Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Finland
  4. Nasdaq Helsinki
  5. Wärtsilä Oyj
  6. News
  7. Summary
    WRT1V   FI0009003727

WÄRTSILÄ OYJ

(WRT1V)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Wärtsilä Oyj : Wärtsilä wins the Adam Smith Award for best risk management solution with bank account pre-validation service

06/14/2021 | 07:04am EDT

The technology group Wärtsilä has received the highly valued Adam Smith Award 2021 in the Best Risk Management Solution category by Treasury Today. The Adam Smith Awards are widely recognised as the ultimate benchmark for corporate treasury achievement. Wärtsilä's winning solution was for its innovative Bank Account Pre-validation service to prevent payment fraud attempts.

Developed in cooperation with the Nordic banking group Nordea, the digital 'Beneficiary Account Validation' service provides an effective means for companies to validate their international suppliers' bank account ownership from the account holding bank before changing payment instructions or adding a new supplier. It adds an extra layer of security to the account verification process, thereby reducing the risk of fraud.

'As a global corporation, handling transactions from around the world, we are constantly exploring ways to use advanced technologies for preventing fraud. For example, being fooled into making changes to vendor master data in our SAP system would be a massive problem, as we pay numerous invoices on a weekly basis to the same suppliers. Eliminating this risk motivated us to collaborate with Nordea in finding new ways to validate supplier accounts,' says Jarmo Nurmi, Corporate Treasurer at Wärtsilä.

API's enable two applications to directly communicate with each other and exchange data. The 'Beneficiary Account Validation' service works by connecting Wärtsilä's system directly with Nordea's, thus enabling data related to bank account validation to be shared. The content of the API query is automatically transferred by Nordea into a SWIFT message, which is then transmitted to the beneficiary's (i.e. the supplier's) bank. The solution is seen as an effective defence against cyber-crime.

Wärtsilä has utilised digitalised processes for a number of years already in optimising overall workflows. In 2019, the company was awarded the EuroFinance Treasury Excellence Award for digital transformation & technology implementation in recognition of its innovative development of Robotic Process Automation (RPA) in Finance.

Read more about this by Nordea: https://insights.nordea.com/en/business/automating-beneficiary-account-validation-with-wartsila/

Media contacts for more information on this release:

Jarmo Nurmi
Corporate Treasurer
Group Treasury and Financial Services
Wärtsilä Corporation
Tel. +358 50 329 7029
jarmo.nurmi@wartsila.com

Sari Luhanka
Manager, Global Media Relations
Wärtsilä Corporation
Tel. +358 10 709 5774
sari.luhanka@wartsila.com

Image caption: Wärtsilä won the Adam Smith Award 2021 of TreasuryToday in the Best Risk Management Solution category with the Bank Account Pre-validation service. ©Treasury Today Group

All Wärtsilä releases are available at https://www.wartsila.com/media/news-releasesand at http://news.cision.com/wartsila-corporationwhere also the images can be downloaded.Wärtsilä in brief:
Wärtsilä is a global leader in smart technologies and complete lifecycle solutions for the marine and energy markets. By emphasising sustainable innovation, total efficiency and data analytics, Wärtsilä maximises the environmental and economic performance of the vessels and power plants of its customers. In 2020, Wärtsilä's net sales totalled EUR 4.6 billion with approximately 18,000 employees. The company has operations in over 200 locations in more than 70 countries around the world. Wärtsilä is listed on Nasdaq Helsinki.

www.wartsila.com

Disclaimer

Wärtsilä Oyj published this content on 14 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 June 2021 11:03:00 UTC.


© Publicnow 2021
All news about WÄRTSILÄ OYJ
07/23WÄRTSILÄ OYJ : Wärtsilä to provide thrusters for two Chinese wind farm turbine i..
PU
07/22WÄRTSILÄ OYJ : Wärtsilä engines running on hydrogen blends selected for Keppel O..
PU
07/21WÄRTSILÄ CORPORATION - MANAGER'S TRA : Agnevall, Håkan
AQ
07/20GLOBAL MARKETS LIVE : LVMH, Apple, Microsoft, ABB, SoftwareOne...
07/20WÄRTSILÄ OYJ : Wärtsilä Expects Growth in Q3 Demand But Outlook Still Uncertain
MT
07/20WÄRTSILÄ OYJ : Wärtsilä's Half Year Financial Report January–June 2021
PU
07/20WÄRTSILÄ OYJ : Wärtsilä's Half Year Financial Report January-June 2021
AQ
07/20Tranche Update on Wärtsilä Oyj Abp's Equity Buyback Plan announced on April 2..
CI
07/20Wärtsilä Oyj Abp Reports Earnings Results for the Second Quarter Ended June 3..
CI
07/19WÄRTSILÄ OYJ : Wärtsilä Wins Supply Contract For EDF Renewables Unit's Energy Pr..
MT
More news
Financials
Sales 2021 4 520 M 5 340 M 5 340 M
Net income 2021 217 M 257 M 257 M
Net Debt 2021 308 M 364 M 364 M
P/E ratio 2021 35,0x
Yield 2021 2,08%
Capitalization 7 538 M 8 919 M 8 905 M
EV / Sales 2021 1,74x
EV / Sales 2022 1,58x
Nbr of Employees 17 386
Free-Float 77,1%
Chart WÄRTSILÄ OYJ
Duration : Period :
Wärtsilä Oyj Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends WÄRTSILÄ OYJ
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 17
Last Close Price 12,78 €
Average target price 11,83 €
Spread / Average Target -7,40%
EPS Revisions
Managers and Directors
Håkan Agnevall President & Chief Executive Officer
Arjen Berends Chief Financial Officer & Executive VP
Thomas Johnstone Chairman
Sari Kolu Compliance Director
Outi Maarit Aarni-Sirviö Independent Director
Sector and Competitors
1st jan.Capi. (M$)
WÄRTSILÄ OYJ56.26%8 874
ATLAS COPCO AB38.97%78 293
FANUC CORPORATION0.43%44 091
PARKER-HANNIFIN CORPORATION13.52%39 908
STANLEY BLACK & DECKER, INC.15.36%33 265
SANDVIK AB12.67%32 974