PALM BEACH, Florida, September 20, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
Blockchain technology continues to become a force to be reckoned with in the digital world, as its effects are being felt in a number of different industries. One of the latest developments comes in the traditional finance world in the area of mortgages, loans and other financial transactions that have remained largely unchanged for decades. Blockchain is disruptive and creating change in these spaces, allowing for lenders and borrowers to more efficiently execute large financial transactions. One of the more significant advantages of leveraging blockchain for financial services is reduced cost while simultaneously securing transactions at higher levels. As a whole, blockchain has already cemented itself as a powerhouse capable of steadily generating multi-billion dollar revenues on a year over year basis. As it begins to creep into traditional markets such as financial services, that growth will only increase. Active companies today in the market include: Block One Capital Inc. (TSX-V:BLOK) (OTC:BKPPF), Fiserv Inc. (NASDAQ:FISV), LexinFintech Holdings Ltd. (NASDAQ:LX), Glance Technologies Inc. (CSE:GETN) (OTC:GLNNF), Pareteum Corporation (NYSE:TEUM).
Block One Capital Inc. (TSXV:BLOK.V) (OTCQB:BKPPF) BREAKING NEWS: Block One Capital is pleased to provide the following corporate update. Finzat Block LLC ("Finzat"), a Block One Capital fin-tech portfolio company, has formed a strategic partnership with Thomas Ho Company Ltd. ("THC"), to provide the first-ever loan transaction capabilities built on blockchain technologies. THC is a New York based nationally recognized leader in asset-liability management and whole loan trading.
Finzat and THC's network, driven by Smart Contract technologies and blockchain applications, is designed to streamline the participants' operation, strengthen security protocols, shorten transaction time and ultimately increase profitability. Community banks and credit unions lacking scale to fully access these benefits on their own can now have the opportunity to do so through this network.
"Dr. Ho is a proven expert in whole loan trading and balance sheet analysis. We believe that the synergies created between Dr. Ho, when combined with Finzat's own strengths in blockchain technology, are substantial. This new partnership has significant possibilities to create a meaningful blockchain network effect", said Dr. Gnanesh Coomaraswamy, Finzat CEO.
Adding recently named senior advisor Alex J. Pollock's expertise in mortgage markets and strategic advice to Dr. Thomas Ho's long and successful track record in financial risk management and loan trading, gives Finzat distinct advantages as it looks to offer much needed competition in the approximate $10 trillion US residential mortgage market. As President of the Federal Home Loan Bank of Chicago, Mr. Pollock created the highly successful MPF mortgage acquisition program. Finzat executives Michael Moore and Dr. Gnanesh Coomaraswamy were also part of the MPF senior team. The Federal Home Loan Bank mortgage acquisition programs total well over $55 Billion today.
"THC is delighted to partner with Finzat, whose management team has a track record of outstanding achievement in the mortgage market and has acquired utility blockchain technologies. We expect that Finzat will complement THC's network of asset-liability management analytical and transactional technologies, which, in turn, will be greatly beneficial to our clients," said Dr. Thomas Ho, president of THC. Read this and more news for Block One Capital at: http://www.marketnewsupdates.com/news/blok.html
In other industry news and developments:
Fiserv, Inc. (NASDAQ:FISV) is helping banks and credit unions deliver enhanced digital account opening and loan origination with OriginateSM, a new suite of solutions built to provide the functionality and ease of use that on-the-move consumers are demanding. The first solution in the suite, Originate Deposits from Fiserv, features a simple, step-by-step user interface with optional ID scanning, autofill, and facial recognition to allow consumers to easily and securely open an account or initiate a loan application from a mobile device, tablet, computer, or at a branch. Fiserv conducted extensive consumer research and user experience testing as a part of the product development process to identify pain points and shortcomings in current digital account opening and loan origination experiences. Originate Deposits alleviates multiple layers of friction to create an intuitive, step-by-step user experience that is fast, easy to use and uniform across channels - and results in higher user satisfaction and reduced abandonment. Numerous institutions are already selecting the solution for online account opening.
LexinFintech Holdings Ltd. (NASDAQ:LX) recently attended the World Economic Forum (WEF) in Tianjin, China, also known as Summer Davos, where the company's CEO spoke about what artificial intelligence (AI) has brought to business and society. Lexin's CEO Jay Wenjie Xiao was invited to share his insights on AI as a representative from the fintech sector at a panel discussion under the theme of "A Global Conversation on Artificial Intelligence" on Sept. 18 with other panelists from business, venture capital, and academia. The financial and advertising industries are two sectors where AI has unlocked the most business potential with widespread adoption, Xiao said when asked about what AI means to business. LexinFintech is a leading online consumer finance platform for educated young adults in China. As one of China's leading financial technology companies, Lexin integrates its e-commerce-driven installment finance platform, Fenqile, with advanced risk management technologies, the Company's Dingsheng asset distribution technology platform, and the Company's Juzi Licai online investment platform for individual investors, to create a comprehensive consumer finance ecosystem. The Company utilizes technologies including big data, cloud computing and artificial intelligence to enable the near-instantaneous matching of user funding requests with offers from the Company's more than 30 funding partners, which include commercial banks, consumer finance companies, and other licensed financial institutions.
Glance Technologies Inc. (CSE:GET.CN) (OTCQB:GLNNF) earlier this week announced an upcoming new feature that will empower Glance Pay users to pay with Bitcoin. The new feature, Pay With Bitcoin, will enable Glance Pay users to pair their cryptocurrency wallet with their Glance Pay account, and then purchase Glance Dollars with Bitcoin. Glance Dollars represent a credit that can be spent instantly at participating merchants within the Glance Pay ecosystem. "We are committed to being at the forefront of payment technology as part of our long-term growth strategy," says Glance Technologies CEO Desmond Griffin. "This feature allows Glance users to unlock the value of their crypto assets for use in their everyday lives while seamlessly opening up a new cutting-edge payment method for merchants." Pay With Bitcoin marks an important step forward as Glance advances its blockchain infrastructure. Bitcoin is the world's pre-eminent cryptocurrency, however, one of the problems with Bitcoin payments are that transactions can take hours to complete. Glance's new feature will solve this problem by enabling lightning-fast payments.
Pareteum Corporation (NYSE:TEUM) recently announced the establishment of its Singapore office, Pareteum Asia Pte Ltd ("Pareteum Asia"). The number of Asia based customers has grown during the past two years, and the opportunities available to Pareteum throughout Asia, including Australia and New Zealand, have led to our need for direct in-market presence to meet our growing demands. Mr. Manjot Mann has been named Chief Executive Officer (CEO) of Pareteum Asia Pte Ltd. Pareteum's Chief Revenue Officer, Rob Mumby, will join Mr. Mann at the TechXLR8 Asia event in Singapore at the Marina Bay Sands Expo and Convention Centre on the 19th and 20th of September. The Pareteum meeting room is located at the entrance to the MVNO Exhibition area. Email meeting requests to: firstname.lastname@example.org. Prior to joining Pareteum, Mr. Mann served 4 years at Lebara Limited, London, United Kingdom, where he was CEO, Communications (Mobile) and Convergence, the most successful Mobile Virtual Network Operator (MVNO) in the world. Mr. Mann was key in the private equity acquisition of the London-based mobile company. Previously, Mr. Mann served 8 years with Hutchison Telecommunications, Jakarta, Indonesia, a highly competitive market where as CEO he drove exceptional revenue and profitability growth.
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