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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.
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.
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.
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.