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Furniture China 2024 Achieved 11.9% Growth on Overseas Visitors

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SHANGHAI, Oct. 22, 2024 /PRNewswire/ — The 29th China International Furniture Expo (Furniture China 2024) successfully concluded on September 13th after four days of fruitful exchanges at SNIEC. Once again, the exhibition reaffirmed its position as a leading global platform for the furniture industry, providing extensive opportunities for international and domestic furniture companies, buyers, designers, and related industries to network and collaborate.

This year’s expo attracted 3,000+ exhibitors, representing various sectors, from furniture manufacturing to home design and material supply. Exhibitors came from 25 countries and regions, highlighting the international scope of Furniture China. According to the Post Show Report, the expo welcomed total of 167,250 visitors, including 28,644 overseas buyers, reflecting a 11.9% year-on-year growth, further enhancing the expo’s global trade influence.

In addition, Maison Shanghai 2024 ran concurrently at SWEECC, showcasing an extensive range of interior designs, home décor, and lifestyle solutions. It has become a key part that draws attention from designers, retailers, and home furnishing enthusiasts from across the globe. Together, the expo created a comprehensive platform for the exchange of ideas and trends in both the furniture and home furnishing industries.

Besides, key events such as the Global Buyers’ Night, Middle East Buyers’ Night and the Anji Industrial Cluster Promotion Event drew significant attention from buyers and industry leaders, fostering discussions on new opportunities for the industry’s future. The digital platform DTS with its new APP also performed impressively, more than 23,000 active users engaging online, generating over 386,000 interactions, since its launch in this July.

The expo not only provided a platform for companies to showcase their latest product innovations but also offered a range of forums and workshops aimed at driving industry development. Over 40 onsite events gathered 200+ speakers, guests, industry experts, designers and KOLs, to share insights covering diverse aspects of furniture topics. Exhibitors also expressed high satisfaction with the quality of the buyers. Many new business connections and continued partnership have been achieved via expo approaches, with follow-up orders expected to exceed existing growth.

Furniture China 2024 successfully showcased the latest trends and developments in the global home furnishing industry, injecting new energy through its innovative online and offline hybrid model. We look forward to the next edition during 10-13 September 2025 in Shanghai (Pudong), which will continue to create more furniture trade opportunities and successes for the global markets.

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Ascenda transforms economics for financial institutions with new loyalty-as-a-service offering

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NEW YORK, Oct. 22, 2024 /PRNewswire/ — Ascenda, the world’s most connective rewards ecosystem, today announced the launch of its new loyalty-as-a-service offering. The groundbreaking model challenges established industry norms and maximizes business outcomes for financial institutions through effortless access to scalable, aspirational rewards propositions that deliver outsized returns.

For decades, companies who provide rewards technology and content have operated on a vendor model that leaves them uninvested in their clients’ success. The onus has been squarely on financial institutions to procure the right loyalty marketing ingredients and put them to use in a way that generates ROI – often with mixed results. Ascenda now shifts that paradigm by delivering loyalty as a partner, not as a supplier.

The new loyalty-as-a-service offering transforms marketing economics for financial institutions with an outcome-centric partnership model composed of: 

  • Holistic ecosystem access: Ascenda’s full suite of proven technology and compelling lifestyle content is accessible effortlessly in one place. This marks the first time in the industry that all the puzzle pieces needed for high-ROI loyalty marketing are seamlessly unified, from trigger-based campaigns to unforgettable customer experiences.
                                                                           
  • Easy zero-cost entry: brands can choose to leverage the full solution suite or start using just specific components – always without setup costs or platform fees. This removes all barriers, enabling financial institutions to move faster in bringing new customer propositions to market.
                                                                           
  • Results-based commercials: Ascenda charges only for content and growth outcomes actually delivered. This mitigates the financial risk of adopting a loyalty solution and means Ascenda is deeply invested in achieving measurable client results.                                        

“Our new loyalty-as-a-service offering is revolutionary for banks and fintechs globally,” said Kyle Armstrong, CEO at Ascenda. “For many brands, rewards cost is one of the biggest expense lines on the P&L, yet they are dissatisfied with the return on that investment. We are changing the game with a shift from delivering loyalty software to delivering loyalty ROI. Our new model makes things effortless and truly aligns incentives, unlocking step-change economics.”

The new offering is now available to financial institutions that onboard with Ascenda and progressively being rolled out across the existing client base.

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Ankura Taps Industry Veteran Regina Lee to Lead Risk, Forensics & Compliance Business Globally

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NEW YORK, Oct. 22, 2024 /PRNewswire/ — Leading global expert services and advisory firm Ankura Consulting Group, LLC (“Ankura”) is pleased to announce the appointment of Regina Lee as the Global Leader of its Risk, Forensics & Compliance business.

Regina has more than 25 years of experience leading successful teams at global consulting firms. Her impressive background encompasses a wide range of expertise, including fraud investigations, bankruptcy-related disputes and investigations, mass tort and securities litigation, and post-transaction disputes. Most recently, Lee served as Global Co-Leader of the Strategy & Analysis Practice at AlixPartners.

Kevin Lavin, CEO of Ankura, shared: “I could not be happier to welcome such a talented and culturally aligned leader as Regina. Her extensive experience and strategic insight will play a pivotal role in advancing Ankura’s capabilities in risk management, forensic investigations, and regulatory compliance. Regina’s deep expertise and commitment to excellence align perfectly to further strengthen Ankura’s position as a trusted advisor in these areas.”

Regina commented on her new role: “Ankura’s dedication to innovation and client-focused solutions is truly inspiring, and I look forward to working with Ankura’s talented team to address the evolving challenges our clients face in today’s dynamic environment.”

About Ankura

Ankura Consulting Group, LLC is an independent global expert services and advisory firm that delivers end-to-end solutions to manage conflict, crisis, performance, risk, strategy, and transformation. Ankura has more than 2,000 professionals serving 3000+ clients across 55 countries. Collaboration and experience drive our multidisciplinary approach to Protect, Create, and Recover Value. For more information, please visit www.ankura.com.

Contact:
Robin Boesen
[email protected]

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RegTech Market Size Worth $42.73 Billion, Globally, by 2031 – Exclusive Report by The Insight Partners

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The RegTech Market size was valued at US$ 7.55 billion in 2023 and is expected to reach US$ 42.73 billion by 2031 to record a CAGR of 24.2% from 2023 to 2031.

NEW YORK, Oct. 22, 2024 /PRNewswire/ — According to a new comprehensive report from The Insight Partners, the global RegTech market is observing significant growth. RegTech solutions offer a wide range of functionalities, including risk assessment, monitoring, reporting, and documentation. These technologies enable businesses to automate compliance processes, identify potential risks, and ensure that necessary controls are in place to mitigate those risks. By employing data analytics, RegTech platforms can analyze vast data volumes and provide real-time insights, allowing businesses to stay updated regarding changes in the regulatory landscape and make informed decisions. Thus, the RegTech market is expected to grow during the forecast period.

Global RegTech Market experiences growth due to digitization of business operations. Browse Detailed Insights: https://www.theinsightpartners.com/reports/regtech-market

The report runs an in-depth analysis of market trends, key players, and future opportunities. An increasing occurrence of fraudulent activities such as money laundering and phishing propels the revenue growth of the global RegTech market.

Download Sample Report: https://www.theinsightpartners.com/sample/TIPRE00006258/

Overview of Report Findings:

  1. Market Growth: The global RegTech market size was valued at US$ 7.55 billion in 2023 and is projected to reach US$ 42.73 billion by 2030; it is expected to register a CAGR of 24.2% during 2023-2031.
  2. Consequences of Fraudulent Activities in Financial Operations: RegTech tools can identify suspicious transactions, detect patterns of fraudulent behavior, and provide timely alerts to financial institutions. RegTech tools, such as advanced transaction monitoring systems, help financial institutions identify money laundering attempts by analyzing transaction data and detecting irregularities or patterns that may indicate fraudulent behavior. Further, the integration of technologies such as machine learning and artificial intelligence enables RegTech solutions to process large volumes of data and identify suspicious activities in real-time.
  3. Digitization of Business Operations: Efficient and automated regulatory compliance solutions are becoming crucial for businesses with the increasing reliance on digital platforms and processes. RegTech solutions help them streamline compliance processes and ensure adherence to regulatory requirements. According to The Insight Partner’s analysis, more than 90% of organizations are engaged in making efforts to embrace digitalization; 85% of executives in top companies’ state that digitization is a key priority of their businesses. Additionally, more than 88% of all businesses have plans to implement a digital-first company strategy. RegTech solutions enable businesses to reduce manual efforts and minimize human errors.
  4. Moreover, the adoption of RegTech solutions provides improved traceability and improves auditing of compliance activities. Their robust documentation and reporting capabilities make it easier for businesses to demonstrate compliance with regulatory authorities. Thus, the ongoing digitization of business operations propels the growth of the global RegTech market.

    Identify The Key Trends Affecting This Market – Download Sample PDF: https://www.theinsightpartners.com/sample/TIPRE00006258/

  5. Low Entry Barriers for SaaS-based Solutions: RegTech firms employ cloud technology and software-as-a-service (SaaS) capability to assist businesses in complying with laws more efficiently and affordably. RegTech solutions enable businesses to maintain a more consistent approach to data quality from the onboarding stage through continuous customer monitoring. Streamlining know-your-customer (KYC) checks and eliminating the manual processes of customer record verification can help improve compliance with anti-money laundering rules. The popularity of the SaaS model in RegTech and other industries can be attributed to its accessibility and low human intervention needs. These technologies offer new opportunities for RegTech companies to develop advanced solutions that address evolving regulatory challenges. Thus, the low entry barriers for SaaS-based RegTech solutions offer potential opportunities for the growth of the market.
  6. Geographical Insights: In 2023, North America led the market with a substantial revenue share, followed by Asia Pacific and Europe. Asia Pacific is expected to register the highest CAGR during the forecast period.

Market Segmentation:

  • Based on the component, the market is segmented into solutions and services. The solutions segment held the largest RegTech market share in 2023.
  • Based on deployment, the market is segmented into on-premise and cloud. The cloud segment held the largest RegTech market share in 2023.
  • Based on enterprise size, the market is segmented into SMEs and large enterprises. The large enterprises segment held the largest share in the RegTech market in 2023.

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  • Based on application, the market is segmented into risk and compliance management, AML and fraud management, and identity management. The risk and compliance management segment held the largest RegTech market share in 2023.
  • Based on industry verticals, the market is segmented into banks, insurance, and others. The banks segment held the largest RegTech market share in 2023.
  • The global RegTech market is segmented into five major regions: North America, Europe, APAC, the Middle East and Africa, and South and Central America.

Competitive Strategy and Development:

  • Key Players: A few major companies operating in the global RegTech market growth include IBM Corporation; Deloitte; Thomson Reuters Corporation; PWC; Broadridge Financial Solutions, Inc.; MetricStream Inc.; Jumio; ACTICO GmbH; Acuity Group Limited; and Ascent Technologies.
  • Trending Topics: Fintech and AI Powered System.

Global Headlines on RegTech:

  • “Ascent Technologies, a leading provider of AI-enabled compliance automation solutions for financial services companies, announced it had acquired Waymark, a UK-based provider of horizon scanning and compliance management workflow solutions.”
  • “Deloitte introduced KYX (combining Know Your Client with Know Your Cargo) by Deloitte, powered by Nexxiot. Deloitte, known for its comprehensive range of services, including audit, consulting, financial advisory, risk management, tax, and legal services, is joining forces with Nexxiot, known for its expertise in digitizing supply chain assets, such as shipping containers and railcars.”

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  • “MetricStream, the global market leader in integrated risk management (IRM) and governance, risk, and compliance (GRC), announced its partnership with Kinetix, a financial technology company specializing in AI-powered technology solutions for banking and capital markets. This new partnership will provide compliance teams with automated, AI-powered identification, extraction, and review of regulatory obligations that specifically apply to their organizations.”
  • “Broadridge Financial Solutions integrated FundApps’ regulatory compliance technology with its buy-side portfolio and order management solution to enhance the platform with automated compliance monitoring and reporting tools.”
  • “EquiLend, a global securities finance technology firm, and Broadridge Financial Solutions, Inc., a leading global Fintech company, announced a collaboration to enable straight-through processing (STP) for equity securities finance transactions to the National Securities Clearance Corporation’s (NSCC) central counterparty (CCP). This partnership will leverage EquiLend’s liquidity sourcing options and integrate them with Broadridge’s buy-side portfolio and order management solution. The integration will allow clients to trade and automatically submit transactions through Broadridge’s SFT Submission Service, providing a seamless process without significant operational changes. This collaboration aims to provide clients with the benefits of central clearing, including capital cost reduction and risk mitigation, while simplifying their compliance with regulatory requirements.”
  • “PWC Aarata LLC introduced a compliance advisory service utilizing RegTech in collaboration with CUBE, a RegTech firm. This partnership marks the third collaboration between CUBE and the broader PwC global network, having previously worked with PwC UK and PwC Switzerland. The joint effort of PwC Aarata and CUBE aims to introduce a service called Know Your Regulations (KYR) in Japan. This service enables clients to accurately determine the regulations applicable to their businesses across various countries and regions, facilitating a more efficient and thorough understanding of their compliance status.”

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The Europe RegTech market is segmented into the UK, Germany, France, Italy, Russia, and the Rest of Europe. The UK held a significant RegTech market share in Europe. The adoption of technology in regulatory and compliance efforts in the UK has led to the emergence of new risks, such as cyber threats, fraud, and financial crimes. Presently, there are 25–30% of UK firms which have shown their preparedness to establish processes that align with regulatory guidelines. As a result, RegTech companies are actively exploring creative approaches to implement these systems more effectively and efficiently. Furthermore, in September 2017, the Financial Conduct Authority (FCA) partnered with R3, RBS, and other major banks to develop a prototype application using distributed ledger technology (blockchain) for regulatory reporting of mortgage transactions. This innovative prototype enables the automatic generation of receipts upon mortgage bookings, streamlining the regulatory reporting process.

The UK stands out among nations for its comprehensive set of regulatory reforms, including the Markets in Financial Instruments Directive (MiFID), European Market Infrastructure Regulation (EMIR), BASEL III, and Payment Service Directive (PSD). These regulations have been implemented to enhance liquidity and transparency within the financial system. Considering the uncertainties surrounding Brexit, RegTech companies must adapt their solutions accordingly when implementing RegTech solutions for major financial services firms. This flexibility ensures that the potential impacts and variations resulting from Brexit are effectively addressed and incorporated.

Blockchain technology has gained massive traction in the financial industry due to its potential to reduce the time taken for interbank transactions and improve operational efficiency. Many financial firms view blockchain as a mechanism to make transactions faster, minimize error rates, and eliminate the need for reconciliation. Blockchain technology is particularly well-suited is the payments space. By leveraging blockchain, financial institutions can bring down multiday settlement cycles to real-time, enhancing transaction operations. This has the potential to improve companies’ capabilities for Anti-Money Laundering (AML), Know Your Customer (KYC), and regulatory compliance data.

The huge adoption of blockchain technology results in faster transactions and settlements, benefiting both financial institutions and their customers. By eliminating the need for intermediaries, such as clearinghouses and custodians, blockchain can streamline the process and reduce costs. This can help banks avoid labor-intensive procedures with their customers and currency exchanges. In addition to speed and efficiency, blockchain technology offers enhanced security and transparency. Transactions recorded on the blockchain network are approved by multiple computers and devices, reducing the potential for human error and ensuring accurate records. The decentralized and immutable nature of blockchain makes it tamper-proof, providing a secure platform for financial transactions. Hence, all the associated benefits are anticipated to offer lucrative opportunities for market growth.

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Conclusion:

AI and ML are robust technologies that are deemed necessary for the automation of business operations. These technologies are also capable of spotting industry trends and providing quick and accurate insights. AI-based systems have the potential to analyze massive amounts of data to detect trends and abnormalities, enabling regulated companies to prevent fraud. To remain relevant in an ever-changing environment, firms should constantly develop their rule-based parameters. AI-powered RegTech solutions may help regulated organizations efficiently acquire, process, and analyze data for regulatory reporting as financial transactions expand.

Further, Blockchain is a decentralized, distributed digital ledger that records transactions safely and transparently. Its appeal in the RegTech business stems from its capacity to confer transparency, immutability, and record security. Creating a tamper-proof audit trail for regulatory reporting involves accurate and verifiable information. Blockchain is spread throughout a network of systems, with each machine keeping a copy of the ledger. Blockchain technology eliminates the need for central control, allowing the authentication and recording of transactions without the involvement of a trusted third party, thereby supporting the decentralization, security, and transparency features of RegTech solutions. Thus, the expansion of AI, machine learning, and Blockchain applications is emerging as a significant global RegTech market trend.

The report from The Insight Partners, therefore, provides several stakeholders—including component providers, system technology integrators, system manufacturers, and others—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.

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About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Contact Us:

If you have any queries about this report or if you would like further information, please contact us:

Contact Person: Ankit Mathur
E-mail: [email protected]
Phone: +1-646-491-9876
Press Release: https://www.theinsightpartners.com/pr/regtech-market

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