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REPAY ANNOUNCES STRATEGIC PARTNERSHIP WITH VEEM
Repay Holdings Corporation , a leading provider of vertically integrated payment solutions, today announced it has entered into a commercial partnership agreement with Veem to expand each party’s B2B payment capabilities. With the agreement, REPAY will expand its ability to deliver cross-border payment options, and Veem will broaden its capabilities by leveraging REPAY’s core B2B virtual card and acquiring technology.
In addition to the commercial relationship between REPAY and Veem, REPAY has made a minority equity investment in Veem to provide additional support for Veem’s go-forward growth. The investment was financed with cash on hand and pro forma net leverage is expected to remain at the current level of approximately 2.8x.
NICE ACTIMIZE LAUNCHES CLOUD AND AI-BASED AML TRANSFORMATION FOR LEADING CANADIAN FINTECH KOHO
NICE Actimize, a NICE business, and its cloud and AI-based AML Essentials solutions, has been chosen by the fintech company KOHO Financial, Inc., a Toronto-based provider of online financial services, to support its innovative digital platform and further accelerate its growth in the market. Utilizing NICE Actimize’s AML Essentials, KOHO will also address key guidelines as proposed by The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). KOHO has partnered with Peoples Trust Bank to offer customers a secure no-fee spending account, usable worldwide, featuring instant cashback, to simplify their personal finances.
SNOWFLAKE AND CITI SECURITIES SERVICES RE-IMAGINE DATA FLOWS ACROSS FINANCIAL SERVICES TRANSACTIONS
Snowflake , the Data Cloud company, and Citi (NYSE: C), today announced a strategic initiative to re-imagine how data flows across financial services transactions to provide a frictionless solution for post-trade processes across the industry. Snowflake’s Financial Services Data Cloud helps organizations like Citi accelerate their top-line growth and drive innovation while mitigating risk.
The partnership brings together Snowflake’s powerful secure data sharing and multi-party permissioning capabilities and Citi’s extensive market expertise with the industry-leading proprietary custody network spanning over 60 markets and its top global markets franchise, in Snowflake’s Data Cloud provider-agnostic cloud environment. This collaboration will offer a unique solution to control data models and how end-to-end transaction data flows across a business to meet the diverse requirements of global clients.
DAVIDSON KEMPNER LAUNCHES NEW COMMERCIAL AVIATION FINANCING PLATFORM
Davidson Kempner Capital Management LP (“Davidson Kempner”), an institutional investment management firm, today announced the launch of Ashland Place Finance LLC (“Ashland Place”). Ashland Place is an institutional financing platform offering innovative capital solutions to the global commercial aerospace industry. The business will be led by Jennifer Villa Tennity, a veteran aircraft leasing and banking executive.
Ashland Place will be a wholly-owned subsidiary of Davidson Kempner formed to provide sourcing and loan arrangements in the aviation space. Davidson Kempner has significant experience in commercial aviation industry investments and its new platform expands the firm’s capabilities in the sector.
MASTERCARD LAUNCHES GLOBAL SUSTAINABILITY INNOVATION LAB
Mastercard today announced the launch of its new Sustainability Innovation Lab, which will spearhead the further development of the company’s portfolio of environmentally conscious digital products and solutions. The Lab will focus on ways to empower businesses and consumers to transform how they produce, distribute and purchase products and services, ensuring both people and the planet can thrive as the global economy rapidly digitizes.
CAUSALITY LINK LAUNCHES THIRD GENERATION OF AI-DRIVEN FINANCIAL RESEARCH PLATFORM
The Causality Link platform is an AI-powered system that collects millions of documents globally, in real-time, to identify explicit cause-and-effect statements relating indicators and events, aggregating the knowledge of thousands of authors into a single deductive system. Having processed and analysed more than 100 million texts in 27 languages spanning the past seven years of market activity, the platform provides a global look at the forces acting on the financial markets.
With the new features, the platform now enables precise alerts on specific news derived from its analysis of over 8,000 newspaper sources and government publications. These automated alert queries produce hourly notifications on new content relevant to any KPI of a company, industry, country or portfolio. The queries leverage both the causal graph and signal extracted from texts to define the scope of the analysis and issue precise alerts for each KPI driver. Accessed through the platform’s Data-as-a-Service (DaaS) API, users can also input Bayesian Network (BN) queries to generate BNs around specific KPIs, providing a maximum coherence aggregated thesis. These BNs are used to generate trading signals or compare the thesis extracted from the news to a locally developed one.
NISUN INTERNATIONAL ANNOUNCES STRATEGIC COOPERATION WITH SUNSHINE FINANCIAL TO CREATE “QINGDAO SUNSHINE NISUN SUPPLY CHAIN PLATFORM”
Nisun International Enterprise Development Group Co., Ltd (“Nisun” or the “Company”) (Nasdaq: NISN), a provider of innovative comprehensive solutions through an integration of technology, industry, and finance, today announced that it has entered into a strategic cooperation agreement with Sunshine Chengyang Financial Holding Group (“Sunshine Financial”). Under this agreement, the two parties will enter a cooperation to develop supply chain services targeting the finance industry and build the “Qingdao Sunshine Nisun Supply Chain Platform”.
Under this agreement, Nisun and Sunshine Financial will work together to migrate innovative and market-oriented core resources, including theories, concepts, experiences, practices, technology, and talent, to Qingdao City’s Chengyang District in an effort to accelerate the district’s development. Sunshine Financial is pleased to collaborate with Nisun. Through the favorable business environment of Qingdao’s Chengyang District combined with the parties’ accumulated capital and experience in the field of finance, this strategic partnership will enable the integration of innovation, enterprise, capital and talent, while promoting the high-quality development of the Chengyang District.
TRUMARK FINANCIAL® CREDIT UNION PARTNERS WITH NCR CORPORATION TO SUPPORT DIGITAL TRANSFORMATION
NCR Corporation (NYSE: NCR), a global enterprise technology provider, today announced that $2.7-billion asset TruMark Financial Credit Union has selected NCR to provide a more seamless, consistent digital banking experience to its retail and business members.
The credit union recognized that a strong digital banking partner was a critical piece of its overall digital transformation strategy. With NCR Digital Banking, TruMark Financial will be able to offer an intuitive experience for consumers and businesses alike. Plus, the credit union will be delivering advanced financial wellness tools through the platform, a core focus for the institution.
SHERIDAN CAPITAL AND ELLINGTON FINANCIAL ANNOUNCE STRATEGIC PARTNERSHIP
Sheridan Capital, LLC and Ellington Financial Inc. today jointly announced a strategic partnership whereby EFC made an equity investment in Sheridan Capital, an industry leader in originating commercial real estate bridge loans.
“We believe that cementing our partnership with EFC will allow us to continue to provide unique and creative loan products to the market,” said Aaron Kurlansky, Principal of Sheridan Capital. “In a competitive sector, we differentiate ourselves by streamlining the loan process and providing dependable products for virtually all asset classes and loan sizes.”
ADVANTAGE ONE CREDIT UNION SELECTS SCIENAPTIC’S AI-POWERED CREDIT UNDERWRITING PLATFORM
Leading AI-powered credit decision platform provider, Scienaptic announced today that Advantage One Credit Union has chosen its AI-based underwriting platform to complement its lending process and make advanced loan decisions.
Founded in 1952, Advantage One Credit Union started with serving employees of McLouth Steel Corporation. Over the decades, the credit union has grown, with $208 million in assets and two branches in southeast Michigan that offer a range of financial products and services. These services are spread across digital banking, personal finance, mortgage, auto loans and more. Advantage One prides itself in offering superior financial services than most big banks. The deployment of Scienaptic’s AI-powered loan decisioning platform will further its reach throughout Michigan, providing members with better access to credit by approving more loans, faster.
BMO FINANCIAL GROUP ANNOUNCES EXPANSION OF COMMERCIAL BANKING OPERATIONS IN FLORIDA
BMO Financial Group has expanded its commercial banking operations in Florida, announcing new leaders in South Florida, West Florida and Central/North Florida regions. The Florida commercial banking team will continue to be overseen by Marty McAndrew, BMO’s Managing Director & Florida Market Executive, Commercial Banking.
“We see tremendous opportunity to leverage our industry expertise and local market knowledge to help local business leaders in Florida expand their operations and continue to drive economic growth,” said McAndrew. “We have a very strong, experienced local management team in place, and we look forward to building on our momentum throughout the state.”
INSZONE INSURANCE SERVICES ACQUIRES CABRERA INSURANCE & FINANCIAL SERVICES
Inszone Insurance Services, a rapidly growing national provider of benefits, personal, and commercial lines insurance, announced today the acquisition of Cabrera Insurance & Financial Services, providing the 7th acquisition in the state of Arizona for Inszone.
Cabrera Insurance & Financial Services was founded in 1999 in the Biltmore area of Phoenix, Arizona by Steve Cabrera. Through its 20 plus year run, the team at Cabrera Insurance & Financial Services have worked hard to provide top notch customers to all clients in Phoenix and surrounding areas. As a part of the acquisition, the Cabrera Insurance & Financial Services team will transition to work out of Inszone’s Tempe location.
WAVECREST AND MASSMUTUAL VENTURES UP INVESTMENT IN TIER1 FINANCIAL SOLUTIONS TO ACCELERATE DEVELOPMENT OF INTEGRATED CUSTOMER JOURNEYS
Tier1 Financial Solutions , a leading provider of client relationship management (“CRM”) solutions, AML compliance and fraud prevention solutions, has received new equity financing from a group of investors led by Wavecrest Growth Partners (“Wavecrest”) and MassMutual Ventures. This latest investment in Tier1 will help drive the next generation of connectivity between compliance workflows and the customer experience – enabling Tier1 clients to create integrated, end-to-end journeys efficiently, cost-effectively and reliably for their customers.
REGIONS FINANCIAL CLOSES ON ITS ACQUISITION OF CLEARSIGHT ADVISORS
Regions Financial Corp. , the parent company of Regions Bank, on Tuesday announced it has completed its acquisition of Clearsight Advisors, Inc. The acquisition expands Regions’ mergers-and-acquisitions (M&A) advisory capabilities into the technology industry.
Clearsight will be incorporated into Regions Bank’s Capital Markets division. Over the last decade, Clearsight has built a solid reputation as a comprehensive M&A firm serving business clients in the high-growth global knowledge economy. Clearsight also delivers strategic financial advisory and consulting capabilities. Business sectors served by Clearsight include the technology, professional services, data and information services, and digital and technology-enabled services industries.
BANKFIRST CAPITAL CORPORATION COMPLETES ACQUISITION OF THE CITIZENS BANK OF FAYETTE
BankFirst Capital Corporation, parent of BankFirst Financial Services (the “Bank”), today announced the completion of its acquisition of The Citizens Bank of Fayette, Fayette, Alabama (“Citizens Bank”) from F.B.H. Corporation, an Alabama corporation (“F.B.H.”). The acquisition results in BankFirst having 32 offices serving Mississippi and Alabama, with total assets of approximately $2.0 billion, gross loans of approximately $1.2 billion, and total deposits of approximately $1.8 billion.
FUTURE FINTECH ANNOUNCES NEW BLOCKCHAIN DIVISION
Future FinTech Group Inc. , a leading blockchain-based e-commerce business and a fintech service provider, announced today that the Company has established a new blockchain division that will manage its existing blockchain sector business which will include the further formulation and execution of its strategic growth plan.
Mr. Zhi Yan has been appointed as the president of the new division to direct the Company’s blockchain business. At present, the blockchain division’s primary mission will be to develop, operate and manage the Company’s previously announced bitcoin mining farm plans in the United States and Paraguay, and to coordinate its announced Dubai-based digital currency trading service and crypto asset management business via its FTFT Capital Investments LLC subsidiary. Mr. Yan has extensive experience in blockchain and cryptocurrency. He has been general manager of Cloud Chain Network Technology (Tianjin) Co., Ltd, a wholly owned subsidiary of the Company since February 2020 and served as the Chief Technology Officer of the Company between February 2018 and February 2020. Mr. Yan led the development of the real-name blockchain based e-commerce platform of the Company, Chain Cloud Mall.