Connect with us

News

Industry’s First Open Employment Data Standards (OEDS) Initiative, Introduced by Argyle, Streamlines Financial Transactions That Power the Economy

gbafNews28

Argyle, the trusted platform for employment records with workers consent, today introduced the Open Employment Data Standards (OEDS), a mission-driven initiative established to foster transparency and industry-wide alignment across all employment records and stakeholders. Employment data “ which should be categorized as a form of personally identifiable information (PII) “ is heavily relied upon by the global financial ecosystem, whether it is used to identify how much credit to award or to facilitate a home rental or purchase transaction, a car purchase or lease, or a job application process. OEDS sets a new precedent for how employment data is securely acquired, stored and accessed, building a foundation of trust by providing transparency. Any payroll processor, employer, business, or software startup can join and contribute to this open source initiative.

Until now, no standard existed to regulate how sensitive employment information is collected and managed. This contributed to dwindling consumer trust in the ability of businesses and governments to secure consumer data. PwC uncovered that only 10% of consumers feel they have complete control over their personal information. The standardization of employment information serves as a guide for financial institutions to navigate risk and operate in a way where everyone has equal access to credit, which is critical for building an equitable society. As Shmulik Fishman, founder and CEO of Argyle observed, Employment records are the bedrock of our society and at the core of any approval process such as refinancing a home or applying for a loan.

In working directly with user-permissioned employment records to innovate Argyles platform, we immediately recognized the broader industrys rampant inefficiencies and inaccuracies due to the lack of standardization of personal employee data. Traditionally, this information has been collected and distributed in unorganized and unverified ways, said Fishman. Just like well-established accounting standards, such as GAAP for recording and evaluating a companys financial information, an analogous set of standards is needed for managing sensitive employee data. As the founding member of OEDS, Argyle is paving the way for long-overdue transparent and secure treatment of employee data, streamlining outmoded, haphazard processes.

OEDS Framework Provides a Blueprint for Structuring and Consuming Employment Data

Without industry standards in place, consumers personal data “ full name, email address, birth date, home address, income information “ can be misused or reported inaccurately during important transactions, which can negatively affect individuals daily lives. In addition, some people have more robust employment records available, giving them a disproportionate advantage with financial institutions. A lack of standards also contributes to unequal access to credit for gig workers and 1099 employees, as compared to W-2 employees. According to Pew Research, 79% of Americans say they are not too or not at all confident that companies will admit mistakes and take responsibility if they misuse or compromise personal information, and 69% report having this same lack of confidence that firms will use their personal information in ways in which they will be comfortable.

OEDS aims to grow long-term trust across the industry, maintaining standards for employee records that span four pillars:

  • Data Specification: OEDS has meticulously curated 200 data fields and capabilities across data providers to create a common standard for anyone creating, storing, transmitting or leveraging employment data.
  • Industry Coverage: The fragmented landscape of employment data holders requires multiple integrations with employers or payroll platforms. OEDS spans Fortune 500 companies, payroll and gig platforms.
  • Compliance: Security standards are critical enablers of safe storage, transfer and use of employment data. OEDS tracks adherence to important data security standards and how marketplace participants are performing against them.
  • Capabilities: Transparency of capabilities is paramount to a more equitable marketplace. OEDS tracks which employee and industry needs are met by marketplace participants.

Established guidelines are required for transmitting employment records. OEDS provides a draft for such criteria. It reimagines how employee records must be structured so that customers, consumers, employers and employment record processors can leverage a framework that functions across employee types and geographies.

With unemployment rates at a record high during the pandemic and more workers relying on the gig economy for jobs, standardized access to loans and other forms of financial support has never been more necessary. Our mission is to build a standard for anyone creating, storing, transmitting or leveraging employment records and encourage fair treatment of employee data by financial institutions, added Fishman.

Become an OEDS Member and Contribute to the OEDS Initiative

Argyle invites members who share the desire to build a new standard for employee records usable by everyone to join OEDS. To get involved, apply at oeds.org.

About Argyle

Argyle is building the first user-consent-based software gateway to employment data, helping people avoid situations where their personal information is sold or used without their consent or knowledge. With Argyle, any business can process income and work verifications, gain real-time transparency into earnings as well as view and update worker profile details. By removing the barriers between a worker, the companies they make money from, and the business they buy services and products from, Argyle has reimagined how employment data can be used.

Diana Brodskiy

Bhava Communications for Argyle

[email protected]

415-306-6199

News

Celanese Announces Engineered Materials Price Increases

gbafNews28

Celanese Corporation (NYSE: CE), a global chemical and specialty materials company, today announced price increases on its portfolio of engineered materials in response to strengthening demand for its products and increased transportation, energy and raw material prices. The price increases below will be effective for orders shipped on or after February 1, 2021, or as contracts otherwise allow.

Product

Global

GUR

$0.25 kg

PA 66

$0.30 kg

PA 6

$0.20 kg

PBT

$0.20 kg

Technical TPE

$0.15 kg

PP, LFT & Amorphous

$0.30 kg

POM

$0.20 kg

Individual grades may be subject to higher increases than specified above.

Celanese is a leading supplier of engineered materials and the only supplier with global production facilities providing local supply to all regions of the world. Celanese continues to support its customers globally with a growing specialty portfolio of engineering polymers and functionalized grades. The company is committed to enhancing its specialty product offerings and capabilities through ongoing investments in compounding assets, technologies, and product and application expertise.

Customers should contact their Celanese account manager for more information.

About Celanese

Celanese Corporation is a global chemical leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. Our businesses use the full breadth of Celanese’s global chemistry, technology and commercial expertise to create value for our customers, employees, shareholders and the corporation. As we partner with our customers to solve their most critical business needs, we strive to make a positive impact on our communities and the world through The Celanese Foundation. Based in Dallas, Celanese employs approximately 7,700 employees worldwide and had 2019 net sales of $6.3 billion. For more information about Celanese Corporation and its product offerings, visit www.celanese.com or our blog at www.celaneseblog.com.

Celanese Contacts:

Investor Relations

Brandon Ayache

+1 972 443 8509

[email protected]

Media Relations – Global

W. Travis Jacobsen

+1 972 443 3750

[email protected]

Media Relations Europe (Germany)

Petra Czugler

+49 69 45009 1206

[email protected]

Continue Reading

News

American Campus Communities Announces Quarterly Dividend

gbafNews28

American Campus Communities, Inc. (NYSE: ACC), the nations largest owner and manager of high-quality student housing properties in the U.S., announced that on January 18, 2021 its Board of Directors declared a regular quarterly dividend of $0.47 per share of common stock, payable on February 19, 2021, to shareholders of record at the close of business on January 28, 2021.

About American Campus Communities

American Campus Communities, Inc. is the largest owner, manager and developer of high-quality student housing communities in the United States. The company is a fully integrated, self-managed and self-administered equity real estate investment trust (REIT) with expertise in the design, finance, development, construction management and operational management of student housing properties. As of September 30, 2020, American Campus Communities owned 166 student housing properties containing approximately 111,900 beds. Including its owned and third-party managed properties, ACC’s total managed portfolio consisted of 204 properties with approximately 139,900 beds. Visit www.americancampus.com.

Forward-Looking Statements

In addition to historical information, this press release contains forward-looking statements under the applicable federal securities law. These statements are based on managements current expectations and assumptions regarding markets in which American Campus Communities, Inc. (the Company) operates, operational strategies, anticipated events and trends, the economy, and other future conditions. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. These risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward looking-statements include those related to the COVID-19 pandemic, about which there are still many unknowns, including the duration of the pandemic and the extent of its impact, and those discussed in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2019 under the heading Risk Factors and under the heading Business – Forward-looking Statements and subsequent quarterly reports on Form 10-Q. We undertake no obligation to publicly update any forward-looking statements, including our preleasing activity or expected full year 2020 operating results, whether as a result of new information, future events, or otherwise.

Ryan Dennison

Investor Relations

(512) 732-1000

Continue Reading

News

Amkor Technology to Announce Fourth Quarter and Full Year 2020 Financial Results on February 8, 2021

gbafNews28

Amkor Technology, Inc. (Nasdaq: AMKR), a leading provider of semiconductor packaging and test services, today announced that it will issue its financial results for the fourth quarter and full year 2020 after the close of trading on the NASDAQ Global Select Market on Monday, February 8, 2021. Amkor management will host a conference call to discuss the company’s financial results at 5:00 p.m. Eastern Time on Monday, February 8, 2021.

The conference call can be accessed at Amkor’s website: www.amkor.com. You may also access the call by dialing 1-877-407-4019 or 1-201-689-8337. A replay of the call will be made available at Amkor’s website or by dialing 1-877-660-6853 or 1-201-612-7415 (conference ID 13715048).

About Amkor Technology, Inc.

Amkor Technology, Inc. is one of the worlds largest providers of outsourced semiconductor packaging and test services. Founded in 1968, Amkor pioneered the outsourcing of IC packaging and test and is now a strategic manufacturing partner for the worlds leading semiconductor companies, foundries and electronics OEMs. Amkors operational base includes production facilities, product development centers, and sales and support offices located in key electronics manufacturing regions in Asia, Europe and the USA. For more information, visit www.amkor.com.

Vincent Keenan

Vice President, Investor Relations

480-786-7594

[email protected]

Continue Reading
Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.

Call for Entries

Global Banking and Finance Review Awards Nominations 2021
2021 Awards now open. Click Here to Nominate

Latest Posts

gbafNews28 gbafNews28
News31 mins ago

Celanese Announces Engineered Materials Price Increases

Celanese Corporation (NYSE: CE), a global chemical and specialty materials company, today announced price increases on its portfolio of engineered...

gbafNews28 gbafNews28
News44 mins ago

American Campus Communities Announces Quarterly Dividend

American Campus Communities, Inc. (NYSE: ACC), the nations largest owner and manager of high-quality student housing properties in the U.S.,...

gbafNews28 gbafNews28
News1 hour ago

Amkor Technology to Announce Fourth Quarter and Full Year 2020 Financial Results on February 8, 2021

Amkor Technology, Inc. (Nasdaq: AMKR), a leading provider of semiconductor packaging and test services, today announced that it will issue...

gbafNews28 gbafNews28
News1 hour ago

Alera Group Acquires CSNW Benefits

DEERFIELD, Ill. and PORTLAND, Ore., Jan. 18, 2021 /PRNewswire-PRWeb/ — Alera Group, a leading national insurance and financial services firm, today...

gbafNews28 gbafNews28
News1 hour ago

Summit Hotel Properties Announces Fourth Quarter And Full Year 2020 Earnings Release Date

AUSTIN, Texas, Jan. 18, 2021 /PRNewswire/ — Summit Hotel Properties, Inc. (NYSE: INN) (the “Company”) today announced that it will...

gbafNews28 gbafNews28
News1 hour ago

Planswell Fills C-Suite with Eye Towards Global Expansion

Early US success ignites drive to Latin America, Asia     TORONTO, Jan. 18, 2021 /PRNewswire/ – Planswell,  the Toronto-based startup...

gbafNews28 gbafNews28
News1 hour ago

Hawaiian Electric Industries To Announce Fourth Quarter And Full Year 2020 Results And 2021 Earnings Guidance Feb. 16; American Savings Bank To Announce 2020 Results Jan. 29

HONOLULU, Jan. 18, 2021 /PRNewswire/ — Hawaiian Electric Industries, Inc. (HEI) (NYSE: HE) will announce its fourth quarter and full...

gbafNews28 gbafNews28
News1 hour ago

Transom Consulting Group Announces the Promotion of Paul Yoo to Partner

LOS ANGELES, Jan. 18, 2021 /PRNewswire/ — Transom Consulting Group, a leading strategy and operational excellence consultancy and investment bank, announced...

gbafNews28 gbafNews28
News1 hour ago

Granite REIT Declares Distribution for January 2021

Granite Real Estate Investment Trust (Granite) (TSX: GRT.UN / NYSE: GRP.U) announced today that its board of trustees has declared...

gbafNews28 gbafNews28
News1 hour ago

Suncity Group Announces 2021 Outlook

Striding Towards a Bright Future   MACAU – Media OutReach – 5 January 2021 – Under the impact of the COVID-19 pandemic, 2020...