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IMC Pan Asia Alliance Is Now Known as Tsao Pao Chee Group



SINGAPORE, April 12, 2024 /PRNewswire/ — IMC Pan Asia Alliance (IMCPAA) unveiled a historic rebrand as (TPC) Tsao Pao Chee Group Pte Ltd at the AT ONE International Festival in Suzhou, China today. This significant milestone, under the helm of fourth-generation steward and Chavalit Frederick Tsao, Chairman, TPC (Tsao Pao Chee) Group propels the company into an exciting new era laser-focused on impactful investments and fostering a well-being economy.

The TPC brand honours the company’s original tradename, Tsao Pao Chee, which dates back about 120 years during the Qing Dynasty. It signals its evolved commitment to creating value through stewardship, collaboration, and entrepreneurship in service of life’s flourishing. This rebrand echoes Chavalit’s clarion vision: transforming family businesses into catalysts for positive change across societies.

“This is more than just turning the page. We need to go back to finding our own roots, our own culture, our own morality, and ethical traditions. Therefore, I decided to return to our roots and bring back the original trade name of the family business used by my great grandfather because that has always been our true brand, ” Chavalit said.

The rebranding is more than just a new name and logo. It symbolises the dedication to aligning business success with the betterment of lives and communities. Under the TPC banner, the company is poised to leverage its history of innovation and strategic partnerships to drive sustainable growth. Strategic business verticals like IMC Industrial and OCTAVE will reorient toward adding value to co-create the well-being economy. TPC’s investment arms have already redirected USD 320 million to invest in the impact and well-being sectors.

TPC is also transforming its approach to corporate philanthropy by incorporating it into its business culture. Three non-profit units have been established to achieve this: OCTAVE Institute, No.17 Foundation, and Restore Nature Foundation, which focuses on restoring human relationships, collaboration, and nature, respectively.

Mr Tsao Wa-Chang founded TPC in the late 1800s. Over four generations, for nearly 120 years, the company evolved from a traditional shipping company into a multinational business. Today, TPC is transforming into a purpose-driven profit business with a mission to “serve human well-being and create wealth at the same time.”

Under Chavalit’s stewardship, OCTAVE, which fused wisdom from Eastern practices with modern science, is created to foster individual and collective growth. Chavalit’s founding of OCTAVE and involvement in various philanthropic endeavours speak to his commitment to stewarding the business as a purpose-led profit institution.

The brand’s new logo melds English and Chinese characters into one holistic emblem, and the colour “Awakening Red” represents new materialism. TPC’s corporate colour, emerald green, reflects TPC’s deep reverence for nature as the source of life, while its crisp, flowing geometry symbolises constant evolution and the open exchange of ideas.

TPC calls on entrepreneurs, investors, economists and socially conscious leaders across the globe to join them in co-creating an economy where purpose and profit flourish in tandem. Through innovation, courage, and the radical embrace of interconnectedness, TPC is committed to driving progress where it matters most – the flourishing of all life.

About Tsao Pao Chee Group Pte Ltd

TPC (Tsao Pao Chee) is a purpose-led-profit family business consisting of OCTAVE, IMC Industrial, and various non-profit organisations operating as one integrated system to create a well-being business ecosystem. The company’s headquarters is in Singapore, with a strong presence in China, Indonesia, and Thailand. TPC employs more than 8000 people. 

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United Payment secures e-money licence in Azerbaijan




United Payment Secures E-Money Licence from Central Bank of Azerbaijan

Fintech company United Payment has proudly announced that it has secured an e-money licence from the Central Bank of Azerbaijan. This significant milestone marks United Payment as the first Turkish company to receive such a licence from the Azerbaijani central bank. With this approval, United Payment, which has been serving the region since 2021, can now offer enhanced capabilities including account opening, electronic money solutions, virtual POS services, and national and international money transactions within the legal framework.

Expanding Regional Presence

Beyond Azerbaijan, United Payment is active in Georgia, Romania, England, and Turkey. The new e-money licence will enable the company to further promote financial inclusion, expand digital payment channels, and advance cashless payment solutions in the region. As part of its expansion, United Payment is set to begin offering payment services through the Turan mobile application.

Strategic Development Goals

United Payment aims to provide comprehensive financial solutions to a diverse clientele, including banks, multinational corporations, small and medium-sized enterprises (SMEs), municipalities, and other fintech companies. The firm is dedicated to broadening access to financial instruments and enhancing financial inclusion in the regions it operates.

According to United Payment officials, the new e-money licence will not only allow the company to continue its operations in Azerbaijan but also expand its service offerings. Given the strong social and economic ties between Turkey and Azerbaijan, United Payment aims to solidify its market position in Azerbaijan. The company plans to offer a variety of services under regulatory compliance, including opening payment accounts, electronic and cash collections, credit collections, transactions with payment cards and similar systems, QR payments, money transfers, and e-money account services.


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AXA named as an Official Partner of UEFA Women’s EURO 2025




AXA has proudly announced its support for the UEFA Women’s EURO 2025 as an Official Partner, furthering its sponsorship programme initiated in 2020. The prestigious event will take place in Switzerland from July 2 to 27, 2025.

Commitment to Women’s Football

This partnership underscores AXA’s dedication to promoting women’s football, building on its long-term support for the sport. Since 2020, AXA has been the main sponsor of the AXA Women’s Super League and the AXA Women’s Cup in Switzerland. By investing in women’s football, AXA aims to bolster women’s sports and promote its brand ethos, “Know You Can,” encouraging self-belief among its customers.

Statements from AXA Leaders

Fabrizio Petrillo, CEO of AXA Switzerland, expressed his enthusiasm, saying, “I’m so excited to support UEFA Women’s EURO 2025 together with other European AXA companies as a main sponsor. We are sending a strong signal and making a contribution to ensure that the players and fans can experience a great event and further strengthen women’s football. I’m looking forward to a fantastic summer of football in 2025!”

Volunteering Opportunities

The partnership includes more than just financial support. AXA employees will have the opportunity to volunteer during the tournament as part of the UEFA Women’s EURO 2025 Volunteer Programme, playing a crucial role in the event’s success.

Guy-Laurent Epstein, UEFA Marketing Director, commented, “AXA is a dedicated supporter of women’s football in Switzerland, so we are thrilled to partner with them for what will be an unforgettable UEFA Women’s EURO 2025. We look forward to working together to make this the can’t-miss event of next summer while also strengthening women’s football in the host country and throughout Europe.”

Enhancing Visibility for Female Players

Andreea Prange, Head of Customer Experience & Strategy at AXA Switzerland, added, “Promoting women’s football is a topic I hold dear to my heart. That’s why I’m delighted that AXA, as a partner of the UEFA Women’s EURO 2025, is also committed to increasing the visibility of female players at the international level.”

Tournament Details

Doris Keller, Tournament Director of UEFA Women’s EURO 2025, stated, “AXA, a long-time supporter and partner of women’s football in Switzerland and globally, is a perfect fit to become a global partner of UEFA Women’s EURO 2025. We look forward to collaborating with AXA on the UEFA Women’s EURO 2025 Volunteer Programme, as the 2,500 volunteers will play a highly essential and valuable role throughout the tournament welcoming everyone to the host country.”

The UEFA Women’s EURO 2025 will feature 16 teams competing in eight Swiss cities, attracting an estimated 500 million viewers worldwide and offering over 700,000 tickets for fans to attend the matches live.

Partnership Duration

The partnership between AXA and UEFA will continue until the end of August 2025. The financial terms of the sponsorship remain confidential.


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Lucinity Wins the Microsoft Partner Awards for 2024 for Partner of the Year – Iceland and Sustainability and Social Impact



REYKJAVÍK, Iceland, May 28, 2024 /PRNewswire/ — Lucinity, a leading AI company for financial crime prevention, won two awards at the Microsoft Partner Awards for 2024, including Partner of the Year – Iceland and Sustainability and Social Impact, highlighting Lucinity’s innovations and contribution to positive societal change. 

“Congratulations to Lucinity for being recognized as the Partner of the Year – Iceland 2024! Lucinity is leading digital transformation and delivering innovative products in their domain,” says Microsoft’s leadership.

For the past year, they have played a key role with their offerings, skilled resources, and their ability to drive change and innovative solutions both locally in Iceland and across the globe. Lucinity has had significant social impact and growth while supporting our joint customers in their AI-transformation journeys.”

In June 2023, Lucinity launched the world’s first copilot for FinCrime prevention powered by Microsoft Azure OpenAI called Luci. Luci stands out in the financial services industry with specialized skills for FinCrime prevention such as adverse media checks, case analysis, and SAR writing. 

Built on the robust and scalable Microsoft Azure platform, Lucinity offers customers a trusted SaaS product. Additionally, Lucinity’s presence on the Microsoft Azure Marketplace allows companies to leverage their Microsoft Azure credits to access the platform. 

The seamless integration with Microsoft’s Azure stack has enabled Lucinity to implement advanced AI capabilities, fostering rapid innovation and enabling banks and fintech companies to utilize AI securely and audibly. Furthermore, Luci significantly reduces investigation times from 2.5 hours to just 25 minutes, saving Tier 1 banks an estimated $25 million annually.

Guðmundur Kristjánsson (GK)Lucinity’s Founder and CEO comments, “These awards are a testament to the strength and reliability of our solutions, made possible by our strategic partnership with Microsoft. Utilizing Microsoft Azure, we have been able to drive rapid innovation and create a robust, scalable platform that meets the rigorous requirements of compliance teams.” 

On the Sustainability and Social Impact Partner Award, Microsoft says, “Lucinity, with their innovative AI solutions, has really tried to combat this huge global challenge. They use ‘Human AI’ to enhance financial crime prevention, combining AI with human expertise for efficient, user-friendly solutions. Additionally, Lucinity has developed a tool called Luci, an AI-powered copilot that helps transform financial crime prevention from a process that took hours to one that takes minutes.”



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