SINGAPORE, April 18, 2024 /PRNewswire/ — DataTracks, a provider of cloud-based software to automate/generate compliance reports for filing with financial/security regulators to more than 28,000 business enterprises in 26 countries, celebrates the completion of 19 years of service and innovation.  Founded with a vision to make regulatory compliance “accurate, reliable, timely, and easy”, DataTracks has grown into a leading name in the industry, worldwide with cutting edge software that incorporates “artificial intelligence” aided features to reduce “time to prepare” and improve “accuracy”.

Decades of Dedication and Expertise

Over nearly two decades, DataTracks has achieved significant growth, with its software delivering more than 400,000 reports, showcasing its pivotal role in regulatory reporting. The software and service address regulations across diverse jurisdictions, including SEC in the USA, HMRC and FCA in the UK, Revenue in Ireland, CIPC in South Africa, ACRA in Singapore, MCA in India, SSM in Malaysia and ESMA, EBA, and EIOPA in Europe. 

DataTracks distinguishes itself in the industry

(a) with its global footprint (preferred by business enterprises whose regulatory obligations are spread across multiple jurisdictions)

(b) with its state-of-the art software that incorporates “AI/ML” features and

(c) with its credentials for information security (including ISO 9001:2015 and ISO 27001:2013 certifications)

Addressing the employees and spouses in a town hall meeting to celebrate the event, Vinod P John, President of DataTracks said: “We are happy to start our 20^th year in the industry. I have to thank the 28,000 clients who trust us and the several hundred employees who developed our software and who helped customers (and our internal team) prepare compliance reports for reaching this milestone.  We’ve always believed in leveraging technology to make regulatory compliance as easy, quick, timely, and accurate as possible for our clients.  Our continuous investment in AI and machine learning is a testament to this belief, and it’s what keeps us at the forefront of the industry.”

Looking ahead, DataTracks is ready to address upcoming mandates such as the DATA Act and FTA in the US as well as the MBRS/XBRL mandate by SSM in Malaysia.

About DataTracks

DataTracks is a Singapore-based globally renowned leader in providing cloud-based regulatory compliance software for self-use and “black box services” using the same software, catering to 28,000 clients across 26 countries. In 19 years DataTracks has helped its client enterprises prepare more than 400,000 compliance reports for filing with financial/security regulators in several jurisdictions. Financial analysts have rated the quality of reports generated using DataTracks as top of industry for quality; significantly above that of several of its competitors.  For further information, visit www.datatracks.com.

For Business Enquiries: Email: [email protected]; Phone: Singapore: +6531582850, US: +1(646)9048324, UK: +44(0)2036088035

Media Contact: [email protected] 

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Indian digital payments fintech BharatPe has promoted Nalin Negi, its CFO of almost two years, to the position of permanent CEO.

Negi has acted as the fintech’s interim boss since January last year, when Suhail Sameer – who had served as BharatPe’s CEO since August 2020 – departed the post.

Rajnish Kumar, chairman of BharatPe’s board, states that Negi’s “extensive experience” and the growth accumulated under his leadership designates him as a “natural choice to lead the company”.

The fintech claims to have recorded a 182% increase in revenue from operations during his tenure as interim CEO, and marked its first EBITDA-positive month last October.

Moreover, it states that its new boss’ strengths lie in formulating and implementing strategies that leverage market opportunities, and “fostering a culture of innovation and customer-centricity”.

Prior to joining BharatPe in 2022, Negi served as CFO for the Indian credit card company and payment provider SBI Card – where he is credited with steering the company’s IPO – as well as a controller for GE Capital Services India.

Commenting on the fintech’s “strategic focus” now that he has taken the company reigns permanently, Negi asserts that BharatPe will concentrate on “sustained profitability, scaling lending businesses, and launching new merchant-centric products”.

BharatPe, which was founded in 2018 and is noted for launching India’s first UPI interoperable QR code, says it will now begin its search for a new CFO.

Source: fintechfutures.com

The post BharatPe names Nalin Negi as permanent CEO appeared first on HIPTHER Alerts.

NEW YORK, April 17, 2024 /PRNewswire/ — Sotheby’s Financial Services, Inc. (“Sotheby’s Financial”), the world’s leading full–service art financing company, announced today the launch of a first-of-its kind securitization program. The inaugural issuance, which priced yesterday, consists of $700 million of asset-backed notes (the “Notes”) backed by art secured loans. Morningstar DBRS is expected to rate the four classes of Notes at closing with the senior-most class expected to receive the highly coveted AAA (sf) rating.

“We are thrilled to achieve another milestone with the launch of a landmark securitization program” said Ron Elimelekh, Co-Head, Chief Operating Officer, and Chief Capital Officer, Sotheby’s Financial. “This highly successful transaction, which saw strong demand from institutional investors resulting in a significant upsize to the transaction, will help further our mission of unlocking the power of our clients’ collections through the delivery of innovative financial solutions. Now with over $2 billion of funding capacity, Sotheby’s Financial has a flexible and committed funding framework supported by an existing credit facility and this groundbreaking securitization program.”

Over the last two and half years, under the leadership of Mr. Elimelekh and Scott Milleisen, Co-Head and Global Head of Lending, and their dedication to delivering the highest standard of client experience, Sotheby’s Financial has seen significant portfolio growth, ending 2023 with nearly 100% growth over a two-year period and its highest ever portfolio balance. By leveraging its unparalleled expertise in art and luxury, and on the strength of a best-in-class lending ecosystem, Sotheby’s Financial is creating the world’s leading finance company for fine art, cars, collectibles, and luxury goods.

Scott Milleisen added: “Our clients rely on Sotheby’s Financial to provide dependable lending solutions, and today’s news only furthers our commitment to enhancing our offerings to clients. Thanks to our continued access to capital markets, we are the only lender in the marketplace who can consistently offer loans of up to $250 million underwritten based on the value of one’s collection.”

Sotheby’s Financial has originated over $10 billion of loans since inception. Following a renewed strategic focus and investment in Sotheby’s Financial, the majority of lending activity has occurred within the last few years. Jean-Luc Berrebi, Sotheby’s Chief Financial Officer, added: “This transformational moment for Sotheby’s Financial Services is another step forward in our journey to innovate and lead the market in all aspects of our business, giving us significant advantage as a leader for art & luxury lending. With expanded access to capital, we can now significantly increase the scale of SFS to enhance the exceptional client experience that is central to Sotheby’s.”

The securitization transaction is scheduled to close on April 23, 2024, subject to customary closing conditions.

This press release is not an offer to sell, nor a solicitation of an offer to buy, any securities, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

SOTHEBY’S COMMUNICATIONS TEAM

KARINA SOKOLOVSKY | [email protected]
DEREK PARSONS | [email protected]

About Sotheby’s Financial Services

Sotheby’s Financial is the world’s leading full–service art financing company. Sotheby’s Financial enables clients worldwide to unlock liquidity in fine art, luxury items, and other collectibles through financing solutions and innovation. Sotheby’s Financial is vertically integrated with Sotheby’s, one of the world’s largest and most-trusted marketplaces for world-class works of art and rare objects.  Sotheby’s has been uniting collectors with world-class works of art and luxury items since 1744. Sotheby’s empowers an international community of collectors and connoisseurs to discover, acquire, and consign fine art and rare objects.

https://www.sothebys.com/en/about/services/sothebys-financial-services

About Sotheby’s

Established in 1744, Sotheby’s is the world’s premier destination for art and luxury. Sotheby’s promotes access to and ownership of exceptional art and luxury objects through auctions and buy-now channels including private sales, e-commerce and retail. Our trusted global marketplace is supported by an industry-leading technology platform and a network of specialists spanning 40 countries and 70 categories which include Contemporary Art, Modern and Impressionist Art, Old Masters, Chinese Works of Art, Jewelry, Watches, Wine and Spirits, and Design, as well as collectible cars and real estate. Sotheby’s believes in the transformative power of art and culture and is committed to making our industries more inclusive, sustainable and collaborative.

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Stream live auctions and place bids in real time, discover the value of a work of art, browse sale catalogues, view original content and more at sothebys.com, and by downloading Sotheby’s app for iOS and Android.

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