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Private Client Resources (PCR) Announces Partnership with GRMA to Revolutionize Data Aggregation and Reporting for Investment Management

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Private Client Resources (PCR), the leading provider of total wealth data aggregation services to Ultra High Net Worth (UHNW) families, trust companies, private banks, and investment advisors, today announced a partnership with GRMA, the leading provider of SaaS-based and outsourced reporting to major asset management firms and endowments, foundations, pensions, family offices, fund administrators, and FinTech firms. This collaborative offering will combine PCR’s total wealth aggregation capabilities with GRMA’s unique SaaS-based technology and extensive experience producing comprehensive investment and risk management reporting for all types of liquid and illiquid investments.  Together, PCR and GRMA will provide data capture and outsourced reporting service for multi-asset class portfolios, providing a complete picture of portfolio exposures and investment risks (including market, credit and liquidity risk) and delivering full performance attribution and benchmarking for equities, fixed income, hedge funds, private equity, real estate, and real asset investments.

Automating the consolidation of information from the complex holdings of UHNW investors has long been a challenge for institutions, family offices and their advisors.  With 50% of UHNW holdings often in hard-to-aggregate illiquid investments, the systems that account for and analyze portfolios often rely on manual, error-prone processes.  This partnership will ensure that clients have one-hundred percent confidence in their data and reports across all investment strategies and products.

“We are excited to be partnering with GRMA to offer their clients a complete aggregation and normalization solution that delivers pure and actionable data from every asset class and instrument type directly into their management platform,” said Robert Miller, CEO of PCR. “We believe GRMA has a differentiated approach of delivering a holistic data-driven experience that helps managers and investors significantly improve visibility of their investments and risks within their portfolios.”

“We are thrilled about working with PCR,” said Samuel Won, Founder and Managing Director of GRMA.  “Many firms and institutions today are struggling with aggregating disparate investment data and producing comprehensive and meaningful reporting and analysis for their holdings, performance attribution and risk management for their entire investment portfolio of liquid and illiquid investments.   We are excited about closing this significant gap that exists in the marketplace by collaborating to roll out this compelling offering.”

Bob Miller adds, “The vertically integrated ability of PCR and GRMA represents one of the more innovative solutions to facilitate data exchange between liquid asset and illiquid private market programs and investors.”

 

SOURCE Private Client Resources

Blackhawk Network CEO and President Talbott Roche Honored with Women in Payments’ Advocate for Women Award

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Talbott Roche, CEO and president of global branded payments provider Blackhawk Network, has been named the recipient of the Women in Payments’ Advocate for Women Award. Conferred to payments and fintech leaders who champion the career advancement of women in the industry, the award was presented to Roche during a February 10 ceremony at the Ritz Carlton in McLean, Virginia.

“Our awards program has served to showcase the exceptional work of payment leaders, innovators, and rising stars since 2013,” said Kristy Duncan, founder and CEO of Women in Payments. “We are incredibly pleased to present this year’s Advocate for Women Award to Talbott. She has demonstrated outstanding leadership in advocating for the advancement of women in payments and beyond and we congratulate her on this achievement.”

With Roche’s encouragement and support, Blackhawk has sponsored a number of industry organizations devoted to nurturing female leadership, including Women in Payments and the Women’s Network of Electronic Transactions. Blackhawk was also a founding sponsor of Women in Payments’ Global Mentorship Program, which pairs mentors and mentees in the payments industry to foster professional development around the globe.

Additionally, Roche has volunteered her time to presenting at industry events about the importance of advocating for women in business and has also served as an executive sponsor and source of support to many of Blackhawk’s female senior management and staff members.

“Championing female leadership is something I’m passionate about and ensure is a priority at Blackhawk,” said Roche. “Real change needs to be supported from the top of an organization in terms of recruiting, developing, retaining and promoting talented female leaders. Despite fintech traditionally being a male-dominated industry—especially for leadership roles—I am proud that nearly 50% of Blackhawk’s leadership positions are held by women. I thank Women in Payments for this honor as well as the work the organization does to support women in the industry.”

Roche was one of seven payments and fintech industry leaders honored at the Women in Payments award ceremony across several award categories. Attended by hundreds of industry veterans, the ceremony spotlighted the achievements of women who have distinguished themselves as leaders, innovators, rising stars and consummate professionals. Winners were selected by an awards committee comprised of senior women with diverse payments system expertise who are committed to championing female talent across the payments ecosystem.

 

SOURCE Blackhawk Network

Klarna Acquires the Italian `Buy Now, Pay Later’ Startup Moneymour

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Klarna, one of the world’s leading smooth shopping and payment providers, today announced an agreement to acquire Moneymour, an Italian payment company, from the founders and minority investors. Through the acquisition Klarna gains access to intellectual property to further improve underwriting capabilities, and additional expertise and competence, as the full Moneymour team will join Klarna. This acquisition also marks the first step in launching Klarna’s latest product development hub in Milan.

Moneymour was founded in 2017 and is an Italian payment method that allows consumers to `buy now, pay later’ by splitting their purchases into monthly instalments based on an instant credit assessment. The Moneymour credit scoring engine is powered by PSD2, as it uses balance and transaction data in the credit scoring algorithm. The technology ensures an ever faster and automated credit decision for consumers as only a few clicks are necessary, rather than lengthy and paperwork heavy manual processes. Klarna believes this technology is key especially when underwriting credit to millenials. Going forward, the Moneymour competence and technology could be used across Klarna’s markets, creating an even better and smoother shopping experience for consumers.

“We’re impressed with what the Moneymour team has achieved so far, and we are also happy to now progress the establishment of our new product development hub in Milan. The talented team has developed an interesting offering for the Italian market, and with their knowledge and expertise we can further strengthen our underwriting capabilities in the market. Under the Klarna umbrella, we will together further develop the proposition and scale this across markets, which will support in accelerating growth,” says Koen Köppen, CTO at Klarna.

Klarna is now powering over 200,000 retailers globally including Luxottica, Calzedonia, Alitalia, H&M, ASOS, Peloton, Abercrombie & Fitch and Samsung. During 2020, Klarna will continue its growth momentum on current markets as well as enter new markets, where Australia is the most recent example. Establishing a new product development hub in Milan will support the growth efforts on the fast growing Italian ecommerce market.

 

SOURCE Klarna Bank AB (publ)

Aiera Raises $7M to Further Event Intelligence and Insights Platform

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NEW YORK, NY , Feb. 12, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE – Aiera is announcing that it has raised $7 million through the sale of its Series A Preferred Stock to investors led by Fin Venture Capital and including Macquarie Group, Citi Markets FinTech Investments, and Franklin Templeton.An event intelligence and insights platform founded by former Internet equity research analyst, Ken Sena (CEO), and Amazon Alexa engineering lead, Bryan Healey (CTO), Aiera began as a collaboration on how natural language processing could improve investment workflow. Aiera now covers over 30K live events per year, including earnings calls, analyst days, management conferences, and more, tying these events to millions of documents it is simultaneously processing and analyzing, and offering users the ability to set intelligent monitors to track what matters to them most.“Aiera is emerging as the center of the desktop and mobile for the asset management community,” says Logan Allin, General Partner and Founder at Fin Venture Capital. Logan Allin has joined Chip Hazard, General Partner of Flybridge, as a board director in connection with the Series A transactions. Diane Schumaker-Krieg, formerly Global Head of Research, Economics & Strategy for Wells Fargo, will be joining as an independent director. Additionally, Joe Boerio, Senior Vice President & Chief Technology Officer of Franklin Templeton, Miki Edelman, Head of Strategic Client Solutions for Macquarie Group, and Gavin Skinner, COO of Citi Research will participate in a board observer capacity.“I am excited to be joining the Aiera Board at this pivotal time in the evolution of investment research,“ said Diane Schumaker-Krieg. “Aiera’s ML-enabled tools allow analysts and portfolio managers to consume huge amounts of relevant data, from events and filings to news and research, with greater efficiency in a post-MiFID ll world. I believe that Ken, Bryan and their team have the vision, skill, and discipline to take Aiera’s platform capabilities to the next level.“The Aiera platform currently covers nearly 7K global equities and processes and analyzes approximately 100K pieces of research, media, and new document types each day. Last year, in partnership with Gridspace, Aiera expanded to live events, including earnings calls, analyst days, management conferences, and more.In commenting on the fundraising, Ken Sena (CEO) said, “Aiera is doing more every day to help its users manage the communication between issuers and investors, and we look forward to continuing to improve our event and streaming experience with more domain-specific transcription capability, deeper document and source discovery, advanced tool customization, and greater language availability.”Aiera was seeded by Flybridge Capital and, with this additional funding, has now raised more than $10 million to further its quest to be the leading event intelligence and insights platform for the investment community.About AieraAiera is an event intelligence and insights platform that leverages adaptive deep learning to enhance active fundamental investment strategies. Using advanced linguistics and predictive modeling, Aiera offers investment managers and other professionals the ability to automatically and proactively monitor all public earnings calls and events in real-time, as well as across broker research, media, SEC filings, meeting notes, and more. For individuals looking to schedule a demo, please contact us at www.aiera.com.About Fin Venture CapitalFin Venture Capital is headed by Founder/Managing General Partner, Logan Allin, and includes six team members based in Silicon Valley. Fin is focused on early stage (Seed/A entry points) B2B, principally Enterprise SaaS FinTech companies within six sub-sectors: Alternative Lending, Asset Management, Real Estate Tech, InsureTech, Blockchain Enterprise Applications, and Enabling Tech. Fin principally focuses on the US, but is active in Europe, Israel, and Southeast Asia. As former corporate and start-up operators, the Fin team takes a hands-on approach, helping its portfolio companies with access to capital (equity/debt), talent sourcing, and business development support. Fin is building a Global Financial Platform that will provide its investors with unique fund strategies and co-investment opportunities alongside the fund and in Special Situation Growth/Late stage companies. The Fin team currently has 14 portfolio companies and was named the 2nd most active FinTech VC in 2018 by BTIG.AttachmentAieraJon Teall
212-317-8296
jteall@teallassociates.com

AGM Group Holdings Inc. Signs Non-binding MOU with Beijing Hieason Technology Co., Ltd. to Establish Strategic Cooperation in Smart Commercial Advertising Screens

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AGM Group Holdings Inc. (“AGM Holdings” or the “Company”) (NASDAQ: AGMH), a software company focusing on fintech software, trading education software, website service and accounting and ERP software, today announced that its indirectly wholly owned subsidiary, Beijing AnGaoMeng Technology Service Co., Ltd. (“AGM Beijing”), has entered into a Non-binding Memorandum of Understanding (the “Non-binding MOU”) with Beijing Hieason Technology Co., Ltd. (“Beijing Hieason”) to establish strategic cooperation in smart commercial advertising screens. Through strategic cooperation, the parties strive to become a leading smart commercial advertising service agency in China within three years.

Established on May 30, 2014, Beijing Hieason is a high-tech enterprise. Its main technologies and business products include research and development of artificial intelligence computing visual recognition technology algorithm, optical field imaging technology, AR / VR, and 5G data application. Its products are widely applied in various governments and industries.

Pursuant to the Memorandum of Understanding, Beijing Hieason agrees to transfer its intellectual property rights and intangible assets in connection with the smart screens to “Anxun Union”, a new or existing company to be designated by both parties. AGM Beijing agrees to acquire the equity interest of Anxun Union by cash and by causing AGM Holdings to issue its Class A ordinary shares.

The Non-binding MOU does not create an obligation on the part of either party to consummate any transaction. The proposed transaction is subject to a definitive agreement to be negotiated between the two parties, conditioned upon further financial and legal due diligence and approval of the Company’s Board of Directors, as well as other customary closing conditions. There is no assurance that any transaction will be concluded.

 

SOURCE AGM Group Holdings Inc.

Sunline Partners with Sabah Credit Corporation (SCC) to Drive Smart Sabah Initiative

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The Smart Sabah Initiative has kicked off its first phase – Sabah Pay, after State Government has given Sabah Credit Corporation (SCC) the mandate to set up the State e-wallet September last year. Running on Sunline’s Digital Banking Technology, the initiative will ultimately enable the State to support a powerful smart finance platform.

The underlying foundation of Sabah Pay is inclusion and diversity, designed and developed for all walks of life, including the unbanked. The main feature of the first phase of Sabah Pay is the centralization of cash collection for Sabah State Government, enhancing the State’s services delivery system via waste reduction, conveniences and improved efficiency. In the coming phases of Sabah Pay, digital lifestyle services like eKYC, virtual account, virtual financing, smart loan, multiple payment channels, e-parking, e-ticketing and more will be available.

As stated by CEO of SCC, George Taitim Tulas, “The key to a real Smart City is to enable services efficiency and ultimately improve the life of the citizens. Therefore, Sabah Pay is not only an e-wallet that allow cashless payments, but also the first step towards providing seamless financial services.”

CEO of Sunline Overseas Business, Matthew Chen also stated, “Sunline is honored to partner with SCC in the Smart Sabah Initiative. We believe our experience as well as continuously efforts and commitment in offering the most innovative technology advancements will help make Smart Finance for Sabah a reality.”

In the digital era, users are expecting seamless financial services available anytime, everywhere. The growing competitions from Fintechs and an increasing array of new regulations are also driving traditional financial institutions to transform, in order to stay ahead in the competition.

Sunline, pioneering innovations with the first JAVA based Core Banking System and Digital Banking System in China since 2002, has the largest installed base for both Core and Digital Banking System in the country. Sunline’s Digital Banking Solution empowers financial institutions transform the way they do business, allowing them to build a comprehensive digital ecosystem and remain top performing in the digital era.

In line with Malaysia Government’s Economic Transformation Program and Bank Negara Malaysia’s (BNM) vision of cashless society and virtual banking, Sabah State is taking the first step in initiating Smart Finance and Sunline is proud to play a major role in this initiative.

 

SOURCE Sunline

Finserv MARKETS Wins Best Lending Tech Award at 10th India Digital Awards

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Finserv MARKETS has won the Best Lending Tech award in the Payment and Fintech Awards category at the 10th India Digital Awards at the India Digital Summit, 2020. As a young entrant in the Fintech arena with aspirations to be India’s best financial services marketplace, this recognition has provided glowing validation to their vision.

The award is also a testament to their laser-sharp focus on providing customer delight through their digital platform and decade’s worth of commitment to provide Indians with quick and safe access to credit. Techno-analytics driven, Finserv MARKETS is truly a customer-first lending technology platform.

Continuous platform innovation has led to best-in-class user experience, data-driven personalized offers, and an expanding product suite – and the company is thrilled that the market have taken note.

If one is wondering what goes into their secret sauce of success, they are ready to reveal it all.

Cover (almost) all needs

For people who want some quick money for their fairytale wedding or their solo European backpacking trip, Finserv MARKETS’ has the perfect instant Personal Loan for them.

Want to build a dream home or transfer the balance on existing home loan, the platform offers a complete suite of Home Loan products tailored to meet requirements.

Business Loan products also ensure that dreams and ideas of building the next unicorn are fulfilled.

Suffice to say, the company provide loans for all needs, big or small. No wonder then that they have gone one step further by introducing a Pocket Personal Loan to satisfy one’s needs for quick cash.

Pride in transparent & quick processes 

Easy application and documentation, fast online processes and the absence of any hidden charges ensure that applications get approved in mere minutes and money is disbursed within 24 hours. One doesn’t need much more to win the trust and business of customers across India, and the results are there for all to see.

So, the next time one needs a loan, they know where to go. Finserv MARKETS’ may already have some attractive pre-approved loan offers with your name on it. Check out Finserv MARKETS website or app [Playstore | AppStore] if you don’t want to miss out.

 

SOURCE Finserv MARKETS

Klarna Launches Global `Consumer Council’

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Klarna, the leading global payments and shopping provider, is proud to announce the launch of its `Consumer Council’. The global initiative sees Klarna invite consumers to a meet-up and share their thoughts on different themes related to their experiences using Klarna. The meet-ups will take place in all main markets, three times per year.

This is yet another step demonstrating Klarna’s commitment to get even closer to consumers and to understand what it takes to fulfill Klarna’s mission to provide the smoothest and smartest experience when shopping and paying.

“At Klarna, we have an amazingly engaged consumer community, which we speak and listen to daily to understand their experiences first hand. We’re interested in the good parts, but more importantly we’re interested in the areas where we clearly have room for improvement. We’re always looking for new ways to support and build Klarna with our community and to solve consumer pain points we may not have thought of ourselves. Gathering direct feedback is extremely important to us and a vital part in meeting consumers needs and ultimately, to provide the best end-to-end shopping experience”, Sebastian Siemiatkowski, co-founder and CEO of Klarna.

It has become increasingly evident over the past few years that the way consumers shop, spend and save is evolving rapidly and that technology has revolutionised how consumers approach their finances. At Klarna, everything revolves around the consumer and how to provide unparallelled services that allow them to benefit from increased control and joy – everyday. However, as a digital company it can sometimes be hard to regularly meet consumers face-to-face, especially with rapid expansion into new markets. Klarna’s `Consumer Council’ will play a key role in facilitating that important conversation and ensure that Klarna is even more responsive to consumer’s evolving needs and developing services to solve them.

“With the launch of the `Consumer Council’, we are taking  our direct consumer dialogues to a new level, enabling them to advise us, and truly placing them at the heart of everything we do. We are extremely proud of the number of consumers that choose Klarna everyday, and with this initiative we want to make sure that they can be equally proud of using our services”, continues Sebastian Siemiatkowski.

The first `Consumer Council’ meet-ups will take place in London on March 10 and Stockholm on March 16, followed by Manchester, Berlin, and New York during the spring. Each meet-up will have a specific theme tailored to the local market, with the objective to involve consumers across the spectrum in Klarna’s mission to become the world’s smooothest shopping experience.

After the meet-ups, all findings and experiences shared will be summarized in a report. The report will ensure all feedback is properly taken into account when designing, and developing new and existing products and services. Progress on development goals will be made available on local Klarna blogs, where each region will provide regular status updates.

 

SOURCE Klarna Bank AB (publ)

Dome, NSCI Hosted National Conference on e-Governance 2020

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Dome, NSCI, the iconic venue and host to some of the grandest and most important events in the country, added to their repertoire by hosting National Conference on e-Governance 2020 on 7th and 8th February 2020. The prestigious occasion was inaugurated by Shri Aditya Thackeray, Hon’ble Minister for Environment and Tourism & Protocol, Govt. of Maharashtra along with Shri Shubhash Desai, Hon’ble Minister for Industries and Mining, Marathi Language, Govt. of Maharashtra. The valedictory note was given by Shri Satej D Patil, Hon’ble Minister for Home (Urban), Housing, Transport, Information Technology, Parliamentary Affairs, Ex- Servicemen Welfare, Govt. of Maharashtra and Dr Jitendra Singh, Hon’ble Union Minister of State Personnel, Public Grievances & Pensions, Govt. of India.

The Department of Administrative Reforms and Public Grievances (DARPG) along with Ministry of Electronics and Information Technology (MeitY), Government of India, in association with one of the State/UT Government organizes the National Conference on e-Governance every year since 1997. The theme for this year was Digital Transformation and focused on Digital Economy, BlockChain for Effective Governance and Service Delivery, AI and Machine Learning, Digital Payment and Fintech, Skilling and Capacity Building amongst a variety of other topics. Also, as the official mascot for Dome, present at the event was DOPO to add some fun to the otherwise serious conference.

Speaking on hosting the conference, Mazhar Nadiadwala, Managing Director, Dome Entertainment said, “It was our pleasure to host an event of such stature. We thank the Department of Administrative Reforms and Public Grievances (DARPG) and Ministry of Electronics and Information Technology (MeitY) for having faith in us not just as venue partners but also in conceptualizing and executing the conference. With our state of the art facilities, we think Dome was the perfect fit to host such an event.”

 

SOURCE Dome Entertainment

FDIC Approval Moves Varo to Final Stage of Bank Charter Journey

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Mobile banking company Varo Money, Inc. today announced a significant step in its application process for a national bank charter, with approval from the Federal Deposit Insurance Corporation (FDIC) for deposit insurance. The Office of the Comptroller of the Currency first awarded Varo preliminary approval in September 2018. Now with FDIC insurance, Varo moves the charter process to the next and final step of the approval process. Varo’s progress with its charter application underscores a bigger shift in the banking industry toward technology-driven experiences as well as a renewed regulatory commitment toward financial inclusion.

“Receiving an official bank charter has been part of Varo’s vision from the very beginning, and we are excited to progress through the necessary steps to accomplishing that goal,” said Colin Walsh, CEO of Varo Money. “Despite historic economic growth, only 29% of Americans are considered financially healthy. Varo is committed to creating inclusive financial opportunities that deliver measurable benefits to all consumers. Becoming a fully chartered bank will give us greater opportunity to deliver products and services that positively impact the lives of everyday people around the country.”

Since launching in July 2017, Varo has become a highly rated mobile banking brand with a mission to expand financial inclusion and help people stretch their money with bank accounts that have no minimum balance requirement or monthly account fees. Varo customers can get paid up to two days early with direct deposit*, and the company’s No Fee Overdraft feature allows qualified customers to overdraw their bank account up to $50** with no fees if they are running short before the next payday. Additionally, Varo offers fee-free ATM withdrawals with its network of more than 55,000 Allpoint® ATMs worldwide.

Varo also delivers easier ways to save, with one of the highest Annual Percentage Yields (APYs) on the market and its Save Your Change program, which automatically rounds up purchases to the nearest dollar and deposits that money directly into a personal savings account.

“We should not underestimate how significant this is for the banking industry as it’s the first time a mobile-centric company is poised to be a chartered bank in the United States. Getting through this very high regulatory hurdle now opens the door for Varo to become the biggest mobile-centric national bank,” said Jo Ann Barefoot, CEO of Barefoot Innovation Group and formerly deputy comptroller of the OCC. “It also opens the door to enabling tens of millions of Americans who have been underserved to gain access to affordable FDIC-insured banking, which will build financial health and security for individuals and communities.”

Varo Bank is on track to obtain its final national bank charter pending completion of organizational requirements and meeting the conditions of both the OCC’s and FDIC’s Federal Reserve membership. Upon full charter approval, Varo plans to expand to additional types of services including credit cards, loans, and additional savings products.

 

SOURCE Varo Money, Inc.

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