BITCOIN AND CRYPTO
Plug and Play | November 16, 2022
Global innovation platform, Plug and Play, together with founding partners Visa, AllianceBlock, The INX Digital Company, IGT, and Franklin Templeton, has announced the launch of their new Crypto and Digital Assets program in Silicon Valley. The program aims to connect international startups with the founding partners to pilot the startups' technologies and drive the future of Crypto and Digital Assets as world-class leaders.
"Plug and Play is excited to partner with Visa, AllianceBlock, The INX Digital Company, IGT, and Franklin Templeton to launch our new program and multiply our reach and impact in the crypto space. We look forward to accelerating enterprise-level adoption and bridging the gap between Web2 and Web3,"
- Maximillian Jungreis, Head of Crypto and Digital Assets at Plug and Play
At Visa, we believe partnerships can unlock a deeper understanding of the emerging use cases in the payments ecosystem, We're excited to partner with Plug and Play to innovate with fintech and crypto platforms at all stages of the startup lifecycle on new money movement experiences,said Dan Roesbery, Vice President, Global Fintech Partnerships at Visa.
Headquartered in Sunnyvale, Calif., Plug and Play connects startups and leading corporations worldwide through industry-specific accelerator programs. The founding partners of the Crypto and Digital Assets program will access a global network of startups developing new digital technologies and innovative tools. In addition to our partners' specific interests, Plug and Play's new Crypto and Digital Assets vertical will have four broader focus areas:
Stablecoin Adoption: Stablecoins — cryptocurrencies pegged to an underlying financial asset — have emerged as a leading crypto use-case by providing global access to the world's strongest fiat currencies. Businesses adopting stablecoins get all the benefits of crypto without the volatility: lower fees, secure transactions, and instant cross-border payments.
Decentralized Finance: By making units of value — stocks, bonds, real estate, currencies, etc. — interoperable, programmable, and composable on blockchains, capital markets will become more efficient and accessible to everyone on the planet.
Crypto Economics: Tokens create opportunities for innovation in capital formation and human coordination that extend beyond the digital world and into the physical. Crypto-economic systems are enhancing access to core commodities like file storage and decentralized wireless and the business benefits are significant.
Enterprise Blockchain: Enterprise blockchains are networks designed for large companies and organizations. They retain the core benefits of blockchains, such as efficiency and immutability, but tweak the underlying permissions to help businesses with data safety, faster transactions, and better supply chain management.
AllianceBlock is excited about our partnership with Plug and Play Crypto and Digital Assets. Our ecosystem benefits from their broad network of innovative startups, industry pioneers, and thought leaders, as well as the value that we will provide to the Plug and Play ecosystem as experts in the decentralized space and the infrastructure for builders and developers to build on top of. We share the vision of a participatory economy, one that is fair, transparent, sustainable, and inclusive, and together we are working tirelessly to make that a reality.
Blockchain technology and crypto economics will transform how we do business on the internet and across multiple industries. At Plug and Play Crypto and Digital Assets, we will accelerate enterprise-level adoption and bridge the gap between Web2 and Web3.
As we continue our mission to increase access to the wealth of opportunities in the digital economy for both companies and investors, we are thrilled to be a founding member of Plug and Play's Crypto and Digital Assets program in Silicon Valley. Not only will this unique partnership offer deeper connections on the West Coast and Silicon Valley, but it will also allow us to put our leadership and expertise to work as we advise companies on the benefits of participating in the rapidly growing ecosystem of blockchain, tokenization, and cryptocurrency, Together with Visa, AllianceBlock, IGT, and Franklin Templeton, we look forward to working with a variety of companies - from startups to established names - about the digital future and how they can leverage opportunities now to garner long-term growth,said Douglas Borthwick, Chief Business Officer at INX.
We believe venture capital is the optimal strategy to invest in the development and growth of Web3 businesses. In our view, the Crypto and Digital Assets team at Plug and Play continues to innovate and identify some of the most exciting Blockchain opportunities in the world, said Kevin Farrelly, VP/Director of Digital Asset Management.
As a global leader in gaming, IGT is excited to partner with Plug and Play to accelerate our innovation through a compelling collaborative environment of established industry leaders and technology startups from various sectors, IGT stands at the forefront of cashless gaming technology, and working with Plug and Play can further advance our capacities and development potential in the payments space,said Fabio Celadon, IGT Executive Vice President of Strategy & Corporate Development.
About Plug and Play
Plug and Play is the leading innovation platform connecting startups, corporations, venture capital firms, universities, and government agencies. Headquartered in Silicon Valley, we're present in 50+ locations across five continents. We offer corporate innovation programs and help our corporate partners in every stage of their innovation journey, from education to execution. We also organize startup acceleration programs and have built an in-house VC to drive innovation across multiple industries. We've invested in hundreds of successful companies, including Dropbox, Guardant Health, Honey, Lending Club, N26, PayPal, and Rappi.
Treasury Prime and Bangor Savings Bank | September 30, 2022
Treasury Prime, a leading Banking-as-a-Service (BaaS) company, today announced a partnership with Bangor Savings Bank to deliver its award-winning BaaS offerings to the bank and companies it partners with in the financial services industry.
By partnering with Treasury Prime, Bangor Savings Bank will be able to work with businesses to allow them to embed financial services into their platforms. For the Bank, this translates into expanded revenue opportunities and low-cost deposits. The addition of Bangor Savings Bank brings the total banks in the Treasury Prime bank network to 14, a key differentiator in the crowded BaaS market.
"Bangor Savings Bank's long-held culture of innovation and deep technical experience makes them an ideal partner. By adding Bangor Savings to our one-of-a-kind network of banks, we'll be able to help them quickly and cost-effectively support financial service partners, For enterprises, this partnership means even greater flexibility as they look to innovate and scale."
-Chris Dean, co-founder and CEO of Treasury Prime
Bangor Savings Bank is one of first banks on the Jack Henry core to leverage Treasury Prime's BaaS offerings. News of this partnership comes just days after Treasury Prime announced similar relationships with another Jack Henry core bank, FB Financial Corp (FirstBank) and Third Coast Bank.
We are thrilled to be part of the fintech movement and support the innovation and value they provide, while playing a vital part to ensure their success, Through this relationship the Bank can further support the good work of these financial partners by providing them with banking services to have an even broader community impact through their efforts,said Jamey Doughty, Chief Innovation Officer of Bangor Savings Bank.
About Treasury Prime
Treasury Prime is building the future of finance. Leveraging its award-winning APIs and versatile Banking as a Service (BaaS) products, Treasury Prime enables fintechs, banks and corporate partners to innovate, adapt, grow and scale to stay competitive in a rapidly changing marketplace. The company helps fintechs with a range of complex services including money transfer, risk mitigation and access to a chartered bank's infrastructure. Treasury Prime works with forward-thinking banks to extend their boundaries, helping to grow topline revenue and lower the cost of deposits. Treasury Prime was named Best Banking-as-a-Service Platform in the Tearsheet Embedded Awards 2021 and named to CB Insights' annual 2021 Fintech 250 list.
About Bangor Savings Bank
Bangor Savings Bank, with more than $7 billion in assets, offers retail banking to consumers as well as comprehensive commercial, corporate, payroll administration, merchant services, and small business banking services to businesses. The Bank, founded in 1852, is in its 170th year and currently has more than 65 branches in Maine and New Hampshire and business and/or loan production offices in Maine, New Hampshire, and Massachusetts. Bangor Savings Bank and The Bangor Savings Bank Foundation have invested more than $3.4 million into the community in the form of sponsorships, grants, and partnership initiatives last year.
SymphonyAI | October 31, 2022
SymphonyAI, a leader in high-value enterprise AI SaaS for strategic industries, announced today the close of its acquisition of financial crime detection leader NetReveal from BAE Systems. The deal was first announced in July 2021.
NetReveal, which is now SymphonyAI NetReveal, brings SymphonyAI its extensive experience and portfolio to fight financial crime across a large customer base. NetReveal is being added to SymphonyAI's finance vertical, joining SymphonyAI Sensa to accelerate innovation for transformative, next-generation AI-based capabilities for financial crime detection.
Already, the NetReveal and SymphonyAI Sensa teams have taken a step to reinvent anti-financial crime management with the launch of the NetReveal-Sensa Suite, announced Oct 11. The new solution is a 'no compromise' transaction and behavior monitoring offering that uniquely combines AI detection with intelligent alert management.
"We're pleased to officially count NetReveal's world-class platform as part of our portfolio of solutions, deepening our ability to deliver effective crime fighting capabilities to the financial sector and to ease the burden on risk departments, NetReveal's industry-leading anti-money laundering and payment fraud detection capabilities will be further enhanced with AI capabilities and analytics that better uncover anomalous activity, significantly reduce false positives, and more effectively help customers control costs. We're excited to welcome the NetReveal team to SymphonyAI."
-SymphonyAI CEO Sanjay Dhawan
Financial institutions are facing a rapidly changing environment for financial crime and risk monitoring, and a dynamic regulatory one, As a leader in this space, it's been consistently important that NetReveal grows to meet, and exceed, these changing demands for our customers. Joining SymphonyAI materially accelerates that growth and innovation. We're very pleased to be a part of SymphonyAI,said Mike Foster, president and CEO of SymphonyAI NetReveal.
SymphonyAI NetReveal brings over 20 years of industry expertise and 200 of the world's leading financial institutions, including top 100 global banks, as customers. The company has been widely recognized by expert industry analysts for its risk technology and enterprise fraud detection solutions, including its recent listing by Chartis as a 2022 Category Leader in the RiskTech Quadrants® for Sanctions Screening and Transaction Monitoring Solutions.
About SymphonyAI NetReveal
SymphonyAI NetReveal, part of the SymphonyAI finance vertical, provides financial crime, risk management, and fraud detection and prevention across banking, financial markets, and insurance via a single platform. The platform is adaptable to the evolving and heterogeneous nature of the financial services sector; to deliver power and flexibility in analytics, investigation, integration, security, and total cost of ownership reduction.
SymphonyAI is building the leading enterprise AI SaaS company for digital transformation across the most critical and resilient growth industries, including retail, consumer packaged goods, finance, manufacturing, media, IT/enterprise service management, and the public sector. SymphonyAI has many leading enterprise customers in each of these industries. Since its founding in 2017, SymphonyAI has grown rapidly, approaching 2,000 talented leaders, data scientists, and other professionals. SymphonyAI is a SAIGroup company, backed by a $1 billion commitment from successful entrepreneur and philanthropist Dr. Romesh Wadhwani.
Solvd and Siguler Guff | October 03, 2022
Solvd Inc., a global technology consultancy and software engineering company, today announced that it has secured a majority investment from Siguler Guff & Company, LP (Siguler Guff), a global multi-strategy private markets investment firm with deep experience in the digital product development industry. With Siguler Guff's support, Solvd can continue to expand its distributed development division and will seek to strengthen its advanced capabilities in test automation, application development, and DevOps for its clients. The Company will also look to further support its management team by adding senior sales and engineering-focused professionals in the U.S.
Founded in 2011, Solvd's team of over 600 engineers spans eight countries in Latin America, North America and Eastern Europe. Solvd services Fortune 500 clients across several high-growth industries including FinTech, Retail, Media & Entertainment, Software and Health & Wellness. In each of the last three years, the Company has doubled its sales by leveraging Zebrunner, their innovative proprietary quality management platform.
"Siguler Guff's investment is an important validator of the truly valuable experience our employees and management team have achieved for our clients, Siguler Guff's industry insights, strong relationships, and collaborative style make them an ideal partner. We are thrilled to be a core investment from their flagship growth fund and welcome Drew Guff and Shaun Khubchandani to our Board of Directors."
-Alex Khursevich, CEO of Solvd
Drew Guff, Managing Director and a Founding Partner of Siguler Guff, commented, Having previously invested in industry leaders EPAM Systems and GlobalLogic, our firm is focused on backing digital transformation. We couldn't be more excited to continue this commitment by partnering with the Solvd team to support the development of their outstanding software product and client services. We look forward to working together in this new phase of accelerated growth and expansion of the Company's delivery footprint.
Shaun Khubchandani, Managing Director and a Portfolio Manager of Siguler Guff, added, Across all sectors, successfully migrating to digital has become a crucial differentiator for businesses globally. Solvd's engineering expertise and IP-focused culture enable it to lead this paradigm shift and competitively gain market share over its competition. The Company provides meaningful opportunities to the growing tech talent base in Europe and Latin America, and Siguler Guff is uniquely positioned to use its sector experience to bolster Solvd's talent base organically and through acquisitions.
Solvd is a global technology consultancy and software engineering company with over 600 engineers located across eight countries in Latin America, North America and Europe. Solvd has built a core competency in software QA and test automation consulting and its solutions have broadened to include custom app development, DevOps, AR / VR development among other solutions which the Company has developed to meet their client's growing needs. The Company has also developed a rich intellectual property library which includes Zebrunner, an innovative proprietary quality management platform. Solvd services Fortune 500 clients across several high-growth industries which include FinTech, Retail, Media & Entertainment, Software and Health & Wellness. Solvd is headquartered in Roseville, CA, and has 7 development centers in Ukraine, Poland, Georgia, Argentina, Brazil, Mexico and a sales office in Hungary.
About Siguler Guff
Siguler Guff is a leading global multi-strategy private markets investment firm, which together with its affiliates, has approximately $17 billion of assets under management, as of June 30, 2022, and over 30 years of investment experience. Siguler Guff seeks to generate strong, risk adjusted returns by focusing opportunistically on market niches. Siguler Guff's core investment strategies include opportunistic and private credit, small business private equity, distressed real estate and emerging markets. Siguler Guff's investment products include direct investment funds, multi-manager funds, and customized separate accounts. Founded in 1991 and headquartered in New York, Siguler Guff maintains offices in Boston, London, Mumbai, São Paulo, Shanghai, Seoul, Tokyo, Hong Kong and Houston, TX.