GuideOne Insurance Receives Celent 2016 Model Insurer Award

GuideOne Insurance | April 14, 2016

WEST DES MOINES, Iowa – (April 14, 2016) – GuideOne Insurance today announced that it was recognized as a 2016 Model Insurer by Celent, a global research and advisory firm for the financial services industry. This award was given to GuideOne for its exemplary work in legacy transformation during the Celent Insight and Innovation Day on April 13 in New York City.

Spotlight

The first map on the infographic is the cryptocurrency regulation map, which is a rather simple, but important aspect of the crypto industry that people should be considering. Simply taking a look at the map would allow an average person to see how conflicted the world is about cryptocurrencies, still. The majority of the world remains in the gray about it.


Other News
BITCOIN AND CRYPTO

Foundry Joins the Blockchain Association to Help Shape Regulatory Future of Crypto Industry

Foundry Digital LLC | March 08, 2022

Foundry Digital LLC ("Foundry"), a wholly-owned subsidiary of Digital Currency Group (DCG) focused on digital asset mining and staking, is proud to announce its membership with the Blockchain Association, a member-led organization dedicated to improving the public policy environment for digital assets. This announcement is part of Foundry's mission to highlight the transformative potential of decentralized blockchain technologies and the infrastructure that makes cryptocurrencies, such as Bitcoin, the most secure and egalitarian computer networks in the world. With over 70 members, Blockchain Association combines its network and intel to create unique, meaningful policy with industry consensus. Foundry will leverage Blockchain Association's singular platform, blending industry insights and legal analysis, to inform lawmakers of the economic growth and technological innovations the crypto industry will continue to bring to the job market and electrical grid. Together, Foundry and Blockchain Association will help shape the regulatory future of the burgeoning crypto industry and work diligently to promote Foundry's principles of technological advancement and universal access to wealth in the United States. Foundry and its clients have grown rapidly and expanded operations in various regions that are often overlooked, demonstrating the type of economic development and community revitalization the crypto industry can bring to these regions, Blockchain Association will help us carry this message of success and growth to Washington, where lawmakers can help replicate our success in communities across the country." Kyle Schneps, Director of Public Policy at Foundry. The Blockchain Association, the collective voice of the crypto industry, is proud to welcome Foundry as its newest member, As a leading U.S.-based company who provides digital currency miners and stakers tools to build tomorrow's decentralized infrastructure, Foundry will bring unique insight to the association and to our conversations in Washington." Kristin Smith, Executive Director of Blockchain Association. About Foundry Digital LLC A subsidiary of DCG, Foundry Digital LLC was created to meet the institutional demand for better capital access, efficiency, and transparency in the digital asset mining and staking industry. Headquartered in Rochester, NY, Foundry leverages its institutional expertise, capital, and market intelligence to empower participants within the crypto ecosystem by providing the tools they need to build tomorrow's decentralized infrastructure.

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CORE BANKING

Mascoma Bank Selects Alkami as its Digital Banking Platform Partner

Alkami | April 13, 2022

Alkami Technology, Inc. (Nasdaq: ALKT) ("Alkami"), a leading cloud-based digital banking solutions provider for banks and credit unions in the U.S., today announced that Mascoma Bank ("Mascoma") has selected Alkami's digital banking platform as part of a full technology stack overhaul with core banking technology firm Thought Machine. This will not only drive future growth for Mascoma, but also serve as a model for other community banks to build upon. We are building an innovative ecosystem that will allow us to better serve our existing customer base, attract new customers and grow strategically into the future, Our Chief Technology Officer, Raphael Reznek, challenged us to rethink how we use technology and the importance of building an embedded finance system. As a result, instead of replacing our existing core, we set out to completely revamp our tech stack to incorporate the most advanced systems. We chose to partner with Alkami because they offer the best balance of deep extensibility with robust 'out of the box' capabilities and configurations." Clay Adams, president and chief executive officer of Mascoma Bank. The Alkami platform will be integrated with Thought Machine's core banking platform, Vault, to provide a complete cloud-based banking platform that is capable of being easily configured and scaled. Mascoma will be able to get to market quickly and have the ability to customize based on the bank's unique needs using a modern API architecture and real-time data. Mascoma is a community bank to watch. They are undergoing a true digital transformation, and we are thrilled to be a part of it, Their digital-first mindset is helping them build a foundation that will allow them to innovate and adapt—fueling the future of community banking as a whole." Alkami's chief executive officer, Alex Shootman. Raphael Reznek along with our leadership team has a vision to build a digital platform that will put us in control of our destiny and serve as a roadmap for other community banks to follow. The new tech stack more than answers that call, I am particularly excited for Alkami's data insights, which will allow us to provide tailored experiences to further empower our customers on their financial journeys." Samantha Pause, chief marketing and product officer at Mascoma. About Mascoma Bank Headquartered in Lebanon, New Hampshire, Mascoma Bank is a $2.6 billion mutual bank and Certified B-Corporation® with 28 branches and 2 loan offices throughout Northern New England. Mascoma Bank was founded in 1899 by community members seeking ways to establish a healthy local economy. For over 122 years, Mascoma Bank's foundation of mutuality has continued to be a force for positive change supporting communities to reach thriving sustainability. Mascoma Bank has made a strong commitment of utilizing technology to help support its mission and values of putting the customer at the center of its work. About Alkami Alkami Technology, Inc. is a leading cloud-based digital banking solutions provider for financial institutions in the United States that enables clients to grow confidently, adapt quickly and build thriving digital communities. Alkami helps clients transform through retail and business banking, digital account opening, loan origination, and multi-payment fraud prevention solutions.

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PAYMENTS

OwlPay Partners with Nium to Launch Global B2B Cross-Border Payment Service

OwlTing Group | May 11, 2022

OwlTing Group, a global blockchain services company, today announced a partnership with Nium, the global platform for modern money movement, to power OwlPay, OwlTing's new real-time cross-border payments service for e-commerce and travel platforms in Southeast Asia. OwlPay provides a one-stop financial services integration service for global B2B transactions. The new service covers automatic reconciliation, online currency swaps, and cross-border payment services, to streamline traditional payment processes and significantly enhance operational efficiency for enterprises. Using developer-friendly APIs, OwlPay connects to business' internal management systems and provides a one-stop service for the administration of orders and providers, financial reconciliation, online audit, and payment process automation. In addition, Nium's competitive exchange rate, extensive settlement network, and support of more than 100 currencies with online currency exchange adds a unique advantage for businesses to complete real-time international remittance on the web interface. We are optimistic about the benefits OwlPay brings to global enterprises, cross-border e-commerce platforms, as well as online travel agencies (OTAs) offering various products and services. OwlPay's partnership with Nium provides a new B2B payment experience. OwlPay not only allows enterprises to integrate cash flow and information flow, but helps them achieve operational excellence without the need to build an internal payment infrastructure that costs extra time and effort. It is estimated that OwlPay can save up to 50% labor cost for the financial team, Currently, the average cross-border remittance fee falls between 25 to 30 USD per transaction, while OwlPay charges lower than 10 USD with same-day settlement. Payees can receive full payments even for a small amount, which makes OwlPay a faster and cheaper payment solution tailored to the needs of global enterprises. In addition, OwlPay supports six currencies for deposit, and the funds can be directly exchanged to local currency for payouts. By depositing funds to designated accounts in Singapore or Hong Kong in advance, enterprises can leverage OwlPay's worldwide network and payout to global vendors in just a few clicks. Singapore- and Hong Kong-based enterprises can even enjoy further cost reduction through domestic deposits and experience OwlPay's powerful services instantly." Una Peng, Senior Manager of OwlPay. OwlTing will first target Southeast Asia, where the digital economy is fast growing. As pointed out in the Southeast Asia Digital Economy Trend Report released by Google, Temasek Holdings, and Bain & Company, the Internet penetration rate in Southeast Asia in 2021 was up to 75%. The Gross Merchandise Volume (GMV) of the internet economy was up to 174 billion USD, and it is expected to reach 363 billion USD in 2025. As a leading blockchain company, we're actively looking for global partners to make B2B payments faster and cheaper. We are very pleased to cooperate with Nium to grow from domestic financial services to multi-currency, cross-border payments services. OwlPay's services will expand from Asia to North and South America, and Europe. With OwlPay, we aim to help global enterprises enhance operational and capital arrangement efficiency with a new type of payment and send real-time remittances to other countries with ease. We plan to introduce stablecoins and various settlement networks to explore the infinite possibilities of financial innovation and digital payment development." Darren Wang, Founder and CEO of OwlTing Group. About OwlTing Blockchain Payment Service – OwlPay OwlPay provides a one-stop integration payment service for global enterprises. Through developer-friendly APIs, OwlPay integrates functions including reconciliation, mass transfers, auto payouts to innovate B2B cross-border transactions for real-time settlement and clearance. OwlPay charges lower than 10 USD per transaction with same-day settlement, which makes OwlPay a faster and cheaper payment solution tailored to the needs of global enterprises. OwlPay aims to create a new FinTech experience to help enterprises enhance operational efficiency and save labor cost. About OwlTing Group Founded in 2010, OwlTing Group covers B2B, B2B2C, and B2C services. As a Taiwan-based company, OwlTing has branch offices in the US, Japan, Thailand, Malaysia, Hong Kong, and Singapore, and seeks to expand globally. In 2018, OwlTing announced an eight-figure USD investment from Japanese financial giant SBI Group. In recent years, OwlTing has formed partnerships with government, industry, and academia globally and applied the blockchain technology to the medical industry, automotive industry, defense industry, food industry, forestry, agriculture, etc. OwlTing aims to build blockchain services for various industries.

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FINTECH

IDT Acquires Sochitel, A Global FinTech and Digital Distribution Business

IDT | January 21, 2022

IDT Corporation (NYSE: IDT), a global provider of fintech, cloud communications, and traditional communications services, announced today that it has acquired a majority stake in Sochitel, a global hub and digital distribution platform for mobile top-up, electronic vouchers, and other value transfer services. Headquartered in London and Lagos, Sochitel has a deep footprint across Africa interconnecting Mobile Network Operators, banks, and financial service providers. Sochitel’s fintech platform empowers the continent’s leading banks to deliver digital, value-added services to over 60 million customers across Africa and supplies its services to corporate clients worldwide. IDT and Sochitel will leverage their combined capabilities to expand the reach of IDT’s current digital offerings, including mobile top-up and money transfers into Africa, and to support future offerings including bill payment and e-vouchers. Our combination with Sochitel significantly expands and streamlines our distribution network in key African markets, broadens our mobile top-up platform with new digital services, and provides access to a significant new base of partners and clients as we continue to grow our global value transfer businesses.” Emilio del Rio, Senior Vice President of Prepaid Services at IDT. We are delighted to join the IDT family. Africa is enjoying unprecedented growth while pacing the world in the adoption of digital fintech solutions. Combining our strength and depth in the African market with IDT’s distribution capabilities positions us for significant expansion as we further integrate Africa with the global marketplace.” Jerry Ejikeme, CEO of Sochitel. Africa, with a population of over 1.2 billion and some of the developing world’s most dynamic economies, represents a significant growth opportunity for the mobile financial service sector. According to the Global System for Mobile Communications (GSMA), Sub-Saharan Africa alone is home to half of the world’s mobile money services and generates two-thirds of global mobile money transactions value. Increasing mobile penetration, a scarcity of traditional transaction infrastructure, and the region’s rapidly evolving mobile payments infrastructure are creating tremendous opportunities for financial service providers to unlock significant value. About IDT Corporation: IDT Corporation (NYSE: IDT) is a global provider of fintech, cloud communications, and traditional communications services. We make it easy for families to communicate and support each other across international borders. We also enable businesses to transact and communicate with their customers with enhanced intelligence and insight. About Sochitel: Headquartered in London and Lagos, Sochitel has a strong pan-African footprint supplying digital products and services to major banks and Mobile Money Operators in over 20 countries, as well as corporate clients across the world. Its leading FinTech platform enables financial and corporate partners to offer an extensive and growing range of digital products that supports their customers’ daily activities.

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Spotlight

The first map on the infographic is the cryptocurrency regulation map, which is a rather simple, but important aspect of the crypto industry that people should be considering. Simply taking a look at the map would allow an average person to see how conflicted the world is about cryptocurrencies, still. The majority of the world remains in the gray about it.

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