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MASTERCARD AND CITI EXPAND PARTNERSHIP TO FURTHER FINANCIAL INCLUSION AND SUSTAINABILITY EFFORTSMASTERCARD AND CITI EXPAND PARTNERSHIP TO FURTHER FINANCIAL INCLUSION AND SUSTAINABILITY EFFORTS
Mastercard and Citi today announced a new partnership to support local residents and small businesses through greater public-private sector collaboration. Through City Possible, Mastercard’s partnership and co-creation framework for cities, the two global leaders will bring their collective resources, expertise, and integrated urban development frameworks to the City Possible network.
The partnership will initially grant City Possible network members access to “Citi Start Saving” and “City Builder by Citi” through the Mastercard City Insights Digital Marketplace. The Citi Start Saving program allows U.S. municipal and nonprofit organizations to expand access to financial services and advance economic progress in underserved and low-income communities. City Builder by Citi is a free, data-driven platform that aggregates information about community investment opportunities and includes information on 16,000+ U.S. cities, 73,000 census tracts, 485 community development projects, and 180 funds and community development entities. The new tools will provide City Possible members the ability to assess the impact of a climate or economic event to support policy and program development. The partnership will also explore ways to help city leaders develop more efficient procurement processes as well as identify avenues to support an inclusive recovery through joint disbursement solutions.
WEFI SELECTS OPENTEXT EMAIL2EDI SOLUTION TO LAUNCH INNOVATIVE FINANCIAL TECHNOLOGY PLATFORM, IZZI
OpenText™ , today announced that WeFi Technology Group LLC (WeFi), a financial technology company providing supply chain finance solutions to the IT industry, has selected OpenText Email2EDI to help process thousands of transactions on WeFi’s new advanced technology platform, ‘IZZI’.
WeFi has created a digital platform called ‘IZZI’ to strengthen its financing solutions through efficient transaction processing, enhanced data security and privacy, as well as data analytics and reporting. In need of a solution to exchange business documents from non-EDI vendors within the new platform, WeFi selected OpenText Email2EDI to automatically convert documents received via email into structured EDI data for internal applications.
BNY MELLON UTILIZES BLOCKCHAIN TO DIGITIZE WORKING CAPITAL IN GLOBAL TRADE FINANCE
BNY Mellon has joined a consortium working to introduce blockchain technology into international trade finance and digitize how working capital is provided to both suppliers and buyers across the globe.
Through its participation in the Marco Polo Network, BNY Mellon is now able to more efficiently insert liquidity into the international supply chain, providing supply chain finance solutions including both payables financing and receivables discounting to suppliers shipping goods and services to their buyers around the world.
K2 INSURANCE SERVICES LAUNCHES ANOTHER INNOVATIVE PRODUCT ON THE DRC INSURANCE PLATFORM
Decision Research Corporation (DRC), an industry-leading provider of cloud-based enterprise solutions for the P&C insurance sector, announced today K2 Insurance Services has successfully deployed their innovative LoadStar Customs Inspection Insurance product on the DRC Insurance Platform. Via the DRC Agent Portal, freight forwarders and Customs Brokers are now able to purchase coverage online, submit claims, and are issued certificates in a single session, with full policy service, billing, and claims enabled for back-office processing.
PNC LAUNCHES AKOYA SOLUTION TO INCREASE THE SECURITY OF CONNECTIONS FOR CONSUMERS TO SAFELY TRANSACT WITH FINANCIAL APPS
PNC Bank and Akoya LLC today announced the bank’s integration with the Akoya Data Access Network. More than nine million PNC customers are now enabled to securely share their financial data with fintechs and data aggregators with enhanced security through the application programming interface (API)-based network.
“PNC takes very seriously our responsibility to protect the financial and account information that our customers entrust to us,” said PNC Chairman, President and CEO William S. Demchak. “Many customers assume it is safe to provide their sensitive information to the financial app of their choice. However, we know this information has been used for unauthorized access to customer accounts. That is why we have been taking interim steps to provide accessibility and security – and with today’s announcement, we are providing a permanent solution for striking the right balance between customer choice and data protection.”
VYMO CEMENTS ITS COMMITMENT IN INDONESIA WITH A ROBUST LOCAL TEAM AND TECHNOLOGIES FOR THE FINANCIAL INDUSTRY
San Francisco headquartered firm Vymo, the sales acceleration platform of choice for top financial institutions across Asia, announced today its commitment in Indonesia with a robust local team and technologies for the financial industry. The firm also announced it has been appointed by AIA Indonesia (PT AIA Financial) to deploy its remote-first sales distribution platform to improve the company’s business profitability. Both these initiatives come at the right time for Vymo as the firm accelerates its growth strategy for Indonesia. Vymo is confident of growing its revenues from Indonesia manifolds in the next 3 to 5 years and as such will be investing in expanding and strengthening its team and partner ecosystem in the country by 10x over the coming years.
FICOMM PARTNERS LAUNCHES NEW AMPLIFI OFFERING FOR FINANCIAL ADVISORS
Financial advisors have a new way to increase their content’s reach and impact with the launch of FiComm Partners’ (“FiComm”) AmpliFi offering. The integrated communications agency specializing in the financial services industry launched its third business offering built specifically for growing advisors who are looking to scale and develop marketing and public relations strategies around their proprietary content.
HUAWEI LAUNCHES THE MOBILE PAYMENT AND MICRO FINANCE SOLUTION, FACILITATING FINANCIAL INCLUSION
Huawei launched a financial inclusion solution featuring mobile payment and micro finance at HUAWEI CONNECT 2021. The solution helps financial institutions provide fast and affordable services, bringing the world a step closer to financial inclusion. Huawei will continue working with ecosystem partners and using new ICTs to advance mobile payment and build a prosperous business ecosystem.
Banks use mobile payment and micro finance solutions, including cloud technology and SaaS, to build tailored business models and a thriving ecosystem on super apps. Huawei’s financial inclusion solution covers mobile wallet, mobile payment platform, super app open framework, and financial product platforms. With these, banks can quickly introduce various financial services.
FIRM CAPITAL MORTGAGE INVESTMENT CORPORATION ANNOUNCES $40 MILLION BOUGHT DEAL FINANCING
Firm Capital Mortgage Investment Corporation is pleased to announce that it has entered into an agreement to sell, on a bought deal basis, to a syndicate of underwriters bookrun by TD Securities Inc., National Bank Financial Inc., and CIBC Capital Markets, $40,000,000 aggregate principal amount of 5.00% convertible unsecured subordinated debentures due March 31, 2029 at a price of $1,000 per Debenture.
CANADIAN FINTECH FIRM LAUNCHES NIGERIAN ARM
Canadian fintech startup and credit assessment company, Periculum, has announced its launch in Nigeria. According to a statement, the company aims to tackle the challenge of domestic credit in underserved markets by automating credit assessment tools to close the consumer credit gap and help financial institutions provide credit facilities to the financially excluded.
SINGAPORE REITS DOUBLE THEIR OVERSEAS INVESTMENT TO US$12.3B
Singapore’s property managers are accelerating their push abroad as a slow reopening and diminishing returns at home force them to look for growth opportunities elsewhere.Foreign acquisitions by real estate investment trusts in the city-state jumped to an all-time high of 61 last year, data compiled by Bloomberg show. The total value of such deals also more than doubled from 2020 to US$12.3 billion.Property managers in Singapore – which boasts the most Reits in Asia outside of Japan – have long shown global ambitions, with overseas investments picking up during the pandemic.
CHETWOOD FINANCIAL LAUNCHES FIRST CREDIT CARD, WAVE
Chetwood Financial today announces the launch of Wave, the digital bank’s first-ever credit card, empowering customers to control their spending and manage their finances over the long term. Designed by customers for customers, the Wave credit card offers flexibility and ease for near-prime consumers who typically have fewer credit options available to them, with less functionality.
COUPA SOTWARE TO OFFER HSBC VIRTUAL CARDS TO EUROPEAN BUSINESSES
Coupa Software (NASDAQ: COUP), a leader in Business Spend Management, today announced a strategic collaboration with HSBC under its Coupa Pay offering. Commencing with virtual cards, the collaboration will provide European companies with access to a fast, seamless, and secure way to manage payments as part of their comprehensive Business Spend Management strategy.
INFOSYS SHARES: BROKERAGES RAISE TARGET PRICE POST Q3 RESULTS
Infosys shares surged over 1% to ₹1,898 apiece on the BSE in Thursday’s opening session after the IT giant raised its revenue forecast as it expects 19.5%-20% revenue growth for the financial year to end-March 2022, compared with a previous 16.5%-17.5% predicted earlier, while retaining its operating margin guidance.
ROBO INU FINANCE AIMS TO CREATE A NEW ERA OF PAYMENT METHODS USING THE FINTECH INDUSTRY
ROBO INU FINANCE aims to create an open ecosystem where anyone, from anywhere, can gain financial freedom by using the Fintech built that is said to change the narratives of the financial service industry.
READY CAPITAL CORPORATION ANNOUNCES PRICING OF ITS UPSIZED PUBLIC OFFERING OF COMMON STOCK
Ready Capital Corporation (NYSE: RC) (“Ready Capital” or the “Company”) today announced that the Company has priced an upsized underwritten public offering of 7,000,000 shares of common stock for total gross proceeds of approximately $108.9 million. In connection with the offering, the Company has granted the underwriters a 30-day option to purchase up to 1,050,000 additional shares of common stock.