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Ideanomics Rounds Out NEVC Offerings, Updates Unit Name to New Energy Transportation Services Group (NETS)

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Ideanomics Inc. (Nasdaq: IDEX) has today announced the formation of New Energy Transportation Services Group (NETS), a service company proving comprehensive and commercial solutions that include Marketing, Financial Services, Technology and Infrastructure for the New Energy Transportation Services industry with.

This newly-formed group will be domiciled in Singapore to embrace the global business ex-China, beginning with Malaysia and the other ASEAN countries. From Asean, the company plans to expand its substantial commercial offerings into other regions, including North America and Europe, to develop and support cleantech commercial vehicle markets. The NETS Group is focusing its full-service model of ‘Sales-to-Financing-to-Charging networks (S2F2C) in efforts to support the full value chain of the cleantech commercial vehicle industry. As the new energy transportation markets continue to gain momentum globally, we expect our sales from the NETS Group to grow significantly by the end of 2020 and with it the potential to spin-off what is anticipated to a highly profitable division to create additional shareholder value.

According to a recent Bloomberg New Energy Finance (BNEF) report “…commercial electric van and truck sales are set to accelerate in the 2020s,” and “By 2040, it’s expected that 56% of light commercial vehicle sales and 31% of medium commercial vehicles in China, the U.S. and Europe to be electric.”

The NETS Group is positioning to become a global leader in the sourcing, sales, and debt and equity financing of global new energy transportation solutions; to help streamline the adoption of cleantech commercial vehicles, and associated infrastructure, and to support the rapid adoption of new energy passenger vehicles, globally.

The NETS Group competitive advantage will be improved pricing through volume discount from factory to customer direct group-based purchasing, improved financing rates and availability, and will have the ability to procure a full range of vehicles from a variety of manufacturers through a single point of service in ASEAN, European, and North American markets.

“Having recently began to refer to this business unit as the NEVC Group, we took a step back and considered what additional services and solutions we needed to round out the offering,” said Alf Poor. “With the continued interest in light rail and heavy municipal vehicles, such as garbage and fire trucks, as part of our audience’s transportation planning objectives, we understood that a full-service solution would need to include light rail, and the power infrastructure required for the different forms of new energy transportation from rail to the fast-charging networks needed to support the different types of commercial vehicles required for tomorrow’s transportation needs.”

The NETS Group continues to expand and grow its new energy commercial vehicle strategic industry alliances within the new energy commercial transportation ecosystem with partners and market leaders such as JACBeijing FotonYinlong, and BYD. The NETS Group will continue to grow this alliance and add new strategic partners and market leaders, and grow its offerings, enterprise operational tools, and commercial support to fuel the fast and growing demand.

“Technologies such as Artificial Intelligence will play an increasingly import role the New Energy Transportation Services industry. Our world-class AI offerings from our subsidiary ‘Intelligenta’ will support this commercial level smart integration needed for a successful go to market strategy,” said Poor.

The NETS Group plans to leverage its full-service model with all stakeholders involved in transportation planning, from local, regional, and national governments, through to private enterprise groups supporting travel and tourism. This will help to establish a cost-efficient underwriting model that will provide a streamlined path for the adoption and transformation to cleantech from urban transportation’s current reliance on fossil fuels.

 

SOURCE Ideanomics

Fintech

WORBLI, the Compliance Driven Public Blockchain, to Enter APA with AmaZix Capital

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WORBLI is pleased to announce that the WORBLI Foundation (“Foundation”) has entered into an Asset Purchase Agreement (the “APA”) concerning the proposed acquisition of 100%  of its assets by AmaZix Capital Limited (“AmaZix Capital”) and 0rigin Ventures (“0rigin”) in return for ongoing funding and development capital.

The acquisition will be completed upon satisfaction of conditions precedents. The transaction will allow WORBLI to accelerate the deployment of its proprietary Know Your Customer (“KYC”) and Anti-Money Laundering (“AML”) offering to the FinTech and Digital Asset sectors, concurrently with the commercialisation of the tokenised security technology native to the WORBLI blockchain.

Transaction Highlights

  • The transaction encompasses 100% of WORBLI’s assets including 10% of WORBLI Utility tokens (“WBI”) in circulation which will be subject to a lock-up period spanning 6 years
  • The transaction will secure funding and resources for the WORBLI Foundation to uphold administrative and customer support for the blockchain and for the promotion of WORBLI’s institutional product offering
  • This expanded and accelerated roll out of WORBLI technology will allow for faster commercial adoption of the chain

 

SOURCE WORBLI

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AllocateRite’s AI-Powered Autonomous Wealth Management Strategies Are Now Available Via iOS and Android Mobile Apps

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AllocateRite, the New York FinTech and data science company that provides wealth managers with ETF-based dynamic asset allocation strategies and risk analytics, is excited to announce that its proprietary portfolio management and asset allocation strategies are now available to iOS and Android mobile devices via our mobile app.

AllocateRite’s AI-powered strategies use sophisticated portfolio construction and risk management techniques to offer superior risk-adjusted returns over time.

Additionally, our strategies are highly diversified and liquid, utilizing benchmark ETFs that represent the most liquid sectors of the stock market. Until now, these strategies were previously available only to institutional clients.

Using our mobile app, you can easily link your brokerage account to use one of our strategies. Also, you have the flexibility to allocate either a partial amount or the entire amount of your account to our strategies while maintaining full custody and control of your account at your brokerage firm.

Our strategies are suitable for retirement accounts, as they are focused on capital preservation, capital appreciation and income, enabling you to reduce your management fees by having your money flow out of pricey mutual funds into low cost ETFs.

AllocateRite’s strategies are automatically rebalanced monthly to maintain an optimal risk / reward ratio. Furthermore, they are GIPS-verified and have a confirmed track record of success stretching back four years.

 

SOURCE AllocateRite, LLC

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TONIK Selects Finastra’s Core Banking Solution to Power Southeast Asia’s First Pure-play Licensed Digital Bank

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Greg Krasnov, Founder & CEO at TONIK

 

Finastra announced today that TONIK, the first licensed digital-only bank in Southeast Asia, has selected Fusion Essence in the cloud to power its end-to-end core banking capabilities. The move will support TONIK as it launches its retail deposit and customer loans services in the Philippines, giving it agility and the ability to scale quickly.

Greg Krasnov, Founder & CEO at TONIK, said, “The banking sector in the Philippines is ripe for digital disruption. The country has high internet usage, the majority of Filipinos are unbanked and research shows half of the people who do have bank accounts would be interested in switching to a neobank.

“We want to create a hyper-compelling consumer proposition that will revolutionize the way money works in the region. Finastra’s Fusion Essence Cloud – powered by Microsoft Azure – will give us the agility to get these services to market quickly and efficiently. We are also impressed by the modern, open and scalable capabilities of the solution, particularly the in-built analytics, which will help us to better understand our customers’ smart digital banking needs.”

The key proposition for digital banks is providing a customer experience that traditional banks struggle to offer. This requires modern, cloud-native technology that facilitates innovation whilst future-proofing investment. For TONIK, Fusion Essence Cloud will be deployed out of the Microsoft Azure Southeast Asia Region (Singapore Data Center), which will allow for both low latency and data residency. TONIK will benefit from a low cost of entry into the market, ease and speed of deployment, and the ability to increase business volumes and diversify its product set cost-effectively. It will also benefit from ongoing software updates and, in time, access to further innovation via FusionFabric.cloud, Finastra’s platform for open innovation and the development of applications.

European neobanks, including revverbank and Gravity, are already being powered by Fusion Essence Cloud, and this deployment in Southeast Asia will help bring the benefits of innovative digital banking to the Philippines.

Anand Subbaraman, General Manager, Retail Banking at Finastra, said, “TONIK is well positioned to replicate the disruption that has taken place in Europe, where digital banks have quickly attracted millions of customers and billions of dollars in investor funding. Using digital technologies and a lower-cost operating model, TONIK will be able to offer customers the products and services they need, delivered in a convenient way, as well as increasing opportunities for financial inclusion in Asia. Fusion Essence Cloud is ideally suited to help TONIK achieve these goals, as well as see a fast return on its investment. We are extremely proud to be TONIK’s partner in bringing digital banking to the Philippines for the first time.”

 

SOURCE Finastra

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