Raistone and Quartix | October 19, 2022
Raistone today announced it has entered a new supply chain finance partnership with Quartix to provide out-of-the-box digital cash flow opportunities to mid-market companies that have long been deprived adequate innovative funding solutions from banks and legacy financial institutions.
Quartix and Raistone have partnered to combine cutting-edge financial technology and efficient capital to offer new financial tools to mid-market manufacturing and distribution clients, enabling them to access cash and support their supply chain amid a turbulent economic environment. By leveraging supply chain finance programs made possible through Raistone and its network of investors, clients using the Quartix trade-finance platform have unparalleled access to non-debt capital solutions that were previously only available to Fortune 1000 giants.
Supply chain finance enables companies to retain cash on hand for longer periods of time by extending payment terms with vendors without adverse effect on their supply chain. By using this established solution, companies are able to lower their cash conversion cycle and unlock cash from their supply chain to improve their financial position so they can hire new personnel, buy more product, expand their business, make acquisitions, and much more.
"With inflation skyrocketing and interest rates following in lockstep, it's more important than ever for businesses to improve efficiency and reduce waste, including on their balance sheet, We at Raistone are proud to align with Quartix to help mid-market companies unlock the potential of their payables, at a time when those businesses need it most."
-Dave Skirzenski, CEO of Raistone
The great majority of US financial institutions cannot offer supply chain finance to their mid-market clients due to the need for specialized technology and operational capabilities, By partnering with Raistone we can help unlock the benefits of supply chain finance to more and more mid-market manufacturers and distributors with credit facilities that we expect to reach $20 million and beyond,said Dror Polak, CEO of Quartix.
Raistone was born with the vision of equalizing access to working capital and meeting the demand for financing on a global scale. A world-leading fintech collaboratively owned by a full-service broker dealer, $30 billion family office, a $900 billion wealth manager, and an international bank, Raistone enables the financing of billions of dollars in transactions every year. Its best-in-class technology coupled with unparalleled access to institutional capital extends financing to companies of all sizes, fully integrated with the same software platforms they already use. Raistone works to ensure that all businesses have access to their money, on their terms.
Founded in 2017 and based in Charlotte, NC with offices in Tel Aviv, Israel, Quartix's (www.GoQuartix.com) allows financial institutions to offer innovative digital specialty finance products to their mid-market clients, without investing in technology or operational headcount. Financial institutions that use Quartix increase wallet share vis-à-vis their commercial clients, capture higher than average risk-adjusted returns and offer a differentiated suite of trade-finance products to their commercial clients.
AAG | September 29, 2022
Great Place to Work® and Fortune have honored American Advisors Group (AAG) as one of the 2022 Best Workplaces in Financial Services & Insurance™. Earning a spot means that AAG is one of the best companies to work for in the country.
The Best Workplaces in Financial Services & Insurance award is based on analysis of survey responses from more than over 176,000 employees from Great Place to Work-Certified™ companies in the financial services and insurance industry
"It's an honor to be named a Great Place to Work and we are so grateful for our dedicated employees who have made us a part of this list, AAG is truly a very special place, where we do extraordinary things for seniors, so they can achieve a better retirement."
-Rebecca Pacillas, AAG Chief People Officer
AAG is committed to building its Caring, Driven, and Ethical culture through employee engagement, competitive compensation, and professional development. AAG recently launched One AAG, an internal sharing initiative focused on diversity, equity, and inclusion. One AAG invites its employees to share their real stories and experiences through internal company newsletters and discussion panels to create a space where diverse perspectives, cultures, and values are celebrated.
In 2022, AAG was endorsed for multiple corporate accolades including Best Workplace for Millennials. AAG was also recognized by Inspiring Workplaces and awarded Arizona Top Workplaces in 2022.
AAG is headquartered in Irvine California.
About the Best Workplaces in Financial Services & Insurance™
Great Place to Work® selected the Best Workplaces for Financial Services & Insurance™ by gathering and analyzing confidential survey responses from more than 176,000 employees from Great Place to Work-Certified™ companies in the financial services and insurance industry. Company rankings are derived from 75 employee experience questions within the Great Place to Work® Trust Index™ survey. Great Place to Work determines its lists using its proprietary For All™ methodology to evaluate and certify thousands of organizations in America's largest ongoing annual workforce study, based on over 1 million survey responses and data from companies representing more than 6.1 million employees, this year alone. Read the full methodology.
About Great Place to Work®
Great Place to Work® is the global authority on workplace culture. Since 1992, they have surveyed more than 100 million employees worldwide and used those deep insights to define what makes a great workplace: trust. Their employee survey platform empowers leaders with the feedback, real-time reporting and insights they need to make data-driven people decisions. Everything they do is driven by the mission to build a better world by helping every organization become a great place to work For All™.
AAG is dedicated to helping older Americans find new ways to fund a better retirement through the responsible use of home equity. As the nation's leader in reverse mortgage lending, AAG offers a suite of home equity solutions including Home Equity Conversion Mortgages, traditional and proprietary mortgages — that are designed to give seniors a better financial outcome in retirement. AAG is a proud member of the National Reverse Mortgage Lenders Association (NRMLA).
Enjaz and Thunes | November 03, 2022
Enjaz Payment Services Company (Enjaz), a leading Fintech company licensed by the Saudi Central Bank announced a partnership with Thunes, a global leader in cross-border payments. This agreement will help our customers in Saudi Arabia to make instant international transfers globally to bank accounts and digital wallets using Thunes payment network. The signing ceremony took place at the Seamless Conference held in Riyadh.
Enjaz is a leader in remittance technology, having developed a scalable self-service and digital infrastructure to complement its wide-reaching physical network, which addresses an evolving market and creates a fast, convenient, and cost-efficient remittance experience. Through its established partnerships with correspondent banks and MTOs, it allows customers to send money instantly to more than 200 countries.
Enjaz offers its customers the best customer experience through a variety of channels. Customers can perform their transactions through more than 150 Enjaz Centres operating in more than 60 cities, 200 self-service kiosks and 200 Point of Sales. Enjaz also offers a full digital journey for its customers through the Enjaz App with end-to-end digital onboarding and creation of Wallet. In addition, Enjaz offers Payment Card, utility bill payments and all of its channels supported by 8 languages and 24/7 Contact Center.
This partnership follows Thunes' announcement to expand its capabilities, intensifying local partnerships with MTOs such as e-wallets service providers and banks in KSA."
"We are excited to see this collaboration go live, allowing customers to send money to any part of the world instantly and efficiently. In pursuit of our shared goal to provide a frictionless experience when moving money globally, we are committed to our customers in delivering the most innovative technology-led financial solutions."
-Expressing delight on the new partnership, Khalid Al Zain, Enjaz CEO
I am excited to kick off the partnership with Enjaz and support their innovative payment offering and product vision. By connecting Thunes' robust and extensive global payment network with Enjaz's digital capabilities, we are able to create a strong synergy that benefits the communities, connects people to their families, and provide a much-needed service to citizens and residents of Saudi Arabia, said Simon Nelson, SVP for MENA at Thunes.
Brankas | November 24, 2022
Open Finance technology leader Brankas has developed "Brankas Open", a first-of-its-kind open source license for the next generation of Banking-as-a-Service and Open Finance software.
The "Brankas Open" license is meant to encourage digital banking and fintech innovation and lower the cost barriers for startups, neobanks, and even traditional institutions to quickly prototype and launch new solutions, while retaining their own source code. Customers will benefit from more choice and better user experience, as companies have open access to use, modify, redistribute, and collaborate on the publicly available Brankas Open code.
The inspiration for Brankas Open came when Brankas received a grant from the Monetary Authority of Singapore in November 2021 to develop Brankas APIX Open Core, a proof of concept open source core banking system.
Recognizing the need for a modernized Open Source framework to address new Open Finance technology, Brankas looked to existing open-source licensing frameworks in order to develop Brankas Open. Brankas felt that this framework was necessary to protect community contributions, ensure open access, and comply with financial institutions' data protection and security requirements.
"Brankas' Open license allows our team to build and contribute in a way that is fair, equitable, and open to independent developers, FIs, and to our partners. With this license, Brankas is able to continue to invest in the greater open source community, and to share our code freely with the world,"
- Brankas co-founder and CTO, Kenneth Shaw
Brankas has been advised by Ren Jun Lim, Alex Toh and Darren Leong from Baker McKenzie's Singapore-based Intellectual Property and Technology (IPTech) practice group.
Brankas is the leading Open Finance technology provider in Southeast Asia. We provide API-based solutions, data and payments solutions for financial service providers (like banks, lenders and e-wallets) and online businesses. Brankas partners with banks to build and manage their Open Finance infrastructure, producing APIs for real-time payments, identity and data, new account opening, remittances, and more. With Brankas' secure Open Banking technology, online businesses, fintech companies and digital banks can use Brankas APIs to create new digital experiences for their users.
About Baker McKenzie
Baker McKenzie provides integrated client solutions that are underpinned by deep practice and sector expertise, as well as keen local market knowledge. These connected solutions provide insight and foresight, empowering business leaders to make the right decisions across siloes. Gain access to seamless legal advice across all your IP and technology needs including protecting and commercialising your intangible assets, advice on licensing and regulatory matters, legal issues in the area of internet of things (IoT), data protection, sector-specific dispute resolution, tax-related issues, labour law, competition and antitrust, commercial contracts and restructuring. Benefit from a team with a unique culture which enables our 13,000 people to work with clients as trusted colleagues and friends to drive innovative growth that is both sustainable — and inclusive.