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Leap Launches Home Equity Sharing Capital Access Program and Robust Education Platform to Help Close Wealth Gap




Leap Analytics Inc. (“Leap”), a fintech real estate investment firm that seeks to transform the home finance marketplace and empower historically underserved communities to help close the wealth gap, today announced the launch of its full-service website, featuring free financial education resources and information regarding its customized Home Equity Agreements (HEAs).

Headquartered in Los Angeles, Leap is led by Ashley Bete, a fintech and real estate entrepreneur who has served in executive roles at leading global financial and real estate institutions.

Mr. Bete said, “We combine innovative technology with institutional real estate expertise to empower homeowners in communities of color to improve their financial standing and credit scores. Our goal is to narrow the wealth gap in this country by focusing on education and developing solutions that earmark funds to enhance our clients’ financial relevancy, while expanding their access to financial opportunities.”

How Leap HEAs Work

Home equity is a $19 trillion market in the United States and access to home equity is still the leading wealth generator in the country. HEAs, also known as Home Equity Investments (HEIs), are a new asset class allowing homeowners to access the equity accrued in their homes. An HEA is not a loan. It is a shared agreement between a homeowner and a company (typically an investment firm), where the homeowner receives a lump sum cash payment in exchange for a specified percentage of the home’s present and projected future value, for a fixed period (usually 10 or 30 years).

As the cost of home equity lines of credit rise with interest rates, an HEA provides a more affordable way to unlock home values to address pressing financial needs.

Through HEAs, Leap enables homeowners to stay in their communities and participate in the often-dramatic economic improvements that accompany gentrification.

With the proceeds of an HEA, homeowners can pay down existing debt, resulting in lower debt-to-income ratios (DTIs) and higher credit scores. Leap provides cash payments in exchange for a 6% to 18% equity stake in a home. The homeowner must have at least 30% in equity to qualify for Leap’s program. At the end of a typical HEA term — usually 10 or 30 years — the homeowner can either buy back their equity, extend the agreement’s term, or sell the home so the equity stake can be recouped by Leap or the investor.

Leap Solutions

Leap developed a proprietary family of one-year HEA solutions, which have the shortest term of any HEA on the market. Leap’s gains are capped at a 16% to 28% internal rate of return to provide its investors with a competitive risk-adjusted return.

  • Leap Restore gives homeowners more flexibility and aims to position them as creditworthy borrowers within six months.
  • Leap Relax will provide retired homeowners the ability to ease financial pressures.
  • Leap Revive helps struggling business owners stabilize their finances.

Leap will also partner with like-minded financial institutions that share its core value of demonstrating a commitment to DEI and ESG, and using its fully automated platform to process HEAs, which removes the subjective aspect of the application process.

“Leap was founded to be more than a business that provides homeowners with much-needed capital and investors with solid return potential,” Mr. Bete added. “Together with companies that share our values of integrity, gender-pay equity, and a demonstrated commitment to empowering communities of color, we can scale our mission of closing the wealth gap and helping every homeowner achieve the American dream of prosperity. Our mission is to close the homeownership and wealth gap by providing real estate education and financial literacy for all.”


Stockify goes fully Digital, offers Mutual Funds and Dematerialization of shares




In a strategic move to expand its offerings and provide a comprehensive suite of financial services, Stockify, a leading platform for Unlisted and pre-IPO shares in India, has announced plans to venture into the Mutual Fund space.

This development comes as part of Stockify’s mission to assist High-Net Individuals (HNIs) and Non-Resident Indians (NRIs) in accessing various investment opportunities in India via the pre-IPO route and maximizing their wealth. The company is also set to facilitate the Dematerialization of Shares. (Conversion of Physical Share to DEMAT account.)

Founded by Piyush Jhunjhunwala (CA, CPA) and Co-Founded by Rahul Khatuwala (CA) both seasoned finance professionals with decades of experience in global conglomerates.

Stockify has already carved a niche for itself in the Indian Financial landscape. The platform primarily focuses on providing access to Blue-Chip Stocks before their listing on the Indian Stock Market (via the Pre IPO Route) enabling early investors to potentially achieve significant returns. While expressing the company’s intent behind expanding its services, Jhunjhunwala said, “Mutual Funds are the backbone of the Indian Equity market, and we believe it is important that NRI and retail investors in India can greatly benefit from our new offering and this will help them in creating long-term wealth.”

The recent announcement of Stockify entering the Mutual Funds market follows the company’s successful acquisition of a Mutual Fund license in the first quarter of 2023. Alongside Mutual Funds, Stockify intends to offer an array of other financial products, like Start-up Funding, fixed investment products like Bonds and Non-Convertible Debentures (NCDs) and Insurance-Linked Investments, in the coming months. Notably, Stockify plans to make all its products and services 100% accessible online, aligning with the Digital India vision of our beloved Prime Minster Mr. Narendra Modi.

Currently, Stockify boasts 70 Unlisted/pre-IPO companies on its platform, with in-depth research conducted on all of them as stated by Jhunjhunwala. It offers a simple online process where transactions can be completed online, and shares get transferred to the clients DEMAT account on the same day.

Stockify’s global presence was recently showcased at the Dubai Fintech Summit (DFS). The two-day event brought together over 5,000 C-suite leaders, 1,000-plus investors, and 150 speakers from around the world. Stockify was selected as one of the proud exhibitors at the summit, solidifying its position as one of the world’s largest providers of pre-IPO and Unlisted Stocks in India.

With its ambitious expansion plans and commitment to innovation, Stockify is set to continue revolutionizing the way investors access and engage with financial opportunities in India and beyond.

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VerifyVASP Wins Hong Kong’s IFTA Fintech and Innovation Awards 2022/23: Regulatory Technology Award




VerifyVASP was awarded the Institute of Financial Technologists of Asia (IFTA) Fintech and Innovation Awards 2022/23 for Regulatory Technology. The awards exhibit the extraordinary achievements made by companies and individuals in the finance and technology industries.

The IFTA Awards, themed “Game Changers: The Rise of Next Gen Fintech”, celebrates ground-breaking ideas and technologies that are shaping the future of finance. The distinguished Guest of Honour presenting the IFTA awards was the Under Secretary for Financial Services and the Treasury for Financial Services in the Hong Kong SAR, Mr. Joseph Ho-Lim Chan.

VerifyVASP has established itself as a comprehensive Travel Rule solution provider catering to Virtual Assets Service Providers (VASPs) worldwide. Its commitment to facilitating full compliance with Travel Rule regulations across multiple jurisdictions has earned it this prestigious recognition.

This accolade comes at an opportune time, as VerifyVASP supports the Hong Kong Virtual Asset Trading Platforms (VATPs) in adhering to the regulatory framework set forth by the Hong Kong Securities & Futures Commission, which came into effect on 1 June 2023. VATPs are granted a grace period till 1 January 2024 to ensure compliance with Travel Rule requirements.

The IFTA Fintech and Innovation Award underscores VerifyVASP’s capabilities, including:

  • Facilitation of counterparty due diligence: VerifyVASP assists VASPs in counterparty due diligence before the first transaction, to stringent standards akin to that observed in correspondent banking. This is achieved through VerifyVASP’s own rigorous due diligence process, encompassing over 100 VASPs.
  • Immediate and secure transmission: Leveraging a scalable architecture, VerifyVASP ensures immediate and secure transmission of required information, alongside verification of such information. To date, the platform has processed over 5 million transfers.
  • Adherence to international data protection laws: VerifyVASP complies with international data protection law thanks to its decentralised, end to end encrypted architecture. This dedication to data security and privacy sets it apart in the industry.
  • Asset agnostic: VerifyVASP’s capabilities extend to accommodating any type of virtual asset, having processed over 400 cryptocurrency variants on its platform.
  • Integration of third-party screening solutions: VerifyVASP seamlessly integrates third-party solutions, allowing for efficient screening of originators or beneficiaries before blockchain transactions.


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Nagad’s Digital Bank on cards, Sadaf to lead the side




Nagad, Bangladesh’s leading Mobile Financial Service (MFS) provider, is gearing up to establish the much-anticipated digital bank, as it is going to secure a licence from the Bangladesh Bank within a couple of months.

Sadaf Roksana, a co-founder and executive director of Nagad Ltd., has been entrusted with the responsibility of leading her company’s transformative venture that will bring greater convenience to the lives of millions of Bangladeshis, reducing their reliance on traditional brick-and-mortar banks.

The MFS provider earlier applied to secure a digital bank licence following the central bank’s call for applications through its website. The Bangladesh Bank also formulated necessary guidelines to widen and accelerate financial inclusion, which will also create jobs for young IT workers.

The world’s fastest mobile money carrier is going to venture into the digital banking era at a time when the financial landscape across the globe is fast evolving towards digitalisation, driven by technological advancements and changing consumer preferences.

Taking on the new assignment, Sadaf, a seasoned financial executive with a remarkable track record in the fintech industry, is poised to steer Nagad’s digital bank towards success. Once Nagad gets the digital bank licence, it will provide its consumers with innovative and convenient banking solutions.

“We are very excited that we are going to introduce digital banking services to the people of Bangladesh within a couple of months,” Sadaf said, adding, “This endeavour aligns perfectly with our vision of enhancing financial inclusion and ensuring easy access to all financial services also at affordable prices.”

Nagad is already well-equipped to launch a digital bank. It will start serving customers soon after getting the licence, Sadaf assured.

Under its digital banking platform, Nagad will introduce many new services, such as single-digit and collateral-free loans for small informal businesses and farmers who now are to take loans from moneylenders even at 40% interest rate per day, she pointed out.

“Thus, we will encourage them to come under financial inclusion, thus putting their money into the formal channel,” she expressed her optimism.

To assess one’s creditworthiness, Nagad has created an AI-based credit rating system that will analyse all transactions-related data available on public domains using one’s NID and mobile number, Sadaf Roksana added.

As Nagad goes ahead with its plans, all eyes will be on Sadaf Roksana and her team as they will embark on this exciting journey towards a more digitised and inclusive financial future for the country.

SOURCE Nagad Limited

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