Browsed by
Tag: Fintech

HighRadius Adds New Leader to Accelerate Fintech Adoption for Clients

HighRadius Adds New Leader to Accelerate Fintech Adoption for Clients

HOUSTON–(BUSINESS WIRE)–Oct 9, 2020–

HighRadius, a fintech enterprise Software-as-a-Service (SaaS) company specializing in automating the order-to-cash and treasury management processes, today announced the addition of Jared Lane as Vice President, Digital Transformation. Jared and his team, in collaboration with partners, will accelerate the adoption of HighRadius products to transform finance processes to deliver quantifiable business results.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201009005093/en/

HighRadius adds New Leader to Accelerate Fintech Adoption for Clients (Photo: Business Wire)

Jared brings over 20 years of experience in helping the C-suite at Global 2000 companies modernize their back-office tech stack. Prior to joining HighRadius, Jared was Chief of Staff, Worldwide Sales for Wolters Kluwer ELM Solutions. Jared holds a bachelor’s degree in Information and Operations Management from Texas A&M University.

“CFOs are fast-tracking their finance digital transformation initiatives in this uncertain economy,” said Sashi Narahari, President and CEO of HighRadius. “I’m thrilled to have Jared join the team to support our 500+ clients to adopt HighRadius technology to drive operational efficiency and insights.”

“I am excited to join the HighRadius team and help to build on the solid foundation developed over the last decade,” Jared said. “HighRadius is perfectly positioned to help its clients transform their business for better customer experience and thrive in the ever-changing business and market conditions.”

About HighRadius Corporation

HighRadius is a Fintech enterprise Software-as-a-Service (SaaS) company that leverages Artificial Intelligence-based Autonomous Systems to help companies automate Accounts Receivable and Treasury processes. The HighRadius® Integrated Receivables platform reduces cycle times in your order-to-cash process through automation of receivables and payments processes across credit, electronic billing and payment processing, cash application, deductions, and collections. HighRadius® Treasury Management Applications help teams achieve touchless cash management, accurate cash forecasting and seamless bank reconciliation. Powered by the Rivana

Read the rest
Ping An Insurance-backed fintech unicorn Lufax files for US stock offering

Ping An Insurance-backed fintech unicorn Lufax files for US stock offering

Lufax Holding, the operator of one of China’s biggest online wealth management platform, filed to go public in the US market, the latest Chinese company to shrug off concerns about worsening relations between the world’s two largest economies.

The Shanghai-based company is backed by China’s biggest insurer Ping An Insurance (Group) and follows in the footsteps of the insurer’s unit OneConnect Financial Technology, which raised US$312 million in its New York Stock Exchange (NYSE) debut in December.

Lufax said it plans to list its American depositary shares on the NYSE under the symbol, LU, it said in a regulatory filing early Thursday.

Get the latest insights and analysis from our Global Impact newsletter on the big stories originating in China.

Lufax did not disclose the size of its offering, using a common place holder figure of US$100 million in its filing with the US Securities and Exchange Commission. But sources have said the IPO could raise between US$2 billion and US$3 billion.

Lufax was valued at US$39.4 billion during its last-known funding round at the end of 2018. It previously considered a Hong Kong listing in 2018, but that never materialised. Details of potential US listing by Cayman Island-registered Lufax first emerged in July.

In Thursday’s filing, Lufax showed it had a net profit of 7.2 billion yuan (US$1.03 billion) for the six months to June 30. It reported a net profit of 7.5 billion yuan a year earlier.

The company said it plans to use the proceeds from the offering for general corporate purposes, including product development, sales and marketing activities and improving its technology infrastructure.

The company stopped facilitating new peer-to-peer loans in August last year. As of June 30, outstanding peer-to-peer loans as a percentage of total client assets had declined to 12.8 per cent.

Goldman Sachs,

Read the rest
Lufax Holdings Looks To Capitalize On Ant Group’s Fintech Interest With An NYSE Listing

Lufax Holdings Looks To Capitalize On Ant Group’s Fintech Interest With An NYSE Listing

Key News

Asian equities were largely higher on light volumes, though the 50 stock Hang Seng Index was off a touch/-0.2% after rising off its intra-day low of -0.9%. The broader Hang Seng Composite gained +0.3% and the 204 Chinese companies listed in Hong Kong within the MSCI
MSCI
China All Shares Index gained +0.35%. Volumes have been anemic during the Chinese holiday, though things should pick up tomorrow as Shanghai & Shenzhen come back online. US-listed Chinese A-share ETFs are anticipating a healthy +3% open for the Mainland market tonight.

There was another quiet night in Hong Kong as the US focuses on the election and stimulus. Hong Kong volume leaders were Alibaba
BABA
Hong Kong, which gained +0.49%, Tencent, which was unchanged, Xiaomi, which fell -3.92%, Meituan Dianping, which fell -0.37%, BYD, which rose +5.94%, Sunny Optical, which rose +2.87% on the coming Apple
AAPL
release, Ping An Insurance, which gained +0.38% after Lufax Holdings, backed by Ping An Insurance, filed for a US listing, and JD.com Hong Kong, which was off a James Bond -0.07%. Macau gaming stocks were off as the Golden Week was less than Golden, based on weak visitor data due to coronavirus travel restrictions. Things should pick up tonight with Stock Connect, Shanghai, and Shenzhen reopening, though I predict volumes will really pick up next week. 

Mid-day yesterday, we had the announcement that the US would target Chinese mobile

Read the rest
Yalla Fintech 2020 hackathon opens to applicants to boost financial inclusion

Yalla Fintech 2020 hackathon opens to applicants to boost financial inclusion

UAE-based FinTech Galaxy is accepting applications for its virtual hackathon that will focus on developing tools that can expand financial inclusion for businesses and individuals in the Arab world.

The Yalla FinTech hackathon is a partnership between FinTech Galaxy and German development agency Deutsche Gesellschaft für Internationale Zusammenarbeit to boost financial inclusion. Start-ups and tech firms can now submit their proposals to address technical challenges in digital lending, financial awareness and cybersecurity.

“We are home-grown with a track record and a global FinTech network that enables us to bring together start-ups, progressive banks and ecosystem partners from the Arab markets. In doing so, we harness a common goal, embracing FinTech innovations for better livelihoods,” Mirna Sleiman, founder and chief executive of FinTech Galaxy, said of the hackathon’s launch.

In the Middle East and North Africa, two out of three people do not have a bank account, according to the World Bank.

Financial inclusion is critical for the region’s competitiveness, for employment creation and for raising incomes and reducing poverty, according to the lender.

Businesses need access to financial services in order to invest, innovate and manage cash flow and costs, while households benefit from financial inclusion as a safe place to save and access loans, according to the World Bank.

The latest wave of technology such as artificial intelligence, big data, cloud services and distributed ledgers is affecting financial services at an unprecedented pace. The digital transformation in finance can stimulate competition and product variety for the benefit of communities and businesses in the region, according to FinTech Galaxy, which facilitates the development of applications, products, and services on its online platform, FinX22.

The digital platform enables the screening, interaction and collaboration among innovators, financial institutions, and regulators, allowing them to crowdsource and prototype FinTech solutions prospectively in Fintech Galaxy’s

Read the rest
Kenya Bankers Association and Huawei Ink Partnership Agreement to Promote Tech-Driven Financial Inclusion, Fintech Capacity Building – PC Tech Magazine

Kenya Bankers Association and Huawei Ink Partnership Agreement to Promote Tech-Driven Financial Inclusion, Fintech Capacity Building – PC Tech Magazine

The Kenya Bankers Association (KBA) has signed a collaboration agreement with tech-firm Huawei-Kenya that seeks to deepen financial inclusion in the banking sector through further deployment of technology and building fintech capacity.

In the partnership, KBA will work closely with Huawei-Kenya to spearhead industrywide capacity building initiatives aimed at promoting knowledge on financial technology innovation, digital transformation, and other ICT-related programmes in the banking industry.

Under the partnership, KBA and Huawei will also aim to promote financial inclusion activities in line with the KBA Strategic Plan for the period 2020 to 2023. Launched last year, the Plan seeks to promote access to affordable financial services through tech-aided operational efficiency.

Speaking during the signing of the agreement, KBA Chief Executive Officer Dr. Habil Olaka said the cooperation would go a long way in promoting the delivery of efficient banking services in Kenya through knowledge-sharing programmes that will be organized by the two institutions.

“This partnership will further focus on research and knowledge-sharing activities, which will supplement the research initiatives that continue to be spearheaded by the Association’s Centre for Research Financial on Markets and Policy®. In this regard, the collaboration will certainly augment KBA’s and member banks’ knowledge base in engagements with diverse stakeholders from a fact-based perspective,’’ Dr. Olaka added.

Advertisement

The partnership comes on the heels of the the 2020 edition of the Huawei-KBA Online FSI Summit slated for 30th September this Year. The forum is among the initiatives Huawei and KBA are jointly  implementing to promote the delivery of efficient banking services through technology under the cooperation agreement.

Huawei-Kenya Chief Executive Officer Mr. Will Meng welcomed the partnership, saying technology will remain a core driver towards enhancing convenient access to financial services in light of disruptive occurrences such as the ongoing Coronavirus Disease pandemic.

‘’The theme of the

Read the rest