Fintech PR
Nielsen: Virtual Banks to Become a Real Game Changer to Banking Industry Landscape
With the rapid development of Financial Technology (FinTech), the idea of virtual banking has been widely discussed and is gaining more traction among the local banking population. The Hong Kong Monetary Authority (HKMA) first issued the Guideline on the Authorization of Virtual Banks under the Banking Ordinance back in 2000. However, the concept remained at an inception stage until 2018 when HKMA started to receive license applications. So far, out of the 30 applications, only eight had been approved and it was not until March 2020 that the first virtual bank was launched, 20 years after the first issuance of the Guideline.
It has been a long journey for virtual banking to be officially in place in town. To explore the dynamics of virtual banking in Hong Kong, Nielsen has conducted a Personal Finance Monitor to study customer perspective towards virtual banking. This yearly syndicated study aims to provide a holistic view on consumers’ personal financial status and identifying the impact virtual banking brings to the financial industry.
INCREASED AWARENESS AND ADOPTION OF VIRTUAL BANKING
According to the Nielsen Personal Finance Monitor 2020, more banking consumers have heard of the term “virtual bank”, with the corresponding awareness level rocketing from 67% in 2018 to 93% in 2020. However, 42% of them have heard of this term but do not have a strong understanding of it and 38% of them are unable to correctly cite any virtual bank’s name.
Around 7% of the banking customers claim that they are currently using virtual banking services, which is an encouraging figure as the first virtual bank has become fully operational just three months before the survey took place. Moreover, the survey shows that there has been a spike of intention to use virtual banking services, from 20% in 2018 to 37% this year.
“While virtual banks gain popularity among the public, consumers lack a clear understanding of the services and nature. It is imperative for corresponding financial organizations to dedicate more efforts to promote the virtual banking concept and educate the public about this innovative initiative,” recommends Eddie Au, Senior Director, Financial Services, Nielsen.
MOBILE WALLET USERS ARE MORE RECEPTIVE TO VIRTUAL BANK
The study also observed the relationship between virtual bank usage intention and mobile wallet usage. Over half (51%) of active mobile wallet users who use it on a weekly basis express their intention to use virtual banking services in the future, compared with remarkably lower rates of 27% among inactive mobile wallet users and 16% among non-users. The result is not surprising as frequent mobile wallet users are more tech-savvy and have already adopted technology for financial management. In addition, the decision of using virtual banking for customers who are not active peer-to-peer (P2P) service users could be hindered by their unfamiliarity with FinTech, such as making cash deposits or withdrawals through Fast Payment System (FPS).
“Given the positive relationship between virtual bank usage intention and mobile wallet usage, partnering with various Stored Value Facility (SVF) providers could help boost virtual bank usage. Alternatively, the feasibility of facilitating SVF issuance should also be explored,” advised Eddie.
ISSUING CREDIT CARDS AS AN EFFECTIVE WAY TO LURE VIRTUAL BANKING CUSTOMERS
When it comes to popular virtual banking services, the survey reveals that around 75% of potential virtual bank customers prefer to start using virtual banks by opening a deposit account. Meanwhile, credit card services are also on demand, with over half of respondents (54%) showing interests in virtual bank credit card applications. Nonetheless, customers are less excited about virtual personal loan services, which are regarded as one of the popular market entry products for virtual banks. Only 18% of the customers claim they would consider applying for the loans in the future.
“Virtual bank has become a prominent and irreversible trend. Continuous growth is expected in virtual bank usage in the coming years along with the opening of more virtual banks. Still, facing competition from not only their peers but also traditional banks, virtual banks are recommended to fight for market share by putting their focuses on the most demanded services and offering competitive deposit interest rates to trigger trial usage,” said Eddie.
Virtual banks are expected to disrupt the financial industry by offering innovative and extraordinary products and services which are attractive and competitive, likely to force traditional banks to upgrade and improve their offerings and make better use of technology. In the end, banking customers would benefit from the competition.
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
The following files are available for download:
|
Invitation to presentation of EQT AB’s Q1 Announcement 2024 |
|
|
EQT AB Group |
View original content:https://www.prnewswire.co.uk/news-releases/invitation-to-presentation-of-eqt-abs-q1-announcement-2024-302109147.html
- 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.”
Photo – https://mma.prnewswire.com/media/2380039/Photo_1__2024_CEO_Investor_Day.jpg
PDF – https://mma.prnewswire.com/media/2380040/Press_Release__2024_Kia_CEO_Investor_Day_240405.pdf
View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/kia-presents-roadmap-to-lead-global-electrification-era-through-evs-hevs-and-pbvs-302109142.html
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
Logo – https://mma.prnewswire.com/media/1430981/BIOVAXYS_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/biovaxys-technology-corp-provides-bi-weekly-mcto-status-update-302108920.html
-
Latest News7 days ago
HSBC-backed fintech Monese is considering splitting its operations as it grapples with increasing losses.
-
Latest News6 days ago
EverBank has announced a groundbreaking partnership with Finzly, poised to revolutionize payment processing.
-
Latest News6 days ago
FinTech leaders express caution regarding the promises made in #Budget2024 concerning open banking, stating that the “devil is in the details.”
-
Latest News6 days ago
Gotion High-tech’s operating profit up 391% in 2023, nearly RMB 2.8 billion invested in R&D for the year
-
Latest News6 days ago
Aurionpro Solutions acquires Arya.ai, to power next generation Enterprise AI platforms for Financial Institutions
-
Latest News7 days ago
Wells Fargo, a leading financial institution, is set to revolutionize its trade finance operations by incorporating artificial intelligence (AI) technology through its collaboration with TradeSun.
-
Latest News6 days ago
Latvian Fintech inGain Raises €650,000 for No-Code SaaS Loan Management System
-
Latest News6 days ago
Credit card fintech Pliant lands €18m Series A extension led by PayPal Ventures