Tag Archives: FNT

PR Newswire

Tonik enters consumer lending with a game-changing 15-minute Quick Loan

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MANILA, Philippines, Sept. 15, 2021 — Tonik, the Philippines’ first digital-only neobank, has launched a pioneering Quick Loan product on its platform. The launch of Quick Loan marks Tonik’s entry into the deeply underserved consumer lending market in the Philippines, in which it intends to establish itself as one of the market leaders. Tonik’s game-changing all-digital Quick Loan is designed to serve the vast unbanked and underbanked Filipino middle class with a quick and affordable bank credit proposition.

  • Mass Market Appeal. Tonik’s Quick Loan doesn’t require the client to have a prior credit history or a pre-existing bank account at another bank, relying instead on world-class alternative credit scoring technologies for credit decision.
  • Rapid Application and Credit Decision. The Quick Loan offers a market-leading rapid application path of under 15 minutes, based on an upload of only one ID and the latest pay slip. The credit decision is typically made within minutes through proprietary AI-driven underwriting.
  • Instant Disbursement. Once approved, the funds are instantly credited to the client’s Tonik Account. From there, the funds can be withdrawn through OTC partners Cebuana and MLhuillier, moved to client’s other bank or e-wallet account, or paid out through an ATM or merchant payment using the Tonik Debit Card.
  • Affordable and Convenient Repayment. By availing of up to 24 months loan duration, Quick Loan clients can comfortably spread up to P 50,000 of total loan principal across their monthly budgets. The clients can also set their own preferred monthly repayment dates, as well as save time and reduce their interest rate by linking their salary payroll ATM card.

Tonik enters consumer lending with a game-changing 15-minute Quick Loan
Tonik enters consumer lending with a game-changing 15-minute Quick Loan

"Traditional banks require the applicant to have credit history to approve a loan while 80%+ of the Filipinos don’t have any credit history. As a result, the Filipino consumers are forced to borrow from friends and family or from payday loan providers at very high interest. This damages their long-term financial stability and undermines their future, and we think this is unfair. We estimate that there is USD 100 billion of potential market for consumer loans in the Philippines, which is currently 90% unserved. Our plan is to change this balance and make affordable loans accessible for majority of Filipinos," said Greg Krasnov, CEO and Founder of Tonik.

"We have already attracted close to USD 80 million of consumer deposits since our launch six months ago. This has validated our ability to rapidly scale our resources for lending, and therefore enables us to grow our loan book fast and without any reliance on third party wholesale funding. So, the Quick Loan is only the first in a range of all-digital consumer lending products that we will introduce over the coming months. Our plan is to use advanced digital technology to help solve financial inclusion in the country," said Krasnov.

Tonik is supervised by the Bangko Sentral ng Pilipinas (BSP) through its own digital bank license, and deposits are insured by the Philippine Deposit Insurance Corporation (PDIC).  Its unique cloud-based solution is powered by global financial technology leaders such as Mastercard, Amazon Web Services, and Finastra.

Learn more about Quick Loan and other updates from Tonik via https://tonikbank.com.

About Tonik

Tonik is the first digital-only neobank in the Philippines, providing a full stack of Loan, Deposit, and Payment products to consumers on a highly secure digital banking platform. The neobank operates on the basis of its own bank license issued by the Bangko Sentral ng Pilipinas. Tonik is led by a team of retail finance veterans who have previously built and scaled multiple retail banks and fintechs across the global emerging markets.  It is backed by top international venture capital funds.  Tonik operates out of hubs in Singapore (HQ), Manila, Chennai, and Kyiv.  

Related Links :

https://tonikbank.com

PR Newswire

Zoloz Receives 2021 IDC FinTech Rankings Real Results Award for its Work Supporting Financial Inclusion Using e-KYC Technology

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SINGAPORE, Sept. 14, 2021 — Zoloz, an electronic Know Your Customer (e-KYC) technology provider, has received the 2021 IDC FinTech Rankings Real Results Award for its work enabling users of bKash, Bangladesh’s largest mobile financial service provider, to open digital wallet accounts remotely using biometrics. Zoloz was the winner of the Digital Trust & Stewardship category and tied as overall winner of the Real Results Awards.

Now in their seventh year, the IDC FinTech Rankings Real Results Awards recognize global IT providers that have enabled genuine, measurable, and future-enabling change in the global financial services industry. These providers supply the technological backbone of the financial services industry, an industry in which IDC Financial Insights forecasts IT spending worldwide to be USD 590 billion by 2025.

"2020 proved to be a year that tested the industry’s ability to stay resilient in the face of challenges on multiple fronts. This year’s IDC FinTech Rankings Real Results program describes examples of financial institutions and technology providers partnering to overcome those challenges in real, substantive ways," said Jerry Silva, vice president at IDC Financial Insights. "IDC congratulates the vendors that stepped up to the demands of an unusual year of disruption and helped financial organizations get back to the business of innovation."

"We are honored to be a winner of the 2021 IDC FinTech Rankings Real Results Awards," said Chen Jidong, the general manager of Zoloz. "With innovative technologies like AI, risk management and biometrics, Zoloz’s e-KYC solution significantly increases financial inclusion for underbanked communities in remote identification areas by allowing financial institutions to complete due diligence processes without the need for physical verification."

Almost half of Bangladeshi adults were unbanked just a few years ago due to a lack of a trusted ID verification system. Zoloz’s integration of e-KYC technology allowed previously unbanked families to verify their identity with ease. On average, it reduced the user process from several days to just 3 minutes and increased the verification success rate from 65% to over 90%.

Zoloz’s fully automated e-KYC solution has helped bKash onboard over 23 million e-wallet users in Bangladesh, taking the country one step closer to its goal of total financial inclusion by 2024. Amid the outbreak of COVID-19, Zoloz’s e-KYC solution helped the government of Bangladesh efficiently distribute aid via bKash to over 5 million families who lost their primary source of income due to the pandemic.

"Zoloz’s bKash project is an exemplary case of how innovation has responded to the business need with effective and measurable results. The inclusive finance aspect of it will have profound impact of how digitally enabled financial services can be expanded to those underdeveloped markets in need," said Eric Fei Gao, director of IDC Financial Insights.

So far, Zoloz’s e-KYC technology has been selected for use in e-wallets including GCash in the Philippines, TnGD in Malaysia, Dana in Indonesia, TrueMoney in Thailand and banks including Mandiri Bank in Indonesia and Maybank in Malaysia, having served more than 100 million users in total across the world.

About Zoloz

Zoloz combines industry-leading technologies including advanced biometrics, spoof detection, Optical Character Recognition and risk management to provide a comprehensive electronic Know Your Customer (e-KYC) technology solution that protects, connects and enhances user identity. Its technology meets the most stringent international standard for biometric and privacy protections technologies.

To learn more, please visit: https://www.zoloz.com/

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https://www.zoloz.com

PR Newswire

Aligning Advanced SPM Solutions with Business Objectives Creates High-performing Sales Teams

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SPM solutions can aid enterprises in streamlining and improving sales performance, directly impacting the bottom line, finds Frost & Sullivan

SANTA CLARA, Calif., Sept. 14, 2021 — The twin tasks of tracking the performance of sales representatives and ensuring accurate compensation have become more challenging than usual due to remote working. In this scenario, technologies that offer transparent sales performance management (SPM) can be game-changers. Novel SPM software solutions that leverage AI and machine learning to enable administrator and design, executive and finance, and payee and manager functions can directly influence bottom lines.

Frost & Sullivan’s latest Executive Brief, SPM/ICM Solution Providers — "What Their Clients Are Saying About Them!" discusses the value of SPM solution capabilities and how solution providers can leverage them to best meet their client’s needs. It also explores the productivity gains and pitfalls to avoid when deploying sales technologies.

To download the complimentary Executive Brief, please visit: http://frost.ly/61j.

"Having a top-tier SPM platform is important, but it is even more important to analyze the organization’s unique business processes and needs before purchasing and implementing any SPM solution," said John Ruggles, Senior Vice President and Americas Regional Leader, Frost & Sullivan. "Working with a specialist in the field that can guide the organization through the entire process—from selection to implementation to training—can make all the difference in sales success, both internally and externally."

"We work closely with our clients to understand their challenges and goals, and ultimately help develop strategies for optimizing their SPM programs," noted Robert Blohm, Senior Partner at OpenSymmetry. "Our proprietary model helps clients understand where they can make improvements through the use of technology and/or processes to better align their SPM programs with their sales goals."

Some additional benefits of partnering with an SPM expert include:

  • Identifying specific sales platform needs and determining the framework that can be best integrated into the organization.
  • Receiving guidance through the research and vendor selection process and implementing the best-fit tools.
  • Aligning both core and advanced SPM platforms and functional capabilities with the organization’s existing infrastructures and tools.
  • Gaining access to the best technology and actionable insights.
  • Achieving greater operational efficiencies and better sales results.

About Frost & Sullivan
For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

Media Contact:
Priya George,
Corporate Communications, Frost & Sullivan
E: priyag@frost.com

http://ww2.frost.com

About OpenSymmetry
OpenSymmetry enables clients to achieve greater operational efficiency and get better sales results.  OpenSymmetry is a global consulting company specializing in the planning, implementation, and optimization of industry leading technology suppliers of sales performance management solutions.

Media Contact:
Christina Mennen
Marketing Director, OpenSymmetry
E: christina.mennen@opensymmetry.com

www.opensymmetry.com 

 

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PR Newswire

ATFX Connect Continues to Report Strong Volume Growth in 2021

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SHANGHAI, Sept. 13, 2021 — ATFX Connect, the institutional arm of ATFX, focusing on Hedge Funds, Family Offices, B2B, Asset Managers, HNW’s, and spread betting accounts has reported positive trend growth for its trading volumes for Q1 2021 and Q2 2021.

ATFX Connect, announced that its volumes between Q1 2021 and Q2 2021 have seen quarterly growth of over 30%. In addition to this, ATFX Connect continues to expand its institutional business and market share by offering clients a broad range of financial instruments.

ATFX Connect supports institutional clients by providing them with Direct Market access to liquidity from T1 bank and non-bank providers in Spot FX, Precious Metals and CFDs. In addition, the flexible infrastructure enables ATFX to manage aggregation, pricing and allows integration with any third-party platform.

ATFX Connect’s Agency business has recently added to its global liquidity offering with the introduction of a server located in NY4. In addition to our current LD4 server, ATFX clients are now able to access a broader and deeper pool of liquidity during both the London afternoon and US trading session until market close.

The additional server has seen ATFX partner with a number of new LPs who have a strong presence during US trading hours. The support of these relationships has helped ATFX attract several new global clients who have trading desks covering the NYK session and has also resulted in a healthy increase in volumes from our existing clients wishing to trade with ATFX outside of London hours. As with our current offering in LD4, ATFX’s technology allows us to tailor our aggregated price streams from both servers to meet the requirements of each client helping them to execute business within a competitive and consistent pricing environment.

ATFX continues to expand its team and recently hired Steve Whittet, a well-known and highly respected figure in the FX Market. Steve’s hire is another signal for ATFX Connect’s ambition to expand its geographical footprint across Asia, Europe, Latin America, and the Middle East and enhance its product offering. Additionally, ATFX Connect continues to search for new team members to speed up its growth in other territories.

ATFX Connect

Back in 2019, ATFX stepped into the Institutional arena to launch its Multi-Access platform ATFX Connect. The management’s vision was to expand the broker’s global presence and provide award-winning liquidity and customer service to the institutional community. With the focus on the professional investor, the ATFX Connect platform is designed to provide an efficient automated trading venue that delivers tailored liquidity solutions to Hedge Funds, Asset Managers, Brokers, Private Banks, and other financial institutions.

ATFX

ATFX is an award-winning FX/CFD broker with a global presence offering customer support in over 15 languages. With over 200 tradable financial assets, including forex, cryptocurrency, precious metals, energy, indices, and shares traded as CFDs, ATFX is regulated by the UK’s Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, the Financial Services Commission (FSC) in Mauritius, and the Financial Services Authority (FSA) in Saint Vincent and the Grenadines.

PR Newswire

Fusion NFT™ – a new way of investing in art and collectibles?

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SINGAPORE, Sept. 12, 2021 — Not so long ago, digital artists whose artworks were posted all over social media, were frustrated that they were not earning much income from their works irrespective of the number of likes, comments and shares they got.  On the other hand, art connoisseurs/collectors have been limited in how they can trade their art pieces as auction houses where predominantly the only avenue for them to sell their collections. 

With the usage of blockchain technology, NFTs (non-fungible tokens) has completely changed how art and collectibles can be bought and sold. Through NFTs, artists now have a new way to monetise their art, collectors can access a more diversified range of collectibles and investors can have access a wider pool of buyers.

While there has been news with respect to the growing interests in NFTs, this strong interest was also seen during the recent inaugural Coinllectibles™️ Fusion NFT™️ on OKEx NFT marketplace.  Within the first day of the launch, an investor paid US$100,000 (28ETH) for the Coinllectibles™️ Fusion NFT™️ Item #001 – a pair of heritage ceramics, which was almost twice the item’s valuation price.  The investor immediately placed the piece out in the secondary market and resold it at 150,000 USDT, successfully making a US$50,000 profit. The new owner then resold the iconic piece for 250,000 USDT and made a profit of about US$100,000. The collectible is currently on sale for sale for 289,000 USDT (https://www.okex.com/defi/nft/markets/detail?id=29978). As a whole, all the Fusion NFT™️ were sold out during the launch and Coinllectibles™️ saw a total sales turnover of more than US$600,000 during the first 4 days. 

Observing this development, Joseph Morton from Equity.Guru commented that this could be a "game of greater fool hot potato" (https://equity.guru/2021/09/10/this-week-in-crypto-standard-regulation-edition/). While that may be the case for regular NFTs, this article takes a look at how different Fusion NFT™️ is and how Coinllectibles™️, a fully owned subsidiary of Cosmos Group Holdings Inc. (OTC: COSG), aims to add value to the collectibles market.

1.         Fusion NFTs™️ – Buyers get both the digital tokens and the physical collectible

NFTs are characterised by its feature of tokenizing items with unique blockchain-based ID tags.  Unlike regular NFTs, where buyers only get a digital asset, buyers of Fusion NFTs™️ get both the digital non-fungible tokens as well as the physical art piece.  In this way, Fusion NFT™️  buyers not only get to buy and sell the digital non-fungible tokens online, they are also able to enjoy the items in the real world. 

2.         Ownership security and provenance

To make the buying and selling of Fusion NFTs™️ secure, Coinllectibles™️ has incorporated state-of-the-art 3D imaging technology to authenticate as well as provide provenance for the collectibles. This is akin to using the facial recognition function to unlock a handphone, the 3D image that is contained within the NFT will be able to authenticate ownership as well as whether the item is genuine. As added security, Coinllectibles™️ also embeds microchips to the collectible items.  Apart from all these technological protection, Fusion NFTs™️ also consists of robust documentation to provide owners with legal protection as well. All these are put together to holistically protect the interest of stakeholders, that will ultimately lead to a more secured buying/selling experience online. 

3.         More than art and collectibles collection

Beyond the buying and selling of NFTs, Coinllectibles™️ aim to bring greater enjoyment to our Fusion NFT™️ owners.  Firstly, Fusion NFTs™️ owners will get to decide between taking possession of the physical collectibles or putting the items up on exhibit in the world’s first gallery for Fusion NFTs™️ at K11 MUSEA in Hong Kong. Secondly, Coinllectibles™️ is exploring the possibility of working with game producers so that Fusion NFT™️ owners will also get to enjoy the items in an online environment. While some of these initiatives are still work-in-progress, Coinllectibles™️ believes that all these additional benefits help differentiate Fusion NFTs™️ from the rest.

In conclusion, not only are NFTs attracting the attention from artists and collectors, investors are also eyeing the extensive market opportunity of this crypto art and collectibles trade. Based on Statista, the total number of NFT from Apr 2021 to Aug 2021 was more than 263,000 – which approximates to 1 NFT sold each minute. All these showcase the immense potential and profitability of NFTs being traded in the primary and secondary market.  We are still in the early days. While it is anyone’s guess how the NFT market will become, the prospects for now is extremely bright.

To keep up with the launch of Fusion NFTs™️ projects and news, please visit www.Coinllectibles.Art or join the Coinllectibles™ Telegram Channel at https://t.me/Coinllectibles.

About Cosmos Group Holdings Inc.

Cosmos Group Holdings Inc. (OTC: COSG) was formerly a television network and multimedia information and distribution company focused on serving the homeland security and emergency preparedness industry. The group’s future will focus in the development of blockchain NFT technologies and platforms to facilitate the global trading of arts and collectibles.

About the Company – Coinllectibles™️

Coinllectibles™️ is an ACT (Arts and Collectibles Technology) company, which is redefining how the world thinks about art and collectible ownership in the digital age. 

Their minted curated Fusion NFTs™️, capture all the rights and independent valuation and ownership of physical arts and collectibles securely underpinned by smart contracts stored on the blockchain.

Coinllectibles™️ Fusion NFTs™️ bridge the physical and virtual dimensions of the arts and collectibles market, providing a pleasurable, transparent, and frictionless experience to customers from all walks of life.

About Coinllectibles™️ Fusion NFT™️

Coinllectibles™️ prides the Fusion NFT™️ as the industry "Gold Standard".  Being a Gold Standard, a Fusion NFT contains the following on the Inter Planetary File System (IPFS) – (1) a sale and purchase agreement reflecting the purchase, by the person minting the Fusion NFT™️, of the underlying asset at a fair value with all rights and restrictions clearly detailed, (2) bailment terms governing the rights to possession whilst the underlying asset remains with Coinllectibles™️, (3) a transfer deed reflecting the transfer of the ownership of the underlying asset (together with all rights and restrictions) by the transferor to the holder of the Fusion NFT™️, (4) ownership title deed written into the description of the Fusion NFT™️ and (5) the unequivocal identification file of the underlying asset, whose ownership is reflected in the title deed represented by the Fusion NFT™️.

PR Newswire

TradeUP Acquisition Corp. Announces the Separate Trading of its Common Stock and Warrants, Commencing September 7, 2021

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NEW YORK, Sept. 3, 2021 — TradeUP Acquisition Corp. (NASDAQ: UPTDU) ("TradeUP Acquisition" or the "Company") announced today that, commencing September 7, 2021, holders of the Units (the "Units") sold in the Company’s initial public offering ("IPO") and the over-allotment of 4,430,000 Units may elect to separately trade the shares of common stock and warrants included in the Units. Any Units not separated will continue to trade on the NASDAQ Capital Market ("NASDAQ") under the symbol "UPTDU". Any underlying common stock and warrants that are separated will trade on the NASDAQ under the symbols "UPTD" and "UPTDW," respectively. No fractional warrants will be issued upon separation of the Units and only whole warrants will trade. Holders of Units will need to have their brokers contact the Company’s transfer agent, VStock Transfer, LLC, in order to separate the holders’ Units into common stock and warrants.

The Units were initially offered by the Company in an underwritten offering. US Tiger Securities, Inc. acted as the lead book running manager in the offering. EF Hutton, division of Benchmark Investments, LLC and R.F. Lafferty & Co., Inc. acted as joint book running managers. R.F. Lafferty & Co., Inc. also acted as a qualified independent underwriter.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission ("SEC") and became effective on July 14, 2021. The offering was made only by means of a prospectus, copies of which may be obtained, when available, by contacting US Tiger Securities, Inc., 437 Madison Avenue, 27th Floor, New York, New York 10022; email: IB@ustigersecurities.com. Copies of the registration statement can be accessed through the SEC’s website at www.sec.gov.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About TradeUP Acquisition Corp.

TradeUP Acquisition Corp. is a newly organized blank check company incorporated as a Delaware corporation formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company’s efforts to identify a prospective target business will not be limited to a particular industry or geographic region, although the Company intends to focus a search for a target business in the technology industry.

Forward Looking Statements

This press release may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical fact included in this press release are forward-looking statements. Forward-looking statements are subject to numerous conditions, risks and changes in circumstances, many of which are beyond the control of the Company, including those set forth in the "Risk Factors" section of the Company’s registration statement, as amended from time to time, and prospectus for the offering filed with the SEC. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

 

PR Newswire

Future FinTech Signs Term Sheet to Acquire Supply Chain Software Business

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NEW YORK, Sept. 3, 2021 — Future FinTech Group Inc. (NASDAQ: FTFT) ("hereinafter referred to as "Future FinTech", "FTFT" or "the Company"), a leading blockchain-based e-commerce business and a fintech service provider, announced today that on August 30, 2021, the Company signed an equity acquisition term sheet (the "Term Sheet") to acquire 51% of the equity of Shanghai Dianfa Internet Technology Co., Ltd. ("Dianfa Technology"). The Term Sheet represents terms for a proposed transaction subject to definitive documentation and is non-binding except for its ‘Exclusive Period’ and ‘Confidentiality’; and ‘Governing Law’ sections.

According to the Term Sheet, the Company plans to acquire 51% of the equity of Dianfa Technology at a purchase price of RMB 17,850,000 (approximately US$ 2,762,730) of which RMB 6,000,000 (approximately US$ 928,650) will be paid in cash as a capital investment in Dianfa Technology and RMB 11,850,000 (approximately US$ 1,834,080) will be paid in shares of FTFT common stock to the selling shareholders of Dianfa Technology. The acquisition will be subject to legal and financial due diligence on the part of the Company.

Through this acquisition, FTFT plans to enter the key supply chain finance business of small and medium sized enterprises ("SMEs") and the microfinance sector since these entities are often not able to access bank loans as larger businesses can in China. As this represents a vast number of enterprises that have ongoing capital needs, the Company plans upon developing a financial ecosystem to include financial and lending institutions, merchants, retail businesses and other supply side services, embedded with financial technology and communications, to create a highly evolved and efficient platform to optimize capital flows for SMEs and microfinance companies.

Dianfa Technology provides digital management services and high-frequency small loan assistance services to micro, small and medium-sized businesses and their suppliers based on its innovative smart retail SaaS supply chain system. Dianfa Technology uses financial technology capabilities such as mobile Internet, big data, artificial intelligence, cloud computing and blockchain analytics to help financial institutions provide low interest collateral-free revolving credit products and services to micro and small merchants across the entire retail industry business chain to meet their funding needs. These capital needs are often of a ‘short, small, frequent and urgent’ variety and are essential in terms of supporting the operating needs of microbusinesses and small merchants.

Shanchun Huang, CEO of Future FinTech, commented, "We estimate that there are millions of microbusinesses in China which represents a tremendous opportunity for digital management, lending and payment processing companies such as Dianfa Technology. Further, we anticipate that this potential acquisition will enhance our competitive advantages as well as create important synergies with our existing capabilities in supply chain finance."

"In addition, we believe that FTFT’s strong blockchain development capabilities and rich application experience will enable us to evolve Dianfa Technology’s current smart retail SaaS supply chain system to a next business model architecture. With our increasing geographical reach, we foresee the potential to realize decentralized high-frequency small transactions for small and medium sized businesses across the globe," continued CEO Huang.

"Our goal is to become a leading financial technology company and provide an array of individual and business customers with digital inclusive financial services and in doing so, to maximize returns to our shareholders," concluded CEO Huang.

About Future FinTech Group Inc.

Future FinTech Group Inc. ("Future FinTech", "FTFT" or the "Company") is a leading blockchain e-commerce company and a service provider for financial technology incorporated in Florida. The Company’s operations include a blockchain-based online shopping mall platform, Chain Cloud Mall ("CCM"), a cross-border e-commerce platform (NONOGIRL), an incubator for blockchain based application projects and financial services for the supply chain industry. The Company is also engaged in the development of blockchain based e-Commerce technology as well as financial technology. For more information, please visit http://ftft.com/.

Safe Harbor Statement

Certain of the statements made in this press release are "forward-looking statements" within the meaning and protections of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as "may," "will," "anticipate," "assume," "should," "indicate," "would," "believe," "contemplate," "expect," "estimate," "continue," "plan," "point to," "project," "could," "intend," "target" and other similar words and expressions of the future.

All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our annual report on Form 10-K for the year ended December 31, 2020 and our other reports and filings with SEC. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC’s Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.

PR Newswire

NDB initiates membership expansion, extends global outreach

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Development bank established by BRICS welcomes the admission of UAE, Uruguay and Bangladesh as new members

SHANGHAI, Sept. 2, 2021 — The New Development Bank (NDB) – established by BRICS (Brazil, Russia, India, China and South Africa) in 2015 – has initiated its membership expansion.

NDB’s Board of Governors authorized the Bank to conduct formal negotiations with prospective members in late 2020. After a round of successful negotiations, NDB approved the admission of the United Arab Emirates (UAE), Uruguay and Bangladesh as its first new member countries.

"We are delighted to welcome the UAE, Uruguay and Bangladesh to the NDB family. New members will have in NDB a platform to foster their cooperation in infrastructure and sustainable development", said Mr. Marcos Troyjo, President of NDB. "We will continue to expand the Bank’s membership in a gradual and balanced manner".

"The United Arab Emirates’ membership in the New Development Bank represents a new step to enhance the role of the UAE economy on the global stage, especially in light of the great capabilities and expertise that the country possesses in supporting infrastructure projects and sustainable development. This monumental step would not have been achieved without the vision and directions of the UAE leadership who believe in the importance of supporting development projects around the world especially in the emerging economies", said H.E. Obaid Humaid Al Tayer, Minister of State for Financial Affairs of the UAE.  

"Uruguay sees in the NDB a great opportunity to harness cooperation with its member countries, aiming to achieve stronger international integration in trade and cross-border investment flows", said H.E. Azucena Arbeleche, Minister of Economy and Finance of Uruguay.

"Membership of Bangladesh to NDB has paved way for a new partnership at a momentous time of 50th anniversary of our independence. Membership in the NDB is an important step forward in meeting the development vision of our Hon’ble Prime Minister, Sheikh Hasina. We look forward to working closely with NDB to build together a prosperous and equitable world for our next generation as dreamt by our Father of the Nation Bangabandhu Sheikh Mujibur Rahman", said Hon. A H M Mustafa Kamal, Minister of Finance of Bangladesh.

Once admitted, a country’s membership to NDB becomes effective when it completes its domestic processes and deposits the instrument of accession.

Since the beginning of its operations, NDB approved about 80 projects in all of its members, totaling a portfolio of US$ 30 billion. Projects in areas such as transport, water and sanitation, clean energy, digital infrastructure, social infrastructure and urban development are within the scope of the Bank.

NDB’s membership expansion is in line with the Bank’s strategy to be positioned as the premier development institution for emerging economies.

Background information

NDB was established by Brazil, Russia, India, China and South Africa to mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries, complementing the existing efforts of multilateral and regional financial institutions for global growth and development. NDB has an authorized capital of US$ 100 billion, which is open for subscription by members of the United Nations.

 

PR Newswire

GCash cements fintech leadership and innovation thrust in the Philippines

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MANILA, Philippines, Aug. 30, 2021 — GCash, the number 1 mobile wallet in the Philippines, continues to be a rising star in Asia as it sets the bar higher for fintech innovation in the region. The company achieved unprecedented growth as it saw an exponential increase in its number of users from 20 million in January 2020 to 46 million in June 2021. The app also had over 13 million log-ins per day, peaking at almost 15 million in the second quarter of 2021.

GCash served as a lifeline for millions of Filipinos during the pandemic as users were able to perform various digital financial payments and solutions nationwide
GCash served as a lifeline for millions of Filipinos during the pandemic as users were able to perform various digital financial payments and solutions nationwide

 

GCash is the undisputed mobile wallet in the Philippines and continues to strengthen its vision to promote financial inclusion for all
GCash is the undisputed mobile wallet in the Philippines and continues to strengthen its vision to promote financial inclusion for all

 

This year, GCash processed an average of PHP 300 billion in monthly transactions, and is on track in breaching its PHP 3 trillion Gross Transaction Value (GTV) target. The company boasts of its wide network of more than 2.5 million merchant partners and social sellers via its QR and P2P features, enabling the app to cater to a diverse set of stakeholders in the country. As one out of every 3 Filipinos is now using the app, GCash sets its eyes on achieving more game changing milestones to uplift the lives of many and contribute to building an even stronger and more robust Philippine economy.

With its clear vision of promoting financial inclusion for all, GCash has quickly adapted to the needs of the Filipino people by being a digital payment essential for individuals and entrepreneurs, especially during the pandemic. The company has launched trailblazing products and programs to reach out to more sectors in the country, including underserved and vulnerable groups like overseas workers, the youth, small businesses and even market vendors and cab/tricycle drivers. The top mobile wallet company worked with the Philippine government last year and became its financial aid tool for communities affected by COVID 19, disbursing over P16 billion to more than 2 million Filipinos. It was likewise able to raise over P40 million in donations via digital bayanihan or resource mobilisation, helping at least 3 million Filipinos impacted by typhoons and other calamities.

A fast-rising regional fintech brand

The fintech brand was recently included in the Top 100 Brands in the Philippines, according to Campaign Asia-Pacific and NielsenIQ. GCash is also one of Asia’s top 1,000 brands this 2021.

Asia’s Top 1000 Brands is a consumer opinion survey across 14 markets in Asia-Pacific and measures brand preference in 15 product/service categories. It shows brands that are succeeding with their marketing and brand-building efforts and reveals the favorite brands among consumers. This year’s study saw the changing consumer behavior among brands and their increasing digital services.

"We are honored to be part of the top brands in the Philippines and in Asia. This award further inspires us to continue with our mission to empower as many Filipinos as possible by giving them access to digital financial solutions that can make their lives better and more convenient especially during this pandemic," said Martha Sazon, President and CEO of GCash.

No other fintech brand made it to the top 50 of the prestigious list, where the ranking of GCash rose from the previous year’s 51st spot to this 24th in the country in 2021.  Among the high-ranking brands in the list are Samsung, Apple, LG, Sony, Panasonic, Nike, Nestle, Google, Colgate, and Starbucks.

Solidifying customer experience through value-adding services

GCash provides customers with an easy and secure cashless payment platform through digital products and services like free money transfers from user to user, frictionless bank transfers, and bills payments. The mobile wallet company also offers businesses, especially MSMEs, a contactless way to accept payment for goods through the use of QR codes and its P2P platform, which has empowered over 2.5 million GCash merchants and social sellers.

Currently, a third of GCash’s monthly active users utilize at least one of the app’s digital products like GCredit, GSave, GInvest, or GInsure. GCash provides customers easy access to a pre-approved credit line to pay for bills or QR transactions with GCredit, safely deposit money with GSave, easily invest in a market fund with GInvest, and buy essentials on GLife.  With the health risks of the pandemic, GCash also offers customers  COVID-19 health insurance for as low as P39 (~USD 0.78) a month via GInsure.

"We are glad to see that GCash has become an extension of the Filipino digital life everyday. It is our goal to democratize access to financial services because everyone deserves to have ways to protect and grow their money, especially during these difficult times," said Martha Sazon, GCash President and CEO.

GCash feted as outstanding fintech company promoting nation building

GCash was recently named as an "Outstanding Partner" by the Bangko Sentral ng Pilipinas (BSP) – the Central Bank of the Philippines, at the agency’s 2021 Stakeholders Appreciation Ceremony. The recognition is for GCash’s continued support and commitment to deliver innovative financial solutions for all Filipinos, especially the unbanked and underbanked segments. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno, in a recent webinar, described his vision for the country becoming a digital-heavy, cash-light society to help achieve inclusive growth. "50% or half of all transactions should be digital by 2023, and 70% of Filipino adults should have formal bank accounts by 2023," Governor Diokno said.

GCash also garnered two awards from the prestigious Asian Banker Awards 2021, and was the sole Philippine fintech company to do so. It won awards for the "Best Financial Inclusion Initiative/Application" for its Social Amelioration Program together with the country’s Department of Social Welfare and Development (DSWD), and "Best Digital Brand Campaign" for its CSR response to COVID-19, further solidifying the company as the e-wallet app in the country.

GCash continues to empower more Filipinos everyday as it strengthens its "One with the Nation" corporate social responsibility program employing various initiatives including NGO partnerships, programs on disaster response and environmental stewardship, as well as grassroots finlit education campaigns nationwide.

Many Filipinos have come to rely on GCash for their daily cashless payment transactions, helping sustain the economy during the pandemic and propelling the mobile wallet to becoming one of the most respected and widely used brands in the Philippines today.

According to Visa’s latest Consumer Payment Attitudes study, Filipinos using digital commerce platforms like GCash helped boost the usage of digital payments in the country. It was also expected that it will continue to grow as more Filipinos appreciate the benefits of contactless payments like GCash during the pandemic.

For more information, visit www.gcash.com. For partnerships and sustainability initiatives, please email chito.maniago@mynt.xyz.

About GCash

GCash (G-Xchange, Inc.) is the Financial App in the Philippines. Through the GCash App, customers can easily purchase prepaid airtime; pay bills at over 600 partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 2.5M partner merchants and social sellers; and get access to savings, credit, insurance and invest money all at the convenience of their smartphones. GCash is a wholly-owned subsidiary of Mynt (Globe Fintech Innovations, Inc.) since 2015.

GCash was recognized by The Asian Banker (TAB) in 2021 for its outstanding digital financial inclusion programs impacting more than 46 million Filipinos in the country today.

For more information, please contact:
Chito Maniago
Vice President, Corporate Communications and Public Affairs
GCash
Email Address: corpcomm@mynt.xyz │ Facebook: http://www.facebook.com/gcashofficial  

PR Newswire

CLPS Incorporation Announces Signing of Framework Agreement with A China A-Share Company to Develop Financial IT Services in Domestic Market

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HONG KONG, Aug. 27, 2021 — CLPS Incorporation (Nasdaq: CLPS) ("CLPS" or "the Company"), today announced that, through its majority-owned subsidiary, JAJI (Shanghai) Co., Ltd. ("JAJI"), it has entered into a framework agreement (the "Agreement") with an A-share listed company ("the Client"), which provides financial information software products and integrated services. Pursuant to the Agreement, CLPS and the Client will leverage their respective industry expertise in financial IT services to expand client base and establish a common ground in identifying the demand for IT talent and technology requirement from the financial institutions.

Fintech industry is one of the key drivers in China’s economic growth. Despite the impact of COVID-19, the demand for IT services in the fintech industry remains robust, and it is forecasted that this trend will continue going forward. The cooperation with the Client aims to further streamline CLPS’s key business, the IT consulting services, with focus in the banking sector. CLPS and the Client will join forces to strengthen research and development capability and improve the competitiveness of IT service deliverables.

Mr. Oscar Yuan, General Manager of JAJI, said, "Our cooperation with the Client signifies the recognition of our competitive advantages in the financial IT services. We hope that this initial step will translate into more cooperation in the future, with the purpose of providing broader brand exposure and developing an industry-recognized financial IT services."

Mr. Henry Li, Chief Operating Officer of CLPS, said, "We are very pleased to start a new chapter of cooperation with the Client. While we actively implement our global expansion strategy, we also focus on strengthening our core competencies, further improving the margin of our IT consulting services revenue, and creating more business opportunities that will serve as engines for the Company’s growth."

About CLPS Incorporation

Headquartered in Hong Kong, CLPS Incorporation (the "Company") (Nasdaq: CLPS) is a global leading information technology ("IT") consulting and solutions service provider focusing on the banking, insurance, and financial service sectors. The Company serves as an IT solutions provider to a growing network of clients in the global financial service industry, including large financial institutions in the US, Europe, Australia, Southeast Asia and Hong Kong SAR, and their PRC-based IT centers. The Company maintains 18 delivery and/or research & development centers to serve different customers in various geographic locations. Mainland China centers are located in Shanghai, Beijing, Dalian, Tianjin, Baoding, Xi’an, Chengdu, Guangzhou, Shenzhen, Hangzhou, and Hainan. The remaining seven global centers are located in Hong Kong SAR, USA, Japan, Singapore, Malaysia, Australia, and India. For further information regarding the Company, please visit: https://ir.clpsglobal.com/, or follow CLPS on Facebook, LinkedIn, and Twitter.

Forward-Looking Statements

Certain of the statements made in this press release are "forward-looking statements" within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements with respect to the Company’s beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance. Known and unknown risks, uncertainties and other factors, which may be beyond the Company’s control, may cause the actual results and performance of the Company to be materially different from such forward-looking statements. All such statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties related to the Company’s expectations of the Company’s future growth, performance and results of operations, the Company’s ability to capitalize on various commercial, M&A, technology and other related opportunities and initiatives, as well as the risks and uncertainties described in the Company’s most recently filed SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC’s Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.

Contact:

CLPS Incorporation
Rhon Galicha
Investor Relations Office 
Phone: +86-182-2192-5378
Email: ir@clpsglobal.com

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