American Revolut-ion: European banking apps face crowded U.S. market

Revolut | February 05, 2020

When London-based Revolut opens its virtual doors in America this year, it will be the latest European digital bank to challenge incumbent U.S. lending giants after forays by Monzo and N26, but the challenges it faces have not diminished. While the start-ups are experiencing fast growth at home, a crowded market, complex regulatory environment and different customer needs make it hard to stand out in the United States, financial-technology executives, investors and analysts say. Revolut and its rivals have amassed millions of customers and billion-dollar valuations in Europe by offering cheap, user-friendly alternatives to traditional banking services. Branchless, but armed with slick apps, they’re particularly popular with younger customers.

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Saving costs, improving traceability and transparency are key drivers of blockchain investments Most blockchain deployments are still in the experimentation stage Consumer Products tops the list of the industries with one-sixth moving beyond Proofs Of Concept.


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CORE BANKING

MCT Continues to Elevate and Deliver Unmatched Client Experience Within Mortgage Capital Markets

MCT | April 26, 2022

Mortgage Capital Trading, Inc.® (MCT), the industry leader in capital markets software and services, today announced it has reinforced its commitment to client profitability and success. Backed by an enhanced sales and support structure, MCT has hired industry all-stars and promoted valued team members. A passion for client experience has differentiated MCT throughout its 20-year history, We are consistently evaluating and enhancing the ways in which we support our clients. While some accounts opt for MCT’s hands-on guidance, others are fully self-directed – both leveraging our award winning MCTlive! ® platform. We meet clients where they are in their growth cycle and provide the most innovative technology and timely advice for them to thrive.” Curtis Richins, President and CEO. Our support begins during the early stages of developing a relationship – often even before a client selects MCT. We listen, collaborate, and share our deep subject matter expertise. Every client is unique, and we tailor our offering to their situation.” Ben Itkin, MCT’s newly appointed Head of Sales, also emphasized the company’s dedication to client experience. Additionally, MCT has created two, new client-facing roles: Regional Account Executive (RAE) and Capital Markets Technology Advisor (CMTA). Both positions are instrumental in providing a seamless experience from sales to on-boarding to long-term success. Peg Eaton, formerly a Correspondent Account Representative at Mr. Cooper and the Manager of Business Operations at Lenders One, recently joined MCT as RAE for the Northeast and Great Lakes regions. Similarly, Boulton Brynteson and Chad Stone have been promoted to RAEs. With this updated structure, MCT’s mortgage lender clients will be further buttressed by a cross- functional team that includes Sales, Client Success Group, and Trading members. We are making material investments in our clients’ success, And, should an account need Lock Desk, MSR, or pricing support, we have additional resources for those areas as well. From loan lock to loan sale, MCT offers the most robust, streamlined, and digital offering in the business.” Richins About MCT: Founded in 2001, Mortgage Capital Trading, Inc. (MCT) ® has grown from a boutique mortgage pipeline hedging firm into the industry’s leading provider of fully integrated capital markets services and technology. MCT’s offerings include mortgage pipeline hedging, best execution loan sales, business intelligence and analytics, outsourced lock desk solutions, MSR valuation, hedging, and bulk sales, and the world’s first, truly open marketplace for loan sales. MCT supports independent mortgage bankers, depositories, credit unions, warehouse lenders, and correspondent investors of all sizes within its award-winning digital platform, MCTlive! ®. Headquartered in sunny San Diego, MCT also has offices in Healdsburg, CA, Philadelphia, PA and Texas.

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FINANCIAL MANAGEMENT

Modyo and TODO1/iuvity Sign Agreement to Power a New Breed of Digital Financial Solutions

Modyo | December 29, 2021

It gives us great pleasure to announce today that TODO1/iuvity’s solutions will have the frontend digital financial experience powered by Modyo integrated with TODO1/iuvity’s Open Service Platform. With more than 20 years of digital financial experience, TODO1 is an industry leader powering important financial institutions in Latin America that have served more than 21 million digital customers in the past 12 months. TODO1/iuvity and Modyo are providing clients and partners with a very compelling value proposition. Modyo’s frontend financial platform combined with TODO1/iuvity’s Open Service Platform’s APIs will give our clients flexibility and acceleration. Time to market can be reduced dramatically while helping to power next-gen digital financial solutions, leveraging the right architecture in the cloud. The first phase of the joint effort will be to launch new ready to go financial experiences offered by TODO1/iuvity. Designed based on years of know-how in the financial services industry, TODO1/iuvity’s OSP provides over 300 rich and extensible APIs that can be leveraged to create unique solutions that meet the most demanding digital financial needs. Customer journeys can be customized by orchestrating business flows, linking existing or 3rd party services and adjusting the visual components to create an exceptional user experience. Additionally, the TODO1/iuvity Open Service Platform’s communication layer allows for quick integration to back-end core systems. Modyo will be the Front End, flexible experience layer connecting to TODO1/iuvity’s ready to go APIs. Comments on the News “TODO1 and Modyo have the ability to power a complete digital banking ecosystem,” said Mark Bonnell, CEO of Modyo. “Our frontend platform with a growing catalog of Financial Experiences integrated with TODO1’s Open Service Platform API’s will help financial institutions accelerate their digital transformation.” This partnership is aligned with our goal of working with exceptional talent to build state of the art products. We are excited to join forces with Modyo to continue being at the forefront of user-centric technologies that empower businesses to better serve their customers.” Felipe Uribe, CEO of TODO1/iuvity. About TODO1 and iuvity TODO1 is a leading technology company servicing key financial institutions in America. A growing number of over 21 million digital customers in the financial sector count on TODO1's solutions. With an exceptional track record, TODO1 delivers innovative and secure solutions through digital channels to financial institutions that want to positively transform the lives of their customers in Latin America and the US. At TODO1 we seek to humanize the relationship between people and their financial world by delivering digital channel solutions designed to facilitate their use and adoption. iuvity is a new brand created by TODO1 focused on the North American market. About Modyo Modyo is a fast growing software company that helps digital leaders from financial institutions & large enterprises transform their web and mobile channels with a lightweight, fast and secure next-gen frontend platform. With 130 employees today spread across 3 continents, Modyo accelerates digital transformation for clients and partners. For Financial Institutions, Modyo’s platform makes it easy to create and orchestrate digital experiences built through Micro Frontends that connect to API’s to help Financial Institutions transform faster and build amazing digital customer experiences

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FINANCIAL MANAGEMENT

REPAY to Acquire Integrated Payments Provider BillingTree for $503 Million

REPAY, BillingTree | May 11, 2021

Repay Holdings Corporation, a leading provider of vertically-integrated payment solutions, today announced it has signed a definitive agreement to acquire BillingTree for approximately $503 million. The acquisition will be financed with approximately $275 million in cash from REPAY’s balance sheet and $228 million in newly issued shares of REPAY Class A common stock to be issued to the seller. The transaction is subject to certain customary closing conditions and is expected to close by the end of the second quarter of 2021. BillingTree, founded in 2003 and headquartered in Scottsdale, AZ, is a leading provider of omni-channel, integrated payments solutions to the Healthcare, Credit Union, Accounts Receivable Management (ARM), and Energy industries. Through its technology-enabled suite of products and services, including a variety of payment channels and reporting capabilities, BillingTree helps organizations get paid faster and more efficiently. “We are thrilled to announce this acquisition, our largest to date, and look forward to further expanding our position in Healthcare, Credit Unions, and Accounts Receivable Management with the help of BillingTree’s team and strong platform capabilities,” said John Morris, CEO of REPAY. “BillingTree satisfies all of our acquisition investment criteria, including a large addressable market opportunity that is amid a shift away from legacy payment methods and towards the technology-first, industry-specific payment mediums in which BillingTree specializes. Additionally, BillingTree has strong recurring revenue streams, high customer retention, approximately 50 unique ISV integrations, an attractive financial profile, and numerous opportunities for synergy realization. We are looking forward to welcoming BillingTree into the REPAY family and together pursuing many amazing growth opportunities ahead.” “BillingTree’s unique approach has always been to develop strategic alliances with service, software, and billing providers resulting in full integrations that create seamless, compliant, and innovative payment solutions. We believe that we are an ideal strategic partner for BillingTree, as we also go to market with a highly integrated, omni-channel approach. Together, we can capture more of the massive addressable market in payments and combine our incredible team members and technology to create simplified experiences for merchants across our collective, ever-expanding verticals,” continued Morris. Credit Suisse served as exclusive financial advisor and Troutman Pepper served as legal advisor to REPAY. Financial Technology Partners (“FT Partners”) served as exclusive financial advisor and Kirkland & Ellis served as legal advisor to BillingTree and Parthenon. About BillingTree BillingTree is a leading provider of integrated payments solutions to customers in the Healthcare, Credit Union, ARM, and Energy verticals. Leveraging more than a decade of market experience, BillingTree is dedicated to growing payments with technology through an integrated omni-channel offering, suite of proprietary products and value-added services, and a company-wide focus on delivering extraordinary customer service. About REPAY REPAY provides integrated payment processing solutions to verticals that have specific transaction processing needs. REPAY's proprietary, integrated payment technology platform reduces the complexity of electronic payments for merchants, while enhancing the overall experience for consumers and businesses.

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CORE BANKING

Park National Bank Selects Predict360 Integrated Risk and Compliance Management Platform

360factors, Inc. | April 11, 2022

360factors, Inc. announced today that Park National Bank, a bank with $10B in assets headquartered in Newark, Ohio, selected 360factors' Predict360 risk and compliance intelligence platform to enhance its enterprise risk management program and streamline quarterly certifications and attestations for Sarbanes-Oxley. The bank will deploy 360factors' Predict360 solution suite, an artificial intelligence (AI)-powered platform that vertically integrates risks and controls, regulations and requirements, KRIs with risk insights, audit and examinations, policies and procedures, and more in a unified, cloud-based system. Predict360's SaaS architecture and modern technologies deliver predictive analytics, data insights for predicting risks and streamlined compliance. 360factors is especially thrilled to welcome Park National Bank to the 360factors family, Predict360 is ideal for growing financial organizations that require cost-effective, intuitive solutions that are easy to deploy and scalable." Carl L. McCauley, CEO for 360factors. As a risk and compliance solutions leader within the banking and financial services industries, 360factors continues to develop relationships with banks and financial services institutions seeking to remove inefficiencies while elevating their risk and compliance management programs. About 360factors, Inc. 360factors empowers organizations to accelerate profitability, innovation and productivity by predicting risks and streamlining compliance. Predict360, its flagship software product, is a Risk and Compliance Intelligence Platform augmented with A.I. technology to predict and mitigate risks while streamlining compliance. Predict360 integrates regulations and obligations, compliance management, risks and controls, audits and assessments, policies and procedures, and training in a cloud-based SaaS platform to provide predictive risk analytics and streamline compliance. 360factors is the endorsed solution provider for risk and compliance management by the American Bankers Association (ABA). About Park National Bank Headquartered in Newark, Ohio, Park National Corporation had $9.6 billion in total assets (as of December 31, 2021). Founded in 1908, it offers a full range of financial services in Ohio, Kentucky, and the Carolinas. The bank consistently earns high marks and awards for its service, community leadership, and financial performance.

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Spotlight

Saving costs, improving traceability and transparency are key drivers of blockchain investments Most blockchain deployments are still in the experimentation stage Consumer Products tops the list of the industries with one-sixth moving beyond Proofs Of Concept.

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