UBS Wealth revamps iPhone app

UBS | February 11, 2020

UBS Wealth Management USA has launched an entirely redesigned UBS Financial Services iPhone app (” the app”) in close collaboration with UBS clients and financial advisors. The new app is designed to help clients gain a more complete picture of their total wealth, and get insights and research in new ways through their mobile device. “At UBS, we’re proud to give clients an all-new experience that reflects their immediate and future financial needs and goals,” said Kraleigh Woodford, Head of Digital Client Experience at UBS Wealth Management USA. The app, which was developed in collaboration with Deloitte, focuses on asking important, real-life questions, to shape a personalized user experience for clients: What are you passionate about? Who are the people you care about most? What do you really want to do with your wealth and life?

Spotlight

The experience of advanced economies during the financial crisis has emphasised the necessity of integrating financial variables in standard economic models. Ignoring the role of financial developments in shaping business cycles could prove costly, given the inherent inability of models to foresee problems originating in the financial system. Building on the seminal contribution of Bernanke and Gertler (1989), Kiyotaki and Moore (1997) and Bernanke et al. (1996), a large body of literature emerged explaining different channels through which financial frictions affect macroeconomic conditions. Notably, according to the” financial accelerator” mechanism temporary output shocks which increase the net worth of agents lead to easier lending conditions and higher credit growth, which in turn supports activity.


Other News
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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PAYMENTS

Data Mynt Crypto Payment Gateway Now Live On Bitcoin Lightning Network

Financial asset, loan, Banks, Cryptocurrency, payments. | April 19, 2022

Data Mynt, the world's fastest growing cryptocurrency payment gateway, has launched support for its fourth major blockchain network in as many months, the Bitcoin Lightning Network. Data Mynt now facilitates seamless payments to and from all Lightning Network enabled wallets in addition to Polygon Network, Ethereum Mainnet, and Bitcoin network wallets and assets. Data Mynt merchants and partners, which are on schedule to number in the tens of thousands by the end of Q2 2022, now receive and send payments from all Lightning Network enabled wallets such as Cash App and Strike. Favored by nation states such as El Salvador and household brandnames including Twitter, PayPal and Whole Foods, Bitcoin is the world's most widely used digital asset. Data Mynt is on pace to be the global leader in crypto payments by supporting all major blockchains, all enabled wallets and their owners' crypto-of-choice. The Data Mynt gateway enables merchants, funds, and enterprises to expand their payment options for their crypto customers, investments, and partners. At the same time, it reduces payment processing costs and eliminates frictions such as chargebacks and crypto price volatility. Every day, Bitcoin is less about a store of value and, arguably, the currency-of-choice for day-to-day utility." Data Mynt CEO Alex Christian. The Lightning Network is the key to unlocking the user experience and scalability for BTC payments that the entire world was waiting for." "Data Mynt's leadership in adopting Lightning will help bring Bitcoin to the next billion people around the world." Elizabeth Stark, CEO and Co-Founder at Lightning Labs. About Data Mynt Data Mynt is a global crypto payment processing gateway. Its wallet, asset and blockchain-agnostic suite of solutions offer partners and merchants an omnichannel approach to receiving and sending on-chain crypto payments free from volatility, risks, and costs of traditional payment methods. The Data Mynt payment solution is also designed to streamline implementation via API, branded web page, iFrame and merchant app, while consistently delivering a seamless customer experience for hundreds of thousands of merchants. About Lightning Labs Lightning Labs is building the next generation of decentralized, resilient financial infrastructure. We believe systems based on cryptography, blockchains, and smart contracts will enhance financial cooperation around the world in unprecedented ways at scales both large and small. We have developed Lightning Network Daemon (lnd) the most advanced and most developer-friendly implementation of the Lightning Network protocol. Along with Neutrino, an open platform that enables users with mobile devices to conduct blockchain and Lightning Network transactions quickly and easily.

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INVESTMENTS

Sanctuary Wealth Launches Customized Alternative Investment Platform for Hybrid RIAs

Sanctuary Wealth | June 17, 2022

Sanctuary Wealth, home to the next generation of elite advisors, is pleased to announce the launch of a customized alternative investments platform for its partner firms, that streamlines the complexities of managing alternative investments across their full investment life-cycle. With our new platform, Sanctuary Wealth becomes the first hybrid RIA to offer this kind of digital access to alternative investments, where everything has been sourced and vetted by our own team rather than outsourced to a third-party vendor, We believe this will be a real game-changer for our advisor partners and their clients, particularly in the current environment where traditional investments have been volatile. By leveraging +SUBSCRIBE's end-to-end alternative investment solution to power our private markets offering, it allows us to punch above our weight, as we have since day one." Jim Dickson, CEO and Founder of Sanctuary Wealth. Sanctuary's customized alternative investments platform, powered by +SUBSCRIBE, provides an innovative digital experience for product menu centralization, product training and education, investor onboarding, electronic subscription documents, compliance controls, and fully integrated order workflows. Advisors are thus empowered to quickly and "automagically" make an investment in any alternative investment fund, and easily manage client positions through the investment life cycle on a single software solution. About Sanctuary Wealth Sanctuary Wealth (sanctuarywealth.com/) is the advanced platform for the next generation of elite advisors, who have the entrepreneurial spirit to build and own their own practices and desire the freedom to deliver the tailored service their clients deserve. Sanctuary's ecosystem of partnered independence provides a complete technology and operations platform, as well as support from a community of like-minded advisors and the resources of invaluable affiliated businesses. Currently, the Sanctuary Wealth network includes partner firms across 20 states with over $22.0 billion in assets under advisement. The Sanctuary Wealth Group includes the fully owned subsidiaries Sanctuary Advisors, a registered investment adviser, and the broker-dealer Sanctuary Securities, as well as Sanctuary Asset Management, Sanctuary Insurance Solutions, Sanctuary Global, and Sanctuary Global Tax and Family Office.

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CORE BANKING

BancTrust & Co. Investment Bank Announces Launch of U.S. Broker-Dealer Affiliate

BancTrust | May 13, 2022

BancTrust & Co. Investment Bank (BancTrust), a leading global emerging markets investment bank, today announced the launch of BancTrust Securities USA (BancTrust USA), its U.S. broker-dealer affiliate. BancTrust USA is a member of Financial Regulatory Authority (FINRA) and is registered with the Securities and Exchange Commission (SEC). BancTrust USA is based in New York City and will represent BancTrust with U.S. institutional investors and major U.S. institutional investors under a chaperoning agreement in compliance with SEC Rule 15a-6. The initial New York-based team is comprised of Jack Thomas, MD Fixed Income Trading; Erik Berg, MD Debt Capital Markets; Rafael Elias, MD LatAm Corporate Credit Strategy; Dan Bowers, ED Fixed Income Sales; and Maurice Batista, ED Fixed Income Sales. Prior to joining BancTrust USA, Jack was the Head of Emerging Market Trading - New York at Intesa Sanpaolo IMI Securities. He previously held positions at UBS Investment Bank, Santander, Societe Generale and ING Financial Markets. Jack has nearly 20 years of experience trading EM fixed income and has specialized in both Latin American and Asian credit markets. He holds a Bachelor of Arts in Economics and Accounting from the College of the Holy Cross. Erik has over 25 years of experience in international capital markets. He has had senior capital markets roles in New York at Deutsche Bank, ING, ABN Amro, Standard Bank of South Africa, Commerzbank, and Natixis, and been responsible for debt origination across Latin America including new bond issues, debt restructurings, debt buybacks and public and private sector debt exchanges. Mr. Berg is a graduate of Wesleyan University, Connecticut and holds an MBA from the IAE /Universidad Austral, Buenos Aires. Rafael (Rafa) was previously a Director of Research for Latin America at StoneX and formerly at Tellimer Markets. His experience spans over 25 years of being responsible for macro and corporate strategy at Cantor Fitzgerald, Credit Agricole, Knight Libertas, UBS, Deutsche Bank, ING, and Credit Suisse. Rafa holds a Master's degree in Public and Private Management (MPPM) from Yale University's School of Management and a Civil Engineering Bachelor's degree from Universidad Anahuac in Mexico. Dan is an investment professional with 20 plus years of experience in emerging markets. Before joining BancTrust USA, he held senior EM sales roles with Unicredit and Societe Generale. Previously Dan had trading roles at Moore Capital, Depfa Investment Bank and Galileo Asset Management. He has an MBA in Business Administration and Bachelors in Banking and Finance from Hofstra University. Maurice has over 20 years of experience in financial services, with a focus on global EM. Prior to joining BancTrust USA, he worked in EM institutional sales at Torino Capital and Stifel Financial. Previously, at Renaissance Capital Securities, he headed FICC sales in New York, focusing on Russia, CIS and Africa. He began his career in emerging markets at Chase Securities and has also worked in sales at BBVA and Cantor Fitzgerald. He holds an MBA from NYU Stern School and a BA in Political Science from UCLA. I am thrilled to announce the expansion of the BancTrust group in the U.S. We have assembled a senior team with extensive experience in dealing in frontier and emerging markets. Our New York presence will enable us to better serve and grow our current U.S. client base as we aim to be their trusted partner in emerging markets." CEO Carlos Fuenmayor. About BancTrust & Co. BancTrust & Co. Investment Bank is a leading London-based global emerging markets investment bank that offers corporate and investment banking, securities dealing and financing, investment research products and services to a diversified client base mainly comprised of emerging and frontier markets-based corporations, financial institutions, governments, and dedicated global EM asset managers.

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Spotlight

The experience of advanced economies during the financial crisis has emphasised the necessity of integrating financial variables in standard economic models. Ignoring the role of financial developments in shaping business cycles could prove costly, given the inherent inability of models to foresee problems originating in the financial system. Building on the seminal contribution of Bernanke and Gertler (1989), Kiyotaki and Moore (1997) and Bernanke et al. (1996), a large body of literature emerged explaining different channels through which financial frictions affect macroeconomic conditions. Notably, according to the” financial accelerator” mechanism temporary output shocks which increase the net worth of agents lead to easier lending conditions and higher credit growth, which in turn supports activity.

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