On the Mend: Behind WhiteSource’s New Name and Direction

The Boston- and Tel Aviv-based company formerly known as WhiteSource has a new name and a new vision for its services. The company, now rebranded as Mend, is focusing on security in what CEO Rami Sass has labeled a “new journey” as a “bigger and different” organization that offers the “industry’s first automated remediation for custom code security issues.”

Whitesource, founded in 2011, first made its name as an open-source software composition analysis firm. Mend, by contrast, will offer a comprehensive integrated security platform intended to be broadly applicable to the variety of cyberattacks that can threaten modern companies.

Over the past year, Mend has raised a total of over $75 million in funding to fuel its evolution into a cutting-edge security firm, a process which included the acquisition of Croatia’s DefenseCode and Germany’s Xanitizer, both firms with proven track records in cybersecurity. Mend has also highlighted its intention to further develop its channel relationships, including with other reputable cybersecurity companies, such as GuidePoint Security and Defy Security.

Mend’s current financial figures are unknown, but the company claims an over 800 percent growth in revenue during the last three years. In the same period, it claims to have added over 350 new customers. Mend currently serves over 1,000 customers, about 25 percent of which are Fortune 100 entities according to the company’s latest statements.

In a recent press release, Mend described how cyber attackers increasingly target applications as the main vulnerability of large organizations, which puts a lot of pressure on the security industry to deliver more effective software at a faster rate. Mend’s services are intended to automatically reduce harm from attacks on the software side, secure the application, and buy developers time to deploy solutions.

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Co Founder & Co CEO AccelOne / Founder & President Axigma Training Company

With more than 30 years’ experience in the IT industry, Mario is a seasoned professional with proven capabilities and a strong understanding of local market. He has held various executive positions, both locally and regional, and as such has gained extensive knowledge in sales, operations, business controls, strategy, business transformation and leadership. He counts with deeply experience in start-ups and is a devote entrepreneur passionate about innovation, transformation and technology. This experience, combined with his deep industry knowledge, positions him perfectly to deliver his digital transformation ambitions in America, thereby empowering governments, organizations and individuals to achieve more.
Mario is renowned for building a strong education company in Argentina, (Axigma) an SAP Education Partner and Salesforce Trailhead Academy Authorized Training Provider. He is oriented on high-performing teams that consistently deliver on their financial targets, while also bringing innovative digital solutions to his partners and customers. He is recognized for strength in developing people and creating an environment where everyone can do their best work.
Mario loves fencing. He was several times Argentina National Champion, South America National Team Champion, He participated in many International events, Fencing World Cups, and was member of the National Team for +12years.

How Small Businesses Can Benefit from Digital Currencies

The ongoing discourse over digital currencies tends to focus on two groups—the retail traders who bet on the market and make it big, or the institutional investors who represent a legitimization of the once-fringe notion of cryptocurrency.notion of cryptocurrency. But there is one crucial sector of the US economy that is often overlooked in the digital currency debate—small businesses.

Small businesses deal with many issues. Most operate on razor-thin margins, with cash flow issues that leave employees and owners vulnerable to economic fluctuations. They also have less leverage with financial institutions than large companies—they pay higher merchant fees to credit card companies and are less likely to secure loans. All these issues could be significantly improved by faster, more cost-effective digital payment systems.

These businesses are unlikely to want to risk it all on the more volatile speculative cryptocurrencies. Instead, stablecoins and central bank digital currencies (CBDCs), which have a fixed fiat value, can be used. Digital asset payment systems are fast and efficient compared to existing systems such as SWIFT, especially when it comes to cross-border payments. These can be critical to the kind of family-run business favored by immigrants, who may have suppliers in another country or send remittances abroad. These are a traditional way for minorities to achieve upward social mobility and inclusion and are a vital part of communities all over the country.

The recent pandemic and accompanying disruption of global payment and supply chains pressed small businesses the most, and communities realized just how vulnerable their cafes, dry cleaners, plumbers, etc., were in the face of payment delays. A stable digital currency, backed and guaranteed by the government, could greatly benefit small businesses the most in terms of lower costs and easier access to funds. They shouldn’t be left out of the discussion.

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Co Founder & Co CEO AccelOne / Founder & President Axigma Training Company

With more than 30 years’ experience in the IT industry, Mario is a seasoned professional with proven capabilities and a strong understanding of local market. He has held various executive positions, both locally and regional, and as such has gained extensive knowledge in sales, operations, business controls, strategy, business transformation and leadership. He counts with deeply experience in start-ups and is a devote entrepreneur passionate about innovation, transformation and technology. This experience, combined with his deep industry knowledge, positions him perfectly to deliver his digital transformation ambitions in America, thereby empowering governments, organizations and individuals to achieve more.
Mario is renowned for building a strong education company in Argentina, (Axigma) an SAP Education Partner and Salesforce Trailhead Academy Authorized Training Provider. He is oriented on high-performing teams that consistently deliver on their financial targets, while also bringing innovative digital solutions to his partners and customers. He is recognized for strength in developing people and creating an environment where everyone can do their best work.
Mario loves fencing. He was several times Argentina National Champion, South America National Team Champion, He participated in many International events, Fencing World Cups, and was member of the National Team for +12years.

The Top 50 Financial Technology CEOs of 2022

We are pleased to announce that our CEO, Scott Craig has been recognized as one of The Top 50 Financial Technology CEOs of 2022 in The Financial Technology Report. This year’s awardees represent some of the most accomplished and innovative leaders across the sector. These executives and their companies are changing the way technology enhances and automates the delivery of financial services including lending, personal finance, equity financing, consumer banking and other areas.

From a collection of impressive nominees, these fintech executives were selected for their proven ability to lead others, expertise, and impact on the ever-changing industry. Please join us in celebrating the achievements of this year’s Top 50 Financial Technology CEOs of 2022.

Congratulations, Scott. Well deserved!

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CEO, AccelOne

As Chief Executive Officer of AccelOne, I feel very fortunate to lead a team of consummate professionals in the field of software development services which are delivered out of Argentina and the US. My operating experience spans industries which include venture capital, private equity, advertising/ publishing, search engine marketing and social media. I have built, trained and led sales and marketing teams from scratch which have gone on to become Fastest Growing companies per both Inc, magazine and Puget Sound Business Journal.
Specialties: IT & Software Development Outsourcing, IT and Software Development Staffing, IT and Software Contracting and Consulting, Software Project Management and Development, ecommerce, publishing, media, Distributed Teams, Nearshore, Offshore, Argentina, Agile, Mobile applications, Android, Apple, iOS, Windows, Tablet apps.

Challenges with Combining DeFi Crypto Software with Banking Protocols

DeFi is disrupting and recreating traditional financial systems, like banks and stock exchanges, with blockchain technology and cryptocurrency. With DeFi, anyone can access financial products, like loans, that before they could only access through banks, brokerages, and other financial institutions. Put simply, DeFi is a peer-to-peer financial system that omits the middleman and runs on software alone.

While DeFi offers tremendous benefits to institutional investors and individual investors, there are some challenges when it comes to merging DeFi with banking protocols.

How is DeFi Cryptocurrency Different from Traditional Banking Protocols?

With traditional banks and financial institutions, borrowers are required to comply with barriers to entry, such as credit score and income. In contrast, DeFi operates without a central banking service that exercises authority and control over transactions. DeFi applications are most commonly used for borrowing and lending, and, today, the most commonly used borrowing and lending protocol is the Compound crypto token. But there are a multitude of options for using DeFi that are much more complex; for example, becoming a liquidity provider to a decentralized exchange.

While DeFi lending does include interest rates and barriers to entry, they are generally much more attractive than those of traditional banks. For example, in order to take out a DeFi loan, users can provide crypto assets, such as NFTs(non-fungible tokens), as collateral.

What Are the Challenges of Combining DeFi Software with Banking Protocols?

Given the nature of DeFi platforms, there are several technological and compliance challenges associated with operating DeFi with banking protocols, including:

Making DeFi Integrations Secure

Smart contracts are based on logic created with code that carries out a set of instructions on the blockchain interpreter. Smart contracts are the core for DeFi applications to run. Any error in those pieces of code can potentially represent weaknesses within a DeFi protocol. This is usually prevented with an auditory from a specialized firm in the market that performs a full QA of the smart contracts and confirms if it is ready and secure for a production environment.

Making DeFi Integrations Fully Transactional

Currently, DeFi blockchains are unable to handle large volumes of transactions. For example, Ethereum, the most popular DeFi blockchain, can only manage approximately 13 transactions per second, while Visa can manage approximately 1,700 transactions per second. The amount of computing it takes to conduct transactions on the blockchain drives up fees, consumes large quantities of energy, and bogs down the network, causing transaction delays. DeFi needs to find a solution to latency in order to achieve nearly-instantaneous transactions and therefore to be integrated into centralized finance.

Compatibility with Banking Compliance and Regulations

Lack of regulations in the DeFi sector means that borrowers and lenders do not have the same protection as they do with intermediaries that do comply with government regulations. There is no risk management and there is no protection against loss of funds.

Selecting the Right Blockchain

When choosing which blockchain to use for crypto DeFi integrations, consider the following criteria:

  • Who are the big-name players that control it?
  • Is there a large community of consumers using it?
  • Is there a large volume of transactions occurring on it?

Assembling the Right Team

To successfully integrate DeFi software with banking protocols, you’ll need to assemble an experienced and knowledgeable team. Your team should consist of a blockchain architect, integration engineers, and QA engineers who are specialized in DeFi/exchange/bank-integrated platforms.

DeFi Software Development and Integrations at AccelOne

At AccelOne, we’re experienced in creating integrations with exchanges, banks, and DeFi for managed wallets and trading platforms. A key factor in successful integrations is proven previous experience and success from well-established players In the market.

To learn more about how we can help you achieve your goals for DeFi integrations with our nearshore software development team or to schedule a consultation, contact us online or call 800.863.6814.

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team-mario-aguero

Co Founder & Co CEO AccelOne / Founder & President Axigma Training Company

With more than 30 years’ experience in the IT industry, Mario is a seasoned professional with proven capabilities and a strong understanding of local market. He has held various executive positions, both locally and regional, and as such has gained extensive knowledge in sales, operations, business controls, strategy, business transformation and leadership. He counts with deeply experience in start-ups and is a devote entrepreneur passionate about innovation, transformation and technology. This experience, combined with his deep industry knowledge, positions him perfectly to deliver his digital transformation ambitions in America, thereby empowering governments, organizations and individuals to achieve more.
Mario is renowned for building a strong education company in Argentina, (Axigma) an SAP Education Partner and Salesforce Trailhead Academy Authorized Training Provider. He is oriented on high-performing teams that consistently deliver on their financial targets, while also bringing innovative digital solutions to his partners and customers. He is recognized for strength in developing people and creating an environment where everyone can do their best work.
Mario loves fencing. He was several times Argentina National Champion, South America National Team Champion, He participated in many International events, Fencing World Cups, and was member of the National Team for +12years.

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