Fintech PR
Financial Services Firms That Invested in Emerging Technologies Profited in 2020, New Broadridge Study Finds
Over half of financial services firms worldwide plan to increase their spending over the next two years on next-generation technologies such as AI, blockchain, the Cloud and digital, according to a new study surveying 1,000 global C-suite executives and their direct reports, released today by Broadridge Financial Solutions (NYSE: BR), a global Fintech leader.
Broadridge’s Next-Gen Technology Adoption Survey indicated that firms also reported a range of strategic benefits from prior investments in emerging technologies, including accelerated time to market, better decision-making and improved risk management.
Broadridge developed The ABCDs of Innovation Maturity Framework™ for the study to categorize firms as either a Beginner, Implementer, Advancer or Leader in next-gen technology adoption. Next-gen technology maturity was based on progress made in implementing these technologies and reported effectiveness in driving business performance.
ACCELERATING TRENDS
Over the next two years, firms worldwide reported plans to increase the share of their overall IT budgets spent on next-gen technologies from 11.8% to 15.7% on average, an increase of 33%.
“In a remote and evolving business environment, investments in AI, blockchain, the Cloud and digital technologies will continue to drive long-term growth and have already become essential to both day-to-day operations and larger strategic shifts around mutualization, resiliency and digital transformation,” said Chris Perry, President of Broadridge. “Broadridge’s inaugural study reveals that for financial services firms, investments in next-generation technologies directly lead to a range of strategic benefits, in addition to increased revenues and profits and decreased costs. Put simply, those who are investing in technology with a clear strategy for accelerating adoption are getting the most value.”
The study found Leaders, those firms with multiple next-gen technology use cases, which are moving toward enterprise-wide adoption and driving major performance gains and business transformation, are spending a greater share of their overall IT budget on emerging technologies versus Non-leaders. They also report improved employee productivity, more effective risk management and compliance, faster creation of new/enhanced products and stronger reputations as a result of their investments.
The study reveals that while spend is increasing across the board, firms that are Leaders in next-gen technology adoption plan to increase this allocation to nearly 20% of their overall IT spend by 2023. The study showed that sell-side firms are spending a greater proportion of their IT budgets on next-gen technologies than buy-side firms and will continue to do so over the next two years.
THE CLOUD: UNDERPINNING FIRMS’ STRATEGIC TRANSFORMATION
Broadridge’s Next-Gen Technology Adoption study finds that organizations are most reliant upon Cloud technologies for improving their business activities and capabilities, followed by digital, AI and blockchain. According to the firms surveyed, the Cloud is used most often within areas such as sales and trading (68% and 54%, respectively), product development (68%), human resources (67%), customer management (66%) and IT infrastructure (65%), making it a beneficial tool for firms continuing to operate in a remote environment.
The study also found that digital capabilities are used most often within areas such as strategic planning (61%) and marketing (51%), and AI capabilities are used most often for security (39%) and portfolio and investment management (35%).
According to the study, firms plan to increase investments across all of the next-gen technologies in the next two years with 60% saying they will increase spending on the Cloud, followed by AI (56%), then digital (53%) and blockchain (53%).
DRIVING REVENUE
In terms of return on investment, those who were identified as Leaders said they had achieved a 2.55% profit margin increase over the prior year through the use of emerging technologies. This compared with firms that were identified as Non-leaders, which reported a smaller 1.25% profit margin increase. Leaders also reported a 4.04% increase in revenue through the use of emerging technologies, compared to a 1.74% increase in revenue for Non-leaders, indicating that leading firms are more likely to create new revenue streams through these technologies. Cost reductions were relatively consistent among firms at an average of -2.72%.
Leveraging next-gen technologies is part of Broadridge’s investment in The ABCDs of Innovation® – AI, blockchain, the Cloud and digital – helping clients understand and apply these technologies by simplifying the complex to help them be Ready for Next. View the full Broadridge Next-Gen Technology Adoption survey report.
METHODOLOGY
The Broadridge Next-Gen Technology Adoption Survey was conducted by ESI ThoughtLab to assess how financial services companies are adopting next-gen technology, where they are investing the most and the returns they are generating. C-suite decision-makers and their direct reports from 1,000 financial institutions were surveyed by phone, with fielding from October – November 2020. The sample consisted of 85% C-level executives and 15% direct reports. The survey was conducted with executives from buy-side and sell-side firms, including insurance companies (17%), asset managers (17%), broker-dealers (16%), wealth managers (16%), private equity companies (10%), universal banks (10%), banks (8%) and hedge funds (6%). Responses were split evenly among the APAC, EMEA and North American regions. For further details on survey methodology, please contact a Broadridge media representative.
STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.
The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.
To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.
The webcast can be followed live here and a recording will be available afterwards.
Information on EQT AB’s financial reporting
The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.
The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.
Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]
Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/eqt/r/invitation-to-presentation-of-eqt-ab-s-q1-announcement-2024,c3956826
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Invitation to presentation of EQT AB’s Q1 Announcement 2024 |
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- Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
- Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
- Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
- Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
- PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
- Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
- 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
- CEO reaffirms Kia’s commitment to ESG management
SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.
Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.
During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.
The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.
“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”
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VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.
As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.
The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.
Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.
About BioVaxys Technology Corp.
BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.
ON BEHALF OF THE BOARD
Signed “James Passin“
James Passin, Chief Executive Officer
Phone: +1 646 452 7054
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