Connect with us

News

Mitigram Releases ‘Open Market DISCOVERY’

gbafNews28
  • In another digital first, Mitigram has launched Open Market DISCOVERY, a smart tool to enable users (corporations and banks) to discover partners willing to provide trade finance that matches a specific transaction
  • These partners have already covered risks of over 1,000 banks, from 100 markets, supporting over $50b of trade finance requests on the Mitigram platform

SINGAPORE, Sept. 16, 2020 /PRNewswire/ — Mitigram has released Open Market DISCOVERY; a significant new module that will further democratise trade finance by helping corporates, traders and banks to build global networks, access new relationships and originate new trade transactions.

With over 200 registered banks and corporates, Mitigram has the largest network of any trade finance platform. As Benoît Steinbach, Managing Director for Corporate Sales at Mitigram describes, "Open Market DISCOVERY is a game changer which automates the process of finding risk mitigation and financing for trade transactions for corporates and banks. Now, our subscribers can build new trade finance business opportunities in hard to reach markets, and work with new counterparties that were previously difficult to access."

For Mitigram subscribers, Open Market DISCOVERY seamlessly integrates into existing workflows on the platform, at no additional cost.

Corporations can use Open Market DISCOVERY to find and invite new banks with matching credit appetite to price for trade finance contracts where their existing banking partners may not have capacity. Mitigram’s Open Market DISCOVERY module is unique and will significantly expand existing networks of relationships and help to ensure continuous business flows.  

For financial institutions, Open Market DISCOVERY is a tool to drive new business and to build trade assets at no extra cost. In July, The International Chamber of Commerce (ICC) released its 2020 Global Survey on Trade Finance, which found that 77% of bank respondents surveyed plan to transition trade finance to digital as a way to grow their businesses. 70% of respondents felt that it was their most urgent priority.

"For banks, Open Market DISCOVERY is an origination tool," says Steinbach. "Banks are permitted to indicate their risk appetite within the platform, our automated Open Market DISCOVERY extension instantly indicates qualified and new business opportunities to banks that would otherwise find these transactions difficult to source."

The reception from existing Mitigram users has been exceptional. A soft launch of Open Market DISCOVERY to subscribers in mid-August immediately resulted in significant traffic, including a number of substantially-sized, multi-million dollar transactions.

Mitigram is the largest digital market network for trade finance, digitising previously fragmented front office processes. To learn more about Open Market DISCOVERY, visit mitigram.com.

About Mitigram

Mitigram is the leading market network for exporters, traders and financial Institutions to access funding and risk coverage arising from cross-border trade activities. The company’s clients are multinational corporations, leading commodity traders and many of the world’s largest banks. The platform provides access to an extended network of counterparties, supports enhanced compliance processes through its comprehensive automated quotation workflows, and provides all parties with a better understanding of market pricing and capacity.

News

Spraoi's Machine Learning Solution Deployed for Reliance Standard's Retirement Services Operations

gbafNews28

ARDMORE, Pa., Jan. 26, 2021 /PRNewswire/ — Spraoi announced today that Reliance Standard Life Insurance Company (Reliance Standard) successfully deployed models for the identification of operational inconsistencies (e.g. churning, anomalous activity) across new business and in-force transactions within their block of traditional and indexed annuity business. The Spraoi solution now provides visibility into transactions for increased scrutiny for all Reliance Standard's annuity products. The scope of this project was to complete a review of Reliance Standard's historical transactions to develop models that will identify transactions that should be further analyzed. The successful completion of this program provides Reliance Standard with a tool to screen all transactions, increasing safeguards for their customers.

“Taking a proactive stance on the detection of operational anomalies will improve our ability to protect the well-being of our customers,” said Kyle Ryan, Reliance Standard's VP Operations of Retirement Services.  

About Reliance Standard Life Insurance

Reliance Standard Life Insurance Company (Reliance Standard) is a leading insurance carrier offering innovative and flexible employee benefits solutions including disability income and group term life insurance, a suite of voluntary (employee paid) coverage options and fully integrated absence management through its Employee Benefits segment. Through its Retirement Services segment, Reliance Standard offers a portfolio of traditional fixed and indexed annuities to individuals seeking to preserve capital and retirement income with guaranteed returns as well as fixed and floating rate institutional funding agreements. Rated A++ (Superior) by A.M. Best and A (Excellent) Standard & Poor's, Reliance Standard began its centennial year in 2006.

About Spraoi

Spraoi is a Pennsylvania limited liability company. Spraoi is the provider of machine learning platform and solutions to solve the challenges our insurance clients face as they seek to gain greater insight into their data. Visit: www.spraoi.ai

Cision View original content:http://www.prnewswire.com/news-releases/spraois-machine-learning-solution-deployed-for-reliance-standards-retirement-services-operations-301215456.html

SOURCE Spraoi

Continue Reading

News

Call for Entries: Teen Video Contest Underway at Burke & Herbert Bank

gbafNews28

ALEXANDRIA, Va., Jan. 26, 2021 /PRNewswire/ — Burke & Herbert Bank is accepting submissions for its 2021 Lights, Camera, Save! video contest until March 1, 2021. Teens, 13-18 years old, can win cash prizes, including a top prize of $5,000 by creating a 30-second video promoting wise money management.

The contest, organized by the American Bankers Association Foundation, is a national competition that encourages teens to use video to communicate the value of sound money management and inspire their peers to become lifelong savers.

Burke & Herbert Bank will host the first round of judging and select a winner to compete on the national level for cash prizes: $5,000 for first place, $2,000 for second place and $1,000 each for two runners-up. Burke & Herbert Bank is rewarding regional winners with $350, $100, and $50, respectively, as well as awarding a $50 gift card to each of their sponsoring teachers.

“Lights, Camera, Save! gives Northern Virginia students an opportunity to harness their creativity and learn about using money wisely,” said Terry Cole, Executive Vice President at Burke & Herbert Bank. “It is so important, especially in today's challenging economic environment, for teens to learn the value of establishing sound financial habits. This video contest provides a fun and unique way to encourage teens to build these habits to motivate each other.”

To participate, teens must submit a completed entry form along with a link to their original video by March 1. The contest is open to filmmakers of all experience levels. Videos will be judged on their quality, message, and the criteria set forth by the contest's official rules. For full rules and entry form, visit burkeandherbertbank.com. To learn more about Lights, Camera, Save!, visit lightscamerasave.com.

Burke & Herbert Bank & Trust Company, established in 1852, is the oldest bank in the Commonwealth of Virginia and the oldest continuously operating bank in the Washington DC area. The Bank offers a full range of personal and business banking products and services designed to meet customers' banking, borrowing, and investing needs. Burke & Herbert Bank & Trust Company is headquartered in Alexandria and operates more than 20 branches in Northern Virginia.

Member FDIC

CONTACT: 

Jane Petty

 

703-216-5491 

 

CisionView original content to download multimedia:http://www.prnewswire.com/news-releases/call-for-entries-teen-video-contest-underway-at-burke–herbert-bank-301215459.html

SOURCE Burke & Herbert Bank

Continue Reading

News

Industry Veteran Allyson McKay to Lead Embrey Management Services Division

gbafNews28

SAN ANTONIO, Texas, Jan. 26, 2021 /PRNewswire/ — Allyson McKay, a seasoned executive in national property management, has been named Managing Director, Executive Vice President for Embrey Management Services. She takes over divisional leadership and operational duties previously held by Cindy Ash, who retired in December 2020.

“Allyson is an experienced professional with strong and proven skills leading property management teams,” said Trey Embrey, President and CEO of Embrey. “Our property management division is an important cornerstone – along with our investment, development and construction divisions – and we are delighted to welcome Allyson to our leadership team.”

Before Embrey, McKay was Senior Vice President for Lincoln Property Company, responsible for its Southwest and West regions including Texas, Arizona, California and Colorado. She has also served as Vice President for the Central Texas Region at Lincoln, and as Operations Manager for Fort Hood Family Housing, where she helped guide the privatization of military housing. She was Executive Director of Lincoln's partnership with the Army at Fort Sam Houston in San Antonio.

“Embrey is nationally known for its high-quality properties and creating places where people want to be,” McKay said. “Our management services division is an award-winning provider of residential services for properties.”

McKay attended the University of Oklahoma and Oklahoma State University and earned the Certified Property Management designation from The Institute of Real Estate Management.  McKay was the 2015 President of the San Antonio Apartment Association and is currently serving as a Texas Apartment Association Board delegate and a voting member of the TAA Legislative Committee.

About Embrey Partners, Ltd.
San Antonio-based Embrey Partners, Ltd., is a diversified real estate investment company that owns, develops, builds and manages multifamily and commercial assets in targeted markets across the United States. Since 1974, Embrey has developed more than 41,000 apartments and over 6 million square feet of commercial property. Embrey is one of the leading developers in the multifamily sector, with approximately 6,000 units under construction or in development. www.embreydc.com

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/industry-veteran-allyson-mckay-to-lead-embrey-management-services-division-301215460.html

SOURCE Embrey

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
News34 mins ago

Spraoi's Machine Learning Solution Deployed for Reliance Standard's Retirement Services Operations

ARDMORE, Pa., Jan. 26, 2021 /PRNewswire/ — Spraoi announced today that Reliance Standard Life Insurance Company (Reliance Standard) successfully deployed...

gbafNews28 gbafNews28
News34 mins ago

S&P Global Ratings Takes Multiple Rating Actions On Major Oil And Gas Companies To Factor In Greater Industry Risks

LONDON, Jan. 26, 2021 /PRNewswire/ — Following S&P Global Ratings' review of future and prevailing risks and uncertainties for the exploration...

gbafNews28 gbafNews28
News34 mins ago

American Academy of Actuaries Examines COVID-19's Potential Impacts on Long-Term Care Insurance

WASHINGTON, Jan. 26, 2021 /PRNewswire/ — A new issue brief from the American Academy of Actuaries applies actuarial expertise to provide an...

gbafNews28 gbafNews28
News34 mins ago

Industry Veteran Allyson McKay to Lead Embrey Management Services Division

SAN ANTONIO, Texas, Jan. 26, 2021 /PRNewswire/ — Allyson McKay, a seasoned executive in national property management, has been named...

gbafNews28 gbafNews28
News34 mins ago

Call for Entries: Teen Video Contest Underway at Burke & Herbert Bank

ALEXANDRIA, Va., Jan. 26, 2021 /PRNewswire/ — Burke & Herbert Bank is accepting submissions for its 2021 Lights, Camera, Save! video...

gbafNews28 gbafNews28
News44 mins ago

Hawai'i's Rental Assistance Program Distributed The Most Housing Support Per Capita In 2020

HONOLULU, Jan. 26, 2021 /PRNewswire/ — 13,709 Hawai'i households were assisted by the state's Rent Relief and Housing Assistance Program (RRHAP),...

gbafNews28 gbafNews28
News44 mins ago

One Equity Partners Open Water I Corp. Closes $345 Million Initial Public Offering

NEW YORK, Jan. 26, 2021 /PRNewswire/ — One Equity Partners Open Water I Corp. (the “Company”), a blank check company sponsored by...

gbafNews28 gbafNews28
News44 mins ago

2020 Savings on Auto Loan Refinancing Among Highest on Record

AUSTIN, Texas, Jan. 26, 2021 /PRNewswire/ — RateGenius, a fintech company with a proprietary consumer-lending platform, released their annual study revealing...

gbafNews28 gbafNews28
News44 mins ago

Everything But the House Announces Five Year Growth Plan

CINCINNATI, Jan. 26, 2021 /PRNewswire/ — Everything But the House (EBTH), a full-service consignment and e-commerce marketplace for pre-owned goods...

gbafNews28 gbafNews28
News44 mins ago

Food Tech Startup, Foodspace, Featured as a Strategic Partner in the Shopper Centric Retail Model at the Food Industry Association

BOSTON, Jan. 26, 2021 /PRNewswire-PRWeb/ — Foodspace (https://foodspacetech.com/), which helps brands and retailers use the most accurate and consistent product...