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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.
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.
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.
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.”