Finance Malta hosted a half-day educational clinic at the MFSA conference facilities entitled ‘The Blockchain Disruption.’ The clinic was also intended to be an eye-opener into why Blockchain technologies cannot be ignored by industry professionals.
Finance Malta business development manager Ivan Grech said: “The Blockchain is the technological innovation on top of which the Bitcoin and other crypto-currencies have been created; yet the impact of the blockchain technologies will be much broader than the financial services sector alone. In addition to financial services and payment services, a number of sectors of the economy will be deeply affected, like: insurance, identity management, legal services, notarisation services, media, commodities, supply chain, energy, ‘Internet of Things’, luxury goods, provenance and authenticity tracking, public services and more.”
Mr Grech added that, “while financial services will be affected first hand, as the technology matures and is adopted, it is in the larger consumer space that network effects will be observed, making Blockchain technologies a foundational innovation similar to what has been experienced in the last 25-30 years with the internet. Likewise, they will be the breeding ground for new kinds of services and business models.”
The seminar was also addressed by Steve Tendon, managing director of Tameflow Consulting Ltd, who gave a historic overview on the potential of the Blockchain. He was followed by a presentation by Wayne Pisani, partner, tax and regulatory, corporate and financial services from Grant Thornton on ‘Working with Blockchain’.
Palumbo ranks third worldwide
Palumbo Malta Shipyard has placed third worldwide for cruise ship refitting, beating stiff competition from Marseille and Barcelona.
The Maltese shipyard’s team of workers, operating from Cottonera, last year won contracts to refit and maintain four cruise liners – Costa NeoRiviera, Thomson Spirit, Mein Schiff 2 and Mein Schiff 3 – according to the international trade magazine Seatrade Cruise News.
“Placing third worldwide in just six years since we took over the Malta Drydocks gives us immense satisfaction. This ranking would never have been achieved without everyone’s dedication and hard work,” Palumbo Group CEO Antonio Palumbo said.
Palumbo Malta’s Shipyard fell just one ship short of second place in the international ranking, secured by the Fincantieri shipyard in Palermo that refitted five liners. The undisputed leader was the Grand Bahama Shipyard, which is strategically located on the Caribbean Cruises route, and last year renovated 21 vessels.
According to the report drawn up by Seatrade Cruise News, there were 62 cruise ships globally requiring refitting or maintenance for a total expenditure of around €1.42 billion.
Atlas Chat reaches 15,000
Atlas Insurance’s chat facility on atlas.com.mt has recently surpassed the 15,000 chat. Since its introduction in 2012, the chat facility continued to grow in popularity with customers who find it particularly easy to enquire about insurance products and services.
On average Atlas receives 425 chat requests per month, with the most popular queries being related to health claims, and other personal insurance like motor or home. Those that log on to Atlas Chat will be asked which category of insurance they are interested in, to direct them to the correct representative for a more efficient interaction.
“When first launched, the aim was to provide customers with a new way to interact with us, to enhance their experience by making it more convenient. Through Atlas Chat, customers can speak to our representatives and receive instant replies,” said Keith Tanti, manager, branches and intermediaries. “Today, a few years down the line, we consider Atlas Chat as our tenth branch, although a virtual one.”
When sorting out their insurance needs, customers still prefer interacting with a member of staff, rather than going completely digital. “With this in mind, we make an effort to include the element of personal interaction in everything we do,” said Mr Tanti.
Icon partners with big data specialist
Software development and digital marketing firm Icon has partnered with Minely, a specialist in big data analysis and data-driven solutions. Founded in 2013, Minely is now led by a top ex-Apple executive and close collaborator of Steve Jobs, Christian Barrios.
The amount of data businesses collect has grown so much over the last decade that collating it into a proper insightful dashboard incurs significant investments in human resources, software and time.
Icon is now offering a big data analytics platform through its partnership with Minely. The company can simplify big data processing to easily build data-driven solutions using cutting-edge technology for business analytics. This provides clients with real-time input for timely and relevant decision-making.