BlackRock's assets blow past $7T in milestone for investment giant

BlackRock | January 15, 2020

BlackRock Inc.'s assets scaled $7 trillion for the first time, putting the spotlight on the world's largest money manager's growing reach. The investment giant took in $128.8 billion in net new money in the fourth quarter of 2019, where exchange-traded funds drew big inflows. That is up from the $49.8 billion in net flows in the year-ago period. BlackRock's quarterly net profits rose 40 percent to $1.3 billion. The company's fourth-quarter earnings of $8.29 a share exceeded Wall Street forecasts. Analysts surveyed by Factset were expecting net profits of $1.2 billion, or $7.75 a share.

Spotlight

A dozen years ago - before phrases like “too big to fail” and “great recession” entered our lexicon - we saw that employers were concentrating on increasing workers’ perception of their defined contribution plan’s value. Then, as the dust was settling from the upheaval of the financial crisis, employers focused on mitigating risk and assessing the appropriateness of their retirement plan designs.

Spotlight

A dozen years ago - before phrases like “too big to fail” and “great recession” entered our lexicon - we saw that employers were concentrating on increasing workers’ perception of their defined contribution plan’s value. Then, as the dust was settling from the upheaval of the financial crisis, employers focused on mitigating risk and assessing the appropriateness of their retirement plan designs.

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FINTECH

Barclays and Rainmaking Partnered to Help FinTech Leaders with Strategic Innovations

Barclays | February 04, 2022

Barclays announced its strategic partnership with Rainmaking, a corporate venture builder leader, to provide innovatory services to FinTech leaders. With Rainmaking, Barclays will launch initiatives to scale up financial services and help companies to grow. The first initiative is to launch the Rise Start-Up Academy, a virtual digital skills-building accelerator. The initiative is targeted to the idea- and early-stage FinTech companies. Applications are already live for companies addressing emerging Fintech trends that include climate, equality, the future of money, many other financial activities. Apart from this, Rise Growth Academy is yet another initiative that will be launched to provide capability development around crucial areas such as recruitment, investment readiness, leadership development, and accelerating sales. In addition, a FinTech Venture Studio is also in the league to go live in 2022. The venture is focused on co-developing new FinTech ventures, working with start-ups, internal talent, and other leading companies. Barclays will have a support system for its ambition to transform banking for customers and clients it serves through this partnership. The Barclays Group Innovation team will be working closely with start-ups at each level of innovation to introduce new products and services to market rapidly. While the news was spread, "Innovation is critical in driving growth in today's challenging business environment and in solving some of the most pressing problems society faces today. "We have been humbled by the incredible FinTechs we have worked with, and we understand first-hand the power of collaboration to evolve and unlock opportunities for our customers, clients, colleagues, and the communities in which we operate. So we are very excited to work with Rainmaking to push the boundaries of corporate innovation further and ensure collaboration is at the heart of our FinTech strategy." Mariquit Corcoran, Group Chief Innovation Officer at Barclays. Rainmaking has presented a remarkable track record in partnering with giant corporates to build successful new ventures. The company is taking the initiatives based upon the proven methodology that it has already used to make 65 of its ventures. Also, with the help of its subsidiary, Startupbootcamp, it accelerated over 950 start-ups and over 100 cohorts. Out of which, only 10% of early-stage start-ups survived. According to Rainmaking, the last venture led to 4,626 jobs and raised above $800 million in funding. We are working with Barclays to drive positive change and play an active role in stimulating growth and opening up future revenue opportunities for founders of new businesses. By providing the tools to enhance digital skills, founders can build and scale their businesses for future revenue growth. The new suite of meaningful and cutting-edge FinTech programs will combine the power of entrepreneurship while unlocking the scale strengths and the deep domain expertise of Barclays." Chris Locke, CEO Europe, Rainmaking.

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Devexperts integrates DXtrade SaaS trading platform with Economic Calendar by FXStreet,

Business Wire | September 07, 2020

Devexperts, a leading global software provider for the capital markets industry, has integrated the DXtrade SaaS trading platform with the Economic Calendar by FXStreet, a leading information and resources provider for forex traders. DXtrade is an off-the-shelf trading platform for established and amateur FX/CFD brokers worldwide. In DXtrade, the Economic Calendar is provided by FXStreet to allow traders to track events of their choice. The Calendar provides indicators that help traders anticipate which economic data releases will impact market volatility most, while also displaying additional useful information for each data release.

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PAYMENTS

Mastercard and Previse Speed Business Payments Globally

Mastercard | October 18, 2021

Mastercard and Previse today announced the integration of Mastercard Cross-Border Services – a global push payments platform that enables funds to be sent seamlessly, securely and with certainty to any account – into Previse’s InstantPay platform. The collaboration will enable instant payments to suppliers in over 100 markets globally. In today’s environment, cash flow is critical – particularly for small and medium-sized businesses (SMBs). Over one third of SMBs in North America report facing cash flow issues due to late payments and slow processing times for cash and checks1. Globally, many businesses also lack streamlined ways to receive payments in their local currency when dealing with customers in multiple markets. This forces them to borrow money at expensive rates to support cash flow, while they wait for payment on outstanding invoices. Using the latest advances in machine learning, Previse’s InstantPay solution analyzes invoices to identify those that are likely to be rejected, enabling the rest to be paid the same day they’re received. With the integration of Mastercard’s Cross-Border Services, companies using InstantPay can now send digital payments seamlessly and securely to suppliers in over 100 counties via bank accounts and digital wallets. In addition to paying suppliers quickly, business can reduce the cost of transactions and access real-time exchange rates for local currency, while reducing the need for additional documents and manual processes. “Delayed payments have always been a challenge for businesses and the pandemic only exacerbated this pain point,” said Ron Shultz, executive vice president, New Payments Flows, North America at Mastercard. “With Mastercard Cross-Border Services, businesses can expect to receive funds quickly, directly and securely. Digital B2B payment innovations like the ones being driven by Mastercard and Previse are helping suppliers gain faster access to funds and freedom from inefficient processes, so they can not only recover today - but thrive tomorrow.” “Flexible, robust supply chains and steadfast cash flow are essential for businesses to thrive and grow, particularly SMBs,” comments Paul Christensen, CEO and Co-Founder of Previse. “The integration of Mastercard Cross-Border Services enables every corporate using InstantPay to effortlessly pay suppliers across the world on day one. It's an innovative solution from Mastercard and Previse, which strengthens global supply chains and is a true win-win for large corporates and SMBs alike as we recover from the pandemic.” Previse joins a growing list of global partners working with Mastercard to offer people and businesses a more predictable and more certain way to pay and get paid across borders. Mastercard Cross-Border Services connects 90 percent of the world’s population via bank accounts, digital wallets, cards and cash agents, all through a single and secure point of access. About Mastercard Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart, and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments, and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all. About Previse Previse, founded in 2016, is an artificial intelligence company that has developed an innovative B2B payment solution. Through its state-of-the-art AI and analytical technology Previse is enabling firms to unlock the value in their invoice data, to get their suppliers paid instantly and build a stronger supply chain. Previse is notably a part of the Mastercard Start Path program.

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