Business Finance – Premudraja http://premudraja.net/ Mon, 26 Sep 2022 22:24:14 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://premudraja.net/wp-content/uploads/2021/06/icon-4-150x150.png Business Finance – Premudraja http://premudraja.net/ 32 32 Avenue Bank reinvents SME banking with nCino https://premudraja.net/avenue-bank-reinvents-sme-banking-with-ncino/ Mon, 26 Sep 2022 21:30:00 +0000 https://premudraja.net/avenue-bank-reinvents-sme-banking-with-ncino/ nCino, Inc. Australia’s New Digital Merchant Bank Redefines the Banking Experience to Improve Offerings for Small and Medium Businesses SYDNEY, Australia, Sept. 26, 2022 (GLOBE NEWSWIRE) — nCino, Inc.. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced that Avenue Bank, an Australian digital merchant […]]]>

nCino, Inc.

Australia’s New Digital Merchant Bank Redefines the Banking Experience to Improve Offerings for Small and Medium Businesses

SYDNEY, Australia, Sept. 26, 2022 (GLOBE NEWSWIRE) — nCino, Inc.. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced that Avenue Bank, an Australian digital merchant banking startup specializing in to small and medium-sized enterprises, is online on the nCino Bank Operating System®. Avenue Bank deployed nCino’s commercial banking solution to support customer onboarding, origination, credit risk management and 360° customer view, providing their employees with key insights and automation necessary to provide a faster response and a seamless experience for their customers.

“nCino integrated its high-quality solution into our entirely new digital strategy in just over 4 months. With their guidance, we have been able to design products and implement cutting-edge technology to meet our needs and the needs of our target customers,” said George Confos, CEO and Executive Director. “As a cloud-based company focused on digital products like nCino, our values ​​and mission make this partnership a win-win not only for our customers, but also for our employees. The nCino team was very committed throughout the project, which allowed our team to be convinced that the success of Avenue Bank was its top priority.

Small and medium-sized enterprises (SMEs) are a fundamental part of the global economy. nCino’s platform supports both the financial institution and the customer from the start, to deliver an efficient end-to-end banking relationship, improving customer relationships and increasing loan profitability and response time. nCino’s unique platform helps drive Avenue Bank’s digital strategy which focuses on making timely, quality decisions and operating in a high-tech, low-contact environment.

“Industry-wide, financial institutions can add significant value by adopting digital technologies like nCino to deliver faster insights to customers, react faster to new market trends, and scale efficiently to stay ahead of the game. ahead of the competition,” said Mark Bernhardi, Australia’s managing director. and New Zealand at nCino. “It is always an exciting opportunity to partner with another entrepreneurial and progressive organization such as Avenue Bank and come up with new and innovative ways to better serve their customers. Avenue is on a mission to exceed corporate banking standards in the Australian market, and nCino’s platform helps achieve this goal.

About nCino
nCino (NASDAQ: NCNO) is the global leader in cloud banking. The nCino Bank operating system® provides financial institutions with scalable technology to help them increase revenue, increase efficiency, reduce costs and comply with regulations. In a digital world, nCino’s unique cloud-based platform enhances the employee and customer experience to enable financial institutions to more efficiently onboard customers, issue loans and manage the entire loan lifecycle, and open depository and other accounts across all lines of business and channels. Transforming the way financial institutions work through innovation, reputation and speed, nCino partners with more than 1,750 financial institutions of all types and sizes globally. For more information, visit www.ncino.com.

About Avenue Bank
Avenue Bank is a digital commercial bank, designed for small and medium Australian businesses in the 21st century. Our mission is to put money in the hands of businesses. We intend to recreate the whole experience of what it means to be a merchant bank. Small businesses want banking solutions that meet their needs, so we’ve developed smarter digital products to free up money, so Australian businesses can do more with their money. Australian businesses are our sole focus and we are committed to doing things differently to help all of our small business customers. Avenue Bank: Business banking done differently. To find out more, visit www.avenuebank.com.au.

Media Contacts
North America
ryan kelly
+1 732.770.5942
ryan.kelly@ncino.com

APAC
Catalina Garcia, nCino
+61 418 215 423
catalina.garcia@ncino.com

This press release contains forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally include actions, events, results, strategies and expectations and are often identifiable by the use of the words “believes,” “expects,” “intends,” “anticipates,” “plans,” “seeks,” “estimates,” “projects,” “may,” ” will”, “could”, “might” or “continue” or similar expressions. All forward-looking statements contained in this press release are based on nCino’s historical performance and its current plans, estimates and expectations, and do not constitute representation that such plans, estimates or expectations will be achieved. These forward-looking statements represent nCino’s expectations as of the date of this press release. Subsequent events may change these expectations and, except where If required by law, nCino undertakes no obligation to update or revise these forward-looking statements. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially, including, among other things, risks and uncertainties relating to market adoption of our solution and privacy issues. and data security. Additional risks and uncertainties that could affect nCino’s business and financial results are included in nCino’s filings with the United States Securities and Exchange Commission (available on our website at www.ncino.com or on the SEC’s website at www.sec.gov). Further information about potential risks that could affect actual results will be included in other filings by nCino with the SEC from time to time.

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4 Books You Should Read to Build Wealth and Financial Security https://premudraja.net/4-books-you-should-read-to-build-wealth-and-financial-security/ Sat, 24 Sep 2022 09:36:45 +0000 https://premudraja.net/4-books-you-should-read-to-build-wealth-and-financial-security/ Rebell, who has previously held various journalistic positions, specializes in personal finance topics. One of her top picks is “Smart Women Finish Rich,” which was written by her longtime colleague David Bach. Rebell recommends securities for novice investors through to seasoned savers. Loading Something is loading. Bobbi Rebel Bobbi Rebel Before Bobbi Rebell was a […]]]>
  • Rebell, who has previously held various journalistic positions, specializes in personal finance topics.
  • One of her top picks is “Smart Women Finish Rich,” which was written by her longtime colleague David Bach.
  • Rebell recommends securities for novice investors through to seasoned savers.

Portrait of Bobbi Rebell

Bobbi Rebel

Bobbi Rebel



Before Bobbi Rebell was a personal finance expert and host of the Money Tips for Financial Grownups podcast, she got her start as an intern for Maria Bartiromo, the first television journalist to report live from the stock exchange floor. from New York.

“I’ve always been fascinated by money — but from a personal finance perspective — so I took the leap into financial journalism,” Rebell told Insider.

At one point, Bobbi even worked as an unpaid overnight producer. She eventually worked for CNN and CNBC, but it was while working as a television business news anchor for Reuters that she was able to pursue her interest in personal finance.

“I found that all the financial news coverage focused on the economy and the stock market, but I knew there was a place for personal finance,” Rebell says. “I was offered the opportunity to write a column on personal finance and it really touched readers.”

It was the insight she received while writing this column that led her to write her first book in 2016, “How to Be a Financial Adult: Proven Advice From High Achievers on How to Live Your Dreams and have financial freedom”. It was the success of her book that prompted her to leave Reuters and expand her personal finance advice into other avenues of financial education content.

“I realized that most people really needed an introduction on how to start managing money and making really important decisions like real estate, investing and debt management” , says Rebell.

“To be honest, most people shouldn’t trade stocks, but focus on their personal financial goals and how best to achieve them,” says Rebell. “People hear about investing all the time and just when it comes to stocks, sit down and read about the different approaches to investing and decide what works for you based on your financial situation.”

Here are his four favorite personal finance books that will help you become a smarter investor.

“Smart women end up rich” by David Bach

In “Smart Women Finish Rich,” David Bach writes about money management and investing with the goal of making women better investors and improving their finances. It highlights how important it is for women to take control of their financial future and outlines 7 strategies women should use to start investing and achieve financial security.

“It really breaks down complicated financial concepts and makes them easy to understand,” Rebell said of the book. “It gives you sound financial advice that you can apply immediately to set yourself up for financial success.”

“How to Make Money: Your Ultimate Visual Guide to the Basics of Finance” by Jean Chatzky and Kathryn Tuggle

By laying out the concept of “How to Make Money”, Chatzky and Tuggle guide the reader through what is known as the “money cycle” – earning it, managing it, using it and looking forward. coming.

The book provides practical advice, exercises and definitions to increase the reader’s knowledge of money so that the reader feels more comfortable with managing their finances. Aimed at young beginners, it also covers budgeting, banking, credit cards, and student loans.

“I really like this book because anyone can pick it up and start doing better with their money,” Rebell says. “People think it’s hard to take care of their money – it’s not – but this book actually walks the reader through the steps to make it easier.”

“Be Good With Money: Ten Simple Steps to Become Financially Whole” by Tiffany Aliche

In “Get Good with Money,” Tiffany Aliche (aka The Budgetnista) outlines a 10-step plan for finding a “peaceful” way to manage your money and explains the concept of building wealth through financial integrity: an alternative to get rich quickly or complicated money management systems.

She explains how short-term actions can lead to long-term financial success. The book gives detailed action steps for saving and investing, calculating expenses, improving credit reports and financial security until retirement.

“It’s just a great book. It helps you understand the basics of money management,” says Rebell. “There are certain financial basics that we all need to be good with before we even start thinking about investing and this book really helps with that.”

“Cash Out: Win the Wealth Game by Walking Away” by Julian and Kiersten Saunders

“Cashing Out” explains that the corporate roadmap may not prepare you for financial freedom. Julian and Kiersten Saunders discuss how to break free from corporate America and how to set up your finances so you live your life and spend your time as you please.

The Husband and Wife Team say they wrote this book because many personal finance books fail to take into account how black Americans live, work, and manage their money. They deal with spending, saving, and investing, but from the perspective of the black American experience.

“Again, this is a book that gives you practical advice on getting your financial house in order,” says Rebell. “The fact that the goal is to have you ready to retire in 15 years and have a solid financial foundation, whether or not you work for an American company, is a good thing.”

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FTC says Bezos and Jassy must testify in Amazon Prime investigation https://premudraja.net/ftc-says-bezos-and-jassy-must-testify-in-amazon-prime-investigation/ Thu, 22 Sep 2022 17:24:05 +0000 https://premudraja.net/ftc-says-bezos-and-jassy-must-testify-in-amazon-prime-investigation/ Federal regulators are ordering Amazon founder Jeff Bezos and CEO Andy Jassy to testify in the government’s investigation into Amazon Prime, dismissing the company’s complaint that executives are being unfairly harassed in the investigation into the service. popular streaming and buying. WASHINGTON (AP) — Federal regulators are ordering Amazon founder Jeff Bezos and CEO Andy […]]]>

Federal regulators are ordering Amazon founder Jeff Bezos and CEO Andy Jassy to testify in the government’s investigation into Amazon Prime, dismissing the company’s complaint that executives are being unfairly harassed in the investigation into the service. popular streaming and buying.

WASHINGTON (AP) — Federal regulators are ordering Amazon founder Jeff Bezos and CEO Andy Jassy to testify in the government’s investigation into Amazon Prime, dismissing the company’s complaint that executives are being unfairly harassed in the popular streaming and shopping service survey.

The Federal Trade Commission issued an order late Wednesday denying Amazon’s request to quash civil subpoenas issued in June to Bezos, the Seattle-based company’s former CEO, and Jassy. The order also sets a Jan. 20 deadline for the completion of all testimony from Bezos, Jassy and 15 other senior executives, who have also been subpoenaed.

Jassy took over the helm of the online retail and technology giant from Bezos, one of the richest people in the world, in July 2021. Bezos became executive chairman.

Amazon has not argued that the subpoenas “are overly burdensome in scope or timing,” FTC Commissioner Christine Wilson said in the order on behalf of the agency. However, the FTC agreed to change some provisions of the subpoenas that it said seemed too broad.

The FTC has been investigating since March 2021 the sign-up and cancellation practices of Amazon Prime, which has approximately 200 million members worldwide.

Amazon did not immediately respond to a Thursday request for comment on the FTC’s order.

In a petition to the FTC filed last month, the company opposed subpoenas to Bezos and Jassy, ​​saying the agency “has not identified any legitimate reason to require their testimony while ‘she can get the same information, and more, from other witnesses and documents.” .” Amazon said the FTC is suing Bezos, Jassy and the other executives, calling the information requested in the subpoenas “overly broad and burdensome.”

The company said it cooperated with FTC staff to provide relevant information, offering some 37,000 pages of documents.

The investigation expanded to include at least five other Amazon-owned subscription programs: Audible, Amazon Music, Kindle Unlimited, Subscribe & Save, and an unidentified third-party program not offered by Amazon. Regulators asked the company to identify the number of consumers who signed up for the programs without giving consent, among other customer information.

With around 150 million subscribers in the United States, Amazon Prime is a key source of revenue, as well as a wealth of customer data, for the company, which runs an e-commerce empire and ventures into cloud computing, “smart” personal technology and beyond. . Amazon Prime costs $139 per year. The service added a coveted feature this year by securing exclusive video rights to the NFL’s “Thursday Night Football.”

Last year, Amazon unsuccessfully requested that FTC Chair Lina Khan withdraw from separate antitrust investigations into its operations, saying its public criticism of the company’s market power before it joined the government prevents it from being impartial. Khan was a fierce critic of tech giants Facebook (now Meta), Google and Apple, as well as Amazon. She came to the antitrust scene in 2017, writing an influential study called “Amazon’s Antitrust Paradox” while a law student at Yale.

Copyright © 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.

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Boeing to cut nearly 150 finance jobs in the United States https://premudraja.net/boeing-to-cut-nearly-150-finance-jobs-in-the-united-states/ Wed, 21 Sep 2022 01:48:00 +0000 https://premudraja.net/boeing-to-cut-nearly-150-finance-jobs-in-the-united-states/ The Boeing logo is seen on the side of a Boeing 737 MAX at the Farnborough International Airshow in Farnborough, Britain July 20, 2022. REUTERS/Peter Cziborra/File Photo Join now for FREE unlimited access to Reuters.com Register Sep 20 (Reuters) – Planemaker Boeing Co (BA.N) said on Tuesday it plans to cut around 150 finance jobs […]]]>

The Boeing logo is seen on the side of a Boeing 737 MAX at the Farnborough International Airshow in Farnborough, Britain July 20, 2022. REUTERS/Peter Cziborra/File Photo

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Sep 20 (Reuters) – Planemaker Boeing Co (BA.N) said on Tuesday it plans to cut around 150 finance jobs in the United States this year to simplify its corporate structure and focus more resources on manufacturing and product development.

The company will reduce staff in its information technology and finance departments, Boeing said in a statement emailed to Reuters.

Boeing, which has dealt with engineering and production issues in the past, said it increased its workforce by about 10,000 employees earlier this year and stepped up hiring in its engineering and manufacturing departments to meet market demand.

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Following two 737 MAX crashes in 2018 and 2019, the Federal Aviation Administration (FAA) has pledged to take a closer look at Boeing and delegate less responsibility to the company for aircraft certification.

Last month, the US government approved delivery of the first Boeing 787 Dreamliner since 2021. read more

Boeing halted deliveries in May 2021 after the FAA raised concerns about its proposed inspection method. In September 2020, the FAA said it was investigating manufacturing defects in some 787 airliners.

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Reporting by Shivani Tanna in Bengaluru; Editing by Sherry Jacob-Phillips

Our standards: The Thomson Reuters Trust Principles.

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SeatGeek Bucks Late-Stage Funding Trend, Raises $238M to $1B – Sportico.com https://premudraja.net/seatgeek-bucks-late-stage-funding-trend-raises-238m-to-1b-sportico-com/ Mon, 19 Sep 2022 09:58:36 +0000 https://premudraja.net/seatgeek-bucks-late-stage-funding-trend-raises-238m-to-1b-sportico-com/ SeatGeek recently raised $238 million in Series E funding at a pre-money valuation of $1 billion. Accel led the round with an investment of $100 million. Wellington Management, Arctos Sports Partners and Utah Jazz founder Ryan Smith also participated. Large, late-stage financing rounds have been scaled back and reduced in 2022, in part because companies […]]]>

SeatGeek recently raised $238 million in Series E funding at a pre-money valuation of $1 billion. Accel led the round with an investment of $100 million. Wellington Management, Arctos Sports Partners and Utah Jazz founder Ryan Smith also participated.

Large, late-stage financing rounds have been scaled back and reduced in 2022, in part because companies want to avoid raising capital at depressed valuations as public market fees have fallen by 70% or more in some cases. . But Chad Hutchinson (Partner, Arctos Sports Partners) said good companies can still get funding.

“[SeatGeek resides in] rare air, growing well above 100% [YoY] at scale with a great team and all committed to a great mission,” said Accel Partner John Locke.

Accel believes the company is also well positioned to take market share in an evolving ticketing landscape. “The world is moving towards an integrated experience where the lines between primary and secondary markets are blurred. We all want to be able to split or sell our tickets as needed and don’t want to work with two different companies to do so. To win in box office, you have to have both,” Locke said. SeatGeek does. Ticketmaster, is the only other large-scale ticketing company in the United States that can make this claim.

Taken from JWS:SeatGeek was not supposed to be a private company at this point. The company’s plans to go public were cut short by COVID-19, and the ensuing sports hiatus forced those conversations to be put on the back burner.

SeatGeek resumed discussion last October, reaching a definitive merger agreement with publicly traded RedBall Acquisition Corp. at a pre-money valuation of $1.35 billion. But in the months that followed, SPACs quickly fell out of favor with investors and regulatory scrutiny of the blank check companies intensified, making it difficult to close the deal. In Q2 2022, SeatGeek was left with two options: renegotiate with RedBall and go public via SPAC on a different level or stay private, raise a bunch of capital and file on its own at a later date.

He ultimately chose the latter, and SeatGeek is on pace to post more than $400 million in net revenue this year, up from around $200 million pre-pandemic.

“We are more excited than ever about the future of SeatGeek. The business is well ahead of our SPAC plans and the momentum in all aspects of our business is strong. We want to continue to be aggressive and for now, it’s easier as a private company,” Locke said.

Accel was so encouraged by the growth brought about by SeatGeek’s integrated primary and secondary market solution that it ended up investing twice as much as it had previously committed in the PIPE associated with the proposed RedBall SPAC merger. .

Accel is a longtime supporter of SeatGeek. The venture capital firm led the company’s $35 million Series B in 2014 with an investment of $30 million and has invested an additional $20 million over the past eight years.

Initially, SeatGeek’s tech-focused team caught the eye of Accel. “SeatGeek is the only technology company in the ticketing market. Most of the team works in product and engineering, and I would put the team up against the best companies we’ve worked with at Accel,” Locke said. This group includes Spotify, Slack and Meta.

Accel’s investment thesis on the company remains, as does its belief that the experiential economy will continue to thrive. What has changed is SeatGeek’s vision. “These guys came to the conclusion that to build a really big and important business, they would have to build a core ticketing stack,” Locke said. SeatGeek bought Israeli startup TopTix to serve as the basis for its core platform in April 2017.

The decision to expand into the primary was a big step for the company, according to Locke. The costs of entering the market are prohibitive and the technology stack needed to maintain it is a challenge to build. But if you manage to integrate the two markets and land customers in the primary market, the primary market can drive sales in the secondary market and both markets will benefit from the combined scale.

“There really was no [another market participant] which has gone hand in hand with Ticketmaster in primary for a long time, if ever,” Locke said. “Getting the local core team has been a real boon to getting more consumers to use SeatGeek for all kinds of local events.”

It took time for SeatGeek to launch its core business. But now it seems to be gaining momentum. The company has signed several professional sports organizations, including the Cowboys, Nets, Cavs and Smith’s Jazz, as customers.

Arctos’ customer portfolio convinced him that SeatGeek was different. The fact that the platform could be useful for the entire portfolio made the investment opportunity a no-brainer. “There was this constant turnover in the background of that disrupts ticketing in a way that happens in the primary market, that trickles down to the secondary market, and that was SeatGeek,” Hutchinson said.

Ticketmaster remains the industry’s 500-pound gorilla, but SeatGeek intends to play for the top spot in the years to come. “Our customers radically prefer [the platform] from the point of view of making fans happy and making more money. The market share gains we have had [since launching in 2017] bear it. If we keep doing our job, we will keep taking market share,” said Jack Groetzinger (CEO, SeatGeek).

The company plans to use the newly raised capital to “double the product itself and the fan experience; all the things that led to gaining market share,” Groetzinger said. Ultimately, this means investing in and growing the development team.

Locke envisions SeatGeek’s open API architecture eventually tipping the scales in its favor. In contrast, Ticketmaster has historically taken a more siled approach. “In a world where some of the tech giants are getting more into streaming and rights, and it’s a different set of players participating in those live events in one way or another, more and more teams are going to take an open approach with their main ticketing stack,” he said.

Accel believes SeatGeek has the opportunity to create a “Live Nation-size” business. In addition to the trust she places in the team and its position in the market, there is an opportunity for international expansion worth pursuing.

The data that SeatGeek captures on shoppers can also help open up new revenue streams. “Fanatics crushed it with their analytics and capturing the fan. The ticketing side of the equation is another way to do it. There are a number of products that can be pushed into the ticket,” Hutchinson said. FWIW, Live Nation has a market capitalization of approximately $22 billion. This final round is expected to be SeatGeek’s last before an IPO, and the VC noted that the company has more than enough capital to get to this point. “We were on the doorstep, so the business is ready,” Locke said. “When the market comes back and the time is right, we’ll be ready to go.”


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JPMorgan set to resume public finance business in Texas https://premudraja.net/jpmorgan-set-to-resume-public-finance-business-in-texas/ Fri, 16 Sep 2022 01:29:55 +0000 https://premudraja.net/jpmorgan-set-to-resume-public-finance-business-in-texas/ NEW YORK: JPMorgan Chase & Co is ready to resume its public finance business in Texas after being largely absent from this lucrative market for more than a year, following the enactment of two local laws aimed at punishing banks for their weapons to fire and their energy policies . The largest bank in the […]]]>

NEW YORK: JPMorgan Chase & Co is ready to resume its public finance business in Texas after being largely absent from this lucrative market for more than a year, following the enactment of two local laws aimed at punishing banks for their weapons to fire and their energy policies .

The largest bank in the United States sent a letter to the Texas Municipal Advisory Council, an industry association, which it also addressed to the public finance division of the Texas attorney general’s office.

The letter indicated the company’s interest in underwriting municipal securities for the state and its myriad issuers, including cities, counties and school districts.

The letter is a key step in participating in the Texas subscription market, one of the largest in the country. This amounts to a formal assertion by the bank that it does not “boycott energy companies” nor does it have “a practice, policy, guidance or directive that discriminates against energy companies”. a firearms entity or a firearms trade association”.

Texas gun law, backed by local Grand Old Party (GOP) lawmakers, says state governments can’t work with companies unless they verify they’re not ” discriminate” not against firearms entities.

JPMorgan does not fund companies that make military-grade weapons for civilians.

JPMorgan, the second-largest underwriter in the US$4 trillion (RM18.1 trillion) market for US municipal debt, has long argued it can comply with the gun law, which came in effective September 1, 2021.

At the time, the bank said its business practices should enable it to certify compliance with the gun law, but the legal risk of the “ambiguous” law prevented it from bidding on most contracts. business with Texas public entities.

A JPMorgan spokesperson declined to comment. The Texas attorney general’s office did not immediately respond to a request for comment.

In May, Foley & Lardner LLP, a law firm representing JPMorgan, sent a letter to officials at the Attorney General’s office saying it believed the bank could verify compliance with the two new laws, marking a key step for the back from the bank.

In Texas, the bureau approves nearly all municipal bond sales before they can be closed. The latest milestone comes less than a month after JPMorgan avoided being listed among the 10 companies designated as energy boycotters by Texas Comptroller Glenn Hegar. —Bloomberg

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WM Datenservice establishes another important building block for the digitization of the securities industry with Nucleus Finance as first partner https://premudraja.net/wm-datenservice-establishes-another-important-building-block-for-the-digitization-of-the-securities-industry-with-nucleus-finance-as-first-partner/ Wed, 14 Sep 2022 10:00:00 +0000 https://premudraja.net/wm-datenservice-establishes-another-important-building-block-for-the-digitization-of-the-securities-industry-with-nucleus-finance-as-first-partner/ NEW YORK & ZUG, Switzerland–(BUSINESS WIRE)–With “Tokenization as a Service” (TaaS), WM Datenservice opens up its well-known and successful interface infrastructure for cryptocurrencies. As part of the service, data of issued securities is recorded, structured and transmitted to tokenizers and cryptocurrency registries. The first partner in the area of ​​”Tokenization as a Service” (TaaS) is […]]]>

NEW YORK & ZUG, Switzerland–(BUSINESS WIRE)–With “Tokenization as a Service” (TaaS), WM Datenservice opens up its well-known and successful interface infrastructure for cryptocurrencies. As part of the service, data of issued securities is recorded, structured and transmitted to tokenizers and cryptocurrency registries.

The first partner in the area of ​​”Tokenization as a Service” (TaaS) is Nucleus Finance AG.

Together, Nucleus Finance AG and WM Datenservice have developed this new “Tokenization as a Service” (TaaS) service as part of a joint project.

A first proof-of-concept project for a classic bond and a structured product was successfully implemented based on data from WM Datenservice and systems from Nucleus Finance AG. In doing so, Nucleus Finance AG brings a new TaaS approach that enables on-chain and off-chain elements for cost-effective use of blockchain technology. The first implementation is on the Casper Blockchain (see details on CasperLabs below).

Based on algorithmic financial smart contracts (SFC), efficient, secure and verifiable security tokenization is enabled. With the help of these SFCs from Nucleus Finance AG, the digital representation of the title as a title deed is ensured on the one hand. On the other hand, by using the open source standard “ACTUS”, the secure and verifiable, machine-readable settlement of securities in the lifecycle is ensured in a cost-effective manner.

For now, Nucleus Finance AG and WM Datenservice will focus their TaaS services on simple structured products such as certificates, warrants and bonds. Depending on client needs, other types of securities could be covered.

WM Datenservice remains open to offer TaaS services with various technology partners. The aim is to make the existing infrastructure of WM Datenservice available as efficiently and comprehensively as possible for the further digital development of the securities market.

WM Datenservice, Frankfurt

WM Datenservice is the central authority and data provider for the global financial market. WM Datenservice provides the financial sector with basic data, identifiers and market information. In other words, WM Datenservice offers its clients solutions in an increasingly data-centric world and ensures that the highest quality financial data is delivered at the right time and in the right form. This is based on many years of expertise, which enables WM Datenservice to provide the financial market with standardized, essential and qualitative data and services.

Nucleus Finance AG, Zug (CH)

Nucleus Finance AG, based in Zug (CH), is a joint venture between CasperLabs. a leading enterprise blockchain developer, and Ariadne Business Analytics AG, a provider of next-generation software systems for banks and financial service providers. Nucleus Finance AG combines specialist innovations from finance and blockchain technology to deliver next-generation product capabilities in financial services: these include new core banking system capabilities, real-time verifiable audits, tokenization of existing and new digital securities and commodities, as well as trading and securitization. financial contracts.

The new capabilities are enabled by the immutability, security, and smart contract capabilities of the deployed Casper Blockchain, combined with the proven Algorithmic Contract Types Unified Standard (ACTUS) for financial instruments used by Ariadne. Financial instruments tokenized by Nucleus Finance are able to provide a consistent and interoperable framework required for the future of finance.

CasperLabs, Zug (CH)

CasperLabs, Zug (CH) is a leading provider of Blockchain solutions for enterprise customers and develops innovative and scalable software in the field of Blockchain and web3. Guided by open source principles, CasperLabs is committed to providing a reliable and secure framework for building private, public, and hybrid Blockchain applications. As a result, the Casper Blockchain has been designed to meet the exact needs of businesses and offers specific features that promote enterprise Blockchain solutions. The CasperLabs team has extensive expertise in software development and brings experience from companies such as Google, Adobe, AWS, Dropbox and Microsoft. To learn more, visit casperlabs.io.

Ariadne Business Analytics AG, Zug (CH)

Ariadne Business Analytics AG, Zug (CH) specializes in next-generation banking software based on standardized, digitized and algorithmic financial smart contracts. For FinTechs and new entrants in the financial sector, but also for the modernization of traditional banks, Ariadne offers SolitX, a new approach to basic banking solutions on a modern open banking architecture. This is fully integrated with the AnalytX advanced risk management, finance and accounting solution. The Ariadne software is based on the open source ACTUS standard as the basis for standardized algorithmic financial instruments. Ariadne offers its customers a scalable transition from outdated legacy systems to the next generation of banking solutions and enables an efficient combination with blockchain technology.

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Measures to curb food inflation will be effective in coming weeks, says finance ministry https://premudraja.net/measures-to-curb-food-inflation-will-be-effective-in-coming-weeks-says-finance-ministry/ Mon, 12 Sep 2022 16:40:00 +0000 https://premudraja.net/measures-to-curb-food-inflation-will-be-effective-in-coming-weeks-says-finance-ministry/ On Monday evening, the Ministry of Finance described as “moderate” the increase in retail price inflation from 6.71% in July to 7% in August, and attributed it to an unfavorable base effect and to an increase in food and fuel prices, which he described as “transitional components”. ” consumer price inflation. Core inflation, which excludes […]]]>

On Monday evening, the Ministry of Finance described as “moderate” the increase in retail price inflation from 6.71% in July to 7% in August, and attributed it to an unfavorable base effect and to an increase in food and fuel prices, which he described as “transitional components”. ” consumer price inflation.

Core inflation, which excludes these “transitional components” of food and drink as well as fuel and lighting inflation, was recorded at 5.9% in August, remaining below the limit of 6% tolerance for the fourth month in a row, the ministry said.

“Despite erratic monsoons and negative seasonality in vegetable prices, food inflation in July remains below the April peak of the current year. To soften the prices of edible oils and pulses, tariffs on items imports have been rationalized periodically and stock limits on edible oils have been maintained, to avoid hoarding,” the ministry said.

Pointing out that the inflation of “oils and fats” and “pulses and products” moderated to 5.62 percent and 2.52 percent respectively, the ministry said the government “has banned exports of foodstuffs such as wheat flour/atta, rice, maida, etc. to maintain stability of domestic supplies and curb price increases”.

“The impact of these measures should be felt more significantly in the weeks and months to come,” he said.

“Along with global inflationary pressures, inflationary expectations remain anchored in India with stable core inflation,” the ministry said, citing a July survey from IIM-Ahmedabad which said “the expectations survey corporate inflation in a year fell by 34 basis points to 4.83%”. 5.17% in June”. One basis point is equal to 0.01 percentage point.

“Inflation expectations fell below 5% after 17 months,” the ministry said. “Prices of key inputs like iron ore and steel have sobered up on world markets. This, coupled with the measures taken by the government. rationalizing input pricing structures to increase domestic supply, has helped keep consumer goods cost inflation under control,” he concluded.

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Secure business capital with interest-free banking https://premudraja.net/secure-business-capital-with-interest-free-banking/ Sun, 11 Sep 2022 00:35:55 +0000 https://premudraja.net/secure-business-capital-with-interest-free-banking/ The importance of small and medium enterprises (SMEs) for any country, especially Nigeria, cannot be overstated. It is therefore not surprising that SMEs are one of the foundations of the country’s economic development. One of the biggest challenges small and medium-sized enterprises (SMEs) face is access to finance. High qualification thresholds, high interest rates, and […]]]>

The importance of small and medium enterprises (SMEs) for any country, especially Nigeria, cannot be overstated. It is therefore not surprising that SMEs are one of the foundations of the country’s economic development.

One of the biggest challenges small and medium-sized enterprises (SMEs) face is access to finance. High qualification thresholds, high interest rates, and stringent requirements for collateral, financial history, and other conditions are some of the hurdles faced by SMEs looking to raise funds.

While bank financing will continue to be crucial for the SME sector, there is widespread concern that credit constraints are simply becoming “the new normal” for SMEs and entrepreneurs. It is therefore necessary to widen the range of financing instruments available to SMEs and entrepreneurs, in order to allow them to continue to play their role in investment, growth, innovation and employment.

One of the cheapest financing options for start-ups or small businesses is the interest-free bank facility. Interest-free banking has its roots deep in Nigeria’s financial cycle. Its acceptance melted the initial skepticism, suspicion and religious phobia associated with the concept.

Generally, interest-free financial products have played a vital role in the growth and development of the Nigerian capital market ecosystem.

Interest-free financing, also known as Islamic finance, refers to how businesses and individuals raise capital in accordance with Sharia or Islamic law. Interest-free banking operates on principles such as: the prohibition of interest in debt and foreign exchange contracts; prohibition of uncertainty or speculative behavior in business transactions; prohibition of all forms of gambling. It also prohibits funding of unethical concerns such as alcohol, tobacco, munitions manufacturing and adult entertainment establishments; to only cite a few.

Interest-free banks engage in partnership contracts, commercial contracts, leasing contracts and other financial services in accordance with Islamic commercial jurisprudence. There are three interest free banks operating in the country, Jaiz Bank Plc, Taj Bank and Lotus Bank Limited.

Growing adoption of interest-free financing

Jaiz Bank Plc Managing Director Hassan Usman on the bank’s 10th anniversary allayed fears of an alleged Islamization program, saying Nigerians have finally embraced the interest-free banking model having benefited more of 100,000 micro, small and medium-sized enterprises (MSMEs).

According to Usman, “the claim of Islamization was one of our main challenges when we opened our doors 10 years ago, I think the claim stemmed from the lack of basic information by staff and customers as well as by the critics. But the demonstration of our products helped us to let people know that Islamic banking is about commerce.

“We are setting standards and leading the interest free banking industry especially in Nigeria. When you do business with us, you are free to identify the assets in which you wish to invest in order to benefit from our loan guarantee. Unlike conventional banks where you provide loans or overdrafts to buy the assets, we generally take business risks with clients. And those who understand our fundamental advantages have refused to return to conventional banks.

He said, “We provide equity funds for women to settle; grow their businesses. We also have over 100,000 on Katafu Insurance; all these value-added services have been the strength of the bank over the past 10 years.

“We have mainly had an impact on the delivery of housing to over 30,000 Nigerians, we have invested around 75 billion naira in the agriculture sector, especially rice and other agriculture-related commodities. Our portfolio of small and medium enterprises (SMEs) has grown by over 6 billion naira.

Differences between Islamic and traditional banks

The main difference between traditional finance and Islamic finance is that under Sharia, some of the activities used in conventional finance are strictly prohibited. It should be noted the non-acceptance or payment of interest (called Riba) on the money. The reason is simple; money is seen only as a medium of exchange in Islamic banking, unlike traditional banking where money is seen as an asset.

Interest is thought to contribute to inequality and exploitation, so there are no real “loans” in Islamic banking. This is how loans for Islamic finance work; for the Islamic Bank to realize a return on the money lent, it would have to acquire shares or an equity interest in a non-monetary asset. It also requires the lender(s) to participate in risk sharing.

Access to interest-free loan facility

Jaiz Bank, while giving conditions for access to finance, said the business must have been in existence for at least one year; the company must have a very good cash flow and a good turnover; the company must be registered with the CAC (optional but highly recommended); the company must have an account with the Bank; and the company must have operated the account for at least three months.

Overall, the implementation of interest-free banking in Nigeria is poised to promote healthy competition in the financial market. This could lead to lower interest rates, which would help boost the Nigerian economy and ensure its steady growth.

It was noted that in Nigeria, the future of Islamic finance is very bright. However, as more businesses in Nigeria adopt Islamic financial practices, one can only hope that the Central Ban of Nigeria (CBN) will issue consistent policies, rules and guidelines on risk management. and transparent financial reporting for interest-free banking and finance in Nigeria.

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Bajaj Finance is the favorite mutual fund stock, ITC is the best-selling https://premudraja.net/bajaj-finance-is-the-favorite-mutual-fund-stock-itc-is-the-best-selling/ Fri, 09 Sep 2022 01:30:00 +0000 https://premudraja.net/bajaj-finance-is-the-favorite-mutual-fund-stock-itc-is-the-best-selling/ Bajaj Finance was the most bought stock by mutual funds, followed by Maruti Suzuki. ITC is where mutual funds have cut investment on profit booking after the stock soared 50% this year. Despite a 57% drop in Zomato’s share price this year, mutual funds bought ₹505 crore of the stock. One of the biggest laggards […]]]>
  • Bajaj Finance was the most bought stock by mutual funds, followed by Maruti Suzuki.
  • ITC is where mutual funds have cut investment on profit booking after the stock soared 50% this year.
  • Despite a 57% drop in Zomato’s share price this year, mutual funds bought ₹505 crore of the stock.
  • One of the biggest laggards of the year – IT companies like Infosys, Wipro, HCL Technologies were also on the list of stocks sold by mutual funds.

Indian markets remained extremely volatile due to risky global indicators such as monetary policy tightening and potential recession. However, the return of Foreign Institutional Investors (FIIs) in recent months to Indian markets has encouraged some buying.

So far in FY23, foreign portfolio investors (REITs) have significantly reduced their holdings in IT, while stockpiling autos and consumer staples, according to a report by YES Securities. Mutual funds, however, bet on the financial sector and automotive stocks.

Here are the stocks in which mutual funds have increased their investments

Top 10 stocks where MFs increased their holdings Approximate purchase value
Bajaj Finance ₹1,071,000,000
Maruti-Suzuki ₹899crore
Kotak Mahindra Bank ₹676crore
Trust Industries ₹619 crore
Asian Paintings ₹545 crore
Hindustan Unilever ₹514,000
Zomato ₹505,000,000
SBI ₹471crore
Gland Pharma ₹463crore
SBI card ₹404,000,000

Source: YES Securities, July Data, Net Asset Value Database

Bajaj Finance is the first choice for the mutual fund industry
Bajaj Finance was the first stock that saw the most mutual fund purchases. Analysts say the company entered FY23 on a strong note, as evidenced by its FY23 first quarter numbers.

“This performance was achieved despite the continued disruption to business in the first half of the year, high credit costs and higher liquidity buffers. We believe that strong growth in assets under management and momentum in earnings would further accelerate from now on,” said a report from Sharekhan.

The report suggests that currently, Bajaj Finance stock offers an attractive buying opportunity as it has corrected more than 10% from its 52-week high.

“Furthermore, the digital transformation and omnichannel strategy bodes well for its growth goals as well as operational efficiencies going forward,” the report said.

Carmaker Maruti Suzuki India is another stock that saw the highest buys. The stock has jumped nearly 30% in the past six months as the company’s new launches have received strong reactions.

“Maruti Suzuki India is expected to witness a recovery in domestic demand with sales volume supporting growth, despite the short-term challenges of electronic component shortages. Selling requests remain strong with the order book currently at over 3.5 lakh units. The new launches, Brezza and Grand Vitara, received a strong response from customers, with orders for over 90,000 units in a short time. We expect the growth momentum to continue in fiscal 2023E, driven by normalizing economic activity and improving rural sentiments,” a Sharekhan report said.

However, the surprise in the peloton was Zomato. Despite a 57% drop in Zomato’s share price this year, it has found favor with mutual fund companies – with a purchase worth ₹505 crore.

MFs have reduced their investments in these stocks

Top 10 stocks where MFs died About. value of stock sold
ICC ₹1,020,000,000
Wipro ₹691crore
SBI life insurance ₹670,000,000
HDFC Bank ₹668crore
L&T ₹555crore
Dr. Reddy’s Laboratories ₹450crore
Ambuja cements ₹440,000,000
HCL Technologies ₹437crore
HDFC ₹427crore
Infosys ₹423crore

ITC was the top-selling mutual fund
ITC is the first stock on the list that has seen mutual funds reduce their investments. Interestingly, Kolkata-based FMCG-to-cigarette conglomerate’s stock has soared 50% this year, thanks to strong financials in previous quarters.

Aggregate industry data shows that most mutual fund companies have sold their stake in ITC. Most of the selloff in the stock could be due to profit booking, as a strong rally in the stock has been seen after many years.

PPFAS MF said that while the stock continues to be reasonably valued, its appeal has waned.

“We were buyers in ITC (previously) and most purchases were made between a price of ₹140 to ₹210. Although the stock continues to be reasonably valued, the attractiveness has obviously reduced a bit considering the share price has doubled from the lows,” said Rajeev Thakkar of Parag Parikh Financial Advisory Services ( PPFAS) Asset Management Company in a monthly fact sheet.

However, in July, PPFAS AMC reduced its holdings in ITC to 7.48% of its total assets under management (AUM) from 9.18% in June,

One of the biggest laggards of the year – IT companies like Infosys, Wipro, HCL Technologies also made the “sell” list.

The HDFC twins, which have struggled to produce returns this year, were also on the list amid ongoing proceedings to merge HDFC with HDFC Bank.

SEE ALSO: IndiGo shares fall over 4% as co-founder Rakesh Gangwal offloads ₹2,000cr stake
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