Category: Lifestyle

• The 6^th 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.

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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, 5^th Edition, page 6

Contacts

Media Contact
Kryssa Guntrum

press@visa.com

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

Transaction Marks Fifth Add-On Acquisition for Peak Technologies Since Being Acquired by Sole Source Capital

DALLAS — (BUSINESS WIRE) — Sole Source Capital LLC, an industrial-focused private equity firm, today announced that its portfolio company, Peak Technologies, a leading full life-cycle system integrator and provider of digital supply chain, retail and mobile workforce solutions, acquired Avalon Integration Inc (“Avalon”). Terms of the transaction were not disclosed.

The acquisition of Avalon marks Sole Source’s 12^th investment in the Automatic Identification & Data Capture (AIDC) industry. Sole Source has supported Peak Technologies in four prior add-on acquisitions including Optical Phusion, Inovity, Bar Code Direct and DBK Concepts.

Headquartered in Lebanon, NJ and founded in 2002, Avalon is a regionally focused system integrator and provider of digital supply chain, retail and mobile workforce solutions. Avalon sells primarily to enterprise-level customers in the healthcare, pharmaceutical, grocery, and consumer channels.

Peak Technologies provides industry-leading digital supply chain, retail and mobile workforce solutions to Fortune 500 customers, along with mid-market businesses, that enable them to become more efficient and responsive to their customers. The acquisition of Avalon provides Peak Technologies with significant cross-selling opportunities to blue-chip enterprise customers, strong exposure to attractive healthcare, pharmaceutical and grocery end markets, and additional geographic reach into the Northeast.

“We are excited to welcome the Avalon team. Avalon’s extensive technical capabilities drive a differentiated solutions offering to its customers, which is a perfect fit within the Peak Technologies portfolio,” said Tony Rivers, CEO, Peak Technologies.

“We are thrilled to be joining one of the strongest teams in the digital supply chain, retail, and mobile workforce solutions industry and are excited to bring the capabilities of Peak Technologies to our client base,” said Dan McCabe, CTO, Avalon Integration.

About Sole Source Capital

Founded in 2016 by David Fredston, Sole Source Capital is a private equity firm that thematically invests in fragmented, high-growth industrial subsectors. Sole Source seeks founder-owned businesses or corporate carve-outs that will benefit from the team’s operating and M&A capabilities. The Firm has a strong operating heritage that enables it to execute a buy and build strategy with significant downside protection. The Firm is headquartered in Dallas, Texas with offices in Santa Monica, California. For more information, please visit www.solesourcecapital.com or contact investor.relations@solesourcecapital.com.

About Peak Technologies

Headquartered in Columbia, Maryland, Peak Technologies is a leading full life-cycle system integrator of digital supply chain, retail and mobile workforce solutions. With over 35 years of supply chain, field mobility and retail services expertise, Peak Technologies has an insider’s perspective of the market; its origins, participants, and dynamic forces of change. With extensive application experience across industry segments, Peak Technologies is able to provide objective consultancy on business processes, software, hardware, as well as turn-key solutions for equipment repair, life cycle support, technology, vertical/application and business services. For more information, please visit www.peaktech.com.

About Avalon Integration Inc.

Headquartered in Lebanon, NJ and founded in 2002, Avalon is a regionally focused system integrator and provider of digital supply chain, retail and mobile workforce solutions. For more information, please visit www.avalonintegration.com.

Contacts

Media Contact:

Bill Mendel

Mendel Communications LLC

(212) 397-1030

bill@mendelcommunications.com

Sole Source Capital Contact:

Sumil Menon

Head of Investor Relations

Investor.relations@solesourcecapital.com

911 communications center for largest city in Michigan aims to improve productivity, staff performance and satisfaction, and elevate 911 service with assistance from NICE technology

HOBOKEN, N.J. — (BUSINESS WIRE) — #NICE—NICE (Nasdaq: NICE) today announced that the City of Detroit (Michigan) 911 communications center will be deploying NICE Inform Elite to digitally transform processes around tracking performance metrics, performing quality assurance reviews, and reconstructing incidents. Through this transformation, the 911 center expects to improve productivity, enhance staff performance and satisfaction and provide better service to citizens and communities. Detroit is the largest city in the state of Michigan and the 27^th most populous U.S. city with over 639,000 residents.

NICE Inform Elite features Intelligence Center dashboards with dozens of real-time metrics that offer instant visibility into what’s happening in the 911 center, and why. Metrics can be viewed on an overall 911 center level, or by individual telecommunicator, the agency served (police, fire, EMS) or incident priority or type. The solution automatically consolidates data from various 911 center systems into meaningful metrics which are presented on intuitive dashboards. Managers can drill through metrics to the underlying 911 incident recordings for context.

Art Thompson, Chief Information Officer, City of Detroit, said, “With over a million 911 calls received annually, our call volume is on par with the top 10 US cities. Citizens call us during their most vulnerable moments. We want to do everything we can to take 911 to the next level. NICE’s performance metric capabilities are going to help us hold ourselves accountable. We’re also looking to NICE’s solutions to help us better self-reflect and support our front-line telecommunicators, so they can be successful in their careers. We plan to use the dashboards to better understand the types of calls telecommunicators are taking, and their impact, so we can further enhance staff performance and satisfaction and the level of service we provide to citizens.”

Chris Wooten, Executive Vice President, NICE, said, “As a single system of record that sits at the center of the 911 data ecosystem, our NICE Inform Elite solution brings all incident-related data together from multiple systems to give 911 centers a single view of the truth and automate incident reconstructions and Quality Assurance. We give 911 managers the operational intelligence and free up the time they need to provide targeted training and coaching to telecommunicators, improve incident response and keep communities safer.”

The Detroit 911 center, which currently partners with an outside agency to randomly quality check calls, will also use NICE technology to take a more proactive approach to 911 Quality Assurance (QA). When metrics reveal calls where telecommunicators need additional assistance, managers will be able to assign these calls for QA review directly through the dashboard. Additionally, the center will focus more heavily on reviewing medical calls, thanks to NICE Inform Elite’s ability to use computer-aided dispatch (CAD) incident data to automatically pull specific types of high priority calls for quality assurance review.

When a full review of incidents is necessary, NICE Inform Elite can also streamline incident reconstruction. The solution automatically pulls 911, dispatch and first responder radio communications and associated CAD incident data into a timeline view, so managers are able to synchronously replay incidents exactly as they happened.

“We run pretty lean for a 911 center,” Thompson added. “Anywhere we can improve processes by having technology assist and cut down on man hours is monumental. With our current technology, we have to go into multiple systems to retrieve recordings and understand what happened. By migrating to NICE, we’ll be able to capture everything in one system for a complete picture, which will significantly cut down on time spent investigating incidents and help us answer questions faster. NICE Inform Elite checks all the boxes for us.”

To learn more about NICE Inform Elite:

• Visit the NICE website by clicking here.
• Email PSInfo@NICE.com for more information.

About NICE Public Safety

With over 3,000 customers and 30 years’ experience, NICE delivers end-to-end digital transformation, improved collaboration, efficiency and cost-savings to all types of public safety and criminal justice agencies, from emergency communications centers and police departments to prosecutors and courts. Our Evidencentral platform (which includes NICE Inform, NICE Investigate, NICE Justice and E-Request) features an ecosystem of integrated technologies that bring data together to improve incident response, accelerate investigations, streamline evidence sharing and disclosure, and keep communities and citizens safer.

About the Detroit 911 Center

Staffed by 30 highly trained licensed Public Safety Emergency Medical Technicians and Medical First Responders, the Detroit 911 Center operates 24 hours a day, 365 days of the year, serving 639,000 city residents within a 143 square mile area, and responding to over a million police, fire and emergency medical calls from the public annually. Detroit is the largest city in the midwestern state of Michigan and the 27^th most populous U.S. state. More info at https://detroitmi.gov/departments/detroit-fire-department/communications

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. Wooten, 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

OLDWICK, N.J. — (BUSINESS WIRE) — The January issue of Best’s Review looks at what worked for in-person events in 2021 and what organizers are doing to prepare for them in 2022 in the following articles:

• The photo essay, “We Meet Again: Insurers Return to the Public Space,” shows the Wholesale & Specialty Insurance Association’s in-person Annual Marketplace last November, which drew its second-highest turnout ever.
• In “Welcome Back: Conference Leaders See a Cautious Return to In-Person Events,” Risk and Insurance Management Society (RIMS) leaders discuss the success of the organization’s recent in-person event and what to expect for the upcoming RIMS annual conference in April. This article also includes a listing of popular insurance events for 2022.

Also included in the January issue:

• In “In Innovation, It’s Not the Most Obvious Changes That Make the Biggest Impacts,” Best’s Review spoke with industry leaders about the innovations that laid the groundwork for today’s advances.
• “Embedded Insurance Gaining Steam as Insurers Build Distribution Partnerships” examines the rise of embedded insurance and why insurers are building partnerships to expand this business market.
• Insurtech veteran Caribou Honig and Ilya Bodner, the founder of Bold Penguin, discuss insurtech strategy in “An Entrepreneur’s Story: Caribou Honig’s Questions for Ilya Bodner of Bold Penguin.”
• “Life Insurers Not Free of COVID-19 Yet, as Virus Impacts Younger Populations” looks at how a mix of investment gains and business diversification across segments could help ameliorate potential costs from the delta variant as it pushes up the number of pandemic-related deaths for working-age people in the United States.

Best’s Review is AM Best’s monthly insurance magazine, covering emerging insurance issues and trends and evaluating their impact on the marketplace. Full access to the complete content of Best’s Review is available Full access to the complete content of Best’s Review is available here.

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 Company, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Patricia Vowinkel
Executive Editor, Best’s Review^®
+1 908 439 2200, ext. 5540

patricia.vowinkel@ambest.com

This Brings The Popular Alternative to Car Ownership to Atlanta, Dallas, Houston and Charlotte

PHILADELPHIA — (BUSINESS WIRE) — GO, a first-of-its-kind car subscription startup, announced the addition of 4 new markets today. GO is now available in 8 major U.S. markets. These include Philadelphia, Northern New Jersey, Miami, Orlando, Atlanta, Dallas, Houston, and Charlotte. More markets will be announced mid-year.

Distinct from traditional auto lease and finance, GO’s model offers subscribers a simple and affordable alternative to car ownership.

“We’ve had tremendous demand for our offering and are pleased to bring GO to customers in these new cities,” said Michael Beauchamp, GO’s Founder and CEO.

Through the service, customers in available markets can order their car completely online in under 5 minutes and save up to 25% per month. There’s no down payment and no hidden fees. The entire process is handled virtually without stepping foot in a physical location. In most cases, cars are even delivered to the customer’s home at no charge.

GO is the first company to offer a car subscription service geared specifically toward daily drivers, unlike previous car subscriptions that focused on swapping vehicles and short-term use. With significant advantages over the typical car buying process, GO’s innovative model brings evolution to the industry and represents a new paradigm for car shopping.

“GO was created to streamline and simplify an antiquated process. Customers win thanks to technology and efficiency driving our unique business model,” said Beauchamp.

To learn more about GO, visit https://www.driveGO.com

Contacts

Company Name: GO

Contact Person: Michael Beauchamp

Phone Number: 855-827-2230

Website: www.driveGO.com

Manasquan Bank modernizes its digital banking offerings by expanding access for clients to buy, sell and hold cryptocurrencies

ALPHARETTA, Ga. — (BUSINESS WIRE) — Bakkt Holdings, Inc. (NYSE: BKKT), a trusted digital asset platform that enables consumers to buy, sell, send and spend a range of digital assets, today announced that Manasquan Bank, a NJ-based mutual community bank with total consolidated assets of $2.7 billion, will be participating in its early adopter program, which, when effective, will allow the bank’s retail clients to buy, sell and hold cryptocurrency through the bank’s mobile banking app.

Manasquan Bank will be making cryptocurrency access simple and approachable within the digital banking environment their clients know and trust, while ensuring the bank is participating in this expanding space with the opportunity to break into new audience segments. Bakkt’s modern digital asset platform allows banks to plug and play a crypto buy/sell/hold module which provides end clients with a seamless set up and quick access to multiple cryptocurrencies. Bakkt leverages a regulatory-first approach to safely and securely custody these assets.

“This is an incredible opportunity to provide Manasquan Bank clients with an entry point to adopt cryptocurrency as an additional asset option,” said Sheela Zemlin, Chief Revenue Officer, Bakkt. “It’s clear that cryptocurrency is the center of the Web3 economy, in which consumers can participate in new value creation and exchange with digital assets. Bakkt is proud to roll out new and innovative ways to this burgeoning economy, enabling a path to buy, sell and hold crypto as an extension of the consumer’s relationship with their trusted local bank.”

“We’re focused on driving growth and introducing new opportunities for our clients to participate in the digital economy,” said James Vaccaro, Chair, President and Chief Executive Officer of Manasquan Bank. “Our developing partnership with Bakkt to introduce these new offerings and features comes at an exciting time when consumers continue to seek out crypto assets as an option for the acquisition of a portfolio of cryptocurrencies even if it is in very small increments to start, and without having to leave their existing, trusted banking environment.”

Bakkt’s early adopter program is anticipated to launch in Q2 2022 and the bank’s participation is contingent upon the adoption by the bank’s core financial service provider.

About Bakkt:

Bakkt is a trusted digital asset platform that enables consumers to buy, sell, store and spend digital assets. Bakkt’s platform, now available through the Bakkt App and to partners, amplifies consumer spending and bolsters loyalty programs, adding value for all key stakeholders within the Bakkt payments and digital assets ecosystem. Launched in 2018, Bakkt is headquartered in Alpharetta, GA. For more information, visit: https://www.bakkt.com/ | Twitter @Bakkt | LinkedIn https://www.linkedin.com/company/bakkt/

Bakkt-C

Source: Bakkt Holdings, Inc.

About Manasquan Bank:

Manasquan Bank, a mutual community bank with consolidated assets of $2.7 billion, is headquartered in Wall Township, NJ. The Bank has been serving New Jersey residents since 1874 and continues to pioneer the future of banking with both traditional and digital solutions. The bank offers a full line of personal & business services, and operates fifteen branch locations throughout Middlesex, Monmouth & Ocean Counties. Manasquan Bank proudly supports community-focused, non-profit initiatives through the Manasquan Bank Charitable Foundation. For more information, visit www.manasquan.bank.

Contacts

Bakkt Media Contact
Lauren Post, VP – Communications

Lauren.Post@bakkt.com

Manasquan Bank Contacts
James Vaccaro – Chair, President and Chief Executive Officer of Manasquan Bank

jvaccaro@manasquan.bank

ST. LOUIS — (BUSINESS WIRE) — Thompson Street Capital Partners (TSCP), a private equity firm based in St. Louis, today announced its portfolio company Len The Plumber (LTP), a leading full-service residential home services company based in Baltimore, Maryland, with branches serving the Mid-Atlantic region, has completed the acquisition of Russo Bros. Russo Bros. is a full-service provider of residential HVAC, plumbing, electrical and indoor air quality services located in East Hanover, New Jersey. Founded in 1954, Russo Bros. serves three counties in northern New Jersey. Russo Bros.’ Co-Owner, Matt Russo, will stay on post-close and continue to run the business, while Co-Owner, Mark Russo, will support the business for a transitional period and subsequently retire. Terms of the transaction were not disclosed.

Jeff Cooper, CEO of LTP, said, “Russo Bros. was identified as a key partner to help us expand our residential services in the New Jersey market. Matt and Mark have grown a family business with a long history into a successful company with a great team, experienced technicians, and a high standard of customer service. We are looking forward to building on these efforts as we work together to drive growth into the future.”

Jeff Aiello, TSCP Managing Director, added, “We are very enthusiastic to partner with Russo Bros. Matt and Mark have built an impressive business which complements our Len The Plumber platform nicely in terms of both service lines and geographies. I look forward to seeing what these two businesses can accomplish together.”

About Thompson Street Capital Partners

Thompson Street Capital Partners (www.tscp.com) is a St. Louis-based private equity firm focused on investing in founder-led middle market businesses in the Life Sciences & Healthcare, Software & Technology, and Business and Consumer Services and Products sectors. TSCP partners with management teams to increase value by accelerating growth, both organically and via acquisitions.

Contacts

Caroline Collins

BackBay Communications

617-963-0065

caroline.collins@backbaycommunications.com