NICE Actimize, a NICE (Nasdaq: NICE) business, and its cloud and AI-based AML Essentials solutions, has been chosen by the fintech company KOHO Financial, Inc., a Toronto-based provider of online financial services, to support its innovative digital platform and further accelerate its growth in the market. Utilizing NICE Actimize’s AML Essentials, KOHO will also address key guidelines as proposed by The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). KOHO has partnered with Peoples Trust Bank to offer customers a secure no-fee spending account, usable worldwide, featuring instant cashback, to simplify their personal finances.

KOHO will expand its financial crime operations with the NICE Actimize AML Essentials solutions including Suspicious Activity Monitoring (SAM) and CDD/KYC capabilities. Built upon NICE Actimize’s proven, end-to-end anti-money laundering platform, and leveraging the same power and experience as NICE Actimize’s enterprise solutions, AML Essentials provides rapid cloud deployment and reduces overhead to make compliance easier and at a lower total cost of ownership. KOHO will use Essentials Suspicious Activity Monitoring to monitor customer transactions, meet regulatory requirements and file reports, while relying on Essentials Customer Due Diligence for KYC/CDD and customer risk scoring, among many functions.

KOHO will also use NICE Actimize’s Essentials ActOne Extend risk case manager to ingest fraud alerts and automate financial crime investigations to improve the overall productivity of the investigation teams.

“KOHO Financial has taken a forward-thinking approach to managing financial services, and we wanted a compliance partner who understood innovation in digital financial services initiatives,” said Michael Fox, Vice President, Risk & Compliance, KOHO Financial, Inc. “With NICE Actimize’s legacy and experience in anti-money laundering and financial crime, it is clearly the preferred choice for KOHO to modernize its AML program.”

“NICE Actimize’s cloud and AI-based capabilities will deliver exceptional performance in support of KOHO’s digital operation. As we continue to expand our presence in the Canadian banking and fintech space, NICE Actimize is proud to support KOHO’s anti-money laundering initiatives with our Essentials solutions, ensuring compliance and providing a foundation for growth,” said Craig Costigan, CEO, NICE Actimize.

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Kasasa®, the only financial technology partner committed to helping community banks and credit unions take back banking by equipping them with world-class financial products, announced today that it has achieved Amazon Web Services (AWS) Financial Services Competency Partner status. Kasasa is the fifth banking company in North America and the ninth banking company globally to receive the noteworthy designation.

The AWS Financial Services Competency Partners certification is a company-level accreditation that aims to manage risk, optimize operations, and extract insights from data – all while providing cloud-based offerings that help accelerate innovation for banks, insurance companies, capital market firms, and payment processors of all sizes. AWS Partner offerings empower users to launch new products faster while meeting the constantly changing regulatory, business, and customer requirements.

“Safety and privacy are always at the forefront of our minds, and we’re deeply committed to securing our customers’ most cherished asset: their data,” said Hung Lee, Chief Information Security Officer of Kasasa who spearheaded the 10-month accreditation journey. “By promising to protect our customers’ data as if it were our own, we strive to earn and preserve the trust of community financial institutions nationwide.”

The certification attests to Kasasa’s alignment with the AWS Well-Architected Framework, which is built on five pillars: operational excellence, security, reliability, performance efficiency, and cost optimization.

“The core principles of AWS have natural synergies with Kasasa’s mission to help community financial institutions succeed in a competitive industry,” said Pradeep Ittycheria, Chief Technology Officer of Kasasa. “We are honored to receive this accreditation, and consider it a testament to our dedication to exceptional customer service and security. I want to thank the 18-person Kasasa team for making it possible.”

Kasasa is committed to providing community banks and credit unions with the best products and digital experiences for account holders. With a mission to help keep money local, Kasasa partners exclusively with community financial institutions — the only place consumers can find their innovative banking solutions. Kasasa serves 900 community financial institutions nationwide, representing 3 million consumer bank accounts across 4,000 branches in all 50 states.

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SKUx, an innovative fintech company redefining the way consumer offers are delivered, redeemed, settled and reported, today announced the appointment of Jack Lord, a highly accomplished growth leader, as senior vice president of sales. Lord, who comes to SKUx from Blackhawk Network, has an exceptional track record of driving growth and business relationships for innovative payments and marketing services companies serving consumer goods and retail companies.

Lord joins SKUx as the company pioneers a new fintech category of payment-based offers, called SKUPay. SKUPay is set to replace today’s outdated world and process of coupons, rebates, promotional offers, and settlement, solving long-term industry challenges for retailers, consumer brands, and marketing agencies and unlocking billions of dollars in value currently being lost to fraud and inefficiency. SKUx delivers a powerful end-to-end payments-based system across offer delivery, redemption, settlement and reporting that requires no special integration by retailers or brands.

“Jack is the right executive to help us move the industry beyond an old archaic system to a new world of payment-based offers and settlement while he drives our revenue and business development efforts forward,” Jim Sampey, SKUx Co-Founder and CEO. “SKUx and the SKUPay category deliver breakthrough benefits for consumers, retailers and brand marketers alike. We’re excited that Jack is joining the SKUx team.”

Lord held several senior leadership roles at Blackhawk, including group vice president of sales and services. He managed a sales, services and channel organization of 300 people and helped grow Blackhawk sales to $11.5 billion, achieving a cumulative annual growth rate of plus-25 percent.  SKUx and Blackhawk are strategic partners. Previously, Lord served as senior vice president of sales for Advantage Sales and Marketing, a global leader in outsourced sales and marketing solutions to consumer goods companies and retailers.

“SKUx is uniquely positioned to transform and turbocharge offers and settlement for the consumer products and retail industries,” said Lord. “By virtually eliminating fraud and turning settlements into a daily occurrence for retailers, SKUPay creates massive value for our industry and its consumers. Brands will gain rapid insights into their promotional campaigns and unmatched flexibility and reach into the retail channels they serve and the consumers they engage.  I’m excited to be part of this payments transformation for our industry.”

The “Powered by SKUx” Difference:

SKUx-powered payment-based offers reinvent and simplify the world of consumer offers to bring previously unachievable consumer engagement, trust, transparency, immediacy and control to consumer brands, marketers and retailers. SKUPay works like currency, not an IOU like coupons. Key advantages include:

• • Powers virtually any channel of consumer engagement—anywhere you choose to deliver your offer, from store shelves, email, social media, mobile, on-pack, display media, and more.
  • Eliminates fraud and misredemption—replaces coupons, rebates, and promotional offers with trusted single-use, serialized offers that can be targeted down to the product SKU or UPC and automatically redeemed and processed without time-consuming and often inaccurate checkout clerk approvals.
  • Daily processing and settlement—retailers are reimbursed daily, not in weeks or months.
  • Unparalleled and immediate data visibility and control—marketers can optimize campaign results and stay within predetermined budgets.

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Lithic’s launch partners include payments API platform Wyre, which powers crypto-to-fiat conversion and a number of other money movement functions; digital wallet and funds movement provider Sila, a banking, digital wallet and ACH payments API; and Canopy, a modern loan servicing platform. Each of these partners provide critical functionality that helps clients bring new card products to market more quickly than building from scratch and more flexibly than using an all-in-one banking as a service platform.

Core to Lithic’s Program are client integration guides, co-created with partner technical teams, meant to provide integration recommendations based on common approaches, so product and engineering teams can decide whether speed or flexibility are more important for their project. Other program components include dedicated resources and updates from the Lithic partnerships team, technical resources to support integrations, and exclusive commercial terms.

“We built our enterprise API platform to be flexible and compatible with existing infrastructure to provide greater efficiency and ease of use to our customers and developers,” said Bo Jiang, CEO and Founder of Lithic. “By creating our partner program, we will be solving more common use cases for our customers without limiting what’s possible for their teams to develop in the way that all-in-one platforms silo teams into.”

“Joining Lithic’s Integration Partner Program is a great honor for Wyre. Thanks to this latest integration, Lithic clients can offer crypto-to-fiat spending services to their users via debit card. Partners should have no trouble issuing these cards, and users can finally spend their crypto while going about their day-to-day lives. Now we’re ever closer to achieving our goal of making cryptocurrencies more accessible than ever,” says Wyre CEO, Ioannis Giannaros.

“The Canopy + Lithic partnership has allowed us to focus on growth and cardholder acquisition from day 1 as opposed to ledgers, payments, and infrastructure,” said Zach Johnson, CEO of dash.fi (formerly FunnelDash), a vertical FinTech company serving digitally native businesses that spend millions on marketing with a charge card exclusively for ad spend. “As a result, we’ve seen record growth since we rolled out the charge card in September 2020.”

“Sila and Lithic share a focus on helping customers bring new products to market quickly,” said Shamir Karkal, co-founder and CEO, Sila Inc. “Rather than putting the burden on customers to figure out how to best use Lithic and Sila in concert, we did that work for them. Together, we created a guide detailing how customers can use our respective solutions alongside one ››another. We think that makes for a compelling combination of go-to-market speed, while preserving the ability to do custom work when needed.”

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An industry veteran with 21 years of experience across multiple segments including BFSI, Loyalty, and FMCG, Ramakant has demonstrable track-record to scale business growth, achieve goals, and drive profitability. He holds a Bachelor’s degree in Engineering from IIT Roorkee and an MBA degree from MDI, Gurgaon.

Most recently, Ramakant has worked with PAYBACK India in progressive leadership roles as Chief Marketing & Digital Officer and Head – Financial Services & e-Commerce Partnerships. In his last stint, he was responsible to drive adoption and growth of digital platforms to deliver strong business growth and superior customer experience. Prior to this, Ramakant has been associated with ICICI Bank in varied roles in the Payment & Cards division covering Credit, Debit, Prepaid & Commercial cards where he played a key role in driving product growth, strategic partnerships and customer engagement.

“Ramakant is a deeply experienced leader with a proven track record of working closely with customers to develop insights, solve business challenges, and create value. He will play a vital role in the evolution of our existing products, while also driving the development of innovative new features to fuel further growth,” said Anshuman Panwar, Co-Founder, Creditas Solutions.

“Creditas Solutions has redefined the debt collections experience by building a tech-oriented product that is non-intrusive and intuitive. I am excited to be joining at this moment in the Creditas’ journey and look forward to working with the team to further strengthen the products that are ground-breaking, rooted in innovation and are drivers of change for the collections industry,” said Khandelwal.

Ramakant’s appointment follows the recent appointment of Sriram Ramnarayan, former Thomson Reuters Senior Executive, for the position of Country Head – India and South East Asia Business, as Creditas continues to strengthen its senior leadership team.

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Staking: 

Staking is a great way to work with one’s cryptocurrency in Yearnyfi.Network. One could place it and enjoy premiums on top of the price valued holdings, instead of leaving the cryptocurrency on the cryptocurrency exchange account or wallet.

Benefits of staking with Yearnyfi.Network:

-Get a percentage of tokens to stake rewards.
-The return rate is measured by the percentage return per annum (APY). The rate of payments also varies by cryptocurrency and can vary from day to day, weekly, monthly, etc. Users can check their possible returns and rewards of payments with this calculator.
-The more wallets stack, the more secure the network is.
-Help secure the cryptocurrency network and the coins generally.
-The transaction charge is low in the staking process.

There are four ways in which people can participate: directly on the protocol, run masternodes, join master pools or stake services from third parties. Of the three, it only takes active participation to run a masternode and users can delegate someone to run for a commission as their masternode.

Simple and mixed interests are available. Users can reinvest the entire amount after the required holding period is over. They can continuously add their profit to the staking amount for compound interest and earn more. Users can also take interest from DeFi projects by delegating them to borrowers.

Liquidity Mining: 

Liquidity mining is a data-driven market approach based on the Community in which a token issuer or exchange can reward a miners’ pool for providing liquidity for a token.

The amount of user’s order.
The order spread. 
Duration of order maintenance on order book.

Upcoming Events:

Listing on PancakeSwap 17 September

Staking Live 24 September

Marketing and promotion

#BinanceSmartChain Contract address

0x91cb98f1b1954253f03f82579d683732bae6813f

Yearnyfi Progress since launch:

The project’s team has been working and delivering way ahead of its roadmap which can be found on the whitepaper with links provided at the end of the article. Some of its achievements are highlighted below:

-Top partnership with other projects

-Successful launch on BSC Chain

-Tier 4 Exchange successful listing

-Coinmarketcap listing

-Product update

-Deployment on BSC chain with Polynetwork Bridge functionality

-New updated white paper

-Partnership with other protocols

Conclusion

Yearnyfi through its continued research into the decentralized finance world and dedicated team will help to provide the defi platform that will redefine the whole decentralized finance concept giving power to its community members/protocol users at all time while being open to future proposals accordingly.

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“Being named in the IDC FinTech Rankings is a significant accomplishment, demonstrating a provider’s commitment to the success of its financial institution clients,” states Marc DeCastro, Research Director at IDC Financial Insights. “The IDC FinTech Rankings, now its 18^th year, is the global standard list of fintech providers to the industry, and we congratulate the 2021 winners.”

The Fortune 500-style ranking categorizes and evaluates the top global providers of financial technology based on calendar year revenues from financial institutions for hardware, software and/or services. These providers supply the technological backbone of the financial services industry.

Kasasa, committed to providing community banks and credit unions with the best products and digital experiences for accountholders, partners exclusively with community financial institutions across the country to help keep money local.

“Our mission at Kasasa is to support community banks and credit unions by equipping them with the technology and tools they need to effectively compete with megabanks. In doing so, we aim to debunk the widespread myth that community financial institutions don’t offer the latest, most cutting-edge technology,” states Gabe Krajicek, CEO of Kasasa. “We are honored to be named to the IDC FinTech Rankings for seven consecutive years, and see this as a testament to our commitment to our goal. As we continue to grow as a company, we look forward to further helping community financial institutions nationwide.”

Kasasa serves 900 community financial institutions nationwide, representing 3 million consumer bank accounts across almost 4,000 branches in all 50 states.

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The technology that drives Botkeeper is anything but simple, yet it’s built to appear simple to users. The software combines existing data from a company’s various sources like their accounting platform and bank accounts (and sales and marketing systems, among other connection points), applies rules, processes, and calculations to the data, then presents it in customizable and engaging reports that are nearly 100% accurate at all times. And because it’s all automated, deadlines aren’t missed or pushed back.

Botkeeper’s industry-leading AI-human hybrid bookkeeping solution, purpose-built for CPAs, enables accounting professionals to easily meet the demands of their clients’ ongoing bookkeeping needs and increasing demand for advisory, consulting, loans, and tax services while simultaneously increasing capacity to continue growing. Botkeeper incorporates collaborative machine learning models that work closely with the human accountants on the Botkeeper team to improve bookkeeping productivity and efficiency — consistently doubling or tripling productivity and increasing margins with near-100% accuracy, while also enabling CPAs to save 30% or more in operating expenses.

Steirman CPAs, a Botkeeper accounting partner, experienced exponential growth yielding an unrealistic client-to-accountant ratio, they turned to Botkeeper. By implementing Botkeeper’s bank reconciliation service for month-end close, Steirman has seen a 60-hour reduction in the time spent on their client’s bookkeeping on just their first 40 clients they have onboarded to Botkeeper. Now with Botkeeper as their partner, Steirman has eliminated the need to hire 3 additional accountants to support their long-term growth goals — a savings of $312K annually.

Additionally, according to data from Business Insider Intelligence, the aggregate potential cost savings for banks from AI applications is estimated at $447 billion by 2023.

Efficiencies evolve as clients data feeds into the Botkeeper automated bookkeeping platform and reconciliation is performed as the bots learn the data. In effect, time is saved throughout the process of file management, bank connections, automated categorization, bank reconciliations, financial reports and accounts payable. In turn, this brings more capacity to the firm to focus on other client needs. Clients receive 24/7 accounting and support as well as incredible insight into their financials with interactive dashboards and unlimited reporting.

“The accounting process, when connected to financial services, can be a complex and convoluted one which at times is downright tedious. Despite the frustrations inherent to the process, it has remained relatively unchanged for decades until now. By introducing AI and machine learning into the equation Botkeeper has single-handedly revolutionized how bookkeeping is done in the modern era,” relayed Enrico Palmerino, CEO of Botkeeper. “This breakthrough bookkeeping software allows firms to increase efficiency and accuracy and streamline the accounting process with financial services technology like never before.”

The standout companies were chosen by a panel of industry experts and analysts who reviewed a study of over 1,000 FinTech companies undertaken by FinTech Global, a data and research firm. The solution providers making the final list were recognized for their innovative use of technology to solve a significant industry problem, or to generate cost savings or efficiency improvements across the financial services value chain. A full list of the AIFinTech100 can be found at www.AIFinTech100.com. More detailed information about the companies is available to download for free on the website. #AIFinTech100

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The updated release reads:

MERIDIANLINK REPORTS SECOND QUARTER 2021 RESULTS

Revenue of $68.5 million grows 38% year-over-year

MeridianLink, Inc. (NYSE: MLNK), a cloud-based technology company that enables banks, credit unions, mortgage lenders, specialty lending providers, and consumer reporting agencies (CRAs) to streamline loan decision making and origination, and credit reporting and background screening workflows, today announced financial results for the second quarter ended June 30, 2021.

“MeridianLink delivered strong performance throughout our business in Q2,” said Nicolaas Vlok, chief executive officer of MeridianLink. “We have great momentum in the business as MeridianLink continues to help financial institutions and CRAs bring equity to lending, placing power in consumers’ hands through our lending and data verification platforms. I couldn’t be prouder of these results which showcase both our robust organic growth and best-in-class margins.”

“Given our leadership position in the market, our operational execution and the positive market dynamics, we are confident in our growth trajectory. As financial institutions respond to customer demands for more integrated digital banking, lending, and data verification experiences, we are ideally positioned to help new and existing customers meet evolving consumer needs through our dynamic platform. As a result of this, I am even more optimistic about the opportunity ahead of us.”

Financial Highlights:

• Revenue of $68.5 million, an increase of 38% year-over-year
• Operating profit of $19.2 million, or 28% of revenue
• Adjusted EBITDA of $33.4 million, or 49% of revenue
• Cash flow from operations of $21.2 million, and Free Cash Flow of $19.5 million

Initial Public Offering:

• MeridianLink completed its initial public offering on July 28, 2021, for net proceeds of $241.5 million, after deducting underwriters’ discounts
• A portion of the net proceeds were used to repay $75.0 million of borrowings outstanding under our first lien credit agreement and all borrowings outstanding under our second lien credit agreement of $125.0 million

Business and Operating Highlights:

• The 2021 Virtual User Forum took place in May and had a total of 80 sessions over three days. There were more than 2,100 unique attendees and over 13,000 cumulative attendees for all sessions to engage with and learn more about MeridianLink’s Lending offerings
• The organization completed the acquisition of Saylent on April 1st. Saylent contributes key data and marketing capabilities to the MeridianLink One platform, which will continue to be enhanced and integrated
• The company had another strong quarter of new logo wins, including key signings in specialty lending, continued bank and credit union expansion, and also several new customers for MerdianLink’s Data Verification Solutions

Business Outlook

Based on information as of today, September 7, 2021, the Company issues the following financial guidance.

Third Quarter Fiscal 2021:

• Revenue is expected to be in the range of $62.9 million to $63.5 million
• Adjusted EBITDA is expected to be in the range of $25.0 million to $25.6 million

Full Year 2021:

• Revenue is expected to be in the range of $256.7 million to $257.9 million
• Adjusted EBITDA is expected to be in the range of $112.3 million to $113.5 million

Conference Call Information

MeridianLink will hold a conference call to discuss our second quarter 2021 results today, September 7, 2021, at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time). The conference call can be accessed by dialing (877) 284-4396 from the United States and Canada or (873) 415-0298 internationally with conference ID 4917618. A live webcast of the conference call can be accessed from the investor relations page of MeridianLink ’s website at ir.meridianlink.com. An archived replay of the webcast will be available at the same website following the conclusion of the call. A telephonic replay will be available until approximately 8:59 p.m. Pacific Time (11:59 p.m. Eastern Time) on Tuesday, September 14, 2021, at (800) 585-8367 from the United States and Canada or (416) 621-4642 internationally with conference ID 4917618.

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Skeps’ platform provides a suite of technology solutions for both merchants and lenders. Merchants can offer financing options ranging from Pay-in-4 to longer-term loans with one simple integration. Banks can use Skeps as their answer to branded BNPL platforms or grow their unsecured lending portfolio.

Skeps’ patented technology simultaneously evaluates multiple financing options and provides credit at the start of the shopping experience, which drives conversions, while minimizing declines. Skeps has sourced and enabled its lenders to evaluate over one billion dollars’ worth of loan applications over the last eighteen months.

“We are excited to welcome Bertelsmann India Investments to the Skeps family for this latest round. With this latest fundraise, Skeps will increase our ability to serve clients by providing them the next generation in POS financing solutions that can be readily deployed on their own merchant site, physical stores, or any partner platform where their customers are shopping,” said Tushar Srivastava, CEO of Skeps.

Rohit Sood, Partner at Bertelsmann India Investments said, “Skeps is the most innovative point-of-sale financing solution we have come across over the past few years. We are super impressed by the vision and execution of Tushar, Mayank, and Prerit who formed exactly the right team to deliver such a disruptive product. We have tracked them for over a year and are delighted to partner with them in this journey.”

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