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FINFIT LIFE CELEBRATES COMPANY GROWTH AND ANNOUNCES PLANS FOR THE YEAR AHEAD
Many companies and industries are still in recovery mode due to the ongoing COVID-19 pandemic. However, insurance startup FinFit Life, a network of independent contractors who promote ‘financial fitness’ as a pillar of health and wellness, celebrates its growth. Since its launch in December 2019, just months ahead of the world shutting down, the financial technology company has grown to over 400 licensed professionals, making them one of the fastest growing companies in the fintech insurance distribution space.
CLIMATE FINANCE ACCESS NETWORK ANNOUNCES 8 PACIFIC COUNTRIES RECEIVING DEDICATED CLIMATE FINANCE ADVISORS
The Climate Finance Access Network (CFAN), coordinated by RMI and supported by regional and global partners, has announced the first eight countries to receive dedicated advisors for climate finance. Fiji, Kiribati, Papua New Guinea, Samoa, the Solomon Islands, Tonga, Tuvalu and Vanuatu will receive advisors specifically trained and placed to unlock critical climate finance in developing countries.
Last week’s release of the Intergovernmental Panel on Climate Change Sixth Assessment Report (AR6) clearly sounded the alarm on the climate crisis. Climate change is hammering populations globally, and impacts such as rising temperatures, storm surges, and sea-level rise (which AR6 confirms is now locked in) have been felt acutely across the developing countries in the Global South. This is particularly true of coastal regions and Small Island Developing States (SIDS), where some of the world’s most vulnerable populations live. AR6 emphasizes what the Global South has been saying for years: Responding to this crisis is a global imperative, and there’s little time to spare.
INNOVATIVE DIGITAL FINANCE SOLUTIONS OFFER BUSINESSES GREATER CONTROL
The fintech industry, digital banking, and digital payments markets have all been rapidly expanding over the last decade. Yet, the pandemic has helped accelerate the move to digital payments and other digital finance services with a sense of urgency not seen before across the B2B landscape, and the same is true for the online retail sector. In fact, research by McKinsey & Company indicates that “overall, in retail, the impact was not a decline but a shift in buying behavior. In the first six months of the year, consumers spent USD 347 Billion online with U.S. retailers, up 30% from the same period in 2019 — corresponding to six times the annualized 2019 growth rate of online retail.” As for banks, the pandemic has accelerated the move from “physical” to “virtual” banking.
KBRA Expands Corporate, Project and Infrastructure Finance Group
Kroll Bond Rating Agency (KBRA) is pleased to announce an important step in the continued growth of our Corporate and Project Finance businesses. We have formed new sector teams and appointed sector leaders to focus on the intersection of infrastructure, energy, renewables and the rapid expansion of middle market lending.
“These new sector focused teams will help us meet the accelerating demand for KBRA’s thought leadership in these dynamic segments of the market,” said William Cox, Senior Managing Director and Global Head of all Corporate, Financial and Government Ratings.
CONCIERGE TECHNOLOGIES TO EXPAND FINANCIAL SERVICES OFFERINGS TO THE U.K.
via NewMediaWire — Concierge Technologies, Inc. (OTC: CNCG), a diversified global holding firm, today announced that its newly formed subsidiary in London, England, Marygold & Co. (UK) Limited, has entered into a share purchase agreement to acquire all the outstanding shares of Tiger Financial & Asset Management Limited for £1.5 million (approximately $2.1 million U.S.), plus liquid assets, to be paid in cash over a two-year period following the closing date.
RIGHT DIRECTION FINANCIAL SERVICES CHOOSES SCIENAPTIC TO ENHANCE UNDERWRITING WITH AI-POWERED CREDIT DECISIONING
Scienaptic, a leading, global AI-powered credit decision platform provider, announced Right Direction Financial Services has selected its AI-powered platform. This deployment will allow Right Direction Financial Services to enhance its underwriting capabilities to reach and support more potential borrowers, while mitigating risk.
Founded in 2011, Right Direction Financial Services specializes in providing automotive loan financing for individuals seeking to rebuild or establish their credit through high-quality, certified pre-owned vehicles. The company is committed to ensuring its customers have affordable payments that align with their payroll periods and reporting their payment history to the major credit reporting agencies. This implementation positions Right Direction Financial Services to reach more borrowers to grow its business while offering faster, stronger AI-powered credit decisioning for its loan decisioning process.
FINTECH PLATFORM FUSE AUTOTECH RAISES $10M IN SERIES A FUNDING LED BY TARGET GLOBAL
FUSE Autotech, a fintech software platform that redefines the car buying process, today announced the completion of its $10 million Series A round of financing, led by Target Global with participation from PICO Venture Partners, Christopher Muhr, former COO of Auto1 (FSE: AG1), and Escavel Capital. This new round of funding will be used to expand FUSE’s product and R&D teams.
“We are excited to complete this round together with leading auto industry software experts whose significant experience adds enormous value as we scale our company,” said Colton Ray, FUSE Autotech’s CEO. “The investment will allow us to expedite development and focus on expansion.”
VARICENT ACQUIRES CONCERT FINANCE
Varicent, the industry-leading provider of incentive compensation and sales performance management solutions, has acquired Concert Finance (Concert), an innovative provider of commissions software designed by compensation experts. The move to acquire Concert Finance first started in May when Concert was looking to scale its rapid growth, and Varicent was looking to expand its Incentive Compensation Management (ICM) portfolio into the SMB market. The deal closed on July 9, 2021.