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Brian Brooks, Former Chief Banking Regulator, Joins Spring Labs

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Brian Brooks, the former acting head of the U.S. Office of the Comptroller of the Currency (OCC), has joined Spring Labs, a leading financial technology firm transforming the exchange of sensitive data, as its first independent director. His appointment to Spring Labs’ Board of Directors follows Mr. Brooks’ high-impact tenure at the OCC, the national banking regulator that oversees over 1,200 banks, including JPMorgan Chase and Wells Fargo, that collectively represent 70% of the US banking system’s assets.

“Spring Labs is transforming financial data exchange in a way that is better for consumers,” Brian Brooks said in a statement. “I launched my financial inclusion initiative Project REACH while at the OCC, and I look forward to working with the Spring Labs team to bring the benefits of financial services to more Americans, while reducing cost and increasing security for everyone.”

By fundamentally altering the way consumer financial data is stored and shared, Spring Labs technology offers a unique combination of transparency and privacy that strengthens oversight while also unlocking new data sources that can be used to remove barriers that currently keep as many as 55 million Americans from fully utilizing modern financial services–or from being able to access them at all.

“Brian has a remarkable perspective on where the industry is headed, and his experience has given him a unique lens on transformative technologies and how they are being adopted,” said Adam Jiwan, co-founder of Spring Labs. “We are thrilled that he shares our vision as we build the secure rails for data exchange.”

The Spring Labs’ network technology is built on modern cryptography, which allows the visibility of information shared by network participants to be strictly controlled, and a permissioned blockchain, which provides a time-stamped, immutable record and audit trail to all network participants. This combination of data opacity and transaction transparency is a key to resolving the age-old problem of information sharing among competitors, as well as providing regulatory transparency without inhibiting competition.

In addition to financial inclusion, Mr. Brooks sees the Spring Labs platform as key “middleware” that builds upon another legacy of his time at the OCC: integrating digital assets, such as cryptocurrencies, into the traditional financial system to allow the new technology to securely scale within federal regulatory frameworks, including KYC/AML and compliance laws.

Spring Labs has raised over $38m and built an industry-leading partnership with over 50 major financial institutions, including GM Financial, SoFi, and Avant. In December, the company announced the launch of their network among PACE energy loan lenders. The technology has been credited with catching fraud at a rate of 1% of originations, saving an estimated 10% of annual industry revenue.

Spring Labs counts numerous industry veterans as advisors, including Gary Cohn, former President of Goldman, Sachs & Co, Bobby Mehta, former CEO of TransUnion, Nigel Morris, co-founder of Capital One, and Sheila Bair, former Chair of the FDIC.

Prior to his tenure at the OCC, Mr. Brooks was chief legal officer at Coinbase Global and Executive Vice President, General Counsel, and Corporate Secretary of Fannie Mae. Before those positions, Mr. Brooks was vice chairman at OneWest Bank and managing partner at global law firm O’Melveny & Myers LLP. Mr. Brooks holds a bachelor’s degree from Harvard University in government and a law degree from the University of Chicago.

Blockchain

Teletubbies Digital Companions to Launch on the Tezos Blockchain

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MetaPals, an AI digital companion platform, is partnering with WildBrain’s beloved Teletubbies to bring together cherished childhood memories and the innovative digital era with the launch of the Teletubbies AI digital companions on 20 April, 2024.
As Teletubbies commemorates its 27th anniversary on 31 March, the collaboration marks the beginning of an exciting array of renowned IPs joining the ‘MetaPals Multiverse’ in 2024. Through the use of AI and blockchain technology powered by Tezos, much loved Tinky Winky, Dipsy, Laa-Laa, Po, and even Noo-Noo have become personalized, evolving digital companions within the MetaPals browser extension game engine.

The Teletubbies characters integrate with users’ daily browsing experience that accompanies users across the web, offering both playful interactions and practical assistance. This technology not only brings these fun characters to life in new, interactive ways, but also helps to enhance the mental well-being of users by fostering a sense of companionship.

Each Teletubbies companion within the MetaPals Multiverse will exhibit unique personality traits, offering users a diverse and dynamic experience. With personalities distributed across 5000+ Teletubby companions along a spectrum, users are guaranteed a one-of-a-kind experience, ensuring enjoyment for all and opportunities to foster new connections with this nostalgic brand.

Max Giammario, CEO of MetaPals, said: “Through this collaboration we’re not just revisiting Teletubbyland, we’re reinventing it for the digital age. By weaving in AI and blockchain, we enable the Teletubbies characters to evolve, interact, and form unique bonds with users, embodying our vision of dynamic digital companionship. With a bit of ‘MetaPals magic’, the Teletubbies are exploring beyond the hills and far away, ready to play, in ways we’ve never imagined.”

Melissa Goodrich, Director, Franchise Strategy at WildBrain, said: “We’re excited to see our colorful quartet come to life in new ways through this unique digital experience for fans. As we celebrate 27 years of the perennially popular Teletubbies franchise, this latest collaboration encapsulates the essence of childhood nostalgia while embracing the limitless possibilities of the digital age.”
Jason Lim, TZ Apac Games Adoption Team for the Tezos Ecosystem, said: “MetaPals will be pioneering the convergence of iconic IPs such as Teletubbies with the limitless possibilities of the Tezos blockchain. I can’t wait to see the magic they are brewing up next.”

The post Teletubbies Digital Companions to Launch on the Tezos Blockchain appeared first on HIPTHER Alerts.

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Blockchain

Alarum Announces Exciting Events Lineup and Welcomes Esteemed Advisor to NetNut’s Advisory Board

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Blockchain

RevoluGROUP Canada Inc. Announces White Label Partnership with MONECO France

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