Category: Business

Categories
Business

AM Best withdraws credit ratings of Associated Indemnity Corporation

OLDWICK, N.J. — (BUSINESS WIRE) — #insurance—AM Best has withdrawn the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of “aa” (Superior) of Associated Indemnity Corporation (AIC) (headquartered in Chicago, IL). At the time of the withdrawal, these Credit Ratings (ratings) were stable.

AM Best has withdrawn these ratings as AIC is no longer a risk-bearing entity, nor is it currently part of any reinsurance or pooling agreement that would warrant rating support from another entity. AM Best currently does not conduct ratings on non-risk-bearing entities. If AIC were to become a risk-bearing entity again, the company would be eligible to participate in AM Best’s interactive rating process.

 

Effective Jan. 1, 2022, WCF National Insurance Company completed its acquisition of AIC from Fireman’s Fund Insurance Company. AIC was acquired as a clean shell. Under the terms of the transaction, Fireman’s Fund Insurance Company will reinsure and indemnify WCF National Insurance Company for all policies issued and operations conducted by AIC prior to the date of sale.

 

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

 

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

 

Copyright © 2022 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Daniel Mangano

Senior Financial Analyst

+1 908 439 2200, ext. 5547

daniel.mangano@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Robert Raber
Director
+1 908 439 2200, ext. 5696

robert.raber@ambest.com

Jim Peavy
Director, Communications
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

Categories
Art & Life Business

Cenntro Electric Group announces the change of its trading symbol from ‘NAKD’ to ‘CENN’

FREEHOLD, N.J. — (BUSINESS WIRE) — Cenntro Electric Group Limited (NASDAQ: NAKD), a leading EV technology company with advanced, market-validated electric commercial vehicles, today announced that its trading symbol on the Nasdaq Capital Market (NASDAQ) will change from “NAKD” to “CENN” at the open of market trading on Friday, January 14, 2022.

The change in trading symbol follows the previously announced closing of Naked Brand Group Limited’s acquisition of the outstanding capital stock of three entities comprising Cenntro Automotive Group and its name change to “Cenntro Electric Group Limited.”

 

“We are pleased that our new trading symbol now aligns with our brand and will strengthen our visibility with investors and provide consistent recognition to our shareholders as we reach another milestone as a public company,” said Peter Wang, CEO, Managing Director and Chairman of Cenntro Electric Group Limited. “We remain committed to our vision and maximizing shareholder value by leveraging our IP and ability to design and produce innovative electric commercial vehicles while scaling our decentralized production model as we address the needs of growing market demand.”

 

No action is required from Cenntro shareholders in order to effectuate the change in trading symbol. Cenntro’s ordinary shares will continue to be listed on NASDAQ and the CUSIP number will remain unchanged.

 

About Cenntro Electric Group

Cenntro Electric Group is a leading EV technology company with advanced, market-validated electric commercial vehicles. Cenntro plans to lead the transformation in the automotive industry through scalable, decentralized production and fully digitalized autonomous driving solutions empowered by the Cenntro iChassis. Cenntro has produced and delivered over 3600 commercial EVs in more than 26 countries. For more information about the company, please visit www.cenntroauto.com.

 

Forward-Looking Statements

This communication contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts. Such statements may be, but need not be, identified by words such as “may,” “believe,” “anticipate,” “could,” “should,” “intend,” “plan,” “will,” “aim(s),” “can,” “would,” “expect(s),” “estimate(s),” “project(s),” “forecast(s)”, “positioned,” “approximately,” “potential,” “goal,” “strategy,” “outlook” and similar expressions. Examples of forward-looking statements include, among other things, statements regarding decentralized production and fully digitalized autonomous driving solutions. All such forward-looking statements are based on management’s current beliefs, expectations and assumptions, and are subject to risks, uncertainties and other factors that could cause actual results to differ materially from the results expressed or implied in this communication. For additional risks and uncertainties that could impact Cenntro’s forward-looking statements, please see disclosures contained in Cenntro’s public filings with the SEC, including the “Risk Factors” in Cenntro’s Report of Foreign Private Issuer on Form 6-K filed with the Securities and Exchange Commission on January 5, 2022 and which may be viewed at www.sec.gov.

Contacts

Investor Relations Contact:

Chris Tyson

MZ North America

CENN@mzgroup.us
949-491-8235

Company Contact:

PR@cenntroauto.com
IR@cenntroauto.com

Categories
Business News Now!

Provenir appoints Waldemar Faltenberg to lead expansion in the DACH region

Appointment underscores company’s growing presence in the region

 

PARSIPPANY, N.J. — (BUSINESS WIRE) — #banking—Provenir, a global leader in AI-powered risk decisioning software, today announced Waldemar Faltenberg has been appointed Senior Sales Executive, DACH, following the company’s rapid growth in 2021 and increased demand for its products and services in the region. Faltenberg will manage sales operations for Austria, Germany and Switzerland as Provenir continues to expand its presence worldwide.

Faltenberg brings more than 15 years’ experience in financial services to his new role. Prior to joining Provenir, he served in senior sales management and consulting positions at BFS finance GMBH, VR Smart Finanz AG, VR Leasing AG and Coface, developing marketing strategies, building and expanding partnerships and guiding clients through digitalization projects to modernize their online channels.

 

“Waldemar has a wealth of experience in the German banking market and in credit risk decisioning specifically,” said Frode Berg, Managing Director EMEA. “An increasing number of organizations in EMEA are selecting Provenir as their risk decisioning partner. Waldemar will spearhead our efforts to engage with fintech innovators and innovative banks seeking access to industry-leading AI-powered risk decisioning software for real-time credit decisioning.”

 

“I am excited to join Provenir at this pivotal time as demand for solutions enabling real-time processes is surging to meet customers’ desire for instant decisions,” said Waldemar. “The market for financial services solutions in DACH is growing rapidly, and I look forward to continuing to build upon Provenir’s momentum in the region.”

 

Provenir’s AI-powered risk decisioning software is the industry’s first, true risk-decisioning ecosystem. It provides a comprehensive real-time view of unified decisioning-performance, third-party and historical data, as well as automated analytics. Through one unified digital experience, users can create the platform-as-a-service (Paas) cloud solution that best fits their business needs.

 

About Provenir

Provenir helps fintechs, financial institutions, and payment providers make smarter decisions faster by simplifying the risk decisioning process. Its no-code, cloud-native SaaS products form a risk decision engine for real-time approvals and make it easy to rapidly create sophisticated decisioning workflows. With a global data marketplace for seamless integration, powerful AI and machine learning models, and real-time insights, Provenir has supercharged decisioning speed. Provenir works with disruptive financial services organizations in more than 40 countries and processes more than 2 billion transactions annually.

Contacts

Erin Lutz

Lutz Public Relations and Marketing (for Provenir)

949-293-1055 | erin@lutzpr.com

Categories
Business

SmartBiz awards $25,000 in grants to minority-owned small businesses

SAN FRANCISCO — (BUSINESS WIRE) — SmartBiz Loans®, the leading small business financing platform for SBA and bank term loans, has announced five new recipients of the 2021 SmartBiz® Grant Program. The Program was established to support minority, women, and veteran business owners during the continuing pandemic and is an extension of the Company’s mission to help equip entrepreneurs with reliable access to smart capital.


Last quarter, SmartBiz awarded five $5,000 grants for a total of $25,000 to small businesses in the U.S. as part of the Program. The recipients were chosen from a pool of eligible minority, women, and veteran-owned businesses who applied and outlined how they will use the funds to help their business face new challenges and move forward.

 

“The SmartBiz team is committed to empowering entrepreneurs across the U.S.,” says Evan Singer, CEO of SmartBiz. “From supply chain problems to hiring issues, we know that brighter days are coming and are proud to contribute to small business rebuilding.”

 

The grant recipients include Jasmine Parker, owner of Listen to Your Art Therapy & Empowerment Services, LLC located in Spring Hill, Florida. The organization provides art therapy sessions to assist teens in solving problems, increasing self-esteem, building social skills, and behavior management. Grant funds will be used to expand their mobile services.

 

Eliana Stefanitsis, owner of Molos Restaurant, is using the proceeds for staff uniforms and vendor payments. Molos Restaurant is a Greek and Mediterranean inspired seafood restaurant located on the Hudson River in New Jersey.

 

MPower Fitness, located in Palm Coast, Florida, is owned and operated by Fatima Q. Sena. She’ll use grant funds to purchase gym equipment so she can work with an older demographic and for print advertising to reach that community.

 

Freedom Bremner describes himself as a singer, songwriter, and storyteller. He is the founder of Houseofreedom, LLC in New Jersey. The funds will be used for social media and online marketing to promote his live music production services.

 

Brandi Dobbins owns and operates B’s Maple House Restaurant in Ontario, California. Founded in 2020, B’s Maple House specializes in soul food, blending California flavor with traditional Southern delights. The grant funds will help support daily business operations and new equipment purchases.

 

SmartBiz has committed to support an ongoing grant program for minority, women, or veteran-owned businesses.

 

ABOUT SMARTBIZ LOANS

SmartBiz is the leading AI-powered small business financing platform for SBA and bank term loans, equipping entrepreneurs with access to the right capital at the right time. To date, SmartBiz has connected borrowers with more than $9 billion in SBA 7(a), PPP, and bank term loans while increasing efficiency for its network of banks and trusted lending partners. Over 60% of the loans funded by our banks are for minority, women, and veteran-owned businesses. More than 230,000 entrepreneurs have utilized SmartBiz to access the funding they need to grow.

 

Founded in 2009 and headquartered in San Francisco, SmartBiz is backed by Venrock, Investor Growth Capital, First Round Capital, Baseline Ventures, and Uncork Capital. Learn more at smartbizloans.com.

Contacts

Suzanne Robertson

SmartBiz Loans

Suzanne.robertson@smartbizloans.com
818.585.0181

Categories
Business

NICE positioned as the overall exemplary vendor in 2022 value index for Agent Management by Ventana Research

NICE ranked highest among 18 vendors and recognized as a Value Index Leader across all seven categories evaluated

 

HOBOKEN, N.J. — (BUSINESS WIRE) — #NICE—NICE (Nasdaq: NICE) today announced that it has been named the overall Exemplary Vendor in the 2022 Value Index for Agent Management report by Ventana Research. NICE ranks highest from among 18 vendors assessed and was named a Value Index Leader across all seven categories evaluated in the report. For a complimentary copy of the report, please click here.

Keith Dawson, Vice President and Research Director for Customer Experience at Ventana Research, said, “Choosing the right agent management technology has a major impact on businesses, lowering the total cost of ownership, increasing the return on investment and boosting an organization’s ability to reach its performance potential. NICE has demonstrated leadership across all categories under product and customer experience through CXone and is well deserving of the top rank it has received.”

 

“Our analysis of agent management tools found that many vendors are focusing on helping organizations cope with the lasting disruption from the pandemic,” continued Keith Dawson. “Technology has evolved far beyond old school workforce optimization. For vendors, expanding the scope of their portfolios into areas like knowledge management and real time agent guidance (for example) is a way to differentiate and add value to their customers.”

 

Among the categories assessed and in which NICE received top ratings include Adaptability, Capability, Manageability, Reliability, TCO/ROI, Usability and Validation. These categories were mapped across the product experience and customer experience axes, classifying NICE as the overall leader in Ventana Research’s Value Index for Agent Management report.

 

Paul Jarman, CEO, NICE CXone, said, “With today’s hybrid work model and raising employee engagement requirements, organizations must deliver flexibility, ease of use and adaptability to engage agents and drive positive work experiences. It has highlighted the importance of empowering and preparing agents to address any customer needs event. NICE’s leadership in this report is indicative of our continued commitment to driving meaningful agent experiences through cutting-edge innovation via our CXone and Workforce Management solutions.”

 

About NICE

With NICE (Nasdaq: NICE), it’s never been easier for organizations of all sizes around the globe to create extraordinary customer experiences while meeting key business metrics. Featuring the world’s #1 cloud native customer experience platform, CXone, NICE is a worldwide leader in AI-powered self-service and agent-assisted CX software for the contact center – and beyond. Over 25,000 organizations in more than 150 countries, including over 85 of the Fortune 100 companies, partner with NICE to transform – and elevate – every customer interaction. www.nice.com

 

Trademark Note: NICE and the NICE logo are trademarks or registered trademarks of NICE Ltd. All other marks are trademarks of their respective owners. For a full list of NICE’s marks, please see: www.nice.com/nice-trademarks.

 

Forward-Looking Statements

This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including the statements by Mr. Jarman, are based on the current beliefs, expectations and assumptions of the management of NICE Ltd. (the “Company”). In some cases, such forward-looking statements can be identified by terms such as “believe,” “expect,” “seek,” “may,” “will,” “intend,” “should,” “project,” “anticipate,” “plan,” “estimate,” or similar words. Forward-looking statements are subject to a number of risks and uncertainties that could cause the actual results or performance of the Company to differ materially from those described herein, including but not limited to the impact of changes in economic and business conditions, including as a result of the COVID-19 pandemic; competition; successful execution of the Company’s growth strategy; success and growth of the Company’s cloud Software-as-a-Service business; changes in technology and market requirements; decline in demand for the Company’s products; inability to timely develop and introduce new technologies, products and applications; difficulties or delays in absorbing and integrating acquired operations, products, technologies and personnel; loss of market share; an inability to maintain certain marketing and distribution arrangements; the Company’s dependency on third-party cloud computing platform providers, hosting facilities and service partners;, cyber security attacks or other security breaches against the Company; the effect of newly enacted or modified laws, regulation or standards on the Company and our products and various other factors and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (the “SEC”). For a more detailed description of the risk factors and uncertainties affecting the company, refer to the Company’s reports filed from time to time with the SEC, including the Company’s Annual Report on Form 20-F. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to update or revise them, except as required by law.

Contacts

Corporate Media Contact
Christopher Irwin-Dudek, +1 201 561 4442, ET, chris.irwin-dudek@nice.com

Investors
Marty Cohen, +1 551 256 5354, ET, ir@nice.com
Omri Arens, +972 3 763 0127, CET, ir@nice.com

Categories
Business Lifestyle

Visa Study: Small businesses optimistic, looking to digital payments for growth in New Year

  • The 6th edition of Visa’s Global Back to Business study finds that 73% of small businesses surveyed1 said accepting new forms of digital payments is fundamental to growth in 2022
  • 59% of small businesses surveyed said they already are, or plan to, use only digital payments within the next two years – largely in step with 41% of consumers surveyed who said the same
  • 90% of small businesses surveyed with an online presence said they attributed pandemic survival to increased efforts to sell online

 

SAN FRANCISCO — (BUSINESS WIRE) — As Visa (NYSE: V) continues toward its goal of digitally-enabling 50 million small and micro businesses (SMBs), a new research study released today – the “Visa Global Back to Business Study – 2022 SMB Outlook” – found that 90% of surveyed SMBs said they are optimistic about the future of their businesses, the highest level of optimism in Visa Global Back to Business studies to-date. While wiping down groceries and quarantining mail might be bygones of an earlier pandemic era, some changes – such as increased use of digital payments – are here to stay: 82% of SMBs surveyed said they will accept digital options in 2022 and nearly half (46%) of consumers surveyed2 expect to use digital payments more often in 2022, with just 4% saying they will use them less.

“Payments are no longer about simply completing a sale. It’s about creating a simple and secure experience that reflects one’s brand across channels and provides utility to both the business and its customer,” said Jeni Mundy, Global Head Merchant Sales & Acquiring, Visa. “The digital capabilities that small businesses built up during the pandemic – from contactless to e-commerce – helped them pivot and survive and, by continuing to build on this foundation, can now help them find new growth and thrive.”

 

According to this year’s study, which surveyed small business owners and consumers in nine markets – Brazil, Canada, Germany, Hong Kong, Ireland, Russia, Singapore, United Arab Emirates and United States – the consensus outlook for 2022 is one of optimism and intent to digitize even more:

 

The Path Forward in 2022 for SMBs

  • 2022 Ushers in Optimism and Confidence: Building on the 90% of SMBs surveyed who are optimistic about their future, 54% viewed the last year as an opportunity and report their business is doing well heading into the new year, up from 46% who said the same during summer 2021.3
  • Going Long on Digital Payments – Even Crypto: An overwhelming 82% of SMBs surveyed said they plan to accept some form of digital option in 2022 and 73% see accepting new forms of payments as fundamental to their business growth. Of those surveyed, 24% said they plan to accept digital currencies such as the cryptocurrency Bitcoin.
  • E-commerce Buoyed Businesses: Of small businesses surveyed with an online presence, 90% agreed their survival through the pandemic was due to increased efforts to sell via e-commerce, and reported that, on average, over half of their revenue (52%) came from online channels in the last three months.
  • Leaving the Change: A majority of SMB respondents expect their business to shift to relying exclusively on digital payments in the future. While 64% of survey respondents anticipate being able to make this shift within 10 years, 41% say it could be within the next two years—and 18% are cashless already.

 

Consumers Set the Tone in 2022

  • Accelerating Toward a Digital Future: More than half of consumers surveyed (53%) responded they expect to shift to being cashless within the next 10 years, 25% said it will happen in the next two years and 16% are already using only digital payments. The top benefits for relying more on digital payments amongst surveyed consumers were easier online shopping (47%), followed by less risk of robbery (38%) and convenience (37%).
  • Abandoned Shopping Carts In-Real-Life (IRL): The failure to offer digital payment is frequently a dealbreaker – 41% of consumers surveyed said they have abandoned a purchase in a physical store because digital payments were not accepted, and younger shoppers are even more likely to do so. Gen Z (59%) and Millennials (55%) have not bought something because there was no way to pay digitally, significantly more than Gen X (38%) or Boomers (19%).
  • Consumers Embrace the Global Marketplace: As small businesses look to reach more customers online, 50% plan to increase cross-border sales in 2022. On average, 68% of consumers responded they are comfortable buying items or services from a business in another country or territory. Of those who are not completely comfortable, 57% cited that fraud protection typically offered by their credit or debit card provider, such as Visa’s Zero Liability Policy, makes them more comfortable with international commerce.

 

Digitally-Enabling 50 Million Small Businesses

Since the start of the pandemic, Visa has launched a variety of community-based programs to help more small businesses accept digital payments and gain greater access to the digital economy. As part of this ongoing commitment, Visa today also announced it has helped to digitally-enable 24.8 million SMBs worldwide, or 50% of the multi-year goal it set in 2020 to digitize 50 million SMBs.

 

Throughout 2022, Visa will continue to provide resources that support small businesses, such as the $1 million Grants for Growth program announced earlier this week with Uber and Local Initiatives Support Corporation (LISC). Through Grants for Growth, 100 merchants will receive grants of $10,000, disaster recovery and resiliency guides from Uber and LISC, and placement in the Uber Eats app. Grants for Growth will be supported and managed by LISC and focuses on local Uber Eats restaurants in 10 cities: Atlanta, Boston Chicago, Detroit, Los Angeles, Miami, New York/New Jersey, Philadelphia, San Francisco Bay Area and Washington D.C. For more information on how to apply for Grants for Growth, please visit lisc.org/uber.

 

More information on the programs Visa has made available to small and micro businesses can also be found on the Visa Small Business Hub and the Visa Small Business COVID-19 support site.

 

Methodology: Visa Back to Business Study

The Visa Back to Business Study was conducted by Wakefield Research in December 2021 and surveyed 2,250 small business owners with 100 employees or fewer in Brazil, Canada, Germany, Hong Kong, Ireland, Russia, Singapore, United Arab Emirates and United States. The consumer section surveyed 1,000 adults ages 18+ in the United States, and 500 adults ages 18+ in Brazil, Canada, Germany, Hong Kong, Ireland, Russia, Singapore and United Arab Emirates.

 

About Visa Inc.

Visa (NYSE: V) is a world leader in digital payments, facilitating more than 215 billion payments transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories each year. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.

____________________

1 Unless otherwise noted, percentages cited represent average from SMB respondents across all nine markets: Brazil, Canada, Germany, Hong Kong, Ireland, Russia, Singapore, UAE and US

2 Unless otherwise noted, percentages cited represent averages from consumer respondents in all nine markets: Brazil, Canada, Germany, Hong Kong, Ireland, Russia, Singapore, UAE and US

3 Visa Back to Business Global Study, 5th Edition, page 6

Contacts

Media Contact
Kryssa Guntrum

press@visa.com

Categories
Business Lifestyle

New Majesco research underscores the urgency of acting now to capture and retain the new dominant insurance buyers – Millennials and Gen Z

Expectations for a wider array of capabilities from new products and value-added services to payment options, channel choices and personalized, holistic experiences offer growth opportunities

 

MORRISTOWN, N.J. — (BUSINESS WIRE) — Majesco, a global leader of cloud insurance software solutions for insurance business transformation, today announced the availability of its fifth annual report on insurance customer’s changing expectations, behaviors and needs, Your Insurance Customers – A Crystal Ball of Big Changes in a Small Window of Time. The report, based on primary research with insurance buyers across life/health/ accident, employee/voluntary benefits, auto/mobility, and homeowners/renter’s insurance, underscores the urgency for the insurance industry to rapidly adapt to a new reality for all customers, in particular Gen Z and Millennials who are now the dominant insurance buyer, replacing Gen X and Boomers.

“Millennial and Gen Z life journeys are not following the path set by older generations, with significant lifestyle shifts, needs and expectations from older generations that require different insurance offerings,” said Denise Garth, Chief Strategy Officer at Majesco. “COVID increased the awareness and value of insurance, but also significantly changed expectations of buying to be far more digital, offering insurance through more desired channels – where embedded insurance is seen as extremely valuable, and digital payment options have exponentially increased including through new options like Bitcoin, Zelle and Venmo. Most interesting is the shift in expectations in types of insurance products needed, the necessity for value added services and the demand for personalized underwriting leveraging new data sources including IoT devices.”

 

The Millennial and Gen Z populations desire a holistic customer experience – where digital offerings bring together other products and services to help them manage their lives. This necessitates a full view for customers across their insurance products, value added services and non-insurance products. When insurers can’t deliver that view, a gap arises between what customers expect and what insurers are delivering. This gap opens the door for new competitors to meet that expectation, either directly or through partnerships with insurers. Companies like Toyota, Sofi, Ford, Petco, Outdoorsy are already doing this – offering insurance products through embedding or partnering on channel options with various insurers. The report adds clarity to the market areas where insurers are currently missing opportunities like these.

 

The viability of the insurance industry is vitally connected to these demographic trends, customer expectations and adoption of new technologies and primed for growth. The only question is whether insurers are prepared to capitalize on that growth. The next generation of buyers is here today. The older generation has accelerated their adoption of digital, increasing their expectations as well. Insurers must quickly update their mindsets, their processes and technology, or risk being left behind in a state of irrelevance.

 

Learn more by downloading Your Insurance Customers – A Crystal Ball of Big Changes in a Small Window of Time from the Majesco website or by emailing info@majesco.com.

 

About Majesco

Majesco is the leading software partner to both the P&C and L&A insurance markets to modernize, optimize and innovate their businesses at speed and scale. Over 330 insurers, from greenfields, start-ups and MGAs to the largest insurers, reinsurers and brokers use Majesco’s next generation SaaS platform solutions of core, data, and analytics, digital, distribution, absence management and a rich ecosystem marketplace of established and InsurTech partners to build the future of insurance.

 

Our technology, expertise and leadership help insurers innovate and connect to build the future of their business. With over 825 successful implementations and over 65% of our customers on Cloud with Majesco platform solutions, together we have an amazing track record of innovation and real-world results. For more details on Majesco, please visit www.majesco.com.

Contacts

Laura Tillotson

Director, Marketing Communications and Creative Services

+ 201 230 0752

Laura.Tillotson@majesco.com

Categories
Business Regulations & Security

TNT; PKKFF investor alert: Bronstein, Gewirtz & Grossman, LLC reminds Tenet Fintech Group Inc. f/k/a Peak Fintech Group Inc. investors of class action and encourages shareholders to contact the firm

NEW YORK — (BUSINESS WIRE) — Attorney Advertising — Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Tenet Fintech Group Inc. f/k/a Peak Fintech Group Inc. (“Tenet” or the “Company”) (OTC: PKKFF) (NASDAQ: TNT) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Tenet securities between September 2, 2021 and October 13, 2021, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/tnt.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

 

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose: (1) Tenet Fintech did not own 51% of Asia Synergy Financial Capital Ltd. (“ASFC”) through Wuxi Aorong; (2) Tenet Fintech did not disclose its actual ownership structure of ASFC, an undisclosed and potentially problematic nominee shareholder agreement; (3) Huayan did not own the Heartbeat platform; (4) the Heartbeat platform did not exist prior to the alleged acquisition; (5) Tenet Fintech faced imminent delisting from NASDAQ due to non-compliance with known regulations; (6) the “recent disclosure guidance” was in fact published on November 23, 2020, nearly a full nine months prior to Tenet Fintech’s uplisting; (7) as such, Tenet Fintech knew or should have known that its 40-F submission was deficient; (8) Cubeler historically failed to make even minimum loan repayments to Tenet Fintech; (9) Tenet Fintech, instead of exercising its right on the assets, decided to purchase Cubeler; (10) in light of the foregoing, and in consideration of the fact that Cubeler is owned by several Tenet Fintech insiders, the Company’s acquisition of Cubeler is not based on legitimate business interests; (11) there is no evidence Huayan ever owned the Heartbeat platform or that it transferred the asset to Huike; (12) the largest ASFC shareholder had his shares frozen due to court sanctions; and (13) the creation of ASFC itself was likely a related-party transaction. When the true details entered the market, the lawsuit claims that investors suffered damages.

 

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/tnt or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Tenet you have until January 18, 2022, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

Contacts

Bronstein, Gewirtz & Grossman, LLC

Peretz Bronstein or Yael Nathanson

212-697-6484 | info@bgandg.com

Categories
Business Technology

Hayward strengthens its position in pool technology with recent acquisitions

Water Works Technologies Group, LLC – Water Feature and LED Lighting Business

SmartPower™ – Proprietary, Communication and LED Lighting Control Technology

SmartValve – IP Rich Valve/Fluid Control Technology for SmartPad™ Installation

 

BERKELEY HEIGHTS, N.J. — (BUSINESS WIRE) — Hayward Holdings, Inc. (NYSE: HAYW) (“Hayward”), global designer, manufacturer and marketer of a broad portfolio of pool equipment and technology, today announced the acquisition of Water Works Technologies Group, LLC (“Water Works”), a manufacturer of water features including water bowls and sheer waterfalls with LED lighting options.

This acquisition follows the recent acquisitions of two internet of things (IoT) technology businesses, SmartPower and SmartValve. Together, these acquisitions further extend Hayward’s leading position in smart, IoT-enabled technologies designed to bring greater control and ambiance to the pool while simplifying ease of use and cost of ownership.

 

Water Works manufactures a variety of water bowls in both resin and glass in an assortment of colors and finishes as well as Sheer Waterfalls. These high-end water features all have color illumination through LED lighting options which allow Smart app coordination with other pool, spa or landscape lighting colors and shows.

 

SmartPower is a breakthrough LED Lighting controller leveraging a proprietary communication protocol which makes installing and control of multiple lighting zones in the pool, spa, water features or landscape simple to configure and use. Custom lighting effects and shows are easy to program, coordinating multiple water features with the pool, spa, and even landscape lights to effortlessly transform the entire backyard. The technology also presents a compelling financial benefit. This unique product architecture delivers all the control with less than 50% of the cost of using currently available technology. SmartPower is the solution for standalone cloud-based control for any new or existing pool or as part of the OmniLogic® ecosystem, Hayward’s leading pool and spa automation platform.

 

SmartValve is an active fluid management system for intelligent control of multiple, advanced water features in addition to delivering increased hydraulic energy efficiency for pool/spa design. SmartValve will operate autonomously as the central water distribution system with cloud-based control of other pool equipment via local control or app. As with SmartPower, the SmartValve technology will seamlessly integrate with the OmniLogic ecosystem. SmartValve will dramatically simplify equipment pad installation with a simple manifold design significantly lowering the amount of labor and equipment cost for the installer and the pool owner.

 

“These three businesses complement each other and further extend Hayward’s leading Smart technology solutions to increase the ambiance of the pool, spa and backyard. They are perfect examples of harnessing new technology to deliver sustainable, energy-efficient solutions to our space,” said Kevin Holleran, CEO of Hayward. “SmartPower and SmartValve are both easy to use and less costly to install, a real win-win for both the homeowner and trade professional. With OmniLogic and the coupling of our new line of innovative water features from Water Works, Hayward is leading the way with products transforming the pool and backyard environment. We are really excited to introduce these game-changing new product platforms to our consumers and trade partners.”

 

About Hayward Holdings, Inc.

Hayward Holdings, Inc. (NYSE:HAYW) is a leading global designer and manufacturer of pool equipment and technology all key to the SmartPad™ conversion strategy designed to provide a superior outdoor living experience. Hayward offers a full line of innovative, energy-efficient and sustainable residential and commercial pool equipment, including a complete line of advanced pumps, filters, heaters, automatic pool cleaners, LED lighting, internet of things (IoT) enabled controls, alternate sanitizers and water features.

 

This release contains forward-looking statements and information relating to the Company that are based on the beliefs of management as well as assumptions made by, and information currently available to management. When used in this release, words such as “may,” “will,” “should,” “could,” “intend,” “potential,” “continue,” “anticipate,” “believe,” “estimate,” “expect,” “plan,” “target,” “predict,” “project,” “seek” and similar expressions as they relate to us are intended to identify forward-looking statements. These statements reflect management’s current views with respect to future events, are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Further, certain forward-looking statements are based upon assumptions as to future events that may not prove to be accurate. Actual results or events could differ materially from the plans, intentions and expectations disclosed in forward-looking statements. Hayward has based these forward-looking statements largely on management’s current expectations and projections about future events and financial trends that management believes may affect Hayward’s business, financial condition and results of operations. Important factors that could affect Hayward’s future results and could cause those results or other outcomes to differ materially from those indicated in the forward-looking statements include the following: our ability to execute on our growth strategies and expansion opportunities; our ability to maintain favorable relationships with suppliers and manage disruptions to our global supply chain and the availability of raw materials; our relationships with and the performance of distributors, builders, buying groups, retailers and servicers who sell our products to pool owners; competition from national and global companies, as well as lower cost manufacturers; impacts on our business from the sensitivity of our business to seasonality and unfavorable economic and business conditions; our ability to identify emerging technological and other trends in our target end markets; our ability to develop, manufacture and effectively and profitably market and sell our new planned and future products; failure of markets to accept new product introductions and enhancements; the ability to successfully identify, finance, complete and integrate acquisitions; our ability to attract and retain senior management and other qualified personnel; regulatory changes and developments affecting our current and future products; volatility in currency exchange rates; our ability to service our existing indebtedness and obtain additional capital to finance operations and our growth opportunities; impacts on our business from political, regulatory, economic, trade, and other risks associated with operating foreign businesses; our ability to establish and maintain intellectual property protection for our products, as well as our ability to operate our business without infringing, misappropriating or otherwise violating the intellectual property rights of others; the impact of material cost and other inflation; the impact of changes in laws, regulations and administrative policy, including those that limit US tax benefits or impact trade agreements and tariffs; the outcome of litigation and governmental proceedings; impacts on our business from the COVID-19 pandemic; and other risks and uncertainties set forth under “Risk Factors” in the prospectus for Hayward’s initial public offering and in Hayward’s subsequent SEC filings.

 

The forward-looking statements in this presentation represent management’s views as of the date of this release. Unless required by United States federal securities laws, Hayward neither intends nor assumes any obligation to update these forward-looking statements for any reason after the date of this presentation to conform these statements to actual results or to changes in our expectations.

Contacts

Media Relations:
Tanya McNabb

tmcnabb@hayward.com

Investor Relations:
Hayward Investor Relations

908-288-9706

investor.relations@hayward.com

Categories
Business Technology

Brother to feature retail printing and labeling technology for today’s omnichannel retail climate at NRF 2022

NEW YORK — (BUSINESS WIRE) — #BarcodeLabel–Brother Mobile Solutions and Brother International Corporation will showcase omnichannel printing and labeling solutions designed to provide technology tools that serve retail customers when, where, and how they need it. Join Brother at NRF booth #6246, January 16–18, at the Javits Center in New York City.


The right technology at the right time

From apparel to grocery, health and beauty to department stores and beyond, NRF’s theme, “Accelerate,” emphasizes the need to build upon solutions implemented during the pandemic that customers have grown to expect.

 

“Retailers must move quickly to meet the customers where they are and provide a seamless experience – whether that buyer’s journey is online, in-store or a hybrid between the two. With today’s supply chain challenges, it’s important to collaborate with partners who can support your operations, and subsequently your customers, efficiently,” said Dave Crist, president of Brother Mobile Solutions.

 

Brother’s 2021 NRF lineup highlights:

  • The right technology at the right time: Brother offers a comprehensive array of mobile, desktop, office, and industrial labeling and printing solutions ideal for the entire retail operation – from a brick-and-mortar store to the corporate retail office and back office to warehouse.
  • NEW! The release of the RuggedJet RJ-3200 Series: Brother Mobile Solutions will unveil the new series built on the performance and durability of the RuggedJet series, adding new connectivity and usability features for even faster, more reliable on-the-go label printing with less downtime.
  • Omnichannel execution for the evolving retail landscape: Brother labeling solutions offer a consistent customer experience across all consumer touchpoints, including buying online, curbside pickup, and picking up or returning in-store.
  • Queue busting technology in a competitive market: The labor shortage has caused many retail headaches for customers. Brother will be showcasing mobile printing solutions that can help make retail floor employees as efficient as possible.
  • Full picture solutions: Brother specialists will demonstrate printing, scanning, and labeling solutions that enable on-demand printing, fast in-store ticketing, markdowns to BOPIS, return and shelf edge labeling, and warehouse barcode and inventory label printing.
  • Custom Integrations and workflows: Brother provides custom solutions to fit every business need, with custom partnerships on display, and spotlighting how franchisee organizations can streamline digital processes with custom UI and much more.

 

Brother is helping retailers close the gap between the online and in-store experience. Industry experts will be on hand to demonstrate the newest technology in barcode labeling and flexible point-of-sales and receipt printing. They’ll also show how custom workflow solutions can enable seamless and secure document printing and scanning.

 

“The retail environment has shifted in the past two years, and Brother remains an integral part to helping our retail partners thrive as the customer demands continue to evolve,” says Adam Brandt, Senior Director of Sales, Commercial Machines Division, Brother International. “We not only provide the hardware for retail partners to ensure customers have a positive experience in-store, curbside and beyond, but we also provide custom solutions to ensure our partners can thrive with solutions that truly solve a problem for their business versus a one-size-fits-some approach.”

 

Request a show site demo or learn more about what’s happening at booth #6246.

For more information about Brother’s complete retail solutions, visit Brother International Corporation and Brother Mobile Solutions.

 

About Brother International Corporation

Brother International Corporation has earned its reputation as a premier provider of home office and business products, home appliances for the sewing and crafting enthusiast as well as industrial solutions that revolutionize the way we live and work. Brother International Corporation is a wholly owned subsidiary of Brother Industries Ltd. With worldwide sales exceeding $6 billion, this global manufacturer was started more than 100 years ago. Bridgewater, New Jersey is the corporate headquarters for Brother in the Americas. It has fully integrated sales, marketing services, manufacturing, research and development capabilities located in the U.S. In addition to its headquarters, Brother has facilities in California, Illinois and Tennessee, as well as subsidiaries in Canada, Brazil, Chile, Argentina, Peru and Mexico. For more information, visit www.brother.com.

 

About Brother Mobile Solutions

Brother Mobile Solutions, Inc., a wholly-owned subsidiary of Brother International Corporation, provides innovative mobile and desktop printing and industrial labeling solutions to field workforces and mobile enterprises. Brother International Corporation and its subsidiaries employ over 1,100 people in the Americas. For more information about Brother Mobile Solutions and its products, call (800) 543-6144, or visit www.brothermobilesolutions.com.

Contacts

Brother Mobile Solutions

Mary Howard

mary.howard@brother.com
303.464.6707