial for maximising their benefits. For instance, some bonuses may have wagering requirements or specific game restrictions that players need to be aware of before claiming them.

Players should carefully assess the different types of bonuses offered by slots sites in the UK to find the most suitable ones based on their gaming preferences. By comparing bonus offerings across multiple slot sites, players can identify those that provide the best value and perks tailored to their individual needs.

  • Welcome offers
  • Free spins
  • Cashback rewards
  • Loyalty programmes

Mobile Compatibility

Many UK slots sites are designed with mobile compatibility in mind, ensuring seamless gameplay on smartphones and tablets. The responsive design and user-friendly interfaces of mobile-compatible slots enhance the gaming experience for slot enthusiasts who prefer playing on the go. This accessibility allows players to enjoy their favourite slot games anytime and anywhere without being confined to a desktop computer.

Players seeking convenience will appreciate how mobile compatibility enables them to access a diverse range of slot games while away from home or during travel. With advancements in technology, online slot sites in the UK continue to prioritise mobile responsiveness as part of their overall player experience strategy.

Key Features of Top Sites

User Experience

A smooth user interface and intuitive navigation are crucial for a positive user experience on UK slots sites. Engaging visuals, clear instructions, and responsive customer support play a vital role in enhancing the overall user experience. For instance, vibrant graphics and easy-to-find game categories can make it easier for players to navigate through the site.

Furthermore, an intuitive layout that allows players to quickly find their favorite games contributes significantly to a satisfying user experience. The impact of user experience on player satisfaction and retention cannot be overstated; therefore, top UK slot sites prioritize providing an enjoyable and hassle-free environment for their users.

Security Measures

Reputable UK slots sites go above and beyond by employing robust security measures such as encryption technology to safeguard players’ personal and financial information. This ensures that sensitive data remains protected from potential cyber threats or unauthorized access. Fair play measures like random number generators are implemented to maintain the integrity of slot games on these platforms.

Moreover, obtaining trustworthy licensing from regulatory authorities demonstrates a strong commitment to security on UK slot sites, reassuring players about the reliability of these platforms. By adhering to stringent security standards set by regulatory bodies, top UK slot sites create a secure gaming environment where players can enjoy their favourite games with peace of mind.

Popular Slot Games in the UK

Megaways Slots

Megaways slots are a hit among UK slots sites. These games have dynamic reels that can display varying numbers of symbols with every spin. This innovative feature creates an exhilarating gaming experience, as players never know how many ways to win they’ll have on each spin. With thousands of potential winning combinations, Megaways slots offer high-action gameplay that keeps players on the edge of their seats.

For example, in a standard slot game, a reel might show three symbols per spin. But in a Megaways slot, this number can vary from two to seven symbols per reel. This variability means that every spin is unpredictable and full of excitement.

The popularity of Megaways mechanics continues to grow among UK players who seek thrilling and fast-paced slot games. The unpredictability and potential for big wins make these games highly appealing to those looking for an adrenaline rush while playing online slots.

Progressive Jackpots

Another popular feature found on UK slots sites is progressive jackpot slots. These games accumulate prize pools that increase with every bet placed by players across the network or at one specific casino site. As more bets are made, the jackpot grows larger until one lucky player hits the ultimate prize.

For instance, some progressive jackpot titles offer life-changing sums of money as top prizes – giving players the chance to win substantial amounts from just one lucky spin. Progressive jackpots attract many UK slot enthusiasts who dream of hitting it big with just one fortunate moment.

Strategies for Online Slots

Understanding Payouts

When playing online slots, it’s crucial to understand how payouts work. The combinations of matching symbols across paylines determine the payouts. By grasping the paytables, players can comprehend the potential winnings for different symbol combinations. RTP (Return to Player) percentages indicate the average amount returned to players over time.

For instance, in popular online slot games like Starburst or Gonzo’s Quest, understanding the payout structure is essential for maximising potential wins and making informed betting decisions. By studying the paytables and RTP percentages, players can strategize their gameplay effectively and manage their bankroll more efficiently.

Volatility Insights

Another important aspect of online slots is volatility. Slot volatility refers to the risk level associated with a particular game’s payout frequency and size. Low volatility slots offer frequent but smaller wins, while high volatility slots feature larger but less frequent payouts. Players’ risk preferences play a significant role in determining whether they prefer low, medium, or high volatility slot games.

For example, when exploring various online slot sites such as NetBet Casino or other platforms offering a diverse range of slot games, understanding each game’s volatility helps players choose titles that align with their risk appetite and gaming preferences.

Importance of Licensing and Regulation

UK Slots Regulations

The UK Gambling Commission oversees and regulates all online gambling activities, including slot games. This regulatory body ensures that UK slot sites comply with strict regulations to guarantee fair play, responsible gaming practices, and player protection. Licensed operators must adhere to the legal requirements set forth by the UKGC for operating online slot platforms.

Compliance with these regulations is crucial in maintaining a safe and secure environment for players. It helps prevent fraudulent activities, money laundering, and underage gambling on UK slots sites, promoting transparency and trust within the industry. Furthermore, it provides players with recourse should any issues arise during their gaming experience.

Safe Slot Criteria

When assessing the safety of a UK slots site, players should look for several key criteria to ensure a secure gaming environment. These include fair gameplay, secure transactions, data protection measures, and responsible gambling features such as deposit limits or self-exclusion options. Trustworthy software providers contribute to meeting these criteria by offering certified fair games that are regularly audited for fairness.

In essence, safe slot criteria encompass various elements aimed at safeguarding players’ interests while they enjoy their favourite slot games online. By choosing licensed operators that meet these standards and working with reputable software providers who prioritise fair play and security, players can have peace of mind when engaging in online slot gaming.

Tips for Choosing Slot Sites

Assessing Bonuses

Assessing bonuses is crucial. Different types of bonuses cater to diverse player preferences, so understanding these distinctions aids in effective assessment. Evaluating bonus terms such as wagering requirements, validity periods, eligible games, and maximum winnings is essential. By calculating the overall value of bonuses based on their terms, players can make more informed decisions.

For example, some players might prefer a higher match deposit bonus with lower wagering requirements, while others may prioritise free spins with no maximum win limits. Understanding these differences helps players choose the most suitable bonus for their gaming style and preferences.

Exploring Slot Tournaments

Exploring slot tournaments can add an exciting competitive element to gameplay experiences on UK slots sites. Participating in tournaments offers opportunities for additional rewards beyond standard slot gameplay. Leaderboards showcasing top performers during the tournament period create an engaging environment where players strive to climb up the rankings for a chance at special prizes.

Moreover, time-limited challenges often accompany slot tournaments, adding an extra layer of excitement and urgency to the gameplay experience. The allure of competing against other players and potentially winning exclusive prizes makes slot tournaments an enticing feature for many online slot enthusiasts.

The Impact of RTP on Slot Games

High RTP Slots

High RTP (Return to Player) percentage is crucial for players looking for better long-term winning prospects. For instance, a slot game with an RTP of 95% will return £95 for every £100 wagered over time. Players seek out high RTP slots as they offer potentially better average returns.

Understanding RTP values is essential as it assists players in selecting slots with favourable payout rates. By choosing games with higher RTP percentages, players can enhance their chances of securing more consistent wins over extended periods.

When considering slot sites, players should look for platforms offering a wide selection of high-RTP games to maximise their winning potential. Having access to various options allows players to experiment and find the most suitable games that align with their preferences and play style.

RTP vs Volatility

RTP (Return to Player) represents the percentage of wagered money returned to players over time, indicating the overall generosity of a slot game. On the other hand, volatility reflects the risk level associated with potential payouts in a given slot game.

Balancing RTP considerations with volatility preferences is crucial when choosing slot games. While high-RTP slots offer better long-term returns, they may have lower or higher volatility levels, impacting how frequently and how much you win during gameplay.

Players should consider both factors when selecting slot games – finding a balance between favourable payout rates and preferred risk levels ensures informed decision-making that caters to individual gaming styles and goals.

Final Remarks

Congratulations! You’ve gained valuable insights into the world of UK slots, from understanding the key features of top sites to learning about popular slot games and strategies for online slots. Remember, when choosing slot sites, always prioritise licensing and regulation for a safe and enjoyable experience. The impact of RTP on slot games is also crucial, so keep that in mind as you explore different options. Now armed with this knowledge, go ahead and try your luck on some of the best UK slots sites. Happy spinning!

10 Ways to Take Control of Your Fleet Expenses Today

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Controlling fleet expenses is crucial for businesses that rely on vehicles. Effective management can help reduce costs, improve efficiency, and boost your profits. Here are some strategies to better control fleet expenses:

Regular Vehicle Maintenance

Maintenance Routine

  • Implement a maintenance schedule to keep vehicles in optimal condition.
  • By regularly checking your vehicles, you will be able to identify and address issues early on, which will, in turn, prevent high costs later on.
  • Ensure that all drivers are trained on how to properly report maintenance issues so that in the case of a breakdown, it can be dealt with efficiently.

Vehicle Lifecycle Management

  • Evaluate when to retire or replace older, less fuel-efficient vehicles to reduce maintenance and fuel costs.
  • Consider leasing instead of buying to reduce upfront costs and ensure access to newer, more efficient vehicles.

Manage Tires and Tire Maintenance

  • Properly inflate tires to the manufacturer’s recommended pressure to improve fuel efficiency.
  • Rotate and balance tires regularly to extend their lifespan and reduce replacement costs.

Implement a Fuel Management Program

  • Use a fuel card to track and control fuel expenses.
  • Choose fuel-efficient vehicles and promote eco-friendly driving habits to reduce fuel consumption.
  • Monitor fuel prices and take advantage of bulk purchasing when possible.

To register for your fuel card all you have to do is answer a few questions! Image: radius

Driver Training and Monitoring

Provide driver training programs that focus on safe and fuel-efficient driving techniques. These can be backed up with telematics systems to monitor driver behaviour, including speeding, idling, and harsh braking. To make sure drivers feel incentivised, reward drivers who demonstrate responsible driving habits.

Route Optimisation

Use route planning software to optimise routes and minimise mileage. Alongside this, reduce unnecessary trips and idling time. Implementing real-time traffic and GPS systems which avoid congestion and delays can help you to achieve these.

Choose the Best Insurance

It’s worth taking a bit of time to shop around for competitive insurance rates. You’ll find that implementing safe driving practices which can be monitored by something like a black box will let you qualify for lower insurance premiums.

Expense Tracking and Reporting

  • Utilise fleet management software to track expenses, monitor performance, and generate detailed reports.
  • Analyse reports to identify cost-saving opportunities and areas for improvement.

Utilise Technology

To ensure these safe driving practices, consider investing in telematics and GPS systems to monitor vehicle location, maintenance needs, and driver behaviour. To further this, implement IoT (Internet of Things) solutions for real-time tracking and data analysis.

Reduce Idling and Unnecessary Engine Use

  • Encourage drivers to turn off engines to save fuel.
  • Use auxiliary power units (APUs) for heating, cooling, and electricity without running the main engine.

Regularly Review and Adjust Strategies

Continuously monitor and evaluate your fleet management strategies and be prepared to adapt to changing circumstances, such as fluctuating fuel prices or new technologies.

Consider Eco-Friendly Alternatives

It might be worth evaluating the feasibility of incorporating electric or hybrid vehicles into your fleet to reduce fuel costs and environmental impact.

By choosing to implement just one or two of these methods, you could save a lot of money.

Five strategies for increasing productivity within your business

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One of the key measures of your business’s success is productivity. If work isn’t getting done in an efficient, timely manner then this can impact negatively on your future growth and profit.

It’s hard to avoid at least some loss of productivity throughout the day, we’re all only human after all. But it’s still important to consider how best to go about maximizing what your workforce can achieve within the time they have, whether it’s through improved business practices or automation, such as accounts payable software.

With that in mind, consider these five strategies that could help to increase productivity across your business.

  1. Increase workforce engagement

A team who aren’t enjoying their work aren’t likely to be as productive as the ones who are.

Nobody likes doing the more boring tasks, even though they are usually pretty important when it comes to keeping the business ticking over. While you probably can’t make it so that your employees enjoy every single aspect of their day-to-day work, that doesn’t mean you can’t find ways to keep them engaged.

Do what you can to make sure that people are happy in their roles, and try to ensure that they have a variety of tasks to do so that they can get away from some of the more routine ones that tend to drain their enthusiasm.

  1. Limit time-waste

Did you know that it takes roughly 15 minutes for people to become productive again after an interruption? Naturally, this means that for your business to maximize its productivity it needs to minimize the potential interruptions to staff’s workflows.

Of course, you can’t cut out meetings entirely. They’re still a key part of keeping your teams engaged and informed of what’s going on within the business. But what you can do is ensure that any meetings or calls you are having are an effective use of time.

Could the information be better conveyed in an email? Have you already had multiple meetings this week? Think hard before you book another one and limit the disruptions in your team’s days.

  1. Adopt automation

A lot of time gets used up on menial tasks such as admin and data entry. They need to be done, but they are usually incredibly time-consuming, taking focus away from tasks that add greater value to the business.

By adopting digital tools that are designed to simplify workflows and take some of the weight off the shoulders of your team, you can easily boost productivity across the board.

From accounts payable (AP) automation to customer relationship management (CRM) software, there are many tools that your teams can draw on to save valuable time by letting the software handle simple and repetitive processes instead.

  1. Reduce office distractions

Much like interruptions, distractions contribute significantly to time lost over the course of the day. They may only be little moments of lost focus, but these all add up.

You may not be able to completely soundproof the office, but give people a proper space to take their conversations away from the desks of their busy colleagues. Utilizing desk dividers and adding plants around the office can help to reduce general noise pollution, as well as putting noisier machines away from people’s desks.

  1. Offer flexibility

In recent years we’ve all seen the increasing shift towards flexible working and you can’t argue that it hasn’t had results. Being able to shift things up from the standard 9-5 clearly has its benefits, not least when it comes to productivity.

Some people work better at different times of the day and letting them cater their schedule around that can make sure that they’re doing their work at their most productive times, rather than struggling in a lull.

Cutting down on commuting time by allowing people to work from home is also likely to result in a more energized staff, allowing them to put the energy they’d lose in traffic into their work instead.

Beyond just productivity gains, adopting some of these strategies could increase the general happiness and satisfaction of your workforce. And a happy team only means good things for your business.

Game-Changing Partnership Between Ozan And Verifone

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Ozan and Verifone have forged a collaboration for the financial processes at payment terminals used by merchants across Turkey. This partnership combines Ozan’s innovative acquiring solutions with Verifone’s smart payment technologies, allowing businesses faster, safer, and more profitable payment collection and invoicing on a single terminal: Verifone Eko Kasa POS.

Verifone Eko Kasa POS delivers a better, faster payment experience to businesses and their customers. Ozan’s acquiring infrastructure enables secure, dependable, instant processing and rapid settlement. This collaboration will ease the lives of both businesses and customers, ushering in a new era in payment systems.

Ozan Elektronik Para (Ozan Electronic Money Institution) is Turkey’s pioneering, fastest-growing EMI and one of the few e-money institutions to hold an acquiring license in the Turkish fintech landscape. Kicking off its operations in Turkey in 2020, Ozan Elektronik Para has rapidly become a key payment solutions provider in the Turkish market through their commitment to delivering innovative financial solutions built on cutting-edge payment technologies.

All-in-one terminals for payment collection and invoicing have been the norm in Turkey for merchants for the past decade, and acquiring has been almost exclusively carried out by banks. This norm often comes with older, slower terminals, inefficient infrastructure and software, dependability issues, and hefty commissions and fees.

The partnership of Ozan and Verifone puts a big dent in this unfavorable situation, and Verifone Eko Kasa POS stands out as the new, reliable and economical choice for businesses. With Verifone Eko Kasa POS, payment processes are faster, more secure, and more efficient.

Customer-Centric Transformation in Financial Solutions

Dr. Ozan Ozerk, founder of Ozan Elektronik Para, emphasized the company’s constant focus on the needs of businesses and customers when developing new solutions. He stated, “We try and go beyond the typical financial services but strive to understand our customers’ needs and provide them with the best service possible. Building on our strengths, we achieve this through a solution-oriented approach and with strategic partnerships such as the one we have with Verifone.”

Fast and Secure Payment Processes

Ozan Elektronik Para CEO Ömer Suner highlighted their aim of making financial solutions more accessible. He said, “With this strategic collaboration with Verifone, we offer an innovative, flexible, and profitable payment solution to a wide range of businesses. We needed to make a difference in payment collection for in-store businesses and place a faster, more affordable, and more profitable solution for businesses on the offer. Our collaboration with Verifone represents a significant step towards achieving this goal. Verifone Eko Kasa POS will significantly enhance the customer experience, driving transformation in the industry. Our overall success lies in making the financial world more accessible through the speed, security, and efficiency we provide to our customers and we position the Verifone Eko Kasa POS project as a significant milestone for us.”

Özgür Özvardar, Vice President and General Manager responsible for Turkey, the Middle East, and North Africa at Verifone, stated, “With our extensive global and local experience spanning many years, Verifone continues to provide payment and trade solutions to leading brands in the retail sector, major financial institutions, and over 600,000 businesses. This collaboration, bringing together Verifone’s international and local experience and Ozan’s innovative vision, surpasses our customers’ expectations in payment processes. Our goal is to increase efficiency and accelerate transformation in the industry by offering safer, faster, and smarter payment solutions to consumers and businesses. We continue to progress with determination for the success of all our stakeholders on this journey.”

About Ozan Elektronik Para (EMI – Ozan Electronic Money Institution):

Ozan Elektronik Para is an electronic money institution in Turkey with licenses and memberships from Visa, Mastercard, UnionPay, BKM, and Troy. Its Ozan SuperApp/SuperCard products provide individual financial solutions to end-users. Meanwhile, Ozan Business products address all payment and collection needs of medium and large-scale businesses and ventures. Ozan Elektronik Para offers innovative solutions such as FijiPOS, FijiCash, and FijiPlace, QR payments, link payments, virtual and physical POS, payment gateway, and dealer collections. Ozan Elektronik Para operates in Turkey under Law No. 6493 and is authorized to make agreements with member businesses as per Law No. 5464.

About Verifone:

Verifone is the payments architect shaping ecosystems for online and in-person commerce experiences, including everything businesses need – from secure payment devices to eCommerce tools, acquiring services, advanced business insights, and much more. As a global FinTech leader, Verifone powers omni-commerce growth for companies in over 165 countries and is trusted by the world’s best-known brands, small businesses, and major financial institutions. The Verifone platform is built on a four-decade history of innovation and uncompromised security, annually managing more than 14B transactions worth over $450B on physical and digital channels. Learn more at https://www.verifone.com/tr/tk

For More Information:

Brandfocus / Sinem Uyanık / +90 544 818 07 11 / sinem@brandfocus.com.tr

The Butterfly Effect in Cash Circulation: How Small Details Help Central Banks Fulfill Their Strategic Roles

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“Cash helps to stabilize the economy,” reads a research paper by the German Technical University of Applied Sciences, adding that “it should be the undisputed task of central banks to ensure that cash remains in circulation in normal times and is provided in a fully elastic way in times of crisis.” And indeed, supporting cash circulation is critically important for the entire financial system of a country, and even minute details are of enormous importance. What can happen if one cog in this system fails?  

Central banks are never idle. Working as the monetary system regulators, they have plenty of strategic roles, one of which is to serve as the provider of fiat currency. Here, they assume a critical position in regulating the supply of cash in circulation, ensuring that sufficient amount of currency is available to meet the needs of the economy without oversupplying the market.

What happens when this function falters? Let’s look at the case of India, which in November 2016 unexpectedly announced withdrawal of most of its cash. The goal was to end corruption, counterfeiting and kill a large shadow economy, and Indians would have to exchange or deposit their large rupee bills in a matter of weeks. While the locals floundered in panic, the Indian Central Bank was shipping in new types of bills to the roughly 600 districts in the country. The new banknotes were sent to districts at different speeds and in different batches, which resulted in cash shortfalls and caused a 2-percentage point crash in economic growth during the first few months after the policy was announced. Seven years later, the calm and slow withdrawal of the 2,000 rupee note shows that the country’s Central Bank learned its lesson in necessity of keeping the cash circulation stable.

When slow speed makes the economy stumble 

“If India had been able to print those notes and distribute them instantaneously, there wouldn’t have been any problem,” says Gabriel Chodorow-Reich, an economist at Harvard University. This statement emphasizes the importance of coherence between those responsible for making the nation’s monetary system work and their helpers, the cash printing and handling industry. Should one link in this chain crumble, the consequences can be devastating, as evidenced by the example above and by the situation from the point of view of Swiss-based security printing solutions provider Koenig & Bauer Banknote Solutions (KBBS), who holds over 90 percent of the world security printing equipment market: “Emerging markets need increasing amounts of cash, as cash in circulation closely correlates with gross domestic product,” noted KBBS’s Chief Financial Officer.”

The smooth operation of the entire system helps central banks fulfil their strategic role of providing fiduciary services. The nature and stages of ensuring the cash in circulation follow a seemingly simple logic: print, dispatch, return worn-out banknotes. A deeper look, however, reveals an integral ecosystem. At the heart of it is the constant need to optimize and tailor all processes in order to organize short yet efficient circuits, suitable for different situations and different cash centers and depots.

“There is no standard cash center that can simply be lifted and shifted to the next customer. Every cash center has specific needs – including those determined by local or internal rules,” says Hermann Gessler, Head of Technical Sales and Consulting, Value Added Solutions and Services, at German security printing and solutions company G+D. A simple example of such a center is cash-in-transit companies (CIT) specializing in the secure and efficient transportation of cash and valuables, bridging the gap between financial institutions, retail businesses, and the public. They collect cash from retail outlets, banks, and ATMs, deliver it to secure processing centers for sorting, counting, and bundling. Their work is well-orchestrated normally, but sometimes unexpected cruces occur.

Why low cash production quality affects everyone  

The work of CIT companies and all other cash handlers directly supports central banks’ efforts to maintain an efficient and universally available cash cycle. It is clear in our next example from Australia, where several banks have sold some of their off-branch ATM fleets to third-party operators, and the country’s central bank granted CIT companies a regulatory exemption with the goal of providing cardholders with wider access to fee-free ATMs. All these actions were taken with one big goal: to provide access to banknotes in remote areas in conditions of reduced demand for cash and, consequently, lower profitability of the ATM infrastructure. One of the problems was the unpleasantly high cost of replenishing machines with banknotes as the transport cost grew higher with the distance. To address this issue, banks and CIT companies have resorted to the use of ATMs with banknote recycling capability. This, in turn, cut expenditures – but with a potential trade-off of having lower-quality banknotes as they are not processed at CIT cash depots as frequently.

One of the central banks’ requirements for cash, namely to ensure the reliability and quality of banknotes, directly relates to solving similar problems. The quality of banknotes in circulation is inevitably deteriorating but the better they are printed, the more they remain readable. Essentially, the requirements for print quality and materials serve as a benchmark for security printing works, explains Thomas Savare, CEO of French fiduciary printer Oberthur Fiduciaire: “Integrated security technologies, the lifespan of the banknote and its composition are so important factors. This corresponds to the intrinsic characteristics of the banknote, its qualities as an object.”

To make these requirements work, banks and security printers enlist the help of another industry players, i.e., suppliers of specialized equipment and materials. The quality of the banknotes produced plays a major role in this, says Eric Boissonnas, CEO of Swiss-based security printing solutions provider Koenig & Bauer Banknote Solutions: “In a developing country, the cost of circulating banknotes is around 70 times higher than the cost of producing them. However, this ratio rises to 200 times the production cost in highly developed countries, where the life cycle is far more complex. Hence the importance of producing banknotes that are as durable as possible, while complying with cash cycle requirements.” Among other things, the quality here is ensured by specialized equipment with very precise tolerances, he adds: “[The high quality and precision] enables the banknotes to be authenticated several hundred times, at lower cost, while reducing the need for secure transport and the associated environmental impact.”

How weak circulation can cause economic collapse 

Beyond the day-to-day functioning of the economy, the strategic role of central banks and their assistants extends to ensuring access to cash in all circumstances, whether in remote areas, when changing banknote series or in times of crisis. Interestingly, the importance of this role does not depend on the economic condition of a country, and equally applies to a developing cash-dependent state like India and the economically country like the USA in our next example.

The case of the United States at the height of the COVID-19 pandemic is of particular interest as it shows how a disruption in a miniscule detail such as a coin circulation causes a ripple effect on the entire economy. By the middle of 2020, the first year of the pandemic, the US monetary authority discovered a severe shortage of small coins in the country. Then, the lockdown mandate to shut down businesses reduced the coins circulation, while the US Mint cut production. The resulted “Great Coin Shortage” caused monetary rationing, difficulties paying bills, businesses losing revenue, weaker general economic growth and impacts on unbanked people.

Setting to resolve the crisis, the US Mint had to restart production and increase its volume. This measure helped to boost the number of coins in circulation, but did not solve the problem completely. Stepping forward to help, businesses employed promo campaigns, with some fully switching to digital payments, with nothing helping much as the primary issue lied in unusual circulation disruption, explained the US Coin Task Force member Hannah L. Walker: “The weak circulation affects most everyone, but the hardest hit are small cash-dependent businesses and those who are least well off. For millions of Americans, cash is the only form of payment.”

Now that the issues in the US, India and other countries are mostly over, the delicate interdependence of all players in the fiduciary services provision becomes all the more evident. The speed of cash distribution, production subtleties, control and coordinated work of all participants enables central banks to perform their currency provider function effectively. What’s more, the cases above reveal the immense impact of this function on other facets of the economy and society, from financial stability and implementation of monetary policies to social support measures and general safety and soundness of private and business transactions – and makes us think about the butterfly effect, where bad print quality, a speed too slow, or a coin sitting in a jar may result in a great economic collapse.

Enhanced SME Finance Proposition by mycashline with Shawbrook Bank’s Support

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Dovi David and Yisroel Perkel launched mycashline in 2018, aiming to innovate the UK’s small business finance sector. By integrating state-of-the-art AI and machine learning, mycashline aspires to modernize and improve upon traditional lending models, providing a more empathetic financial solution for SMEs.

In collaboration with Haogen Technologies Limited, mycashline has been instrumental in offering accessible and practical loan options to numerous small businesses, aiding their growth and scalability.

In a recent development, mycashline and Haogen Technologies Limited have announced securing additional funding from Shawbrook Bank. This financial reinforcement is directed towards fuelling mycashline’s continued growth and its mission to support a broader array of UK SMEs in 2024.

Dovi David, the visionary CEO of mycashline, shared his perspectives: “We’re very excited to grow our partnership with Shawbrook. The teams at mycashline and Shawbrook have built a really strong relationship over the last year, and mycashline’s decision to choose Shawbrook to expand its funding line is testament to this. The new funding will accelerate our growth, solidifying our role as a key player in SME finance. With a strong brand, unwavering values, and a popular product, we’re poised for even greater success. We can’t wait to get going with more of the same. We know that 2023 was a difficult period for small businesses, but with some light at the end of the tunnel, we’re confident we’re able to help even more businesses grow and strive in 2024.”

Warren Mutch of Shawbrook Bank reflected positively on the funding extension: “Having worked with Dovi and the team at mycashline on the original funding line, we were very impressed with their offering and the success they had. Naturally, we were well-placed to arrange an increased debt line and moved swiftly to support the business as it looks to accelerate its growth and assist more SMEs in the marketplace.”

VibePay Innovates Payment Space with Integrated Messaging Functionality

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VibePay, the trailblazing account-to-account payment platform, is excited to roll out its latest feature: messaging within channels. This novel addition is poised to transform the user experience by seamlessly blending communication with financial transactions in a single, cohesive channel.

The introduction of this feature means users no longer need to alternate between separate apps for messaging and payments. VibePay enables its users to stay connected with friends, relatives, and clients whilst managing payments, all within one integrated platform, thus eliminating the hassle of copying bank details across platforms.

A key highlight of this new feature is its emphasis on secure transactions, removing the necessity to share bank details over common messaging apps like WhatsApp or Messenger. VibePay’s exclusive VibeMe links offer a secure method for users to transact and communicate, marking a significant leap towards secure and user-friendly digital payment solutions.

Additionally, the feature paves the way for direct interactions between businesses and consumers, which VibePay believes will significantly advantage SMEs and sellers by allowing direct customer engagement within the payment platform, potentially offering substantial cost savings over traditional communication channels such as MailChimp.

Chris Franklin, Chief Marketing Officer at VibePay, expressed his excitement: “We are excited to bring a new dimension to the world of payments with the introduction of messaging in the VibePay app,” underscoring the feature’s role in enhancing transactions and offering businesses a direct, cost-efficient communication channel with customers.

Principal Features of VibePay’s Messaging Integration:

  • Secure Transactions: Avoid the need to share sensitive banking details on widespread messaging apps.
  • Seamless Communication: Experience an all-in-one platform for messaging and payments.
  • Direct Business-Customer Interaction: Facilitate SMEs and sellers in directly connecting with their clientele, fostering better relationships.
  • Cost Savings for Businesses: Take advantage of the messaging feature to potentially save on traditional communication platforms.

The debut of messaging within the VibePay app marks a pivotal moment in the digital payments evolution, ensuring VibePay remains a leader in delivering secure, all-encompassing financial services.

To explore the next phase of payments with messaging, download the updated VibePay app. More details can be found at www.vibepay.com.

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