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[Syqe in The Times of Israel] Israeli medical cannabis inhaler gets Canada’s marketing nod

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London based Fintech Finastra Partners with Be | Shaping the Future to Offer Managed Services

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Finastra, a financial services software and Cloud-enabled solutions provider, has decided to extend its partnership with Be | Shaping the Future, a global group offering consulting, IT and digital engagement services to the financial services sector.

The partnership extension should see Be offering managed services – via its Germany-headquartered division Be | Shaping the Future GmbH – for Finastra’s treasury and capital markets software (Fusion Kondor and Fusion Risk) deployed in the Cloud across Germany, Austria, and Switzerland (DACH).

The partnership between Finastra and Be should result in growth in market share while providing greater value to new and existing clients. It also includes the launch of Finastra solutions in a Cloud-enabled environment,  along with flexible managed services.

Financial institutions may potentially be able to lower their operating costs by as much as 75% and adapt to market challenges a lot faster by reducing implementation and development lifecycles by around 50%.

Rüdiger Borsutzki, MD at Be | Shaping the Future GmbH, stated:

“Our team brings deep domain knowledge of the investment and commercial banking markets and a can-do attitude with a commitment that supports our clients’ pace and culture. We pride ourselves for our access to a superior network, expertise and experience aimed at driving collaboration and growth for the wider ecosystem. Our work with Finastra is well aligned with this vision and we’re looking forward to delivering on this evolution of our partnership.”

With a strong local presence – which spans the DACH region – and a client-centric approach, Be | Shaping the Future GmbH will offer 24/7 support in order to make sure financial service providers have the support they need while conducting business.

Denise Parker, SVP, Partners and Ecosystem at Finastra remarked:

“We are excited to extend our long-standing partnership with Be. We’ve worked together for many years and are confident that their successful track record in supporting our customers will continue. This move will help us to deliver our treasury and capital markets solutions across DACH quickly in the cloud, with 24/7 support on the ground.”

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Source: https://www.crowdfundinsider.com/2021/05/175155-london-based-fintech-finastra-partners-with-be-shaping-the-future-to-offer-managed-services/

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Artificial Intelligence

Machine Learning enabled Insig AI, which Serves Asset Managers, Lists on AIM London Stock Exchange

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Insig AI, an AI and machine learning firm serving the asset management sector, has officially introduced its services (May 10, 2021), after the company’s listing on the AIM London Stock Exchange.

Insig AI is a data science and machine learning (ML) solutions provider that offers various web-based apps, sophisticated analytical software, and advanced tech infrastructure so that machine learning algorithms become more accessible to investors.

The Insig AI product suite has been developed to streamline a fund manager’s data infrastructure and enhance their ML capabilities in order to provide actionable and measurable results.

Insig AI has created a range of “out of the box” products that enable investors by allowing them to interact with, and experience their data in a manner they’ve never done before.

The products include:

  • Insig Portfolio – a multi-asset data-science and ML platform developed to improve investment strategies and enable portfolio interrogation and performance attribution while offering actionable and explainable results.
  • Insig ESG – A special tool for creating and running a data-driven ESG investing strategy; offering credible, transparent and evidence-based scoring based on standard or bespoke methodologies.
  • Insig Data – A data transformation tool for cleaning, structuring and categorizing proprietary and third-party data to allow for ML and various other data analytics via Insig or customer apps.
  • Insig Docs – A microservice app that “intelligently” extracts, tags and stores document-based and unstructured data using text extraction and elastic database tech.
  • Insig Exceleton – A tool that converts complex Excel spreadsheets into Python code, thus supporting a fast transition to a modern, ML and data analytics-powered strategy.

The Admission Highlights are as follows:

  • Managed to acquire £6.1 million (before accounting for expenses) through a “placing of 9,172,375 new ordinary shares at 67 pence per share, a 14 percent. premium to the closing share price of the Company of 59 pence per share on 2 September 2020, being the last business day before the Company’s ordinary shares were suspended from trading.”
  • Customer results reportedly show how beneficial or useful Insig AI’s products and services are. One customer’s fund managed to outperform the MSCI World benchmark by as much as 30 percentage points, meanwhile, another has reported a 25% reduction in operational costs.

Previously doing business as Insight Capital, Insig AI’s tech stack has been developed by a multi-disciplined and diverse group of data scientists, consultants, and fund managers.

The firm is being led by Executive Chairperson Matthew Farnum-Schneider, and CEO Steven Cracknell.

Insight Capital was established by Steve Cracknell and CTO Warren Pearson. They previously worked at Goldman Sachs during the 2000’s and then also in 2013 when they led an ML firm in Silicon Valley.

After coming back to London in 2017, they launched Insight to implement various products for fund managers.

Steve Cracknell, CEO at Insig AI Plc, remarked:

“Insig AI will allow investment professionals to keep up with the benefits of modern technology and turbocharge their data science and machine learning capabilities. A core feature of our products is that they are not ‘black boxes’. All outputs are both explainable and transparent – allowing portfolio managers to dig down into the results and methodologies at every step. This approach enables clients to confidently transition to a data-centric business model, advance and scale their analytical potential and gain value, speed and strategic leverage. As we grow and launch future AI and machine learning products, we will continue to give asset managers the edge needed to beat markets and competitors.”

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Source: https://www.crowdfundinsider.com/2021/05/175157-machine-learning-enabled-insig-ai-which-serves-asset-managers-lists-on-aim-london-stock-exchange/

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Private Securities Marketplace Forge Global Receives FINRA Approval to Operate as Single Broker Dealer

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Forge Global, a multinational private securities marketplace, has revealed that it has acquired the Financial Industry Regulatory Authority’s (FINRA) approval to offer services as a single broker dealer with SharesPost after a merger last year.

Forge Global has also finalized an oversubscribed investment round of over $150 million in new capital.

Total investments secured to date, by Forge Global, have now surpassed $250 million with this most recent round including existing investor Deutsche Börse and new investors Temasek, Wells Fargo Strategic Capital, LUN Partners Group, True Global Ventures and several others.

Since its launch, Forge has managed to clear over $9 billion in transactions in almost 400 privately-held firms.

In the months since its SharesPost acquisition, the firm reported (what it claims to be) three straight record-breaking quarters including Q1 2021 when Forge Global settled 1400 transactions valued at over $730 million.

Forge plans to to use the additional capital to further expand its business and product offerings in the United States and other markets as well.

Jane Atherton, MD, Investment at Temasek International and Paul Hilgers, MD at Deutsche Börse’s cash market division, will be taking a seat on Forge’s board of directors.

Forge Global Chief Executive Kelly Rodriques remarked:

“With the momentum from the SharesPost acquisition and the support and backing of strategic investors including private market investing pioneer True Global Ventures, which first invested in SharesPost in 2010, we are in an excellent position to continue to build world-class solutions that bring data, technology and liquidity at scale to the private markets.”

Christoph Hansmeyer, Head of Group Strategy & M&A at Deutsche Börse, remarked:

“The importance of private markets is growing – for companies and investors alike. Investing in Forge pays testament to our commitment to help companies access liquidity both publicly and privately, and allows global investors to participate in the wealth created in both the public and private markets.”

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Source: https://www.crowdfundinsider.com/2021/05/175161-private-securities-marketplace-forge-global-receives-finra-approval-to-operate-as-single-broker-dealer/

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EML Payments Now Supports Fupay’s Cash Flow Management and Millennial Credit Product for European Markets

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EML Payments Ltd (ASX: EML) (S&P/ASX 200) reports that it remains focused on its evolution as a diversified payments and digital banking enabler.

EML supports Fupay’s cash flow management and Millennial credit product (based in Australia). EML has now decided to transition to the next level and has teamed up with Fupay in order to take their tech stacks to European markets where they can offer businesses a white-label BNPLaaS solution.

Fupay’s Millennial-focused cash management solution leverages Open Banking data to offer smart fund-flow forecasting models, actionable insights, responsible BNPL “smoothing” and engaging spend benefits developed to assist consumers with making every penny count.

At the core of all this is Fupay’s robust spending and lending engine, which is well-placed to address the growing and fast-evolving consumer and regulatory demand for better lending options.

EML and Fupay say that they’re quite passionate about supporting a more responsible and economical BNPL experience with their capabilities:

  • Low touch e-identity verification and affordability assessment.
  • Personalized and flexible payment options based on each user’s cash flow.
  • Real-time virtual card and payment options available via a single app.
  • Rich AI-driven data insights with high impact visualization to make financial management easier for clients.

Michael Fredericks, MD and founder at Fupay, remarked:

”When we started Fupay, we predicted the need to address the challenges faced by Millennials meeting lifestyle costs, including a responsible millennial credit solution. We’ve focused on addressing the solution rather than focusing on selling a thin BNPL product as quickly as possible. There’s a clear need for BNPL organisations to do more to ensure their customers can afford to repay credit extended to them and be more accountable for their customers’ financial safety. We’ve seen a growing appetite from customers and regulatory bodies to see real responsibility, and Fupay is championing this mature approach to trending payments tech alongside EML.”

Sarah Bowles, Group Chief Product Officer at EML, stated:

”EML’s thrilled to expand our connection with Fupay beyond Australia into a true growth collaboration. Our exciting new venture brings together EML’s virtual card, A2A payments, the newest Open Banking products and Fupay’s best-in-class cash flow and millennial credit product to create a market-leading white-label offering. We’re impressed with Fupay’s groundbreaking platform and see the absolute need for this type of solution to enable merchants and enterprises to deliver an exceptional user experience without needing to become payment experts.”

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Source: https://www.crowdfundinsider.com/2021/05/175159-eml-payments-now-supports-fupays-cash-flow-management-and-millennial-credit-product-for-european-markets/

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