Tag Archives: FIN

PR Newswire

Appian Launches Connected Underwriting for Life Insurance in Partnership with Swiss Re

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New workbench enables holistic underwriting automation and workload management to improve operational efficiency and underwriter experience.

MCLEAN, Va., Oct. 26, 2023 /PRNewswire/ — Appian (Nasdaq: APPN) today announced the availability of the Connected Underwriting Life Workbench to help insurers unify workflows and data in an automated, end-to-end process. The solution makes underwriters’ lives easier by giving them a single interface to evaluate and classify risk, handle exceptions, and make case decisions.

Appian announces the availability of the Connected Underwriting Life Workbench to help insurers unify workflows and data in an automated, end-to-end process.
Appian announces the availability of the Connected Underwriting Life Workbench to help insurers unify workflows and data in an automated, end-to-end process.

The Connected Underwriting Life Workbench is a streamlined underwriting solution that is prebuilt on the Appian Platform. It is designed to drive speed to market with reduced IT effort for implementation. Its data fabric capabilities enable quick data and integration connectivity, coupled with AI-led automation that supports change management and optimized processes. Appian’s AI architecture, which includes generative AI capabilities, allows insurers to process content at scale and automate repetitive tasks, such as classifying emails and extracting data from documents. This allows Appian customers to facilitate faster benefit realization and enhance their competitiveness with a better underwriting experience. Life Workbench improves the quality, consistency and procedural adherence of cases. Additionally, the system allows 24/7 real-time monitoring and data extraction from various sources, seamless integration with third-party tools, and augmented decision-making with a complete audit trail.

Life Workbench offers a prebuilt integration with Swiss Re’s Magnum Pure, an influential automated underwriting solution powered by Swiss Re’s Life Guide. This integration empowers underwriters to overcome the complexities of multiple systems used to underwrite a case by bringing together all the relevant data, images, and human system interactions. Underwriters can better evaluate and classify risk, handle exceptions, and make critical case decisions rather than focusing on the procedural and administrative steps, transactions, and keystrokes. This partnership combines Appian’s expertise in AI, automation, data fabric, and case management with Swiss Re’s industry-leading automated underwriting engine, Magnum Pure, to simplify the underwriting process. The Swiss Re Magnum Pure solution must be purchased separately from the Appian Platform to enable the integration.

Key Benefits of Appian Connected Underwriting Life Workbench include:

  • Easier, more complete access to data. With Appian and Swiss Re’s Magnum Pure, underwriters have access to a best-in-class underwriting experience that provides a comprehensive, single-pane-of-glass view by surfacing relevant data from dispersed systems.
  • More efficient exception handling. Case management capabilities allow underwriters to spend less time collecting information and reduce the time it takes to handle exceptions, minimizing and in some cases eliminating manual processes and paperwork.
  • Process monitoring and optimization. Dashboards and KPIs help individuals, teams, and managers monitor underwriting processes and provide valuable insights about performance that can be used to optimize and improve case workflow, including initial review, case priority, and logic-based auto-assignment.

“Today’s customers demand seamless digital experiences, and insurers can’t afford to be held back by sluggish underwriting processes and data silos. Appian Connected Underwriting Life Workbench is a game-changer. It combines automation, data fabric, and plug-and-play integrations to accelerate underwriting, helping insurers avoid unprofitable risks and ensuring a superior experience for both customers and underwriters,” said Jacob Sloan, Industry Vice President, Global Insurance, Appian.

“This offering is powered by Magnum, Swiss Re’s automated underwriting solution and allows business users to render point of sale underwriting decisions faster and more seamlessly, ultimately improving the experience for the end consumer. We are delighted to utilize our product innovation expertise to help bring this offering to market,” said Jason Render, Head Magnum Americas, Life & Health Solutions, Swiss Re.

The Appian Platform modernizes underwriting with generative AI to minimize risk, increase efficiency, improve auditability, and ensure a positive customer experience. Key architectural components make it easy to leverage AI, including Appian’s data fabric architecture, Automated APS draft, Open AI natural language correspondence through AI Copilot, and private AI strategy for faster delivery of powerful and secure end-to-end process automation solutions.

Appian is trusted by leading insurance organizations such as Aon, Aviva, and Pacific Life to connect and automate data, equipping insurers to make informed, data-backed decisions. To learn more, visit https://appian.com/insurance.

About Appian

Appian is a software company that automates business processes. The Appian AI Process Platform includes everything you need to design, automate, and optimize even the most complex processes, from start to finish. The world’s most innovative organizations trust Appian to improve their workflows, unify data, and optimize operations—resulting in better growth and superior customer experiences. For more information, visit appian.com. [Nasdaq: APPN]

Follow Appian: Twitter, LinkedIn.

Follow Appian UK: Twitter, LinkedIn.

About Swiss Re

The Swiss Re Group is one of the world’s leading providers of reinsurance, insurance and other forms of insurance-based risk transfer, working to make the world more resilient. It anticipates and manages risk – from natural catastrophes to climate change, from ageing populations to cyber crime. The aim of the Swiss Re Group is to enable society to thrive and progress, creating new opportunities and solutions for its clients. Headquartered in Zurich, Switzerland, where it was founded in 1863, the Swiss Re Group operates through a network of around 80 offices globally.

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PR Newswire

HUYA Inc. to Report Third Quarter 2023 Financial Results on Tuesday, November 14, 2023

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-Earnings Webinar Scheduled for 7:00 a.m. ET on November 14, 2023–

GUANGZHOU, China, Oct. 24, 2023 /PRNewswire/ — HUYA Inc. (“Huya” or the “Company”) (NYSE: HUYA), a leading game live streaming platform in China, today announced that it will report its third quarter 2023 unaudited financial results on Tuesday, November 14, 2023, before the open of U.S. markets.

The Company’s management will host a Tencent Meeting Webinar at 7:00 a.m. U.S. Eastern Time on November 14, 2023 (8:00 p.m. Beijing/Hong Kong time on November 14, 2023), to review and discuss the Company’s business and financial performance.

For participants who wish to join the webinar, please complete the online registration in advance using the links provided below. Upon registration, participants will receive an email with webinar access information, including meeting ID, meeting link, dial-in numbers, and a unique attendee ID to join the webinar.

Participant Online Registration

A live webcast of the webinar will be accessible at https://ir.huya.com, and a replay of the webcast will be available following the session.

[1] For the purpose of this announcement only, Chinese Mainland excludes the Hong Kong Special Administrative Region, the Macao Special Administrative Region of the People’s Republic of China, and Taiwan.

About HUYA Inc.

HUYA Inc. is a leading game live streaming platform in China with a large and active game live streaming community. The Company cooperates with e-sports event organizers, as well as major game developers and publishers, and has developed e-sports live streaming as one of the most popular content genres on its platform. The Company has created an engaged, interactive and immersive community for game enthusiasts of China’s young generation. Building on its success in game live streaming, Huya has also extended its content to other entertainment content genres. Huya’s open platform also functions as a marketplace for broadcasters and talent agencies to congregate and closely collaborate with the Company.

For more information, please visit: https://ir.huya.com.

For investor and media inquiries, please contact: 

In China:

HUYA Inc.
Investor Relations
Tel: +86-20-2290-7829
E-mail: ir@huya.com 

Piacente Financial Communications
Jenny Cai
Tel: +86-10-6508-0677
E-mail: huya@tpg-ir.com 

In the United States:

Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: huya@tpg-ir.com 

Source: HUYA Inc.

PR Newswire

TIER IV certified in Level 4 autonomous driving: Sharing its design and process with partners

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TOKYO, Oct. 20, 2023 /PRNewswire/ — TIER IV, a pioneer in open-source autonomous driving (AD) technology, proudly announces its successful Level 4*1 certification for “AI Pilot*2,” an AD system operating without a human driver at the GLP ALFALINK Sagamihara, a large-scale logistics campus in Greater Tokyo, in accordance with the Road Transport Vehicle Act. Roads within the GLP ALFALINK Sagamihara are regulated by the Road Traffic Act, and used by pedestrians and vehicles. This is the first case for a system that conducts perception, prediction and planning using the AD systems, without any dependence on road infrastructure, to obtain the Level 4 certification in such an environment. Following the guidelines for customizing Level 4 commercial autonomous vehicles published in June 2023, TIER IV commits to sharing the process and design for this certification as a solution for its partners that aim to develop AD systems, contributing significantly to the realization of autonomous driving.

This project is positioned as the first effort toward the Japanese government’s goal of the national autonomous driving project, and the certification has been granted for “AI Pilot”, an AD system that is developed by TIER IV. “AI Pilot” consists of open-source software, “Autoware*3,” alongside a sensor system, a computer system, and an in-vehicle infotainment (IVI) system, which can be equipped with various vehicle models.

Through continued research and development as well as evaluation and verification, TIER IV aims to further advance functions and performance of AD systems. Building upon the Level 4 certification obtained under the Road Transport Vehicle Act, TIER IV is poised to utilize its knowledge for the mass production and development of electric vehicles (EVs). Pursuing Level 4 certifications in urban areas nationwide in Japan, TIER IV is taking the lead in the deployment of AD systems towards the government’s goal of establishing over 50 locations with driverless services in Japan by 2025, and over 100 locations by 2027.

*1 In Japan, Level 4 is considered to be fully driverless autonomous driving, which means that a vehicle can handle most driving situations independently, under specific conditions, on public roads.

*2 AI Pilot is a registered trademark of TIER IV.

*3 Autoware is a registered trademark of the Autoware Foundation.

About TIER IV

TIER IV, the creator of Autoware, the world’s first and widely acclaimed open-source autonomous driving (AD) software, is at the forefront of the research and development of AD technology. The company provides cutting-edge technology solutions, including software and hardware across multiple platforms, that enable the safe and efficient development of autonomous driving. TIER IV is committed to the societal implementation of AD technology, driven by their vision of “the art of open source – reimagine intelligent vehicles”.

As a founding member of the Autoware Foundation (AWF), TIER IV leverages Autoware’s capabilities and collaborates with partners worldwide. Through the ecosystem powered by Autoware, the company aims to expand the potential of AD technology, involving individuals, organizations, and all stakeholders, as they strive for the realization of a better society.

Media Contact
pr@tier4.jp

Business Inquires
l4ride@tier4.jp

PR Newswire

Embrace the Future of Cloud and Network Towards Digitalisation

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– eSurfing Cloud Global Tour · Asia Pacific Event in Singapore

HONG KONG, Oct. 20, 2023 /PRNewswire/ — China Telecom (Asia Pacific) is thrilled to announce the resounding success of the event titled “Embrace the Future of Cloud and Network Towards Digitalisation” at the Pan Pacific Singapore. The event witnessed the participation of more than 200 business professionals, with attendees joining us both in person and virtually, marking the commencement of eSurfing Cloud’s global promotional journey. This Singapore conference marked the inception of eSurfing Cloud’s global promotional expedition, building on the success of its inaugural conference in Hong Kong on June 16, 2023.

China Telecom Global Executive Vice President, Mr Li Kang, and President of Chinese Enterprise Association (Singapore), Mr Tan Zhi Yong, were honoured as guest speakers during the event’s opening session. Mr Li Kang extended his appreciation to the Chinese Enterprise Association (Singapore), valued clients, and industry partners for their trust and continuous support over the years. Mr Li emphasised, “eSurfing Cloud has officially expanded into the Asia-Pacific region, marking a significant step by China Telecom in its deep commitment to the Asia-Pacific region and its efforts to drive digital transformation in the Asia-Pacific.”

Invited guest, President of Chinese Enterprise Association (Singapore), Mr Tan Zhi Yong mentioned, “China Telecom Asia Pacific has firmly established its presence in Singapore, and it has made significant contributions to Singapore’s digital economic development, social progress, and improvements in people’s lives. This fully showcases the positive role played by Chinese enterprises based in Singapore. We hope that everyone will work together to advance Singapore’s technological innovation to new heights, continually enhancing Singapore’s development capabilities”.

During the knowledge-sharing sessions, Managing Director of China Telecom Asia Pacific, Mr. Eason Cheng, Vice President and Deputy General Manager of Cloud Core Platform of China Telecom Global, also shared on eSurfing Cloud’s development history and core advantages. He outlined the overseas resource deployment and product system of eSurfing Cloud. He placed special emphasis on China Telecom’s unique advantages in infrastructure and security, and its commitment to providing excellent services to help businesses achieve digital transformation. Mr. Li Qing, Managing Director of China Telecom (Asia Pacific), shed light on eSurfing Cloud’s strategy in the Asia Pacific. He also presented solutions for various industry businesses to transition to the cloud, based on industry research data. Through case studies, he emphasised eSurfing Cloud’s unique advantages in assisting Chinese enterprises in their global expansion efforts and foreign enterprises in entering the Chinese market.

A formal MOU signing ceremony was conducted, bringing together China Telecom Global and Feishu, China Telecom Asia Pacific and China Life Insurance (Singapore), China Aviation Oil (Singapore), and Industrial and Commercial Bank of China (Singapore). Distinguished guests also delivered insightful presentations on the event about win-win partnership and digital transformation.

The conference also included the eSurfing Cloud Asia-Pacific Launch Ceremony, which was attended by Mr. Li Kang, Executive Vice President of China Telecom Global, Mr. Li Qing, Managing Director of China Telecom (Asia Pacific), Mr. Tan Zhi Yong, President of China Enterprises Association (Singapore), CEO of MCC Singapore, Mr. He Bin, Vice President of Feishu, Mr. Howard Chen, Managing Director of Yonyou (Singapore) Pte Ltd, Mr. Lin Yi, CEO of China Aviation Oil (Singapore) Corporation Ltd, Mr. Lin Xiang Yang, Chief Executive of China Life Insurance (Singapore) Pte. Ltd, and Mr. Yang Yu, Managing Director of Industrial and Commercial Bank of China Limited Singapore Branch. Amid the countdown, they collectively witnessed the new journey of the eSurfing Cloud Global Tour’s Asia Pacific stop. Embracing the future of cloud and network towards digitalisation, let’s eagerly anticipate eSurfing Cloud setting sail in Singapore and venturing into the global arena!

Furthermore, the conference set up different exhibition areas on-site, utilizing various formats such as videos and interactive cloud showrooms to showcase China Telecom Global’s global resources and IDC business, eSurfing Cloud’s overseas cloud-network infrastructure layout, and industry case studies. Expert presentations and Q&A sessions were arranged to facilitate face-to-face interactions and discussions with participants, exploring the future of cloud computing, seeking opportunities for cooperation and win-win partnerships, and expanding globally.

China Telecom actively practices the concept of integrated cloud and network, and strives to build technological cloud, intelligent cloud, and secure cloud solutions. With a steadfast commitment to technological innovation, China Telecom Global’s eSurfing Cloud has undergone a comprehensive upgrade to eSurfing Cloud 4.0, a distributed cloud platform. Adhering to the four-in-one security concept of cloud foundation security, network security, data security, and information security, eSurfing Cloud effectively meets the security requirements of international customers. By providing output and integration capabilities of “one cloud, multiple cores” and “one cloud, multiple forms,” along with comprehensive fusion management, eSurfing Cloud is fully dedicated to promoting enterprise information construction and injecting new momentum into the global digital transformation of businesses.

Embrace the Future of Cloud and Network Towards Digitalisation. China Telecom Global will continue to uphold its vision of empowering the digital transformation of various industries. It will leverage the advantages of integrated cloud and network, deepen global cooperation, and jointly create a global cloud ecosystem. Together with global enterprises, China Telecom eSurfing Cloud will embrace the digital wave and embark on a transformative path of rapid development.

PR Newswire

ATIF Formally Signs $2.4 million Advisory Agreement with Rawrr, Inc.

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IRVINE, Calif., Oct. 16, 2023 /PRNewswire/ — ATIF Holdings Limited (NASDAQ: ATIF, hereinafter referred to as the “Company” or “ATIF”) announces that its subsidiary, ATIF Business Management LLC, has entered into a definitive agreement with Rawrr, Inc. (hereinafter referred to as the “Rawrr”) to provide corporate advisory services.

Under the terms of the agreement, the Company will provide corporate advisory services to Rawrr and help engage third parties to perform audit, valuation, investor relations and other services.

Jun Liu, President, Chairman of the Board and CEO of ATIF, said, “We are pleased to announce our partnership with Rawrr. I look forward to seeing the growth of Rawrr and its ambitious expansion plans as a public company in this rapidly growing industry.”

With this cooperation, ATIF will provide comprehensive guidance and escort for enterprises in the capital path according to their development needs, and help Rawrr to list on the NASDAQ capital market as soon as possible!

About ATIF

ATIF Holdings Limited (NASDAQ: ATIF) is a Lake Forest-based business consulting company that specializes in providing professional IPO, M&A advisory and post-IPO compliance services to small and medium-sized companies seeking to go public on a stock exchange in the United States. The company has a proven track record in successfully delivering comprehensive U.S. IPO consulting services to clients primarily in the United States but also internationally. The mission of ATIF is to provide one-stop, comprehensive consulting services that guide clients through the complex and often challenging process of going public. ATIF recognizes the complexity and challenges associated with the process of going public, and endeavors to simplify it while ensuring optimal outcomes for its clients through its comprehensive consulting services. ATIF has been awarded the “Golden Bauhinia Award”, the highest award in the financial and securities industry in Hong Kong, for “Top 10 Best Listed Companies”.

Forward-Looking Statements

Certain statements in this press 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, “estimated,” “projected,” Words such as “expect”, “anticipate”, “predict”, “plan”, “intend”, “believe”, “seek”, “may”, “will”, “should”, “future”, “propose” and variations of these words or similar expressions (or the opposite of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements do not guarantee future performance, conditions or results and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control and may cause actual results or achievements to differ materially from those discussed in the forward-looking statements. Important factors include future financial and operating results, including revenues, income, expenses, cash balances and other financial items; Ability to manage growth and expansion; Current and future economic and political conditions; The ability to compete in industries with low barriers to entry; The ability to obtain additional financing to fund capital expenditure in the future. Ability to attract new customers and further enhance brand awareness; Ability to hire and retain qualified management and key staff; Trends and competition in the financial advisory services industry; Pandemic or epidemic disease; Except as required by law, the Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, the Company cannot assure you that such expectations will turn out to be correct, and the Company cautions you that actual results may differ materially from the expected results expressed or implied by the forward-looking statements we make. You should not interpret forward-looking statements as predictions of future events. Forward-looking statements represent only the beliefs and assumptions of our management as of the date such statements are made. The above forward-looking statements are made as of the date of this press release.

PR Newswire

MMTEC, INC. TO HOLD ITS 2023 ANNUAL MEETING OF SHAREHOLDERS ON NOVEMBER 10, 2023

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HONG KONG, Oct. 14, 2023 /PRNewswire/ — MMTEC, Inc. (NASDAQ: MTC) (“MMTEC”, “we”, “our” or the “Company”), a China-based technology company that provides access to the U.S. financial markets, today announced that it will hold its 2023 annual meeting of shareholders (the “2023 Annual Meeting”) at its principal executive offices at Room 2302, 23rd Floor, FWD Financial Center, 308 Des Voeux Road Central, Sheung Wan, Hong Kong, on November 10, 2023, at 9:00 a.m. local China time (or 8:00 p.m. Eastern Standard Time). The Company’s board of directors fixed the close of business on October 10, 2023, as the record date for shareholders entitled to receive notice and to vote at the 2023 Annual Meeting or any adjournment or postponement thereof.

About MMTEC, Inc.

Headquartered in Hong Kong Special Administrative Region, our Company mainly focuses on investment banking and asset management business, providing customers with one-stop and all-round financial services.

More information about the Company can be found at: www.haisc.com.

Forward-Looking Statements

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may”, “will”, “intend”, “should”, “believe”, “expect”, “anticipate”, “project”, “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Specifically, the Company’s statements regarding its continued growth, business outlook, and other similar statements are forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s goals and strategies; the Company’s future business development; product and service demand and acceptance; changes in technology; economic conditions; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission, including the Company’s most recently filed Annual Report on Form 20-F and its subsequent filings. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

Source: MMTEC, Inc.

PR Newswire

Ucommune Announces Extraordinary General Meeting

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BEIJING, Oct. 14, 2023 /PRNewswire/ — Ucommune International Ltd (NASDAQ: UK) (“Ucommune” or the “Company”), a leading agile office space manager and provider in China, today announced that an extraordinary general meeting of the Company (the “Meeting”) will be held at 10 A.M. on November 29, 2023, Beijing time (9 P.M. on November 28, 2023, U.S. Eastern time) at Floor B1, No.2 Guanghua Road, Chaoyang District, Beijing, China. The Company has established the close of business on October 20, 2023, Eastern time (the “Record Date”), as the record date for determining shareholders entitled to notice of, and to vote at, the Meeting and any adjournments or postponements thereof. The purpose of the Meeting is:

(1)   to effect an increase of authorized share capital from US$50,000.00 divided into 25,000,000 ordinary shares of par value of US$0.002 each, comprising (i) 20,000,000 Class A ordinary shares of par value of US$0.002 each and (ii) 5,000,000 Class B ordinary shares of par value of US$0.002 each, to US$600,000.00 divided into 300,000,000 ordinary shares of par value of US$0.002 each, comprising (i) 240,000,000 Class A ordinary shares of par value of US$0.002 each and (ii) 60,000,000 Class B ordinary shares of par value of US$0.002 each, by creating additional 220,000,000 authorized but unissued Class A ordinary shares and 55,000,000 authorized but unissued Class B ordinary shares (the “Increase of Share Capital”);

(2)   to effect a share consolidation of 12 ordinary shares with a par value of US$0.002 each in the Company’s issued and unissued share capital into one ordinary share with a par value of US$0.024 (the “Share Consolidation”), so that the authorized share capital of the Company will be US$600,000.00 divided into 25,000,000 ordinary shares of par value of US$0.024 each, comprising (i) 20,000,000 Class A ordinary shares of par value of US$0.024 each and (ii) 5,000,000 Class B ordinary shares of par value of US$0.024 each; and

(3)   to amend the Company’s Amended and Restated Memorandum and Articles of Association currently in effect (the “Current M&A”) to (i) reflect the Increase of Share Capital and the Share Consolidation and (ii) change the voting power of the Class B ordinary shares of par value of US$0.024 each (the “Class B Ordinary Shares”) from thirty-five (35) votes for each Class B Ordinary Share to fifty-five (55) votes for each Class B Ordinary Share.

Pursuant to the Current M&A, the Company obtained the ordinary resolutions of the holders of Class B ordinary shares to approve the proposed variation of rights of Class B ordinary shares set forth in the notice of the Meeting on October 10, 2023. Subject to the approval at the Meeting, the Share Consolidation will be effective at 5 P.M. on November 29, 2023, U.S. Eastern time, and the Class A ordinary shares are expected to begin trading on a post-Share Consolidation basis on the Nasdaq Capital Market when markets open on the next business trading day under the new CUSIP/ISIN numbers. No fractional shares will be issued in connection with the Share Consolidation. All fractional shares will be rounded up to the whole number of shares. Copies of the notice of the Meeting and the form of proxy are available on the Company’s corporate investor relations website at https://ir.ucommune.com.

About Ucommune International Ltd

Ucommune is China’s leading agile office space manager and provider. Founded in 2015, Ucommune has created a large-scale intelligent agile office ecosystem covering economically vibrant regions throughout China to empower its members with flexible and cost-efficient office space solutions. Ucommune’s various offline agile office space services include self-operated models, such as U Space and U Design, as well as asset-light models, such as U Brand and U Partner. By utilizing its expertise in the real estate and retail industries, Ucommune operates its agile office spaces with high efficiency and engages in the urban transformation of older and under-utilized buildings to redefine commercial real estate in China.

Safe Harbor Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “potential,” “continue,” “ongoing,” “targets,” “guidance” and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s growth strategies; its future business development, results of operations and financial condition; its ability to understand members’ needs and provide products and services to attract and retain members; its ability to maintain and enhance the recognition and reputation of its brand; its ability to maintain and improve quality control policies and measures; its ability to establish and maintain relationships with members and business partners; trends and competition in China’s agile office space market; changes in its revenues and certain cost or expense items; the expected growth of China’s agile office space market; PRC governmental policies and regulations relating to the Company’s business and industry, and general economic and business conditions in China and globally and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

Ucommune International Ltd
ir@ucommune.com 

PR Newswire

UnionPay and Lazada Enter into Partnership to Grow International Online Transactions

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BANGKOK, Oct. 13, 2023 /PRNewswire/ — UnionPay International announced today a partnership with Lazada to enable the acceptance of UnionPay cards on Lazada app. This partnership aims to provide more payment options for shoppers especially the Thai community and also customers from neighbouring Southeast Asia countries, ultimately driving the number of local and international transactions on Lazada, the leading online shopping platform in the region. 

According to Michael Shang, Country Manager of UnionPay International Thailand, “UPI’s partnership with Lazada Thailand is a milestone that marks a significant expansion of convenience and choice for our valued customers. We are committed to enhancing the shopping journey, providing a wider array of payment options, and strengthening our presence in the e-commerce ecosystem. This partnership exemplifies our dedication to delivering solutions that cater to the evolving needs of our customers. This collaboration not only enhances the shopping experience for our customers but also contributes to the growth of Lazada’s customer base.”

To commemorate this partnership, exclusively for Thailand issued UnionPay credit cards, shoppers can enjoy discounts up to 1,000 baht per person starting today until 30th November 2023. 

Also, new users who bind their UnionPay card for the first time can enjoy the following:

  1. instant discount of 500 baht with a minimum spend of 1,000 baht for their first purchase;
  2. use the code “UPINEW23” to receive 10% discount (capped at 250 baht) with a minimum spend of 1,000 baht, for their subsequent 2 purchases.  


There will be other exciting offers from UnionPay that shoppers can look out for until February 2025 too. 

Dr. Werapong Goo, Chief Executive Officer, Lazada Thailand added, “At Lazada, one of our top priorities is to provide a superior online shopping experience, of which the integrated and inclusive financial services are the crucial part. With this partnership, UnionPay cardholders can transact securely and conveniently on Lazada platform as well as enjoy a variety of exclusive privileges. The collaboration also strengthens Lazada’s payment ecosystem in Thailand, enabling us to better serve a broader group of eCommerce shoppers.”

UnionPay has become a recognized and widely accepted payment brand among Thai merchants and residents. Almost all ATMs and merchant POS terminals in Thailand now support UnionPay cards. Based on the ever growing acceptance network, more and more local residents are applying and using UnionPay cards, and more than half of the top 10 banks in Thailand have issued UnionPay cards, with a cumulative scale of over 10 million cards.

About UnionPay International

UnionPay International (UPI) focuses on the international business of UnionPay, a global payment network that serves the world’s largest Cardholder base. With 181 countries and regions accepting UnionPay cards, as well as millions of merchants in 47 markets globally accepting UnionPay Quick Response (QR) Code, UnionPay is one of the fastest-growing payment networks in the world.

As a company with a global acceptance network and a wide range of world-class payment services, UnionPay is committed to providing access to value and secure payment solutions that are tailored to the needs of the local market, to enable choice and ease of payment for consumers and businesses alike.

In Southeast Asia, UPI has enabled ATM, POS acceptance, card issuance and e-wallets across all 10 countries. For more information on UnionPay, visit https://www.unionpayintl.com/en/ 

PR Newswire

Everest Group Names SS&C Blue Prism a Leader for Sixth Consecutive Year in RPA Products PEAK Matrix® 2023

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WINDSOR, Conn., Oct. 13, 2023 /PRNewswire/ — SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced SS&C Blue Prism has been named a Robotic Process Automation (RPA) Leader in the Everest Group Robotic Process Automation (RPA) Products PEAK Matrix® Assessment 2023.

“SS&C Blue Prism has reinforced its position as a Leader on Everest Group’s RPA Products PEAK Matrix® 2023. A strong market presence, depth and breadth of product functionalities, and continued investments toward offering an integrated intelligent automation platform contributed to this position,” said Amardeep Modi, Vice President at Everest Group. “Product support and training, interoperability, and scalability are some of the key strengths highlighted by its clients.”

This assessment analyzes the changing dynamics of the global RPA landscape and 24 technology providers across several key dimensions. The SS&C Blue Prism assessment included the analysis of client numbers, YoY growth, client feedback on value and satisfaction and the company’s breadth of coverage of industries and enterprise size segments.

“We’re thrilled SS&C Blue Prism has secured its position as a Leader for the sixth time on Everest Group’s RPA Products PEAK Matrix®,” said Mike Megaw, Global Head of IA, Risk, Regulatory and Data, SS&C Technologies. “Everest Group recognition is validation of our intelligent automation ecosystem’s significant business transformational value and innovation. This acknowledgment is a testament to how our team and partners – working together globally – ensure businesses become more connected by delivering the best possible products to our customers.”

The RPA Products PEAK Matrix® Assessment 2023 also measures SS&C Blue Prism’s commercial and sales model flexibility, progressiveness and client adoption of available commercial models as part of its ability to successfully deliver products.

SS&C Blue Prism digitizes operations across financial services, insurance, health and pharma, banking and more. Speak to an expert about SS&C Blue Prism’s intelligent automation offering.

About SS&C Technologies

SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 20,000 financial services and healthcare organizations, from the world’s largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology.

Additional information about SS&C (Nasdaq: SSNC) is available at www.ssctech.com.

Follow SS&C on Twitter, LinkedIn and Facebook.

PR Newswire

Rapyd Study: Nearly 50% of Singapore businesses express need for innovative fintech solutions to address financial challenges

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  • Major payment delays and high costs of cross-border transactions were listed as the main drivers for local companies to seek improved fintech solutions
  • Among those surveyed, 38% have listed payment digitization as a top priority, with another 29% listing it as one of the top priorities

SINGAPORE, Oct. 10, 2023 /PRNewswire/ — A recent study on B2B cross-border payments by global fintech leader Rapyd has revealed that nearly 1 in 2 businesses in Singapore expressed a strong need for innovative fintech solutions to tackle business concerns.

Despite the accelerated adoption of digital payments across businesses and consumers in recent years, there is a consensus among local businesses that fintech solutions can be further improved to better serve their specific needs. While innovations have been made within consumer payments, they have not been carried over to B2B transactions. Many Singapore businesses making B2B payments still rely on expensive wire transfers and slow bank transfers to make and receive payments overseas, hindering the efficiency of cross-border transactions.

In the latest report by Rapyd, titled “2023 State of B2B Cross-Border Payments in Singapore“, Rapyd dove into the payment preferences and obstacles of 100 B2B businesses in Singapore. The Singapore report is part of a larger global research study by Rapyd, which gathered insights from 715 business proprietors and payment decision-makers across key markets, including Brazil, Canada, Germany, Mexico, Singapore, the UK, and the US. The overarching objective of this research study was to assess the prevailing sentiments regarding market conditions, the cross-border payment complexities confronting B2B enterprises, and the potential role of fintech solutions in addressing these challenges.

Singapore businesses maintain confidence on global outlook

Singapore businesses have emerged as cautious optimists when it comes to their perceptions of market conditions. Approximately 60% of respondents from Singapore expressed confidence in prevailing market conditions, indicating a measured level of trust in their business environment.

Moreover, while the majority of the markets surveyed have listed inflation, increasing interest rates, and market volatility as top concerns, Singapore businesses have taken a different stance. They have rated market volatility and economic stability as the least troublesome, highlighting their confidence in Singapore’s position as a robust global business hub. Conversely, local enterprises have identified increasing interest rates (53%) and a reduction in incoming work (43%) as their primary concerns. This indicates that Singapore businesses are closely tracking financial developments and their potential impact on the demand for their products and services.

Figure 1: Rapyd: Business Concerns
Figure 1: Rapyd: Business Concerns

Payments take a toll: Singapore businesses reported biggest delays and costlier transactions

One of the ways for companies to increase their profits and tackle financial anxieties is by improving business efficiency and cutting down on operational expenses. Notably, payment delays have surfaced as a substantial operational hurdle experienced by businesses throughout the markets surveyed. Among the seven markets, Germany and Singapore reported the greatest payment delay. Singapore businesses reported a 2 to 10 days delay, and in many cases, even more than 10 days delay in sending or receiving payments (refer to Figure 2 below).

Figure 2: Rapyd - Delay in Cross-border payments
Figure 2: Rapyd – Delay in Cross-border payments

The delays could be attributed to the fact that a significant portion of Singapore enterprises still lean on traditional wire and bank transfers for making and receiving payments. Many businesses have deep-rooted relationships with traditional banking methods and, as a result, gravitate toward these long-standing practices. The resulting delays add complexities to cross-border business operations, impacting cash flow, supplier relationships, and overall business efficiency. Such delays underscore the critical need for efficient and reliable payment solutions to facilitate seamless cross-border transactions.

Further, the Rapyd research also highlighted that 43% of B2B companies in Singapore incur cross-border fees ranging from US$10 to US$25 per transaction. This rate is above the average observed across the surveyed markets, where approximately 36% of businesses face cross-border transaction fees within the same US$10 to US$25 range.

These elevated costs can hinder growth, limit expansion opportunities, and strain resources, posing a direct challenge to firms striving to capitalize on cross-border commerce and highlighting larger inefficiencies in the system.

Figure 3: Rapyd - Cross-border transaction fees
Figure 3: Rapyd – Cross-border transaction fees

48% of Singapore businesses hope innovative payment technology can solve their challenges 

A growing number of businesses in Singapore today realize the imperative for change. Digitization is no longer a luxury but an absolute necessity. Nearly half – 48% – of respondents from Singapore identified ‘Better Fintech Solutions’ as the paramount factor in addressing their most pressing business concerns. This percentage surpasses any other category in Singapore and demonstrates that B2B businesses in the country prioritize fintech as a way to solve business problems more than their counterparts in any other country surveyed.

Despite Singapore being one of the world’s most advanced payment markets, many B2B businesses have yet to adopt digital payments. This presents a valuable opportunity for these enterprises to collaborate with innovative fintech firms and embrace modern payment solutions to harness the full benefits of Real-Time Payment networks and streamline payment processes to enhance their operational efficiency.

Figure 4: Rapyd - Easing payment concerns
Figure 4: Rapyd – Easing payment concerns

Moreover, Singaporean businesses themselves are displaying a strong commitment to digitization, particularly for expediting payment processes. Approximately 38% of these businesses consider it a top priority, with an additional 29% identifying it as one of their primary objectives. This approach aligns with local government initiatives, which have introduced numerous schemes to encourage businesses to digitize and integrate financial technology into their operations.

Arik Shtilman, CEO, and co-founder of Rapyd, shared the company’s commitment to addressing evolving business needs through innovative fintech solutions. He mentioned, “Our latest B2B cross-border payment report highlights Singapore’s strong confidence in its business environment, while also showing a widespread desire for efficient and cost-effective fintech solutions. We understand how important it is to be efficient and adaptable in today’s ever-changing business world. With our recent addition of card acquiring services to our Fintech as a Service platform in Singapore, we’re doubling down on our promise to provide the innovative fintech solutions Singapore businesses are looking for that will empower them on their payment journey and help them handle payment complexities with confidence and ease.”

In September 2023, Rapyd expanded its offerings in Singapore by introducing a card acquiring solution, enhancing its comprehensive Fintech as a Service platform. This addition equips businesses with a unified and efficient platform for accepting a wide array of payment methods, including credit and debit cards, popular e-wallets such as ApplePay, GooglePay, and GrabPay, bank transfers through PayNow, and the ability to conduct international money transfers to over 190 countries via the extensive Rapyd Global Payment Network. Rapyd’s swift onboarding process and strong payment capabilities enable businesses to quickly access the market, enhance cost-effectiveness, and efficiently navigate complex business models.

About the Study (THE STATE OF B2B CROSS-BORDER PAYMENTS)

In 2023, Rapyd conducted a research study to understand the payment preferences and challenges faced by business-to-business cross-border companies in seven markets. The study includes responses from 715 business owners worldwide. The Singapore report focuses on insights from 100 B2B cross-border businesses located in Singapore. The survey, which was administered online, was targeted at individuals responsible for payment-related decisions within medium (50 to 499 employees) and large-scale enterprises (500 employees and over) spanning diverse verticals and industries.

For the Singapore report, please visit here.

For the full global report, please visit here.

About Rapyd

Rapyd lets you build bold. Liberate global commerce with all the tools your business needs to create payment, payout and fintech experiences everywhere. From Fortune 500s to ambitious business and technology upstarts, our payments network and powerful fintech platform make it easy to pay suppliers and get paid by customers – locally or internationally. With offices worldwide, including Tel Aviv, Dubai, London, Iceland, San Francisco, Miami, Hong Kong and Singapore, we know what it takes to make cross-border commerce as easy as being next door. Rapyd simplifies payments so you can focus on building your business. Get the tools to grow globally at www.rapyd.net. Follow: Blog, Insta, LinkedIn, Twitter.