Tag: Fintech

santander-achieve-“an-incredible-70%-average-improvement-of-kpis”,-say-aite-novarica-in-their-independent-case-study-of-the-santander’s-cash-nexus-global-payments-platform,-fuelled-by-intellect-global-transaction-banking-(igtb)

Santander achieve “an incredible 70% average improvement of KPIs”, say Aité-Novarica in their independent case study of the Santander’s Cash Nexus Global Payments platform, fuelled by Intellect Global Transaction Banking (iGTB)

September 23, 2021 Published by

 

Intellect Global Transaction Banking (iGTB), the transaction banking specialist from Intellect Design Arena Limited, ranked #1 in the world for Transaction Banking by IBS Intelligence, is honoured to have played a part in this remarkable transformation, recognised by Aité-Novarica, the leading independent financial services insights and advisory firm. Their Payments Case Study report “Implementing a Market Leading Global Payments Platform,” by highly respected analyst Erika Baumann, Research Director, Commercial Banking and Payments Practice, and published today, shows how Santander, one of the largest banks in Europe and the 16th largest banking institution in the world, “created a market-leading global payments platform that did not previously exist in the market.”

Implementation of this platform led to an enviable 70% average improvement of key performance indicators around client implementation time, transaction processing, and connectivity.

As a global financial institution with footprints and clients in multiple geographies, Santander faced many challenges in providing a consistent payment or service experience across regions to its corporate clients, including navigating the local payments network and regulatory mandates for 15 countries on 3 continents.

Santander launched Cash Nexus, partnering with iGTB and using its Payments Service Hub, a channel for corporate collection and payment transactions in various countries, using international standard formats such as ISO20022. It is a single payments platform for all global regions that provides Santander’s clients global visibility into accounts from this single platform, available through multiple channels, from which they can initiate and track all incoming and outgoing payments. It also provides agility to Santander in on-boarding new customers – while reducing time to market. As a result of this successful initiative, Santander was not only able to create a differentiated and superior client experience for its corporate clients, but create impressive, quantified results:

  • reduce average client implementation time by about 70%
  • increase transaction performance capabilities by an impressive 75%, and
  • become self-sufficient in implementing new countries in 65% less time.

The platform provides Santander clients with a unified payment experience with robust payment capabilities to access local schemes for domestic and cross border transactional needs and helped Santander to bring future-forward functionality and roadmap – including access to instant payments, real time liquidity, API-based models and cloud based models – to the market.

The case study also highlights how iGTB’s market expertise and knowledge of the core markets Santander operates in (including Europe, the US and Latin America, specifically Brazil and Argentina that have complex regulatory environments and financial cultures) made it the vendor of choice for Santander in its transformation journey.  If further calls out how the deep partnership and synergy between the two made these results possible, and shifted Santander’s position in the market to a true global payments leader.

José Luis Calderón, Head of Global Transaction Banking, Santander, commented, “Recognizing that changing the payment platform is changing the heart of the bank, the partnership between Santander and Intellect has allowed Santander to bring the heartbeat and finish line of the future into today’s reality.”

Christine Barry, Head of Banking and Payments Insights at Aité-Novarica, says, “The partnership between Santander and Intellect Global Transaction Banking has created a market-leading global payments platform that did not previously exist. With the implementation of this new platform, Santander was able to transform its earlier limitations, arising of its unique structure of local subsidiaries operating as independent financial institutions catering to local payment networks and regulations, into a clear market advantage, maintaining the local payment capabilities and relationships while creating a unified, single global payments platform. From a market perspective, the innovations reached through this partnership have created a new path for financial institutions to adopt a similar approach to streamline global operations, increase payments performance, penetrate local payment networks, and reduce client implementation timelines.”

Carlos Denche, Global IT Head for Global Transaction Banking, Santander, added, “Comparing the capabilities of new system with old one, the new system is much more flexible for operations to configure and operate, providing greater opportunity to run services in a way that accommodates how payments are evolving, readiness of further API connectivity, development of new payment tools, and more aggressive KPIs.”

Manish Maakan, CEO of iGTB, commented “What Santander has achieved is very impressive – to provide such a strong and consistent global customer service with rapid customer responses and catering to so many different country regimes. I am committed to corporate bank transformation and so I am delighted that iGTB played its part in the bank’s success from this single, global installation.  This independent report adds another success story to validate our claim that the world’s best corporate banks bank on iGTB.”

cyber-insurtech-boxx-insurance-announces-usd-$10m-series-a-round-to-further-accelerate-growth,-prepare-for-international-expansion

Cyber insurtech BOXX Insurance announces USD $10M Series A round to further accelerate growth, prepare for international expansion

September 22, 2021 Published by

 

BOXX, the leading cyber insurance provider for small businesses, individuals and families, announced today that it has closed its oversubscribed USD $10 million (CAD $12.7 million) Series A-round in a bid to accelerate growth and expand its footprint internationally. The new investors are Cyber Mentor Fund (CMF), Zurich Insurance Group (Zurich) and SixThirty Ventures.

“In a world impacted by major technological and societal disruptions, the expectations around cyber and privacy protection have never been more important,” says Vishal Kundi, CEO of BOXX, which he co-founded with Mike Senechal.

BOXX Insurance Inc. was launched in 2018 and now has a strong trading presence in Canada and in selected markets in Europe and Latin America. BOXX’s innovative approach has been recognized across the world including being selected for the industry’s leading innovation program: Lloyd of London’s Lab and the Monetary Authority of Singapore’s prestigious program for fast growing fintechs.

“Our model has been proven to help clients identify and stop attacks and should an incident occur, minimize the trauma and damage that typically ensues,” says Kundi. “We want to continue to make it easier for customers to be smarter and more resilient to cyber threats”.

The Series A funding will help BOXX expand the team to support the increasing growth in demand from brokers, partners and clients and prepare for international expansion, Kundi adds.

BOXX also announced a global partnership with Zurich.  Says Jack Howell, CEO of Zurich Global Ventures:  “BOXX‘s prevention-led approach convinced us that they are building a winning business with the potential to actively shape cyber insurance for small to mid-sized businesses and consumers. They are an exciting business and passionate about making cyber security simple for customers by integrating tools and technology with insurance. The combination of their knowledge and Zurich’s global reach and international expertise is a win-win situation for Zurich customers and BOXX.”

“A massive opportunity exists to help companies and consumers reduce their growing digital risk exposure and we believe BOXX will play a role given their deep roots in the insurance industry and prevention-led approach,” says Tim Eades, General Partner, CMF. “We couldn’t be more excited about the relationship between Zurich and BOXX, and are thrilled to be investing at a time in the BOXX journey when they are seeing unrivaled traction and staking a claim as a dominant force in the industry.”

“The BOXX team is committed to protecting businesses and consumers and reducing their cyber risk, which is paramount in today’s digitized world,” said Atul Kamra, Managing Partner at global venture firm SixThirty Ventures. “BOXX‘s digital health tracker and cyber training platform allows consumers and businesses to improve their cyber hygiene practices, significantly reducing the chances of a breach from occurring in the first place.”

allied-payment-network’s-jeffrey-harper-named-president-of-association-for-financial-technology

Allied Payment Network’s Jeffrey Harper Named President of Association for Financial Technology

September 22, 2021 Published by

 

Allied Payment Network (Allied), the industry’s most progressive provider of online and mobile digital payment services to community financial institutions (FIs), announced today that its Chief Revenue Officer Jeffrey Harper has been named president of the Association for Financial Technology (AFT), a national association devoted to the advancement of fintech companies and the U.S. financial industry through technology. The volunteer board of directors, which is made up of peer-elected industry executives, elected Harper to the position and installed him yesterday at the group’s Fall Summit in Sonoma, California. Harper, a 30-year fintech executive and business development leader, previously served for three years on the AFT board of directors, most recently as Program Chair.

The Association for Financial Technology is the industry’s premier resource for networking and professional development for those companies and executives serving U.S. FIs, including banks, credit unions, lenders and payment companies. Founded in 1972, the organization’s members represent virtually every area of technology, data or services needed to help FIs succeed in today’s dynamic marketplace.

Harper’s appointment as AFT President marks the second Allied representative to serve in that position, following Allied President Kelli Schultz, who served as board director from 2009 to 2014 and President in 2013. “AFT is the single most impactful organization driving the financial technology sector for FIs nationally. Gathering the brightest C-level minds in the space to collaborate on the challenges and opportunities our clients face drives real, tangible change in our industry,” said Schultz. “I’m delighted to see Jeff’s passion and dedication to community banking awarded with this prestigious honor.”

“Being a member of AFT and serving on the board has been the most rewarding and enjoyable experience in my professional career. I am humbled and honored to be selected by my peers as AFT President as the association celebrates its 50th anniversary in 2022,” remarked Harper.

wamo-has-integrated-apple-pay,-and-will-make-contactless-transactions-easier-and-faster

wamo has integrated Apple Pay, and will make contactless transactions easier and faster

September 21, 2021 Published by

 

Fintech startup wamo has integrated Apple Pay into its mobile app to expedite its customers’ capability to perform contactless transactions.

From now on, all customers, including small and medium-sized businesses, will be able to use Apple’s payments technology to receive payments.

The corporation, which is incorporated in the UK, is already operating vigorously in European countries and especially in Malta, thus maturing as a new pioneer in the digital banking market in the region.

As the company’s CEO, Yanki Onen, describes, “It is part of our purpose to develop unique functionalities and facilitate the financial lives of customers and micro-businesses in a way that is speedy, timely, reliable, and secure.”

As of summer 2020, Apple’s payments service had more than 220 million users, 85 percent outside the United States. These are consumers who move $10 billion a year in financial transactions.

In Malta, where the company has an important part of its operations, Apple Pay was only launched at the end of 2019. However, during the coronavirus pandemic and the subsequent health emergency situation, digital banking soared significantly.

wamo’s technology, which natively uses QR codes to accept payments, allows small companies to operate without having to have a POS device.

Business can rely on a QR code, which permits its clients to execute transfers and card payments in a second.

wamo is a digital native fintech targeting small and medium-sized businesses, is incorporated in the UK, and has offices in London and Malta.

With technology and innovation at its gist, the corporation strives to compete with traditional financial methods in delivering financial services.

The fintech institution uses innovative technology to streamline all aspects of day-to-day financial management processes, enabling both businesses and consumers to do it all from a single app.

This year, wamo raised a €1 million investment from a group of angel investors, bringing the total amount raised to more than €1.9 million and securing funding for its expansion plan in Europe.

wamo has partnered with Railsbank to improve the security of transactions and secure customers’ money. PayrNet, a wholly-owned subsidiary of Railsbank, issues electronic money and provides payment services to wamo.

The company has received backing from investors in the UK, Malta, Turkey and Canada.

Registered in the UK and EEA, it is working to become the solution of choice for over 10,000 European SME and retail customers seeking convenient and cost-effective solutions for their day-to-day financial management needs.

With a potential market of 25.1 million small businesses in Europe, wamo is looking to become the first choice in the post-pandemic era of fintech.

PayrNet Limited grants e-money issuing and payment services. With each transaction, PayrNet holds a sum equivalent to the money in wamo’s current accounts in a safeguarded account, which offers customers protection against insolvency.

wamo, as a financial technology company, has been actively adjusting for this  transformation for the past four years with a technical solution that has been finely crafted to step in and take SMEs and their customers forward effortlessly.

To join wamo as a client, click on the link www.wamo.io

Read wamo’s post on the integration of Apple Pay: https://wamo.io/en/newscenter/wamo-apple-pay

ideanomics-to-give-keynote-presentation-at-2021-move-america

Ideanomics to Give Keynote Presentation at 2021 MOVE America

September 21, 2021 Published by

 

Ideanomics (NASDAQ: IDEX) today announced its participation and display at MOVE America, a showcase event for urban mobility discussions and solutions, being held September 28-30, in Austin, Texas at the Palmer Events Center.

WAVE CEO Aaron Gillmore will give a keynote presentation on the topic of overcoming fleet electrification barriers with wireless charging for the Bus Transportation theater on September 28 at 10:40am CT.

At 1:00pm CT that same day, Gillmore and Kate Lam, Ideanomics’ Managing Director of Financial Products, will lead a roundtable discussion on fleet electrification challenges, to discuss how WAVE’s high-power wireless charging and Ideanomics’ vertically integrated EV solutions are removing critical adoption barriers in mass transit, like range extension, total cost of ownership reduction and infrastructure scalability.

WAVE CTO Michael Masquelier is participating in a Truck Tech Panel “Technological developments improving safety, efficiency and sustainability in trucking” on September 28 at 2:55pm CT.

  • WAVE, wireless charging provider enabling commercial fleet operators with a faster, easier way to extend the range of medium- and heavy-duty electric vehicles with systems ranging from 125kW to 500kW, and a 1MW charger in development. Across the U.S., from Washington to Florida, mass transit agencies use WAVE technology for their revenue service buses, many for more than five years. Ports use the technology for cargo handling, while commercial warehouse and distribution companies use the inductive charging technology to charge their freight distribution vehicles.
  • Energica is the first Italian manufacturer and global distributor of high-performance supersport electric motorcycles and is the sole manufacturer for the FIM Enel MotoE™ World Cup. Each Energica electric motorcycle is unique in its class for their technical solutions and innovations, making them the ultimate expression of Italian luxury. Energica announced this week their plans to more than double their footprint in the United States by the end of 2021, supported by their partnership with Ideanomics Mobility and Capital divisions.

“MOVE is an opportunity for Ideanomics and our operating companies like Energica and WAVE to talk more about the things we are doing in the fleet electrification space that matter,” said Alf Poor, CEO of Ideanomics. “Our recently announced acquisition of VIA will help us in creating a complete solution around infrastructure, vehicle and financing, and the expansion of the Energic dealership footprint involves a program that we can use for both VIA and our Solectrac electric tractors. WAVE’s inductive charging solution not only works today for transit, ports and commercial applications but also enables the autonomous revolution when it arrives. It’s exciting to see how these will all work together in a more sustainable ecosystem.”

pipe-launches-industry’s-leading-trading-platform-for-recurring-revenue-in-the-uk-and-adds-two-tech-veterans-to-leadership-team

Pipe Launches Industry’s Leading Trading Platform for Recurring Revenue in the UK and Adds Two Tech Veterans to Leadership Team

September 21, 2021 Published by

 

Pipe, creators of the world’s first trading platform for recurring revenues, today announced a global expansion with the launch of its first international market in the UK. To support the expansion and further accelerate growth, Pipe also announced that it has hired two heavy-hitting tech veterans from B2B and fintech leaders HubSpot and Stripe.

2021 has been a breakout year for Pipe, raising $300 million of equity financing in the last year from investors including Shopify, Slack, Okta, HubSpot, Next47, Marc Benioff’s TIME Ventures, Alexis Ohanian’s Seven Seven Six, Chamath Palihapitiya, MaC Ventures, Fin VC, Greenspring Associates, Counterpoint Global (Morgan Stanley) and more.

In the first nine months of the year, Pipe’s trading platform has seen rapid adoption from U.S.-based companies with recurring revenue streams looking to fund their growth without debt or dilution. Over 8,000 companies have signed up on the Pipe trading platform with over 50% of the trading volume coming from non-SaaS vertical markets including direct-to-consumer (D2C) subscription, property management, streaming services and service-based businesses such as gyms and pest control.

The launch of the Pipe trading platform in the UK is a logical extension of the company’s business and a significant opportunity for any UK-based company looking to grow without taking on restrictive debt or dilution. US and UK customers have similar needs when it comes to Pipe’s product offerings, which made the UK a natural second market for Pipe to grow into.

“I left the UK for the United States seven years ago as it provided the best funding environment to build my first technology company, and it is enormously gratifying to bring those same opportunities to the burgeoning ecosystem of technology companies in the UK,” said Harry Hurst, co-founder and co-CEO of Pipe. “If Pipe existed a decade ago and offered company friendly financing options, I might never have left the UK.”

There is already a tremendous amount of interest in Pipe among UK-based companies, with a number of these companies already trading revenue on the Pipe platform today.

“Portify shares Pipe’s vision of using breakthrough fintech approaches to offer a clear achievable path to better financial standing,” said Sho Alexander Sugihara, co-founder and CEO, Portify, a London-based company that provides a simple way to build your credit score through a single membership fee. “The Pipe platform provides Portify with the access to dilution-free financing that we require to maintain our growth and rapid pace of innovation, and it will be an integral part of our strategy in the future.”

Pipe’s remote-first culture has allowed the company to build a dynamic team of talent from around the world. With its launch into the UK market, Pipe has added two senior tech veterans to help drive the company’s growth and international launch.

Brad Coffey has joined as Pipe’s Chief Customer Officer, where he will be responsible for driving continued growth and expansion of verticals beyond Pipe’s initial launch market of SaaS. Brad was previously the Chief Strategy Officer at HubSpot, where he led the company’s long-term strategy on products, packaging and pricing, and oversaw its partnerships, ventures, and corporate development teams. Brad was one of HubSpot’s first employees, and in his 13 years with the company, HubSpot grew from a startup to a publicly traded company with $1 billion in annual recurring revenue. Brad met Pipe when he led HubSpot’s investment into the company in March’s $50 million strategic funding round.

“Pipe has a rare opportunity to fundamentally change the way companies fund their growth, and to help shape the fintech market,” said Coffey. “In my 13 years at HubSpot, I had the opportunity to help take the company from startup to market leader by connecting  innovation, product delivery and customer value. I am excited to bring this experience to Pipe to help extend the value it provides in funding the ideas and innovations of founders all over the world.”

Pipe has also added Sid Orlando, now former Editor-in-Chief of fintech leader Stripe, and before that, Manager of Curation and Content at Kickstarter. With her unmatched experience developing content strategies, Sid will play a pivotal role at Pipe heading up content and building one of the world’s largest repositories of entrepreneur and founder focused content and dramatically increasing global awareness on the impact of alternative finance.

“Pipe has already become a compelling brand in fintech in little over a year since its launch,” said Orlando. “I’m inspired by the possibilities Pipe offers founders, and looking forward to working with the Pipe team to further educate the market – from early-stage startups to public companies – on how to scale without unnecessary dilution or restrictive debt.”

pchome-online,-eyeing-fintech-and-bnpl-opportunities,-announces-nt$1-billion-private-placement-to-introduce-china-development-financial-(2883tw)-and-chunghwa-telecom-(2412.tw)-as-strategic-investors

PChome Online, Eyeing Fintech and BNPL Opportunities, Announces NT$1 billion Private Placement to Introduce China Development Financial (2883.TW) and Chunghwa Telecom (2412.TW) as Strategic Investors

September 20, 2021 Published by

 

PChome Online Inc. (8044.TW) today (Sep. 17th, 2021) is pleased to announce a strategic partnership with China Development Financial (“CDF”), Chunghwa Telecom (“CHT”) and the founders of 21st Century Digital Technology Co., Ltd (“21CD”). The strategic investors will jointly subscribe PChome’s NT$1 billion private placement, representing 9,376,463 common shares of the company, or 7.35% of the enlarged share base. The private placement is priced at NT$106.65 per share.

The strategic partnership, together with the industry leaders from the financial and telecom industries, reinforces our mission statement to build an “everyday reliable” product and service portfolio to fulfill the consumers’ demands. It’s also a major step forward for PChome to work together with strategic partners to multiply the impact of “PChome ecosystem”.

To strengthen the cooperation and unlock potential synergies, PChome will subsequently acquire a controlling stake (~50%) in 21CD by 1) investing NT$2.16 billion in cash to obtain the shares from its founders and 2) exchanging PChome’s shareholding in its Fintech subsidiary Pi Mobile Technology (“Pi”) for 21CD’s new shares, based on an exchange ratio that 1 common share of Pi can be exchanged for 0.29795959 new common share issued by 21CD.

As an investment portfolio company of CDF’s venture capital arm, 21CD is one of the fastest growing BNPL platforms in Taiwan. Its BNPL service was also launched at PChome B2C platform in the first quarter of 2021. With PChome ecosystem’s rich traffic and data flow from day-to-day transactions across buyers and sellers, we believe the new partnership, including the combination of 21CD and Pi, can significantly speed up PChome’s fintech business roadmap and its path to profitability, by leveraging our partners’ financial product knowhow, credit data system, experienced management team, and capital support.

one-of-hong-kong’s-most-illustrious-business-names-establishes-a-uk-based-charity,-inspired-to-better-the-lives-of-those-hong-kong-citizens-starting-a-new-life-in-britain

One of Hong Kong’s most illustrious business names establishes a UK based charity, inspired to better the lives of those Hong Kong citizens starting a new life in Britain

September 20, 2021 Published by

 

One of the most distinguished names in Hong Kong, esteemed entrepreneur and philanthropist, Mr William Je, has embarked upon a quest to help many of those 5.4 million eligible Hong Kong citizens seeking to relocate and set up residency in the UK.

Aptly named ‘The Hong Kong People Association’ the initiative is bountifully formed in the name of the people, for the people. As a UK resident, William understands first-hand the apprehensions and barriers in setting up a new life overseas.

William has acquired over 30 years of experience in corporate restructuring; M&A; IPO privatisation; private equity and hedge fund investments across mainland China, Hong Kong, and Taiwan before establishing himself as the founder and CEO of a global fund management company with multi-billion-dollar assets under management. Prior to establishing the fund management business, William was formerly the Chairman of Equity Capital Markets for Macquarie Banking Group where he managed its Greater China capital markets and principal investment activities for over 10 years.

CEO for Hamilton Investment Management Ltd., William says: “The British government estimates that approximately 5.4 million Hong Kong residents will be eligible to apply for a special visa to reside in UK. This is the result of a new system introduced on 31 January 2021, under which Hong Kong British National (Overseas) (“BNO”) citizens and their close family members can apply to live, work and study in the UK for five years. After five years of residency, they will be eligible to apply for permanent residency and a further additional year in the UK will see them eligible to apply for British citizenship.” 

“This sounds like a dream to many of my fellow Hongkongers, worried about the future for their families, and at a loss as to how to physically relocate to the UK where they face uncertainty and confusion over everything from employment, education, housing, and healthcare.”

“Hongkongers are undoubtedly some of the most skilled, conscientious and industrious people in the world. For those who choose to leave behind the uncertainty associated with the territory, the UK conserves an unrivalled Rule of Law.”

“As a cosmopolitan hub, the UK’s international reputation can be attributed in essence to its freedoms – freedom of speech; movement; association; assembly and religious beliefs as well as its freedom from arbitrary arrest. The objective of the Hong Kong People Association is to create a large support network of Hongkongers who can share experiences, information and guidance whilst retaining the core values and culture of Hong Kong.”

William has himself left Hong Kong and is now permanently based in London. Having graduated from the University of Wales and Manchester Business School (U.K.) with a Master of Business Administration, William is a fellow member of the Chartered Association of Certified Accountants as well as the Hong Kong Institute of Chartered Accountants.

William’s current enterprise, Hamilton Investment Management Ltd. is a value-oriented investment management firm serving world-renowned institutional investors who invest in a broad spectrum of portfolios including private equity investments in licensed banks and financial institution, Fintech, social media projects and multi-strategy algorithmic trading funds.

William’s experience in finance is comprehensive, having served for several investment banks, including as the Head of Greater China at Credit Agricole Indosuez (“CAI”) and a Board member of CAI’s securities arm Indosuez W.I. Carr Securities; Director and Head of Business Development at Dresdner Kleinwort Wasserstein and as Vice President for NatWest Markets.

Recognised by transnational industry leaders as a prominent investment professional, William has also been awarded an honorary citizenship of Washington, U.S.A. for his contribution to the Sino-US relationship. William was the Chairman of the Hong Kong Youth Association – the largest youth charity association in Hong Kong. He also founded the Youth Innovation and Development Alliance to advocate innovation and career development for young people within that region. Driven to support his fellow citizens to the best of his ability, William’s vast knowledge, experience, resources, and undeniable empathic nature make him a key individual in leading The Hong Kong People Association initiative.

An inaugural event for the association will be held in September 2021 in Ealing, West London, and the charity’s formal launch will be followed closely thereafter in October 2021.

ideanomics-to-fuel-growth-of-energica-motor-company’s-electric-motorcycle-dealer-network-in-us.

Ideanomics to Fuel Growth of Energica Motor Company’s Electric Motorcycle Dealer Network in U.S.

September 20, 2021 Published by

 

Ideanomics (NASDAQ: IDEX) (“Ideanomics” or the “Company”), today announced they will leverage their uniquely synergistic Capital and Mobility divisions to further support partner Energica Motor Company S.p.A. and its subsidiaries (Energica). Energica is a leading manufacturer and distributor of ultra-high-performance electric motorcycles. In response to increasing consumer and dealer interest, the two Ideanomics divisions will team up to rollout a new Dealer Floor Plan financing arrangement with the goal of more than doubling Energica dealers in the United States by the end of 2021, targeting markets that have demonstrated a propensity for early electric vehicle adoption.

The news follows Wednesday’s September 15th announcement that Ideanomics has launched a tender offer to increase its ownership stake in Energica from 20% to approximately 70% after Energica nearly doubled their sales in 2020, followed by strong performance in the first half of 2021. This success has fueled a rapid expansion in the European market as well as Asia, the Middle East, and Africa. The addition of more authorized Energica dealers and other retail points in the U.S. will help drive consumer brand awareness and increase market share for the most advanced zero-emission motorcycles on the market.

“American consumers are ingrained in the dealer culture and they have to be able to see, touch, feel, and ride these beautiful machines to make a purchase decision. We are proud to enable a much more prominent and accessible dealer footprint for Energica and expect this to be a critical step to scale and grow our revenue in 2022 and beyond,” said Kristen Helsel, Chief Revenue Officer of Ideanomics. “More importantly, this dealer financing marks the first of many activities where we will leverage the strength of Ideanomics Capital to drive EV sales growth on the Mobility side of the business.”

“Without question, it is the exhilarating acceleration and seamless power that riders experience on a test ride, that finally converts them from a conventional internal combustion bike to one of our electric motorcycles. Now that we can expand our dealer network we will be able to offer this experience to more U.S. riders than ever, furthering our goal to help transform the motorcycle business for years to come,” said Stefano Benatti, U.S. CEO of Energica Motor Company S.p.A. “The vision that Ideanomics has for Energica and their ability to help propel our growth has provided a unique opportunity to quickly scale our product throughout the U.S. and serve as a template for future dealer expansion.  This is the first of many steps we hope to take as Ideanomics and Energica partner together.”

the-cambodian-association-of-finance-and-technology-(caft)-and-the-american-chamber-of-commerce-in-cambodia-(amcham-cambodia)-memorandum-of-understanding

The Cambodian Association of Finance and Technology (CAFT) and the American Chamber of Commerce in Cambodia (AmCham Cambodia) Memorandum of Understanding

September 20, 2021 Published by

 

The Cambodian Association of Finance and Technology (CAFT), an association registered with the Ministry of Interior and recognized by the National Bank of Cambodia (NBC), and AmCham Cambodia, an association which advocates pro-business policies that help businesses create jobs and grow the economy, have entered into a Memorandum of Understanding (MOU) to support the Cambodian Fintech sector and start-ups in the industry, to promote financial inclusion and social responsibility through the industry, and to raise awareness through entrepreneurship oriented events and efforts. The two associations have agreed tangible actions including reciprocal membership and event discounts, serving as industry partners for the Fintech and Startup communities, joint promotion of events and activities, and cooperation on the upcoming CAFT’s CamTech Summit in cooperation with World Fintech Festival by Singapore Fintech Festival, National Bank of Cambodia, Association of Banks in Cambodia and Cambodian Microfinance Association.

Remi Pell, Board Chairman of CAFT commented, “the United States is representative of some of the largest and leading technology companies in the world and the intent is to tap into AmCham’s expertise and leverage their membership in achieving our goals.”

AmCham President Anthony Galliano commented, “AmCham remains committed to work with the public and private sector in the promotion and support of business and commerce in the Kingdom.  This is a great opportunity for the Chamber to elevate the Fintech sector and raise awareness of the commercial tech successes in the Kingdom, and at the same time leverage the expertise of the world’s leading technology companies, who are part of our membership, for the good of the country.”

Event was witnessed by board and executive members of both CAFT as well as AmCham.

The signing of the MOU by Remi Pell, Chairman of the Board and Anthony Galliano, President of AmCham was on September 16th at Backyard Cafe.

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