FinTech Buzz

FinTech Buzz

Fintech has redefined the banking and financial services to the next level. With the regular emerging trends surrounding the fintech arena

Followers 0
Following 0
FR
Northern Trust (Nasdaq: NTRS) has further expanded its market footprint across the global insurance sector with three new mandates from European-based insurers.Northern Trust will provide a broad range of asset servicing solutions to Hannover Re, Aioi Nissay Dowa Insurance (AND-E) and the Medical and Dental Defence Union of Scotland (MDDUS).These clients appointed Northern Trust in the first quarter of 2020 and were on-boarded before the end of June.“Northern Trust continues to actively grow its insurance and re-insurance client base across the globe,” said Mark Austin, head of UK, Institutional Investor Group, Northern Trust.“Our history of financial stability, expertise and continuous investment in technology strongly aligns with insurance companies’ requirements for heightened efficiency, transparency and risk management across their investments.These appointments, which add to our significant relationships with many of the world’s leading insurance organizations, highlight our experience of the industry and how we work with insurers to help them execute their business strategies.”Hannover Re is one of the world’s largest reinsurers, with a gross written premium of more than €22 billion as of 31 December 2019.Northern Trust is providing the Germany-headquartered company with collateral management services for its longevity risk transfer business, and global custody services for the safekeeping and administration of its assets.Gerhard Lubitz, general manager for corporate finance and collateral management at Hannover Re said: “We required an asset servicing provider with expertise in supporting longevity collateral management and risk transfer activities for the insurance industry.Northern Trust fits that criteria and, as a new client, has impressed us with their understanding of our requirements throughout our on-boarding processes.”AND-E is a European subsidiary of the Japanese insurance Group MS, operating in the UK and the European Economic Area.
FR
Utilising Marqeta’s instant card issuing capabilities, the digital wallet will offer a range of personal finance features, including the ability to issue a mobile ready debit card that can connect to mobile payment apps, starting with Google Pay, and Apple Pay and Samsung Pay coming soon.YAPEAL will help its customers, Yapsters, to intelligently manage money through budgeting tools and provide access to multiple currencies.“Taking a week to be able to open a bank account and receive a debit card is just too long in today’s digital world.With the help of Marqeta, our customers can now set up an account and begin using their debit cards to shop online in just minutes.The Swiss banking sector has long been lagging behind other areas; banking innovations haven’t kept pace with the infrastructure in other industries, like leisure and retail.This is the gap that we are looking to close with our new, disruptive digital wallet,” said Daniel Capraro, Co-Founder and Chief Product Officer, YAPEAL.With Marqeta, we created the entire offering process in two and a half months, one that would have taken eighteen months with other providers.
3
FR
OneConnect Financial Technology Co., Ltd. (“OneConnect” or the “Company”) (NYSE: OCFT) has signed a strategic cooperation framework agreement with the Hainan Local Financial Supervision Administration to develop smart financial and smart supervision services in the island province of Hainan, as well as the financial sector in Hainan Free Trade Port.Fintech NewsYe Wangchun, Chairman and CEO of OneConnect, said that through bilateral cooperation, the two parties will strengthen risk prevention and control of Hainan government data in the China’s largest free trade port, ensuring information is secure, well-regulated, and manageable.“We will establish a world-leading integrated smart financial services platform for Hainan Province, utilizing the latest fintech infrastructure projects to build the free trade port and expand its global reach,” Ye said.OneConnect will help the Hainan Local Financial Supervision Administration develop smart financial and smart supervision service systems in Hainan, pursue innovative development of financial institutions and enable efficient local financial supervision.The partners are committed to implementing integrated smart financial service systems, digitizing local financial supervision systems, consolidating multi-level fintech cooperation, and exploring Central Bank Digital Currency (CBDC) applications in Hainan to build a thriving financial sector in Hainan Free Trade Port.OneConnect, an associate of Ping An Group, is a world-leading technology service platform for financial institutions in China and provides comprehensive end-to-end solutions for banks, insurers, and investment managers by integrating extensive financial service experience with market-leading technology.The Company enables customers to manage risks, enhance service quality, improve efficiency, increase revenue and reduce costs in their digital transformations.As of December 31, 2019, the Company served 47 international customers in 14 markets.OneConnect, along with China Eastern, Shenzhen Stock Exchange and French energy company EDF signed contracts for 35 key projects (27 Chinese projects and eight foreign-funded projects) at a contract signing ceremony in Hainan Province’s capital city, Haikou, in June.These projects cover free trade port construction, industrial development, and public services. 
1
US
RecVue, Inc., the next generation order-to-cash automation platform powering the Anything-as-a-Service (XaaS) economy, has announced it has entered into a strategic partnership with Effectus Group, a leading consulting firm with practice areas that include technical accounting, IPO services, transaction advisory services, and financial operations.Fintech NewsEffectus Group’s domain expertise in revenue management solutions and financial operations is in high demand as enterprises look to modernize their order-to-cash business processes.Effectus Group’s consulting experts are well versed in the latest changes in financial reporting as it relates to revenue recognition.They have extensive experience implementing technology to support revenue recognition and compliance requirements in some of the most well known and innovative companies.With a broad set of technical accounting services, Effectus Group can help organizations deliver on their digital transformation and financial operations goals.Their consultants all come from the Big4 accounting firms and are leaders in their field.“RecVue has developed a superior monetization platform that processes large volumes of billings data, while maintaining strict compliance with the new revenue standard,” said Mike Montgomery, CEO and Managing Partner, Effectus Group.“This combination is critical for our clients as it allows clients to scale financial operations quickly and efficiently.
2
US
Citi, acting through Citibank N.A., has been appointed by Amryt Pharma Plc (“Amryt”) – a global, commercial-stage biopharmaceutical company dedicated to commercializing and developing novel therapeutics to treat patients suffering from serious and life-threatening rare diseases – to act as depositary bank for its American Depositary Receipt (“ADR”) programme.Amryt’s American Depositary Shares (“ADS”) trade on the Nasdaq Global Select market under the symbol “AMYT”.Each ADS represents five ordinary shares of the company.Amryt’s underlying ordinary shares are listed and trade on AIM, a market operated by the London Stock Exchange, under the symbol “AMYT”, and on Euronext Growth, a market regulated by Euronext Growth Market Dublin, under the symbol “AYP.”Joe Wiley, CEO of Amryt, commented: “Listing on Nasdaq is a very important milestone for Amryt and will provide us with the opportunity to improve underlying liquidity in our shares, target a wider investor audience and increase our analyst coverage.With nearly 70% of our shareholders based in North America, listing on Nasdaq is an important part of our shareholder engagement and development plans.Furthermore, we believe our Nasdaq listing will significantly assist our efforts to drive value for all our stakeholders.Commenting on the appointment, Dirk Jones, Global Head of Issuer Services, at Citi said: “We look forward to supporting Amryt’s ADR programme and expanding the company’s investor outreach through the expertise of our leading Investor Relations Advisory team and the breadth of our global equity distribution network.” 
US
Billhighway, the leading financial management platform serving component-based organizations, is proud to announce the launch of a new integration with ePly, an innovative conference management software company.The collaborative solution provides chapters with the functionality to optimize events while seamlessly integrating real-time financial management capabilities.ePly, a MemberClicks company, streamlines event processes for conferences, workshops, and galas serving more than 800 organizations across North America.Backed by their industry-savvy support team, ePly ensures events are organized and financially successful with easy-to-use event planning, promotion, execution, and evaluation tools.Offering key features including a form builder, custom conference app, and attendee data management, ePly is expertly designed with associations in mind.Fintech News“The ePly team brings extensive event management experience to the unique demands of chapter-based associations,” said MemberClicks CEO, Mark Sedgley.“Our mission is to empower users with full-service, reliable technology so they can spend more of their valuable time maximizing their event success.”The end-to-end integration allows clients to leverage ePly’s suite of event management tools while ensuring funds and financial data are automatically processed with Billhighway’s chapter banking platform.Chapters can manage their event revenue and other chapter finances all in one place, allowing for data-driven decisions and accurate financial reporting at the touch of their fingertips.“Events are a critical value-add for our clients, but often chapters are working with limited time and resources,” said Billhighway Director of Growth, Mark Prevost.
US
CaseWare RCM, a provider of compliance and financial crime prevention solutions, is pleased to announce that Grasshopper Bank has selected Alessa with Thomson Reuters CLEAR ID Confirm and Refinitiv World-Check to meet its know your customer (KYC), customer identification program (CIP), sanctions and watch list screening, transaction monitoring and regulatory reporting obligations of its anti-money laundering (AML) compliance program.Grasshopper Bank is a nationally chartered digital commercial bank for the innovation economy, supporting entrepreneurs, their companies and the venture capital firms that fund such companies.“We are an innovative bank that is disrupting business banking,” said Grasshopper Bank’s Sally Myers, Chief Risk Officer.“The decision to use Alessa stems from our commitment to deliver a true digital banking experience for our clients while still building an effective compliance program to prevent money laundering or the financing of terrorist activities.”According to Andrew Simpson, Chief Operating Officer at CaseWare RCM, Grasshopper Bank was looking for a comprehensive, cloud-based AML solution that could offer identity verification, sanctions and watch lists screening, transaction monitoring and SAR/CTR reporting to FinCEN.“Since Alessa has invested in a number of integrations to complement its core AML capabilities, it is able to provide services like identity verification with Thomson Reuters CLEAR ID Confirm and screening and due diligence with Refinitiv World-Check as part of its offering – all in the Microsoft Azure cloud.”Alessa is trusted by banks, MSBs and fintechs to meet their anti-money laundering and other regulatory and compliance needs.Alessa is consistently chosen because it is a versatile and modular solution that easily integrates with existing infrastructure, and scales with organizations as their size and needs grow. 
1
US
SIMON Annuities and Insurance Services LLC (“SIMON”) is pleased to introduce Allianz Life Insurance Company of North America (“Allianz Life”)—a leading provider of annuities in the U.S.—to its annuities platform and digital marketplace for Raymond James wealth managers.Expanding SIMON’s Marketplace with the onboarding of Allianz Life delivers not only a broader selection of annuities products to Raymond James advisors on SIMON’s platform, but also the depth of analytics they seek to effectively serve the wealth management and retirement needs of their clients.Raymond James advisors can now seamlessly find and explore Allianz Life’s annuity products and features, run powerful allocation and income analytics within these products, and access product-specific marketing literature—all from directly within SIMON’s interactive platform.Fintech NewsCorey Walther, President of Allianz Life Financial Services, commented: “Allianz Life is committed to helping advisors better serve their clients so they are able to attain their retirement goals.SIMON gives advisors the tools they need to help them incorporate protection and retirement income into client portfolios more effectively, leading to better outcomes.”Jason Broder, CEO of SIMON, added: “SIMON is proud that industry leaders like Allianz Life recognize the value our platform delivers.We are excited about the partnership and look forward to supporting their annuity products with robust analytics that showcase their power as retirement savings vehicles.”Scott Stolz, President of Raymond James Insurance Group, who has played an integral role in the SIMON Annuities roll out to all Raymond James advisors earlier this year added: “SIMON greatly simplifies all required annuity education by combining it together into a single, easy to use platform that resides on each of our advisors’ desktop.With Allianz joining the SIMON platform, our advisors now also have access to tools within the Marketplace that will help them decide which of the many potential Allianz annuity solutions will best meet their clients’ financial objectives.More importantly, we’re excited about the fact that the SIMON platform is quickly evolving into the premier annuity tool in the industry.” For more information on Raymond James, please visit www.raymondjames.com.SIMON specializes in an innovative, modern approach to education and analytics for structured investment and insurance solutions, delivering end-to-end education, marketplace, and lifecycle management so advisors can help clients accomplish their life and legacy goals. 
1
FR
E-commerce has reached new heights around the world, as more consumers are going online to make secure, touch-free purchases across various merchants and platforms.Today, American Express, Discover, Mastercard and Visa announced they are each beginning technical preparations for global expansion of the Click to Pay online checkout – based on the EMV® Secure Remote Commerce industry standard – in additional geographies including Australia, Brazil, Canada, Hong Kong, Ireland, Kuwait, Malaysia, Mexico, New Zealand, Qatar, Saudi Arabia, Singapore, United Arab Emirates and the United Kingdom, with others to follow.Fintech NewsClick to Pay aims to make the online checkout simple and secure for consumers across web and mobile sites, mobile apps and connected devices by replacing time-consuming key entry of personal account numbers and information at checkout.The advanced digital checkout solution mirrors the consistent, interoperable checkout experience in physical stores – with one terminal to accept all card payments.Since then, more than 10,000 merchants have been enabling their customers with the option to click to pay including Cinemark, Crate & Barrel, Expedia, Fresh Direct, Jo-Ann Fabric and Crafts, Joseph A.Bank, the marketplace division of Rakuten U.S., Saks Fifth Avenue and SHOP.com, among others.Additional notable merchants around the world that are committed to supporting Click to Pay include Emirates, Mitre 10 (New Zealand) Ltd., Noel Leeming, 1-day, Pizza Hut Australia, The Warehouse, Torpedo7, Ticketek and Warehouse Stationery.
FR
Europe (“H.I.G.”), the European affiliate of H.I.G.Capital, a leading global private equity investment firm with more than €34 billion of equity capital under management, announced today the acquisition by an affiliate of a controlling stake in Project Informatica S.r.l.(the “Company”), a leading firm in the Italian information technology industry.Based in Stezzano (Bergamo), with revenues of more than €130 million and 230 employees, Project Informatica was founded in 1990 and has grown significantly over recent years, becoming the technological partner of choice to a long list of leading private and public companies.Fintech NewsThe Company leverages cutting-edge technologies and advanced capabilities to support its customers in the digital transformation of business processes.Its offering ranges from hardware and software solutions, to related IT services.With multiple partnerships with leading global vendors and a technical staff with over 1,750 certifications, the Company is able to provide a tailor-made IT service to customers in a wide range of industries, including banking and financial services, industrial manufacturing and business services.H.I.G.has extensive experience in the IT industry, with 30 transactions completed globally, and intends to support Project Informatica in the next phase of development, with the aim of capitalizing on both organic and inorganic growth opportunities.Alberto Ghisleni, founder, CEO, and current shareholder of Project Informatica who will reinvest alongside H.I.G.
1
OM
This year, the financial sector is facing significant upheaval as a result of the coronavirus pandemic.But even before the virus’s spread began to inflict serious damage on nations’ economies, banking institutions were set for a challenging year.Low interest rates are here to stay, the shadow banking sector continues to grow and consumers are expecting more and more of banks’ digital services.Banks’ ability to adopt new technologies and maintain strong customer relations matters now more than ever.It’s the firms who understand and embody this that World Finance is celebrating in its 2020 Banking Awards.The financial institutions named in the magazine’s listing have all proven themselves to be among the most innovative players in their industry, expertly deploying technology to cope with the disruption caused by the pandemic.In particular, banks that have embraced open banking find themselves at an advantage, as the ability to share information with third parties provides a brilliant opportunity to launch new products and collaborate with other firms.While updating their technological infrastructure, firms must pay heed to implementing new defence protocols.
1
FR
NewB, the Belgian ethical bank, has selected Wolters Kluwer’s OneSumX for Risk Management to manage its Asset and Liability Management (ALM) requirements as well as its liquidity risk.The ALM component of OneSumX for Risk Management is based on Wolters Kluwer’s integrated platform, enabling balance sheet modeling, stress testing and dynamic planning.OneSumX Liquidity Risk Management, meanwhile, introduces a risk management, stress engine and regulatory reporting platform to help firms monitor, manage and report on liquidity risk.To achieve this, financial instruments are mapped into the solution, and strategies and stress scenarios can be performed to identify the impact to both market and funding liquidity.“The goal of NewB is to offer simple and transparent banking services which follow the principles of sustainability and ethics.As such we require highly reliable and intuitive technology to ensure we manage our risk profile,” commented Jean-Christophe Vanhuysse, Executive Director at NewB.“Wolters Kluwer has an excellent reputation in the ALM and liquidity areas and so the company’s award-winning technology offers an excellent fit for us.”“We continue to attract a range of clients across Benelux and beyond – not just for our risk offerings, but across all finance, risk and reporting areas,” said Kris Van Bavel, Managing Director of Wolters Kluwer’s Finance, Risk & Reporting (FRR) business in EMEA.“We are very much looking forward to working with NewB’s talented team on the implementation.”Wolters Kluwer FRR, which is part of Wolters Kluwer’s Governance, Risk & Compliance (GRC) division, is a global market leader in the provision of integrated regulatory compliance and reporting solutions.
FR
Taulia, the leader in working capital technology solutions has today announced the appointment of Christian Lindemann as Director of Supply Chain Finance EMEA.Christian is based in Switzerland and will be the EMEA region’s Working Capital Solutions Expert.In an all-encompassing role, Christian will use his deep Supply Chain Finance knowledge to support the sales, marketing, and product organizations to further strengthen Taulia’s solutions and presence in the market.Christian joins Taulia with fourteen years of experience working in the banking and finance industry.He has previously worked at Macquarie Group in the Corporate and Asset Finance division.In 2008, he co-founded a financial services company, SCC Swiss Commercial Capital, which was later acquired by Macquarie Group.Christian holds a Master’s in Management from the University of Fribourg.Fintech NewsMichael Rieskamp, Managing Director, EMEA, “Christian joins us at a critical moment as we are rapidly growing in Europe.
1
FR
ezbob, an established technology provider that powers the digital SME lending arm of several UK banks has today announced that it has submitted its proposal for part of the BCR’s (Banking Competition Remedies) £100m Pool E.Tomer Guriel, Founder and CEO at ezbob, said: “We are delighted to submit a bid for the BCR Pool E funds which will allow us to provide our technology not only to banks but also to smaller financial institutions – who can benefit from our risk engine and expertise in lending – thereby providing SMEs more funding opportunities.I’m happy that the BCR has allocated 20% of the total BCR funds to Pool E recognizing the importance of technology as part of the much-needed digital transformation now even more necessary post COVID-19.”Since 2017, ezbob’s technology has been deployed at several UK high street banks and has processed in excess of £5 billion in SME loan applications, with over £1 billion of funds deployed to over 30,000 SMEs.“Our company’s DNA matches the BCR initiative which is to enable the digital transformation in banking in order to make sure SMEs can access capital in a fast and efficient manner.During COVID-19, ezbob played a pivotal role supporting tens of thousands of businesses in their need to access critical capital.We want to ensure that more financial institutions have ezbob’s technology so that more SMEs can apply for business funding (online).” Guriel added.ezbob’s technological solution enables financial institutions to become digital champions in weeks.Using our system, financial institutions can lend to any SME applicant via a 100% digital (online) process without the need for any paperwork.ezbob’s pioneering SME lending technology ecosystem includes API connectivity to over 40 data services including KYC, AML, Fraud, Open Banking, Credit Bureaus.This reduces the time it takes a business owner to complete a loan application to minutes.
FR
Grow Credit, a financial inclusion platform, today announced that Commerce Ventures, will be joining its seed funding round alongside lead investor Mucker Capital, and Minal Hasan, founder at K2 Global Ventures, who joined as an angel investor in addition to taking an advisory position.Commerce has invested in over 60 portfolio companies, including leading FinTech and retail technology startups such as Bill.com, Forter, Grabango, InAuth, Kasisto, Marqeta, and MX.“We are excited to be partnering with Dan Rosen and the Commerce team,” said Joe Bayen, CEO and founder at Grow Credit.“Commerce has a fantastic track record, and they are also investors in Marqeta, one of our closest technology partners, and they rapidly captured the strength of our value proposition for consumers, especially in the current economic environment.”Dan Rosen adds that “Commerce Ventures is thrilled to be partnering with Grow Credit and working with its fantastic team of employees, investors, and advisors to help improve credit access for those who need it the most.We are so impressed by Joe’s entrepreneurial energy and look forward to helping the company any way we can during the journey ahead.”The startup also announced that MRV Banks, one of the fastest-growing banks in Missouri, has become its latest bank partner.MRV will support a variety of financially inclusive products nationwide for Grow including its Build Membership.The plan gives consumers the ability to build or rebuild their credit score for free using new or existing subscriptions, including Netflix, Spotify, or Disney Plus.MRV Banks is expected to be more involved in the FinTech space in the coming years to take advantage of a shift in consumer behaviors, which favors banking on mobile applications at an increasingly higher rate.Greg Luehmann, President of Card Services at MRV, who is heading this initiative added that “At MRV, we are committed to supporting financially inclusive programs.That is why we are excited to be working with Grow and its free credit-building product, which is more needed than ever in the current crisis.” 
2
US
Over the past six months, the COVID-19 pandemic has heavily influenced the way businesses interact with each other.We have seen online solutions to physical problems skyrocket across sectors.Technology-driven and integrated payment systems are an integral part of this macro digital revolution.In the consumer world digital payment options, championed by consumer electronic leaders like Samsung, Apple and Google, have steadily gained traction since the inception of contactless technology in late 2014.When purchasing coffee at a local cafe, it is not uncommon for a customer to wave their smartphone or wearable across a point-of-sale terminal without thinking twice about the entire experience — funds flow uninterrupted in a matter of seconds between the customer and the business.Even peer-to-peer network models have surged in popularity since Venmo’s initial release in 2011.Fintech NewsHowever, the mainstream adoption of this connected interaction between buyers and sellers has been strikingly absent from the business-to-business (B2B) money transfer ecosystem.Until recently, digital payments have long been a supporting character to more familiar, traditional and ordinary methods — namely domestic ACH in the United States and international bank wire.The pandemic didn’t necessarily spur massive innovation and change in the context of business payments, but rather revealed and accelerated the popularity of digital solutions that savvy, early-adopters have been using to their advantage for the past 10 years.Accounting applications like Intuit’s Quickbooks, Oracle’s NetSuite and Xero layered with workflow automation tools like Zapier make sharing data and information — like invoices, contracts and purpose of payment details — an easy task.This harmony between business applications simplifies payment reconciliation for senders and receivers.In contrast, fragmented processes see payment and accounting systems as separate domains that require manual integration by both parties on either end of the transaction.
4
US
Thousands of pharmacies are to be offered material financial assistance thanks to a groundbreaking advanced payment system developed by Greensill, Britain’s leading fintech provider of working capital finance, and NHS Business Service Authority (NHSBSA).Greensill is using state of the art technologies and data analytics to forecast the value of prescriptions to be filled by a pharmacy, enabling payment a month in advance of the medicines being dispensed.This will allow pharmacies to pay for medicines instantly rather than signing up to costly finance terms offered by pharmaceutical companies or banks.The first of these payments was made this week to some 1,000 pharmacies Greensill works with across England.A further 10,000-plus pharmacies now have the option to use this advanced payment programme.The new approach delivers payments faster, in advance, and in a more streamlined process.Greensill has worked with over 1,000 pharmacies since July 2018, making more than £1.2 billion of supply chain finance payments a year to ensure these vital frontline community health providers are paid faster.Greensill’s new data enhanced payment programme identifies patterns in the way prescriptions are written to determine the value of medicines to be dispensed in a given period.Bill Crothers, Vice Chairman of Greensill, said: “Paying pharmacists in advance at ultra-low rates will help these vital businesses at a time when so many rely on the essential services and medication they provide.We are always delighted to be able to use our technology to remove finance costs from a supply chain but never more so than when we can support small businesses that play such a key role in supporting our nation’s health.”Martin Kelsall, Director of Primary Care Services at NHSBSA, said: “We are proud that English pharmacies can now receive, for the first time ever, payment in advance of dispensing medication.This ground-breaking, innovative service allows them to be paid in advance for the prescriptions they dispense to provide vital frontline community health care.
3
US
In an effort to support the restaurant industry as it rebounds from the impact of COVID-19, Discover announced today that it will be giving $5 million to Black-owned restaurants.From now through Oct. 31, 2020, consumers can go to Discover’s Facebook, Twitter and Instagram pages to nominate their favorite Black-owned restaurant, and 200 nominees will be randomly selected to receive $25,000*.Fintech NewsCOVID-19 has wreaked havoc on businesses across the United States, and we want to help effect positive change by offering financial support to Black-owned restaurants, a segment of the economy that has been disproportionately impacted during this pandemic,” said Julie Loeger, Discover Executive Vice President and President of U.S. Cards.“Through this campaign, people across the country can support their favorite Black-owned restaurants.By sharing the names of these establishments on social media, it not only helps promote these businesses, but it also nominates them for a chance to receive $25,000.”Nominations can be made on the following social media platforms:Twitter: Tweet and mention the restaurant’s name and @Discover, #EatItForward and #Sweepstakes.Facebook: Nominate a restaurant by tagging them in the comments section of a post where Discover is asking for nominations related to the $5 million commitment to Black-owned restaurant program.Instagram: Upload a photo taken by a user that is related to the nominated restaurant and tag @Discover, #EatItForward, #Sweepstakes and @ mention the restaurant’s Instagram account or restaurant name within the photo caption.Weekly drawings will start July 13, 2020, and will consist of 17 weekly entry periods, with the final drawing date taking place in November 2020.See the Official Rules for additional nomination and winner criteria at www.EatItForwardTerms.com.To launch the program, three Black-owned restaurants have been selected to receive $25,000 each – Back in the Day Bakery in Savannah, Georgia, Post Office Pies in Birmingham, Alabama, and Rodney Scott’s BBQ which has locations in both Birmingham and Charleston, South Carolina – and their stories will be featured in Discover’s communication channels in support of the #EatItForward program. 
1
US
ViaBTC Group, an innovative technology company specialized in blockchain and dedicated to providing users with comprehensive digital asset management services, today announced a new global partnership with Bitmain Supercomputing Center Research Institute (BSCI), the world’s leading one-stop supercomputing solution provider.ViaBTC mining pool and BSCI will together launch a professional mining resources platform which gathers a wide variety of information of mining machine sales, maintenance and operation, firmware and mining tools, and other resources.It’s worth mentioning that there will be a section including evaluations of mining machines and mining farms, as well as global mining maps.“It’s such a pleasure to be partnering with BSCI to launch this platform, which I believe will be a huge benefit to the industry,” said Haipo Yang, Founder and CEO of ViaBTC.“We promise thorough investigations into all resources shown on our platform, and you can find reliable parties for cooperation.”At present, the mining industry has involved with more segments emerging served by different parties, and tighter cooperation is needed.However, as there are so many tricks in the industry, it always takes high prices for one to find trusted partners.This platform will reduce both time and money costs.“Improving the industry transparency plays a major role in promoting the development of blockchain.This platform will effectively solve many problems related to mining machines and mining farms, allowing customers to avoid difficulties and tricks,” said Jianwei Fan, Head of BSCI.As a leader in the industry, ViaBTC always bears miners’ benefits in mind.
1
US
Jianpu Technology Inc. (“Jianpu,” or the “Company”) (NYSE: JT), a leading independent open platform for discovery and recommendation of financial products in China, today announced that Mr. Daqing (David) Ye, the Co-founder, Chairman and Chief Executive Officer of the Company, was appointed as a vice chairman of the advisory board of Mobile Application Security Committee (“MASC”), a sub-committee of Mobile Smart Terminal Technology Innovation and Industry Alliance (“MTIA”).MTIA is a signature technology association founded by the China Academy of Information and Communications Technology.The MASC attracts a number of leading internet companies and FinTech companies, as well as seasoned industry experts, and is dedicated to building a secure, reliable, disciplined and compliance-oriented ecosystem for the healthy and sustainable development and operations of mobile applications in China.Mr.David Ye said, “It’s a great honor to be elected as the vice chairman of MASC, which is expected to play an important role in promoting the healthy development of the mobile internet industry.We appreciate such recognition by the regulators and industry participants of our consistent efforts to develop industry-wide standards and promote industry best practices, including defining guidelines for digital financial platforms, corporate responsibility and the product standards, as well as conducting consumer rights protection and education.Rong360 | Jianpu Technology always takes safeguarding user information and protecting user privacy as a paramount priority in our efforts to strengthen technology innovation and advancement.As we continue to fulfill our founding mission to become everyone’s financial partner, we are most willing to align with other renowned internet companies to foster a secure cyber environment for the sustainable development of mobile applications.
1
US
Itiviti, a leading technology and service provider to financial institutions worldwide, today announced that Elly Hardwick had been appointed to its board of directors to further growth and technology-driven innovation plans for the company.Elly has 25 years’ experience within Fintech, serving as Head of Innovation at Deutsche Bank, and, most recently, Chief Digital Officer of UBS.She commenced her career at the UK Department of Trade and Industry, focusing on Communications and Information Industries policy and subsequently held roles with Booz.Allen & Hamilton’s Tech, Media & Telco practice, and in the Institutional Equity Division of Morgan Stanley.Elly also previously held positions as Global Head of Professional Publishing and later Global Head of Strategy, Investment, and Advisory at Thomson Reuters (now Refinitiv), and served as the founding CEO of Fintech startup Credit Benchmark.Elly continues to serve as a Non-Executive Director with Axis Capital and Alpha Bank.“I am delighted to have Elly join the board of directors at Itiviti,” said Rob Mackay, CEO, Itiviti.“Elly’s extensive experience and knowledge within financial services technology innovation will be invaluable in helping us achieve both our aggressive growth plans and ambitions in continuing to be the vendor partner of choice for capital market firms’.“Elly’s skills and experience in digitalization and innovation are a perfect fit for us at Itiviti,” said Per E. Larsson, Chairman of the Board of Directors.
DE
Financial Gravity Companies Inc. (OTCQB: FGCO), in partnership with Applied Behavior Finance, Inc. (ABF), releases The Real Risk MeterTM, a new SaaS based tool for advisors in the wealth management industry that challenges Riskalyze, Finametrica, and other risk analysis tools.William Nelson, Co-Founder of ABF, acknowledged, “We know we’re taking on an 800-pound gorilla in Riskalyze, but real-life experience has shown us that Bear markets are a reality of life and investing.In our view, pretending Bears don’t exist is not the path to building real trust with clients.”Fintech NewsNelson explained, “There have been five S 500 downdrafts just in the last 20 years that exceeded Riskalyze assumptions.On average, every four years, clients have been hit with a bad surprise, and I’ve no doubt that some of them bailed on their stock portfolio.We want the client to be part of the decision making process, to take psychological ownership of their portfolio from the beginning.We believe that this process is the foundation of trust.”Applied Behavior Finance, Inc. (ABF) helps financial advisors provide prudent advice grounded in realistic capital market assumptions and behavioral expectations.
1
DE
Advisor Group, the nation’s largest network of independent wealth management firms, and Securities America today welcomed Oregon Community Credit Union (OCCU) to the Securities America Financial Institutions platform.The financial institution’s Investment Services team includes four licensed financial professionals who offer financial planning and wealth management services to credit union members at each of the institution’s 10 Oregon branches and oversee $340 million in client assets.OCCU has affiliated with Securities America through Priority Financial Group (PFG), a hybrid Registered Investment Advisor / Super-OSJ based in Phoenix that specializes in developing competitive, customized programs for financial institutions to grow their wealth management capabilities and improve operating efficiency.Securities America is part of Advisor Group, which also includes FSC Securities Corporation, Royal Alliance Associates, SagePoint Financial, Woodbury Financial Services, Triad Advisors, Investacorp, KMS Financial Services and Securities Service Network.Headquartered in Eugene, Ore., OCCU has eight branches in the Eugene / Springfield area and additional locations in Salem and Wilsonville.OCCU President & CEO Ron Neumann and his team have built a strong, trusted company that is actively expanding its ability to serve and assist its members.Along with Priority Financial Group, Securities America and Advisor Group stand ready to help OCCU’s Investment Services program take the next step in its growth and reach its full potential.”Priority Financial Group has over two decades of experience helping financial institutions build and strengthen their wealth management capabilities.The hybrid Registered Investment Advisor / Super-OSJ provides financial institutions at all stages of growth with expertise in the areas of compliance, operations and sales management.Priority Financial Group CEO Michael Prior said, “The future of banking and wealth management is evolving rapidly, and the way members engage with credit unions will look very different going forward.
1
FR
Merchants & Marine Bank (“M Bank”) a wholly owned subsidiary of Merchants & Marine Bancorp, Inc. (OTC QX: “MNMB”) today announced that M Bank and Bank OZK (NASDAQ: OZK) have entered into a definitive agreement for M Bank to acquire Bank OZK’s Mobile, Alabama office located at 6161 Airport Boulevard, Mobile, AL.As a part of the transaction, M Bank will assume all of the deposits of the Mobile office and acquire certain loans and other assets.Fintech NewsM Bank President & CEO Clayton Legear commented, “We are thrilled to have this opportunity to expand into the dynamic Mobile, Alabama market in such a meaningful way.M Bank has deep roots on the Gulf Coast, many of which run through Mobile.This acquisition will allow us to build on our already strong presence in neighboring areas as we seek to help M Bank, our clients, and the communities we call home thrive.We look forward to partnering with the talented group of bankers who will be joining our team through this transaction to serve the Mobile community.”The branch transaction is subject to approval by federal and state bank regulators and to satisfaction of other customary closing conditions.Once the transaction closes, the Mobile Bank OZK office will become an office of M Bank.
1
DE
OneConnect Financial Technology Co., Ltd. (“OneConnect Company” or the “Company”) (NYSE: OCFT), is now added to the FTSE Global Equity Index Series (GEIS), effective June 19, following the June 2020 quarterly review by global index compiler FTSE Russell.OneConnect Company is a world-leading technology service platform for financial institutions in China and provides comprehensive end-to-end solutions for banks, insurers, and investment managers by integrating extensive financial service experience with market-leading technology.The Company enables customers to manage risks, enhance service quality, improve efficiency, increase revenue and reduce costs in their digital transformations.As of December 31, 2019, the Company had served all of China’s major banks, 99% of its city commercial banks, and 46% of its insurance companies.Despite the COVID-19 and economic downturn in the first quarter, the Company’s revenue increased by 29.6% year-on-year, and third-party customer revenue increased by 50.4% year-on-year.Growth was driven by the Company’s five smart solutions – Smart Office Solutions, Intelligent Deposit Solutions, Intelligent Operation Solutions, Artificial Intelligence (AI) Sales and Risk Management Solutions – which were delivered to financial institutions during the COVID-19 epidemic to ensure smooth online operations.The Company’s gross margin expanded to 34.8% from 28.5% year-on-year.High-quality third-party customers contributed 46.4% of revenue.On May 23, FTSE Russell announced its June 2020 quarterly review results.
FR
HighRadius, a fintech enterprise Software-as-a-Service (SaaS) company specializing in automating the order-to-cash and treasury management processes, today announced further expansion in the EMEA region after posting triple-digit YoY growth.Driven by the increase in digital transformation projects in finance departments across the region, HighRadius has reported a 250% increase in bookings, 25 new customers, and a fourfold increase in employees in EMEA in the last 12 months.After establishing the first European presence in London in 2017, the new location in Frankfurt follows the opening of the Amsterdam office last year.The expansion into Germany will enable HighRadius to support more customers to accelerate their recovery from the impact of COVID-19.The pandemic has increased demand for agile and intelligent credit and collections solutions as organisations focus on maintaining cash flows and strengthening business resilience.“Frankfurt’s position in central Germany makes other parts of the country readily accessible, and its status as the financial center of the country opens up a gateway to a deep pool of talent and relevant partnerships,” said Jon Keating, HighRadius’ Vice President and General Manager, EMEA.Germany, along with Switzerland and Austria, present major market opportunities for HighRadius’ autonomous systems for accounts receivable and treasury processes.The office will be staffed with local experts across sales, pre-sales, marketing, and consulting teams. 
1
US
But thanks to technology, many organizers have moved towards a virtual celebration idea, like work from home arrangements.So when grand events can move online, then why can’t we plan a virtual office celebration, this Independence Day?This will also help in bringing us back to the office together.Even in these tough situations let us take some moment out to feel proud.Employees Feel ConnectedAbove image is a screenshot clicked during our team engagement session.In this situation where everyone is locked in their houses and are working remotely, in some way or the other, we started feeling lonely.Getting in contact with so many people at a time will eventually make you feel relaxed.And feeling connected in such situation is one of the most important factors for us as humans.Some Happy MomentsHere is another snap of Team HRTechCube sparing some time for relaxation.We are stuck in a condition where we are majorly surrounded by all the negative news.
3
US
You are correct, it’s the 4th of July, Independence Day in the U.S. Everybody is still excited and looking forward to it, despite the scenario being completely different from all the previous years.An article by Renegade Networks states that only 4% of the U.S citizens retire independently.The present generation aspires to be retired by 45-50 and keep on living an uncompromised life.This fund acts as a safety net during difficult times as such, when there might be a cash crunch and limited flow of income.So, to ensure that you are financially independent even during unprecedented situations, and not at the mercy of others, make sure that you keep adding on to this safety net of funds, which will catch you and supply enough money when there is a need.There are a variety of insurance deals available in the market that give you different coverage and if you cannot afford to pay a large sum at the moment, there are also some very creative deals that are also quite affordable.
2
US
Investing in anything requires a point of skill.You must understand that few investments are really a foregone conclusion you will find risking potential losing money!So to jump right in, it is not only important to study more about investing and exactly how everything works but also to figure out what your goals are.Here we will be comparing two significant ways of investment and find out which one is better.These firms can give clients financial planning services as well as consulting services.The majority of Investment banks specialize in financial transactions that are large and complex, such as acting as an intermediary between a securities issuer and the investing public, underwriting, facilitating mergers and other corporate reorganizations and acting as a broker or financial advisor for institutional clients.Major investment banks include Goldman Sachs, Citigroup, JPMorgan Chase, Morgan Stanley, Credit Suisse, Bank of America, and Deutsche Bank.Many investment banks additionally have retail operations that serve small, individual customers.Brokerage VS Investment BankThere are many factors that can differentiate between a Brokerage firms and an investment bank, but here we have selected and listed some basic factors.Size of a businessBusiness brokers firms typically handle deals with cost less than $2 million while most investment bankers won’t consider a deal unless it has the potential to cross the $2 million thresholds.
1
US
Javelin Strategy & Research announced the winners of its 2020 Digital Banking Scorecards.The awards are based on the results of Javelin’s 2020 Mobile Banking Scorecard and Online Banking Scorecard reports, which evaluated nearly 400 digital banking capabilities at the nation’s top 25 financial institutions.For the fourth consecutive year, Bank of America ranked “Best in Class” in both channels.The bank was recognized as a “Leader” in five mobile banking categories and four online categories.USAA was again recognized as an overall “Leader” in both mobile and online banking.Other overall “Leaders” included BB in Mobile and Wells Fargo in Online.Fintech NewsNine other banks ranked as a “Leader” in at least one category in mobile or online.They were: BBVA, Capital One, Chase, Citi, Huntington, Key Bank, PNC, SunTrust, and U.S. Bank.
2
More

Top