Category Archives: PR Newswire

PR Newswire

HotForex Launches CFDs on ETFs and DMA Stocks on its MT5 Platform

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Traders with the award-winning broker HotForex can now diversify their portfolio by trading Contracts for Differences ("CFDs") on hundreds of DMA Stocks & ETFs on the company’s powerful multi-asset platform MT5

PORT LOUIS, Mauritius, Aug. 13, 2020 — HotForex, the internationally acclaimed multi-asset broker on CFDs, has expanded its product range offering with the launching of exchange-traded funds (ETFs) and direct market access (DMA) stocks. The new asset classes come with excellent trading conditions and are exclusive to the company’s MT5 platform.  

HotForex CEO George Koumantaris said: "Every new product we offer is driven by our constant efforts to secure a better trading experience for our clients. With this addition to our list of 1000+ instruments we provide our clients with the opportunity to expand their trading activities and ensure they can access innovative and low cost investment products at all times."

With CFDs on DMA Stocks traders can benefit from direct market live pricing. Unlike CFDs on Stocks, which are not directly hedged in the underlying physical market, a CFD on DMA Stocks means that HotForex will allow you to view and trade with the live order books of global stocks regulated exchanges.

An ETF is a basket of related assets that can be traded on a stock market exchange, just like stocks. A key benefit of an ETF is that allows for portfolio diversification. ETFs are an ideal way of investing in market sectors as a whole rather than in individual stocks. With CFDs on ETFs, HotForex’s investors gain enhanced exposure to a diverse variety of markets with a single trade!

Notes to Media:

About HotForex 

With its origins dating back to 2010, HotForex is the brand name of HF Markets Group which encompasses global and regulated entities which are operating as multi-asset brokers offering both retail and institutional trading services to clients from around the world. HotForex is continuously establishing its position as a market leader, a fact affirmed by:

  • Over 2,000,000 Live Accounts Opened
  • More than 35 International Awards
  • Client Support in 27+ Languages
  • Top Fund Security Measures

To learn more about HotForex, please visit our website here.

Risk warnings:

Trading Leveraged Products such as Forex and Derivatives may not be suitable for all investors as they carry a high degree of risk to your capital.

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Media Contact:
HF Markets Ltd
marketing@hotforex.com
+44-2033185978

 

 

PR Newswire

Ashnik reveals 91% cite that enterprise open source is going to be important for their organization in the coming 12 months

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The enterprise open source survey conducted by Ashnik highlights some key observations in technology adoption patterns across Southeast Asia and India.

SINGAPORE, Aug. 13, 2020 — A recent survey with respondents from across Southeast Asia and India helps understand the expected rise and adoption of open source. The survey focused on the current state of enterprise open source and the impact of Covid-19 on the upcoming technology adoptions and digital initiatives. Conducted by Ashnik, one of the leading open source providers in the region, the report indicates some key insights on open source readiness and implementation.

"While there is an overall shift in the way digitalization is happening, Covid-19 has prompted an even greater need to keep the existing initiatives on track and implement new technology solutions to stay amped up. We designed this survey to understand how enterprise open source is being leveraged by enterprises today and in the coming 12 months. It is interesting to note that many open source led technology initiatives are a top-tier priority for several organizations," adds Deepti Dilip J., Head of Marketing for Southeast Asia and India, Ashnik.

Nearly 83% participants of this survey range from managerial level to C-level, thus throwing some key insights on decision making patterns, in order to speed up and go digital as quickly as possible.

Survey found that about 92% of organizations are already using open source today, with a mix of both enterprise and community open source. According to the respondents, enterprise open source will be majorly adopted in the areas of: Database, Analytics, Security, and IT Infra Monitoring. 68% of respondents cite that container adoption will scaling up in their organizations, while 72% say that multi-cloud deployment will see an increase in the coming months. About 81% of respondents state that open source database will be adopted in their organizations, and 58% say enterprise open source database will be the fastest growing database technology in their infrastructure.

Respondents also rated the various benefits of adopting enterprise open source in the coming months – 60% of which rate the security aspect of enterprise open source as the top benefit for their organization. While, 57% respondents rate the ability to attract new talents as a highly important benefit in adopting enterprise open source. 68% respondents rate cost efficiency as their top benefit in open source adoption.

See the full survey report here: https://www.ashnik.com/enterprise-open-source-survey-2020/

About the Survey:

100 unique organizations across Southeast Asia and India participated in the survey; industries ranging from BFSI, Power and Engineering, Technology, Telecoms, Government sectors and more. The backdrop of this study was to understand the expected rise and adoption of enterprise open source and associated digital initiatives, in the coming months. Covid-19 has transformed the way our new norms are, and businesses are evolving technologically to better serve a diverse tomorrow.

About Ashnik

Ashnik is a Singapore-headquartered leading open source solutions provider, with presence across Southeast Asia, US and India. Ashnik delivers consulting services and solutions based on enterprise-grade open source technologies to tackle critical business challenges. Backed by its strong solutioning and architecting skill sets, Ashnik helps organisations in this region to get innovative, agile and digitally transformed.

PR Newswire

Scienjoy Holding Corporation Signs Agreement to Acquire BeeLive and Expand Its Global Footprint

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BEIJING, Aug. 13, 2020 — Scienjoy Holding Corporation ("Scienjoy", the "Company", or "We") (NASDAQ: SJ), a leading live entertainment mobile streaming platform in China today announced that it has entered into an Equity Acquisition Framework Agreement (the "Agreement") on August 10, 2020, to acquire 100% of the equity interest in Beelive from its two controlling companies at a total consideration of RMB300 million, including a cash consideration of RMB50 million and share consideration of RMB250 million in ordinary shares to be issued by Scienjoy. The share consideration payments are subject to certain performance conditions and requirements over the following three years.  

BeeLive is a global live streaming platform that initially launched in China in November 2016. After establishing a strong foothold in China’s live streaming industry, BeeLive began expanding into international markets during the second half of 2019. To date, BeeLive has launched its Arabic language live streaming product in the Middle East and its Thai language live streaming product in Southeast Asia.

Although BeeLive’s global expansion is still at an early stage, the platform’s activity in overseas markets has demonstrated potential for future growth. As of June 2020, the number of total registered users on BeeLive exceeded 20 million and the number of active live streaming hosts on BeeLive reached 62 thousand. Additionally, during the first half of 2020, BeeLive’s ARPU reached RMB2,200, which was higher than the industry average.

"We are pleased to announce our acquisition of BeeLive and remain confident that this arrangement will serve to provide increasing shareholder value over the long term," commented Mr. Victor He, Chairman and Chief Executive Officer of Scienjoy. "As BeeLive has come to establish itself as a leader in the provision of engaging talent show live streaming content and continued to make exceptional progress in its overseas expansion initiatives, we have gained a tremendous amount of respect for both the business and its platform capabilities. Based on the similarities between our business models, we believe that this deal has the potential to generate powerful synergies and thus significantly bolster our competitive advantages in the industry going forward. After thorough analysis, we maintain our belief that this acquisition is a true win-win arrangement for both parties and will help to provide our users with an increasingly vibrant and interactive social environment going forward."

About Scienjoy Holding Corporation

Founded in 2011, Scienjoy is a leading show live streaming video entertainment social platform in China. With more than 200 million registered users, Scienjoy currently operates three primary online live streaming brands with their respective websites and mobile apps: Showself, Lehai, and Haixiu, each using Scienjoy’s own mobile applications. Through this collection of online live streaming brands, Scienjoy has created a vibrant, interactive, and close community. Scienjoy operates a mobile live streaming business through which it provides live streaming entertainment from professional "broadcasters" to end-users, allowing for the operation of live social video communities. Using Scienjoy’s mobile applications, users can select broadcasters and enter real time video rooms to interact with them. In addition to real-time interactions, users can also view photos posted by broadcasters on their personal pages, leave comments, and engage in private chats with broadcasters when they are not streaming. In addition, users can also play fun and simple games by using virtual currencies within the video rooms while watching the live streaming of a broadcaster.

Safe Harbor Statement

Certain statements made in this release are "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements include, without limitation, Company’s expectations with respect to future performance and anticipated financial impacts of the acquisition, the satisfaction of the closing conditions to the acquisition and the timing of the completion of the acquisition. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside the control of the Company and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the Agreement relating to the acquisition; (2) the inability to complete the acquisition, including due to failure to satisfy conditions to closing in the Agreement; (3) delays in obtaining or the inability to obtain necessary regulatory approvals required to complete the transactions contemplated by the Agreement; (4) the risk that the acquisition disrupts current plans and operations as a result of the announcement and consummation of the acquisition; (5) the ability to recognize the anticipated benefits of the acquisition; (6) costs related to the acquisition; (7) changes in applicable laws or regulations; and (8) the possibility that Beelive or the Company may be adversely affected by other economic, business, and/or competitive factors.  These forward -looking statements are subject to the filings with the Securities and Exchange Commission ("SEC") made by the Company.  Company cautions that the foregoing list of factors is not exclusive and cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made.  Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, subject to applicable law. The information contained in any website referenced herein is not, and shall not be deemed to be, part of or incorporated into this press release.

Contacts

Ray Chen
VP, Investor relations
Scienjoy Inc.
+86-010-64428188
ray.chen@scienjoy.com

Jack Wang
ICR Inc.
+1 (212) 537-9254
scienjoy.ir@icrinc.com

PR Newswire

Industrial AI Solutions Startup MakinaRocks raises $10M in Series A

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Hyundai Motors, LG, Applied Ventures participate in Series A

SEOUL, South Korea and SILICON VALLEY, Calif., Aug. 12, 2020 — MakinaRocks, an industrial AI solutions startup aiming to revolutionize the world of manufacturing, announced today that it has successfully raised $10 million in Series A funding from prestigious global investors.

MakinaRocks, based in Seoul and Silicon Valley, specializes in industrial AI with a primary focus on providing intelligent control for anomaly detection in manufacturing equipment and improved product quality. The Series A participants include strategic investors LG Technology Ventures, Hyundai Motors and Applied Ventures, LLC, and financial investors Korea Development Bank, Daesung Venture Capital, Shinhan Investment Corporation, and HB Investment.

In its 2018 seed-round funding, MakinaRocks was successful in securing some of the leading Korean conglomerates, SK Telecom, Hyundai Motors, and Naver, as investors.

"Our innovative technology tailored to solve complex manufacturing challenges enables our customers to grow and compete globally," remarked Andre Yoon and Jaehyuk Lee, Co-CEOs of MakinaRocks. "The unique potential of MakinaRocks has attracted some of the largest companies to invest in us."

"We believe artificial intelligence and machine learning will transform the way semiconductor, display, and other high-end factories operate, redefining the concept for manufacturing including process optimization and maintenance," noted Anand Kamannavar, Global Head of Applied Ventures. "Through this investment in MakinaRocks, we are excited to help accelerate the adoption of Industry 4.0 technologies for multiple industries. Applied Ventures will continue looking for innovative start-ups globally in the areas of AI and machine learning as part of our strategy to invest across the Materials to Systems™ ecosystem."

MakinaRocks has collaborated with major corporations in various industries to apply its solution to a wide range of production lines. The results have shown overall improvement and increased efficiency of operation rate and quality by predicting equipment failure and anomalies while streamlining production processes  through intelligent control.

MakinaRocks expects to use the funds to expand the company’s portfolio and develop a Software as a Service (SaaS) platform built on the existing on-premise solutions to secure domestic and international customers. The company is actively hiring skilled individuals in data analysis, AI development, and business development. 

About MakinaRocks

Founded in 2017, MakinaRocks is a startup specializing in industrial machine intelligence. Using proprietary technology in anomaly detection and intelligent control, MakinaRocks’ solutions use sensor and numeric data to detect anomalies in equipment, increase product quality, and improve process control. Our solutions enhance the product and production processes of various industries such as semiconductors, automobiles,  batteries, and energy. For more information, visit www.makinarocks.ai.

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PR Newswire

Azeus Takes Lead in Redefining The Future of e-AGMS by Enabling The Borderless Intertwine Between Physical and Virtual AGMs

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  • Azeus’ latest e-AGM solution drives strong advocacy for all shareholders to exercise their rights amid the COVID-19 pandemic
  • Robust take-up in latest offering demonstrates urgent demand by companies to effectively meet shareholders’ needs in a ‘new normal’ environment
  • In the month of June, some 60 customers conducted their AGMs using Azeus’ e-AGM solution
  • e-AGM solution is now being marketed and expanding internationally

HONG KONG, Aug. 12, 2020 — Azeus Systems Holdings Ltd. ("Azeus" or the "Group") a leading provider of IT consultancy services based in Hong Kong, has taken a leadership role in redefining the future of electronic annual general meetings ("e- AGM") by enabling the borderless intertwine between physical and virtual AGMs. Riding on the back of this vision, Azeus recently launched its e-AGM solution which was largely conceptualised around the urgent need to drive a strong advocacy for all shareholders to exercise their rights, even with the restrictions and constraints brought about by the COVID-19 pandemic.

The Group’s latest service offering has elicited very encouraging response from listed companies, enterprises, business associations and non-profit organisations. This underpins an inherently strong demand for a solution that continues to meaningfully and safely engage stakeholders despite the constraints of the pandemic.

In the month of June alone, Azeus ran virtual AGMs for some 60 customers comprising listed companies, enterprises, business associations and non-profit organisations. Riding on the strong reception for its end-to-end e-AGM solution in Singapore, Azeus has started to market internationally, adding customers from the Philippines and Hong Kong.

Authorities across the world have imposed a wide range of containment measures, primarily involving social distancing measures to prevent the spread of COVID-19. Amid the ongoing situation, where companies face challenges in organising AGMs, the authorities have also made changes to allow AGMs to be conducted through virtual means.

Mr. Lee Wan Lik, Managing Director of Azeus, said, "Virtual AGMs are relatively new and have come to the fore because of the virus fallout. Azeus’ range of products have been designed to enable businesses and organisations to conduct remote meetings in line with industry best practices. We will continue to refine our latest e- AGM solution to break the barriers between physical and virtual AGMs. Our overarching objective for e-AGMs is to provide the same opportunities which a physical AGM offers, by protecting shareholders’ rights while facilitating the interaction between shareholders and the panel."

Just as the COVID-19 situation accelerates digitalisation, security is also a growing concern due to the increase in data vulnerability. As a CMMI Level 5 company, Azeus is recognised at the highest level possible internationally for software development capabilities and software integration. The Group’s software services, including the latest e-AGM solution, feature a high level of security. Data is stored in secure hosting facilities audited under international standards, and protected with complex encryption algorithms to ensure data security. In addition, Azeus’ e-AGM solution features a two-factor authentication for added security and verification, as well as a digital proxy form submission for the convenience of shareholders.

About Azeus Systems Holdings Ltd.

Established in 1991, Azeus is a leading provider of IT consultancy services. Headquartered in Hong Kong, Azeus has presence in the United Kingdom, the Philippines and China. Besides designing as well as implementing a wide range of IT software and systems to fulfil the outsourcing needs of customers, Azeus also provides maintenance and support services. The Group has won the first business processes outsourcing project from the Hong Kong Government, covering IT consulting, IT maintenance and support, as well as office operations and support services.

Azeus is appraised at the highest level of the CMMI-SW model, endorsing its commitment to delivering high quality work. Its emphasis on consistently high quality solutions has enabled the Group to build a solid track record of over 100 projects for many government departments and over 15 projects for the commercial sector in Hong Kong. Azeus has also developed several world class software products and has achieved an international customer base spanning over 70 countries in both the public and commercial sectors. In recent years, the Group has also expanded its operations into the UK, and established a growing track record of public sector projects for UK government bodies.

Azeus was listed on the Main Board of SGX-ST in October 2004.

PR Newswire

IBM Takes the Lead in ABI Research’s Industrial Blockchain-as-a-Service Competitive Assessment

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OYSTER BAY, New York, Aug. 12, 2020 — Blockchain-as-a-Service (BaaS) is a type of cloud-based solution for the development of blockchain applications. BaaS serves as a launchpad for broader blockchain technology adoption, effectively providing developers with a functional environment in which to build, test, and run new blockchain applications without having to worry about building the infrastructure from scratch or hosting and managing it. The Industrial Blockchain-as-a-Service competitive assessment examined companies offering BaaS solutions catering to industrial blockchain applications, including construction, pharmaceutical and life sciences, utilities, manufacturing, automotive, distribution, energy, and agriculture.  Global tech market advisory firm, ABI Research, has found that IBM and Microsoft are the clear leaders in industrial blockchain-as-a-service offerings.

Using ABI Research’s proven, unbiased innovation/implantation criteria framework, the Industrial BaaS Competitive Assessment analyzed and ranked six industrial BaaS vendors, namely Alibaba, Amazon, IBM, Microsoft, Oracle, and SAP. For this competitive assessment, innovation scores examined industrial POCs, industrial internet integration, ecosystem support, current roadmap, and geographic reach. Implementation criteria focused on platform choice, developer resources, integration with legacy industrial, management tools, and pricing.

"Both the BaaS markets and the digitalization of industrial markets are fairly nascent phenomena. Often, the intersection of blockchain and industrial service offerings are only within the remit of large technology providers with mature cloud and Internet of Things (IoT) offerings. As a result, only large companies play in the BaaS market, and all have varying levels of service offerings," says Michela Menting, Research Director at ABI Research.

Overall, IBM comes out on top, leading on both the innovation and the implementation front. The firm’s platform is open to a broad range of industrial verticals and has run a significant number of pilots and PoCs in the last five years, making it by far the most prominent BaaS provider in the space.  It also offers a broad range of platform choices and provides multi-cloud integration, above and beyond the other offerings.

Microsoft was ranked second, as a mainstream vendor, due to its resource-rich, flexible development and management infrastructure for its BaaS offering. Oracle comes in a solid 3rd, also as a mainstream vendor, with good industrial ecosystem support and comprehensive management tools. SAP, Amazon, and Alibaba have robust BaaS platforms, but with a more limited industrial play than the Assessment leaders.

These findings are from ABI Research’s Industrial BaaS Competitive Assessment report. This report is part of the company’s Digital Security research service, which includes research, data, and ABI Insights. Competitive Assessment reports offer comprehensive analysis of implementation strategies and innovation, coupled with market share analysis, to offer unparalleled insight into a company’s performance and standing in comparison to its competitors.

About ABI Research
ABI Research provides strategic guidance to visionaries, delivering actionable intelligence on the transformative technologies that are dramatically reshaping industries, economies, and workforces across the world. ABI Research’s global team of analysts publish groundbreaking studies often years ahead of other technology advisory firms, empowering our clients to stay ahead of their markets and their competitors. 

ABI Research 提供开创性的研究和战略指导，帮助客户了解日新月异的技术。 自1990年以来，我们已与全球数百个领先的技术品牌，尖端公司，具有远见的政府机构以及创新的贸易团体建立了合作关系。 我们帮助客户创造真实的业务成果。 

For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific or visit www.abiresearch.com.

Contact Info: 

Global                                                             
Deborah Petrara
Tel: +1.516.624.2558
pr@abiresearch.com                                                    

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PR Newswire

Tagzthai: Create a Social Circle for Top Traffic Traders

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GUANGZHOU, China, Aug. 12, 2020 — In August 2020, TagzThai entered into Thailand from Guangzhou, China. Tagzthai is dedicated to providing software platform for delivering value-added services (VAS) for users such as mobile operators, telecom operators, service providers, government informatization, large and medium-sized enterprises and others.

Tagzthai’s goal is to create a social circle for top traffic traders, including education, e-commerce, retail, offline, and services to the entire industry. The goal is to realize a substantial-high-quality social network resource library, a resource matrix gathered by traffic owners, brand owners, supply chains, service providers, platform parties, and various traders.

Tagzthai provides brand case planning services, to meet the needs of different customers.

1. Brand case planning service takes the product as the basis and brand as the core to comprehensively adjust the planning activities of enterprise and market operation, including brand plans, product plans, new product listing plans and others, and be responsible for the implementation.

2. Brand project module service defines the service content according to the project module, designs and formulates plans under the guidance of consultants, and conducts publicity and counseling to corporate personnel.

3. The annual brand consulting service focuses on the year according to the time and scope of service content. The enterprise team is the main body, and the consultant provides guidance and reference advice within the prescribed scope.

Since 2003, the company has obtained the Software Function Maturity Model 5 (CMMI5) certificate recognized by the U.S. Department of Defense in the United States and was selected as a model enterprise "Innovation Pilot Enterprise" in 2011. Founded in 2000, Tagzthai is a service organization focusing on media marketing. Its R&D center and management headquarters are located in Guangzhou. It is known as the software industry base under the attention of Guangzhou Tianhe Software Co., Ltd. Our company is a leading provider of IT solutions and professional services with 20 years of experience. It is recognized as a critical software enterprise in the national planning layout, a national high-tech enterprise, a backbone enterprise in Guangzhou Tianhe Software Park, and a federal computer information system integration level 4 Qualified enterprise, a trustworthy enterprise, etc. Broadening the boundaries of leading technology and innovation, Tagzthai continues to shape the future of advanced technology Internet.

Website: http://www.tagzthai.com 

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PR Newswire

Planet Exceeds Business Targets, Advancing Through 2020 with Momentum

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SAN FRANCISCO, Aug. 12, 2020 — Planet, operator of history’s largest commercial fleet of satellites, today announced that they doubled the amount of new business booked in the second quarter of 2020 (Q2), compared to the same period a year ago. They’re seeing an increase of inbound interest and results indicate that remote sensing data is critically important to industries when in-person travel is limited and personnel health and safety is a top priority.

In the first half of 2020, Planet increased first-time customers by 21 percent, compared to the same period in 2019. They saw over 100 percent year-over-year growth across all product lines, with SkySat tasking achieving more than a 200 percent increase. Planet is experiencing huge demand for their data by users in civil government, forestry, the U.S. federal government, academia, and international government. These customers are using Planet’s data to remotely and safely monitor infrastructure, enforce code and permitting regulations, and track assets. They also expanded their partnership with Esri, enabling users of the market-leading GIS platform to purchase and access Planet’s data directly.

Planet’s teams have grown to support increased demand and they’ve welcomed talented new leaders to the company, including Ashley Johnson as CFO, Rosanne Saccone as CMO, and Wendy Tan White to their Board of Directors. Recognizing their role in helping to stop social injustice, they’re doubling down on efforts to make Planet a diverse and inclusive environment. And on the space and product side, they’ve launched three more SkySats and released a suite of new capabilities to their market-leading high-resolution product line.

Planet is focused on finishing 2020 strong. They’ll be hosting their second user conference, Planet Explore, continuing their work with journalists, researchers and academia, and launching more satellites on multiple rockets. You can expect to see more product enhancements that help users capitalize on their capabilities and data.

This year will be hard for all, but Planet hopes that by supporting each other and continuing to deliver for their users, they might be a bright spot in a bleak landscape, and play some small part in bringing about a better future.

About Planet

Planet is the leading provider of global, near-daily satellite imagery data and insights. Founded in 2010 by NASA scientists, Planet designs, builds and operates the largest Earth observation fleet of satellites, and provides the online software, tools and analytics needed to deliver data to users.

Sarah Bates
sarah.bates@planet.com 

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PR Newswire

Funding Societies and SMU collaborate to develop a case on P2P Lending for Small Businesses

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SINGAPORE, Aug. 12, 2020 — Funding Societies, Southeast Asia’s largest digital financing platform, and Singapore Management University (SMU) have come together to develop and publish a case study explaining the role of FinTech and Peer-to-Peer (P2P) lending for small businesses. This is the first such case covering a P2P lender that SMU has developed, and involved in-depth research into the industry and the workings of the homegrown FinTech.  

Funding Societies and Singapore Management University collaboration
Funding Societies and Singapore Management University collaboration

The case is authored by faculty members of SMU’s Lee Kong Chian School of Business (LKCSB), which has been enhancing its course offerings and teaching material in Digital Business, as part of its aim to better equip students for the digital transformations that are occurring in the business world. It comes at a timely juncture as the P2P industry is expanding steadily, making competition fiercer than ever before. In recent years, several platforms similar to Funding Societies have entered the market while others are now being acquired by larger companies.

Authored by Associate Professors of Marketing Hannah Chang and Michelle Lee, and produced by the University’s Centre for Management Practice, the published case titled Using Fintech to Support Small Businesses in Singapore examines how FinTech companies can stand out in the trade with an innovative service, and how they can, through careful market segmentation and targeting, gain a competitive edge in acquiring and retaining customers. It focuses on Funding Societies’ innovative use of technology to reduce customer pain points, and also analyses the FinTech’s outreach efforts employed to educate the Micro Small and Medium Enterprise (MSME) segment on how its products can close financing gaps unserved by traditional financial institutions.

An excerpt from the case hints at the added value that FinTech platforms like Funding Societies bring to this overlooked segment through the use of technology:

Debt crowdfunding, also referred to as peer-to-peer (P2P) lending, represents an alternative source of loans for businesses to borrow money. P2P companies are different from banks in that they operate through online platforms, utilise data analytics and algorithms for credit risk assessment, and have much shorter turnaround times for loan approvals than the banks. Moreover, while banks lend money to companies using customer deposits, P2P companies play the part of a matchmaker by enabling individual investors to put money directly towards funding a particular loan.

In just five years, Funding Societies has disbursed over S$1.5 billion in funding across more than 2.6 million business loans across Southeast Asia. Back in the day as one of the industry’s pioneers and offering only one product out of Singapore, Funding Societies has today flourished into the only homegrown P2P lender with multiple SME financing products and licensed in three countries – Singapore, Malaysia, and Indonesia. The company has also been shortlisted for the Singapore digital wholesale banking license in a consortium with AMTD, Xiaomi, and SP Group.

"While relatively young in Singapore, P2P lending has become a major form of alternative financing for SMEs and alternative investment for the public, because of its accessibility and convenience. As it continuously evolves, we believe it will become mainstream finance, attracting and nurturing more local talent, and further contributing to the local FinTech space as a whole," said Kelvin Teo, Co-founder and Group CEO of Funding Societies.

Associate Professor Michelle Lee, who is also Associate Dean (Undergraduate Matters) at SMU LKCSB, said, "P2P lending is a burgeoning area within FinTech and every business student ought to have some understanding of the industry. This case provides them with that understanding and prompts them to think deeply about how a company in that space can compete effectively. It sharpens their thinking about a firm’s value proposition vis-à-vis direct and indirect competition, as well as how a competitive advantage can be sustained."

"Since its inception, SMU has held to the principle of preparing students well for industry and this has meant ensuring the currency of its curriculum and teaching material. This case is one example of how that is brought about," she added.

The case is available here: https://cmp.smu.edu.sg/case/4406*. Other financial institutions which SMU has published cases on include Ant Financial, Nium, and DBS.

*Note: A complimentary copy of the published case is available to the press upon request. Kindly note that the copy is strictly for internal use only and not for further dissemination.

About Funding Societies

Funding Societies | Modalku is the largest SME digital financing platform in Southeast Asia. It is licensed in Singapore, Indonesia and Malaysia, and backed by Sequoia India and Softbank Ventures Asia Corp amongst many others. It provides business financing to small and medium-sized enterprises (SMEs), which is crowdfunded by individual and institutional investors. In 5 years, it has helped finance over 2.6 million business loans with over S$1.5 billion in funding. It was given the MAS FinTech Award in 2016, the Global SME Excellence Award at the United Nations’ ITU Telecom World in 2017, Brands for Good in 2019, recognised by IDC as amongst the 5 fastest growing FinTechs in Singapore, and the Stevie® Award in 2020.

Read our company story here: https://blog.fundingsocieties.com/our-story/

About Singapore Management University

A premier university in Asia, the Singapore Management University (SMU) is internationally recognised for its world-class research and distinguished teaching. Established in 2000, SMU’s mission is to generate leading-edge research with global impact and to produce broad-based, creative and entrepreneurial leaders for the knowledge-based economy. SMU’s education is known for its highly interactive, collaborative and project-based approach to learning.

Home to over 10,000 students across undergraduate, postgraduate professional and postgraduate research programmes, SMU is comprised of six schools: School of Accountancy, Lee Kong Chian School of Business, School of Economics, School of Information Systems, School of Law, and School of Social Sciences. SMU offers a wide range of bachelors’, masters’ and PhD degree programmes in the disciplinary areas associated with the six schools, as well as in multi-disciplinary combinations of these areas.

SMU emphasises rigorous, high-impact, multi- and inter-disciplinary research that addresses Asian issues of global relevance.  SMU faculty members collaborate with leading international researchers and universities around the world, as well as with partners in the business community and public sector.  SMU’s city campus is a modern facility located in the heart of downtown Singapore, fostering strategic linkages with business, government and the wider community.  www.smu.edu.sg

About SMU Centre for Management Practice

The Centre for Management Practice (CMP) was established to position SMU as a university that collaborates closely with industry, to inform and learn from the world of management and practice. This is accomplished by furthering the case methodology to enrich education at SMU and other organisations across the globe, and translating selected academic outputs to practice-oriented knowledge that can be consumed by a non-academic audience.

Case Writing Initiative

The Case Writing Initiative (CWI) was set up in August 2011 with the ambitious goal of filling a critical need to develop business case studies based on an Asian setting for use in international curriculums. Business cases provide both research and learning opportunities to faculty members, students and those in industry. The process of working collaboratively with businesses on case studies enables faculty members to be grounded in both theory and practice. They develop a richer understanding of the business context in their subject matter and its application to real world situations. The cases developed by faculty members are used in class to illustrate key theoretical concepts and frameworks. From the students’ perspective, they provide an opportunity to make decisions that require critical thinking and debate. From the corporate perspective, they present a contribution to management education and allow for a different perspective on existing business issues.

To date, CWI has published over 285 cases, with another 50 in the pipeline. These cases have won several prestigious international awards, and been adopted by leading universities and corporates schools worldwide. The cases are distributed by the Case Centre and Harvard Business Publishing. 

Media Contacts

Funding Societies

Glennice Yong

Senior PR & Communications Executive

glennice.yong@fundingsocieties.com

+65 9155 4662

SMU

Huang Peiling

Snr Associate Director, Corporate Communications

plhuang@smu.edu.sg

+65 6828 0964 / +65 9845 3361

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PR Newswire

Singapore employees return to a changing workplace as COVID-19 accelerates greater collaboration between humans and technology, says GlobalData

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  • Employees empowered with new digital skills as COVID-19 accelerates greater collaboration between humans and technology
  • Advances in mobile technologies and applications is driving a collaboration boom as businesses adopt video conferencing and wearables as AI platforms
  • COVID-19 fueling automation of supply chains across different industries

SINGAPORE, Aug. 12, 2020 — As the economy re-starts in Singapore, workers are returning to a changing workplace as COVID-19 accelerates greater collaboration between humans and technology, empowering employees with new digital skills, according to GlobalData, a leading data and analytics company.

Various technologies are transforming ‘The future of work’ in Singapore including video conferencing and other collaboration tools, communication between smart objects, supply chain automation and digital twinning to provide virtual presentations.

Collaboration becomes an AI platform

The rapid advances in mobile technologies and applications has driven a collaboration boom since the pandemic started as businesses adopt video conferencing as AI platforms. OCBC Bank Singapore introduced a mobile app to launch ‘HealthPass’ which enables patients to book video consultation appointments with over 100 general practitioners. The use of wearables is also accelerating as mobile and wireless technologies support positive health outcomes through m-health. One example is ‘smart rings’ which provide advance warning of infections with a 90% accuracy.

Access agnostic connectivity

The seamless communication between smart objects over the internet is also proving to be transformative in the changing work landscape. Singapore-based telecom provider M1 has been working with regulator IMDA and airline manufacturer Airbus to trial unmanned aerial vehicles using 5G technology for the Singapore Port and Maritime Authority to use as part of its incident management response and the running of its general operations.

Automation

One of the biggest changes COVID-19 has brought is the automation of the supply chain with several industries such as manufacturing, healthcare and aerospace now embracing 3D printing. Researchers at the National University of Singapore (NUS) have found a method of producing nasopharyngeal COVID-19 testing swabs using 3D-printing and injection molding providing local production capability which will ease global shortages.

Data visualization, interpretation

Advanced digital technologies are also providing analytics tools and insights for line-of-business users. Several of Singapore’s capital-intensive industries including construction which has been one of the hardest hit, are investing in digital twinning to create virtual representations of processes and physical objects.

Dustin Kehoe, Head of Technology Research for Asia-Pacific at GlobalData, says: "One of the biggest challenges facing Singaporean businesses in the short-term is in HR. Employees will need a lot of reassurance and support to embrace the changing future of work and acquire the skills they will need to adjust to new ways of working, as work flows move from physical locations and rigid hierarchies towards peer-to-peer collaboration in virtual teams."  

Please contact the GlobalData Press Office for comment, analysts available for interview at +91 40 6616 6809/ +44 (0) 207 936 6400. Email: pr@globaldata.com.

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