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Wirecard Joins Retailtech Hub – Powered by MediaMarktSaturn and Plug and Play – to Empower Future Commerce Innovation

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  • Retailtech Hub brings together startups and established digital leaders such as Wirecard to test and pilot new technologies and digital business models
  • Partnership underlines Wirecard’s commitment to shaping the future of digital commerce

Wirecard, the global innovation leader for digital financial technology, today announced it is partnering with Retailtech Hub, a digital innovation platform powered by MediaMarktSaturn and the global startup ecosystem Plug and Play. Retailtech Hub brings together startups, retailers, major consumer brands, suppliers and investors with the aim of empowering the next generation of retail technology innovation. Amongst the retail partners are market leaders such as Lidl and s.Oliver.

Retailtech Hub was launched in 2017 and concentrates on identifying, piloting and bringing innovation to the world of commerce. Its mission is to facilitate an open experience exchange between corporate partners as well as manage a mentoring program concentrating on startup business development and expansion. The initiative focuses on all topics along the commerce and retail value chain.

The cooperation focuses on the digital transformation in global trade. Through partnerships and cooperations, Retailtech Hub ensures that retailers and their partners optimize their core strategies for the challenges of digital change. Payment and financial products as well as data analytics based on payment flows play a central role in this.

“One of our core goals at Wirecard is to encourage innovation and shape the future of financial commerce. The cooperation with MediaMarktSaturn and Plug and Play offers us exciting ways to establish new business models and further develop innovative technologies. The objective is to always provide momentum for growth in the global portfolio of the Wirecard platform,” said Jörn Leogrande, EVP Wirecard Labs.

“In a time where payment plays such an important role for the customer, we are delighted to welcome Wirecard as a new partner. Our aim is to change the world of commerce with the best startups and digital-driven corporations. As a global innovation leader for digital financial technology, Wirecard is a perfect fit and we look forward to their influence and guidance as we introduce them to exciting new companies and technologies,” added Thorsten Marquardt, Managing Director of the Retailtech Hub.

 

SOURCE Wirecard AG

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The Rising Global Impression of Manipal’s AUA, College of Medicine

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Manipal’s American University of Antigua (AUA), College of Medicine is on their mission to execute the promise of addressing the global shortage of physicians. AUA is proclaiming their worldwide presence with each association and partnership.

AUA, the top medical school in the Caribbean has been securing its highest rank among the best medical schools consistently. The medical graduates of AUA are licensed to practice in all the 50 states of the United States of America. And now with agreements with various medical schools and hospitals in other countries, AUA is spreading its wings far and wide enabling the dreams of numerous students aspiring to take up the medical profession.

Recently, an agreement has been signed between American University of Antigua and Warwick Medical School with the purpose of enabling students of AUA’s College of Medicine transfer to WMS to finish their medical degree. This partnership between both these prestigious universities aims at nurturing a diverse academic community to propagate global medical health propelled by their promise of delivering nothing but excellence.

Expanding its reach, AUA has entered into a new articulation agreement with Royal Crown College of Business and Technology Inc. to increase the scope for students to fulfil their passion to become physicians. “We are pleased to partner with Royal Crown College and provide their successful students the opportunity to continue their medical education at AUA,” said AUA President Neal Simon.

According to the agreement, after the successful completion of the premedical program or prerequisite courses at Royal Crown College, qualified medical students will be eligible to complete their first two years of medical study at AUA in Antigua and Barbuda, and the last two years in AUA’s affiliated hospitals in the United StatesCanadaUnited Kingdomand India.

The next recent and proud partnership has been sealed between AUA and Yeovil District Hospital, Great Britain. “Learning from the professors and physicians at Yeovil District Hospital and performing rotations under the talented professionals there provides our students an enhanced clinical experience, as well as the opportunity to study in Great Britain” said AUA President Neal Simon.

This agreement allows qualified AUA students to complete their clinical rotations at Yeovil District Hospital, located in Somerset, England. Upon completion of the program, students will receive a medical degree from AUA, a Yeovil District Hospital graduate certificate program transcript and a Yeovil District Hospital certificate of completion.

A similar agreement was recently signed between AUA and University Hospitals Coventry and Warwickshire NHS Trust.  This agreement too enables qualified AUA students to complete their core and elective clinical rotations at UHCW, Coventry, United Kingdom. Students who successfully complete their clinical rotations from UHCW, and fulfil all other requirements to graduate from AUA, will receive medical degree from AUA, UHCW graduate certificate program transcript and a UHCW certificate of completion.

Further, on Saturday, May 4, and Sunday, May 5, it was a matter of pride for AUA College of Medicine to have hosted the ninth mid-year conference of the Global Association of Physicians of Indian Origin (GAPIO) at AUA’s campus. GAPIO is a non-profit organization that is dedicated to empowering physicians of Indian origin providing affordable healthcare, contributing to local and regional community development and helping reduce health inequalities on a global level.

The goal of this collaboration was to gather physicians of Indian origin to initiate connections, share ideas and learn through a singular platform. Sessions on recent developments and advancements in cardiology, the metabolic syndrome like obesity and diabetes, nephrology with a focus on transplants and neurology were an integral part of this conference. The event also included sessions on artificial intelligence in healthcare, Vedic Wisdom – leadership in medicine and reaching the unreached and global opportunities in healthcare.

“The conference is in celebration of India’s vital contributions to global healthcare – a matter AUA commemorates,” said AUA President Neal Simon. “As a university that strives to advance the field of medicine and shape physicians who come from underrepresented minorities, we are honoured to host the event.”

 

SOURCE Manipal’s American University of Antigua (AUA)

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Geoswift Secures SVF Licence as Hong Kong Steps Closer Towards a Cashless and Digital Payment World

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Geoswift, a leading provider of cross-border payment solutions between China and the rest of the world, announced today that its Hong Kong entity has been granted a coveted Stored Value Facilities (“SVF”) Licence by the Hong Kong Monetary Authority. With the SVF licence, Geoswift can provide greater convenience and a better experience for consumers and merchants and move closer to providing a seamless cashless, digital payment world.

Stored value facilities are changing the fintech landscape in Hong Kong, and as more companies such as Geoswift hold SVF licences, it is creating a competition which is innovating the marketplace. This increase in diversity will result in new services which will bring more convenience and choice to both consumers and merchants.

Geoswift has been recognised as the leading global payments specialist, providing value-added, one stop payment solution for the e-Commerce, education and travel sectors. With the acquisition of an SVF licence, Geoswift can now integrate its product offerings and craft more comprehensive and diverse payment solutions to bring even greater convenience and better payment experience to consumers and merchants, alongside its other regional licences.

“With Hong Kong’s proximity to China and its position as the gateway to ChinaHong Kong is one of the most well-connected fintech hubs in the world. Obtaining the SVF licence in Hong Kong does not only allow us to meet our future growth plans within Asia Pacific and the Greater Bay Area in particular, but also enable us to expand our current set of product offerings to offer more comprehensive cross-border payments solutions globally.”

Raymond Qu, Founder and CEO of Geoswift, said, “As a market-leading provider of cross-border payments solutions in and out of China, Geoswift takes a long view on all of our product developments and actively seeks opportunities to deliver sustainable value for our partners and clients today and tomorrow. With our new SVF licence as well as our other regional licences, we have a very solid foundation to deliver more comprehensive payment solutions to foster a truly cashless and digital payment world.”

 

SOURCE Geoswift

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Financial Institutions Utilize Diverse and Maturing Fintech Solutions

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The evolution of technology has completely reshaped many industries around the world. Now, almost every industry has incorporated technology into their business models in order to thrive among the competition. Sectors ranging from communication, food, education, business, to even finance have all integrated innovative and advanced technology. Specifically, the financial world has been deeply impacted by the growth of technology. Moreover, banks and firms have been heavily investing in financial technology or “fintech” solutions to provide their consumers with exceptional services. Fintech is described as a technology that seeks to improve or potentially automate financial services. For instance, many banks have launched mobile banking services which eliminate the need for consumers to physically go to a bank. Instead, consumers can now access their bank accounts, make payments, and deposit funds in the palm of their hand. A large majority of global banks, insurers, and investment managers have already dove into the fintech industry, however, within the next 3 to 5 years, even more are expected to enter into the market. Furthermore, with the adoption of fintech solutions, companies can expect a 20% average return on investment on their innovation projects. Through the use of these technologies, companies are able to create and deploy low-cost personalized products for consumers. And as a result, the innovative products are having a significant impact on the consumer, pressuring traditional firms to adapt to the competition. According to data compiled by Mordor Intelligence, the global fintech market is expected to register a CAGR of 13.2% during the forecast period from 2019 to 2024. CLPS Incorporation (NASDAQ: CLPS), First Data Corporation (NYSE: FDC), Overstock.com, Inc (NASDAQ: OSTK), BGC Partners, Inc. (NASDAQ: BGCP), LendingClub Corporation (NYSE: LC)

Primarily, infrastructure-based technologies, through platformification and open application interfaces (APIs) are reshaping the fintech industry. Other operation advancements such as robotic process automation, chatbots, and Distributed Ledger Technology are all enabling greater agility, efficiency, and accuracy. According to Capgemini’s 2018 World Payments Report, there were approximately 600 billion total digital transaction. Furthermore, the report suggests that digital transactions are on pace to grow by 46% over the next four years, growing to 876 billion transactions by 2021. Capgemini also notes that the Asian markets are expected to lead the pack, exhibiting a CAGR of 29% during the period. Other developing markets include regions like Central Europe, the Middle East and Africa, which are expected to register a CAGR of 20%. However, concerns over fraud and security are expected to undermine the industry as consumers fear that cyber attackers can access their accounts or e-wallets and steal personal information or even digital currency. Nonetheless, tech companies and financial institutions have partnered together in order to provide more secure platforms. “If you have not heard about the Fintech revolution that is happening right now, you need to get out from under your rock. These revolutionary advancements are not just impacting the financial industry. They have the potential to change the way we conduct transactions in all aspects of business,” said Daniel Newman, Chief Executive Officer of Broadsuite Media Group and Principal Analyst at Futurum. “Technology has driven us to where we are. As an industry with a heavy focus on technology, it is obvious that changes will happen rapidly and frequently. With the Fintech revolution being the newest disruptor of choice, the banking industry and its consumers will need to hold on for the ride. It will take some time for this technology is gain enough speed to become widely accepted. However, it is definitely on the horizon. Only time will tell what we can expect when we visit our local bank for this is only the beginning.”

CLPS Incorporation (NASDAQ: CLPS) earlier this week announced, “a strategic investment in Economic Modeling Information Technology Co., Ltd. (“EMIT”), a financial big data company. Upon closing of the transaction, CLPS will hold a 30% ownership stake in EMIT.

Established in 2017, EMIT was founded by a team of PhD faculty members from Shanghai University of Finance and Economics (“SHUFE”) in cooperation with SHUFE’s Fintech Research Institute. EMIT provides financial modeling and analysis services to financial services companies and delivers a full range of value-added data mining and data analytics IT solutions to its clients that include intelligent investment systems, risk warning systems, and credit card decision engine core systems. EMIT’s “financial data modeling platform + financial risk warning platform” business model provides its customers with comprehensive financial data services, such as financial data strategic planning, service mode design, and risk control.

Mr. Raymond Lin, Co-Founder and Chief Executive Officer of CLPS, commented, ‘Big data has become an important area of technological advancement in the financial industry. Our strategic investment in EMIT allows us to expand upon our expertise in providing the financial industry with applications of industry-leading technologies. EMIT’s expertise in data modeling, deep learning and machine learning, and blockchain technology will benefit CLPS’s future development by further expanding our client network. In addition, by offering applications of data mining, we will be able to extend our competitive edge in the banking, insurance and financial sectors.’

About CLPS Incorporation: Headquartered in Shanghai, China, CLPS Incorporation (the “Company”) (Nasdaq: CLPS) is a global leading information technology (“IT”), consulting and solutions service provider focusing on the banking, insurance and financial sectors. The Company serves as an IT solutions provider to a growing network of clients in the global financial industry, including large financial institutions in the US, EuropeAustralia and Hong Kong and their PRC-based IT centers. The Company maintains ten delivery and/or research & development centers to serve different customers in various geographic locations. Mainland China centers are located in ShanghaiBeijingDalianTianjinChengduGuangzhou and Shenzhen. The remaining three global centers are located in Hong KongSingapore and Australia. For further information regarding the Company, please visit: http://ir.clpsglobal.com.”

First Data Corporation (NYSE: FDC) is a global leader in commerce-enabling technology, serving approximately 6 million business locations and 4,000 financial institutions in more than 100 countries around the world. First Data Corporation and Fiserv (NASDAQ: FISV) recently announced that their boards of directors had unanimously approved a definitive merger agreement under which Fiserv will acquire First Data in an all-stock transaction. The transaction unites two premier companies to create one of the world’s leading payments and financial technology providers, and an enhanced value proposition for its clients. This highly complementary combination will offer leading technology capabilities that enable a range of payments and financial services, including account processing and digital banking solutions; card issuer processing and network services; e-commerce; integrated payments; and the Clover™ cloud-based point-of-sale solution. The combined company will offer comprehensive distribution channels and have deep expertise in partnering with financial institutions, merchants and billers of all sizes, as well as software developers. “I have long admired what Fiserv has achieved over the years, and I look forward to working with the talented associates of both companies as we set a higher standard of innovation and service in the industry,” said First Data Chairman and Chief Executive Officer Frank Bisignano. “Our goal at First Data has always been to provide our clients with the most comprehensive suite of innovative, highly-differentiated solutions and services, and I am excited by the significant value that the combination with Fiserv creates for all stakeholders.”

Overstock.com, Inc (NASDAQ: OSTK) is an online retailer and technology company based in Salt Lake City, Utah. Overstock.com, Inc. and its subsidiary tZERO Group, Inc. recently announced that Hong Kong-based private equity firm GSR Capital has retained tZERO to develop a smart contract token that will be utilized for an upcoming sale of cobalt. Subject to compliance with applicable regulatory requirements, the sale is expected to offer recurring tranches of electric vehicle (EV) battery-grade cobalt, with up to USD 200 Million of the material projected to be available for sale in 2019, with more planned for 2020. tZERO Group, Inc. is a majority owned subsidiary of Overstock.com, focusing on the development and commercialization of financial technology (FinTech) based on cryptographically-secured, decentralized ledgers – more commonly known as blockchain technologies. Since its inception, tZERO has pioneered the effort to bring greater efficiency and transparency to capital markets through the integration of blockchain technology. tZERO and GSR Capital intend to build an ecosystem in Asia for tokenized commodity purchase contracts that would simplify the process of identifying, purchasing and tracking the supply of rare minerals. The companies also envision adding a security token trading platform in the region, subject to compliance with applicable regulatory requirements. “We are excited to work with GSR and their partner on this innovative cobalt token offering,” said Overstock Chief Executive Officer and tZERO Executive Chairman, Patrick M. Byrne. “Smart contract automation of these transactions will significantly reduce overall costs while effectively improving transparency in rare earth metals purchases throughout the supply chain process. We look forward to bringing the future of commodities purchasing to the global marketplace.”

BGC Partners, Inc. (NASDAQ: BGCP) is a leading global brokerage and financial technology company.  BGC Partners, Inc. recently announced that it has completed the acquisition of Ed Broking Group Limited, an independent Lloyd’s of London insurance broker with a strong reputation across Accident and Health, Aerospace, Cargo, Energy, Financial and Political Risks, Marine, Professional and Executive Risk, Property and Casualty, Specialty and Reinsurance. Ed will become part of BGC’s insurance division, which was established in 2017 with the acquisition of Besso Insurance Group Limited. Steve Hearn, currently Group Chief Executive Officer of Ed, will become Head of BGC’s insurance division. Mr. Hearn will report directly into Mr. Lynn. Under the terms of the agreement, BGC acquired 100% of Ed, which includes broking operations under the Ed brand in the UK, SingaporeHong KongDubaiMiami and China; Ed’s German marine broking arm Junge & Co. Versicherungsmakler GmbH; Ed’s managing general agent (MGA) operations Globe Underwriting Limited based in the UK; Epsilon Insurance Broking Services Pty Ltd in Australia; and Cooper Gay (France) SAS, which is based in ParisShaun D. Lynn, President of BGC Partners, commented on the announcement: “We are delighted to complete the purchase of Ed, a company with a great reputation, a global footprint and an excellent management team that will continue to build on BGC’s success in growing the insurance brokerage business.”

LendingClub Corporation (NYSE: LC) was founded to transform the banking system to make credit more affordable and investing more rewarding. Leading fintech analytics platforms, dv01 recently announced an expanded reporting partnership with LendingClub, securing its role as loan data agent for all completed CLUB Certificate transactions. Prior to this partnership, dv01 has provided reporting services for USD 2.75 Billion of LendingClub securitizations. As loan data agent, dv01 will receive loan data directly from LendingClub, which it will normalize, validate, and roll up for monthly servicer reporting. The company will also prepare and provide monthly loan tapes; reconcile the monthly remittance report; and provide approved investors access to the data through dv01’s portal, which features a suite of reporting, analytics, and cashflow tools designed specifically for the online lending asset class. “LendingClub’s previous work with dv01 has made it clear that investors appreciate the ability to conduct deep analysis into structured products, both before and after purchase,” said Valerie Kay, Chief Capital Officer of LendingClub. “The unique structure of these CLUB Certificate transactions appealed to a new investor audience, and we’re excited to offer these investors access to dv01’s reporting and analytics portal as part of their introduction to the online lending asset class.”

 

SOURCE FinancialBuzz.com

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