Fintech PR
OneConnect leads Southeast Asia’s sustainable financing with two smart lending platforms
OneConnect Financial Technology Co. Ltd. (OneConnect), today announced it is leading Southeast Asia’s sustainable financing with the launch of two smart lending platforms – SeekCap, the Philippines’ first lending platform that helps the underserved micro, small and medium enterprises (MSMEs) manage cashflow and grow their business, as well as a multi-finance platform that will empower millions of unbanked and underbanked Indonesians with easy access to loans to finance their purchase of vehicles essential for their daily transportation so as to improve mobility and their lives.
SeekCap – The Philippine’s first lending platform to meet the banking needs of MSMEs
Today, OneConnect and UBX Philippines Corporation (UBX), the wholly-owned fintech subsidiary of Union Bank of the Philippines (UnionBank), launched SeekCap, the first MSME lending platform in The Philippines.
Through SeekCap loans marketplace, multiple lenders can on board their loan products allowing borrowers to choose what best suits their business needs, and apply for loans digitally and seamlessly on a single end-to-end platform. Loans can be approved on the same day, and disbursed within three working days. This drastically shortens turnaround time as compared with traditional loan applications in The Philippines.
Multi-finance lending platform in Indonesia
In addition, OneConnect and Sinar Mas Multi-finance, a subsidiary of Sinar Mas Multiartha (Sinar Mas Financial Services Group) and part of the Sinar Mas conglomerate in Indonesia, today signed an agreement to build one of Indonesia’s first multi-finance platforms to give millions of Indonesians easy access to loans to finance their purchase of motorcycles and cars as transport necessities that greatly enhance mobility and improve livelihoods.
Championing inclusive growth for sustainable business and better living standards in Southeast Asia
The two smart lending platforms use advanced technologies to democratize access to credit facilities and champion inclusive growth for everyone to achieve sustainability in business management and better income.
MSMEs form the backbone of any economy. In the Philippines, more than 99% of all businesses are MSMEs and they contribute to almost 63% of total employment. Yet, at present, only 9% of loans and financing from the country’s major banks go to MSMEs. With a digital lending platform like SeekCap, MSMEs can easily obtain loans to better manage cashflow and grow their business.
In Indonesia, many people aspire to have a better income and improve their lives. Owning a vehicle as a basic mode of transport can empower an Indonesian to start his own business, and use it as his or her everyday transportation mode, for instance. This creates a sustainable standard of living, as well as millions of Indonesians being able to obtain loans to enjoy better access to education and formal job markets.
When people’s livelihoods improve and businesses flourish, poverty will reduce and the country’s economic output will increase – thus achieving inclusive and sustainable growth.
According to Ms Tan Bin Ru, CEO of OneConnect Financial Technology: “The Philippines is a strategic market for OneConnect. Though the World Bank figure shows that only 35% of Filipinos have formal bank accounts in 2018[1], this figure is a good increment from the preceding years. Filipinos have also been making a lot of digital payments and remittances in recent years. These are clear signs that Filipinos welcome new technologies, and I expect digital transformation in The Philippines’ financial sector to scale considerably.”
Stated Mr John Januszczak, president and CEO of UBX, “I am very pleased with the outcome of SeekCap. When UBX entered into a technology development alliance with OneConnect, we envisage a high performing digital platform that would showcase cutting-edge proprietary technology found nowhere else – OneConnect has impressed us and delivered us the first of its kind lending platform for MSMEs in The Philippines within a short span of four months.”
Mr Januszczak continued, “With SeekCap now a live, functioning online platform, I am pleased to report that we are already disbursing credit to the Philippines’ MSME segment. As the fintech arm of the Philippines’ leading innovative bank, we continue to seek trailblazing avenues to better cater to our customers. Ultimately, UBX’s underpinning strategic intent is to transform the lives of Filipinos, and accelerate their growth by connecting them to a whole new world of opportunities.”
SeekCap’s first customer, Ms Faith Calimlim, Co-owner of TECHNOHOLICS, a premier provider of quality technology products and services for businesses, described her seamless experience from browsing to applying and receiving loans on SeekCap, “As an entrepreneur who has a busy schedule, SeekCap allows me to browse and compare loans on one single platform, anytime, anywhere. I finally applied for a loan package that best suits my business needs. I was pleased to receive the loan amount the next day. I plan to use the funds to expand my business.”
Mr Doddy Susanto, President Director of Sinar Mas Multiartha said, “There is a vast lending gap in Indonesia and we are harnessing cutting-edge technology to narrow that gap. We are glad that OneConnect is our technology partner as we embark on our transformation roadmap to digitize our channels and banking products and services.”
He added, “The first multi-finance lending platform of Indonesia that we are building will greatly enhance user experience and the livelihoods of both consumers, and our financing agents. Millions in the untapped demographic cluster will be able to gain easy access to credit lines to help them own a vehicle essential for daily transportation and in turn, improve their mobility and enjoy new income streams. Financing agents on the move can conduct business using their mobile phones. I envisage we will be able to serve our customers and agents with better banking experience, scale our digital presence and disrupt the traditional lending space.”
Said Ms Tan, “I am pleased to have Sinar Mas Financial Services Group as our valued strategic partner. OneConnect is also working with multiple subsidiaries within the Sinar Mas Financial Services Group including Bank Sinarmas and Asuransi Sinar Mas, to build a true lending ecosystem with multiple players coming together to offer a web of services and data points from Indonesia’s credit bureau, social media, e-commerce, lifestyle and IoT services and so forth. We are delighted to be the trusted tech partner of Sinar Mas Financial Services Group in their transformation roadmap to digitalize their suite of banking and insurance products.”
OneConnect’s Smart Lending Platforms
OneConnect’s smart lending platform comprises three key proprietary solutions:
- Smart Lending solution has anti-fraud and credit risk management engines using artificial intelligence-enabled eKYC solutions for instant account opening and onboarding, and robust risk scorecard modeling to enable instant loan approvals.
- Smart Interview solution allows loan officers to remotely interview an applicant and detect fraud or possible loan default by analyzing 56 facial muscle movements in real time using OneConnect’s micro-expression technology. This will make instant loan approval and disbursement possible.
- Smart Agent solution lets financing agents utilize their mobile phones and acquire and onboard new customers using mobile phones while on the move. The app also enables FAs to communicate with prospective leads, and submit loan applications seamlessly.
The smart lending platform is designed using OneConnect’s advanced technologies for end users to enjoy a smooth, hassle-free banking journey.
SOURCE OneConnect
Fintech PR
FXCess CFD Broker Now Empowers Partners with up to $5,000 Monthly Earning Opportunity via Referrals
HAMILTON, Bermuda, Dec. 23, 2024 /PRNewswire/ — FXCess CFD broker, a leading brand in the trading landscape, has introduced a new opportunity for its partners. The IB Reward program is a recently launched initiative that pays participants up to $5,000 per month for referring active traders. Unlike other income opportunities, this program involves zero risk, which makes it a perfect option for partners who want to maximize their financial potential.
“We are genuinely excited to bring this opportunity to our partners. The IB Reward Program is designed with simplicity and high returns in mind,” stated Thomas Pavlatos, the spokesperson for FXCess. “Participants will be able to earn substantial monthly rewards by referring new traders to our platform while enjoying the thrill of a risk-free earning process. This showcases our efforts to help our clients achieve consistent financial success.”
A Structure That Rewards Effort and Success
The FXCess CFD broker offers a Reward Program that is structured into five unique tiers. Starting at the Bronze level, partners can earn $450 if their network meets a net deposit of $10,000 and 100 traded lots in a month. Rewards grow progressively on Silver, Gold, and Platinum tiers, and reach the Master level with a maximum of $5,000 earnings for $150,000 net deposits and 1,250 traded lots. The eligibility is checked at the end of every qualifying month to make sure the participants get their due rewards for fluffing the criteria.
“Our Reward Program is more than a simple referral initiative. It is a reflection of our commitment to providing high-value benefits that align with the needs of our partners,” Pavlatos added. “With no risk of loss and the potential to earn up to $5,000 every month, this program sets a new standard in rewards. Moving forward, we remain dedicated to introducing further innovative programs for all of our valued partners.”
About FXCess
FXCess CFD broker is a trusted name for traders worldwide. The company offers over 300 trading instruments, from forex pairs to futures, for both beginners and seasoned professionals. Moreover, they provide competitive trade conditions, multiple account options, and solid customer support so that every client is served with the best services. Supported by advanced platforms like MT4 and PMAM, FXCess CFD broker delivers trading excellence with a focus on transparency and trust.
FXCess is a trade name of Notesco Int Limited; a company incorporated in Anguilla with registration number A000001800 and registered address The Valley, AI2640, Cosely Drive, 1338, AI.
All trading involves risk. It is possible to lose all your capital.
View original content:https://www.prnewswire.co.uk/news-releases/fxcess-cfd-broker-now-empowers-partners-with-up-to-5-000-monthly-earning-opportunity-via-referrals-302338245.html
MANCHESTER, England, Dec. 23, 2024 /PRNewswire/ — Smartkem (Nasdaq: SMTK), which is seeking to change the world of electronics using its disruptive organic thin-film transistors (OTFTs), announced it has completed its previously announced concurrent public and private offerings of its securities, including shares of its common stock and common stock equivalents, for an aggregate total gross proceeds of $7.65 million.
Smartkem issued 1,449,997 registered shares of common stock and unregistered Class D warrants to purchase up to 1,449,997 shares of common stock to investors in concurrent public and private offerings at a price of $3.00 per share and related Class D warrant. Each investor received one Class D warrant for each share purchased in the public offering.
Pursuant to the separate concurrent private placement, the Company sold to certain institutional investors, including existing investors in the Company, 169,784 unregistered shares of common stock, unregistered pre-funded warrants to purchase up to 930,215 shares of common stock and unregistered Class D warrants to purchase up to 1,099,999 shares of common stock at a price of $3.00 per share and related Class D warrant and a price of $2.9999 per pre-funded warrant and related Class D warrant. Each investor received one Class D warrant for each share of common stock or pre- funded warrant purchased in the offering.
The Class D warrants are immediately exercisable at an exercise price of $3.00 per share and expire on December 31, 2025. The pre-funded warrants are immediately exercisable at an exercise price of $0.0001 per share and may be exercised at any time until all of the pre-funded warrants have been exercised in full.
The gross proceeds of the offerings described above were $7.65 million before deducting placement agent fees and other offering expenses payable by the Company. The Company intends to use the net proceeds of the offerings for working capital and general corporate purposes.
Craig-Hallum Capital Group LLC acted as the Company’s exclusive placement agent for the offerings.
In connection with the offerings described above, the Company has entered into a registration rights offering pursuant to which it has agreed to register the shares of common stock issued in the private placement, the shares of common stock issuable upon the exercise of the Class D warrants and the pre-funded warrants sold in the offerings and certain other securities for resale by the holders thereof no later than the earlier of (i) the 10th day after the filing of the Company’s annual report on Form 10-K for the year ended December 31, 2024 or (ii) April 25, 2025.
The sale of the registered shares of common stock was made pursuant to Smartkem’s effective shelf registration statement on Form S-3 (file no. 333- 281608), including a base prospectus, filed with the Securities and Exchange Commission (the “SEC”) and declared effective by the SEC on August 22, 2024 and a prospectus supplement dated December 18, 2024 filed with the SEC. Copies of the prospectus supplement and the accompanying base prospectus may be obtained from Craig-Hallum Capital Group LLC, Attention: Equity Capital Markets, 222 South Ninth Street, Suite 350, Minneapolis, MN 55402, by telephone at (612) 334-6300 or by email at [email protected]. Alternatively, copies of the prospectus supplement and the accompanying base prospectus may be obtained for free at the SEC’s EDGAR website at www.sec.gov.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any Smartkem securities.
About Smartkem
Smartkem is seeking to reshape the world of electronics with its disruptive organic thin-film transistors (OTFTs) that have the potential to revolutionize the display industry. Smartkem’s patented TRUFLEX® liquid semiconductor polymers can be used to make a new type of transistor that can be used in a number of display technologies, including next generation microLED displays. Smartkem’s organic inks enable low temperature printing processes that are compatible with existing manufacturing infrastructure to deliver low-cost displays that outperform existing technology.
Smartkem develops its materials at its research and development facility in Manchester, UK and provides prototyping services at the Centre for Process Innovation (CPI) at Sedgefield, UK. It has a field application office in Taiwan. The company has an extensive IP portfolio including 138 granted patents across 18 patent families, 16 pending patents and 40 codified trade secrets.
Forward-Looking Statements
All statements in this press release that are not historical are forward-looking statements, including, among other things, the expected use of proceeds received from the offerings. These statements are not historical facts but rather are based on Smartkem Inc.’s current expectations, estimates, and projections regarding its business, operations and other similar or related factors. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expect,” “intend,” “plan,” “project,” “believe,” “estimate,” and other similar or related expressions are used to identify these forward-looking statements, although not all forward-looking statements contain these words. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, and assumptions that are difficult or impossible to predict and, in some cases, beyond the Company’s control. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the Company’s filings with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update information in this release to reflect events or circumstances in the future, even if new information becomes available.
View original content:https://www.prnewswire.co.uk/news-releases/smartkem-closes-7-65-million-offering-302337973.html
PASAY CITY, Philippines, Dec. 23, 2024 /PRNewswire/ — The SM Group, through its integrated property developer arm, SM Prime Holdings, Inc., is setting a benchmark in sustainable and disaster-resilient design. Embracing innovation, the company integrates environmental considerations and community well-being into its projects, reflecting a commitment to long-term sustainability.
The SM group’s foresight to incorporate best building practices continues with the next generation, as Jessica Sy, Vice President and Head of Design, Innovation, and Strategy of SM Prime and its residential arm SM Development Corporation (SMDC) emphasizes respecting the land through the creation of green buildings.
“We want to make sure that when we develop a building, it’s going to last for a long time,” said Ms. Sy. “We’ve seen that what’s good for our communities is actually good for our company because addressing their needs also strengthens our connection with them as our customers.”
Drawing from lessons on her first year in studying architecture, Ms. Sy noted the role of water in any development. It can be both beautiful—a source of life or unpredictable in nature.
“As architects, this was one of the first few things we were taught,” Ms. Sy added. “Water is life-giving but it can also change everything. Floods in properties could heavily impact and uproot the lives of many families.”
Field Residences is an example of SM’s commitment in meeting the highest standards of disaster resilience in its development.
A new rainwater detention tank was completed in September this year after SMDC found that water levels in Field Residences had risen over the years. It is designed to handle extreme rainfall similar to those during Typhoon Ondoy (Ketsana), which brought 455 millimeters of rain in 24 hours.
How architecture can also build values
SMDC also promotes local identity in its projects by specifically choosing native plants that are more well-suited to the area.
“We try to reduce the types of plants that don’t benefit the local environment nor enliven its biodiversity,” she said. “What we do is to identify plants that can prosper here such as the endemic katmon [Dillenia philippinensis] tree.”
SMDC initiated to have future nurseries of these plants in various developments.
“The decisions that we have today are going to impact the long-term future,” she added. “With sustainability at the forefront of our conversations nowadays, we see that that’s part of the legacy that we need to complete.”
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View original content:https://www.prnewswire.co.uk/news-releases/designing-for-the-future-sms-vision-through-an-architects-lens-302338285.html
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