CI Financial Corp. reached an agreement to acquire Thousand Oaks Financial Corporation

PR Newswire | July 31, 2020

OCM Capital Partners LLC ("OCP"), a subsidiary of CI Financial Corp. (TSX: CIX) ("CI") of Toronto, announced today that it has reached an agreement to acquire Thousand Oaks Financial Corporation, a registered investment advisor firm based in Thousand Oaks, California operating under the name Professional Planning. Professional Planning offers financial planning and wealth management services and has approximately US$440 million in assets under management (as at June 30, 2020). Professional Planning's financial advisor team will integrate into the One Capital Management ("OCM") advisory team. This arrangement provides continuity for Professional Planning's clients while giving them and their advisors access to the additional services and support of a larger firm, said Patrick Bowen, OCM President. Professional Planning was founded by Melvyn Nachman in 1973 and its advisors have an average of 30 years of experience.

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CORE BANKING

Ingenico and Premise partner to deliver cashless inclusion in the Philippines

Ingenico and Premise | November 01, 2022

Ingenico, a global leader in payments acceptance solutions, announces a partnership with Premise, a payment-led embedded banking platform to provide integrated digital payment solutions and financial services to cash-driven micro merchants across the Philippines. Ingenico is Premise's preferred certified payment terminal provider, deploying the AXIUM DX8000. Running on Android, the terminal allows third-party software integration to enable digital payments for these micro-businesses. Premise will also scale its service offerings by linking to Ingenico's Payment Platform as a Service (PPaaS), a cloud-based platform to manage and deliver advanced payment and commerce services quickly and efficiently to terminals. In the Philippines, cash remains king as 65% of its population is still unbanked, amongst the highest in the APAC region. And a viable option for accessing the financial infrastructures is digital payments like mobile or digital wallets, requiring only a phone number and valid ID. In 2020, almost 25 million* Filipinos used mobile wallets to make or accept online payments, presenting a vast opportunity to tap into their existing behaviour offline. Premise's turnkey universal payment acceptance platform, which includes payment terminals, financial services capabilities, and regulatory licenses, removes businesses' reliance on banks for payments. The partnership between Premise and Ingenico opens an omnichannel payments acceptance platform by bringing alternative and cashless payment methods directly to the merchant's point of sale, emulating the online customer experience. "We are proud to partner with Premise and empower the micro-entrepreneurs by equipping them with digital and alternative payment solutions in their businesses. It allows them to facilitate their customers' transition from online payment methods to in-store and become the driving force for cashless inclusion in their community. This aligns with Ingenico's mission to help shape the evolution of commerce worldwide." -Nigel Lee, Ingenico's Senior Vice President for the Asia Pacific Gary Repchuk, Premise's founder, said, Ingenico has provided unparalleled levels of support to Premise during the integration of the AXIUM DX8000 and PPaaS by supporting our delivery of a terminal designed for a fully digital payments experience to cash-first Filipinos. Our designation as an Ingenico Technology & Channel Partner enables us to lead the market in delivering cashless inclusion to every corner of the Philippines. Premise shares Ingenico's vision of enabling this new world of commerce, and we look forward to working with them over the course of this and future partnerships. Through the alliance of technologies between Ingenico and Premise and a deep understanding of local behaviour and existing user experiences, the micro-businesses point-of-sale is now empowered with flexible, seamless solutions and promoting cashless inclusion across the depths of the informal economy. About Ingenico Ingenico is the global leader in payments acceptance solutions. As the trusted technology partner for merchants, banks, acquirers, ISVs, payment aggregators, and fintech customers, our world-class terminals, solutions, and services enable the global ecosystem of payments acceptance. With 45 years of experience, innovation is integral to Ingenico's approach and culture, inspiring our large and diverse community of experts who anticipate and help shape the evolution of commerce worldwide. At Ingenico, trust and sustainability are at the heart of everything we do. About Premise Premise is a Payment-led Embedded Finance Platform that is built on the fact that when all of your platform's transactions are processed within your platform's rails via your own bank-grade regulatory infrastructure, then integration costs and complexities for all financial products gradually disappear. This is the foundation for innovating banking exactly the way you want it, and this is why the future of finance begins with Premise. Premise is powered by Xpay.Worldwide Corporation (XPAY), including the maintenance of the following compliances: PCI-DSS L1 v3.2.1, AML, KYC, Data Privacy, Operator of a Payment System (Philippine Central Bank). XPAY is a Global Ingenico Channel and Technology Partner, as well as a Global Payment Facilitator and Third-Party Processor for Visa, Mastercard, JCB, and AMEX.

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WEALTH MANAGEMENT

Bambu offers Wealth Management Predictive Planning Solution for Microsoft Cloud for Financial Services and Microsoft Dynamics 365 Sales

Bambu | September 21, 2022

Bambu, a global wealth technology provider, today announced the launch of their Wealth Management Predictive Planning solution for Microsoft Cloud for Financial Services and Microsoft Dynamics 365 Sales. The service will enable Relationship Managers (RMs), Financial Advisors, Agents and firms in the financial sector to identify and prioritize their clients' needs through predictive analytics, empowering them to make informed financial decisions for the future. To build and solidify trusted relationships between users and their clients while increasing sales productivity, Wealth Management for Microsoft Cloud for Financial Services - a one-of-a-kind Wealth Management predictive planning solution - along with its counterpart, Wealth Management for Dynamics 365 Sales, were designed with an innovative proactive approach in mind. The system will enable users to predict and analyze key life events along with the ability to suggest achievable financial goals and solutions for future financial planning. Powered by A.I. and through the adoption of the Hidden Markov Model (HMM) and Generative Adversarial Network (GAN) Machine Learning models, both solutions will be able to generate thousands of timelines of future events and outlines based on demographic profiles and the four major aspects of life - marriage, family, career, and financial situation. On the launch of Bambu's Microsoft AppSource offers, Aki Ranin, Co-founder and COO of Bambu, said, "It is vital for us to move the game from reactionary, aspirational planning to proactive, realistic, and predictive planning. We hope to revolutionize and be at the forefront of the playing field to make it much easier for financial planning to be a priority." "Bambu wants to be the leader in the B2B wealth tech space. This relationship means a lot to us, not only from a brand perspective but also from a product scale standpoint. The opportunity to co-sell with Microsoft will help us progress toward our goal to be a leader in the B2B wealth technology space.'' - Ajay Kamath, Commercial Director, at Bambu We welcome Bambu to Microsoft's Business Application ecosystem and its Wealth Management offering integrated with Microsoft Cloud for Financial Services and Microsoft Dynamics 365 Sales, By making it easier for relationship managers, financial advisors and agents to access their data in one place, we are significantly reducing roadblocks that lead to friction and reduced ROI,says Toby Bowers, General Manager, Industry, Applications & Data Marketing at Microsoft. About Bambu Bambu is a leading global digital wealth technology provider for financial institutions. We enable companies to make saving and investing simple and intelligent for their clients. The cloud-based platform is powered by our proprietary algorithms and machine learning tools. Founded in 2016, Bambu is headquartered in Singapore with a subsidiary in the United Kingdom and the United States and EMEA representatives.

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FINTECH

Tonik recognized as one of the top fintechs in the world

Tonik | October 14, 2022

Tonik, the first neobank in the Philippines, claimed the honorable distinction as one of CB Insights' Top 250 most promising fintech companies worldwide. CB Insights, a business analytics platform and global database, releases annually their selection of the top 250 private fintech companies in the world. Selected from over 12,500 organizations, they are chosen based on factors such as funding, marketing potential, tech novelty, and CB Insights' proprietary mosaic scores, among others. Tonik was recognized as one of the most innovative and pioneering fintechs in digital banking, along with other game-changers such as Revolut, N26 and Monzo. Most remarkably, Tonik is one of only two Philippine companies in the list and is the only Southeast Asian fintech listed in the Digital Banking category. Carrying on its momentum from its commercial launch in 2021 as the Philippines' first purely digital bank, Tonik's industry-leading interest rates and unique and bespoke products provide Filipino customers an innovative, secure, and uncomplicated way to take charge of their money through Tonik's revolutionary proprietary app. This enabled the neobank to secure over PHP 8B (USD 133M) in deposits in its first year of operation, a historic feat for a new bank in the country and onboard more than half a million customers. The bank is now focused on rolling out a broad range of revolutionary digital consumer lending products, including cash loans, in-store loans, and most recently – home equity loans. "We are grateful to CB Insights for recognizing Tonik in this prestigious list. It is truly an honor to be listed among the most promising fintech companies in the world. This recognizes the importance of technology as the key in driving more productive, efficient, and inclusive banking services for retail customers in the emerging markets," - Tonik Founder and CEO Greg Krasnov About Tonik Tonik is the first digital-only neobank in the Philippines, providing loan, deposit, and payment products to consumers on a highly secure digital banking platform. The neobank operates on the basis of the first digital bank license issued by the Bangko Sentral ng Pilipinas (BSP). Tonik is led by a team of retail finance veterans who have previously built and scaled multiple retail banks and fintechs across global emerging markets. It is backed by top international investors, including Sequoia India, Point72 Ventures, and Mizuho Bank. Tonik's tech stack is integrated in partnership with world-class banktech vendors including Mastercard, Finastra, Amazon Web Services, Google, Genesys and Daon. Tonik operates out of hubs in Singapore (HQ), Manila, and Chennai.

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FINTECH

WireBarley Named to the 2022 CB Insights' Fintech 250 List

CB Insights and WireBarley Corp | October 07, 2022

Cross-border payment solution provider WireBarley Corp. was named a winner of the fifth-annual CB Insights Fintech 250 ranking, a prestigious list of the 250 most promising private fintech companies of the year. WireBarley has been recognized for its achievements in the Mobile Wallets & Remittances section. Among South Korea-based financial services platforms, WireBarley and Toss have been selected as the winners of this year. Established in 2016, WireBarley has expanded its presence among immigrants and students living abroad with its easy and low-cost mobile remittance service. WireBarley currently offers over 520 corridors for personal overseas remittance with 12 outbound and 45 inbound countries. WireBarley also offers cross-border remittance services for businesses of all sizes with strong compliance management system and FX transaction capability. WireBarley has expanded its overseas remittance-focused service to a cross-border payment service by launching the 'WireBarley Global Card' in Korea in partnership with Visa since July 2022. The company has been selected into Visa Fintech Fast Track Program and acquired principal membership with Visa. "We're honored to be recognized by CB Insights Fintech 250 list for the first time, As one of Asia's leading fintech companies, WireBarley has been solving pain points for more than 650,000 customers and 2,000 businesses worldwide. We will continue to deliver accelerated growth, disruptive innovation, and financial inclusion to enable convenient and borderless financial services around the world." -John Yoo, CEO of WireBarley Corp Through its efforts, WireBarley has been selected as the winner of the Financial Inclusivity sector at the G20 Digital Innovation Network (DIN) forum held in Bali, Indonesia in early September. This year's Fintech 250 winners are shaping the future of financial services, from payments and banking to investing and insurance, Representing more than 30 countries, these companies are creating safer and more efficient payment methods, and transforming how traditional banking, insurance and investing products are delivered. Together, they not only make financial services more convenient for users, but also make them available to more people, especially traditionally underserved populations around the globe,said Brian Lee, SVP of CB Insights' Intelligence Unit. The CB Insights research team selected these 250 winners from a pool of over 12,500 private companies, including applicants and nominees. They were chosen based on factors including R&D activity, proprietary Mosaic scores, market potential, business relationships, investor profile, news sentiment analysis, competitive landscape, team strength, and tech novelty. The research team also reviewed over 2,000 of Analyst Briefings submitted by applicants. Quick facts on the 2022 Fintech 250: Equity funding and deals: The Fintech 250 cohort has raised over $115B in equity funding across over 1,100 deals since the start of 2017 (as of 9/20/2022). In 2021 alone, winners raised over $51B across 337 equity deals. Unicorns: There are 159 companies with $1B+ valuations on the list. Global Reach: Globalization is a key theme for this year's Fintech 250. The winners represent 33 different countries across the globe - 7 more than last year. Just over half (53%) of the selected companies are headquartered in the US, which is the fewest we've seen in the Fintech 250 since 2017. The UK came in second with 31 winners (12%), followed by India with 14 (6%), Brazil with 9 (4%), and Germany with 7 (3%). About CB Insights CB Insights builds software that enables the world's best companies to discover, understand, and make technology decisions with confidence. By marrying data, expert insights, and work management tools, clients manage their end-to-end technology decision-making process on CB Insights. About WireBarley Corp. Established in 2016, WireBarley Corp. grew exponentially with a strong foothold in the Asia Pacific region. Recently, WireBarley has further strengthened its presence as a global brand with its expansion into the U.S. and Canada markets, for the first time as a Korean overseas remittance company. Headquartered in South Korea, it has multiple subsidiaries overseas, namely Australia, New Zealand, Singapore, Hong Kong, and the U.S. WireBarley's FX and corporate treasury center in Hong Kong, which is one of the largest FX trading hubs in the world, plays a crucial role in enabling effective FX management and strong compliance practicality and formulating strategic partnerships with critical banks and payment player. With 12 outbound and 45 inbound countries, WireBarley currently offers over 520 corridors for personal remittance. The company recently adopted the B2B remittance platform, e-wallet service and multi-currency card; it seeks to be not only Asia's leading remittance company but to leap forward to become a global total payment platform.

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Bankruptcies affect people from all walks of life. Married, divorced, single, with children or without, the truth is that more than 44,000 households in Ontario each year find themselves needing to turn to an Ontario bankruptcy trustee to file for insolvency.

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