Leading global AI-powered credit decision platform provider, Scienaptic AI announced that Meridian Trust Federal Credit Union has selected its AI-powered platform, enabling the credit union to augment its underwriting capabilities to make faster credit decisions, increase loan approvals and support the financial goals of its members.

Founded in 1954, Meridian Trust is a full-service credit union, offering members a full suite of financial products and services. With locations in Wyoming, Colorado and Nebraska, the credit union is committed to making life more convenient for its members and enhancing their experiences. By employing Scienaptic’s platform, Meridian Trust FCU is positioned to offer enhanced, automated credit decisions to help increase credit availability for its members.

“At Meridian Trust, we aim to provide our members and community with the best personal service, the highest quality financial products, and the best overall value for a lifetime,” said Michael Barnhardt Jr., Chief Lending Officer at Meridian Trust Federal Credit Union. “Scienaptic’s AI-driven credit decisioning platform will help ensure that our credit union has access to industry-leading underwriting capabilities to approve more loans for our members and further enhance their financial wellbeing.”

"We are pleased to be working with Meridian Trust to help support and strengthen the financing needs of its members” said Pankaj Jain, President, Scienaptic. “Scienaptic’s platform will help Meridian Trust to grow their client base and to support the financial goals of its members by making faster credit decisions while minimizing risk.”

TRON founder Justin Sun attended the Singapore FinTech Festival 2021 (SFF) where he delivered a keynote speech on Web 3.0. This event was also live-streamed globally on the official platform.

Organized by the Monetary Authority of Singapore, the Singapore FinTech Festival (SFF) is the world's largest gathering for the FinTech community. Themed on "Web 3.0", SFF 2021 took place from November 8 to 12 as a hybrid digital and physical event. In addition to TRON, industry giants such as AMTD Group, Microsoft, Ant Group, Tencent, Mastercard, Temasek, Bank of China, China Construction Bank, Industrial and Commercial Bank of China, HSBC, and PayPal also attended SFF 2021.

Justin Sun mentioned in his keynote speech that TRON is always committed to the growth of Web 3.0, which boasts higher efficiency thanks to its nature as a distributed infrastructure. Compared with Swift, the TRON network is permissionless and supports instant transfers of USDC, USDT, and TUSD, etc. at minimal costs.

Smart contracts are the name of the game in Web 3.0 since they open up possibilities for developers, allowing almost everyone to build DApps on TRON and covering nearly all industries including finance.

According to Justin Sun, Web 3.0 is also applied to fields including GameFi. There is not much value embedded in the existing games in the market since they are not backed by assets. GameFi, however, allows players to earn monetary returns while playing games. In WIN NFT HORSE, a game jointly launched by TRON, APENFT Foundation, and WINk, players can earn tokens by owning NFTs. All the scores players earn will be kept on the chain and can be reused and verified on any other chains, hence safeguarding assets and data.

Justin also believes that Web 3.0, as an infrastructure, will help connect 7 billion people and that "BTTC is a good case in point".  

BTTC (BitTorrent Chain) is a layer 2 cross-chain scaling solution launched by TRON on October 30 with its Tesnet enabled. In his open letter to the community, Justin Sun announced his decision to earmark $1 billion to spur the migration of projects from Ethereum onto BTTC. With BTTC, TRON will further cement its dominant position in the blockchain space. Since its inception in 2018, TRON has evolved into one of the world's top three public chains in just a few years under Justin's leadership. Today, TRON's public chain boasts upwards of 60 million users, over 2.5 billion transactions, and an all-encompassing ecosystem that covers DeFi, NFT, stablecoins, and distributed storage protocols.

TRON is one of the blockchain companies invited to the Singapore FinTech Festival 2021 (SFF), and Justin garnered much attention at the event with his insights on Web 3.0 and the solution he proposed to digital finance, BTTC.

 Logiq, Inc., a global provider of award-winning consumer acquisition solutions, has been invited to present at the ROTH 10th Annual Technology Event being held virtually on November 17-18.

Logiq president, Brent Suen, scheduled to present and participate in one-on-one meetings with institutional analysts and investors at the conference.

Management will discuss the company’s recently announced plan to separate AppLogiq™ and DataLogiq™ into two publicly traded companies to capitalize on their respective growth opportunities in the rapidly evolving global e-commerce and fintech landscape.

The company earlier reported preliminary results with revenue exceeding $7.7 million, up 10% from the year-ago quarter and gross margins nearly doubling to 29.0%. The company plans to issue its full third quarter 2021 results and host a conference call to discuss the quarter on November 15, 2021.

To schedule a one-on-one meeting with Logiq, you may submit your request online via the link provided upon registration. For more information about the event or questions about registration, please contact your Roth representative.

For questions about Logiq, contact Ron Both or Justin Lumley of CMA at (949) 432-7557 or submit your request here.

Initiative Combines CloudMargin Technology with Margin Tonic Regulatory Consultancy Services to Help Firms Address UMR Compliance

CloudMargin, creator of the world’s first and only collateral and margin management solution native to the cloud, and Margin Tonic, an industry-leading service provider specialising in the collateral and post-trade domains, announced today that the two firms have partnered to launch a global Average Aggregated Notional Amount (AANA) calculation service for the latter phases of the Uncleared Margin Rules (UMR), combining CloudMargin’s award-winning technology with Margin Tonic’s expertise-led regulatory consultancy services.

The joint subscription service automates the AANA calculation for clients on the CloudMargin platform, leveraging Margin Tonic’s expertise in the multi-jurisdictional Uncleared Margin Rules and helping clients to fine-tune fit-for-purpose trading and compliance strategies.

Firms brought into scope for Phase 5 of UMR – based on their AANA calculations for March, April and May of 2021 – were required to begin exchanging Initial Margin (IM) from 1 September for trading of non-cleared over-the-counter (OTC) derivatives. A much larger group of mainly buy-side firms, estimated at almost 800 firms by the International Swaps and Derivatives Association (ISDA), is expected to fall into scope for Phase 6, which takes effect on 1 September 2022. This follows AANA calculations conducted in March through May of the same year for most jurisdictions.

Importantly, even for those firms under the threshold ($8 billion in the U.S. or €8 billion in the European Union) and not in scope for Phase 6, there is a regulatory need to perform ongoing year-on-year AANA calculations to assess if firms will come into scope any year after September 2022.

AANA calculation rules can be complex, with product scope and calculation methods varying by jurisdiction. Firms also often encounter AANA challenges such as consolidation of data from multiple trade sources, lack of AANA regulatory guidance and unclear treatment of funds, including multi-manager funds.

In addition, trading volumes and products will also change over time, meaning that AANA calculations should be performed regularly and on an ongoing basis. A proactive monitoring approach ensures firms will have full readiness in place, with no late surprises on their AANA results and rushed compliance solutions.

Over recent years, both CloudMargin and Margin Tonic have been central to helping a wide range of firms navigate UMR successfully, including a large number of Phase 5 firms. The joint AANA service further strengthens the two companies’ ongoing collaboration on multiple fronts, including an Initial Margin ‘Health Check’ service and other initiatives.

Simon Millington, of CloudMargin said: “Calculating AANA is the first step toward determining if an institution is in scope for UMR. Many firms don’t realize that they’ll need to maintain these AANA calculations on an ongoing basis, whether or not they fall into scope for Phase 6. This service offers clients a heightened level of confidence and comfort that they have industry-leading expertise analysing the various nuances of regulatory jurisdictions and complex factors, combined with a robust technology solution providing accurate AANA calculations they can track over time with automated reporting. They can also choose to work with us to automate and optimise their entire collateral workflow as desired, if and when they exceed the threshold. We’re delighted to extend our partnership with Margin Tonic with this important initiative.”

Chris Watts, Co-Founder of Margin Tonic, said: “We have performed and advised on AANA calculations across multiple UMR phases, for a variety of different firms and set-ups. Having early and ongoing clarity on AANA status ensures that firms can prepare for compliance with confidence, for the heavy front-to-back changes. Too often, we have seen firms perform AANA calculations too late, or not regularly enough, causing a rush to compliance with unfit solutions and high compliance risk, with the potential to impact their ability to trade. By introducing the joint AANA service with our partners at CloudMargin, we provide an AANA one-stop-shop, combining our industry-leading advice with their best-in-class technology. In turn, we will remove AANA burden for our clients, allowing them to focus on key decisions, either for compliance readiness or for trading adjustments to remain out of scope entirely.”

More information about the new AANA service can be found here.

CloudMargin recently announced that in order to facilitate clients’ preparedness for UMR in Phases 5 and 6, it is now connected to nearly 60 custodians globally for cash, securities and third-party SWIFT settlement, in addition to its long-established SWIFT connectivity to the four major triparty agents.

CryptoXpress today announced the upcoming launch of its Binance Smart Chain BEP-20 $XPRESS Utility Token on the TrustPad, VentUp and ProStarter IDO launchpads followed by listings on the Gate.io CEX and PancakeSwap DEX.  The IDO launches of the $XPRESS token are scheduled to occur on the November 12th, followed by an IEO launch on the Gate.io CEX on November 15th.  On the following day, November 16th, the token will be listed on the Gate.io CEX and the PancakeSwap DEX for public trading for the first time.

"We are thrilled to announce the upcoming launch of the $XPRESS token, as the culmination of the dedicated hard work of the CryptoXpress team and its partners", said Sherwin Torres, Co-founder and Chief Product Officer of CryptoXpress.  "The $XPRESS token will be the fuel that accelerates the adoption of the CryptoXpress platform and usher in a brighter future for the FinTech sector."

The $XPRESS utility token underpins the entire CryptoXpress platform, where investors will be able to avail of discounts and features by using the $XPRESS token when performing transactions within the CX mobile iOS and Android applications.  CryptoXpress will provide investors further incentives to invest in its $XPRESS tokens through liquidity pool farming and staking rewards which will be announced in the upcoming weeks. The $XPRESS token vesting schedules have been designed through the advice of industry-leading organisations and advisors to ensure investor ROI, price stability, and token liquidity are maintained based on industry best practices. 

CryptoXpress has announced partnerships with Binance, Polygon and industry-leading investors and partners, with many large partnerships yet to be announced in the weeks leading up to and after the token launch. 

For further information about CryptoXpress and the $XPRESS token launch, visit the company website at www.cryptoxpress.com

Susannah Streeter, senior investment and markets analyst, Hargreaves Lansdown

‘’Bitcoin is bouncing higher again, close to all-time highs fuelled by expectations that the era of cheap money looks set to hang around for longer, while inflation is expected to keep ticking up. It jumped by more than 7% over the last 24 hours, heading above $66,300.

The recent surge in the crypto asset partly seems to have been caused by investors piling in, seeing it as a hedge against inflation. Some appear to have been enticed by the argument that the huge monetary stimulus programmes unleashed by central bank is fuelling inflation which will see the value of money decrease over time, whereas Bitcoin has a fixed limit on the number of coins which can be created.

It’s a highly risky strategy given just how volatile the crypto currency is, amid other pressures on its valuation like clampdowns by authorities and even comments on social media. As Bitcoin increases in value, mining of the crypto asset also ramps up, which is still hugely energy intensive, despite some moves to power more proof of work using renewables, and it’s likely to attract more adverse headlines especially given the focus on soaring emissions during COP26.

The US central bank, the Federal Reserve has also started gently reining in its bond purchase programme, and could well tighten more sharply in the months to come, potentially triggering a mini sell off, similar to how the financial markets would react if the drug of cheap money is withdrawn too quickly.

The perturbations at work in the crypto stratosphere, given the gyrations of coins and tokens over recent months, means investing in Bitcoin is not for the faint hearted or for those with no money to lose.

What is particularly worrying is that many investors get caught up the fear of missing out on rapid price gains and have borrowed money to invest in highly risky strategies. The UK financial watchdog has highlighted that 14% of UK investors in crypto assets have got into debt to buy in. This fresh rise in the coin, risks taking more vulnerable consumers for a rollercoaster ride.’’

• Rob is a highly experienced banking technology expert and a leading advocate for consumer-centric innovation harnessing the power of the Consumer Data Right (CDR).

• TrueLayer’s team continues to expand in Australia and New Zealand across product, engineering, operations, commercial and marketing functions.

Sydney, Australia. TrueLayer, the global open banking pioneer, today announces the appointment of Rob Hale as Head of Banking in Australia.

An expert in banking technology and strategy, with extensive experience in Australia and overseas, Rob is a leading advocate, innovator and collaborator in the open finance movement in Australia, harnessing the power of the CDR.

He joins TrueLayer from Regional Australia Bank (RAB) where he was Chief Digital Officer and prior to that Chief Information Officer. Under Rob’s guidance, Regional Australia Bank was the first Australian bank to achieve the status of both Data Holder and unrestricted Accredited Data Recipient under the CDR.

“It’s been great to be involved at the genesis of CDR and help a bank to seize the opportunity in open banking. That is why I'm particularly excited to be joining TrueLayer as we look to the next horizon of the CDR - action initiation and payments,” Rob said.

“TrueLayer is bringing its global open banking expertise into Australia to help international and local clients access CDR data in the right way. I’ll be devoting my time to supporting banks, fintech firms and others to harness the power of open data to deliver new services for Australian consumers and businesses,” he continued. 

TrueLayer’s CEO of Australia & New Zealand, Brenton Charnley, has warmly welcomed Rob to the team, saying: “We’ve built a solid foundation in Australia and launched our global Open Banking Platform to deliver amazing open banking-powered customer experiences. We’re delighted that someone of Rob’s calibre has chosen to join us as Head of Banking. He is a leading advocate for the CDR and the critical role it is playing in transforming Australian financial services. His knowledge of what it takes for banks to deliver open banking will be invaluable. There is so much opportunity to open up the whole of finance, working with banks and non-banks to deliver innovation in banking, lending and payments.”

In September, TrueLayer was approved by the Australian Competition and Consumer Commission (ACCC) as an unrestricted Accredited Data Recipient under the CDR and launched its global Open Banking Platform in Australia. The TrueLayer Open Banking Platform is backed by proven, market-leading data and payments APIs that currently process more than half of all open banking traffic in the UK, Ireland and Spain. 

·         Deals reflect Blackfinch Ventures’ commitment to innovative tech companies 

·         New investments include Payaca, Illuma, WatchMyCompetitor and Culture Shift 

Blackfinch Ventures has completed on four new investment deals totalling £3.27million in a move which demonstrates its ongoing commitment to facilitating the growth of innovative technology and tech-enabled companies.  

Business intelligence platform WatchMyCompetitor received a total of £1.0m, and Culture Shift, an online platform that is designed to identify and prevent harassment and bullying in the workplace, received £775k. 

In addition, llluma Technology, a contextual advertising company which uses AI to learn from online browsing behaviour during live campaigns to reach target audiences, has received £1.1m, and job management software company Payaca received £330k. 

This is the second cohort of investments for Blackfinch Ventures in 2021, which completed on 17 investment deals totalling in excess of GBP11 million ahead of the tax-year-end deadline in April. These included several follow-on investments, such as in commercial real estate valuation software firm Edozo. 

Commenting on the latest investment update Dr Reuben Wilcock, ventures director at Blackfinch, said: “Blackfinch Ventures targets high-growth opportunities, as well as supporting start-ups, and early stage and growth stage businesses with technological potential.  

“The focus is on disruptive businesses, offering products that address real world needs, with the capability to make an impact in global markets.  

“This latest round of investments demonstrates our ongoing commitment to investing in businesses that deliver a solid return on investment, and we are delighted to now have the opportunity to work alongside these innovative and ambitious companies as they take advantage of the investment funds to fuel further growth and success.” 

Earlier this year Blackfinch revealed it had raised a total of GBP10.6 million through its EIS Ventures Portfolios in the tax year ending April 2021, which has been invested in innovative start-up and early-stage technology companies across the UK in a variety of industry sectors. 

A further GBP5.8 million was raised through its Spring Venture Capital Trust (VCT) which invests primarily in companies at the start of their growth journey.  

The EIS portfolio now includes businesses such as Candidate.ID, Staffcircle and Kokoon, as well as digital vendor management platform Brooklyn Vendor Assurance, global client engagement platform Clientshare, embedded integration platform Cyclr, real-time market research company OnePulse, and hyper-realistic text-to-speech platform LSTN. 

The latest round of investments is indicative of the wider Blackfinch Group’s commitment to helping to create a more sustainable world through its own focus on environment, social and governance factors. 

Dr Reuben Wilcock added: “The growing Ventures portfolio is reflective not only of Blackfinch’s commitment to investing in innovative technology driven companies that reflect our own environment, social and governance (ESG) values, but also the value that those businesses see in having us as their investment partner and the role that we can play in furthering their growth ambitions.” 

Investment summary: 

New Investments: 

·                     Illuma Technology – Total investment from Blackfinch Ventures GBP 1.1 million; 

·                     Payaca – Total investment from Blackfinch Ventures GBP 330k; 

·                     Culture Shift – Total investment from Blackfinch Ventures GBP 775k; 

·                     WatchMyCompetitor – Total investment from Blackfinch Ventures GBP 1.0m. 

·                     Total value – GBP 3.27million