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PERCENT LAUNCHES SYNC PLATFORM FOR SPECIALTY FINANCE COMPANIES, FURTHER REVOLUTIONIZING HOW COMPANIES RAISE DEBT CAPITAL
Percent, the capital markets platform transforming a multi-trillion-dollar lending industry, announces the release of its comprehensive Sync platform to further accelerate the growth of today’s most innovative fintech lenders and financing companies as they continue to disrupt the industry.
After raising $12.5 million in Series A funding this past April in a round co-led by White Star Capital and B Capital Group, the three-year-old capital markets infrastructure provider channeled its efforts into building Sync, a comprehensive, first-of-its-kind software and services suite for specialty finance companies. Sync’s launch translates Percent’s recent successes in helping first-time institutional issuers secure over $284 million in funding, bringing the same unparalleled access and toolset to the entire private credit industry on a revolutionary open platform.
CAPWAY LAUNCHES INCLUSIVE DIGITAL BANK WITH FINANCE-INSPIRED LIFESTYLE PRODUCTS AND SERVICES
CapWay, Inc., a financial technology startup based in Atlanta, has announced the launch of its neobank, the core service in its financial system of inclusive products and services. With a CapWay Money Account and CapWay Visa (virtual and physical) debit card, benefits include the ability to make online transactions, send and receive money, and round-up change per transaction to direct towards “Money Goals.”
Prior to launching, the company had amassed a lengthy waitlist of individuals interested in opening an account, which CapWay onboarded over the summer. Now open to all, consumers can download the CapWay mobile app or visit the website to open a CapWay Money Account; create, save, and collaborate on Money Goals; consume financial content; and enroll in financial programs.
FINASTRA INTRODUCES INSTANT ONBOARDING FOR CLOUD PAYMENTS TECHNOLOGY
As Sibos 2021 opened (virtually) today, Finastra announced new instant onboarding capabilities for its Fusion Payments To Go solution. The move enables banks to access the benefits of Finastra’s SaaS solution at speed and with reduced cost, meaning organizations can bring innovative and tailored payments products to their customers with greater efficiency as demands change.
Oren Marmur, General Manager, Payments at Finastra, said, “We are committed to making payments transformation as easy as possible. This capability offers simple onboarding with a short lead time, so that banks can overcome legacy technology constraints, implement with transparency around timeframes and cost, and bring leading payments products to customers at speed. We’re talking about reducing the process of onboarding to just a few days with go live in a few months, rather than what might have taken some banks a year. Beyond the significantly reduced onboarding and go live timeframes, this will allow smaller banks, for which the cost of complex payments transformation might be prohibitive and the operational processes too complex, to enjoy the benefits of an advanced Payments Hub with modernized capabilities.”
MORTON CAPITAL LAUNCHES A NEW DIGITAL EXPERIENCE THAT RAISES THE BAR ON TRADITIONAL FINANCIAL WEBSITES
Morton Capital, a rising star in the alternative investment and RIA space, launched its highly dynamic new website this week. The vision of the website redevelopment, which began in late 2020, was to create a custom digital experience that reflected the client experience and reinforced the company’s relational approach and mission to “empower better investors.”
From the moment visitors arrive on the site, they are guided through a unique and interactive experience matched to their interests. The user journey has been designed to be educational, visually interactive, and enjoyable. Upon landing on the site, the animated type and life-moments video inspire the visitor to get in the mindset and think about what enjoying life means to them on a personal level. This is immediately followed by the question that sets the tone for the site, “How can we help?” Four main options appear to steer them in the direction that resonates with their interest or needs, whether that is investment advice or simply browsing.
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.
GREATAMERICA ACQUIRES FRANCHISE FINANCING FIRM IRH CAPITAL
GreatAmerica Financial Services, which works closely with MSPs and channel partners, has acquired IRH Capital LLC, a provider of financing to franchises. Financial terms of the deal were not disclosed. This is technology M&A deal number 106 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals for 2022, 2021, and 2020 listed here.
MONESE LAUNCHES NEW CREDIT BUILDER
Monese, the leading pan-European fintech, is expanding its offering with the launch of a new Credit Builder service for its customers in the UK. Having opened a waitlist in 2021, Credit Builder is now available and being used by selected customers in an early access programme ahead of being made generally available to UK customers over the coming months.
HUAWEI PARTNERS WITH CURVE TO BRING CONTACTLESS PAYMENTS TO HUAWEI SMARTPHONES
NFC contactless payment is now widely available on Huawei smartphones, including the Huawei P50 Series. Huawei has partnered with Curve – the financial super app which combines all of your debit, credit and loyalty cards into one, easy-to-use smart card – to launch Curve Pay so Huawei customers can pay by phone through one digital wallet.
LOANS CANADA AND EVEN FINANCIAL ANNOUNCE STRATEGIC PARTNERSHIP TO HELP CANADIAN BORROWERS
Even Financial (“Even”), the category-leading embedded finance marketplace, and LoansCanada.ca (“Loans Canada”), the leading loan comparison site in Canada, have announced a strategic partnership to help Canadian borrowers find optimal loans and credit solutions.”As the online financial services ecosystem continues to grow rapidly in both the US and Canada, the infrastructure for financial services providers to distribute their products digitally remains fractured and a bottleneck to growth,” said Phill Rosen, Founder and CEO of Even Financial. “With this in mind, we’re thrilled to partner with Loans Canada, which plays a critical role in connecting Canadian consumers to the financial products they need.”
CANADIAN DOLLAR FALLS BELOW 1.25
The Canadian dollar continues to push higher and USD/CAD has dropped below the symbolic 1.25 line. The pair is currently trading at 1.2476 and is close to 1.2553, its lowest level since November 10th. US Treasury rates continue to move higher. After punching past 1.80% on Tuesday, a 2-year high, the 10-year rate has climbed to 1.90%. The 10-year rate hasn’t been above the symbolic 2% level since July 2019, but it looks poised to climb above that line shortly.
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.