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Centricus and Consello Announce Strategic Alliance

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LONDON and NEW YORK, May 15, 2024 /PRNewswire/ — Centricus, a global investment firm focused on advisory and asset management, and Consello, a leading global advisory and investing platform, today announced the formation of a strategic alliance between their organizations, leveraging their respective operations around the world. 

Under the terms of the new agreement, both Centricus and Consello will collaborate to offer their complementary services to existing and prospective clients.

Centricus is a London-based global investment firm which oversees over $42bn of assets and provides capital markets, corporate finance and investment advisory services across multiple asset classes with a focus on the Financial Services, Technology, Infrastructure and Consumer, Media, Entertainment and Sports sectors.

Consello has two businesses – advisory and investing. It is one of the world’s top advisory firms counseling the leaders of the biggest companies and organizations globally. Services include M&A and investment banking, growth and business development, technology advisory services, creative and marketing services and a sports business called Consello Strive. Consello also operates a global private equity business focused on identifying high-potential mid-market companies and invests capital and expertise to transform their growth.

Under the strategic alliance, a broad offering of financial and business advisory services will be available to the collective client bases including M&A, equity and debt financing, investment advisory services, restructuring and advisory capabilities, Go-To-Market and platform / geographic expansion strategy development and next generation global partnership execution, thereby providing a full suite of global solutions for all client needs.

Centricus Co-Founder and Partner Dalinc Ariburnu said, “We are very excited to enter into this strategic alliance with Consello. We look forward to collaborating with the talented Consello team to deliver a complementary and broadened service offering to our global clients.”

Consello Chairman and CEO Declan Kelly said, “We are delighted to partner with Centricus in this new venture and are very energized by the possibilities it presents. Each of our companies will enable the other to offer a range of additional services they currently do not provide to their clients, so this is a win-win for all involved. Centricus has built a world class business, and we look forward to partnering with them on growing our respective businesses.”

About Centricus 

Founded in 2016, Centricus is a global investment firm focused on advisory, private equity and asset management. Centricus oversees over $42bn of assets across financial services, technology, infrastructure and consumer, media, entertainment and sports (CMES). The firm works in partnership with its management teams and strategic advisers to deliver superior absolute returns. For more information on Centricus, please visit www.centricus.com.

Centricus Media Enquiries:
FGS Global – James Leviton
+44 20 7251 3801
[email protected] 

About Consello

Consello is an Advisory and Investing Platform.

Consello’s six distinct advisory practices provide the complete strategic counsel today’s leaders need to grow and transform their organizations. Consello’s advisory expertise spans M&A; Growth; Marketing; Technology; and Sports, Entertainment and Leadership Development. Dedicated teams operate in each practice, led by a leadership group with deep operational experience across industries, business growth stages and market cycles and with an expansive set of global corporate relationships.

Consello’s investment business, Consello Capital, identifies high-potential mid-market companies and invests capital and expertise to transform their growth.

Consello Media Inquiries:
Mark Mulhern, CMO, The Consello Group
[email protected] 

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Digital Remittance Market Rising at 13.5% CAGR to Hit $83.2 Billion by 2034 | Fact.MR Analysis

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Outward Digital Remittance Services to Drive Major Revenue Generation for Companies

ROCKVILLE, Md., May 22, 2024 /PRNewswire/ — According to a recently updated industry report published by Fact.MR, the global Digital Remittance Market will hit $23.4 billion in 2024 and surpass $83.2 billion by 2034, growing at a CAGR of 13.5% from 2024 to 2034.

The ever-increasing use of smartphones and other electronic devices for international payments and remittance services will boost the global market growth over the next 10 years. Quick, easy, and safe transfer of funds is increasing the popularity of digital remittance services.

For More Insights into the Market, Request a Sample of this Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=7104

The advanced remittance platforms are offering their users a secure and fast transaction experience.  The conventional way of transferring funds is time-consuming and expensive, while digital remittance platforms are comparatively inexpensive, faster, and offer value-added services. The growing increasing competition among market players is leading to low costs associated with money transfer.

International remittances are aiding in revenue generation at a maximum level. The immigration of individuals in search of jobs, the surge in international business activities, and the trend of getting an education from overseas are contributing to the growing adoption of digital remittance solutions for fund transfer. The immigrant people make use of outward digital remittance services to transfer money to their families. The rising number of customers of international banks and financial institutions is further increasing the use of outward digital remittance services.

Key Takeaways from the Market Study:

  • Global demand for digital remittance services is forecasted to reach a market value of US$ 83.2 billion by 2034.
  • The United States market is set to register a CAGR of 13.3% through 2034.
  • Japan is expected to capture 28.9% of the East Asia market share in 2024.
  • Revenue from outward digital remittance services has been evaluated at US$ 12.9 billion in 2024.

“Integration of artificial intelligence and machine learning will enhance the capabilities and increase the adoption of digital remittance solutions in the years ahead”, says a Fact.MR analyst.

Winning Strategy:

The global digital remittance market is offering lucrative opportunities for both prominent service providers and new companies. The established players are adopting strategies such as collaborations, mergers, partnerships, and acquisitions to increase their product offerings and market reach. New companies are investing in the production of digital remittance solutions integrated with the latest technologies. This move is aiding start-ups to earn high profits and attract early adopters.

  • The UAE-based fintech start-up Go F5 offers a mobile application to perform financial transactions. The company uses blockchain technology for secure and quick fund transfers. The app F5 offers services for both individuals and businesses.

Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=7104

U.S. and South Korea: Key Players and Growing Markets in Digital Remittance Services

The United States hosts prominent financial service and communication companies such as Continental Exchange Solutions, Inc., Western Union Holdings, Inc., and MoneyGram. Many individuals migrate to the U.S. for better education, job opportunities, and business prospects.

The increasing number of immigrants in the country is expected to create significant growth opportunities for digital remittance service providers. Additionally, the trend toward faster money transfers is driving high demand for advanced payment applications.

South Korea: Rapidly Growing Digital Remittance Market in East Asia

South Korea is emerging as the fastest-growing market in the East Asia region. Many South Koreans use digital remittance platforms to transfer funds annually to colleagues, business partners, and family members abroad. The increasing adoption of online banking and financial services in South Korea is expected to propel the demand for digital remittance services. The growing focus on mobile banking, cashless payments, and mobile-based payment solutions is also contributing to the growth of the digital remittance market in South Korea.

More Valuable Insights on Offer:

Fact.MR, in its new offering, presents an unbiased analysis of the global digital remittance market, presenting historical demand data (2019 to 2023) and forecast statistics for the period (2024 to 2034). Download a Sample Report

The study divulges essential insights on the market based on type (inward, outward), channel (banks, money transfer operators, online platforms), and end use (migrant labor workforce, personal, small businesses, others), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).

Check out More Related Studies Published by Fact.MR Research:

Real-Time Payment Market is forecasted to reach $447.7 billion by 2034

Mobile Payment Market Expected to Reach a Whopping $590 Billion by 2032

Recurring Payments Market to Reach a Whopping $268.7 Billion by 2033

AI and Automation in Banking Market to Grow at an impressive CAGR of 22.8% through 2032

Digital Transaction Management Market Set to Reach $93.25 Billion by 2032

About Us:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.

With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape. 

Contact:

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Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Website: https://www.factmr.com/
Sales Team: [email protected]
Follow Us: LinkedIn | Twitter | Blog

 

View original content:https://www.prnewswire.co.uk/news-releases/digital-remittance-market-rising-at-13-5-cagr-to-hit-83-2-billion-by-2034–factmr-analysis-302153098.html

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Fintech startup Copper forced to discontinue banking services amid Synapse fiasco

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A segment of customers holding deposits with fintech startup Copper find themselves unable to access their accounts, a consequence of disruptions involving the embattled banking-as-a-service platform Synapse.

Copper joins several companies impacted by an ongoing crisis at Synapse, which declared bankruptcy last month. Acting as a “middleware provider” connecting fintech startups with banks, Synapse was poised for acquisition by TabaPay; however, TechCrunch reported the deal fell through earlier this month.

Forbes also noted customers of Yotta Technologies and Juno Finance experiencing similar issues accessing their deposit accounts.

Founded four years ago, Copper initially introduced a banking platform aimed at teens and families. In 2022, the company secured $29 million in funding, boasting over 800,000 users and earning a finalist spot for Startup of the Year at the GeekWire Awards.

Copper CEO Eddie Behringer informed GeekWire on Tuesday of the company’s plans to transition away from banking services, focusing instead on its newer “Earn” product, which assists users in earning money through surveys and games.

However, this plan accelerated earlier this month. In a message to customers on May 12, Behringer announced the discontinuation of debit card and deposit account offerings within 24 hours.

Behringer cited the recent discovery that the banking middleware provider Copper utilizes is sunsetting their service imminently, which necessitated the premature closure of banking accounts despite prior planning.

Over the past weekend, Copper notified some customers of delays in fund delivery via email.

Behringer assured that the disruption impacted only a small number of individuals.

Despite transitioning away from banking services, Behringer emphasized Copper’s commitment to its original mission of providing financial wellness and education.

“Moving forward, we’re going to continue to focus on providing not just teens and families, but all Americans the ability to earn money through Copper,” he stated.

Copper’s revenue has surged by 160% year-over-year, largely driven by the success of its “Earn” product.

The company intends to establish white-label partnerships with banks to generate software-as-a-service revenue.

Behringer and Copper co-founder Stefan Berglund previously co-founded Snap Raise, an online fundraising platform for youth groups based in Seattle.

With 30 employees and ongoing hiring efforts, Copper has secured a total funding of $42 million to date. Investors include Fiat Ventures, Panoramic Ventures, Insight Partners, Invesco Private Capital, PSL Ventures, Mana Ventures, Western Technology Investment, Clocktower Ventures, Index Ventures, Scout Fund, Launchpad Capital, Financial Venture Studio, Maven Ventures, Samsung Next, and Arnold Ventures.

Source: geekwire.com

The post Fintech startup Copper forced to discontinue banking services amid Synapse fiasco appeared first on HIPTHER Alerts.

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FWD Group pens five-year agreement with AWS to drive innovation

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FWD Group, a prominent insurance provider, has unveiled a five-year agreement for technology services with Amazon Web Services (AWS) as part of its cloud-first strategy.

This collaboration aims to bolster FWD Group’s digital infrastructure and capabilities by harnessing AWS’ expertise in cloud and AI technologies to drive innovation and customer-centricity.

AWS will continue to host core business applications for FWD Group, offering enhanced agility, scalability, and resilience as FWD transitions away from operating its own onsite data centers.

Committed to delivering innovative insurance solutions, FWD Group has embraced a digital-first mindset, prioritizing cloud computing as a comprehensive business strategy, seamlessly integrating cloud-based infrastructure and capabilities across its business functions.

With its array of cloud services, encompassing computing power, storage, and AI technologies, AWS underscores its dedication to supporting companies in the financial and insurance sectors to drive digital transformation and elevate customer experiences.

Sandeep Pandey, Group Chief Technology & Operations Officer of FWD Group, affirmed, “At FWD, cloud computing is not just a priority for the technology function but a holistic business strategy. This digital-first mindset has enabled us to establish operational infrastructure and capabilities that are secure, cloud-based, and fully integrated across business functions and with valued partners like AWS. With these foundations in place, we can further scale our generative artificial intelligence (AI) deployment efficiently, effectively, and responsibly, aligning with our vision of transforming perceptions about insurance.”

The adoption of cloud technology has yielded significant benefits to FWD’s software development and deployment processes, resulting in accelerated time-to-market and enhanced customer experiences.

By the conclusion of 2023, an impressive 97% of FWD Group’s applications had completed migration to the cloud, marking a substantial increase from the 27% recorded as of December 31, 2020.

Additionally, 93% of the applications earmarked for retirement have been successfully decommissioned, underscoring the company’s commitment to modernizing its technology infrastructure and optimizing operational efficiency.

Francessca Vasquez, Vice President of Professional Services and Generative Artificial Intelligence Innovation Center at AWS, commented, “AWS has been supporting companies in the financial and insurance sectors worldwide for over a decade, enabling them to better serve their customers with cloud and AI technologies. FWD Group’s ambition to leverage the power of cloud and generative AI underscores their dedication to digital transformation and customer-centricity. We are thrilled to continue supporting FWD Group with AWS’s proven reliability and capabilities, facilitating innovation acceleration, cost savings, efficiency enhancement, and business expansion.”

Source: fintech.global

 

The post FWD Group pens five-year agreement with AWS to drive innovation appeared first on HIPTHER Alerts.

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