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OnDeck CEO Noah Breslow to Deliver Keynote Address at 2019 LEND360 Conference

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OnDeck® (NYSE: ONDK), the leader in online lending to small business, today announced that Chairman and CEO Noah Breslow will be a keynote speaker at the LEND360 Conference in Dallas, Texas on Thursday, September 26, 2019. Mr. Breslow will discuss industry trends in alternative data and how they are improving many aspects of online lending to small businesses.

The LEND360 conference is an annual event that brings together participants from the online lending industry. Thought leaders and FinTech innovators will convene in Dallas from September 25-27 to learn about trends and new technologies revolutionizing the field, make new connections to grow their businesses, and collaborate on cutting-edge solutions to the industry’s most pressing challenges.

“It is imperative to open up and expand access to financing for every creditworthy small business owner,” said Noah Breslow, Chairman and CEO, OnDeck. “Applicants should not encounter long waits, endless paperwork and delays in decision-making when we have the proven technology and transparency to make those lending decisions online within minutes and fund small business owners the same day or in real time.  We should continue to relentlessly innovate on behalf of our nation’s small businesses.”

Under Breslow’s leadership, OnDeck pioneered the use of data analytics and digital technology to make real-time lending decisions and deliver capital rapidly to small business owners online.  Since its first loan in 2007, OnDeck has provided over $12 billion in financing to customers in 700 different industries across the United StatesCanada and Australia. It is one of the largest non-bank online lenders to small businesses in the world.*

 

SOURCE On Deck Capital, Inc.

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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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