Archive for the ‘Banking/Financial Services’ Category

Carson Wen Appealed to Privy Council in UK on Employment Dispute with Chad C. Holm

TORTOLA, British Virgin Islands, Dec. 10, 2020 /PRNewswire-HISPANIC PR WIRE/ – Carson Wen, Chairman of Sancus Group (”Sancus”), today provides a further update on the ongoing employment dispute with a former employee of Financial Holdings (BVI) Limited (”FHL”), a Special Purpose Vehicle (”SPV”) that was established by Sancus in 2015.

Mr. Wen obtained Final Leave from Eastern Caribbean Court of Appeal on 16 September 2020 to appeal to the Judicial Committee of the Privy Council (often referred to as the Privy Council) in the United Kingdom on the dispute with Chad C. Holm regarding a shareholding matter.

Mr. Wen has already filed the Notice of Appeal with the Privy Council, the final court of appeal for the British Virgin Islands and other Eastern Caribbean jurisdictions on 10 November 2020.

Meanwhile, in October 2016 FHL filed proceedings against Chad Holm and two co-Defendants for breach of contract, breach of trust and breach of fiduciary duties in the Hong Kong High Court. These legal proceedings are continuing. Mr. Wen was the CEO of Financial Holdings (BVI) Limited, which employed Chad Holm as Deputy CEO in October 2015.

Previous Statement from Mr. Wen on above dispute can be found at: Update from Carson Wen Ka-Shuen on Employment Dispute with Chad C. Holm.

Notes to editors

Carson Wen is the Founder of Bank of Asia (BVI) Limited and BOA Financial Group Limited. He is also the Chairman of the Sancus Group of companies, which has investments in policy driven sectors such as new energy, logistics, finance and technology. He has practiced law for over 30 years at his own Hong Kong partnership and subsequently at leading global law firms. Mr. Wen has been named as a leading adviser on Chinese law, mergers & acquisitions and capital markets work in Who’s Who of the Law, Asia Pacific Legal 500, AsiaLaw Leading Lawyers, Chambers Asia and China’s Top 200. He is also named in the International Who’s Who and Who’s Who of the World.

Mr. Wen is a Justice of the Peace of Hong Kong and held various public service appointments in Mainland China and Hong Kong.

Mr. Wen is a member of the Executive Committee of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) Sustainable Business Network (ESBN) and former Chairman of its Task Force on Green Business. He is also a Director of the Pacific Basin Economic Council. He is also, inter alia, a Founding Director of the China M&A Association.

Mr. Wen was awarded the Bronze Bauhinia Star (BBS) by the Hong Kong Special Administrative Region Government for his contribution to economic ties between Hong Kong, Mainland China and the rest of the world.

Mr. Wen obtained his B.A. from Columbia University, where he majored in economics, and B.A. and M.A. from Balliol College, Oxford University, where he studied law and was Younger Prizeman in Law for 1976.

Sancus Group

Sancus Group, a private investment vehicle based in Hong Kong, was established in 2007. It has diverse business interests including new energy, logistics, finance and technology. The firm works closely with entrepreneurs, venture capitalists, private equity and other professional bodies to grasp global business opportunities. Leveraging its strong relationships in China and across the Asia Pacific, the firm see its role as catering to the needs of the developing world through focusing on necessities such as new energy, financial services and food.

Sancus Group is an indirect shareholder in Bank of Asia via Sancus Financial Holdings Limited. Bank of Asia (www.bankasia.com) is a fully digitalised global bank headquartered in the BVI.

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The Herzfeld Caribbean Basin Fund, Inc. Announces Quarterly Distribution and Results of 2020 Annual Stockholders Meeting

CaribPR Wire, MIAMI BEACH, Fla., Dec. 08, 2020: The Herzfeld Caribbean Basin Fund, Inc. (NASDAQ: CUBA) (the “Fund”) today announced its quarterly distribution pursuant to the Fund’s managed distribution policy (the “MDP”) and reported the results of its 2020 Annual Meeting of Stockholders.

Quarterly Distribution:

The Fund today declared the following distribution pursuant to the MDP:

Declaration Date Ex-Date Record Date Payment Date Per Share
12/08/2020 12/17/2020 12/18/2020 12/31/2020 $0.15525

The primary purpose of the MDP is to provide stockholders with a constant, but not guaranteed, fixed minimum rate of distribution each quarter (currently set at the annual rate of 15% of the Fund’s net asset value as determined on March 31, 2020 and payable in quarterly installments). The Fund cannot predict what effect, if any, the MDP will have on the market price of its shares or whether such market price will reflect a greater or lesser discount to net asset value as compared to prior to the adoption of the MDP. The quarterly distribution for the Fund’s second fiscal quarter constitutes the fifth consecutive quarterly distribution under the MDP.

The $0.15525 per share amount announced today reflects a distribution of 3.36% based upon the market price per share of the Fund and 2.64% based upon the net asset value per share of the Fund, each as of November 30, 2020. No conclusions should be drawn about the Fund’s investment performance from the amount of the Fund’s distributions or from the terms of the MDP.

Results of 2020 Annual Meeting:

In addition, the Fund held its annual stockholder meeting on November 12, 2020 (“Annual Meeting”). At the Annual Meeting, the Fund’s stockholders re-elected Mr. Thomas J. Herzfeld as Class III Director of the Fund, for a term of three years. Mr. Herzfeld is Chairman of the Fund’s Board of Directors (the “Board”) and President and Chairman of Thomas J. Herzfeld Advisors, Inc. (“THJA”), and a Portfolio Manager of the Fund.

Details regarding the Managed Distribution Policy:

Under the MDP, the Fund will distribute all available investment income to its stockholders, consistent with its investment objective and as required by the Internal Revenue Code of 1986, as amended (the “Code”). The amount distributed per share is subject to change at the discretion of the Board. If sufficient investment income is not available on a quarterly basis, the Fund will distribute long-term capital gains and/or return capital to its stockholders in order to maintain its managed distribution level. The Fund is currently not relying on any exemptive relief from Section 19(b) of the Investment Company Act of 1940, as amended (the “1940 Act”). The Fund may make additional distributions from time to time, including additional capital gain distributions at the end of the taxable year, if required to meet requirements imposed by the Code and/or the 1940 Act. Please note that for stockholders enrolled in the Fund’s Dividend Reinvestment Plan (“DRIP”), the distribution will be reinvested in additional shares of the Fund as described in the DRIP.

The Fund expects that distributions under the MDP will exceed investment income and available capital gains and thus expects that distributions under the MDP will likely include returns of capital for the foreseeable future. A return of capital may occur, for example, when some or all of a stockholder’s investment is paid back to the stockholder. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or ‘income.’ Any such returns of capital will decrease the Fund’s total assets and, therefore, could have the effect of increasing the Fund’s expense ratio. In addition, in order to maintain the level of distributions called for under its MDP, the Fund may have to sell portfolio securities at a less than opportune time.

The following table sets forth the estimated amounts of the current quarterly distribution and the cumulative distributions paid this fiscal year to date from the following sources: net investment income, net realized capital gains and return of capital. All amounts are expressed per common share.

Current Distribution % Breakdown of the Current Distribution Total Cumulative Distributions for the Fiscal Year to Date % Breakdown of the Total Cumulative
Distributions for the Fiscal Year to Date
Net Investment Income $0.00 0% $0.00 0%
Net Realized Short-Term Capital Gains $0.00 0% $0.00 0%
Net Realized Long-Term Capital Gains $0.00 0% $0.00 0%
Return of Capital $0.15525 100% $0.3105 100%
Total (per common share) $0.15525 100% $0.3105 100%

Average annual total return (in relation to NAV) for the 5-year period ending on November 30, 2020 3.09%
Annualized current distribution rate expressed as a percentage of NAV as of November 30, 2020 10.58%
Annualized current distribution rate expressed as a percentage of PRICE as of November 30, 2020 13.44%
Cumulative total return (in relation to NAV) for the fiscal year through November 30, 2020 27.32%
Cumulative fiscal year distributions as a percentage of NAV as of November 30, 2020 5.29%

No conclusions should be drawn about the Fund’s investment performance from the amount of the Fund’s distributions or from the terms of the MDP.

The amount distributed per share is subject to change at the discretion of the Board. The MDP is subject to ongoing review by the Board to determine whether it should be continued, modified or terminated. The Board may amend the terms of the MDP, suspend the MDP, or terminate the MDP at any time without prior notice to the Fund’s stockholders if it deems such actions to be in the best interest of the Fund or its stockholders. The amendment or termination of the MDP could have an adverse effect on the market price of the Fund’s shares.

With each distribution that does not consist solely of net investment income, the Fund will issue a notice to stockholders and an accompanying press release that will provide detailed information regarding the amount and composition of the distribution and other related information. The amounts and sources of distributions reported in the notice to stockholders are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund’s investment experience during its full fiscal year and may be subject to changes based on tax regulations. The Fund will send stockholders a Form 1099-DIV for the respective calendar year that will tell them how to report these distributions for federal income tax purposes. Stockholders should consult their tax advisor for proper tax treatment of the Fund’s distributions.

About Thomas J. Herzfeld Advisors, Inc.

TJHA, founded in 1984, is an SEC registered investment advisor, specializing in investment analysis and account management in closed-end funds. The Firm also specializes in investment in the Caribbean Basin. The HERZFELD/CUBA division of Thomas J. Herzfeld Advisors, Inc. serves as the investment advisor to The Herzfeld Caribbean Basin Fund, Inc. a publicly traded closed-end fund (NASDAQ: CUBA).

More information about the advisor can be found at www.herzfeld.com.

Past performance is no guarantee of future performance. An investment in the Fund is subject to certain risks, including market risk. In general, shares of closed-end funds often trade at a discount from their net asset value and at the time of sale may be trading on the exchange at a price which is more or less than the original purchase price or the net asset value. An investor should carefully consider the Fund’s investment objective, risks, charges and expenses. Please read the Fund’s disclosure documents before investing.

Forward-Looking Statements

This press release, and other statements that Thomas J. Herzfeld Advisors, Inc. (TJHA”) or the Fund may make, may contain forward looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to the Fund’s or TJHA’s future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as “trend,” “potential,” “opportunity,” “pipeline,” “believe,” “comfortable,” “expect,” “anticipate,” “current,” “intention,” “estimate,” “position,” “assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “may” or similar expressions. TJHA and the Fund caution that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and TJHA and the Fund assume no duty to and do not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance. With respect to the Fund, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes and volatility in political, economic or industry conditions, particularly with respect to Cuba and other Caribbean Basin countries, the interest rate environment, foreign exchange rates or financial and capital markets, which could result in changes in demand for the Fund or in the Fund’s net asset value; (2) the relative and absolute investment performance of the Fund and its investments; (3) the impact of increased competition; (4) the unfavorable resolution of any legal proceedings; (5) the extent and timing of any distributions or share repurchases; (6) the impact, extent and timing of technological changes; (7) the impact of legislative and regulatory actions and reforms, including the Dodd-Frank Wall Street Reform and Consumer Protection Act, and regulatory, supervisory or enforcement actions of government agencies relating to the Fund or TJHA, as applicable; (8) terrorist activities, international hostilities and natural disasters, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or TJHA or the Fund; (9) TJHA’s and the Fund’s ability to attract and retain highly talented professionals; (10) the impact of TJHA electing to provide support to its products from time to time; and (11) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions. Annual and Semi-Annual Reports and other regulatory filings of the Fund with the SEC are accessible on the SEC’s website at www.sec.gov and on TJHA’s website at www.herzfeld.com/cuba, and may discuss these or other factors that affect the Fund. The information contained on TJHA’s website is not a part of this press release.

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PaySett Corporation And Credicomer Announce New Real Time Payments (RTP) Initiative

The RTP solution PayExpedite® will allow the financial institution to extend its payment offerings to small and medium size businesses (SMBs) in El Salvador

ATLANTA and SAN SALVADOR, El Salvador, Dec. 1, 2020 /PRNewswire-HISPANIC PR WIRE/ – PaySett Corporation a global provider of ePayment solutions and Credicomer announced today the start of the implementation of a new RTP platform based on the ISO 20022 standard which will be part of the UNI RTP payments network in El Salvador.

www.paysett.com

SMBs are a major economic force in El Salvador. Over 90% of businesses in the country are SMBs and this sector generates over 60% of all jobs. For SMBs the speed of the payment is critical given the challenges they face in cash forecasting to insure proper liquidity for the smooth operations of their businesses.  Being able to receive payments 24 hours and on non-business days allows for better inventory controls and less needs for short term high interest loans to support their operations. It is also critical for SMBs to be able to pay their employees and vendors in a timely manner. Jesus Garcia VP of Business Development for PaySett explains “The flexibility of our PayExpedite® platform will allow Credicomer to expand their payments services to SMBs via multiple channels/devices. SMB’s working with Credicomer will be able to efficiently process their account receivables faster allowing for a more efficient use of their financial capital.  We see great potential in this new partnership with Credicomer in assisting SMB’s with The Way Money Moves®“.

“Since Credicomer came to the scene its main focus has been to empower the business segment with innovative technology tools to help organizations improve their operations, thus allowing the segment to meet the needs of its markets. To us it was critical to have the backing of a vendor with a great deal of experience in real time payments so that we can offer our client base an assortment of services in different platforms and digital channels that will allow them to perform inter-bank funds transfers, credit their own accounts as well as third party accounts efficiently and securely” mentioned Roger Avilez, Credicomer’s General Manager.

To find out how PaySett can help your organization improve its payments operations contact us at info@paysett.com

About PaySett Corporation

Atlanta, Georgia based PaySett Corporation is a global provider of payment software solutions. PaySett provides products/services to assist global financial entities to effectively manage the way money moves throughout their organizations and for their customers. PaySett’s two decades of experience moving payments through national and international payment networks has allowed for the development of advance payment software for assisting global banks with the capability to enhance their regional and global payment network processing capabilities.  Fifteen of the top twenty global banks process payments through PaySett software.

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Sovereign Pacific’s USD $500M Fund for The Caribbean Region

TORONTO, Dec. 1, 2020 /PRNewswire-HISPANIC PR WIRE/ – Sovereign Pacific Capital, an Asia wealth and asset management organization establishes a USD $500M Sovereign Pacific Fund, in partnership with Possibility Group, for sustainable investments in St. Kitts & Nevis and the Caribbean region.

Leslie Thomas and Umashanker Mishra

Sovereign Pacific Capital Ltd., www.sovereignpacific.co, a Singapore based wealth and asset management organization, partners with Possibility Group Ltd., a Caribbean value creation organization, to establish a USD $500M Sovereign Pacific Fund for sustainable investments in St. Kitts & Nevis and the Caribbean region. Sovereign Pacific Fund will be administered and managed by Possibility Capital Inc., www.possibility.capital, a Caribbean wealth and asset management organization.

Sovereign Pacific Capital’s focus includes Financial Services, Real Estate, Healthcare, Renewable Energy, Hotels & Resorts, Manufacturing and Agriculture.

Sovereign Pacific Capital’s Chairman, Umashanker Mishra, is an Indian Canadian, Philanthropist, Attorney and Solicitor and Investment Banker. He is the Founder & Chairman of Global Human Care Foundation, which is a private Canadian entity focused on charitable projects in Asia, Africa and the Caribbean region.

Possibility Group, www.possibility.capital, is a leading value creation organization in Asia, Caribbean and North America. Possibility creates, develops and manages sustainable business for stakeholders based on a life cycle engineered, performance driven, partnerships = possibilities system.

Possibility’s Caribbean business includes Real Estate Development, Renewable Energy, Asset Management, Possibility Capital, Investment Management, Sustainable Manufacturing, Proprietary Agriculture and Medical Healthcare.

Possibility Group’s President & CEO, Leslie Thomas, P. Eng., is a Caribbean Canadian, born in St. Kitts & Nevis, with a personal motivation to “give back” to Tabernacle, St. Kitts & Nevis and the Caribbean and to contribute in a “unique and lasting” way to the region through Possibility Group, Possibility Capital and Global Human Care Foundation.

“We are very excited about our partnership with Sovereign Pacific Capital; Chairman, Umashanker Mishra and Sovereign Pacific’s USD $500M Fund, which will help to address a significant Barrier to Growth (access to Financing) in the Caribbean Region”.

“Sustainable manufacturing in the Caribbean region and the production of high quality Caribbean steel rebar and also environmentally friendly Insulated Concrete Forms (ICF), will help property owners, developers, resorts, hotels, governments, institutions and asset managers to reduce capital cost, energy cost and construction time, and significantly increase buildings strength (hurricane proof). Further benefits include developing new skills, trades, occupations, employment for Women in the construction industry and our Suncastle Resorts, Condos & Commercial buildings will be constructed primarily by Caribbean Women (to the highest industry standards and without compromise in quality, safety, strength or finish), which will be innovative, revolutionary, unique and life changing”, said Mr. Thomas.

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Standard International Group Advises on $193M in Financing for St. Maarten’s Princess Juliana International Airport Terminal Reconstruction

Leading NYC-based boutique financial advisory brings three decades of experience providing innovative solutions for the Caribbean’s
most pressing infrastructure challenges

CaribPR Wire, New York, NY , Mon. November 30, 2020: Standard International Group, a leading New York City-based boutique financial advisory firm with a focus on revitalizing critical infrastructure projects across the U.S. Municipal, Caribbean, and West Africa, announced the completion of $193M in financing for St. Maarten’s Princess Juliana International Airport (PJIAE) Terminal Reconstruction. André Wright, Executive Vice President of Standard International Group, made the announcement.

On behalf of St. Maarten and Princess Juliana International Airport, Mr. Wright advised on the $50M loan from The European Investment Bank (EIB) and $50M grant from The World Bank, for a total of $100M in investment capital combined with $22M from the Government of St. Maarten in the form of liquidity support. Mr. Wright also ensured the project received a maximum insurance claim payout of $71M by introducing Willis Towers Watson to serve as insurance advisory services provider.

Princess Juliana International Airport is among the busiest airports in the North Eastern Caribbean, serving St. Maarten, St. Martin, Saba, St. Eustatius, Anguilla, and St Barthélemy and is the engine of St. Maarten’s economy, serving over 1.8 million passengers and employing over 1,000 local residents each year.

Following the destruction from hurricane Irma, Princess Juliana International Airport required massive remediation and reconstruction. Standard International Group provided end-to-end advisory, from creating the financial models, structuring the plan of finance, liaising with current bondholders and providing rating agency advisory, with a vision of success and prosperity for this important project. The new airport design will feature security improvements and is expected to surpass its past performance. Terminal reconstruction is slated to commence in 2021.

For over 20 years, Standard International Group has worked collaboratively with St. Maarten leadership to create transformative solutions that improve the bottom line and local economy. During this period, Standard International Group has provided financial advisory for a variety of infrastructure advancements, including the original Princess Juliana International Airport transaction (2004), several financial advisory and capital raises for the St. Maarten electricity company (GEBE), cruise port facilities, shopping and real estate development, and other projects. With a long history of working with government leadership and multiple investment teams, Standard International Group was able to successfully complete these projects and ensure positive results for all stakeholders.

“Investing in better infrastructure, solutions for climate change and the wellbeing of local communities is a major priority across the Caribbean, but it is often a difficult process,” stated Mr. Wright. “Standard International Group specializes in securing financing for complex infrastructure projects, creating win-win situations for investors as well as communities.”
About Standard International Group

Standard International Group is an independent financial advisory boutique that emphasizes service and innovation. Founded by André Wright in 1996, Standard International Group focuses on revitalizing critical infrastructure projects across the U.S. Municipal, Caribbean, and West Africa. Mr. Wright brings a decade of Wall Street experience and over thirty years of financial advisory and investment banking expertise to some of these regions’ most pressing infrastructure problems. Standard International Group does business where others either cannot or are not willing to go. The firm’s financial advisory services are built around comprehensive financial and credit analysis, local knowledge and industry expertise with a focus on creating transformative solutions and successful outcomes. Standard International Group creates and shares opportunities with global investors, delivers debt and equity capital to sovereign and municipal governments and corporations, all while emphasizing the importance of positive results on a local level. For more information, please visit www.sig-usa.com.—

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Mastercard Survey Shows Consumers Are Now Placing More Value on Family, Health and Mental Well-Being than Before COVID

The survey shows results about the essential aspects of Latin Americans’ lives after quarantine.
The new Mastercard campaign seeks to support consumers and small businesses as they return to a new normal.

CaribPR Wire, MIAMI, Oct. 08, 2020: Latin America and the Caribbean are entering a new reality: many countries are reopening their borders, governments are easing distance measures, and non-essential businesses are opening to the public again.

During this new phase, Mastercard announced its new regional campaign, “Lo Esencial” (The Essentials) to highlight those everyday moments that became essential after COVID-19. The campaign will provide consumers and local businesses with safe shopping experiences, tools, and education that help fulfill their everyday needs.

To develop this initiative, Mastercard conducted a survey in 13 countries throughout Latin America and the Caribbean including, Brazil, Mexico, Chile, Colombia, Argentina, and Peru, to better understand consumption and purchase habits after the period of confinement.

According to the “Lo Esencial” survey, 67% of Latin Americans surveyed said they have a greater appreciation for their family than before the quarantine. The survey also highlights an increased awareness of other essentials such as health (47%), taking personal time (41%), mental health (32%), and spending time with friends (26%).

As consumers engage in their return to a new normal, 6 out of 10 people (57%) plan to invest in the quality of their family experiences. Additionally, 46% of Latin Americans indicated their wish to support local businesses more in this return phase, than before the pandemic.

In terms of payment experiences, for purchases made in person as well as online, the essentials cited by consumers include, security (59%), speed (23%), and convenience (17%). Purchases with chip cards and contactless payments were the most popular options for payment. Furthermore, 62% of Latin Americans stated that they used a home shopping service during the quarantine. In fact, almost half of them (46%) said that they would continue to use this service in the future.

As a leader in the payments industry, Mastercard is committed to developing a global technology infrastructure and use its brand strength to positively impact society with safer, faster, and more efficient payment experiences. This new regional campaign reflects this commitment and seeks to highlight everyday moments that have become “The Essentials” (Lo Esencial) in the aftermath of the pandemic. The campaign will continue to provide unique shopping experiences, relevant consumer education, and tools to help society thrive.

“The pandemic helped us realize the importance of the everyday moments we lost and grew to miss as we all did our part to stay at home. The experience associated with getting our morning coffee, or meeting up with friends have a renewed level of appreciation, and the ability to recover these essential moments today is priceless,” said Roberto Ramirez Laverde, Senior Vice President of Marketing and Communications for Mastercard Latin America and the Caribbean. “This campaign seeks to help individuals welcome a new normal with a new sense of gratitude while also helping consumers and small businesses make them a reality as part of our role as the strategic partner for local businesses.”

About Mastercard (NYSE: MA)www.mastercard.com
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere, by making transactions safe, simple, smart, and accessible. Using secure data and networks, partnerships, and passion, our innovations and solutions help individuals, financial institutions, governments, and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside our company. With connections across more than 210 countries and territories, we build a sustainable world that unlocks priceless possibilities for all.

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SQL Power’s Supervisory Platform continues to revolutionize the financial regulation industry

TORONTO, Oct. 6, 2020 /PRNewswire-HISPANIC PR WIRE/ – SQL Power (www.sqlpower.ca), the global leader in financial regulatory and advanced analytics technology is proud to announce the implementation of their supervisory platform, the SQL Power Suite, on September 22, 2020 at the Trinidad and Tobago Securities and Exchange Commission (TTSEC).

According to the TTSEC, the Electronically Advanced Submission interface or EASi platform will revolutionize the way in which the securities industry is regulated, as it puts market players front and center in navigating the system, from submission and renewal of applications to disclosure filings among other important services.

The implementation of the EASi platform also comes in the midst of a national public health crisis (and global pandemic) when the demand for contactless delivery of services is paramount to ensuring business continuity and the stability of the economy, whilst safeguarding public health. The integrated system allows for a greater degree of transparency in the regulatory process and will strengthen confidence in the local securities market.

“I am confident that the TTSEC digital transformation initiative (EASi) will be a huge success, and will serve as a showcase implementation for all Security Exchange Commissions around the World,” said Sam Selim, President and CEO of SQL Power.

The SQL Power Suite is the most robust financial regulatory (SupTech) solution on the market, delivering the ultimate in regulator flexibility, efficiency and transparency; increasing the likelihood of timely successful intervention while providing all interested parties with the ultimate confidence in the regulated market.

About SQL Power:

Founded in 1989, and headquartered in Toronto, Ontario, Canada, SQL Power Group Inc. is a global application software firm specializing in data collection, data integration, business intelligence, and regulatory implementations.

Since implementing the first supervisory solution in Canada in 2009, SQL Power has been at the forefront of financial regulatory software innovation – rolling out the world’s first fully-integrated XBRL-based data collection, risk management, case management and advanced analytics solution that evolves seamlessly with evolving Global Financial Standards.

The SQL Power Supervisory Platform is an end to end solution for financial regulation. The platform is multilingual, modular and includes: Data Collection, Registration and Licensing, Case Management, Risk Management, and Onsite inspection solutions. The platform also comes bundled with built-in Advanced Analytics capabilities and a world-class Business Intelligence Tool.

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RBC opens registration for first global, virtual running event in its charitable Race for the Kids series

Participants are encouraged to run or walk their ‘virtual race’ independently to support 36 participating charity partners from 16 countries

TORONTO, Sept. 14, 2020 /PRNewswire-HISPANIC PR WIRE/ — Today, RBC opened registration for its first global and virtual charitable running event, as part of its signature Race for the Kids series. Fundraising from the event will benefit youth and children’s causes around the globe, with 36 charity partners that participants can elect to support. Facing the significant disruption of the COVID-19 pandemic, the youth-focused services provided by these charity partners are needed now more than ever.

Instead of a standard running event format, participants will enjoy an innovative virtual experience through the event’s online registration and fundraising website:

  • Registering for the event is free and open to all, regardless of geography, age, or running ability.
  • Participants can elect to support any of the participating 36 charity partners, regardless of where they are physically located.
  • Participants will be able to select their personal race distance and route in their local community (with no pre-determined race course).
  • Participants are encouraged to complete their run or walk independently or with family members (while observing local public health advice and government guidelines) over the October 17-18 weekend.
  • The event website integrates with many running apps, allowing participants to record and map their virtual run or walk.
  • Runner bibs, event posters, and completion certificates will be available for download through the event website.
  • Participants will also receive digital medals and recognition which can be shared on social media.

RBC’s goal for the event is to create ‘the world’s largest virtual family fun run,’ with all RBC employees, their family/friends, charity partner supporters, and members of the public invited to take part.

“The global pandemic has disrupted several aspects of our lives. For many young people, the crisis has negatively impacted their mental health and well-being, access to education, and employment opportunities,” said Dave McKay, President and Chief Executive Officer, RBC. “That’s why we’re taking our RBC Race for the Kids to a virtual format this year – to ensure we can continue to address these needs, supporting young people and their families facing these challenges. I want to thank our 36 charity partners for their ongoing dedication to youth in this critical year and am looking forward to Race weekend.”

Prior to 2020, RBC Race for the Kids events took place in 17 physical locations, including: Bahamas, Barbados, Calgary, Chicago, Hong Kong, Jersey, Kuala Lumpur, London, Montreal, New York, Ottawa, Seattle, St. Paul, Sydney, Toronto, Trinidad & Tobago, and Vancouver. Since its inception in 2009, the series has attracted more than 260,000 participants and raised over $57 million for youth and children’s causes around the world.

In addition to hosting this virtual event, RBC has committed $10.5 million to date towards food security, mental health, and strategic preparedness in response to the COVID-19 pandemic. In 2019, RBC donated $130 million to nearly 5,000 charitable organizations, globally.

To learn more about RBC Race for the Kids, its charity partners, or register for the virtual event, visit: www.rbcraceforthekids.com.

About RBC
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 86,000+ employees who bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank, and one of the largest in the world based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our 17 million clients in Canada, the U.S. and 34 other countries. Learn more at rbc.com.‎

We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/community-social-impact.

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GM Sectec and Visa promote the adoption of secure payment technologies and practices in Latin America

SAN JUAN, Puerto Rico and MIAMI, June 18, 2020 /PRNewswire-HISPANIC PR WIRE/ – GM Sectec, a global leader in cybersecurity, and Visa, the world’s leader in digital payments, have announced the development of a virtual initiative – following a series of successful roadshows in Latin America in 2019 – where they will work together, with the objective of evangelizing, educating and guiding companies in the adoption of secure payment technologies and practices, taking into consideration the moment that we are living in worldwide due to the Coronavirus pandemic.

The COVID-19 health crisis is putting the world at risk. The impact on businesses, markets and economies is already beginning to be felt, and in business ecosystems the demand for strong measures to ensure business continuity is fundamental.

At a global level, the changes and challenges that companies have faced include adapting to new tele-working scenarios, unknown until only about three months ago, have created unique opportunities on all ends of the digital divide. For many large corporations, this option has become the norm and many have chosen to adopt it permanently, at least for the rest of 2020.

As a result, the number of people making electronic payments has multiplied, as shown by the recent Visa study which presented that more than 13 million of its cardholders made an e-commerce transaction for the first time in the first quarter of 2020, in key markets in Latin America and the Caribbean. This means that two out of every 10 active e-commerce cardholders are “new to e-commerce,” representing up to 14 percent of all active Visa accounts in key markets during this period.

“Our intention in developing our GM Sectec & Visa ‘PaySec Talks’ on the heels of our successful ‘PaySec Day’ Events throughout Latin America in 2019; is to promote the adoption of secure payment technologies and practices in concert with our Strategic Partner, Visa. Offering organizations and individuals who are working from home, the opportunity to learn about the tools, tactics and procedures they have available today to prevent multi-vector fraud and identity theft is a critical objective for all of us here at GM Sectec.” said Héctor Guillermo Martínez, President of GM Sectec.

Through the “PaySec Talks”, which will be held throughout July, in three sessions – English, Spanish and Portuguese – GM Sectec and Visa will be sharing better strategies and practices on how to maintain the security of their customers’ information and data when conducting electronic transactions.

“We have seen a pivotal change in consumer shopping behaviors as a result of the pandemic, which has rapidly reinforced the multiple benefits of e-commerce and contactless payments, as consumers prioritize health, safety and hygiene both at home and when out shopping,” said Eduardo Perez, Chief Risk Officer for Visa Latina America and the Caribbean.  ”Now is the time for issuers, acquirers and businesses to invest in quickly implementing payment services that consumers will increasingly demand during and as we overcome this situation.”

for this reason, we want through the PaySec Talks, to educate companies in Latin America, where e-commerce is a growing alternative, to ensure the safety of their customers and their business.”

The “PaySec Talks” will be held on July 2nd, 16th and 30th, to participate you just have to register through the following link: https://events.gmsectec.com/visagmsectec

About GM Sectec

GM Sectec offers innovative solutions and services in cybersecurity, governance, and compliance focused on managing digital risk. Its solutions are designed to detect advanced attacks and respond to them effectively, reducing business risk, fraud, and cybercrime. Founded in 1970 as General Computer Corporation and later as GM Group in the 1990s, GM Sectec has an extensive track record and experience in the management of policies and integrated processes of technologies and standards for data protection in payment system risk.  Its commitment to the principles of simplicity, innovation and customer success has made them the leading and fastest growing provider of security and technology in Latin America and the Caribbean. GM Sectec has been selected as one of the “Hot 150 Cybersecurity Companies to watch in 2020″ by Cybercrime MagazineTo learn more about GM Security Technologies, visit our website: www.gmsectec.com

About Visa Inc.

Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network – enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit  About Visavisa.com/blog and  @VisaNews.

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Mastercard Partners with Facebook to Enable Brazilians to Send and Receive Money Using WhatsApp

WhatsApp users in Brazil can now transfer money and pay businesses directly from the app, quickly, conveniently and securely
MIAMI, June 15, 2020 /PRNewswire-HISPANIC PR WIRE/ — Today, Mastercard announced the extension of its partnership with Facebook to offer a new and innovative way for Brazilians to send and receive money from friends and family on the WhatsApp application. Mastercard cardholders banking with Nubank and Sicredi are among the first in Brazil to experience payments on WhatsApp. Additional banking partners are expected to join the program soon.

Leveraging Mastercard Send™, millions of WhatsApp users can now use their phones to simply and easily transfer money instantly (24 hours a day, 7 days per week)1 . As social distancing measures propel consumers to seek alternative, touch-free payment methods, consumers can use WhatsApp to transfer money and make and receive payments seamlessly, securely and in a contact-free way. Paying friends and family just got easier Person-to-person payments (P2P) are experiencing significant growth across the world, driven by technologies and mobile platforms that consumers enjoy using at little-to-no cost to them. Globally, domestic P2P transfers are expected to reach more than $2.07 trillion in volume by 20222. Until now, the P2P user-experience in Brazil was cumbersome and time consuming. Consumers had to identify money transfer services and provide bank account information for recipients, who could wait days to receive funds. With the enablement of P2P payments on WhatsApp, Brazilians will be able to send and receive money conveniently and securely by registering their debit card through the most popular instant messaging app in the country, eliminating the risks and inefficiencies associated with other payment methods including cash. The new solution responds to the needs of Brazilians who are increasingly looking for quick and safe ways to send and receive money, whether it is to reimburse a friend for a meal, to pay a roommate for rent, or simply lend money to a family member. The inclusion of small businesses in electronic payments In addition to making transfers, WhatsApp users can also pay small businesses through the WhatsApp Business Application. This allows for instant digital payments of goods and services to millions of small businesses in Brazil. Mastercard cardholders can register their credit or debit card to make their purchases securely. According to a recent study3, 60% of Brazilian consumers already use WhatsApp to interact with small businesses, be it to order products, negotiate prices or schedule appointments. Enabling payments through WhatsApp will now allow consumers to complete the shopping journey with their favorite businesses without leaving the application. “Adding a payment functionality to WhatsApp is a logical evolution to answer the needs of both consumers and small businesses in Brazil. The possibility to make purchases from small merchants through WhatsApp will support millions of local businesses which have been heavily impacted by the recent crisis as well as meet the demands for Brazilian of users who are looking to send payments to their friends and family each day,” said Kiki Del Valle, Senior Vice President, Digital Partnerships, Mastercard Latin America and Caribbean. “We are very excited to bring payments on WhatsApp to our users across Brazil. Making it easier to send and receive money could not be more important than at a time like this,” said Matt Idema, WhatsApp’s Chief Operating Officer. “Small businesses are the backbone of the country. The ability to easily make sales right within WhatsApp will help business owners adapt to the digital economy and to support growth and financial recovery.” Security in every WhatsApp payment transactions Linking their preferred credit or debit card within the app is highly secure thanks to the use of Mastercard’s state-of-the-art tokenization solution. The tokenization technology protects cardholder information by replacing the original 16-digit card number with a unique alternative number, or “token,” which is associated with each WhatsApp user’s individual account and not functional elsewhere. Once the token has been created, consumers will need to input their security PIN each time they want to perform a transaction. Click on the link to learn how to use this new service: www.whatsapp.com/payments/br About Mastercard (NYSE: MA), www.mastercard.com Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all. 1 Actual posting times for approved transactions will depend on the receiving financial institution 2 Juniper Research, 2018, Digital Money Transfer & Remittances 3WhatsApp Economic Impact Report-final.pdf 4 Mastercard, 2019, P2P Payments Research

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Mastercard Study Shows Consumers in LAC Make the Move to Contactless Payments

Consumers cite simplicity, cleanliness and speed through checkout experience as contactless payments booster

– Mastercard champions effort to raise limits for contactless payment transactions across Latin America & Caribbean

MIAMI, April 30, 2020 /PRNewswire-HISPANIC PR WIRE/ – During first quarter of 2020, as many countries imposed necessary restrictions on social distancing, a growing number of consumers in Latin America & Caribbean (LAC) turned to contactless payments for necessary purchases, a new Mastercard study shows. According to the survey, 35% of people in the region have increased their usage of contactless payments, citing simplicity, safety and cleanliness.

Consumer polling by Mastercard paints a picture of accelerated and sustained contactless adoption. This shift in consumer behavior is particularly clear at checkout as people express a desire for contactless cards and concerns over cleanliness and safety at the point of sale, according to the study. In fact, findings of the study show that the impact of social distancing and other safety guidelines on consumer payment behavior is extensive:

  • 56% of Latin Americans said they are more aware of dirtiness of cash.
  • 84% of Latin Americans believe contactless is a cleaner way to pay.

1.        Mastercard’s own initiatives, along with the intelligence of its technology, data analytics and investments in security, will continue to propel a world beyond cash. Already, more than half of consumers around the world (63%) are using cash less often, or not at all, since the pandemic began. The same is true in LAC, where on average 66% of consumers are using cash less often, or not at all:

  • 77% of Brazilians indicated that they are using cash less, or not at all, since the pandemic.
  • 61% of Colombians indicated that they are using cash less, or not at all, since the pandemic.
  • 68% of Costa Ricans indicated that they are using cash less, or not at all, since the pandemic.
  • 58% Dominican Republicans indicated that they are using cash less, or not at all, since the pandemic.

2.       Consumers are quickly appreciating the benefits of contactless payments with 79% across LAC finding them more secure when compared to keeping or paying with cash. Additionally, regional consumer polling by Mastercard indicated sustained contactless usage with consumers preferring the quick and efficient checkout experience.

  • 78% of Latin Americans indicated they will continue using contactless payments even after the pandemic is over.
  • The belief was even stronger among those under the age of 35, where 82% of this population indicated continued use post-COVID.

“As we all experience the first global pandemic in an age defined by the digitalization of our lives, contactless card payments have taken on a new urgency. It has been both encouraging and gratifying to see our partners throughout the LAC region adopt the changes and acceleration of contactless. The technology is available, and it’s clear that the change we are witnessing in consumer behavior is here to stay,” said Walter Pimenta, Senior Vice President, Products & Innovation, Mastercard Latin America and Caribbean.

Accelerating faster, cleaner, safer payments
Throughout the world, Mastercard has been spearheading the transition to contactless for more than 15 years, championing it as the simple, safe and fast way to pay. As a region with countries where contactless technologies are a newer experience, LAC has seen a rapid increase in infrastructure, with 75% of point of sale terminals ready to accept contactless transactions, and 60% of financial institutions issuing contactless-enabled cards.

In March, Mastercard led a move to increase the contactless payment limits across the LAC region as people looked for safer ways to pay in the wake of the COVID-19 pandemic. Today, four countries have already raised their contactless payment limits including, Colombia, Argentina, Dominican Republic and Costa Rica, with many others expected to follow soon. The initiative is in line with similar actions taking place around the world as health officials recommend social distancing and a growing number of merchants are encouraging consumers to pay with contactless instead of cash to avoid contact.

“As the spread of COVID-19 highlights the steadfast mindset for ‘contact-free’ environments and experiences in many aspects of our lives, the increased interest in contactless payments is far reaching. We believe in providing consumers with the freedom of choice in how they pay and peace of mind when they pay. With increased convenience and security, we look forward to expanding the contactless footprint more than ever before,” added Pimenta.

Contactless Payments Growth
As consumers increasingly seek out ways to quickly get in and out of stores without touching terminals, Mastercard data reveals over 40% growth in contactless transactions globally in the first quarter of 20201. Further, 80% of contactless transactions are under $25, a range that is typically dominated by cash. LAC, a less mature region when it comes to contactless penetration, saw exponential growth, with contactless transactions up 500% overall since March of last year.

While countries worldwide are at different stages of contactless card deployment and usage for daily shopping habits, Mastercard’s insights on grocery and pharmacy trends – two areas where many day-to-day essentials are being purchased – showed that nearly all regions experienced significant spikes in February and March. Further, reinforcing changing behaviors and consumer checkout preferences, Mastercard saw the number of contactless card payments at grocery stores and pharmacies grow twice as fast as non-contactless transactions globally2.

Notes to Editors:

1 Growth calculated as the percentage increase in contactless transactions compared to the percentage increase in non-contactless transactions, comparing March 2020 to March 2019, at Grocery and Pharmacy categories

2Growth calculated as the percentage increase in contactless transactions compared to the percentage increase in non-contactless transactions, comparing March 2020 to February 2020, at Grocery and Pharmacy categories

Survey Methodology

  • Online interviews of 17,000 consumers in 19 countries worldwide
  • 1,000 banked respondents per country in the US and Canada (North America); Australia, Singapore (Asia Pacific); UAE, Kingdom of Saudi Arabia, South Africa (Middle East and Africa); UK, Italy, France, German, Spain, Poland, Russia, the Netherlands (Europe).
  • 500 banked respondents per country in Brazil, Costa Rica, Dominican Republic, and Colombia (Latin America and the Caribbean)
  • Research conducted April 10-12, 2020
  • Nationally representative sample
  • Readable sample sizes of:
    • Gen Z/Millennials
    • Affluent [defined at a country level]
    • Contactless users
    • Primary shoppers
    • Those with high levels of concern about Covid-19

About Mastercard
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

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ECCB and Toronto Centre Lead Workshop on “Coping with Climate Change and Other Environmental Risks”

The Eastern Caribbean Central Bank and Toronto Centre lead workshop for supervisors and regulators of the Eastern Caribbean Currency Union to help identify climate and other environmental risks to financial institutions, economies, and consumers

CaribPR Wire, BASSETERRE, St. Kitts and Nevis, Dec. 02, 2019: At the request of, and in partnership with, the Eastern Caribbean Central Bank, Toronto Centre is holding its first five-day cross-cutting climate risk workshop. The workshop is aimed at helping financial sector supervisors and regulators identify the risks that climate change and other environmental factors pose to financial institutions, economies, consumers and vulnerable groups. Participants will learn how to develop action plans to deal with climate change and other environmental risks, and how to identify and communicate effectively with key stakeholders to achieve results.

The IMF’s Global Financial Stability Report, 2019 prominently highlights climate risk as a risk to financial stability. In addition to examining the nature of these risks and their potential effects, the program identifies steps that supervisors and financial institutions can take to deal with these risks. Product design, investment, lending, and strengthening risk management and stress testing are areas that supervisors and financial institutions can explore. The workshop additionally highlights steps that could be taken to manage risks to consumers, such as improving financial literacy and inclusion.

Timothy N.J. Antoine, Governor of the Eastern Caribbean Central Bank (ECCB) said: “As the custodians of the payment system, our Central Bank is advocating for and facilitating disaster and climate resilience strategies inclusive of investment in physical and digital infrastructure, early warning systems, and fiscal resilience. ECCB is pleased to host this inaugural workshop on coping with climate change and other environmental risks and key actions that can be taken by supervisors and those they supervise to deal with these risks. Toronto Centre’s capacity building efforts are essential as financial sector supervisors and regulators in our region tackle these risks.”

Babak Abbaszadeh, CEO and President, Toronto Centre said: “Climate risk is an emerging risk for financial policy makers, standard setters, and supervisors. Toronto Centre applauds the ECCB’s initiative and leadership to be an early mover in building their capacity to deal with climate risk.”

LEARN MORE

www.eccb-centralbank.org/

The Eastern Caribbean Central Bank (ECCB) was established in October 1983. It is the monetary authority for a group of eight small country economies namely – Anguilla, Antigua and Barbuda, Commonwealth of Dominica, Grenada, Montserrat, Saint Kitts and Nevis, Saint Lucia, and Saint Vincent and the Grenadines.

The Agreement establishing the ECCB as the monetary authority for the eight ECCB participating governments was signed on 5 July 1983 in Trinidad and Tobago. The ECCB was officially commissioned on 1 October 1983, replacing the Eastern Caribbean Currency Authority (ECCA) which was established in March 1965.

The primary objective of the ECCB is to maintain the stability of the Eastern Caribbean Currency and the integrity of the banking system.

LEARN MORE

www.torontocentre.org

Established in 1998, Toronto Centre for Global Leadership in Financial Supervision (Toronto Centre) is an independent not-for-profit organization that promotes financial stability and access to financial services globally. Our mission is to provide high quality capacity building programs for financial supervisors and regulators, primarily in emerging markets and developing countries. We believe that for countries to thrive, their financial systems must be stable and inclusive. Our mission supports sustainable growth and job creation and helps to reduce poverty by helping to build these economic foundations. In turn, stable, sustainable economic growth is a vital enabler of infrastructure investments, strengthening international trade and reducing poverty as confirmed by the UN 2030 Sustainable Development Goals and the Addis Ababa Action Agenda, Financing for Development. Our mission is aligned with Canada’s Feminist International Assistance Policy. Since our inception, we have trained more than 12,000 supervisors and regulators from over 190 jurisdictions. Toronto Centre is supported by Global Affairs Canada, the International Monetary Fund, Swedish International Development Cooperation Agency (Sida), Comic Relief, Jersey Overseas Aid, and other valuable international partners.


El Banco Central del Caribe Oriental (ECCB) y Toronto Centre dirigen un taller sobre “Cómo enfrentar el cambio climático y otros riesgos ambientales”

El Banco Central del Caribe Oriental y Toronto Centre dirigen un taller para supervisores y reguladores de la Unión Monetaria del Caribe Oriental para poder identificar riesgos climáticos y otros riesgos ambientales para instituciones financieras, economías y consumidores

CaribPR Wire, BASSETERRE, San Cristóbal y Nieves, Dec. 02, 2019: A pedido del Banco Central del Caribe Oriental, y en asociación con este, Toronto Centre llevará a cabo su primer taller transversal de cinco días. El taller tiene por objeto ayudar a los supervisores y reguladores del sector financiero a identificar los riesgos que el cambio climático y otros factores ambientales plantean para las instituciones financieras, las economías, los consumidores y los grupos vulnerables.  Los participantes aprenderán cómo desarrollar planes de acción para enfrentar el cambio climático y otros riesgos ambientales y a cómo identificar y comunicar en forma eficaz a las partes interesadas clave para lograr resultados.

El Informe sobre la estabilidad financiera mundial de 2019 del FMI destaca claramente al riesgo climático como un riesgo para la estabilidad financiera. Además de analizar la naturaleza de estos riesgos y sus posibles efectos, el programa identifica los pasos que los supervisores y las instituciones financieras pueden tomar para enfrentarlos. El diseño del producto, la inversión, el préstamo y el fortalecimiento de la gestión de riesgos y las pruebas de resistencia son áreas que pueden examinar los supervisores y las instituciones financieras. Asimismo, el taller destaca los pasos que podrían tomarse para manejar los riesgos para los consumidores, como mejorar la educación y la inclusión financiera.

Timothy N.J. Antoine, Gobernador del Banco Central del Caribe Oriental (ECCB) afirmó: “Como custodios del sistema de pagos, nuestro Banco Central defiende y facilita las  estrategias para la resistencia ante el clima y los desastres, que incluyen la inversión en infraestructura física y digital, sistemas de advertencia temprana y resistencia fiscal. ECCB se complace en organizar este taller inaugural sobre cambio climático y otros riesgos ambientales, y las medidas clave que pueden tomar los supervisores y aquellos a quienes supervisan para enfrentar estos riesgos. Las medidas de desarrollo de capacidades de Toronto Centre son esenciales, dado que los supervisores y reguladores del sector financiero en nuestra región enfrentan estos riesgos”.

Babak Abbaszadeh, Director ejecutivo (CEO) y Presidente de Toronto Centre, sostuvo lo siguiente: “El riesgo climático es un riesgo emergente para las autoridades responsables de políticas financieras, las personas que establecen estándares y los supervisores. Toronto Centre aclama la iniciativa y el liderazgo del ECCB por ser uno de los pioneros en promover el desarrollo de su capacidad para enfrentar el riesgo climático.”

MÁS INFORMACIÓN

www.eccb-centralbank.org/

El Banco Central del Caribe Oriental (ECCB) se fundó en octubre de 1983. Es la autoridad monetaria de un grupo de economías de ocho pequeños países, a saber, Anguila, Antigua y Barbuda, Dominica, Granada, Montserrat, San Cristóbal y Nieves, Santa Lucía y San Vicente y las Granadinas.

El Acuerdo que estableció al ECCB como la autoridad monetaria para los ochos gobiernos que participan del ECCB se suscribió el 5 de julio de 1983 en Trinidad y Tobago.  El ECCB recibió la autorización oficial el 1.º de octubre de 1983, en reemplazo de la Autoridad Monetaria del Caribe Oriental (ECCA), que se fundó en marzo de 1965.

El objetivo principal del ECCB es mantener la estabilidad de la moneda del Caribe Oriental y la integridad del sistema bancario.

MÁS INFORMACIÓN

www.torontocentre.org

Fundado en 1998, el Toronto Centre for Global Leadership in Financial Supervision (Toronto Centre) es una organización independiente sin fines de lucro que promueve la estabilidad financiera y el acceso a los servicios financieros en todo el mundo. Nuestra misión es proporcionar programas de capacitación de alta calidad para supervisores y reguladores financieros, principalmente en mercados emergentes y países en desarrollo. Creemos que para que los países prosperen, sus sistemas financieros deben ser estables e inclusivos. Nuestra misión apoya el crecimiento sostenible y la creación de empleo y ayuda a reducir la pobreza ayudando a construir estas bases económicas. A su vez, un crecimiento económico estable y sostenible es un factor vital para facilitar las inversiones en infraestructuras, reforzar el comercio internacional y reducir la pobreza, como confirman los Objetivos de Desarrollo Sostenible de las Naciones Unidas para 2030 y la Financiación para el Desarrollo (Agenda de Acción de Addis Abeba) Nuestra misión concuerda con la Política de Asistencia Internacional Feminista de Canadá. Desde nuestros inicios, hemos capacitado a más de 12.000 supervisores y reguladores de más de 190 jurisdicciones. Toronto Centre cuenta con el apoyo de Global Affairs Canada, el Fondo Monetario Internacional, la Agencia Sueca de Cooperación Internacional para el Desarrollo (ASDI), la organización Comic Relief, la organización Jersey Overseas Aid y otros valiosos socios internacionales.


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Highgate Systems Appoints Kelley Gray as Managing Director

CaribPR Wire, MISSISSAUGA, Ontario, Nov. 22, 2019: Highgate Systems Inc. today announced that Kelley Gray, has been named interim Managing Director of Highgate Systems Inc., replacing Aldo Campodonico effective immediately.

After 3 years, Aldo and Highgate Systems Inc. have decided to part ways and we wish to thank Aldo for his contribution to Highgate Systems.

Reporting to Highgate’s Board of Directors, Kelley will focus on strategies and tactics in support of the company’s future global growth initiatives.

Kelley remarked, “My key to success has been built on a passion for building strong relationships and obtaining results through collaboration. I am very excited to have this opportunity to contribute to Highgate’s present and future growth.”

Barry Walsh, Highgate’s Chairman said, “On behalf of the management and staff at Highgate, I’d like to congratulate Kelley on her appointment to the leadership team and wish her every success in her new role.”

Kelley, brings over 25 years of technology experience in executive management roles for companies such as: Symcor, Manulife Canada, CGI, Bell and Sun Microsystems. Her diverse background in the area of information technology, financial services, telecommunications, and government will be an invaluable asset to Highgate Systems Inc.

In addition to her impressive professional qualifications and experience, Kelley maintains an interest in both professional and recreational sporting activities. She is an accomplished golfer, hockey player, softball player and bowler.

About Highgate
Highgate Systems Inc. is a trusted provider of fully integrated, end-to-end Banking solutions to the financial services industry. Founded in 1986, Highgate Systems, technological footprint and Clients spans across Canada, the U.S and the Caribbean. Highgate Systems Inc. is a proudly Canadian Company delivering cutting edge solutions to Commercial Bank, Development Banks and Credit Unions.

Highgate Systems nombra a Kelley Grey como Directora General Interina

CaribPR Wire MISSISSAUGA, Ontario, Nov. 27, 2019: Hoy, Highgate Systems Inc. (Highgate) anunció que Kelley Grey, fue nombrada Directora General Interina de Highgate, en reemplazo de Aldo Campodonico.

Después de tres años trabajando en conjunto, Aldo y Highgate decidieron emprender rumbos diferentes. Queremos agradecerle a Aldo por sus contribuciones a Highgate.

Kelley, que estará bajo la supervisión de la junta directiva de Highgate, se enfocará en estrategias para apoyar las futuras iniciativas de crecimiento global de la empresa.

Kelley destacó: “Mi clave para el éxito ha sido la dedicación para construir relaciones sólidas y obtener resultados a través de la colaboración. Estoy muy entusiasmada por tener esta oportunidad para contribuir al crecimiento de Highgate tanto en el presente como en el futuro”.

Barry Walsh, Presidente de Highgate, dijo: “En nombre de la Gerencia y el personal de Highgate, me gustaría felicitar a Kelley por su nombramiento y desearle mucho éxito en su nueva función”.

Kelley tiene más de 25 años de experiencia técnica en funciones de administración ejecutiva para empresas como: Symcor, Manulife Canadá, CGI, Bell y Sun Microsystems. Su experiencia integral en las áreas de tecnología de la información, servicios financieros, telecomunicaciones y Gobierno será un recurso invaluable para Highgate.

Además de sus impresionantes calificaciones profesionales y experiencia, Kelley mantiene un interés en actividades deportivas tanto profesionales como recreativas. Es una excelente jugadora de golf, de hockey, de softball y, además, de boliche.

Acerca de Highgate
Highgate Systems Inc. es un proveedor confiable de soluciones bancarias integradas punta-a-punta, para la industria de servicios financieros. Fundada en 1986, la tecnología y los clientes de Highgate Systems se extienden por Canadá, Estados Unidos y el Caribe. Highgate Systems Inc. es una empresa orgullosamente canadiense que ofrece soluciones de vanguardia a bancos comerciales, bancos de desarrollo y cooperativas de crédito.

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Global Financial Technology Provider Equisoft Appoints Ruben Veerasamy as Head of the Caribbean Region

MONTREAL, Oct. 30, 2019 /CNW Telbec/ - Equisoft, a leading global financial technology company providing advanced solutions for the insurance and wealth industries, today officially announced the appointment of Ruben Veerasamy as Senior Vice President, Caribbean.

Equisoft’s strategic objective is to diversify and accelerate their global expansion. The company has delivered significant strategic business value in the Caribbean market for more than 10 years, working with clients in Jamaica, The Bahamas, Bermuda and Trinidad, and is continuing to scale up rapidly. With the objective of developing a team dedicated to servicing Caribbean clients, the time has come to nominate a leader for the region.

Ruben has performed different delivery and sales roles at Equisoft for over 10 years. With over 20 years of experience in the IT industry, he brings a strong expertise in establishing and managing sustainable client, partner and employee relationships.

“Ruben’s ability to build connections and confidence has been instrumental in helping us develop a great reputation in the Caribbean over the years,” said Equisoft’s CEO, Luis Romero. “We already serve six companies with our insurance and wealth solutions, and we are shortlisted for multiple large opportunities in the region. Appointing a dedicated leader was the next logical step to make sure that we provide our customers with the level of support they are expecting from their technology partner.”

“Being active in the region since 2009, we have a deep understanding of the specific challenges that Caribbean insurers and financial institutions are facing, both from a business and technology standpoint,” said Ruben. “I’m looking forward to continuing to work closely with our customers to help them achieve their business goals.”

About Equisoft

Founded in 1994, Equisoft is a global provider of advanced digital solutions in life insurance and wealth management. Recognized as a valued partner by over 50 of the world’s leading financial institutions in 15 countries, Equisoft offers innovative front-end applications, extensive back-office services and a unique data migration expertise. The firm’s industry-leading products include CRM, financial needs analysis, asset allocation, quotes and illustrations, electronic application, agency management systems, as well as customer, agent and broker portals. Equisoft is also Oracle’s main global partner for the Oracle Insurance Policy Administration platform. With its business-driven approach, deep industry knowledge, state-of-the-art technology, and a growing team of over 400 specialized resources based in the USA, Canada, Latin America, South Africa and India, Equisoft helps financial institutions tackle any challenge in this new era of digital disruption. Website: equisoft.com

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Stone Pagamentos Co-Founder, Eduardo Pontes, acquires a minority stake in Tutuka

Pontes and Tutuka looking to grow payments in Latin America and beyond

DUBAI, United Arab Emirates, Oct. 23, 2019 /PRNewswire-HISPANIC PR WIRE/ – Tutuka announced today that the Co-Founder of one of Latin America’s biggest fintechs, Stone Pagamentos, has acquired a minority stake in Tutuka.

Tutuka Logo

Tutuka is well known for its unique processor plus model which enables fintechs, mobile wallets, apps and banks across emerging markets to easily issue Mastercard and Visa payment products such as physical or virtual cards that are linked to the values in their customers’ wallets or accounts.

Pontes co-founded Stone Pagamentos in Brazil, which rapidly become one of the country’s largest acquirers and IPO’d on NASDAQ in 2018 with a valuation of US$8.8b.

The Latin American fintech market is growing at a rapid rate, with research conducted in 2018 by the Inter-American Development Bank and Finnovista showing a 66% growth of fintech startups from 2017 to 2018. With Tutuka’s deep experience in emerging markets and the ability to make payments happen quickly, easily and securely, the company is well-equipped to maximize the opportunities for growth in the region.

Tutuka has clients in over 19 countries across Africa, Asia, the Middle East and now Latin America.

Pontes’ experience, coupled with Tutuka’s capabilities as a payments enabler, will support Tutuka’s expansion into Latin America and help to drive financial inclusion in the region.

About Tutuka

Tutuka (www.tutuka.com) is a third-party payments enabler that makes payments happen by enabling our clients’ customers to pay with Mastercard and Visa cards and products. Tutuka enables fintechs, mobile wallets, apps and banks across Africa, Asia, the Middle East and Latin America to issue virtual and physical cards and other Mastercard and Visa payment products. Tutuka’s processor plus model allows our clients to easily, cost-effectively and quickly link into card schemes without the complexity and slow timelines normally associated with processors.

About Eduardo Pontes

Eduardo Pontes (https://investors.stone.co/advisory-board/eduardo-pontes) co-founded Stone Pagamentos (https://www.stone.com.br) which IPO’d on NASDAQ in 2018. Eduardo Pontes is now principal of Arpex Capital.

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Parkland announces launch of new JOURNIE™ Rewards Canadian customer loyalty program with CIBC as its strategic banking partner

CaribPR Wire, CALGARY, Alberta, Oct. 17, 2019: Parkland Fuel Corporation (“Parkland”) (TSX:PKI) announced today that it is launching JOURNIE™, a nationwide rewards and customer loyalty program with CIBC as its strategic banking partner. JOURNIE™ will offer Canadians compelling fuel savings and merchandise offers and will launch in select Ontario, British Columbia and Quebec markets this fall with a full national rollout in early 2020.

JOURNIE™ members that link their personal CIBC credit and debit cards will enjoy fuel savings of three cents per litre at participating locations when paying with their CIBC card. Following its full national rollout, JOURNIE™ Rewards and the CIBC fuel savings will be available across Parkland’s coast-to-coast network of approximately 1,300 Chevron, Ultramar, Pioneer and Fas Gas sites. In addition to instant fuel savings, customers can simultaneously collect JOURNIE™ Rewards as well as rewards they already earn with their CIBC credit card.

“The launch of our JOURNIE™ Rewards program and CIBC’s participation is a major milestone for Parkland,” said Ian White, Senior Vice President of Strategic Marketing and Innovation. “By connecting our national network of fuel retail sites and On the Run and Marché Express convenience stores under a single proprietary rewards program with compelling fuel and merchandise offers, we are creating a powerful customer loyalty offer with nationwide scale.”

“This is an exciting loyalty program bringing together two innovative and customer focused companies that have an extensive nationwide retail presence and broad consumer reach,” added White. “In addition to enhancing our JOURNIE™ value proposition, our partnership with CIBC supports our strategy to grow our fuel sales volumes and increase foot traffic in our Canadian convenience stores.”

“This partnership builds on our exceptional credit card benefits, such as our four per cent cashback on fuel purchases with our CIBC Dividend® Visa Infinite* Card,” said Jeff Smith, Vice President, Client Loyalty Solutions and Partnerships, Personal Banking Products, CIBC.  “With JOURNIE™ Rewards, we’re making it radically simple for our clients to receive discounts at the pump, while helping them achieve their reward ambitions sooner.”

Parkland’s JOURNIE™ Rewards program is supported by a newly developed mobile app which will be available for anyone to download on iOS and Android platforms from October 23, 2019. For more information on JOURNIE™ and how to become a registered member please visit www.journie.ca.

Forward-Looking Statements
Certain statements contained in this news release constitute forward-looking information and statements (collectively, “forward looking statements”). When used in this news release, the words “expect’’, ‘‘will’’, ‘‘could’’, ‘‘would’’, ‘‘supports’’ and similar expressions are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, launch of JOURNIE™ in early 2020, the availability of JOURNIE™ in Parkland’s coast-to-coast network, growth of fuel sales volumes and increase foot traffic in our Canadian convenience stores.

These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These forward-looking statements speak only as of the date of this news release. Parkland does not undertake any obligations to publicly update or revise any forward-looking statements except as required by securities laws. Actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks and uncertainties including, but not limited to: failure to achieve the anticipated benefits of the JOURNIE™ loyalty program, general economic, market and business conditions, industry capacity, competitive action by other companies, refining and marketing margins, the ability of suppliers and/or strategic business partners to meet commitments, actions by governmental authorities and other regulators including increases in taxes, changes and developments in regulations, and other factors, many of which are beyond the control of Parkland. See also the risks and uncertainties described under the headings “Cautionary Statement Regarding Forward-Looking Information” and “Risk Factors” in Parkland’s current Annual Information Form, and under the headings “Forward-Looking Information” and “Risk Factors” in Parkland’s Management’s Discussion and Analysis for the most recently completed financial period, each as filed on SEDAR and available on Parkland’s website at www.parkland.ca.

About Parkland
Parkland is an independent supplier and marketer of fuel and petroleum products and a leading convenience store operator. Parkland services customers across Canada, the United States, the Caribbean region and the Americas through three channels: Retail, Commercial and Wholesale. Parkland optimizes its fuel supply across these three channels by operating and leveraging a growing portfolio of supply relationships and storage infrastructure. Parkland provides trusted and locally relevant fuel brands and convenience store offerings in the communities it serves.

Parkland creates value for shareholders by focusing on its proven strategy of growing organically, realizing a supply advantage and acquiring prudently and integrating successfully. At the core of our strategy are our people, as well as our values of safety, integrity, community and respect, which are embraced across our organization. *JOURNIE and associated work marks are trade-marks of Parkland Fuel Corporation.

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Solis ranked Top 3 among Asian brands on BloombergNEF’s Solar Module & Inverter Bankability 2019 Report

NINGBO, China, Sept. 24, 2019 /PRNewswire-HISPANIC PR WIRE/ — Bloomberg New Energy Finance (BNEF) recently released its Solar Module & Inverter Bankability 2019 report. For the first time, the company made investigations into solar inverters, surveying the bankability of several inverter brands.

‘Bankability’ means banks are more willing to offer non-recourse loans to photovoltaic power generation projects that opt to use a particular inverter brand.

Solis’ inverters ranked third for Asian brands: a testament to the brand’s products being well-recognised by global technical experts and respondents. This incredible result also means project developers are more likely to receive bank financing if they use Solis’ products over those of other brands.

With a team of experts spread across six continents, BNEF analyses complex data from around the globe to procure in-depth forecasts which highlight the financial, economic and political implications of industry-transforming trends and technologies.

For this survey, BNEF sought information from banks, developers and technical due diligence firms about which brands, out of 48 module manufacturers and 17 inverter manufacturers, they considered to be bankable.

Interestingly, regional differences are far starker when considering the bankability of inverters compared to modules. Unlike panels, inverters are less of a commodity as modules have only one function – producing energy – while inverters have multiple purposes. Aside from converting direct current into alternating current, inverters interact directly with the grid and aggregate power output data. As such, there are different types of inverters for different project requirements (for example, some projects require central inverters while string inverters are more suitable for others).

About Ginlong Technologies

Established in 2005, Ginlong (Solis) Technologies is one of the oldest and largest manufacturers of PV string inverters. Presented under the Solis brand, the company’s portfolio uses innovative string inverter technology to deliver first-class reliability that has been validated under the most stringent international certifications. Armed with a global supply chain, world-class R&D and manufacturing capabilities, Ginlong optimizes its inverters for each regional market, servicing and supporting its customers with its team of local experts.

For more information on how Solis delivers value while maximizing reliability and cost-saving for residential, commercial, and utility customers, visit ginlong.com.

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PaySett Corporation expands its regional payment partnership with JMMB Group of Trinidad & Tobago

PaySett’s market proven PayBank® payments solution will contribute to the growth of electronic payments in Trinidad & Tobago.

ATLANTA and PORT OF SPAIN, Trinidad and Tobago, July 17, 2019 /PRNewswire-HISPANIC PR WIRE/ – PaySett Corporation, a global provider of ePayment solutions and JMMB Group, announced today an expansion of their partnership to continue to drive up electronic payments adoption in the Caribbean region.

www.paysett.com

Jesus Garcia, VP of Business Development, commented, “Regional financial institutions like JMMB rely on PayBank® to process a large volume of electronic payments from multiple banking channels which creates efficiencies that reduce operational costs while providing more innovative services to their customer base.”  PayBank’s robust feature set and adaptability across payment systems in many different countries allows global and regional banks to standardize their payment processing in a global environment. These capabilities allow for fast deployment of new payment innovations on a global basis.  PayBank® is part of a suite of products from PaySett that allows for the processing of both consumer and corporate payments in a real time or batch environment.  Mr. Garcia further commented, “For over a decade, JMMB has relied on PaySett’s solutions for their payment processing needs and we look forward to further collaboration in the region.”

Lisa-Maria Alexander, Chief Marketing Officer at JMMB Group also commented, “We are really pleased to partner with PaySett in bringing increased efficiency and innovation to our clients here in Trinidad & Tobago.”

About PaySett Corporation

Atlanta, Georgia based PaySett Corporation is a global provider of payment software solutions. PaySett provides products/services to assist global financial entities to effectively manage the way money moves throughout their organizations and for their customers. PaySett’s two decades of experience moving payments through national and international payment networks has allowed for the development of advance payment software for assisting global banks with the capability to enhance their regional and global payment network processing capabilities.  Fifteen of the top twenty global banks process payments through PaySett software.

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The Cayman Islands Investment Group Ltd. Announces Availability of Cryptocay.ky

It’s Time to Trade in Paradise!

GEORGE TOWN, Cayman Islands, July 5, 2019 /PRNewswire/ — Today,  The Cayman Islands Investment Group Ltd. announced immediate availability of Cryptocay.ky, enabling traders of all levels of expertise to immediately register and use the Digital Asset Trading platform.

CryptoCay logo

“We are truly excited to release this platform to the world.” said Malcolm Hurlston, Chief Marketing Officer at The Cayman Islands Investment Group Ltd..

Many Countries, One Goal

Many consumers interested in the cryptocurrency world have showed keen interest in the latest platform coming to the shores of the Cayman Islands. Recent studies have shown that as the general media becomes more and more aware of cryptocurrency business, the Caribbean has been taking a closer look at the possibilities of Cryptocommerce.

“Cryptocay.ky is just the beginning of adaptation in the Caribbean,” continued Mr, Hurlston. “We want to become the central hub for everything crypto-related in the Caribbean. We at CIIG are dedicated to creating new products that benefit the investors and entrepreneurs of the future, including an ERC-20 based Money Transfer system!”

Cryptocay.ky Availability

Cryptocay.ky is immediately available for sign up today! Just visit www.cryptocay.ky. For more info on the Cayman Islands Investment Group Ltd., businesses and consumers can visit www.ciig.ky

Founded in 2018,  The Cayman Islands Investment Group is a Registered Company in the Cayman Islands. The company offers a wide range of products and services designed to develop the entrepreneurial economy of the Cayman Islands and beyond.

The Cayman Islands Investment Group Ltd. and Cryptocay.ky are either registered trademarks or trademarks of The Cayman Islands Investment Group Ltd. in the Cayman Islands and/or other countries.

The names of actual companies and products mentioned herein may be the trademarks of their respective owners.

For more information on Cryptocay.ky: www.cryptocay.ky

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PaySett Corporation continues its global expansion of real time payments

The real time payments (RTP) solution PayExpedite® will become the foundation for the modernization of the automated clearing house in El Salvador.

ATLANTA and SAN SALVADOR, El Salvador, June 5, 2019 /PRNewswire-HISPANIC PR WIRE/ – PaySett Corporation a global provider of Payment solutions along with ACH El Salvador announced today the start of the implementation of the PayExpedite® RTP platform based on the  ISO 20022 standard.

www.paysett.com

Laura Bowen the head of Treasury and Trade Solutions at Citi commented “For over 55 years we have been a trusted ally of our customers supporting their initiatives and entrepreneurship. As a member of the El Salvador financial system we are focused on modernizing the ACH in order to bring a better service to our customers”.

Jesus Garcia VP of Business Development added “The ease, speed, and security provided by a proven solution like PayExpedite® allows a financial entity to accommodate the future needs of the financial system while driving down costs of traditional payment methods such as cash and checks.”

“The ACH will evolve over the next several months into a more efficient system for the Salvadorians and businesses via the country’s interbank immediate funds transfer and payments system. This will be the path toward more mature and robust services of the payments system that we have been proposing” indicated Roberto Monterrosa, General Manager of ACH El Salvador.

Participants will be able to process consumer, corporate and government payments in real time through a multitude of banking channels.

About PaySett Corporation

Atlanta Georgia based PaySett Corporation is a global provider of payment software solutions. PaySett provides products/services to assist global financial entities to effectively manage the way money moves throughout their organizations and for their customers. PaySett’s two decades of experience moving payments through national and international payment networks has allowed for the development of advance payment software for assisting global banks with the capability to enhance their regional and global payment network processing capabilities.  Sixteen of the top twenty global banks process payments through PaySett software.

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