FINANCIAL MANAGEMENT

Markacy Announces New Finance-Based Marketing Solution

Markacy | July 07, 2022 | Read time : 05 min

Finance-Based Marketing Solution
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/

Spotlight

Royal Bank of Scotland's head of future finance Stuart Wray shares how Oracle ERP and EPM Cloud are ushering in a new era for finance at this 300-year-old institution. Royal Bank of Scotland (RBS)  had an encouraging piece of news last week the first recorded profit in a decade at the troubled financial institution.

Spotlight

Royal Bank of Scotland's head of future finance Stuart Wray shares how Oracle ERP and EPM Cloud are ushering in a new era for finance at this 300-year-old institution. Royal Bank of Scotland (RBS)  had an encouraging piece of news last week the first recorded profit in a decade at the troubled financial institution.

Related News

FINTECH

Volante Technologies Named to Prestigious IDC FinTech Rankings Top 100 for Second Year Running

Volante Technologies | September 23, 2022

Volante Technologies, the global leader in cloud payments and financial messaging, today announced that it has been named to The IDC FinTech Rankings Top 100 for the second year in a row. The IDC FinTech Rankings 2022 evaluates and categorizes the top IT vendors based on 2021 calendar year revenues and the percentage of revenues exclusively attributed to financial institutions. This accolade follows a number of other recent wins for Volante, including placing first in the IBS Intelligence (IBSi) Sales League Table (SLT) for wholesale banking payments, and receiving the 'Most Innovative Payment Solutions Provider' award at MEA Finance Banking Technology Awards (both for the second year running). Volante has also been recognized as a Leader in the Omdia Universe: Selecting a Payment Hub, 2021-22 global survey. According to Aaron Press, Research Director at IDC Financial Insights, Volante's focus on payments has once again placed the company on the IDC Fintech Rankings Top 100. Volante continues to earn this position with innovative solutions that move their customers' payments capabilities forward. The IDC Fintech Rankings, now in its 19th year, is the global standard list of fintech providers to the industry, and we congratulate Volante for their placement among the 2022 winners. Since debuting in the IDC Fintech Rankings Top 100 in 2021, Volante has launched a number of new service offerings, including the Volante ISO 20022 Service, which simplifies the complexity of global ISO 20022 modernization, and a unified solution for processing FedNow℠ Service and TCH RTP® real-time payments in the U.S. Volante has also broadened its partner ecosystem, announcing strategic partnerships with Mambu, to bring SaaS real-time payments and core banking to market, and KPMG, to offer financial institutions comprehensive ISO 20022 and real-time payments readiness diagnostics. During this time, Volante has continued to maintain strong trusted-partner relationships with customers, securing strategic growth funding from Wells Fargo, BNY Mellon, and Poste Italiane, and expanding the scope of its cloud Payments as a Service (PaaS) offering with FIMBank. Volante has also grown its footprint in Latin America, announcing payments modernization deployments with Banca Afirme, S.A. (Afirme, a subsidiary of Afirme Grupo Financiero, S.A. de C.V.) and Banco del Bajío, two of the largest domestic banks in Mexico. "According to IDC, digital transformation spend in worldwide banking will reach $17 billion by 2025*. Driven by demand for always-on real-time digital services from consumers and businesses, financial businesses are under pressure to modernize rapidly. As new payment types proliferate, payments modernization is an essential pillar of any digital transformation strategy," - Vijay Oddiraju, CEO, Volante Technologies Our inclusion in the IDC Fintech 100 is a testament to the role that we are playing in accelerating payments modernization by providing our customers with compelling cloud Payments as a Service and low-code financial integration solutions. As a result, more and more financial businesses of all sizes are partnering and investing with Volante, he continued. About Volante Technologies Volante Technologies is the leading global provider of cloud payments and financial messaging solutions to accelerate digital transformation. We serve as a trusted partner to over 100 banks, financial institutions, market infrastructures, clearing houses, and corporate treasuries in 35 countries. Our solutions and services process millions of transactions and trillions in value every day, powering four of the top five corporate banks, 40 percent of all U.S. commercial bank deposits, and 70 percent of worldwide card traffic. As a result, our customers can stay ahead of emerging trends, become more competitive, deliver superior client experiences, and grow their businesses through rapid innovation.

Read More

CORE BANKING, PAYMENTS

Bank of America's CashPro® Modernizes the Sign-In Experience With Biometrics

Bank of America | September 27, 2022

Bank of America today announced the launch of QR sign-in for CashPro, a development that makes it easier for companies to access their payments, cash management and trade finance operations. The bank's 500,000 CashPro users now have the option to sign into the website using their mobile device by scanning a QR code and their biometrics via the CashPro App, replacing the need to manually enter password credentials. "QR sign-in is a technology that's familiar to our clients from their personal lives, and now they can use it to seamlessly access CashPro, The technology kicks off a schedule of enhancements we plan to introduce to CashPro over the next 18 months that will further improve the simplicity and security of our award-winning platform." -Tom Durkin, global product head for CashPro Platform in Global Transaction Services Mobile authentication is a natural extension of the ubiquitous worldwide adoption of mobile devices and the increasing comfort clients have in using them for business purposes. QR sign-in is powered by patented technology that allows a mobile device to be used as a method for computer authentication. It is the first of a series of enhancements for CashPro aimed at reducing the reliance on traditional forms of user credentials and making the user experience simpler and more secure. Bank of America listens carefully to its client users through the CashPro Client Advisory Boards that represent companies of varying size and complexity as the bank designs and implements new security and innovation features. The CashPro Advisory Boards generate invaluable dialogue that help ensure the enhancements we make to the platform fuel our clients' own growth objectives, QR sign-in is the latest example of the collaboration achieved through the Advisory Boards,said Ken Ullmann, co-head of GTS for Global Commercial Banking at Bank of America. Bank of America has been named the World's Best Bank for Payments and Treasury by Euromoney magazine for the past two years. Additionally, CashPro and the CashPro App consistently receive third party recognition such as: Celent Model Bank 2022 Award for Corporate Digital Banking, Celent Best Mobile Cash Management Software, Best Treasury and Cash Management Providers 2022: Systems and Services, Global Finance magazine Best Mobile Technology Solution, Technology & Innovation Awards 2021, Treasury Management International (TMI) CashPro Forecasting named Best Cash Management Project for 2022, The Asian Banker Bank of America Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 67 million consumer and small business clients with approximately 4,000 retail financial centers, approximately 16,000 ATMs and award-winning digital banking with approximately 55 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock is listed on the New York Stock Exchange. Bank of America is the marketing name used by certain Global Banking and Global Markets businesses of Bank of America Corporation. Lending, other commercial banking activities, and trading in certain financial instruments are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. © 2022 Bank of America Corporation. All rights reserved.

Read More

CORE BANKING, FINTECH

Figure Technologies Announces the Launch of Its Banking and Payment Business

Figure | September 08, 2022

Figure Technologies, Inc., a pioneer in financial technology, transforming banking through blockchain, announced the launch of its new banking and payment business, Figure Payments Corp. Known as Figure Pay, the subsidiary of Figure will deliver Banking as a Service (BaaS) offerings through a highly scalable, quickly deployable application programming interface-driven platform. Figure Pay offers two platform alternatives, one focused on fintech, non-banks, and retailers, and one for banks. For Fintechs, non-bank lenders, and retailers, Figure Pay offers a comprehensive solution, including the BaaS core system, Visa issuer processing, regulatory cover through Figure Pay, and a complete back office including staff, if required. All key services and technology are owned and managed by Figure, with no monthly fees or minimums. For banks, Figure offers the only commercially available technology supporting the transition processing of USDF, a tokenized deposit construct offered by banks which are part of the USDF Consortium. The Figure technology is built on the Provenance blockchain, and provides real-time interbank transaction processing for both P2P and merchant transactions, allowing banks to offer real-time payment capabilities to their consumer and merchant customers. "With Figure Pay, we were able to develop a solution to what we saw as a gap in banking and payments, Our solution has been battle tested via our own direct to consumer banking application Figure Pay, and this experience led us to build what we knew the market needed." -Tony Morosini, Figure Pay's general manager Retailers and fintechs have been searching for cost-effective solutions to bring the financial services ecosystem into the modern world, Ultimately, as blockchain is further adopted in the financial services industry, consumers will see benefits of this modern solution. "Our team's combined years of experience in the industry have culminated in a business and products ready to address these needs,said Mike Cagney, CEO and co-founder of Figure Technologies, Inc. About Figure Figure is transforming financial services through blockchain, bringing speed, efficiency and savings to both consumers and institutions. Figure continues to unveil a series of fintech firsts across the capital markets, investment management, and banking and payments sectors. Figure leverages Provenance Blockchain for loan origination, servicing, financing, and now private fund services. The company was founded in 2018 by serial technology entrepreneur Mike Cagney, who also founded SoFi and built the company into a multi-billion-dollar business under his leadership as CEO.

Read More