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Linux Foundation Launches Tazama: A Revolutionary Open Source Solution for Real-Time Fraud Management

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Tazama is the first open source platform for financial monitoring and fraud detection.

SAN FRANCISCO, Feb. 28, 2024 /PRNewswire/ — Linux Foundation Charities (LF Charities), with support from the Bill & Melinda Gates Foundation, is proud to announce the launch of Tazama, a groundbreaking open source software solution for real-time fraud prevention. This launch marks a significant milestone in the evolution of digital financial services, introducing the first-ever open source platform dedicated to enhancing fraud management in digital payments.

Tazama is the first open source platform for financial monitoring and fraud detection.

Tazama represents a significant shift in how financial monitoring and compliance have been approached globally. Until now, the financial industry has grappled with proprietary and often costly solutions that have limited access and adaptability for many, especially in developing economies. This challenge is underscored by the Global Anti-Scam Alliance, which reported that nearly $1 trillion was lost to online fraud in 2022.

Tazama challenges this status quo by providing a powerful, scalable, and cost-effective alternative that democratizes access to advanced financial monitoring tools that can help combat fraud.

Tazama addresses key concerns of government, civil society, end users, industry bodies, and the financial services industry, including fraud detection, AML Compliance, and the cost-effective monitoring of digital financial transactions. The solution’s architecture emphasizes data sovereignty, privacy, and transparency, aligning with the priorities of governments worldwide. Hosted by LF Charities, which will support the operation and function of the project, Tazama showcases the scalability and robustness of open source solutions, particularly in critical infrastructure like national payment switches.

Several organizations are exploring synergies with Tazama, including BankservAfrica, IPSL, JoPACC, and BCEAO. Synergies include an evaluation of Tazama’s solution effectiveness, scalability, and adaptability in real-world scenarios, ensuring it meets and exceeds the diverse needs of Digital Financial Services Providers (DFSPs) across various sectors.

“Innovation in financial technology is critical and Tazama is at the forefront of that evolution,” said Jim Zemlin, Executive Director of the Linux Foundation. “We are excited to see an open source solution that not only enhances financial security but also provides a platform for our community to actively contribute to a project with broad societal impacts.”

“This pioneering open source platform helps address critical challenges like fraud detection and compliance and paves the way for innovative, inclusive financial solutions that serve everyone, especially those in low-income countries,” said Kosta Peric, Deputy Director, Payment Systems, at the Bill & Melinda Gates Foundation. “The launch of Tazama signifies another stride towards securing and democratizing digital financial services.”

“Very few anti-fraud systems have true real time capability,” said Greg McCormick, Executive Director of Tazama. “Yet that is what we need to stop fraud before the payment is made and to ensure that a user can trust the system and they won’t lose their money. The bigger challenge was how do we keep the costs down and do this all with open source. We achieved 2,300 TPS (Full Payment Transactions Per Second). Both the team and I are very proud of what we have accomplished, but more is coming. The Linux Foundation will help us accomplish our goals and fully embrace the open source ethos.”

Tazama welcomes central banks, regulators, mobile payments providers, system integrators, organizations and individuals to get involved and participate. To learn more about Tazama, its mission, community and initiatives, please visit the Tazama website and GitHub.

About Linux Foundation Charities
LF Charities empowers people and communities worldwide to engage in the creation and development of open source technology. This includes enabling a wide range of technical collaboration, including open source software, standards, hardware, and data. It is the goal of LF Charities to enable development of open technology which is shared freely across the world to tackle societal challenges and bridge inequalities. LF Charities is committed to fostering a public commons for open source technology—a commons that propels the advancement of society at large. With this charitable mission, LF Charities supports the Linux Foundation ecosystem. For more information please visit https://lf-charities.org/.

Media Contact
Noah Lehman
The Linux Foundation
nlehman@linuxfoundation.org

View original content:https://www.prnewswire.com/news-releases/linux-foundation-launches-tazama-a-revolutionary-open-source-solution-for-real-time-fraud-management-302074329.html

SOURCE The Linux Foundation

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iMarketKorea Signs Two MOUs with Vietnam’s Phu Tho Provincial People’s Committee and BIDV

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Participates in Korea-Vietnam Economic Delegation

Accelerates development of an industrial park in Phu Tho Province near Hanoi, while attracting advanced manufacturing companies and building a supply chain ecosystemPlans parallel development of an Inland Container Depot (ICD) to strengthen logistics competitivenessExpands discussions with Bank for Investment and Development of Vietnam (BIDV) on financial support measures and new business opportunities

HANOI, Vietnam and SEOUL, South Korea, April 27, 2026 /PRNewswire/ — iMarketKorea, a leading industrial materials distribution company led by CEO Kim Hak-jae, announced that it has signed two Memoranda of Understanding (MOUs) with the Phu Tho Provincial People’s Committee and Bank for Investment and Development of Vietnam during the MOU signing session at the Korea-Vietnam Business Forum, hosted by Korea’s Ministry of Trade, Industry and Energy and the Korea Chamber of Commerce and Industry. The company participated in the official Korea-Vietnam economic delegation.

As Vietnam’s investment environment continues to advance, cooperation in production infrastructure such as industrial parks has become increasingly important. Based on prior discussions with Phu Tho Province, iMarketKorea formalized this partnership through the latest agreements.

Located near Noi Bai International Airport, Phu Tho Province is emerging as a strategic logistics hub and an attractive production base for global companies. The province recorded 10.52% gross regional domestic product (GRDP) growth in 2025, ranking fourth among Vietnam’s provinces.

Through the agreement, iMarketKorea plans to develop a national industrial park in Phu Tho Province and actively attract global manufacturing companies. The company also aims to build a supply chain-driven industrial ecosystem by strengthening collaboration among related businesses centered around the industrial complex.

To enhance logistics competitiveness, iMarketKorea will also pursue the development of an Inland Container Depot (ICD) with bonded warehousing functions. An ICD is an inland logistics hub enabling customs clearance and cargo handling. When integrated with the industrial park, it is expected to improve import-export efficiency and strengthen the region’s attractiveness to manufacturers.

Kim Hak-jae, CEO of iMarketKorea, said, “This agreement establishes the foundation for integrated production and logistics infrastructure. Through cooperation with the Phu Tho provincial government and BIDV, we plan to establish a one-stop support system covering administration, finance, legal matters, and taxation. We will also create an environment where high-tech parts and materials companies can effectively utilize local incentives and gradually expand future cooperation.”

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/imarketkorea-signs-two-mous-with-vietnams-phu-tho-provincial-peoples-committee-and-bidv-302753801.html

SOURCE iMarketKorea

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Global Customers Are Taking a Closer Look at Focused Photonics Inc.

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HANGZHOU, China, April 24, 2026 /PRNewswire/ — For scientific instrument companies competing globally, differentiation increasingly depends on more than product specifications alone. Customers are looking beyond performance claims to assess whether a company can consistently translate technology into manufacturable products, proven applications, reliable delivery and long-term service support.

That shift was evident during Focused Photonics Inc.’s (FPI) Global Customer Experience Day 2026 in Hangzhou, where customers and partners from dozens of countries visited the company’s Qingshanhu Innovation Base, headquarters and live application sites. For many attendees, the event offered a closer look at how a China-headquartered scientific instrument company is building capabilities across R&D, manufacturing, systems integration and lifecycle support.

At Qingshanhu Innovation Base, visitors saw key stages of FPI’s operations firsthand, including engineering, precision manufacturing, system integration, testing and service readiness. For many international customers, these visits are less about viewing a production line and more about assessing execution: whether a supplier has the engineering discipline, manufacturing depth and support infrastructure required to deliver consistently in real operating environments.

This is becoming increasingly important across the industry. As customer expectations evolve, competition is moving beyond stand-alone instrument performance toward integrated solutions, automation, data integrity, compliance and lifecycle value. In industrial and environmental applications in particular, uptime, stability and workflow fit often matter as much as analytical capability.

At its global customer conference, FPI outlined how it is responding to that transition, highlighting continued investment across environmental monitoring, industrial process analysis, laboratory analysis and life science applications. The company is also expanding the role of digitalization, automation and AI to improve application readiness and solution delivery.

Application-focused exchanges during the event reinforced the same point. In discussions on environmental, industrial and laboratory scenarios, customers focused not only on performance metrics, but also on regulatory fit, workflow integration, long-term operation under complex conditions, and the ability of solutions to function reliably once deployed. These are increasingly central criteria in global purchasing decisions.

The clearest proof came from real-world settings. At the Hangzhou Ecological Environment Monitoring Center, visitors saw FPI’s automated water quality laboratory in operation, where sample handling, workflow continuity and data generation are integrated into day-to-day use. For customers, this offered a more concrete view of how a solution performs not just in demonstration, but in routine operation.

Taken together, the event underscored a broader industry reality: global competition in scientific instruments is increasingly defined not only by what a product can do, but by whether a company can manufacture it at scale, deploy it effectively, support it locally and sustain performance over time. That broader operational capability is becoming a decisive part of how international customers evaluate suppliers.

View original content:https://www.prnewswire.com/news-releases/global-customers-are-taking-a-closer-look-at-focused-photonics-inc-302753822.html

SOURCE Focused Photonics Inc.

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Straits Financial Services Pte Ltd Granted Overseas Intermediary Futures Broker Status by Shanghai Futures Exchange and Guangzhou Futures Exchange

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SINGAPORE, April 27, 2026 /PRNewswire/ — Straits Financial Services Pte Ltd (“SFSPL”), a member of Straits Financial Group, is pleased to announce that it has been granted overseas intermediary (OI) futures broker status by the Shanghai Futures Exchange (SHFE) and the Guangzhou Futures Exchange (GFEX).

This recognition marks an important milestone in expanding international access to China’s futures markets and further strengthens SFSPL’s ability to connect global investors with onshore opportunities.

As an overseas intermediary futures broker, SFSPL will be able to facilitate client access to selected products listed on SHFE and GFEX. The overseas intermediary model significantly lowers barriers to entry for international participants by removing the need for complex onshore structures and enabling more efficient cross-border access, while operating within China’s regulated market environment.

“As China’s futures market continues to open up, this recognition represents a meaningful milestone for both SFSPL and our clients,” said Roger Quek, Chief Executive Officer and Managing Director, Straits Financial Services Pte Ltd. “We are pleased to support international investors with more seamless access to China’s onshore derivatives market, while maintaining a strong focus on risk management, compliance, and execution efficiency.”

As China’s derivatives market continue to evolve, SFSPL is strongly positioned to support clients looking to deepen their involvement in this high-potential market.

SFSPL remains committed to delivering robust trading capabilities, seamless market access, and trusted expertise to help clients navigate global investment opportunities.

About Straits Financial Services Pte Ltd

At Straits Financial Services Pte Ltd, we distinguish ourselves by promoting key and innovative contracts to support the financial and commodity derivative markets as well as providing products and services to fulfill the needs of every trader.

With a strong presence in Asia and a deep understanding of the global markets, we provide value to our clients by enabling global access with a local perspective. Established in 2010, Straits Financial Services Pte Ltd is part of Straits Financial Group which is headquartered in Singapore.

Straits Financial Services Pte Ltd provides a fully-integrated service for our clients to access the financial and commodity derivative markets and we strive to build lasting relationships with our clients.

For more information, please visit our website at https://www.straitsfinancial.com.

This document is issued for information purposes only. This document is not intended and should not under any circumstances to be construed as an offer or solicitation to buy or sell, nor financial advice or recommendation in relation to any capital market product. All the information contained herein is based on publicly available information and has been obtained from sources that Straits Financial Services Pte Ltd believes to be reliable and correct at the time of publishing this document.

Straits Financial Services Pte Ltd will not be liable for any loss or damage of any kind (whether direct, indirect or consequential losses or other economic loss of any kind) suffered due to any omission, error, inaccuracy, incompleteness, or otherwise, any reliance on such information. Past performance or historical record of futures contracts, derivatives contracts, and commodities is not indicative of the future performance. The information in this document is subject to change without notice.

If after reading the foregoing content you have any doubts in relation thereto, please consult your own independent legal, financial and/or professional adviser.

View original content:https://www.prnewswire.com/apac/news-releases/straits-financial-services-pte-ltd-granted-overseas-intermediary-futures-broker-status-by-shanghai-futures-exchange-and-guangzhou-futures-exchange-302752994.html

SOURCE Straits Financial

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