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Galileo Changes Legal Name to Reflect Position as Industry Leader in Financial Technology

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Galileo, the company that powers the world’s leading fintechs, announced today that it has updated its legal name to Galileo Financial Technologies, Inc. from Galileo Processing, Inc. The company will continue to be known informally as Galileo.

“What we bring to our fintech, financial institution and investment firm clients goes far beyond processing,” explained Galileo CEO Clay Wilkes. “The small, but meaningful, change to our legal name more accurately captures the capabilities of our sophisticated payments platform, including the power, speed and simplicity of our open APIs and the full-stack support for the functionality that must sit behind efficient and secure financial services.

“Galileo’s APIs give global fintech leaders the ability to use our powerful technology platform to innovate in the banking and payments ecosystem,” he continued. “They can use our platform to  move fast to begin issuing payment credentials, with the confidence to grow and scale profitable businesses.”

World leading fintechs—including Chime, KOHO, Robinhood, TransferWise, Varo and many others—use Galileo’s payments platform in a variety of use cases, such as challenger banking, lending, consumer payments, commercial payments, gig economy applications and wealth management solutions. Earlier this summer, the company announced Galileo Money+, a new product that enables registered investment advisors to create white-labeled bank accounts.

With more products in the pipeline and an aggressive roadmap for adding new platform features, Galileo continues to enable its clients to challenge the status quo in payments.

Check out Galileo at www.galileo-FT.com.

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Broadridge Brings Together Wealth Business Under Michael Alexander

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Broadridge Financial Solutions, Inc. (NYSE: BR), a global Fintech leader and part of the S&P 500® Index, today announced that Michael Alexander has been appointed President, Wealth Management. In this newly created position, he will be responsible for bringing together Broadridge’s Wealth solutions into an integrated, market-leading Wealth Management business that will uniquely address Wealth Management firms’ need to transform their technology and business models. Mr. Alexander will report directly to Tom Carey, President of Global Technology and Operations.

“Mike is a recognized leader in the financial services industry and has a passion for creating leading-edge, SaaS-based wealth management solutions,” said Mr. Carey. “Mike will drive Broadridge’s efforts to enhance the advisor and client experience through a single platform that will be a foundation for the industry.”

As President of Broadridge’s Wealth Management business, Mr. Alexander will take leadership of the Broadridge Wealth Platform, the next-generation open platform that is creating a modern, best-in-class industry-level wealth management technology solution. This platform, which is at the center of a recently announced sale to UBS, enables wealth managers to drive their business to the next level while mutualizing investments in technology, innovation and security. With the Broadridge Wealth Platform, firms will be able to deploy an integrated front-, middle-, and back-office solution that optimizes Financial Advisor productivity, creates a richer client experience and digitizes enterprise-wide operationsBroadridge Wealth Management also offers market-leading component solutions for Advisor Websites, Data Aggregation, Performance Reporting, Corporate Actions, and back- and middle-office Managed Services, among others.

Since joining Broadridge in 2006, Mr. Alexander has taken on roles of increasing responsibility in both technology platforms and managed services. In these roles, he has led numerous complex client engagements and successful acquisitions.

Prior to joining Broadridge, Mr. Alexander was Senior Vice President of Operations at Charles Schwab. He is a member of the SIFMA Operations and Technology Steering Committee.

 

SOURCE Broadridge Financial Solutions, Inc.

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Bajaj Housing Finance Limited Bags the BFSI Digital Innovation Awards 2020 for Cloud Solutions

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Bajaj Housing Finance Limited (BHFL), a 100% subsidiary of Bajaj Finance Limited, has won the ‘BFSI Digital Innovation Award’ for Cloud Solutions at the recently held Express BFSI Technology Conclave and Awards 2020.

Organised by the Express Computer, an IT business magazine from the Indian Express Group, the BFSI Technology Conclave and Awards, is one of the largest congregation of IT decision-makers, senior executives and partners in India. The event, held in Pune from January 24th-25th, 2020 witnessed the best from the BFSI sector participate as speakers and share their views on the way ahead for one of the biggest financial markets in the world.

The conclave ended with the BFSI Digital Innovation Awards which were given away to Indian Banks or Indian subsidiaries of MNC BFSI institutions in the BFSI industry that demonstrate the innovative use of a particular technology or a combination of technologies for distinct business benefit. There were 13 distinct categories – like Big Data, Enterprise Mobility, Data Center, Cloud, Artificial Intelligence, Enterprise Security, Blockchain and Enterprise Application among others.

The participants were judged on their effectiveness of deploying a completely new solution or innovative use of existing technology to gain a competitive edge, improve operations, become more responsive to customers and partners or, simply, to add to the top or bottom line.

Sharing his delight at the occasion of winning the award for excellence in Cloud, Atul Jain, Chief Executive Officer- Bajaj Housing Finance Limited said, “It is indeed a proud moment for all of us at BHFL and would like to congratulate the entire team for helping us achieve this prestigious recognition at the Express BFSI Digital Innovation Awards 2020. Since inception, our core mission has always revolved around providing the best experience for our customers through innovation and customer engagement.”

 

SOURCE Bajaj Housing Finance Limited

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LiteLink Technologies Subsidiary uBUCK Technologies Completes Second Tranche of Private Placement to Fuel Growth

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LiteLink Technologies Inc. (“LiteLink”) (CSE:LLT)(OTC:LLNKF)(FRA:C0B), a key player in logistics platforms and payment solutions, is pleased to announce that its subsidiary uBUCK Technologies SEZC (“uBUCK”) has closed the second tranche of a non-brokered, non-dilutive private placement previously announced on September 23, 2019.

Under the second tranche, uBUCK issued 1,000,000 preferred shares at a price of US$0.50 per share for gross proceeds of US$500,000. Under the terms of the offering, uBUCK expects an additional minimum investment of US$1,500,000 will be made in exchange for 3,000,000 preferred shares at a price of US$0.50 per share by June 30, 2020.  The investor will also have the option to invest an additional US$2,500,000 for a total of 8,000,000 preferred shares at a price of US$0.50 per share by September 30, 2021.

Along with the first tranche closing announced September 30, 2019, uBUCK has now raised a total of US$900,000.

uBUCK intends to use the gross proceeds of the private placement to complete the development of the uBUCK and Streambucks digital wallets, accelerate growth, increase customer acquisitions, and conduct additional product testing.

Because the private placement was made directly into a subsidiary of LiteLink, it is non-dilutive to LiteLink shareholders. The transaction is subject to all necessary regulatory and stock exchange approval.

The preferred shares come with first rights to dividends of 6% (of the amount invested) and first claims to assets up to the investment in case of liquidation. Upon closing of this tranche, the investor will own 3.6% of uBUCK.

 

SOURCE LiteLink Technologies Inc.

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