DOHA, Qatar, May 21, 2024 /PRNewswire/ — The 4th annual Qatar Economic Forum, held May 14 -16 in Doha, concluded on a high note, solidifying its position as a premier platform for navigating the complexities of a rapidly changing global landscape. Powered by Bloomberg and hosted in collaboration with Media City Qatar, the event brought together over 2,700 in-person attendees and boasted a total of 3,592 registrations, including 1,000+ global leaders, CEOs, and 427 government officials from 124 countries.

This year’s edition, held under the theme ‘A World Remade: Navigating the Year of Uncertainty,’ showcased a renewed sense of collaboration and a commitment to addressing the challenges presented by an interconnected world. Globalization and trade, the energy transition, technology and innovation, along with sports and entertainment, and the business and investment outlook, were at the forefront of discussions.

However, fostering collaboration extends beyond the walls of the Forum itself: one of the defining aspects of the event is its unwavering focus on a news-driven approach. The Forum recognizes the media’s critical role in shaping economic, political, and social narratives.  In today’s interconnected world, clear and accurate information is essential for fostering global understanding and cooperation.

The Forum attracted significant media interest, drawing over 160 members of the press from more than 35 media outlets. Over 50 interviews were conducted with key participants, securing prominent coverage across various platforms. The event garnered front-page placement in print publications, featured articles in online media, and prime-time broadcast segments, resulting in hundreds media mentions across 25 countries. This widespread coverage highlights the importance and the impact of the discussions held at the event.

His Excellency Sheikh Dr. Abdulla bin Ali Al Thani, Chairman of Media City Qatar, a key partner of the Forum, emphasized this crucial role.  He highlighted the media’s transformative potential, stressing the need for compelling narratives that not only combat misinformation but also promote understanding across diverse global perspectives.  Through fostering innovation and dialogue, Media City Qatar aims to empower the Gulf’s media industry to become a dynamic force for economic growth and a bridge between cultures. 

The Forum transcended mere rhetoric by witnessing concrete steps toward innovation and collaboration.  The signing of 21 memorandums of understanding (MoUs) stands as a testament to this commitment.  Media City Qatar had two particularly noteworthy partnerships announced at the Forum with Qatar University (QU) and the Qatar Research, Development and Innovation (QRDI) Council.

These notable partnerships are set to pave the way for substantial growth in Qatar’s media sector by enhancing technological capabilities, providing comprehensive training programs, and fostering a conducive environment for innovative media companies. They further underscore Media City Qatar’s commitment to transforming Qatar into a global media hub and creating high-skilled job opportunities in the media industry.

ABOUT MEDIA CITY QATAR

Media City Qatar (MCQ) is an emerging, collaborative global hub for media companies, entrepreneurs, innovators, and creative talent, and a regional leader in the media industry, contributing to Qatar’s economic diversification. It accelerates the evolution of regional media to create a powerful and innovative ecosystem where exceptional ideas and content thrive. Media City Qatar was established to streamline necessary regulations, develop businesses and unlock investment opportunities to support the media ecosystem in Qatar under its regulatory, developmental, and investment mandates.

Media City Qatar aims to foster a nurturing environment and a hub for traditional and digital media, technology, communications, research, and development. From broadcasting to traditional and digital newspapers, from gaming to user-generated content, and enabling AI and advanced technologies. Media City Qatar welcomes media businesses across different media segments of various scales to join.

For more information, visit www.mediacity.qa or follow us on @mediacityqa |#mediacityqatar

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NEW YORK, May 21, 2024 /PRNewswire/ — Lukka, the global leader in enterprise digital asset data and software solutions, proudly announces its acquisition of Coinfirm, a top-tier European based blockchain analytics software company. This acquisition deepens Lukka’s existing capabilities to now support a comprehensive set of on-chain analytics of compliance, AML, sanction screening, entity due diligence, and investigations business needs. The new combined offering utilizes the industry’s only audited, institutional grade datasets at a time when trust in the quality and accuracy of data has become essential.

Since 2016, Coinfirm has been at the forefront of digital asset transaction analysis and monitoring, specializing in compliance, AML (Anti-Money Laundering) detection, and advanced blockchain analytics. Lukka’s enterprise focused approach integrates Coinfirm blockchain data into its platforms with conventional financial information, and maintains existing trusted standards in the form of an AICPA SOC Operational risk controls. Coinfirm was a natural addition to Lukka’s existing product suite due to their prior adherence to AICPA SOC 2 standards, audited by a Big 4 accounting firm. 

“Our customers have stated very clearly that they want data that they can trust and that they have too many overlapping vendors, which creates inefficiency and unnecessary spending. We spent years of due diligence across hundreds of businesses and customer feedback discussions and very carefully selected Coinfirm.

Ultimately, the decision was easy – the team that they have built is incredibly talented and their data quality is best in class. At Lukka we know data and the data behind their on-chain analytics and investigative products was the most comprehensive and highest quality. Lukka is a single provider for all of your crypto data needs.”    said Robert Materazzi, CEO at Lukka.

The integration of the Coinfirm team and products with Lukka is not just an expansion of services but a strategic move towards offering an unmatched range of on-chain and off-chain data solutions.  In addition to Lukka’s commercial strategy, the story doesn’t end with this acquisition. Lukka is continuously assessing opportunities to partner and work with great teams across the world.

About Lukka

Founded in 2014, Lukka serves the most risk-mature businesses in the world with institutional data and software solutions. As a global company, headquartered in the United States, Lukka bridges the gap between the complexities of blockchain data in a global crypto ecosystem with traditional business and reporting requirements.

All of Lukka’s products are created with institutional standards, such as AICPA Service and Organization Controls (SOC), which focus on data quality, financial calculation accuracy & completeness, and managing technology operational risk. Lukka has obtained AICPA SOC 1 Type II and SOC 2 Type II Audits, an ISO/IEC-27001 certification, NIST Cybersecurity Assessment, and continues to lead the industry with best in class technology risk governance.

Our global team looks forward to partnering with you to solve your data challenges.

For information about Lukka, visit lukka.tech.

Media Contact:
Rafal Janik
[email protected] 

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LONDON, May 21, 2024 /PRNewswire/ — The 1990s saw the emergence of the first wave of Challenger Banks in the UK – including Virgin Direct (1995), Sainsbury’s Bank (1997) and Tesco Personal Finance (1997). Their intention was to take on the established big banking players. However, as time has passed, they have moved in unintended directions. Auriemma Group has been monitoring this space for years, and provides strategic insights and advisory services to help clients navigate market dynamics and regulatory changes.

With the recent purchase of Tesco Bank by Barclays, the imminent purchase of Virgin Money by Nationwide, and the ongoing process for Sainsbury’s Bank to identify an appropriate exit route for its full suite of banking products, the established banking players have taken control of the core original Challenger banks. The ownership of M&S Bank as a wholly-owned subsidiary of HSBC (since 2004) can be added to this list.

Increased regulation—including interchange restrictions, higher capital requirements, the cost of capital, the cost of rewards, and economic turbulence—has made it too challenging for these entities to operate independently. What might this mean for the more recent Challenger banks?

The newer wave of Challenger banks, including Monzo, Starling, and Revolut have taken a very different approach to differentiate themselves from the mainstream. Whilst the 1990s wave focused on leveraging established brand names and existing distribution channels, the more recent wave has emphasized innovation, technology and a digital-first approach.

Slick, digital sign-up processes have attracted significant customer volumes for these players (Monzo with more than 7 million customers, Starling with 3.6 million, and Revolut with over 30 million globally). However, profitability remains a challenge for many.

“If the mainstream players feel they need to compete more directly, there are three possible approaches to consider,” says Simon Cottenham, Head of International Partnerships at Auriemma. “Spin-off their own digital banks to compete head-on with the Challenger banks, invest in the digital approaches and apply these to their mainstream products, or ultimately look to invest in or buy-out a Challenger bank and bring their capabilities in-house.”

The future of Challenger banks is murky at best. It remains to be seen if the new wave will be able to compete in the long-term with their largest competitors, or ultimately be absorbed by the high street banks like the original Challengers.

About Auriemma Group

For 40 years, Auriemma’s mission has been to empower clients with authoritative data and actionable insights. Our team comprises recognised experts in four primary areas: operational effectiveness, consumer research, co-brand partnerships and corporate finance. Our business intelligence and advisory services give clients access to the data, expertise and tools they need to navigate an increasingly complex environment and maximise their performance. Auriemma serves the consumer financial services ecosystem from our offices in London and New York City. For more information, visit us at www.auriemma.group or contact Simon Cottenham at [email protected].

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