FINTECH

HUBUC Joins Mastercard Fintech Express Program Fostering Innovation in the Fintech and B2B SaaS Sectors in Europe

Mastercard | September 17, 2021

HUBUC, an embedded financial services powerhouse backed by Y-Combinator, is pleased to announce that it is now an official partner of Mastercard through the Fintech Express program. Mastercard works with fintech companies through all stages of growth and transformation – market entry, expansion, product development, diversification and innovation and connects them with partners like HUBUC to find new ways to innovate. These partnerships will help new Fintech and B2B SaaS products to emerge in Spain, Germany, France and other European countries.

Through this partnership, HUBUC can provide a single component or the integration of a full set of embedded finance components to support each step of the digital end-consumer journey all the way from card usage to management, and engagement of customers.

A next generation embedded financial services company with a keen focus on B2B Software-as-a-Service (SaaS), HUBUC’s innovative platform with Mastercard as the partner of choice, can help improving new customer’s existing product offering with secure and programmable virtual and physical cards to:
  • Improve business spending management
  • Offer unique employee benefits
  • Facilitate flexible salary payouts
For HUBUC, teaming with Mastercard through the Fintech Express program is an ideal fit, particularly as it relates to HUBUC’s desire to support innovative companies in Spain, Germany, France as well as throughout Europe that are interested in having a payment product as a part of their core business and are looking for accelerated time-to-market.

This will benefit companies looking to integrate payment products for uses such as:
  • Digital payments
  • Corporate expense management
  • Benefit/loyalty programs
Additionally, HUBUC's exposure to clients in the European Union and the UK makes it a potential partner for any Fintech and B2B SaaS company located in this region. By partnering with such essential companies like Mastercard, HUBUC is staying close to the core of the payment industry.

“Partnering with Mastercard through the Fintech Express program is the latest milestone for HUBUC, a move that allows us to further expand our footprint in Spain and throughout the European Union and the United Kingdom,” said HUBUC CEO Hasan Nawaz. “Through this partnership with Mastercard, HUBUC is working with a global leader, allowing us to work within world’s epicenter for financial services and payments overall.”

“Mastercard is thrilled to welcome HUBUC to our program as we work together to transform the future of commerce and expand new innovative payment solutions across Europe. This is a great partnership since we both support innovation, better payment experiences and new possibilities for other players in the ecosystem”, said Jason Lane, Executive Vice President, Market Development for Mastercard Europe.

About HUBUC
HUBUC is an embedded financial services provider that allows businesses to access all services through one platform, with the ability to go live within weeks. HUBUC enables clients to embed the financial services they need to grow their business, including card issuance, bank account opening and KYC processes in 54 countries, IBAN / VAN issuance, money transfer, FX services, dynamic spending controls and real-time notifications. HUBUC also manages full regulatory compliance and on-boarding complexities on behalf of its business partners. It can onboard customers within days - significantly reducing additional time and cost investments required and enabling them to bring payment capabilities to market faster.

About Mastercard
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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Other News
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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CORE BANKING

ORNL Federal Credit Union Partners with Alkami to Power Its Digital Banking Experience

Alkami | April 22, 2022

Alkami Technology, Inc. (Nasdaq: ALKT) ("Alkami"), a leading cloud-based digital banking solutions provider for banks and credit unions in the U.S., announced today that ORNL Federal Credit Union ("ORNL FCU") is implementing the Alkami Platform to amplify its digital banking experience with leading-edge digital tools and technology designed to help their members thrive. Our mission was to find a true, single platform that is innovative, customizable and offers a seamless user experience for our members, After vetting several providers, we chose to partner with Alkami because they brought the most advanced digital banking experience to the table and have a proven track record of continuous innovation and stability. Their ongoing guidance will help us stay ahead of the curve and empower our members to get the most out of their digital banking experience." Dawn Brummett, executive vice president and COO of ORNL FCU. ORNL FCU's digital channel saw an 24.2% increase over the past two years, making it the largest "branch" of the credit union and bringing its active participation rate to 57% across its member base. This growth is expected to accelerate with the launch of the Alkami platform, which will improve the existing user experience and introduce new features and functionality that will attract new users. We are thrilled to have ORNL FCU join the growing Alkami family. Our clients are among the most progressive financial institutions in the country, and ORNL FCU stands out as a leader in the space. It is exciting to have such dedicated and visionary clients whose digital-first mindset helps us push the envelope on what we can deliver to help fuel their growth." Alkami's chief executive officer, Alex Shootman. ORNL FCU is committed to providing our members with a best-in-class digital banking experience. From money movement and credit monitoring to online loan applications and Bitcoin services, our new platform helps us deliver on that promise, And, knowing we are partnering with a platform provider that has the knowledge, partnerships and extensibility to continue growing with us strategically ensures our ability to effectively cater to our members' digital needs now and into the future." ORNL FCU CEO Colin Anderson. About ORNL Federal Credit Union ORNL Federal Credit Union is a not-for-profit financial cooperative locally owned and operated by its members for the benefit of all who belong. Established in 1948 with 10 founding members, ORNL FCU's assets have grown to over $3.3 billion and membership has grown to over 185,000. Membership is open to businesses and anyone who lives, works, worships, or attends school in 19 counties of East Tennessee. 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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BITCOIN AND CRYPTO

NCR Completes Acquisition of Cryptocurrency Leader LibertyX

NCR | January 17, 2022

NCR Corporation (NYSE: NCR), a global enterprise technology provider, today announced the completion of the previously announced transaction to acquire LibertyX, a leading cryptocurrency software provider. LibertyX is a strong strategic fit for NCR because it accelerates NCR’s ability to rapidly deliver a complete digital currency solution to its customers, including the ability to buy and sell cryptocurrency, conduct cross-border remittance, and accept digital currency payments across digital and physical channels. The completion of this transaction enhances our ability to provide digital currency solutions and capabilities that help run our customers’ businesses. We are pleased to welcome LibertyX and its outstanding team to NCR.” Don Layden, EVP & President, Payments & Network, NCR Corporation. The LibertyX digital currency solution runs on ATMs, kiosks and point-of-sale (POS) systems today. LibertyX partners with ATM operators, like NCR’s Cardtronics, who owns and manages ATMs and the Allpoint network in the U.S. at locations like convenience stores, pharmacies, and supermarkets. Moving forward, NCR will utilize its Pay360 platform to offer the LibertyX capabilities as part of its solutions for banks, retailers and restaurants. NCR Pay360 provides financial institutions a secure way to enable cash-in and cash-out transactions from their mobile banking app, website, or even customer service centers. On August 2, 2021, NCR and LibertyX announced that they had entered into a definitive agreement under which NCR would acquire LibertyX. The transaction includes LibertyX’s cryptocurrency remittance business, LibertyPay. Financial terms of the transaction were not disclosed. About NCR Corporation NCR Corporation (NYSE: NCR) is a leading enterprise technology provider that runs stores, restaurants and self-directed banking. NCR is headquartered in Atlanta, Ga., with 38,000 employees globally. NCR is a trademark of NCR Corporation in the United States and other countries.

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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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Spotlight

In this video, we look into the capital structure: defining it and understanding it. We focus on the weighted average cost of capital and the debt to equity ratio, with a case study based on General Electric.

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