Tag: Business

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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

Categories
Business Science

Rocket Pharmaceuticals highlights anticipated 2022 milestones across lentiviral and AAV gene therapy clinical programs

— Top-line data from pivotal LAD-I and Fanconi Anemia trials anticipated in Q2 and Q3, respectively —

— Danon Disease pediatric patient cohort data expected Q3 —

— In-house AAV GMP manufacturing initiation anticipated in Q2 —

— Danon Disease pivotal Phase 2 trial initiation planned for Q4 —

— PKD data from Phase 1 and pivotal Phase 2 trial initiation planned for Q4 —

 

CRANBURY, N.J. — (BUSINESS WIRE) — Rocket Pharmaceuticals, Inc. (NASDAQ: RCKT), a clinical-stage company advancing an integrated and sustainable pipeline of genetic therapies for rare childhood disorders, today shares expected milestones for 2022, which were discussed yesterday during the Company’s virtual presentation at the 40th Annual J.P. Morgan Healthcare Conference.

“The Rocket team together with our partners made significant progress across our pipeline of first-and best-in-class lentiviral and AAV gene therapies in 2021,” said Kinnari Patel, Pharm.D., MBA, President and Chief Operating Officer of Rocket Pharma. “We are excited to share our expected milestones for 2022 as we progress toward potential near-term U.S. and EU regulatory filings for our Leukocyte Adhesion Deficiency-I (LAD-I) and Fanconi Anemia programs as well as continue our strong progress across our pipeline. Notably, with the most recently treated patient now engrafting with neutrophil CD18 expression of 61% at three months, all nine severe LAD-I patients who have been treated with RP-L201 in our pivotal Phase 2 trial with at least three months of follow-up have engrafted with CD18 expression ranging from 26% to 87% of normal.”

 

Dr. Patel continued, “As our AAV-based gene therapy for Danon Disease advances in the clinic including anticipated data from our pediatric cohort in Q3, we continue to ready our in-house AAV manufacturing capabilities in our Cranbury, New Jersey facility to support commercial product. We are excited for the year ahead and look forward to continuing to leverage Rocket’s strong team and resources to drive our vision of seeking and delivering gene therapy cures for patients facing such rare and devastating diseases.”

 

Anticipated 2022 Milestones

RP-A501 for Danon Disease (AAV)

  • Report data from pediatric patient cohort of Phase 1 trial – Q3 2022
  • Initiate Phase 2 pivotal study activities – Q4 2022

RP-L102 for Fanconi Anemia (LVV)

  • Report top-line data from pivotal Phase 2 trial – Q3 2022

RP-L201 for Leukocyte Adhesion Deficiency-I (LVV)

  • Report top-line data from pivotal Phase 2 trial – Q2 2022

RP-L301 for Pyruvate Kinase Deficiency (LVV)

  • Report data from Phase 1 trial – Q4 2022
  • Initiate pivotal Phase 2 trial – Q4 2022

Manufacturing Facility in Cranbury, New Jersey

  • Achieve in-house AAV Good Manufacturing Practice (GMP) manufacturing – Q2 2022

 

About Rocket Pharmaceuticals, Inc.

Rocket Pharmaceuticals, Inc. (NASDAQ: RCKT) is advancing an integrated and sustainable pipeline of genetic therapies that correct the root cause of complex and rare childhood disorders. The Company’s platform-agnostic approach enables it to design the best therapy for each indication, creating potentially transformative options for patients afflicted with rare genetic diseases. Rocket’s clinical programs using lentiviral vector (LVV)-based gene therapy are for the treatment of Fanconi Anemia (FA), a difficult to treat genetic disease that leads to bone marrow failure and potentially cancer, Leukocyte Adhesion Deficiency-I (LAD-I), a severe pediatric genetic disorder that causes recurrent and life-threatening infections which are frequently fatal, and Pyruvate Kinase Deficiency (PKD), a rare, monogenic red blood cell disorder resulting in increased red cell destruction and mild to life-threatening anemia. Rocket’s first clinical program using adeno-associated virus (AAV)-based gene therapy is for Danon Disease, a devastating, pediatric heart failure condition. For more information about Rocket, please visit www.rocketpharma.com.

 

Rocket Cautionary Statement Regarding Forward-Looking Statements

Various statements in this release concerning Rocket’s future expectations, plans and prospects, including without limitation, Rocket’s expectations regarding its guidance for 2022 in light of COVID-19, the safety and effectiveness of product candidates that Rocket is developing to treat Fanconi Anemia (FA), Leukocyte Adhesion Deficiency-I (LAD-I), Pyruvate Kinase Deficiency (PKD), and Danon Disease, the expected timing and data readouts of Rocket’s ongoing and planned clinical trials, Rocket’s plans for the advancement of its Danon Disease program following the lifting of the FDA’s clinical hold and the safety, effectiveness and timing of related pre-clinical studies and clinical trials, may constitute forward-looking statements for the purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995 and other federal securities laws and are subject to substantial risks, uncertainties and assumptions. You should not place reliance on these forward-looking statements, which often include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “will give,” “estimate,” “seek,” “will,” “may,” “suggest” or similar terms, variations of such terms or the negative of those terms. Although Rocket believes that the expectations reflected in the forward-looking statements are reasonable, Rocket cannot guarantee such outcomes. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including, without limitation, Rocket’s ability to monitor the impact of COVID-19 on its business operations and take steps to ensure the safety of patients, families and employees, the interest from patients and families for participation in each of Rocket’s ongoing trials, our expectations regarding the delays and impact of COVID-19 on clinical sites, patient enrollment, trial timelines and data readouts, our expectations regarding our drug supply for our ongoing and anticipated trials, actions of regulatory agencies, which may affect the initiation, timing and progress of pre-clinical studies and clinical trials of its product candidates, Rocket’s dependence on third parties for development, manufacture, marketing, sales and distribution of product candidates, the outcome of litigation, and unexpected expenditures, as well as those risks more fully discussed in the section entitled “Risk Factors” in Rocket’s Annual Report on Form 10-K for the year ended December 31, 2020, filed March 1, 2021 with the SEC. Accordingly, you should not place undue reliance on these forward-looking statements. All such statements speak only as of the date made, and Rocket undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts

Media

Kevin Giordano

Director, Corporate Communications

kgiordano@rocketpharma.com

Investors

Mayur Kasetty, M.D., M.B.A.

Director, Business Development & Operations

investors@rocketpharma.com

Categories
Business Technology

NICE Actimize ActOne awarded inaugural ‘Best Case Management Solution’ honors by the Canadian RegTech Association

The award highlights NICE Actimize ActOne Case Management solution’s innovation and customer service in a very competitive field

 

HOBOKEN, N.J. — (BUSINESS WIRE) — #NICE—NICE Actimize, a NICE (Nasdaq: NICE) business, was named the category winner for “Best Case Management Solution” in the inaugural Canadian RegTech Association (CRTA) awards competition announced recently by the CRTA’s Board of Directors in partnership with Ernst & Young (EY) Canada. The CRTA, a non-profit association dedicated to collaboration to solve regulatory challenges, announced the award as part of its recent event, “The Innovation Game: Adopting RegTech in a Digital Age.”

NICE Actimize’s ActOne alert and case management system is purpose-built for financial crime and compliance alert and case investigations. The system is an open, scalable development platform with integration tools and low-code automation to build enterprise workflow apps that are agnostic to source analytics and other systems. ActOne has the flexibility to support other use cases and the extensibility to build on top of and integrate with other types of solutions.

 

“The number of high-quality nominations that were received for this year’s inaugural competition speaks volumes to the vibrancy of the RegTech ecosystem that exists in Canada. Our esteemed panel of industry judges were pleased to select NICE Actimize as the winner in this year’s ‘Best Case Management Solution’ award category,” said Donna Bales, President, Canadian RegTech Association. “The award highlights NICE Actimize ActOne Case Management solution’s innovation and customer service in a very competitive field.”

 

“NICE Actimize’s award-winning case management system provides financial institutions with centralized control over financial crime applications and enterprise-wide intelligence,” said Craig Costigan, CEO, NICE Actimize. “We thank both our Canadian customers and the Canadian RegTech Association for honoring our innovation and customer service in a highly competitive category.”

 

NICE Actimize’s global customer base ranges from top tier enterprise financial institutions to regtech firms and neo banks.

 

The Canadian Regulatory Technology Association

The CRTA is a not-for-profit organization focused on solving regulatory challenges through collaborative efforts among key RegTech stakeholders: regulated entities, technology vendors, regulatory bodies, government, and professional service providers. The goal is to facilitate dialogue, raise standards, and promote growth and innovation within the Canadian RegTech ecosystem. The organization endeavors to solve regulatory challenges through collaborative discussion and engagement in proof-of-concept initiatives. For more information, please see the CRTA website: www.canadianregtech.ca.

 

About NICE Actimize

NICE Actimize is the largest and broadest provider of financial crime, risk and compliance solutions for regional and global financial institutions, as well as government regulators. Consistently ranked as number one in the space, NICE Actimize experts apply innovative technology to protect institutions and safeguard consumers’ and investors’ assets by identifying financial crime, preventing fraud and providing regulatory compliance. The company provides real-time, cross-channel fraud prevention, anti-money laundering detection, and trading surveillance solutions that address such concerns as payment fraud, cybercrime, sanctions monitoring, market abuse, customer due diligence and insider trading. Find us at www.niceactimize.com, @NICE_Actimize or Nasdaq: NICE.

 

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. Costigan, 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:

Cindy Morgan-Olson, +1 646 408 5896, ET, cindy.morgan-olson@niceactimize.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

Sole Source Capital portfolio company Peak Technologies acquires Avalon Integration

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 12th 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

Categories
Business Culture

CompoSecure to present at the 24th Annual Needham Virtual Growth Conference

SOMERSET, N.J.–(BUSINESS WIRE)–CompoSecure, Inc. (NASDAQ: CMPO) (“CompoSecure”), a leading provider of premium financial payment cards and an emergent provider of cryptocurrency storage and security solutions, today announced it will present at the 24th Annual Needham Virtual Growth Conference.

 

President and Chief Executive Officer, Jon Wilk, will present on Friday, January 14, 2022 at 2:00 p.m. Eastern Time and it will be webcast live. The live audio webcast will be available on the Composecure Investor Relations website at https://ir.composecure.com/. After the event, an archive of the webcast will also be available for a limited time on the Composecure Investor Relations website.

 

About CompoSecure and Arculus

Founded in 2000, CompoSecure is a pioneer and category leader in premium payment cards and an emergent provider of cryptocurrency and digital asset storage and security solutions. The company focuses on serving the affluent customers of payment card issuers worldwide using proprietary production methods that meet the highest standards of quality and security. The company offers secure, innovative, and durable proprietary products that implement leading-edge engineering capabilities and security. CompoSecure’s mission is to increase clients’ brand equity in the marketplace by offering products and solutions which differentiate the brands they represent, thus elevating cardholder experience. For more information, please visit www.composecure.com. ArculusTM was created with the mission to promote cryptocurrency adoption by making it safe, simple and secure for the average person to buy, swap and store cryptocurrency. With a strong background in security hardware and financial payments, the ArculusTM solution was developed to allow people to use a familiar payment card form factor to manage their cryptocurrency. For more information, please visit www.getarculus.com.

Contacts

CompoSecure Media:

Wes Robinson

626-201-2928

wrobinson@olmsteadwilliams.com

CompoSecure Investor:

Marc Griffin

ICR for CompoSecure

646-277-1290

CompoSecure-IR@icrinc.com

Categories
Business

AM Best affirms credit ratings of Hong Leong Insurance (Asia) Limited

HONG KONG — (BUSINESS WIRE) — #insurance—AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Hong Leong Insurance (Asia) Limited (HLIA) (Hong Kong). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect HLIA’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk management.

 

HLIA’s balance sheet strength is underpinned by its risk-adjusted capitalisation at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR). The assessment also reflects HLIA’s low underwriting leverage and a reinsurance programme of good quality. Offsetting factors include the company’s modest capital size, some concentration risk in a real estate and moderate reinsurance dependency.

 

HLIA’s strong operating performance is evidenced by positive underwriting results, with a five-year average net combined ratio of approximately 80% and a five-year average return on equity of 8.7%. The underwriting profitability was affected negatively by the COVID-19 pandemic due to less travel business, but the net combined ratio still outperformed the market. Acquisition expenses may increase in the future as the company expands its distribution channels, diluting the proportion of direct channel, but the company expects its overall underwriting profit to increase as the insurance portfolio grows. The company’s unrealized losses from investments reduced the overall net profit in recent years.

 

HLIA maintains a small market presence in Hong Kong’s general insurance market. While the company focuses on personal lines, it is expanding its commercial lines business to offset the drop in premium from travel insurance amid COVID-19. In regard to distribution, HLIA continues to utilise its online platform and direct channel to source new personal lines business and cross-sell with low acquisition expense. The company also plans to expand its distribution channels by cooperating with some intermediaries.

 

The company’s risk profile shows moderate business concentration risk given that it is a local insurer in a small market and has some asset concentration. Nevertheless, AM Best considers the company’s risk management capabilities to be aligned appropriately with its risk profile, supported mainly by the company’s prudent underwriting guidelines and robust reinsurance programme.

 

Negative rating actions could occur if there is significant deterioration in HLIA’s operating performance; for example, due to adverse investment losses or a diminished underwriting margin. Negative rating actions also could occur if there is significant deterioration in the company’s risk-adjusted capitalisation. A deterioration in the credit profile of HLIA’s parent companies, Hong Leong Financial Group Berhad and Hong Leong Company (Malaysia) Berhad also may impose a negative impact on HLIA’s ratings.

 

Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.

 

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 specialising 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

Ken Lau
Financial Analyst
+852 2827 3426
ken.lau@ambest.com

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

James Chan
Associate Director
+852 2827 3418
james.chan@ambest.com

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