A Brief History of Currency Exchange

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Currency exchange began with bartering, people would exchange goods or a service that they could offer, for goods or a service that they required. However, problems arose with this system, when people did not want what the other person had to offer. To solve this problem, a commodity based money system was invented. Using basic items that everyone used on a daily basis as currency.Due to the cumbersome and also often perishable nature of commodity money an alternative was needed. Around this time metal objects started to be utilised.

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FINANCIAL MANAGEMENT

4 Ways CFOs Can Prepare for a Dynamic New Normal

Article | June 24, 2022

Before the pandemic, CFOs associated resilience and organizational agility with the ability to anticipate and adapt to changing consumer demands and experiences. However, the pandemic completely overhauled corporate dynamics by disrupting supply chains, changing consumer patterns, and encouraging a remote way of working. The WNS Global CFO Survey 2020 showed that many CFOs are looking for strategic ways to get ahead of these challenges. Here are four ways that CFOs can refocus to respond to the new dynamic normal. Reinforce the Supply Chain Global supply networks have been impacted by COVID-19, prompting many firms to rethink their procurement practices. The WNSsurvey indicates that over 32% of CFOs rank the continuity of theirsupply chain as one of their three most significantchallenges. The primary difficulty facing the manufacturing and consumer packaged goods (CPG) industries is maintaining supply chain stability. CFOs can engage with procurement teams to review the supplier base in order to increase supplier resilience, as well as lead their organizations in implementing new supply chain models and processes. Digital technology enables the ability to make orders automatically and spot deficiencies more rapidly. It can also enable supply chains to become more flexible. Advanced analytics-based dynamic forecasting provides data in real-time so that inventory systems can be quicker and more reactive to demands. Drive Digital-powered Decision Making The WNS survey shows thatincreasing visibility is among the toppriorities for46% of CFOs. When aggregated financials are compared with overall performance, things are different. These comparisons also don't provide the organization with an adequate picture of the organization’s action steps. In such a scenario, data analytics, artificial intelligence (AI), machine learning (ML), and robotic process automation (RPA) offer a clear representation of information and key metrics. These cutting-edge solutions have empowered decision makers to pinpoint profitable products and services and mobilize investments into some products on the basis of solid data. Through close collaboration with data teams, CFOs may be able to achieve success in establishing and managing performance insightsfor sales, investments, marketing expenditures, and other areas of activity. Capital Management While customer demands are dipping across many industries, CFO's have a new capital challenge at hand. Theymust make sure their companies are adequately equippedto deal with the impact on income and itsimplications on investment and capital spending. Using a financial and governance framework, the information concerning receivables, payables, inventory, taxes, risks, and cash flow may all be integrated into a unified view of liquidity for CFOs. Gear Up for Disruption CFOs must help ensure their companies are adaptable enough to handle unforeseen turmoilas well as general political and economic unpredictability. Blockchain and other digital technologies establish a distributed system for frictionless departmental collaboration. Hence,the CFO and the widerorganization can build predictions and forecasts based on a single source of data. Parting Thoughts Rebuild but reimagine is what organizations and CFOs must do in order to thrive in the new dynamic normal. A stable supply chain, data-based decision-making, smart capital management, and gearing up for any future disruption is the way to go.

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A Guide to Banking in the Metaverse: Part 2

Article | May 26, 2022

In the first part of this article, we took a dive into what the metaverse is in the context of banking, what its benefits are and how it is affecting bank and consumer relationships now and in the future. Metaverse banking is undoubtedly the next phase of banking, but is it really a new concept? While the component technologies of the metaverse have been around for a while, their convergence has ushered in a new period of innovation for the banking industry. According to Accenture’s Technology Vision 2022 survey, 67% of banking executives worldwide believe that the metaverse will impact their organization positively, while 38% state it will be a transformational technology. Here are some organizations that are at the frontline of the metaverse banking revolution. KB Kookmin Bank: One of South Korea’ s most prominent financial institutions, KB Kookmin Bank, has a virtual bank that allows customers to access their financial information as well as get professional advice from a financial advisor through a VR-based interaction. BNP Paribas: The global banking group has a VR alternative for their retail banking customers. It offers a virtual reality app that enables users to access their account activity and transactions in a VR environment. Bank of America: Going one step ahead with its workforce management and training, Bank of America uses VR to train staff at its 4,300 financial centers across the country. VR environment training lets bank employees do complicated tasks in a simulated environment where they learn how to interact with customers and make sales. J.P. Morgan: J.P Morgan launched an Onyx lounge, a virtual lounge in the metaverse of Decentraland, which is itself a blockchain-based VR system. The bank enables cross-border payments, trading, foreign exchange, and financial asset creation, while Onyx facilitates blockchain wholesale transactions. HSBC: HSBC has gone ahead and bought a plot of land in the metaverse called The Sandbox, aimed at engaging sports and gaming fans. The Challenges Ahead and the Takeaway: As in social media or interactions in the real world, banks and other brands may be exposed to a variety of legal issues by using metaverses. Similar to how many didn't anticipate the potential adverse effects of personal abuse and the dissemination of "fake news," the extent of the risks may be difficult to predict at this stage. Despite the challenges, the metaverse offers an exciting possibility for banks. It could reduce the friction between modern digital platforms and offer a seamless consumer experience and a new way to move data without hindering security and data privacy. It’s a radical new technology, and financial institutions who are still considering its impact must start planning to enter the metaverse in the next couple of years.

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CORE BANKING

4 Trends Powering the Digital Banking Revolution

Article | June 22, 2022

Fueled by the emergence of new technologies and an ever-shifting workplace landscape, banking is powering a transition into a digital future for finance. The disruption in how we receive, save, and spend money is also enabling customers to expect and demand more from their banking. Service providers must now provide cutting-edge solutions to meet these demands in the era of open banking. The pursuit of innovation is producing a multitude of new trends in banking and finance. Here are five trends that are at the forefront of the banking story. 1 #1 APIs Application programming interfaces, or APIs are helping mobilize digital applications in banking like never before. Financial institutions are now able to offer swift yet secure digital banking services with a host of cutting-edge solutions through the use of APIs, all without incurring heavy costs to implement proprietary applications. 2 #2 Frictionless Transactions Being able to send and receive money seamlessly and in real-time has to be one of the most significant achievements of the digitalization of banking. It has not only upended traditional banking by reducing bottlenecks and delays, but also given a much needed thrust to the overall customer experience. The flexibility, ease, and promptness with which customers can now conduct transactions has singlehandedly given the digital banking economy a boost and laid the foundation for the creation of virtual versions of physical assets like credit cards and wallets. 3 #3 AI-powered Chatbots Artificial intelligence and machine learning in banking and finance are creating next-generation customer service solutions. The automation capabilities offered by AI chatbots and virtual assistants are helping financial institutions deliver faster and better banking experiences at a fraction of the cost. They are more capable of optimizing workforces to meet customer support demands, freeing up more resources. 4 #4 Multichannel Services Now that banking institutions are able to simplify consumer experiences, meeting customer needs across all channels has become a lot easier. Many organizations are developing an omnichannel banking experience that enables them to cater to complex demands and connect with customers at different touchpoints and stages of their consumer journeys. This enables banks to not only deliver better services but also customize their products and services, and provide a seamless, well-integrated experience. 5 To Conclude The digital wave is in full force, and banks and other financial institutions must take steps to integrate the above trends in their digitalization journey. They will need to on board a combination of automation, cloud banking, and analytics to unleash the full potential in order to keep customers coming back.

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CORE BANKING

A Guide to Banking in the Metaverse: Part 1

Article | July 13, 2022

The next generation of banking technology is here, and it’s in the metaverse. The metaverse is a virtual space that allows users to go beyond the web browser to engage in or even share experiences. The metaverse is built using technologies like virtual reality (VR), augmented reality (AR), blockchain and more. Consider being able to shop at a store, or play a game, or interact with friends, or meet with your bank representative, all in the 3D and without leaving your home. Now that the future is here, financial institutions will need to prepare to enter the metaverse and reimagine how they cater to their customers online. According to the Financial Brand, more than 47% of bankers believe that by 2030, many customers will use AR/VR as a channel for transactions. The opportunity is now. 1 Benefits of Banking in the Metaverse The most significant opportunity for banks is to capitalize on AR/VR to develop seamless consumer and employee experiences in the real-world. Some of the benefits include: 1.1 For Consumers Providing consumers with the ability to check balances, pay bills, transfer money, and do business utilizing AR and VR channels is known as metaverse banking Personalizing the banking experience by offering white glove service, tailored financial recommendations, investment planning and much more. 1.2 For Employees Providing immersive learning opportunities in the secure, replicated settings of customers or integrating their remote staff in ways that foster engagement, learning, and a sense of belonging. Equipping employees with the ability to underwrite loans using digital twins of a property instead of 2D photos and videos of the building. 2 How the Metaverse Will Impact Consumer Relationships? Banks shouldn't think ofjust enteringthe metaverse, determiningthe conditions of interaction, and capitalizing onit in order to increase trust and foster engagement. Innovative financial institutions will need to establish open communication with their consumers so that they are aware of the goals and intents of the organizational brand. The value transfers between institutions and consumers are no longer viable since the dynamic is one of collaboration and not just a vendor buyer relationship. Banks will need to reorganize how they create value if they want to build and maintain trust. 3 Moving Forward Many prominent financial institutions are riding the wave of metaverse banking. In the next part of this article, we will discuss organizations that are moving fast when it comes to adopting banking on the metaverse and how they are monetizing it.

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Spotlight

Moven

At Moven, we want to change the way consumers think about their money. While in the US we are a neobank driving constant innovation, our enterprise business focuses on enabling banks to leverage the Moven platform to acquire, engage, and grow a thriving customer base.

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FUNDING

Pivotal Capital Secures $55 Million in Funding Facilties

Pivotal Capital, Axis Auto Finance, Mitsubishi HC Capital Canada | July 08, 2022

Axis Auto Finance Inc. (“Axis” or the “Company”) (TSX: AXIS), a fintech lender servicing the alternative auto finance market, announced today that its wholly owned subsidiary, Pivotal Capital Corp. (“Pivotal”) has secured an additional Funding Facility (the “Facility”) with Mitsubishi HC Capital Canada, Inc. (“MHCCA”). Pivotal is an independent Canadian commercial equipment finance company active across the transportation, construction, manufacturing and food services sectors. The Facility adds to Pivotal’s existing funding relationships. Unique in the Canadian marketplace, Pivotal can lend across the credit spectrum with rates from investment grade to sub-prime. Facility highlights include a Purchase facility, with capacity of up to $50 million in annual purchases, and a Warehouse facility, with a limit of $5 million. The Facility will be used to finance and purchase the payment receivables generated from commercial finance contracts. “The addition of this Facility means that Pivotal has on balance sheet funding capacity in excess of $100 million. This will drive our aggressive growth plans for fiscal 2023 and continue our national expansion. This is the next step in becoming Canada’s largest independent equipment finance company,” said President Steven Koster. CEO Todd Hudson stated “Adding the $55 million in funding is an important strategic step for Pivotal. As Pivotal’s presence in the market grows, expanding our lending capabilities is crucial. This Facility will enable Pivotal to pursue even greater market share.” “We are proud to be part of Pivotal’s growth strategy,” said François Nantel, President Mitsubishi HC Capital Canada. “Pivotal is a significant player in the equipment finance industry and we believe this will be a mutually beneficial relationship.” About Pivotal Capital Pivotal is a wholly owned subsidiary of Axis Auto Finance (TSX: AXIS). With offices in Toronto, Montreal, Calgary and Vancouver, Pivotal is a national commercial equipment finance company, active across the transportation, construction, manufacturing and food services sectors. Further information on Pivotal can be found at https://www.pivotalcapitalcorp.com About Axis Auto Finance Axis is a financial technology company changing the way Canadians buy and finance used vehicles. Through our direct-to-consumer portal, DriveAxis.ca, customers can choose their next used vehicle, arrange financing, and get the car delivered to their home. In addition, the company continues to grow B2B non-prime auto loan originations by delivering innovative technology solutions and superior service to its Dealer Partner Network. All Axis auto loans report to Equifax, resulting in over 70% of customers seeing a significant improvement of their credit scores. Further information on the Company can be found at https://www.axisfinancegroup.com/investors-press-releases/. About Mitsubishi HC Capital Canada Mitsubishi HC Capital Canada is a specialty finance company that brings a consultative approach and expertise to customers of all sizes to help their businesses grow every day. Serving as a collaborative partner, we provide customized financing solutions for a wide range of industries, including manufacturing, construction, work trucks/transportation, IT, staffing, healthcare and clean technology/mobility.

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CORE BANKING

Customized Business Support: Regions Bank Announces Commercial Corporate Finance Team

Regions Financial Corporation | July 08, 2022

Regions Bank on Wednesday formally announced the establishment and continued business growth of a Commercial Corporate Finance (CCF) team that is connecting business leaders with specialized resources, insights, and guidance on opportunities including ownership transitions, financing alternatives, and risk management. The team is led by Coulter Warlick, who joined Regions in 2021 to develop and launch this team. “The Commercial Corporate Finance team is positioned to further enhance and expand Regions’ financing capabilities as we serve Commercial Banking clients with complex capital needs,” said Brian Willman, head of Commercial Banking for Regions. “The Commercial Corporate Finance team is positioned to further enhance and expand Regions’ financing capabilities as we serve Commercial Banking clients with complex capital needs,” said Brian Willman, head of Commercial Banking for Regions. “Our work starts with building a deep relationship with the client, understanding their opportunities and challenges, and developing tailored solutions. This team works hand-in-hand with commercial bankers across our footprint to provide specialized experience and insights. It’s another way we are creating greater value for existing clients – and for prospects who can benefit from a more customized approach to banking.” Additional focus areas for the CCF team include growth capital, management buyout needs, loan syndications, M&A opportunities, dividends, recapitalization and more. Warlick’s team provides guidance, structure, and support from concept through completion. “Amid the current volatility in the economy, companies especially value a banking relationship that helps them navigate the issues of today while keeping their long-term objectives within reach,” Warlick said. “At Regions, our relationship-driven model of service aligns with the needs and preferences of today’s business owners and managers. Working with our commercial bankers, the Commercial Corporate Finance team can be a trusted source of additional guidance in helping business leaders with customized solutions to meet their financial goals.” Warlick joined Regions from South State Bank, where he served as director of Middle Market Banking and developed a team of bankers serving mid-sized businesses throughout the Southeast. He previously worked at SunTrust Robinson Humphrey. Warlick began his banking career at BB&T in 2005. Warlick earned a Bachelor of Arts in Economics from the University of North Carolina at Chapel Hill. He currently chairs the board of directors for Furman University’s Bridges to a Brighter Future Program Scholarship Fund. In addition, Warlick serves on the executive leadership team of the Alzheimer’s Association of Charlotte, and he recently completed service on the board of directors for Classroom Central, a nonprofit focused on serving teachers and students in Charlotte. About Regions Financial Corporation Regions Financial Corporation (NYSE:RF), with $164 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,300 banking offices and more than 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.

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FINANCIAL MANAGEMENT

Markacy Announces New Finance-Based Marketing Solution

Markacy | July 07, 2022

Remote Work, HR departments, HR TechMarkacy, (“the Company”) a digital strategy and marketing firm headquartered in New York City, today unveiled its Finance-Based Marketing solution (“FBM”). This new capability is aimed at methodically improving profitability and empowers brands to identify immediate cost savings and marketing efficiencies without sacrificing long-term growth. FBM is an evolution of Markacy’s financially driven approach to digital and e-commerce direct-to-consumer (DTC) strategies for new and established brands across sectors. “When the market is thriving, it seems less risky to spend frivolously. However, spending that is not optimized creates challenges when there is an economic downturn,” said Chris Jones, Managing Partner and Co-Founder of Markacy. “When the market is thriving, it seems less risky to spend frivolously. However, spending that is not optimized creates challenges when there is an economic downturn,” said Chris Jones, Managing Partner and Co-Founder of Markacy. “We expect brands to re-evaluate their marketing budgets over the coming months. Knowing how and when to adapt expenditures throughout the entire marketing program is absolutely crucial, especially with current market volatility. We built FBM as an all-encompassing solution focused on driving P&L objectives and achieving sustainable growth.” Deploying FBM requires a comprehensive evaluation of a brand’s enterprise-wide commercial objectives and an audit of its P&L. This enables Markacy’s marketing strategists to gain a deep understanding of the brand’s financials and its most pressing challenges and the biggest opportunities. To that end, at the very outset, Markacy defines marketing key performance indicators (KPIs) including Media Efficiency Ratio (MER) targets that are reverse-engineered from a brand’s P&L objectives using its proprietary calculator. This strategy ensures that all expenditures - ranging from advertising cost, and the use of marketing technology platforms, to headcount - are fully aligned and optimized in accordance with enterprise-wide business goals. During economic downturns, many DTC brands have been known to uniformly cut operating and marketing expenditures, often stunting mid and long-term growth. Informed by FBM, Markacy is working with clients to mitigate this effect by prioritizing strategies and advertising channels that drive profitable growth while also cutting back from marketing programs that do not advance MER targets or the bottom line. Tucker Matheson, Managing Partner and Co-Founder of Markacy added: “Our multidisciplinary offering fills a gap in traditional digital marketing strategies that brands use despite today’s uncertainties. We put a critical lens on the quantitative financial impact of marketing and bring it to life. FBM will raise our impact to another level, enabling us to advise clients in a more focused and precise manner directly tied to financial performance. We have a set of critical, proprietary tools that enable us to understand which channels and campaigns are the most impactful and shift budgets accordingly when necessary.” Markacy’s work is guided by the evolving and growing expertise of its team, combined with the leadership’s experience in finance and strategy consulting. To receive a complimentary assessment for your brand using our FBM solution, contact Markacy. About Markacy Markacy is a digital strategy firm helping brands launch, grow and scale, by developing and executing cross-channel strategies. Specializing in finance, media, strategic planning, creative, and marketing operations, the company is headquartered in New York City with teams in multiple cities including Boston and Los Angeles. Visit us at http://markacy.com/

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FUNDING

Pivotal Capital Secures $55 Million in Funding Facilties

Pivotal Capital, Axis Auto Finance, Mitsubishi HC Capital Canada | July 08, 2022

Axis Auto Finance Inc. (“Axis” or the “Company”) (TSX: AXIS), a fintech lender servicing the alternative auto finance market, announced today that its wholly owned subsidiary, Pivotal Capital Corp. (“Pivotal”) has secured an additional Funding Facility (the “Facility”) with Mitsubishi HC Capital Canada, Inc. (“MHCCA”). Pivotal is an independent Canadian commercial equipment finance company active across the transportation, construction, manufacturing and food services sectors. The Facility adds to Pivotal’s existing funding relationships. Unique in the Canadian marketplace, Pivotal can lend across the credit spectrum with rates from investment grade to sub-prime. Facility highlights include a Purchase facility, with capacity of up to $50 million in annual purchases, and a Warehouse facility, with a limit of $5 million. The Facility will be used to finance and purchase the payment receivables generated from commercial finance contracts. “The addition of this Facility means that Pivotal has on balance sheet funding capacity in excess of $100 million. This will drive our aggressive growth plans for fiscal 2023 and continue our national expansion. This is the next step in becoming Canada’s largest independent equipment finance company,” said President Steven Koster. CEO Todd Hudson stated “Adding the $55 million in funding is an important strategic step for Pivotal. As Pivotal’s presence in the market grows, expanding our lending capabilities is crucial. This Facility will enable Pivotal to pursue even greater market share.” “We are proud to be part of Pivotal’s growth strategy,” said François Nantel, President Mitsubishi HC Capital Canada. “Pivotal is a significant player in the equipment finance industry and we believe this will be a mutually beneficial relationship.” About Pivotal Capital Pivotal is a wholly owned subsidiary of Axis Auto Finance (TSX: AXIS). With offices in Toronto, Montreal, Calgary and Vancouver, Pivotal is a national commercial equipment finance company, active across the transportation, construction, manufacturing and food services sectors. Further information on Pivotal can be found at https://www.pivotalcapitalcorp.com About Axis Auto Finance Axis is a financial technology company changing the way Canadians buy and finance used vehicles. Through our direct-to-consumer portal, DriveAxis.ca, customers can choose their next used vehicle, arrange financing, and get the car delivered to their home. In addition, the company continues to grow B2B non-prime auto loan originations by delivering innovative technology solutions and superior service to its Dealer Partner Network. All Axis auto loans report to Equifax, resulting in over 70% of customers seeing a significant improvement of their credit scores. Further information on the Company can be found at https://www.axisfinancegroup.com/investors-press-releases/. About Mitsubishi HC Capital Canada Mitsubishi HC Capital Canada is a specialty finance company that brings a consultative approach and expertise to customers of all sizes to help their businesses grow every day. Serving as a collaborative partner, we provide customized financing solutions for a wide range of industries, including manufacturing, construction, work trucks/transportation, IT, staffing, healthcare and clean technology/mobility.

Read More

CORE BANKING

Customized Business Support: Regions Bank Announces Commercial Corporate Finance Team

Regions Financial Corporation | July 08, 2022

Regions Bank on Wednesday formally announced the establishment and continued business growth of a Commercial Corporate Finance (CCF) team that is connecting business leaders with specialized resources, insights, and guidance on opportunities including ownership transitions, financing alternatives, and risk management. The team is led by Coulter Warlick, who joined Regions in 2021 to develop and launch this team. “The Commercial Corporate Finance team is positioned to further enhance and expand Regions’ financing capabilities as we serve Commercial Banking clients with complex capital needs,” said Brian Willman, head of Commercial Banking for Regions. “The Commercial Corporate Finance team is positioned to further enhance and expand Regions’ financing capabilities as we serve Commercial Banking clients with complex capital needs,” said Brian Willman, head of Commercial Banking for Regions. “Our work starts with building a deep relationship with the client, understanding their opportunities and challenges, and developing tailored solutions. This team works hand-in-hand with commercial bankers across our footprint to provide specialized experience and insights. It’s another way we are creating greater value for existing clients – and for prospects who can benefit from a more customized approach to banking.” Additional focus areas for the CCF team include growth capital, management buyout needs, loan syndications, M&A opportunities, dividends, recapitalization and more. Warlick’s team provides guidance, structure, and support from concept through completion. “Amid the current volatility in the economy, companies especially value a banking relationship that helps them navigate the issues of today while keeping their long-term objectives within reach,” Warlick said. “At Regions, our relationship-driven model of service aligns with the needs and preferences of today’s business owners and managers. Working with our commercial bankers, the Commercial Corporate Finance team can be a trusted source of additional guidance in helping business leaders with customized solutions to meet their financial goals.” Warlick joined Regions from South State Bank, where he served as director of Middle Market Banking and developed a team of bankers serving mid-sized businesses throughout the Southeast. He previously worked at SunTrust Robinson Humphrey. Warlick began his banking career at BB&T in 2005. Warlick earned a Bachelor of Arts in Economics from the University of North Carolina at Chapel Hill. He currently chairs the board of directors for Furman University’s Bridges to a Brighter Future Program Scholarship Fund. In addition, Warlick serves on the executive leadership team of the Alzheimer’s Association of Charlotte, and he recently completed service on the board of directors for Classroom Central, a nonprofit focused on serving teachers and students in Charlotte. About Regions Financial Corporation Regions Financial Corporation (NYSE:RF), with $164 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,300 banking offices and more than 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.

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FINANCIAL MANAGEMENT

Markacy Announces New Finance-Based Marketing Solution

Markacy | July 07, 2022

Remote Work, HR departments, HR TechMarkacy, (“the Company”) a digital strategy and marketing firm headquartered in New York City, today unveiled its Finance-Based Marketing solution (“FBM”). This new capability is aimed at methodically improving profitability and empowers brands to identify immediate cost savings and marketing efficiencies without sacrificing long-term growth. FBM is an evolution of Markacy’s financially driven approach to digital and e-commerce direct-to-consumer (DTC) strategies for new and established brands across sectors. “When the market is thriving, it seems less risky to spend frivolously. However, spending that is not optimized creates challenges when there is an economic downturn,” said Chris Jones, Managing Partner and Co-Founder of Markacy. “When the market is thriving, it seems less risky to spend frivolously. However, spending that is not optimized creates challenges when there is an economic downturn,” said Chris Jones, Managing Partner and Co-Founder of Markacy. “We expect brands to re-evaluate their marketing budgets over the coming months. Knowing how and when to adapt expenditures throughout the entire marketing program is absolutely crucial, especially with current market volatility. We built FBM as an all-encompassing solution focused on driving P&L objectives and achieving sustainable growth.” Deploying FBM requires a comprehensive evaluation of a brand’s enterprise-wide commercial objectives and an audit of its P&L. This enables Markacy’s marketing strategists to gain a deep understanding of the brand’s financials and its most pressing challenges and the biggest opportunities. To that end, at the very outset, Markacy defines marketing key performance indicators (KPIs) including Media Efficiency Ratio (MER) targets that are reverse-engineered from a brand’s P&L objectives using its proprietary calculator. This strategy ensures that all expenditures - ranging from advertising cost, and the use of marketing technology platforms, to headcount - are fully aligned and optimized in accordance with enterprise-wide business goals. During economic downturns, many DTC brands have been known to uniformly cut operating and marketing expenditures, often stunting mid and long-term growth. Informed by FBM, Markacy is working with clients to mitigate this effect by prioritizing strategies and advertising channels that drive profitable growth while also cutting back from marketing programs that do not advance MER targets or the bottom line. Tucker Matheson, Managing Partner and Co-Founder of Markacy added: “Our multidisciplinary offering fills a gap in traditional digital marketing strategies that brands use despite today’s uncertainties. We put a critical lens on the quantitative financial impact of marketing and bring it to life. FBM will raise our impact to another level, enabling us to advise clients in a more focused and precise manner directly tied to financial performance. We have a set of critical, proprietary tools that enable us to understand which channels and campaigns are the most impactful and shift budgets accordingly when necessary.” Markacy’s work is guided by the evolving and growing expertise of its team, combined with the leadership’s experience in finance and strategy consulting. To receive a complimentary assessment for your brand using our FBM solution, contact Markacy. About Markacy Markacy is a digital strategy firm helping brands launch, grow and scale, by developing and executing cross-channel strategies. Specializing in finance, media, strategic planning, creative, and marketing operations, the company is headquartered in New York City with teams in multiple cities including Boston and Los Angeles. Visit us at http://markacy.com/

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