Next Group Holdings, Inc. (OTCQB: NXGH) (the “Company” or “NGH”), a FinTech service provider delivering mobile banking, credit and telecommunications to the underbanked and underserved population, has announced its corporate name and identity will change to CUENTAS, INC. The website for Cuentas is http://www.cuentas.com and the Company is planning on requesting a symbol change to CUEN.
The name Cuentas and associated FinTech product branding provide an invitation and connection to Spanish speaking communities. Development of this brand name was done with our marketing partner, a major advertising and branding organization. For more information on this partnership please see https://www.otcmarkets.com/stock/NXGH/news/Next-Group-Holdings-Announces-Strategic-Partnership-with-CPB?id=129739
NGH has been developing the Fintech / Telecommunications integration for the past nine years. It became clear that digital / virtual banking was becoming mainstream but was still an incomplete solution and was not able to reach nor provide the solutions required by the unbanked, underbanked and underserved populations in the USA. The estimated 2015 Hispanic population in the US was greater than 56 million people and the total estimated underbanked and underserved US population is greater than 70 million people.
The basic philosophy was to capitalize on the experience and knowledge gained from providing telecommunications services to recently immigrated populations in the USA who needed to maintain family and business ties back in their native country. These communities require a wide variety of financial, commercial and communications services to become part of the US economy and society.
“I am very pleased to share the new vision for our Cuentas FinTech project which has been in development for many years now and should begin to create new revenues and profits for our Company and shareholders,” stated Arik Maimon, CEO & Founder of NGH. “We continue to add more services and capabilities as our mobile wallet integration continues to expand,” added Maimon.
“The Cuentas banking and consumer services should bring new financial and social benefits to the forgotten segments of the US population – namely the underbanked and under serviced populations, helping to bring them into mainstream commerce, banking and communications,” stated Michael De Prado, President & Founder of NGH. “Cuentas has partnered with a US nationwide leading prepaid financial institution to provide services to our current and prospective client base,” added De Prado. For more information, please see https://www.otcmarkets.com/stock/NXGH/news/Next-Group-Holdings-Extends-Agreement-With-InComm-Financial-Services-Paves-the-Way-for-Program-Growth-and-Enhanced-Custo?id=147795
“Changing the branding to Cuentas should be key to developing the Hispanic market in the US for the Prepaid General Purpose Reload (GPR) cards, Gift Cards and other FinTech products & Services,” stated Jeff Lewis, President of Jeff Lewis Advisory and an advisor to the Board of NGH.
“The corporate rebranding to Cuentas should be instrumental to help raise awareness, value and marketability of the company as it enhances its offerings into this exciting FinTech marketplace,” stated Adiv Baruch, NGH Board Member, Chairman of HI-Tech at The Israel Export & International Cooperation Institute and Board member of many high tech companies.
ThinkEquity, a division of Fordham Financial Management, Inc., is an advisor to NGH.