Secular stagnation, deflation risks, beggar-thy-neighbor policies

None | March 27, 2014

Ok, so, here is the problem worrying some: Behind the encouraging headlines of somewhat stronger growth in the advanced economies, Larry Summers worries that the North Atlantic economy — think: old Europe and the New World of Canada and the U.S., with Japan thrown in for good measure — is at risk of secular stagnation, perpetually trapped in a low-growth environment; meanwhile, the IMF frets that Europe is flirting with deflation, China is slowing as conditional convergence suggests it eventually must, and the emerging markets that powered global growth in 2009-2011 are fearful of more “taper tantrums” as the Fed begins to slow the pace of quantitative easing.

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This video shows you how the law’s on treatment of retirement funds have changed and how to process it on Sage One Payroll.


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FUNDING

Astra Launches First-Ever Point-to-Point Debit Transfer Product Powered by Cross River

Astra, Inc. | December 17, 2021

Astra, Inc. (“Astra”), the automation platform for money movement, today announced the launch of its first-ever card-to-card instant payment API. Through a strategic partnership with Cross River Bank (“Cross River”), a technology-driven financial services organization that provides core infrastructure and embedded financial solutions, Astra is providing the critical infrastructure that will, for the first time, enable fintech developers to fund accounts and facilitate deposits via the debit card payment rails. “Astra’s new instant payment API gives fintech developers the ability to easily embed card-to-card transfers into their own application, for the first time without the need for any additional infrastructure. The funds are instantly applied to the destination card,” said Gil Akos, CEO of Astra, Inc. “Never before have developers been able to leverage card payment rails like Visa to instantly transfer cash between debit cards. We are extremely excited about the product innovations our team, together with Cross River, have been able to build on our platform that will transform the industry.” Financial technology products have the ability to choose several payment options when processing account-to-account (A2A) transactions via ACH or traditional card processing services. With this new solution, developers can process a transaction instantly, directly from one debit card onto a second debit card, without the need for settlement accounts or developing reconciliation operations. The solution is also PCI compliant by default. Astra’s secure API integration ensures developers will have limited liability for sensitive card data. “Astra chose to partner with Cross River to develop this innovative solution and with our new product, we can leverage the experience of Cross River and combine it with our work in risk mitigation and automation to make fast transfers on the debit network more streamlined and efficient than ever before,” said Sam Morgan, COO of Astra, Inc. Cross River provides leading technology and deep banking expertise which has become the foundation on which dozens of partners build their ecosystems and fuel their brands. This partnership will add new functionality to Astra’s payments API while increasing the speed of transfers and the accessibility of the debit card system for developers across the United States, all through Cross River’s comprehensive, one-stop-shop platform that provides streamlined access to the payment rails, core infrastructure, and a robust compliance framework. We are excited to partner with Astra as they bring their innovative payments solution to market. Cross River’s payments and banking API infrastructure allows fintechs like Astra to create value for their clients. Gil, Sam, and the entire Astra team have created a unique and differentiated way to move money, leveraging our core competency in card payments.” Keith Vander Leest, Director of Payments at Cross River. About Astra Astra is a leading provider of advanced bank-to-bank transfer technology for financial institutions, fintechs, and enterprises. With headquarters in San Francisco, the company was founded in 2016 by co-founders Gil Akos and Sam Morgan. Astra’s proprietary, vertically integrated API allows developers to easily embed financial automation within their existing products. For more information, visit https://astra.finance. About Cross River Cross River is a fast-growing financial services organization that merges the forward-thinking offerings of a technology company with the established expertise and traditional services of a bank. Since its founding in 2008, Cross River has developed strategic partnerships with leading technology companies, marketplace lenders and payment providers, while maintaining a strong focus on regulatory compliance and consumer protection. Cross River provides a highly secure, API-based banking platform and comprehensive suite of products encompassing lending, payments, risk management and Banking-as-a-Service (BaaS) offerings to deliver responsible financial solutions that empower businesses and consumers anytime, anywhere. Cross River Bank is a New Jersey state-chartered FDIC insured bank.

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FINANCIAL MANAGEMENT

Wave Financial Launches ADA Yield Fund to Support Cardano DeFi Ecosystem Growth

Wave Financial | April 01, 2022

Wave Financial LLC (Wave), a SEC regulated digital asset investment management company, is pleased to announce the launch of the Wave ADA Yield Fund. The fund is designed to provide liquidity with millions in line to support new decentralized finance (DeFi) platforms launched in the Cardano ecosystem starting with an initial $100M. We're thrilled to continue breaking ground in the field of cryptocurrency through the creation of innovative new funds, and today we are launching what we believe is the first pure liquidity provisioning fund in crypto, Our new fund will support the new decentralized exchanges, lending protocols, and stablecoin issuers building on Cardano. Each of these decentralized applications adds to the strong foundation of the Cardano blockchain as it realizes a fully functional and diverse ecosystem." David Siemer, CEO of Wave Financial. The new ADA Yield Fund represents the continuation of Wave's mission to support promising entrepreneurs within the crypto space beyond the early stage and foster greater innovation in the overall crypto ecosystem. Since the formal launch of smart contracts in 2021, the Cardano community has launched and funded hundreds of companies building on the Cardano blockchain, Cardano's growing ecosystem is hosting an ever expanding universe of applications supporting significant numbers of active users – it's critical for the success of the ecosystem that Cardano-based projects thrive, and so we are pleased that the ADA Yield Fund is committing substantial financial resources to facilitate continued growth and market acceptance." Charles Hoskinson, founder of Input Output. Historically, DeFi dApps are among the most popular in crypto in terms of bringing more users and applications on-chain. Specifically, decentralized exchanges (DEX) and DeFi lenders have gained the fastest popularity in terms of attracting users and capital. DEX typically are set up without market makers, but with two pools of assets that represent each side of a trading pair that serve as a source for DEX counterparties to trade against when they want to transact on either side of the pair. Wave will be using the ADA Yield Fund to provide liquidity to these pairs of pools to support Cardano DEXes. For DeFi lenders, there will also be a similar form of support to augment liquidity to facilitate lending. Also, Wave will continue to support and expand stake pools to strengthen the Cardano network. EMURGO is excited to support the creation of this valuable ADA Yield Fund to further drive expansion and adoption of Cardano's quickly developing DeFi ecosystem, Providing strategic capital resources through the fund will help talented entrepreneurs and projects to build essential DeFi services on Cardano, ultimately delivering impactful solutions and onboarding more users to the global Cardano community." Ken Kodama, founder & CEO of EMURGO. About Wave Financial Wave Financial LLC (Wave) is a Los Angeles based investment management company that provides institutional and private wealth digital asset management solutions. Led by a team of highly experienced financial services professionals, Wave provides investable funds via diverse investment strategies applied to digital assets and tokenized real assets. Wave also offers managed accounts for HNWIs and family offices seeking tailored digital asset exposure, bespoke treasury management services, and early-stage venture capital and strategic consultation to the digital asset ecosystem. Wave is registered with the US Securities & Exchange Commission as an investment adviser.

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CORE BANKING

MCT Continues to Elevate and Deliver Unmatched Client Experience Within Mortgage Capital Markets

MCT | April 26, 2022

Mortgage Capital Trading, Inc.® (MCT), the industry leader in capital markets software and services, today announced it has reinforced its commitment to client profitability and success. Backed by an enhanced sales and support structure, MCT has hired industry all-stars and promoted valued team members. A passion for client experience has differentiated MCT throughout its 20-year history, We are consistently evaluating and enhancing the ways in which we support our clients. While some accounts opt for MCT’s hands-on guidance, others are fully self-directed – both leveraging our award winning MCTlive! ® platform. We meet clients where they are in their growth cycle and provide the most innovative technology and timely advice for them to thrive.” Curtis Richins, President and CEO. Our support begins during the early stages of developing a relationship – often even before a client selects MCT. We listen, collaborate, and share our deep subject matter expertise. Every client is unique, and we tailor our offering to their situation.” Ben Itkin, MCT’s newly appointed Head of Sales, also emphasized the company’s dedication to client experience. Additionally, MCT has created two, new client-facing roles: Regional Account Executive (RAE) and Capital Markets Technology Advisor (CMTA). Both positions are instrumental in providing a seamless experience from sales to on-boarding to long-term success. Peg Eaton, formerly a Correspondent Account Representative at Mr. Cooper and the Manager of Business Operations at Lenders One, recently joined MCT as RAE for the Northeast and Great Lakes regions. Similarly, Boulton Brynteson and Chad Stone have been promoted to RAEs. With this updated structure, MCT’s mortgage lender clients will be further buttressed by a cross- functional team that includes Sales, Client Success Group, and Trading members. We are making material investments in our clients’ success, And, should an account need Lock Desk, MSR, or pricing support, we have additional resources for those areas as well. From loan lock to loan sale, MCT offers the most robust, streamlined, and digital offering in the business.” Richins About MCT: Founded in 2001, Mortgage Capital Trading, Inc. (MCT) ® has grown from a boutique mortgage pipeline hedging firm into the industry’s leading provider of fully integrated capital markets services and technology. MCT’s offerings include mortgage pipeline hedging, best execution loan sales, business intelligence and analytics, outsourced lock desk solutions, MSR valuation, hedging, and bulk sales, and the world’s first, truly open marketplace for loan sales. MCT supports independent mortgage bankers, depositories, credit unions, warehouse lenders, and correspondent investors of all sizes within its award-winning digital platform, MCTlive! ®. Headquartered in sunny San Diego, MCT also has offices in Healdsburg, CA, Philadelphia, PA and Texas.

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PAYMENTS

Paysafe and Playtech Form Global Payments Partnership

Paysafe Limited | May 10, 2022

Paysafe (NYSE: PSFE), a leading specialised payments platform, today announces a new global partnership with Playtech (LSE: PTEC), the world’s leading gambling technology company. The new agreement represents the extension of an existing partnership between the two companies into the UK and Europe from the US, where Playtech offers Paysafe’s leading payment solutions to iGaming operator customers through its technology platform. Through a single, global streamlined integration with Paysafe’s API, operators in the UK and Europe will now also be able to leverage Playtech’s iGaming PAM, Information Management Solution (IMS) platform to access a range of Paysafe’s payment solutions, starting with payment acquiring and card processing, with Paysafe’s digital wallet services set to follow. The integration helps to maximise consumer choice by providing players with all the ways they want to pay when betting online. The partnership extension follows Paysafe and Playtech’s successful US integration with betPARX®. Paysafe has powered the gaming operator’s traditional and alternative payment solutions for its iGaming brand Play Gun Lake in Michigan since Q2 2021 and, from Q1 2022, for its betPARX iGaming and sportsbook app for both Pennsylvania and New Jersey. Both founded in the late 1990s, Paysafe and Playtech bring together a combined 40+ years of industry experience and a deep understanding of iGaming regulation across audiences and markets. With a technology-focused heritage, the two companies are focused on driving new innovations which offer the ultimate player experience and are designed to support the growth of partner businesses. Playtech is an exciting global gaming brand committed to offering its operators a frictionless payments experience. We’ve seen great success in the roll-out of our collaboration across multiple US state markets and are delighted to be extending this into the UK and Europe via the same, single technology integration. Bringing together our respective capabilities and deep expertise and understanding of the international iGaming, technology and payments industries represents an incredibly powerful combination, and I am looking forward to helping the Playtech team grow their business further in new European markets.” Paulette Rowe, CEO of Integrated and Ecommerce Solutions at Paysafe. Offering our iGaming partners market-leading technologies that deliver the most seamless and engaging experience to their customers is absolutely central to our strategy at Playtech. Payments plays an important role in delivering the ultimate player journey and requires an experienced team with expert knowledge, which is where Paysafe comes in as the ideal partner for us. We are extremely happy with the progress of our relationship in the US and are truly excited about what we can achieve together in the UK and Europe.” Shimon Akad, Chief Operating Officer at Playtech. About Paysafe Limited Paysafe Limited (“Paysafe”) (NYSE: PSFE) (PSFE.WS) is a leading specialised payments platform. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, and online cash solutions. With over 20 years of online payment experience, an annualised transactional volume of US $120 billion in 2021, and approximately 3,500 employees located in 10+ countries, Paysafe connects businesses and consumers across 100 payment types in over 40 currencies around the world. Delivered through an integrated platform, Paysafe solutions are geared toward mobile-initiated transactions, real-time analytics and the convergence between brick-and-mortar and online payments. About Paysafe iGaming Paysafe brings over two decades of specialized payments experience supporting the global iGaming and sports-betting sectors and provides operators with a comprehensive suite of traditional and alternative payment methods through a single, streamlined API integration. Paysafe is also a leader in digital and affiliate marketing technology and services for iGaming operators through its Income Access business unit. Since the opening-up of the U.S. iGaming market in May 2018, Paysafe has consistently stated its ambitions to be the payments leader in the fast-growing sector, building on its leadership in Canada and Europe. As of May 9, 2022, the company supports 75% of operators in the country with payments or marketing solutions across 21 jurisdictions. In Canada, Paysafe also has a leading position and partners with the majority of regulated iLottery and gaming brands. About Playtech Founded in 1999 and premium listed on the Main Market of the London Stock Exchange, Playtech is a technology leader in the gambling and financial trading industries with over 7,000 employees across 24 countries. Playtech is the gambling industry's leading technology company delivering business intelligence driven gambling software, services, content and platform technology across the industry’s most popular product verticals, including, casino, live casino, sports betting, virtual sports, bingo and poker. It is the pioneer of omni-channel gambling technology through its integrated platform technology, Playtech ONE. Playtech ONE delivers data driven marketing expertise, single wallet functionality, CRM and responsible gambling solutions across one single platform across product verticals and across retail and online. Playtech partners with and invests in the leading brands in regulated and newly regulated markets to deliver its data driven gambling technology across the retail and online value chain. Playtech provides its technology on a B2B basis to the industry’s leading retail and online operators, land-based casino groups and government sponsored entities such as lotteries. Playtech directly owns and operates Snaitech, the leading sports betting and gaming company in online and retail in Italy.

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Spotlight

This video shows you how the law’s on treatment of retirement funds have changed and how to process it on Sage One Payroll.

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