FEATURES AND ADVICE
prnewswire | April 25, 2023
Notabene has published its second comprehensive State of Crypto Travel Rule Compliance Report, which provides insightful results from their 2023 global Travel Rule compliance survey. This report follows the successful inaugural report, which provided the industry's first-ever comprehensive analysis of Travel Rule compliance.
"This year's report highlights that Travel Rule compliance is becoming increasingly global, with nearly a quarter (23%) of the surveyed companies needing to comply with Travel Rule requirements in more than one jurisdiction. These findings suggest that the Travel Rule is becoming more global in nature, underscoring the need for a solution to the common cross-border challenges posed by the Travel Rule," says CEO Pelle Braendgaard.
The State of Travel Rule report includes survey results from financial institutions and crypto companies worldwide on how prepared they are for upcoming regulatory deadlines. Sixty-nine companies completed the survey, representing broad global coverage.
The report includes real-world feedback on differences in Travel Rule adoption across jurisdictions, approaches to implementation, components of compliance, and summarizes adoption pitfalls. Key findings show that 84% of companies are already complying or plan to by the end of 2023, and 75% of respondents impose some restrictions on transactions with self-hosted wallets. The report also found that of those who comply, 37.5% perform the travel rule post-transaction, not fulfilling today's FATF requirements.
"Our global and diverse respondents have reinforced the global nature and the various levels of Travel Rule compliance." says Lana Schwartzman, Head of Regulatory and Compliance at Notabene. "VASPs are asking for a unified and interoperable global approach for reaching their counterparties and transmitting Travel Rule messages. As a result, regulators must work together with industry to develop a unified approach to Travel Rule compliance that addresses the needs of the entire industry. We are already seeing this in the EU and UK and hope other regions will follow."
This year's report includes a comprehensive illustration of the current global state of Travel Rule adoption, showcasing key information regarding jurisdictional enforcement, including information on the enforcement status of each jurisdiction, as well as the threshold amount and self-hosted wallet obligations. This information is crucial for businesses seeking to comply with the Travel Rule.
About Notabene
Notabene is crypto's only pre-transaction decision making platform. We enable customers to identify and stop high-risk activity before it occurs.
Notabene's SafeTransact platform helps financial institutions and crypto businesses unlock their full potential in the digital economy. With a focus on security, privacy, and end-user experience, Notabene customers can use our multi-source data and software to automate real-time decision-making, perform counterparty sanctions screening, identify self-hosted wallets, and complete the smooth roll out of Travel Rule compliance, all in line with global and local regulations.
Notabene is SOC-2 security certified since 2021. Over 85 companies leverage our software to manage real-time regulatory and counterparty risk in virtual asset transactions, including Copper, Luno, Crypto.com and Bitstamp. Headquartered in New York, Notabene is a global company with presence in Switzerland, Singapore, and the United Kingdom.
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BUSINESS TRAVEL
IBS Software | May 05, 2023
IBS Software, a global leader of SaaS solutions to the travel and transportation industry, has chosen CarTrawler, a leading B2B technology provider of car rental solutions, to offer car hire & insurance services to IBS iFly Staff & Corporate customers.
This partnership will simplify and enhance the Whole of Trip (WoT) experience for iFly Staff & Corporate customers, in addition to expanding IBS Software's footprint in non-air ancillaries in the global travel industry. Currently, airline staff and corporate travel involves navigating multiple applications to book essential add-ons. IBS Software's partnership with CarTrawler enables iFly Staff users to book car rentals and car insurance through an integrated and seamless staff travel system.
Since its inception in 2004, CarTrawler has provided more than 75 airlines with global car rental and mobility solutions for commercial purposes. CarTrawler also holds the widest breadth of car rental supply of any provider across over 1,700 suppliers in 55,000 locations. Its partnership with IBS Software signals an unprecedented and strategic step to offer an integrated travel experience for airline staff within corporate travel.
Madhu Nair, Head of iFly Staff Product Management and Strategy at IBS Software, says: "We're delighted to partner with CarTrawler, a renowned and well-respected global car rental solutions provider. Motivated by a need to improve, simplify and boost efficiency across the end-to-end travel experience for our iFly Staff and Corporate customers alike, we're working closely with CarTrawler to provide a unique and innovative Whole of Trip travel experience."
Aileen McCormack, Chief Commercial Officer at CarTrawler, says: "We're excited to partner with IBS Software and to support them in the expansion of their Staff Travel & Corporate solution for current and prospective customers, using CarTrawler's technology to seamlessly improve travel experiences through flexible and simple end-to-end bookings."
About IBS Software
IBS Software is a leader in providing SaaS solutions for the travel industry based in Singapore. It manages mission-critical operations for clients in the aviation, tour & cruise, and hospitality industries. The aviation industry solutions provided by the company include fleet & crew operations, passenger services, staff travel, loyalty programs, aircraft maintenance, and air cargo management. It also operates a B2B and B2C distribution platform that provides hotel room inventory, rates, and availability to a network of hospitality companies and channels. Additionally, it offers a comprehensive, customer-centric digital platform for the tour and cruise industry that includes onshore, online, and on-board solutions. IBS Software is a Blackstone portfolio company with 15 offices worldwide.
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TRAVEL TECHNOLOGY
businesswire | April 10, 2023
Officials of HEI Hotels & Resorts, a leading hospitality investment and management company, today announced the company was awarded a Vibe Vista award for “Best Beverage Menu” at this year’s Questex Vibe Conference, the premiere on-premises beverage conference for executives. This marks the second consecutive year in which HEI was recognized, winning for Best Overall Beverage Program in 2022.
“Vibe Vista Awards recognize the top performers in the beverage industry through the creation, training, execution, management and on-going positive results of beverage programs, and we are humbled to be recognized from among this year’s outstanding participants,” said David Miller, corporate director of beverage operations, HEI. “It is important to our entire F&B team to work with hotels individually to create beverage menus that add to the experiential nature of our properties. While our mixologists are experts in what they do, it takes that extra property-level knowledge to create something unique that stands out from the crowd. This award is a testament to the hard work done by our executive team comprised of Rachel Moniz, Aliya Kritzler and me, as well as the individual hotel teams and beverage partners who helped us achieve this amazing goal.”
Vibe Vista Awards entries were reviewed by a panel of Johnson & Wales University beverage faculty, staff and alumni and were judged on positive beverage sales initiatives, efficient operational innovations and training and service programs producing high quality standards.
As an example of its beverage program, HEI worked with the F&B associates at the Westin San Antonio’s recently remodeled Zocca Bar to create “The Paloma Rossa,” a cocktail derived using Blanco tequila, grapefruit, Big Red syrup, torched rosemary and lime to create a similar taste to a popular local soda. “San Antonians are in love with Big Red Soda, but people from outside the 210 and 726 area codes likely aren’t that familiar with the drink,” Miller noted. “By working with our on-property bar teams, however, we were able to create a truly unique cocktail for our guests that takes a casual drink to a truly localized experience we find visitors prefer.”
ABOUT HEI HOTELS & RESORTS
HEI Hotels & Resorts, headquartered in Norwalk, Conn., is a leading hospitality investment and management company that owns or operates 100+ luxury, upper-upscale and upscale independent and branded hotels and resorts throughout the United States. HEI’s branding partners include Marriott, Hilton, Hyatt, IHG, Choice and Wyndham. The company is renowned for its commitment to its associates under the culture of HEI Loves, its revenue management, profit contribution and empirically based real estate value creation, driven by a full complement of proprietary software tools to set and exceed targets on a fully integrated basis. HEI works hand-in-hand with institutional capital partners on existing assets under management as well as sponsored acquisition opportunities. The company has ample equity capital and strategically co-invests with its partners on many transactions.
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