FINTECH

Credit Suisse and Klara Collaborate on B2b Open Banking

Credit Suisse | July 06, 2021

Credit Suisse will collaborate with Klara on new open banking alternatives.

Both firms have been focusing on developing solutions and providing value for their corporate clients, such as seamlessly sharing payment information and online credit applications.

According to the announcement, private clients of Credit Suisse will be able to begin digital payments through a one-time opt-in process as a result of the cooperation.
These customers can then connect their accounts to the ePost app.

Furthermore, Klara's ePost will be able to communicate with Credit Suisse's online banking system, allowing it to streamline payments for customers.

“By providing open banking services, we are building an integrated, customised client experience,” said Anke Bridge Haux, Credit Suisse AG's head of Digital Banking. “In collaboration with Klara, we are now offering payment capabilities to our private clients using interface technology. It is simple, frictionless, secure, and available whenever clients want it on a daily basis.”

According to the announcement, Credit Suisse finalised US-listed equity deals on the same day as financial institution building business Paxos.

Spotlight

The U.S. economy is expected to grow below two percent in 2016, but growth should accelerate next year as the drag from investment and net exports diminishes. Higher infrastructure spending and tax cuts proposed by the new administration are expected to start supporting growth in 2018.


Other News
PAYMENTS

AXES CHOOSES BLUEBERRY PAYMENT SOLUTIONS AS OPEN LOOP CASHLESS PROVIDER FOR THE EUROPEAN UNION

AXES.ai | April 23, 2022

AXES.ai ("AXES" or the "Company") is pleased to announce that it has formed a strategic alliance with Cyprus-based Fintech Blueberry Payment Solutions to offer the AXES European client base an integrated Open Loop cashless eWallet. The Blueberry Payment Solutions eVoucher, eWallet, Card, and IBAN Cloud Account is already integrated with the AXES Butler Closed Loop eWallet, Loyalty, Rewards and Engagement APP, for Merchants and Clients. AXES has the most advanced, secure and complete closed loop cashless platform in the global land-based gaming industry, The Blueberry Payment Solutions platform, technology, licenses, IP and certifications will empower AXES European Clients to instantly transfer funds to their AXES closed loop wallet and to AXES Casino Float Accounts. This powerful partnership will rapidly evolve the fintech performance and possibilities of the land-based gaming industry, and we are very excited to offer the power of the Blueberry Payment Solutions to the AXES client base." Rhyan Bridle, Founder & CTO of Blueberry Payment Solutions. Blueberry Payment Solutions is a perfect fit for AXES, Blueberry Payment Solutions truly understands that a casino eWallet is a personal player to casino relationship based on loyalty, engagement and rewards. We are grateful to Blueberry Payment Solutions for having customized their product offering to align with our strategy to support our European AXES clientele to ensure they have the most powerful engagement strategy in the global land-based casino gaming market. We look forward to evolving our product base with Blueberry Payment Solutions as we integrate multiple forms of payment, funding and financial instruments" Earle G. Hall, President & CEO of AXES.ai. ABOUT Blueberry Payment Solutions Blueberry Payment Solutions is an Electronic Money Institution (EMI) authorized for the distribution of e-Money. Offering an alternative banking platform, Blueberry Payment Solutions, allows the community a safe place to send, receive, hold and invest, with absolute confidence and reliability. The all-encompassing platform empowers merchants, corporations, and end-user clients to perform their day-to-day payments and banking operations. Blueberry Payment Solutions draws on the adroitness of cloud technology to guarantee the highest security and availability of its solution. Currently, in 11 countries, Blueberry Payment Solutions has an offering for both land-based and online merchant services, ensuring the power of personalized banking is not compromised.

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CORE BANKING

DR BANK ANNOUNCES PARTNERSHIP WITH BOMBAS

DR Bank | May 23, 2022

DR Bank is proud to partner with premium basics brand Bombas through their internal Giving Initiative program by donating 1,000 pairs of Bombas donation socks. Bombas is a comfort-focused, digitally native brand that provides elevated basics and helps those in need. The company was originally founded in 2013 because socks are the #1 most requested clothing item at homeless shelters. For every item purchased, a specially designed item is donated to the homeless community. DR Bank chose to donate these socks to two local organizations, Person to Person and New Covenant Center. Person to Person is a Darien, CT based organization that serves lower Fairfield County providing groceries, clothing, care programs, emergency assistance, and more to anyone in need. We are so grateful to DR Bank and Bombas for this wonderful donation. These are beautiful, good quality socks and the people we serve will be so grateful to have them. We applaud this company and all others who commit themselves to giving back to the community." Nancy Coughlin, Chief Executive Officer. The New Covenant Center is a Stamford, CT based organization that provides food and services to the local homeless population. "New Covenant Center is grateful to accept the 500 adult-sized pairs of socks donation from DR Bank and the partnership they have with NYC apparel company, Bombas. DR Bank has been a longtime supporter of New Covenant and we're excited to have them onboard - focusing on our Toiletry Program for our Café clients." John Gutman, Executive Director. To be able to partner with such a socially conscious organization like Bombas to benefit two great local charities, is a wonderful opportunity for the Bank! DR Bank has been giving back to local charities throughout Fairfield County since we opened our doors in 2006 We hope to do much more of this in 2022 and years to come!" John Barbalaco, EVP & Chief Banking Officer. DR Bank DR Bank is headquartered in Darien with a branch in Rowayton. They offer the same customer service and attentiveness of a community bank with the financial services and technology of a larger bank. Whether you're stopping by, or banking on the go, their team of experts are there to help. They are committed to long-term relationships and offer the conveniences and financial services you expect from a larger bank, with the incredible rates, safety, and personal attention you won't find anywhere but home.

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PAYMENTS,BLOCKCHAIN

SGH to Acquire Stratus Technologies

SGH | June 30, 2022

SMART Global Holdings, Inc. (“SGH” or the “Company”) (Nasdaq: SGH) today announced that it has entered into a definitive agreement with affiliates of Siris Capital Group, LLC, to acquire Stratus Technologies (“Stratus”), a global leader in simplified, protected, and autonomous computing solutions in the data center and at the Edge. Under the terms of the agreement, SGH will pay $225 million in cash at closing and an earn-out payment of up to $50 million, based on the gross profit performance of the Stratus business during the first full 12 fiscal months of Stratus following the closing. Consistent with the Company’s existing lines of business, Stratus delivers differentiated technology solutions to specialty end markets. In particular, the addition of Stratus’ high-availability, fault-tolerant computing platforms, software, and services will expand the Company’s Intelligent Platform Solutions (“IPS”) business to better serve Stratus and IPS customers worldwide. This transaction builds upon our successful track record of M&A at SGH, The high-availability and fault-tolerant capabilities of Stratus will expand our IPS offerings in Edge, Core, and Cloud, and will enable us to more comprehensively address our combined customers’ needs. We look forward to welcoming the Stratus team to SGH.” Mark Adams, CEO of SGH. About Stratus For leaders digitally transforming their operations to drive predictable, peak performance with minimal risk, Stratus ensures the continuous availability of business-critical applications by delivering zero-touch Edge Computing platforms that are simple to deploy and maintain, protected from interruptions and threats, and autonomous. For 40 years, we have provided reliable and redundant zero-touch computing, enabling global Fortune 500 companies and small-to-medium sized businesses to securely and remotely turn data into actionable intelligence at the Edge, Cloud and Data Center – driving uptime and efficiency. About SGH At SGH, our companies are united by a drive to raise the bar, execute with discipline and focus on what’s next for the technologies that support and advance the world. Across computing, memory, and LED lighting solutions, we build long-term strategic partnerships with our customers. Backed by a proven leadership team, we operate with excellence around the globe while unlocking new avenues of growth for our business and industry. About Siris Siris is a leading private equity firm that invests primarily in mature technology and telecommunications companies with mission-critical products and services, facing industry changes or other significant transitions. Siris' development of proprietary research to identify opportunities and its extensive collaboration with its Executive Partners and Advisors are integral to its approach. Siris' Executive Partners and Advisors are experienced senior operating executives that actively participate in key aspects of the transaction lifecycle to help identify opportunities and drive strategic and operational value. Siris is based in New York, Silicon Valley and West Palm Beach, and has raised nearly $6 billion in cumulative capital commitments.

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FINTECH

Mastercard SpendingPulse: U.S. Retail Sales Grew 8.5%* This Holiday Season

Mastercard | December 27, 2021

It’s been a resurgent season for retailers as consumers stocked their carts with gifts and gadgets. According to Mastercard SpendingPulseTM, holiday retail sales excluding automotive increased 8.5% year-over-year this holiday season, running from November 1 through December 24. Notably, online sales grew 11.0% compared to the same period last year, the preliminary insights show. Mastercard SpendingPulse measures in-store and online retail sales across all forms of payment. Shoppers were eager to secure their gifts ahead of the retail rush, with conversations surrounding supply chain and labor supply issues sending consumers online and to stores in droves,” said Steve Sadove, senior advisor for Mastercard and former CEO and Chairman of Saks Incorporated. “Consumers splurged throughout the season, with apparel and department stores experiencing strong growth as shoppers sought to put their best dressed foot forward.” Findings from Mastercard SpendingPulse underscore the strength of the holiday shopper across channels, with consumers returning to stores (+8.1% YOY), and e-commerce continuing to expand, up 11.0% compared to 2020. Additional key findings include: Consumers shopped early: Continuing a key trend from 2020, U.S. consumers shopped earlier than in years past, as retailers offered special promotions early and then again later in the season as shoppers raced to secure “guaranteed by Christmas” shipping offers. Looking at Mastercard’s expanded holiday season, total retail sales were up +8.6%* YOY for the 75 days between October 11 and December 24. Thanksgiving weekend remained key: Black Friday marked the top spending day of the 2021 holiday season yet again. For the Thanksgiving weekend running Friday, November 26 through Sunday, November 28, shoppers drove U.S. retail sales up +14.1% YOY. In-store sales also rebounded, increasing +16.5% YOY while e-commerce sales experienced sustained growth, up +4.9% YOY. Smaller boxes had a big impact: Whether consumers were shopping for themselves or for loved ones, the Jewelry sector experienced some of the strongest YOY and YO2Y growth. E-commerce sales snowballed: This holiday season, e-commerce made up 20.9% of total retail sales, up from 20.6% in 2020 and 14.6% in 2019. The channel continues to experience elevated growth as consumers enjoy the ease of holiday browsing and buying in the comfort of their own homes. About Mastercard SpendingPulse: Mastercard SpendingPulse reports on national retail sales across all payment types in select markets around the world. The findings are based on aggregate sales activity in the Mastercard payments network, coupled with survey-based estimates for certain other payment forms, such as cash and check. Mastercard SpendingPulse defines “U.S. retail sales” as sales at retailers and food services merchants of all sizes. Sales activity within the services sector (for example, travel services such as airlines and lodging) are not included. Holiday spending insights are preliminary. About Mastercard (NYSE: MA) 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.

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Spotlight

The U.S. economy is expected to grow below two percent in 2016, but growth should accelerate next year as the drag from investment and net exports diminishes. Higher infrastructure spending and tax cuts proposed by the new administration are expected to start supporting growth in 2018.

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