Dynamic Planner has boosted specialist expertise in its Proposition Team with the appointment of Steph Willcox as Head of Actuarial Implementation.  This latest appointment follows the recent expansion of Dynamic Planner’s Sales and Marketing teams and underlines the accelerating growth of the business. 

Steph has spent her career working across pensions, tax and insurance and has focused on stochastic modelling for the past 10 years.  In her most recent role as Lead Actuary at EValue, she was responsible for the Actuarial function and calculation approach of the stochastic model. Steph is a fellow of the Institute and Faculty of Actuaries and part of an Actuarial Working Party which is focused on personal financial planning, bringing actuaries and advisers closer together, and helping to drive support of financial advice and retirement planning. 

At Dynamic Planner, Steph will lead the actuarial responsibilities of Investment Services. She will be responsible for ensuring the software represents future events accurately and in line with mathematical and actuarial principles and the Asset Risk Model. Steph will report to Chris Jones, Proposition Director at Dynamic Planner, working alongside other key team members including Abhi Chatterjee, Chief Investment Strategist, Jim Henning, Head of Investment Services and Jason Dewar, Head of Research. 

Chris Jones, Proposition Director at Dynamic Planner said: “As we continue to build out the business, it is critical we get the best, specialist and expert knowledge in place. The past 12 months have been incredibly busy development wise, but we are only getting started. Steph’s input will turbo charge our commitment to provide our clients with market leading systems such as Cash flow. She has extensive experience of financial planning software and stochastic forecasting implementation which will be invaluable to us as the growth of the business continues to accelerate. "

“She has deep technical knowledge across the savings and investment landscape, in particular around taxation and pensions which will be a huge asset.  Steph is passionate about bringing actuaries and advisers closer together for the good of the industry and investors, and we look forward to her injecting this drive into her work at Dynamic Planner.”  

Danish startup, Female Invest (www.femaleinvest.com), is an EdTech platform and community which, through approachable subscription-based e-learning, empowers millennial and Gen Z women by increasing their understanding of personal finance and investing.

At a time when 70% of stocks are owned by male investors (1 in 5 British women admitting to having never held stocks), and female workers retiring with around £70,000 less in their pensions than men (Nest survey - Oct 2020), Female Invest aims to close the gender investment gap by providing a space in which women can acquire the skills necessary to control their own capital and obtain financial independence. What’s more, according to analysis by Warwick Business School, women who do take the plunge outperform men when it comes to investment returns, making the need for a company run by women, for women, that approaches finance in a fun and authentic way, all the more pertinent.

Already Europe’s largest financial educator of its type for women, following financing from the Danish state investment fund in December 2020, Female Invest’s priority for 2021 is to further expand its presence within the UK. Its British membership has grown 1,000%+ during 2020 and now more than 10% of the platform’s users are from the UK.

Female Invest - How It Works

In June 2021, Female Invest relaunched its platform. More than 500 members have been involved in the making of the new platform, either through focus groups, testing or user feedback.

For a subscription of £9.50 per month (or £7  a month if you sign up for a year) members gain access to an online universe of content, courses, webinars, video tutorials, articles, and easy-explainers: all designed to empower women to take control of their finances and underpinned by Female Invest’s message of “Get your S.H.I.T. together - (salary, home, investments, taxes).” 

The main upgrades include all content being recreated and extended with 25+ animated videos. There are three new structured learning flows; 1) Personal Finance, 2) Investing, and 3) Career. 

Furthermore, there is a brand-new integrated community where members can interact with each other and with the Female Invest team. Feedback for this aspect has been overwhelmingly positive with users saying how the new community is a safe space they have always wished they had to ask questions and share their investment journeys with other like-minded women. 

There will be a premium plan launching in July 2021 which will include recorded video masterclasses from financial experts on topics such as sustainable investments, setting your children up for financial success and how to invest in alternative stocks. 

Approximately 50% of live events have external speakers, with guest contributors from the likes of Nasdaq, SaxoBank, and UBS providing additional content and industry-specific expertise.

Another example of a popular concept is the F*** U Fund, which is a savings account that Female Invest suggests its members set up. The F*** U Fund empowers women to be able to say F*** U to something that no longer serves them - such as a job they no longer want. It gives women the financial padding that they need when choosing to make a change. 

Female Invest has members across 60+ countries. To date, more than 60,000 women have attended live events staged by Female Invest (both in-person and online, in the wake of Covid-19) where women are taught how to invest with a starting fund of as little as £400.

#BeatTheGap

On 16th June 2021, Female Invest launched its global campaign #BeatTheGap (https://femaleinvest.com/beatthegap)  to raise awareness of the financial gender gap. More than 60 women from 6 different continents, acting as ambassadors for the campaign, joined forces in support of financial gender equality. The film cuts from one ambassador to the next pounding their fists against their chests, in a direct reference to the famous scene in the Hollywood film The Wolf of Wall Street and the landing page for the campaign provides an interactive graph to show how your money can grow through investing compared to saving. Female Invest believes that with every woman who invests, society can move one step closer to beating the financial gender gap. 

Female Invest - Developed By Women For Women

Female Invest was founded in 2017 by Emma Due Bitz (26), Camilla Falkenberg (28), and Anna-Sophie Hartvigsen (27), and inspired by their own experiences of attending personal finance educational events at which women were largely absent, and their subsequent discovery of the unaddressed gender disparity in investments and savings. 

All three co-founders were named in the Forbes 30 Under 30 list for 2020, and in the same year, the company was the recipient of the Cartier Women’s Initiative Award and the prize of 100,000 USD. 

Female Invest co-founder, Anna-Sophie Hartvigsen, explains the rationale underpinning the platform: “Internationally, women are falling further behind when it comes to finance. They are earning less, saving less and then - with what money they have - they are investing less. Our job at Female Invest is to close that gap as quickly and helpfully as possible.”

Co-founder, Camilla Falkenberg, outlines the need to reinvent the paradigm of how young women experience financial advice: “When it comes to money-saving insights, the internet is filled with sites which advise young women on how to save money on beauty, clothes, food and going out. Yet, when it comes to making money, there is almost nothing on helping women make substantial investments. Female Invest fills this gap.”

Yet Female Invest intends to achieve more than just financial education. Co-founder Emma Due Bitz, who worked as a certified stockbroker from the age of 20, explains that a byproduct of the platform should be to contribute to the demystification of the world of investments: “The financial industry has traditionally been dominated by men. This is reflected in every aspect of it: from communication style to the corporate culture and product offerings. While this is not done with the intention to exclude women, it effectively does just that.”

Dynamic Planner has boosted specialist expertise in its Proposition Team with the appointment of Steph Willcox as Head of Actuarial Implementation.  This latest appointment follows the recent expansion of Dynamic Planner’s Sales and Marketing teams and underlines the accelerating growth of the business. 

Steph has spent her career working across pensions, tax and insurance and has focused on stochastic modelling for the past 10 years.  In her most recent role as Lead Actuary at EValue, she was responsible for the Actuarial function and calculation approach of the stochastic model. Steph is a fellow of the Institute and Faculty of Actuaries and part of an Actuarial Working Party which is focused on personal financial planning, bringing actuaries and advisers closer together, and helping to drive support of financial advice and retirement planning. 

At Dynamic Planner, Steph will lead the actuarial responsibilities of Investment Services. She will be responsible for ensuring the software represents future events accurately and in line with mathematical and actuarial principles and the Asset Risk Model. Steph will report to Chris Jones, Proposition Director at Dynamic Planner, working alongside other key team members including Abhi Chatterjee, Chief Investment Strategist, Jim Henning, Head of Investment Services and Jason Dewar, Head of Research. 

Chris Jones, Proposition Director at Dynamic Planner said: “As we continue to build out the business, it is critical we get the best, specialist and expert knowledge in place. The past 12 months have been incredibly busy development wise, but we are only getting started. Steph’s input will turbo charge our commitment to provide our clients with market leading systems such as Cash flow. She has extensive experience of financial planning software and stochastic forecasting implementation which will be invaluable to us as the growth of the business continues to accelerate.   

“She has deep technical knowledge across the savings and investment landscape, in particular around taxation and pensions which will be a huge asset.  Steph is passionate about bringing actuaries and advisers closer together for the good of the industry and investors, and we look forward to her injecting this drive into her work at Dynamic Planner.”   

PFC Consulting Limited (PFCCL), a wholly-owned subsidiary of Power Finance Corporation Ltd. (PFC), has complete the process of incorporating Lucknow based Special Purpose Vehicle (SPV) Company- Mohanlalganj Transmission Limited as its wholly owned subsidy.

The amalgamation will work towards the development of transmission scheme for the “Construction of 400/220/132kV GIS Sub-station at Mohanlalganj in Lucknow with associated 400kV Transmission lines. This will also help in the development for the associated 765kV & 400kV LILO transmission lines at 765kV GIS Sub-station at Rampur (UP) and 400kV LILO (Quad Moose on Monopole) at 400kV GIS Sub-station Sector-123, Noida (UP).

The Transmission Scheme is an initiative under the aegis of Ministry of Power (MoP) for the development of Independent Transmission Project through Private Participation in India. This incorporation will benefit the domestic and commercial consumers of the surrounding region with improved power transmission.

Global FinTech Paysend today announces the global rollout of its new Paysend 4.0 app, combining the firm’s international transfers, multicurrency accounts and cross-border payments in a simple, top performing, all-in-one digital APP. The launch started in UK and is being rolled-out all over Europe.

Paysend just completed a B-Round investment for 125M $ and is boosting its innovation pipeline through innovative products that are able to save time, save money and service millions of people all over the world with the most advanced technology and for a seamless experience. The Paysend product team has been growing with several top-class engineers and developers all committed to create and deliver the next generation of digital money products.

The new Paysend 4.0 is a fully upgraded version on existing Global Transfers app. It embeds several important features like Money Transfer, a multi-currency Global Account and a physical and virtual card. Its multi-currency account allows users to open different currency wallets, hold up to several currencies at any one time (GBP, USD, EUR, CHF, CNY, PLN, CZK), and switch between them instantly so you can send money to over 128 countries in the world. These currencies can then be linked to the Paysend Mastercard or in-app Virtual Card and be used for online purchases, everyday purchases or at ATMs worldwide with low fees. Customers can add all their existing banks on this one app, and they can view all their balances and bank statements of the last 90 days on Paysend.

The multi-currency account and Paysend cards are designed for people who live, travel and work abroad. The easy-to-use mobile app also embeds a simpler on-boarding process and is truly the perfect bank alternative. The new improved onboarding experience lets the Paysend customers start their first transaction in less than 5 mins, removing the hassle of setting up an international account through a traditional banking provider.

Meanwhile, the new Paysend 4.0 app retains the powerful international payment processing of Paysend Global Transfers, letting users make card-to-card transfers to any Visa, Masterсard or Union Pay cards, Alipay accounts, and to regular bank accounts in over 120 countries through its faster outbound and inbound system. Customers can now move funds from their existing bank accounts seamlessly without the hassle of adding accounts as beneficiary. It has also added the cash pick up feature which is of great value in several countries.

“We want to change the way deal with money, connecting millions of people around the globe in a seamless way. The new Paysend 4.0 is an app that will make the life of customers so much easier: with low, fixed fees, an intuitive and simple interface, amazing rates, and of course our powerful digital technology” Abhishek Tripathi, Head of Product at Paysend said. “In this day and age, consumers want to manage their money on their terms, wherever in the world they are. The new Paysend app is a revolutionary tool to do this, in a way that is instant, borderless and affordable. Security, convenience and flexibility are the foundations on which we’ve built the new app, and we’re delighted to help millions of people every day with it. The Product Team at Paysend has been working with drive and passion to provide a new level of experience for all customers, and this is just the start of our innovation journey to create the money for the future.”

As one of the Kiwi pioneers in responsible investing, major Aotearoa New Zealand asset manager Kiwi Wealth has collaboratedwith German index engineer Solactive  to create a bespoke benchmark aligned with the asset manager’s own sustainability principles. This new  index – the Solactive Kiwi Global Markets Screened Index – took effect on 1 June and is now utilised as the  benchmark for Kiwi Wealth’s Core Global Equity Fund. The index covers the largest c.3,000 companies in  Developed and Emerging Markets and excludes any company on the Kiwi Wealth exclusion list. 

The key innovative feature of the Solactive Kiwi Global Markets Screened Index is its adaptation to Kiwi  Wealth’s exclusion policy both now and in the future, making it simple to meet stakeholder demands without  costly transitions. When used to benchmark Kiwi Wealth’s active strategies, it will allow portfolio managers to  more accurately target active risk without the necessity to replace excluded companies with proxies. When  used to benchmark a passive global equity fund, it will also facilitate benefits such as tax efficiency, low  management costs, and sustainable proxy voting. 

The new index is derived from Solactive’s flagship Global Benchmark Index Series (GBS). This series looks at  24 Developed and 26 Emerging Markets countries and covers more than 11,000 stocks throughout various size  segments in terms of free-float market capitalization. Forthe Solactive Kiwi Global Markets Screened Index,  Solactive utilized its Solactive Global Markets Large and Mid Cap Index as a starting point, covering 85% of the free-float market capitalization from each of the 50 countries. The resulting index consists of c.3,000 stocks. 

From this starting universe, the index applies an ESG screening provided by Kiwi Wealth’s proprietary exclusion  list. Companies involved with very damaging product lines such as tobacco and controversial weapons, or  which exhibit highly unethical behaviour such as environmental or human rights abuses, have been screened  and excluded. Kiwi Wealth also excludes, for example, companies involved in the hunting of whales and the processing of whale meat; companies producing or distributing palm oil, which do not demonstrate sufficient  commitment to preventing deforestation through observing RSPO and source tracing standards; and  companies using thermal coal or nuclear reactors to generate power without a credible transition plan to  renewables. 

Timo Pfeiffer, Chief Markets Officer at Solactive, says: “The joint index project with Kiwi Wealth is another  prime example of ESG pervading both the investor’s demand-side and the asset manager’s supply side, proving  once more that ESG is not a short-term trend but a progressive mindset increasingly ingrained in fundamental  entities such as benchmarks. We are very happy that with Kiwi Wealth, we have found a trusted partner from  Aotearoa New Zealand,who shares our vision and with whom we can bring yet another ESG solution to market,  thereby helping our planet to become a more sustainable place for all.” 

Steffan Berridge, quantitative and responsible investments strategist at Kiwi Wealth, says: “As part of our  continuous development in Responsible Investment implementation, we are very excited to have completed  this next milestone with Solactive, which is a German-based global leader in index engineering – its entry into  Aotearoa New Zealand will move the domestic sector forward. The new benchmark has a number of  advantages for Kiwi Wealth: ultimately, it will ensure our portfolios are benchmarked in a way that fully aligns  with our exclusion list; it will enable us to implement RI with exclusions in a scalable, compliant way; and it  will allow us to operate compliant indexed or passive funds that are low cost, tax-efficient and sustainably  proxy voted.” 

The rise of ESG can be attributed in part to investors’ mindfulness of the wider impact their activities have in  shaping the future and to corporations’ acknowledgement that it is a vital factor in ensuring their long-term  success. In this context, asset managers play a crucial role in facilitating this transition and are quickly  increasing their efforts to implement their own corporate social responsibility principles into their investment  processes. As part of this development, asset managers are also progressively demanding the integration of  various sustainability criteria into their benchmark indices to ensure that, for example, their own CSR  principles are reflected adequately within their overall investment approach. 

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

The Association of National Numbering Agencies (ANNA), a global member association seeking to foster standardisation within the financial industry by upholding the International Organisation for Standardisation (ISO) principles and by promoting International Securities Identification Numbers (ISINs), Classification of Financial Instrument codes (CFIs), and Financial Instrument Short Names (FISN), for financial instruments, announced today the appointment of a new board member Krajowy Depozyt Papierów Wartościowych SA, (KDPW SA), represented by  Slawomir Zajac, as well as the re-election of Board members Euroclear Bank SA/NV, represented by Dan Kuhnel, and DCV Asesorías y Servicios SA, Chile, represented by Claudio Garin.

The ANNA board consists of individuals from senior positions at global financial institutions. The board brings with it a depth of knowledge, expertise and understanding within the financial industry. Leaving the ANNA board following a three-year term is Securities Depository Center of Jordan, represented by Sarah Tarawneh, with many thanks for her contribution.

Slawomir Zajac is Director of the Trade Repository Department at Krajowy Depozyt Papierów Wartościowych SA, (KDPW SA), the Central Securities Depository of Poland (CSD of Poland), and is an expert in the field of regulatory reporting and supervises the issuance of ISIN, CFI and FISN codes for KDPW as the Polish National Numbering Agency (NNA). 

Emma Kalliomaki, MD of the ANNA, said, “We are delighted to have Slawomir Zajac join the ANNA board. ANNA has a key role in assisting market participants to address their regulatory obligations as well as address standardisation challenges as the market continues to evolve. It is important for the industry to work together to find ways to mutualise areas where all can benefit, and the ANNA board ensures this is at the core of everything ANNA does. Slawomir Zajac is joining at the perfect time to help steer ANNA’s collaborative approach.”

Slawomir Zajac ANNA new board member said, “It is an honour to be joining the ANNA board. The global financial markets rely on the continued adoption, allocation and accessibility of the ISIN, CFI and FISN standards to help facilitate open, transparent markets, while protecting the integrity of each standard. ANNA’s global network of member National Numbering Agencies (NNAs), responsible for ISIN, CFI and FISN assignment and maintenance, are vital for harmonised implementation and continued data alignment of these standards for the financial markets. I look forward to working with the board and the NNA’s to continue fulfilling ANNA’s mission in the promotion and fostering of standardisation for the benefit of all stakeholders.”

The ISO ISIN standard has become the recognised global standard for unique identification of all types of financial and referential instruments, helping to connect and protect global markets. ANNA collaborates with other standards bodies and industry to continuously develop and promote standards in-line with industry needs and market evolution, such as with the emergence of digital assets.

As part of a large-scale strategic project to update its entire processing infrastructure, Millikart, the leading independent processor in Azerbaijan, has successfully migrated its Visa connections to its new platform. The migration of the Visa network is the first stage in the Millikart’s transformation project that will see it migrate all of its services to the open development payments platform, TranzAxis, from Compass Plus.

Servicing banks, non-bank credit organisations, as well as payment organisations, Millikart required a platform that would enable it to adapt quickly to the rapidly growing and evolving Azerbaijan market now and long into the future. The processor chose TranzAxis as its new processing platform as it allows it to substantially expand the services it offers to its customer banks and significantly increase time-to-market for new products and services, while improving service availability. The introduction of the new platform will also enable Millikart to optimise their costs in terms of maintaining its entire processing infrastructure.

The connection of Millikart’s Visa channel to TranzAxis completes the first stage of its ambitious project to migrate its entire processing infrastructure to the new platform.

“The migration of the processing platform to a new, modern and more flexible system is one of the key stages in the development of MilliKart. After conducting a detailed research and study of the main products in this industry, the decision was made and the choice fell on the TranzAxis system from Compass Plus. In addition to the advantages of the platform itself, among the selection criteria was the fact that Compass Plus and its specialists have vast experience in such projects and have repeatedly proved their high professionalism. We believe and work to ensure that this project is successfully completed in the near future, which will allow MilliKart to provide its customers with even more flexible and progressive services and products,” said Elnur Mammadov, Executive Director of MilliKart.

“Millikart is a dynamic processor, committed to ensuring it can offer its customer banks the most innovative products and services,” said Alexey Osipov, EVP of Compass Plus. “This project is of particular importance to Compass Plus in the Azerbaijan market, as it is not the migration of one bank, but a processor serving more than a dozen banks, who each have their own specific, diverse product and service offerings. We are currently working with Millikart on the next stage of the project, which will see the migration of several financial institutions to the new platform.”