ProjectPay removes builder risk on construction projects for project financiers and property developers

Building and construction payment platform ProjectPay, has launched a solution to remove risk, while simplifying and streamlining payments for property developers.

Built on proprietary technology, it’s the first end-to-end secure payment solution built specifically for property developers employing construction businesses, to protect their investor returns on projects.

The system is now live having received a £100,000 Innovate UK grant and completed trials of its payment system on two projects in London worth £20 million and £7 million.

The SaaS platform enables all levels of the supply chain to be paid at the same time, thereby removing contractors’ insolvency risk - speeding up payments to contractors and tradespeople and improving cashflow.

It uses smart tech and a proprietary cascading trust system to protect project funds for work completed by subcontractors and suppliers, linking cascading project accounts with the payment request, approval and payment process.

The platform was founded by CEO Louise Stewart, the former chair of an Australian Subcontractors Association, with the aim to minimise the occurrence of missed or delayed payments to tradesmen and subcontractors in construction project supply chains and address the risk of misappropriation of funds or building insolvency. 

“Property developers often engage with builders that under-price the project to win it. This often results in builder collapse and builders can also run into financial trouble on another project which collapses”, explains Ms Stewart. “This situation can destroy the property developer’s investor returns, and insolvency practitioners often move in to take possession of the site, laying claim to project funds. ProjectPay prevents this from happening by eliminating that very high risk of contractor collapse.”

Property developers need to make profits, of course, but the current structure of the sector seems to be based on ruthlessly pursuing profits at any cost.  It is often the small business contractors and subcontractors employed to deliver the projects that are left chasing late payments and who are in many cases out of pocket.”

The Innovate UK fund was granted to ProjectPay as part of the British government’s sustainable economic recovery plan and the need to transform the payments system for the construction sector, to ensure swift payments from property developers to small businesses and contractors. The government has also advocated the transformation of digital payments and the use of project accounts in its Construction Playbook plan.

Project Bank Accounts have previously faced industry resistance and slow uptake due to their adminstration costs, but the platform uses a tech approach to remove admin costs and enables project financiers to keep track of project capital provided and ensure funds are being used appropriately, so that projects can be completed.

“In the UK and internationally, governments  have recognised the value of using project accounts because they work, adds Ms Stewart. If project funds are misappropriated or lost that’s considered an unacceptable use of taxpayers' funds when delivering public sector projects.  We need to apply the same standard to property developers in the private sector, who need to ensure they are protecting their investors’ returns. It’s vital to ensure that contractors on the project are getting paid, because they are intrinsically linked to the ability to successfully deliver projects.”

ProjectPay works through a cascading project account system, with payments made to head contractors and their subcontractors engaged on a project from separate project accounts. By removing the non-payment risk, the platform can fund project accounts against contracts for works. It is currently the world’s only ‘buy now, pay later’ interest-free payment platform for building and construction projects.

With offices in Soho, London and Perth, Western Australia, the business is now looking to scale up rapidly in the UK with ‘best fit’ capital partners and VCs within the start-up community.

Ledgermatic, the treasury, finance and custody solution, announces it is now live and compatible for the Algorand ecosystem. Businesses that use the Algorand network, hold Algo’s, and use native ASA tokens can leverage Ledgermatic as their custodian and back-office finance solution with a first set of clients currently active on the system. 

Ledgermatic’s platform ushers in new features for the market to orchestrate a variety of finance functions previously unavailable to the industry. Clients can view their global digital asset positions and flows by geography, asset and business unit, allowing them to manage liquidity and exposure in real-time. Customers can also recreate their corporate structure and assign a variety of account types and third parties to the individual entities; segregated, pooled, and virtual accounts can manage a variety of trading, investment and back office activity. Users can also link their digital asset activity to their general, sub-ledger and Chart of Accounts (CoA). Granular financial controls for segregation of duties, veto rights and audit views vastly reduces the opportunity that Ledgermatic users are exposed to fraud, waste and abuse. 

This means businesses can now reconcile and account for their digital asset operations centrally instead of managing their business in silos. 

The integrated Ledgermatic custody service is in use for the growing needs of modern digital asset businesses, where a segregated and secure service is needed for treasury holdings, third party escrow and collateral, short-term holdings on excess revenues and long term, “buy and hold” investment strategies. 

Ledgermatic is available to token holders, Algorand-built platforms, investment funds and exchanges and is working to make Algorand staking available on its platform imminently. IBMR, the project behind ARCC, one of Algorand’s largest token holders, uses Ledgermatic as their custodian. 

Sinjin Jung, Managing Director of IBMR commented: “We believe Ledgermatic is the best suited solution for our needs. It couples a highly sophisticated and secure custody service that is embedded into a treasury system so we can manage our holdings from a single portal. For diverse crypto operations, it's a necessity for transparency, audit and administration.”

Ledgermatic CEO Luke Sully commented: “The Algorand ecosystem is a vibrant community of really impressive and focused projects. We recognized the growth in these projects and wanted Algorand to feature amongst our first set of protocols we work with. With Ledgermatic we enable Algorand activity to drive overall financial growth and convert back offices into a dynamic, secure and hyper-connected function.” 

W. Sean Ford, COO of Algorand said: "We are thrilled that Ledgermatic recognized the robust ecosystem developing on the Algorand blockchain, and have prioritized making their treasury and custody tools available to the accelerating number of individuals and organizations launching assets on Algorand. With compatibility across the ecosystem, digital asset businesses building on Algorand can now seamlessly tap into Ledgermatic's offerings.”

Innovative Payments Bank named as a finalist in two categories

www.bankingcircle.com

Banking Circle, the tech-led, cloud-based Payments Bank, has been shortlisted in the Best International Payments, Remittance or use of FX and Best Back Office Solution categories of the 2021 Emerging Payments Awards. The awards saw 50% more submissions this year, with hundreds of payment industry influencers from 30 countries competing for the 20 prestigious awards.

An independent panel of more than 60 judges from all over the world assessed the entries and were impressed with the quality of innovative payment solutions developed. Taking advantage of easing COVID-19 restrictions, winners will be announced at a glittering awards ceremony at JW Marriott Grosvenor House London, on 6th October 2021.

“The Emerging Payments Awards are extremely well respected in the industry and a win is highly sought after,” commented Anders la Cour, co-founder and Chief Executive Officer of Banking Circle.

“Banking Circle has been nominated for multiple Emerging Payments Awards each year since the bank launched as a cross border payment provider in 2016. We have been delighted to win seven times, including winning the Best Back Office Solution and Best International Payments, Remittance or use of FX categories for which we are nominated again this year. The industry has been inspirational in the way it has fast-tracked digital innovation in the past 18 months, so it is an even greater honour to be shortlisted this year.”

Banking Circle was launched to help facilitate faster, lower cost and more accessible cross border payments for businesses by doing the heavy-lifting for our customers and allowing them to focus on delivering the best services and building customer relationships. As such, the two award categories for which Banking Circle is shortlisted recognise the bank’s core offering and the mission at the centre of all it does.

Anders la Cour continued: “This double shortlisting is a testament to the hard work, dedication and innovative design and engineering of our entire team. Everyone at Banking Circle has risen to the challenge of growing Banking Circle during a worldwide pandemic and exceeded all expectations.

“Since the start of COVID-19 we have doubled our number of employees and doubled our client base. In 2020 we processed 6% of European B2C eCommerce flow and processed EUR 155billion of payments volume. We look set to increase that in 2021, as we are on target to reach EUR 250billion run-rate annual payment volumes and 100million annual bank transfers by the end of the year.”

Law firm calls for ICO investigation in potential data breaches

The Financial Conduct Authority (FCA), the regulatory watchdog for financial services firms in the UK, has misplaced a total of 323 electronic devices estimated to be worth £310,600 over the last three years, according to official figures. The FCA, which operates independently from the UK government, is financed by charging fees to its members, and last November issued a warning to businesses to ‘be responsible when handling client data’.

Details of the extent of device losses was obtained by niche litigation practice Griffin Law using the Freedom of Information (FOI) Act. The FOI revealed that over the three most recent financial years (FY 18/19, 19/21 and 20/21) hundreds of laptops, tablets, desktops and mobile phones were reported as lost or stolen by FCA staffers.

In the most recent financial year, overall lost devices surged by 369 per cent, with 197 devices being reported missing worth an estimated £193,400. This compares to losses of 42 devices in 2020 worth around £41,500 and 84 in 2019 worth an estimated £75,700.

Tablet computers topped the lost devices list, with 201 lost and 14 stolen across the three financial years, worth an estimated £215,000 in total. A staggering 123 of these devices were reported as lost or stolen in 2021.

Next was laptops, with 88 going missed over the combined period at a total cost of £88,000 – 68 of these incidents occurred in 2021.

Cyber expert Edward Blake, Area Vice President EMEA, Absolute Software comments:

“Managing a large, distributed workforce is no easy task, particularly in the midst of a pandemic, and keeping tabs on valuable devices like laptops is growing increasingly difficult.

“If one of these lost devices ends up in the wrong hands, the FCA could be facing consequences far more severe than the cost to replace them. For example, sophisticated cyber criminals can steal the data contained on these devices, access more businesses files, or intercept emails between colleagues, for the purpose of data theft, monetary gain, high-profile scams, or ransomware.

“Therefore, it is more critical than ever to have a permanent digital connection to every endpoint, as well as the ability to lock, freeze or wipe the device if it is at risk of being compromised.”

Donal Blaney, Founder, Griffin Law said:

“The Information Commissioner needs to investigate the FCA over the loss of sensitive data on these laptops, phones and tablets. There can be no excuse for such carelessness by FCA staff with such expensive gadgets paid for by hard-working taxpayers”.

London-based cryptocurrency trading platform CoinBurp will enable custodial NFT trading with fiat via their blockchain-agnostic marketplace.

CoinBurp, the cryptocurrency platform based in the United Kingdom is announcing today the successful raise of over $6m in private capital.

Founded in 2018 and ranked as the number one trading platform in the United Kingdom according to TrustPilot, the new capital will help CoinBurp extend its services within the DeFi and NFT arena in a bid to make DeFi and NFT products easier and more accessible to use for the mainstream native audience.

Incubated by Outlier Ventures and backed by a long list of prominent private investors and venture capital funds, the $6m private raise paves the way for a future dual IDO and IEO later this month having already successfully launched two pre-IDO campaigns via Launchpool and Genesis Shards.

Alongside Moonrock Capital and Alphabit, CoinBurp is being backed by AU21 Capital, NGC Ventures, Morningstar Ventures, Metapurse, Ankr and other investors.

The CoinBurp products are currently in alpha and live on the Android and iOS stores, with the utility and governance $BURP token being launched later this month following the successful audit of its smart contracts.

For the most up-to-date information regarding CoinBurp, the $BURP token and public launch plans, visit https://about.coinburp.com/

Clausematch’s RegTech product beat out all other categories to take the top prize at the live Pitch event 

The endorsement is testament to the growing importance of compliance technology and the disruptive potential AI-enabled solutions. 

Global regulatory technology (RegTech) company, Clausematch, has today announced that they have been awarded the top prize at the Innovate Finance Pitch360. 

Innovate Finance is the independent industry body that represents the global FinTech community in the UK and drives efforts to make the financial services sector more transparent, more sustainable and more inclusive. Described as the most dynamic and energetic pitching competition in FinTech, the Innovate Finance Pitch360 is now running in its fifth year and garnered over 2000 votes across all categories: Digital Assets, Enterprise Digital Transformation, Personal Financial Management & Wellness, Payments, RegTech, Capital Markets, WealthTech and Wildcard. 

Founder & CEO at Clausematch, Evgeny Likhoded made a live pitch to the Pitch360 judges and was selected as the overall winner of the competition. The pitch surpassed all judging criteria showcasing how disruptive Clausematch’s RegTech product suite has significant growth potential, addresses a large market, and offers a unique service with innovative underlying technology. Likhoded said during the pitch that Clausematch’s aim was to “simplify compliance for the world.” 

The judges of the live final this year included Philip Garner, Head of Innovation at Lloyds Banking Group; Eleonora Ferrero, Director of Operations at Evolution AI; Zeina Hatem Popovic, MD at Google Payments EMEA; Jay Wilson, Investment Manager at Albion VC; Ashish Aggarwal, Corporate Development at PayPal; and Ian Connatty, Managing Director at British Patient Capital. 

Speaking on today’s announcement, Founder & CEO at Clausematch, Evgeny Likhoded said “Being selected as the top category winner across all financial services categories and solutions is a huge honour for us. We are delighted to receive such recognition for our RegTech platform that enables Clausematch clients to streamline their compliance requirements. Over the past 18 months and the Covid-19 pandemic, the financial and regulated institutions have rapidly increased their appetite for innovative products that boost both collaboration and efficiency. RegTech solutions are increasingly bridging the divide between outdated technology and regulatory processes to alleviate compliance burdens for firms in today’s demanding regulatory and compliance environment.” 

IDnow makes onboarding even easier with automated KYC combined with real-time AML screening and monitoring

IDnow, a leading European Platform-as-a-Service provider for identity verification, introduces automated AML (anti-money laundering) screening to its comprehensive platform. This feature enables a combined screening of users against certain global watchlists to make a risk assessment and to avoid violating various sanctions. The solution is able to screen a person’s identity against PEP (politically exposed person) lists, sanctions lists, global watchlists and adverse media at regular and self-selected time intervals. This allows the IDnow platform to monitor thousands of AML lists concurrently and in real-time.

IDnow integrates this additional step into its platform in order to reduce complexity and to make the KYC (know your customer) flow smoother, quicker and even more secure. The highly automated process spares companies from uploading data for the monitoring as the information was already collected during the identity check. With the option of ongoing monitoring, based on an individually set rhythm, businesses can maintain current risk profiles of their customers and perform the customer due diligence. 

“The new streamlined process accelerates the onboarding flow and offers a better user experience”, says Vikas Seth CPO at IDnow. “The addition of AML screening and monitoring is further expanding the IDnow platform and marks another strategic step on our way to become the leading European platform for all identity needs.”

As a first step, AML screening and monitoring will be offered for IDnow AutoIdent, the automated identity verification solution within IDnow’s platform. Furthermore, it will be offered for all our identification methods in the future. 

Over the past few years, IDnow has expanded its role far beyond offering individual ident procedures and has become the overarching platform for digital identities with several million transactions per year. In 2021, IDnow acquired French identity technology provider ARIADNEXT as well as German identity Trust Management AG. This enables IDnow to expand into new industries and offer its services to a broader customer base in Europe.

• With Temenos Infinity Micro Apps, banks can gain market traction by delivering  seamless experiences at speed and ease and dramatically improving time to value 

• With microapps, Temenos Infinity enables banks to offer human digital banking  experiences tailored to specific customer needs and market segments  

• Temenos Infinity is used by over 650 financial institutions helping them transform  their customer experience and increase digital revenues by up to 5x 

Temenos, the banking software company, brings to  market the next-generation in digital banking with Temenos Infinity Micro Apps. Temenos Infinity Micro Apps can now deliver packaged business capabilities (PBC), for banks to rapidly create tailored digital customer  experiences by adding or removing functionality. This allows for shorter development cycles, targeted  personalized experiences, accelerated innovation and dramatically faster time to market. Temenos Infinity is  the leading digital banking platform used by over 650 financial institutions.  

To find out more listen to ‘Build a human banking Experiences with Infinity Micro Apps’ session at TCF Online 2021.  

Delivered as SaaS or on premise, Temenos Infinity Micro Apps focus on a single use case and encapsulate  its functionality. This makes it much easier to add, remove, and configure the modules that make up Temenos  Infinity, allowing banks to capitalize on the trend towards banking experiences targeted to specific  demographics such as families, students or gig economy workers. 

To increase customer engagement, banks need to modify and improve their mobile apps, and online front  ends constantly. With Temenos Infinity Micro Apps, banks can provide a consistent experience across  channels and hyper-personalize what customers see when visiting their online or mobile channels. A  customer that holds both business and retail accounts, for example, could see everything in one place and  have the power to move between business and retail banking within their app. With Temenos Infinity, banks can test the exact functionality and roll it out very quickly, and launch it to market when they need it.  

Joaquin de Valenzuela Muley, SVP & Global Business Line Director Infinity, said: “Banks understand  that people crave simplicity in banking but the one size fits all approach doesn’t work in digital. With Temenos  Infinity Micro Apps we are transforming the banks’ monolithic frontends into micro frontends. Giving banks the building blocks to create the ideal digital banking experiences at hyper-speed. With Temenos Infinity Micro  Apps banks can target the right experience to the right customers. For example, a family app needs a different  experience from private banking app or one for business owners.” 

Bola Rotibi, Research Direct, CCS Insight, said: “Banks need solutions based on microapps instead of  monolithic structures to make it easier and quicker to create new features and services. Leading providers of  banking software such as Temenos with its Temenos Infinity Micro Apps are well positioned to help banks  evolve their digital strategy by making it easier to pull new capabilities into their existing digital banking  platforms. Such solutions help banks improve business agility through faster, user-friendly and iterative  delivery of updates and new features.” 

With Temenos Infinity Micro Apps architecture, banks can: 

• Build compelling customer applications: Banks can build their own tailored digital experiences  from ‘the ground up’ using Temenos Infinity Micro Apps as building blocks. They can use the  Temenos Infinity Micro Apps as accelerators to add new functionality.  

• Simplify the configuration of Temenos Infinity: Temenos Infinity for Retail Banking includes a  tremendous amount of functionality. With this new approach, banks can easily remove or disable the  Micro Apps they don’t need. The cross dependencies between Micro Apps are well defined, so it is  clear how the user experience and functionality of the packaged app will change by removing the  Micro App.  

• Benefit from faster updates and easily add functionality: The Micro Apps architecture makes it  quicker for banks to deliver their applications and progressively enhance their digital customer  experience. For example, a bank may be interested in using the Money Transfer functionality from  Temenos Infinity Online Banking. If the bank is already using an earlier version of the Money Transfer  Micro App, they can simply update just the one Micro App. This significantly reduces the update and  testing time. If the bank does not have that functionality, it can choose just to import the one Micro  App into its existing Temenos Infinity solution.

Nethone's passive behavioral biometrics allows online businesses to seamlessly stop over 95.3% of account takeovers (ATO) - cyber threats that have been spreading globally at an alarming rate. Besides ATO, the Polish fraud fighter has been flourishing in its payment and financial application use cases, systematically proving over 10 p.p. higher fraud detection precision than the conventional methods.

Atmos Ventures and ARIA are leading Nethone's most recent fundraising alongside Innovation Nest, Plug and Play Ventures, Firlej Kastory and several business angel investors. Series A will allow Nethone to accelerate its go-to-market efforts and further strengthen its proprietary Know Your User (KYU^TM) profiling technology to equip global leaders with the right tools against fraudsters.

COVID-19 boosted the significance of cybersecurity given the pandemic-induced growth of demand for direct-to-customer online commerce (both web and mobile) and the associated next-generation financial services. The past 12 months provided Nethone with sufficient momentum to more than double its client base, but also enjoy increasing volumes in onboarded accounts across eCommerce, digital goods & services and financial services verticals.

Fighting fraud in the COVID era

The last year has seen an unprecedented spike in fraudsters’ activities. COVID-19 has fueled a "professionalization of fraud" trend that Nethone has been observing systematically escalate since the company’s inception in 2016. “Barriers to entry for fraudster-wannabes have been steadily decreasing. More and more sophisticated SaaS-based tools became available for anyone with some financial resources at their disposal. Today, these are advanced technical solutions built by well-organized, highly experienced groups of rogue IT experts. Wrapped in a user-friendly interface and excellent customer support they allow for complex anonymisation and automation functionalities as well spoofing of historically trusted digital identities that most of the incumbent fraud detection solutions stand no chance of spotting” – states Hubert Rachwalski von Rejchwald – Nethone’s CEO.

“The forward-looking answer to anyone who wishes to effectively transact online is to deeply understand every single user, as they browse the website or use a mobile app. Our KYU profiling technology gives access to first-hand real-time insights about what is really happening with the device, how this device interacts with the servers of the platform and, last but not least, what is the raw behavior - keystrokes, mouse movements, gyro or accelerometer readings, touches on mobile). These are currently over 5000 attributes that we are extracting passively in the background about every single user thanks to years of targeted research and engineering, Importantly our goal is never to affect the customer journey by staying invisible in the background nor invade end-user privacy thanks to the low-level nature of the attributes we collect” – adds Aleksander Kijek, Nethone’s CPO.

Besides expanding its go-to-market efforts, the plan is to use the capital to increase the velocity of roadmap progression with a constructive obsession with features that will maximize perceived utility among the company’s target segments.

Series A led by international investors

Today Nethone’s market success is fueled by: (i) first-hand expertise concerning modus operandi of fraudsters automatically converted into engineering; (ii) unique profiling capabilities on mobile; (iii) state-of-the-art passive behavioural biometrics for recurring user authentication; and (iv) explainability of its machine learning that boosts client adoption.

Nethone’s new investors are internationally known for their investments in transformational high-tech scale-ups focused on research, development and commercialisation of cutting-edge technologies.

“With the post-COVID critical significance of fraud prevention and the fierce competition in creating the frictionless user experience, Nethone has a novel approach to profiling technology fueled by machine learning. And since Atmos is focusing on developing deep technologies in ML-driven commercial solutions, Nethone Profiler combined with the explainability of the machine learning models was an obvious choice for us,” said Hadi Solh, Managing Partner at Atmos. “We are elated to join the team to arm online merchants with deep tech tools against fraudsters.”

“The accelerated growth of eCommerce in the pandemic era - up 30% in value by 2020, naturally increases the scale of fraud in the digital space. Nethone solves the problem of online payment and identity fraud, with annual losses worth around $50 billion. Their technology provides maximum protection without affecting the end-user experience. I see huge potential for the application of this technology, including other companies in our portfolio - wherever payments are involved. I am impressed with Nethone’s highly motivated team, as well as the organizational maturity for an early-stage company. Nethone has proven successful in onboarding clients ranging from traditional banks to fast-growing start-ups across the globe" - highlights Dariusz Lewandowski, CEO of ARIA.

Diego Montes, Venture Capital Investor from Plug and Play Ventures underlines that Nethone’s innovative user profiling, which encompasses more than 5,000 attributes, combined with ML and a specialized team of data scientists, has demonstrated the strength of Nethone's products. These unique elements have allowed Nethone to win clients over its competitors proving their immediate ROI.

You can read more about Nethone here.

Popularity amongst investors for thematic investment strategies remains high.  According to CNBC, assets in thematic ETFs have hit $133 billion, up from $27 billion before the pandemic.1 As one of the key players in the field of thematic investing, Global X ETFs US releases three new ETFs on  one single day, all of which track companies operating on technologies that are expected to shape the  planet’s future. The three ETFs are the Global X Hydrogen ETF,the Global X AgTech & Food Innovation ETF,  and the Global X Blockchain ETF. All ETFs track Solactive indices as their underlying, respectively, and  started trading at NASDAQ on July 14th, 2021. 

Hydrogen, the most plentiful element in the entire universe, serves as one of the promising clean energy  sources in the fight against climate change. According to the EU Commission, cumulated investments in  renewable hydrogen could reach between 180 and 470 billion EUR by 2050, and it is estimated that, by then,  renewable hydrogen will match around one-fourth of the global energy demand, with annual revenue of  around EUR 630 billion. The Global X Hydrogen ETF tracking the Solactive Global Hydrogen Index benefits  from the vast potential that lies in this powerful element. The index serves as a representation of securities of  companies that have business operations in the production or use of hydrogen as a fuel source. More precisely,  the index includes companies operating in the following segments: Hydrogen Production, Hydrogen Fuel Cells,  Hydrogen Technology, and Hydrogen Integration. 

The second ETF is the Global X AgTech & Food Innovation ETF. the food sector has become one of the key  global industries, accounting for around 10% of GDP worldwide.2 Due to the increasing demand from an  expanding population, the necessity to reduce greenhouse gas emissions, and a shift in the population’s  nutrition preferences, companies that implement innovations in agriculture and food manufacturing will have  a solid base to grow in the near future. The Solactive AgTech & Food Innovation Index underlying Global X’s  new ETF serves as a representation of securities of companies that have business operations in technologies  for agriculture and innovative food production and distribution. On one hand, the index includes companies active in Relevant AgTech Activities such as Precision Agriculture, Controlled Environment Agriculture, or  Agricultural Biotechnology. On the other hand, companies active in relevant food innovation activities such as  Protein & Dairy Alternatives and Food Waste Reduction are eligible for index inclusion. 

The third ETF, the Global X Blockchain ETF, tracks companies involved in business operations in the provision  of blockchain technologies. According to a recent study, the global blockchain market size is expected to grow  from USD 3.0 billion in 2020 to USD 39.7 billion by 2025 at an impressive compound annual growth rate (CAGR)  of 67.3% during 2020–2025.2 The Solactive Blockchain Index includes companies with business operations in  the provision of blockchain technologies. The index includes, for example, companies active in Digital Asset  Mining, Blockchain & Digital Asset Transactions, and Blockchain & Digital Asset Integration. 

All indices derive their constituents via Solactive’s proprietary natural language processing algorithm ARTIS®. ARTIS® is utilizing advanced algorithms to parse high volumes of public documents evaluating companies’  exposure to various themes or topics. The sophisticated procedure not only detects potential index  constituents considering a firm’s exposure to a theme but also ranks its importance to the very subject or  industry. 

Timo Pfeiffer, Chief Markets Officer at Solactive, comments: “Each now and then, new technologies emerge,  opening an entirely new universe of application purposes. One recent example is blockchain technology, whose  wide adoption will lead to new possibilities, for example, in data security and contract settling. With hydrogen  gradually revolutionizing the transportation business, Global X’s second ETF not only includes stocks with a  potential strong growth but also emphasizes on technology necessary in the fight against climate change. In  conclusion, the three new Global X ETFs are a prime example of forward-thinking consideration on how to both  give investors added value for their portfolios while fostering technology that will have an impact towards a  sustainable future.” 

For more information please visit: http://www.solactive.com