Opus Bank posts 1Q profit

April 25, 2016

"IRVINE, Calif. (AP) _ Opus Bank (OPB) on Monday reported first-quarter profit of $17.3 million. The Irvine, California-based bank said it had earnings of 51 cents per share. The state-charted commercial bank posted revenue of $64.4 million in the period."

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In this video, Jack Gibson, Global Leader for Insurance M&A Advisory Services, highlights the key findings from our recent study of insurance M&A activity around the world, in partnership with Mergermarket.


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Northwestern Mutual Dedicates Nearly $2 Million Investment to Milwaukee Neighborhoods

Northwestern Mutual | August 18, 2020

More than one-fourth of Milwaukee's Black residents, regardless of household income, live in neighborhoods of concentrated poverty. Northwestern Mutual believes that collaboration with residents and local organizations is essential to understanding the challenges and opportunities facing not only its hometown, but communities nationwide. Through its Foundation, the company today announced a donation of nearly $2 million in grants to foster safe neighborhoods, healthy and thriving youth, strong families and quality education in Milwaukee.

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FINANCIAL MANAGEMENT

Global Business Spend Indicator, New Survey By American Express, Shows U.S. Businesses Have Bullish Outlook on B2B Spending

American Express | June 01, 2021

Survey indicates that U.S. spending is on the rise across nine key business-to-business (B2B) categories. U.S. survey respondents cited that raw or processed materials, such as lumber, metals, and chemicals, are outpacing all other B2B spending categories. Automation is anticipated to be the fastest-growing area in technology spending, with nearly half of U.S. survey respondents planning to automate or further automate their B2B payments over the next year1. Flexibility is key for the U.S. businesses surveyed, which are adapting their supply chains due to pandemic challenges. New York, June 1, 2021 – American Express today launched the Global Business Spend Indicator (GBSI), a new survey of global businesses conducted with the Centre for Business and Economic Research (CEBR)². The survey reveals U.S. businesses are the most bullish and optimistic when it comes to B2B spending among the six countries covered in the survey, with 76% of U.S. businesses expressing optimism about their prospects over the next 12 months. Respondents predicted that B2B spending in the U.S. will be an average of 3.4% higher in the second quarter compared to the same period last year. Applying that projection from the survey respondents to broader U.S. macroeconomic data would equate to an estimated $140 billion in additional B2B spending from U.S. businesses³. “B2B spending is an important bellwether for the overall health of the economy, and the GBSI study shows U.S. businesses are investing and spending more, whether to adopt to the new ways of operating during the pandemic, or to digitize and streamline their operations,” said Dean Henry, EVP, Global Commercial Services at American Express. “It also reveals that some of the trends that have emerged or accelerated during the pandemic, such as payments automation and new approaches to managing the supply chain, are likely here to stay.” CEBR estimates that the value of B2B expenditures each year amounts to nearly half (48%) of gross output (the total value of sales or receipts) in the U.S. economy. This means that for each dollar spent in the U.S. economy, approximately 48 cents are B2B transactions. The GBSI is designed to explore the importance of business spending in both the global and local economies based on a survey of more than 3,600 businesses of all sizes and across industries in the UK, Australia, Canada, Japan, Mexico, and the U.S. For this report, B2B spend is classified as goods and services that a business purchases from another business to keep their business running. The survey looked at nine B2B spending categories, and three additional categories of taxes, people / workforce, and travel, entertainment and expenses, for a robust look at the dynamics and impact of overall business spending. Raw or Processed Materials Top B2B Spend Categories U.S. businesses surveyed reported that they have increased their overall B2B spending across all the core categories since the start of the year. The highest growth rates were in spending on raw or processed materials such as lumber, metals, and chemicals, which rose by an average of 6.2% between Q1 2020 and Q1 2021, according to survey respondents. This would equate to an estimated $37 billion in additional spend when applied to U.S. macroeconomic data, most likely due to rising prices of raw materials after the onset of the pandemic. This trend is expected to continue, with the U.S. businesses surveyed anticipating another 6.4% rise in spending in this category from Q2 2021 over the prior quarter. U.S. Businesses Lead in Payments Automation, with Plans to Continue Investing in the Year Ahead Within the technology spending category, automation is the fastest anticipated growth area among the U.S. businesses surveyed. While many businesses have already been digitizing their B2B payments over the past few years, the pandemic helped accelerate this trend more broadly. The GBSI found that, of the six surveyed countries, U.S. businesses have the highest level of automation across most business functions, including with purchasing / procurement, payroll, paying suppliers, supplier analysis, and syncing payments to the existing ledger. In fact, nearly half of U.S. businesses surveyed said they are mostly or fully automating the making (48%) and receiving (51%) of payments from business customers. In addition, there is more opportunity ahead as nearly half (46%) plan to automate or further automate each of these functions over the next 12 months. With more automation, U.S. businesses may vastly reduce their reliance on manual payment methods – like writing and sending physical checks – which are still prevalent, with 33% of U.S. business spend currently using physical payment methods, according to the businesses surveyed. On the whole, technology spending by U.S. businesses surveyed rose by an average of 4.1% between Q1 2020 and Q1 2021, equating to an estimated $25 billion in additional spend when applied to U.S. macroeconomic data, likely driven by the rapid digitization of businesses such as e-commerce capabilities or website enhancements. Nearly a quarter (22%) of U.S. businesses surveyed list increasing their online presence among their top three goals and 39% expect to expand their use of virtual cards over the next 12 months. U.S. Businesses Prioritize Streamlined and Flexible Supply Chain Relationships For many businesses, the experiences during the pandemic highlighted ways to streamline and seek more flexible ways to manage their supply chains and operating practices. Over the last 12 months, 23% of U.S. businesses surveyed took steps to simplify their network of suppliers, 23% reduced or avoided long-term commitments to purchase from specific suppliers, and 22% chose suppliers with more flexible payment terms. Looking Ahead Over the next 12 months, U.S. businesses in the survey cite increasing profitability (34%), securing new business or bringing on new customers (32%), and remaining competitive (31%) as being among their three most important goals. CONTACTS: AMERICAN EXPRESS Melissa Filipek melissa.j.filipek@aexp.com Felicia Macdonald felicia.m.macdonald@aexp.com

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PAYMENTS

Data Mynt Payment Processing Platform Now Supports Bitcoin Payments

Data Mynt | April 06, 2022

Data Mynt, a leading provider of simple, stable cryptocurrency payment products, now enables payments over the Bitcoin network, which already supports roughly 225,000 transactions per day and $30 billion USD dollar equivalent volume per day worldwide (as of publishing). Now the Data Mynt payment processing platform enables payments from any wallet and asset across the $2 trillion combined market cap (as of publishing) available to make a payment over the Bitcoin, Ethereum Mainnet and Polygon networks. The Data Mynt payment processing solution enables merchants and enterprises to expand their payment options for their customers and partners. At the same time, it reduces payment processing costs and eliminates frictions such as chargebacks and crypto price volatility. As a payment processor, it only makes sense for us to enable our merchants and partners to accept what the world already accepts—the biggest cryptocurrency, Almost one-quarter of the US population owns Bitcoin. Many other countries such as Brazil, Indonesia, UAE, Singapore, Israel, India, Mexico, and South Africa have even higher adoption rates. Data Mynt merchants can feel good knowing they offer these Bitcoin owners another payment option." Data Mynt CEO Alex Christian. About Data Mynt Data Mynt is a leading crypto payment processor. Its wallet, asset and blockchain-agnostic suite of solutions offer partners and merchants an omnichannel approach to accepting on-chain crypto payments free from volatility and the risks and costs of traditional payment methods. The Data Mynt payment platform is also designed to streamline implementation delivering a seamless customer experience.

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PAYMENTS

Global payments platform Nium boosts payment capabilities in South Korea through partnership with SENTBE

Nium, SENTBE | April 01, 2021

SINGAPORE, 1 April 2021 – Nium, an advanced global payments platform, announced today a partnership with SENTBE, a fintech company that offers cross-border payment platform, to enable Nium customers to make payments into South Korea. Nium customers are also able to extend this offering to their own consumers, thus adding a new payments corridor into one of the world’s largest economies. South Korea has become an economic powerhouse, constantly ranking within the Top 10 when it comes to any global exporter and importer lists . With a focus on technological advancements, the country has also grown significantly in its adoption of cashless payments and often comes up top in the list . While much progress has been made to digitise payments within the domestic scene, the international business payments landscape continued to be plagued by complexities. Companies need to comply with different requirements depending on the mode of transfers, and there is also the added complexity of charges and conversations due to currency exchanges. This partnership between SENTBE and Nium looks to address these scenarios and streamline payments into South Korea. By simplifying the transaction flows through the removal of middlemen and allowing local currency payments, businesses can ensure that instructed amounts are being credited in full to the accounts of vendors, suppliers and recipients without any unforeseen deductions or conversion charges in between. The process is also fully transparent within the portal or through Nium’s APIs, providing easier tracking and visibility for the accounting team. Through this collaboration, which will see Nium integrating SENTBE’s APIs, Nium customers from around the world can now make the fund transfers directly to the banks of their partners and vendors in South Korea. Customers of Nium are also able to, in turn, extend this service to their end users. “South Korea is one of the world’s biggest markets, and we’re glad to be partnering with SENTBE, one of the leading fintech companies in the country, to enable a faster and more convenient payments flow into the country for our customers. This partnership will not only help our customers overcome the complex challenges of sending local payments into South Korea, but also opens up payouts round the clock (24x7) into the country to facilitate business to business transactions,” says Ranaditya Palit, Global Product Head, Platform, Nium. “SENTBE is very pleased to partner with Nium as the company possesses a strong financial network and outstanding customer trust. As an FX-focused solution company, SENTBE will provide a more cost-effective and faster cross-border payment services to Nium's customers,” states Alex Choi, CEO of SENTBE. “This partnership outlines SENTBE’s growth plans to become a global payments company that offers reliable services by removing overseas payments barriers between the world and South Korea." All funds transferred can be initiated in any of the 40+ source currencies currently offered through Nium’s Send service and recipients will receive the payout in their local currency to all major banks in South Korea via SENTBE. About Nium Nium is a next-generation financial services platform  that enables companies around the world to unlock new revenue opportunities and improve cash flow economics. Nium is a leader in its geographical and payment service breadth, owning licenses in the world’s largest and fastest-growing economies. Our modular platform allows banks, payment providers, travel companies, and other businesses to collect and disburse funds in local currencies to over 100 countries, plus issue physical and virtual cards globally. Our proprietary set of APIs embeds financial services and can bring to life multiple B2B and B2C use cases in a matter of weeks. Nium is part of CB Insights Fintech 250, which highlights the most promising Fintech companies globally. Today, Nium serves over 130 million customers and enables platforms to provide access to financial services to over 3 billion people across the world. For more information, visit: http://www.nium.com. About SENTBE Founded in 2015, SENTBE has revolutionized overseas payments services with low fees, fast transaction speeds, and simple user experiences to create frictionless cross-border financial activities. SENTBE’s product offerings include overseas remittance platform “SENTBE”, enterprise overseas payment platform “SENTBIZ”, and payment settlement API for global e-commerce platform “SENDA”. With the launch of SENTBE GLOBAL, SENTBE will provide payment services globally to 50 countries around the world such as North America, South East Asia, Europe, etc. SENTBE has established a global network with partners such as Moneygram, Ripple, and Samsung Pay. It is the only South Korean company to have acquired a Major Payment Institution license in Singapore, in addition to its Korean Electronic Financial Business license, Other Specialized Foreign Exchange license, and Small Sum Overseas Remittance license. For more information, visit: http://www.sentbe.com/en Media Contact: Gillian Loo +65 9863 8120 Gillian.loo@nium.com

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