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Technology moves fast and slow. Weekly reports of developments in digital assets and cryptocurrencies this week show how fast new technologies can develop. At the same time, the news and announcements that caught my attention this week focus on good old application programming interfaces (APIs) gaining new uses to make the traditional world of institutional investing more efficient. APIs are not new. I first wrote about them in 2015 for Independent Banker magazine. “The real power of API software lies in providing additional services for customers and data to customers. The newest use of APIs is to provide public access

The post API Technology Moves into Institutional Investments first appeared on FinTech Rising.

Penske Logistics was recently recognized with a North America Supplier award from Novelis, the world leader in aluminum rolling and recycling. As a leading provider of dedicated transportation to Novelis North America, Penske is an essential component of its closed-loop aluminum supply chain serving top automakers.

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The Novelis North America Supplier award was given to Penske Logistics for demonstrating an outstanding performance in overall logistics while receiving the best score from Novelis' key carriers throughout North America in 2020. This is Penske's second time receiving the North America Supplier award, accepting its first in 2019.

Penske Logistics executives receiving Supplier Excellence Award from Novelis

"Delivering performance and innovation is guided by a deep sense of responsibility at Penske," explained Jeff Jackson, executive vice president of operations for Penske Logistics. "With Novelis, we are committed to providing quality, reliability and a true partnership which resonates through the North America Supplier award."

Penske's dedicated trucking operation utilizes Novelis' closed loop recycling system and shuttles aluminum coils from Oswego, New York, to automotive stamping plants in Michigan. The aluminum scrap from the stamping process is then transported back to Oswego to be recycled and formed into new coils. This process runs 24 hours a day, 365 days a year – with a loaded Penske truck heading out on the road every 40 minutes.

"We are inspired by the work and passion Novelis has for a circular economy and are grateful to partner with them and receive the North American Supplier award for the second time," said Marc Althen, president of Penske Logistics. "Leading our success is our dedicated team of safe, professional drivers and well-trained staff. I would like to send my appreciation to that team for their focus and commitment to the network's infrastructure and procedures."

Novelis joins technology and strength innovation in the automotive industry. Due to fuel efficiency requirements, light weighting demands and the evolving mobility ecosystem, automakers enlist Novelis aluminum for sustainable solutions that enable the next generation of vehicles.

"At Novelis, our purpose is shaping a sustainable world together, and our supplier award winners demonstrate that commitment every day," said Tom Boney, executive vice president and president, Novelis North America. "We congratulate Penske Logistics on this accomplishment and look forward to an even more successful partnership in the years to come."

Novelis selects suppliers across 10 award categories each year that support its 16 manufacturing facilities throughout the United States and Canada.

Penske Logistics provides dedicated contract carriage services through its expansive network in North America with safe, professional drivers, and a modern truck fleet integrated with advanced safety systems, transportation management and real-time freight tracking systems. Penske Logistics handles deliveries for a variety of leading companies in industries including automotive, CPG, food, grocery, beverage, manufacturing, quick-service restaurants, healthcare, and convenience store chains among them. Penske is currently hiring truck drivers nationwide. Visit https://driver.penske.jobs/ for available positions.

By Tana Korpics

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