WOOTRADE Announces Strategic Partnership with Injective Protocol

NEW YORK, NY, Jun 12, 2020 – (ACN Newswire) – Injective Protocol officially announces a strategic partnership with WOOTRADE, a leading digital asset dark pool, to combine resources to focus on increasing user adoption in the Decentralized Exchanges (DEX) space. The collaboration will bring together a series of initiatives such as implementing liquidity management, designing crypto asset derivative products and markets, and establishing an international corporate brand.





Decentralized Exchanges (DEX) are one of the most widely talked about topics in Decentralized Finance (DeFi). It is often considered to be the inevitable next evolution of digital asset exchanges due to addressing the growing problems with centralized exchanges such as the lack of transparency in transactions and frequent loss of assets due to hacking or becoming victims to social engineering.

Injective Protocol is a decentralized layer-2 peer-to-peer protocol that aims to enable fast and secure perpetual swaps, futures, leverage and spot transactions on Ethereum. The partnership will facilitate the transaction by leveraging WOOTRADE's transaction depth of 100 BTC with a spread of 0.05%. This liquidity stems from the in-depth aggregation of major exchanges, and the support of quantitative investment research institution Kronos Research for market-making strategies. Kronos has a daily transaction volume of $1 billion. In order to provide sufficient liquidity, WOOTRADE will also provide a low rate of 0% for connected exchanges, which saves hedge costs for exchanges. All in all, this collaborative effort will lead to a paradigm shift in the DeFi world.

WOOTRADE was incubated by Kronos Research, a leading quantitative investment research institution, and is funded by distributed capital from DFund, SNZ, Hashkey, as well as vector capital investment. The dark pool has a team that brings extensive experience in trading crypto assets and secondary assets. The top institutional trader has the technical expertise to manage high-level crypto market derivative products. Injective Protocol's derivatives protocol and technology-driven ecology can provide institutional traders, such as Kronos Research, with the ideal environment and conditions for the fastest, safest and most fair service for its markets and products.

About Injective Protocol

Founded in 2018, Injective Protocol is a fully decentralized, front-running proof layer-2 decentralized exchange. The protocol is based on the Cosmos-SDK and Ethereum network that integrates a verifiable delay function (VDF) to prevent transaction fraud and front-running. Along with early incubation by Binance Labs, they have received support from other top-tier international investment firms.

For More Information:
Website: http://www.injectiveprotocol.com.
Twitter: https://twitter.com/InjectiveLabs
Medium: http://medium.com/injective-labs/
Telegram: https://t.me/joininjective
Press Contact: hello@magicfew.com


Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Tiger Trade Launches SGX Trading to Meet Increased Demand from Singapore and Southeast Asian Investors

SINGAPORE, Jun 10, 2020 – (ACN Newswire) – Tiger Trade, a one-stop mobile and online trading application by Tiger Brokers, launches access to the Singapore Exchange (SGX) today. This adds to Tiger Brokers' current list of stock exchanges, such as the New York Stock Exchange (NYSE) and the Nasdaq Stock Market (NASDAQ), the world's two largest stock exchanges by market capitalisation of listed companies, as well as the Hong Kong Stock Exchange (HKEX).






It strengthens Tiger Trade's online and mobile offerings for its customers, who now have the ability to invest in financial instruments such as A-Shares, Equities, Exchange-Traded Funds (ETFs), Futures and Stock Options.

Tiger Trade's app launched in February 2020 and has seen increasing traction among retail investors since. From March to April 2020, Tiger Brokers saw almost a doubling (195%) of the number of accounts opened in one month, with a transaction volume increase of 345% in the same period – a testament to the strong interest and financial-savviness of Singapore retail investors. It enhanced available investment opportunities through integrating SGX opportunities to investors on the back of surging investment interest even in the midst of a global economy affected by COVID-19. SGX has seen the total securities market turnover higher by 35% year-on-year in April this year, per its data.

Mr Wu Tianhua, CEO of Tiger Brokers, said, "Despite the COVID-19 pandemic and economic uncertainty, Singapore's financial markets remain competitive and well positioned for sustained growth. We saw that the recent market announcements from banks, US-based tech companies, as well as the recent AGM from Warren Buffet, showed increased interest and appetite for investing. Tiger Brokers believes that this is a good time to expand our services to align with the interest of our users. Our goal is to offer our users the options to manage or diversify their portfolio while providing them with latest news updates around trading behaviour globally on our platform."

About 25% of Tiger Trade's users are based around the region and outside of Singapore, who are taking advantage of the platform's online account opening feature and ability to trade in the US and HK equities through a mobile platform. Most of these users come from Malaysia, Indonesia and India. The launch of SGX on the platform will also allow them access to one of the most vibrant exchanges in the world, alongside current access to the New York Stock Exchange (NYSE), NASDAQ, and Hong Kong Stock Exchange.

Mr Eng Thiam Choon, CEO of Tiger Brokers (Singapore), said, "Many retail investors are hearing about share prices and global markets on the news, which have helped increase their interest in trading. However, we generally advise our users and retail investors to do a lot more research on what they are about to purchase and on how companies fare a few months before the pandemic. Our app provides our users with up-to-date stock quotes, market data and news – information which keeps them abreast of the economic landscape in trading, aiding them in making informed decisions."

The Tiger Trade app offers its retail investors one of the lowest commission rates for as low as US$1.99 (S$2.80) per trade. From now till 31 December 2020, they are offering commission rates for Singapore stocks at 0.08% per trade with no minimum charges.

Their easy-to-use app also provides complimentary real-time stock quotes, 24/7 news updates, artificial intelligence-driven data screeners, and easy-to-analyse trading charts. Users can easily add in an account, linking to their preferred local banks for deposit and withdrawals and reducing the brokerage fees when trading on the US and Hong Kong markets.

Tiger Brokers also plan to provide access to Contract for Differences (CFDs) by Q1 2021 to its users, providing them with the capability to diversify their portfolio through an entire range of investment options across certain markets.

The Tiger Trade mobile application is available for download in the Apple App store and Google Play store.
Apple App store: https://apps.apple.com/sg/app/id1023600494
Google Play store: https://play.google.com/store/apps/details?id=com.tigerbrokers.stock

About Tiger Brokers (Singapore) Pte Ltd

Tiger Brokers Singapore Pte Ltd (Tiger Brokers Singapore) is a brokerage firm operating with a Capital Markets Services (CMS) Licence from the Monetary Authority of Singapore (MAS). Its trading platform, Tiger Trade, offers commission rates for as low as S$2.80 (US$1.99) per trade, complimentary real-time stock quotes, dedicated multilingual customer service during trading hours, and 24/7 finance news updates. The company launched the mobile version of Tiger Trade in February 2020 – accessible in Google Play Store and the Apple App Store – offering a mobile-savvy generation of retail investors similar trading opportunities as their online users, such as Equities, Exchange-Traded Funds (ETFs), Futures and Stock Options on their mobile phones. Both online and mobile app users have access to the Singapore, U.S. and Hong Kong stock markets such as the New York Stock Exchange (NYSE), NASDAQ, the Hong Kong Stock Exchange (HKEX) and the Singapore Stock Exchange (SGX). (www.tigerbrokers.com.sg/help/detail/SGXstocksfeestructure).

Tiger Brokers Singapore is the Singapore entity of UP Fintech Holding Limited, known as "Tiger Brokers" in Asia, a leading online brokerage firm focusing on global investors. Founded in 2014, Tiger Brokers became #1 in U.S. equity trading by volume among trading platforms catered to Global Chinese investors in less than two years. Tiger Brokers was awarded "2017 Fintech 250" by CB Insights and shortlisted for "China Leading Fintech 50" for two years in a row by KPMG China. The company was listed on NASDAQ under "TIGR" in 2019 and has offices in China, United States, Australia, New Zealand and Singapore. Tiger Brokers has over 743,300 customers worldwide currently, with a total trading volume of more than US$44.1 billion in Q1 2020. The company is backed by well-known investors such as Xiaomi, as well as investment guru Jim Rogers. For more information, please visit https://www.tigerbrokers.com.sg

For media enquiries, please contact:
PRecious Communications for Tiger Brokers (Singapore)
Email: Tiger@preciouscomms.com
Phone: +65 9667 3157 or +65 9152 0086


Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

OmniSci Records Best Quarter in Company History

SINGAPORE, May 20, 2020 – (ACN Newswire) – OmniSci, the pioneer in accelerated analytics, announced today that the company posted its highest-ever revenue for a quarter, closing deals with major new customers, strengthening key partnerships, and expanding the company's global reach. OmniSci's strong Q1 performance provides significant momentum for Q2 and beyond.

Following the company's expansion into Europe last year, in April, OmniSci expanded into Asia to meet growing global demand for its analytics capabilities. The company brought Joseph (Joe) Lee on board as VP of Global Sales and welcomed Herfini Haryono, former CTIO at PT Telkomsel and CIO at Indosat Ooredoo in Indonesia, to the team as VP of Industry Verticals. These experienced executives and their teams have already signed the first customers in the region and are providing local support to new and existing customers.

The company's revenue growth was fueled by major wins with new and expansion customers, including Procter & Gamble, HERE Technologies and the utility company Avangrid. OmniSci also announced a deeper partnership with Z by HP to accelerate data-driven workflows and make the Z8 – the world's most powerful workstation – even more appealing by offering it preloaded with the OmniSci platform, giving data scientists instant access to unprecedented analytics power.

"It's been incredible to see how leading organizations in both the commercial and public sectors are adopting our platform to gain an analytical edge," added OmniSci CEO and Co-Founder Todd Mostak. "Whether in telco, retail and CPG, utilities, or government, our customers need speed-of-thought answers from ever-growing volumes of data. The OmniSci accelerated analytics platform empowers them to leverage all of that data with unprecedented agility, and to make better, more timely business decisions than ever possible with legacy tools. We see a tremendous opportunity ahead to expand the market's idea of what is possible when it comes to analytics, and in the process, help build a more data-driven world."

"OmniSci's mission – to make analytics instant, powerful, and effortless for everyone – has never been more relevant. These results show that their technology is meeting that goal," said Kristina Serafim, Managing Director, Verizon Ventures. "As one of our portfolio companies, we support OmniSci's mission to find insights in data at the heart of the most pressing challenges."

In OmniSci's first quarter, the company also engaged in the public fight against COVID-19, providing their platform to research teams across the country through the OmniSci for Good program. Every federal, state and local government is working to cope with COVID-19 and the massive amounts of data involved, and OmniSci helps these organizations make smarter, data driven decisions. Working closely with data partners including X-Mode, SafeGraph, and Veraset, OmniSci showcased through blogs and videos how data can be used to address the core challenges of the next phase of the COVID-19 fight, including hotspot detection, social distancing, and logistics.

Demand within OmniSci's community of developers, researchers and users also grew in the first quarter. When the virus outbreak made in-person events and conferences unsafe, the OmniSci team pulled together two virtual summits on short notice, to keep their active community well connected. These virtual events included dozens of hours of fresh content, and were attended by more than 1,000 people. The next virtual summit is scheduled for May 19-20, 2020, featuring more new demos, webinars and on-demand sessions.

"OmniSci is growing quickly and globally by delivering strong business outcomes for our clients," said Joe Lee. "We are committed to continuing to bring the best solution and support to our clients while we continue our global expansion. We have a unique solution for interactive geospatial analytics that is very valuable in the telecommunications industry, and plugs a significant gap in current big data environments."

About OmniSci

OmniSci is the pioneer in accelerated analytics. The OmniSci platform is used in business and government to find insights in data beyond the limits of mainstream analytics tools. Harnessing the massive parallelism of modern CPU and GPU hardware, the platform is available in the cloud and on-premise. OmniSci originated from research at Harvard and MIT Computer Science and Artificial Intelligence Laboratory (CSAIL). OmniSci is funded by GV, In-Q-Tel, New Enterprise Associates (NEA), NVIDIA, Tiger Global Management, Vanedge Capital and Verizon Ventures. The company is headquartered in San Francisco. Learn more about OmniSci at www.omnisci.com.

Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Trintech Releases 2020 Global Record to Report Benchmark Report

DALLAS, TX / ACCESSWIRE, May 13, 2020 – (ACN Newswire) – Trintech, a leading provider of financial software solutions, today announced the release of its 2020 Global Record to Report Benchmark Report. Trintech surveyed almost 200 enterprise companies across 31 countries through January 2020 to evaluate which parts of the Record to Report (R2R) process have been automated, which are in the process of being automated and where finance and accounting (F&A) organizations are looking to adopt automation in the future.

Key findings from the survey on the trends in R2R automation include:
– Reconciliations are currently the single biggest challenge for F&A organizations
– A growing number of organizations identify a lack of standardization across all processes as their main roadblock to efficiency
– Looking ahead to 2025, respondents expect their biggest challenges will be personnel related, as attracting and retaining talent becomes more critical

"Automating low-value, repetitive tasks completed by the office of finance is finally starting to gain traction – we see the interest in the benefits of financial automation growing each year," said David King, Chief Marketing Officer at Trintech. "These insights show that there is a huge potential for organizations to achieve significant ROI through the implementation of automation technology. Now, more than ever, organizations are looking for ways to be more efficient, while increasing transparency and ensuring data integrity as part of their month end or quarter end close. The office of finance is providing insights almost daily now that are crucial for business decisions across every industry."

In terms of organizations' current automation practices, only 20% of respondents have "Established" or "Advanced" automation in place. The report's findings also show that most organizations are at least starting the move towards automating some parts of their office of finance, and there are few laggards that have not started implementing automation at all.

"Organizations need to spend more time understanding risk and less time managing data – approaches that deliver that efficiently and effectively, and drive quality into the process, have immense value," said Jim O'Connor, Managing Principal Advisory Practice at The Hackett Group.

To dive into the results of this benchmark report further, Trintech and The Hackett Group will be hosting a joint webinar, How to Prepare Your Organization for the Future of Financial Automation, on Thursday, May 14th, to give companies insight into topics such as:
– The biggest challenges for the month end process
– Roadblocks to having the most efficient process
– The maturity of financial close automation
– Key areas to focus on improving by 2025

Read the full Record to Report (R2R) Benchmark Report here. https://pr.report/H8G3eY14

About Trintech

Trintech Inc., a pioneer of Financial Corporate Performance Management (FCPM) software, combines unmatched technical and financial expertise to create innovative, cloud-based software solutions that deliver world-class financial operations and insights. From high volume transaction matching and streamlining daily operational reconciliations, to automating and managing balance sheet reconciliations, intercompany accounting, journal entries, disclosure reporting and bank fee analysis, to governance, risk and compliance – Trintech's portfolio of financial solutions, including Cadency(R) Platform, Adra(R) Suite, and targeted tools, ReconNET(TM), T-Recs(R), and UPCS(R), help manage all aspects of the financial close process. Over 3,500 clients worldwide – including the majority of the Fortune 100 – rely on the company's cloud-based software to continuously improve the efficiency, reliability, and strategic insights of their financial operations.

Headquartered in Dallas, Texas, Trintech has offices located across the United States, United Kingdom, Australia, Singapore, France, Germany, Ireland, the Netherlands and the Nordics, as well as strategic partners in South Africa, Latin America and the Asia Pacific. To learn more about Trintech, visit www.trintech.com or connect with us on LinkedIn, Facebook and Twitter.

About The Hackett Group

The Hackett Group (NASDAQ: HCKT) is an intellectual property-based strategic consultancy and leading benchmarking and best practices firm to global companies, with offerings that include smart automation and enterprise cloud application implementation. Services include business transformation, enterprise analytics, global business services, and working capital management. The Hackett Group also provides dedicated expertise in business strategy, operations, finance, human capital management, strategic sourcing, procurement and information technology, including its award-winning Oracle and SAP practices.

The Hackett Group has completed nearly 18,000 benchmarking studies with major corporations and government agencies, including 93% of the Dow Jones Industrials, 90% of the Fortune 100, 80% of the DAX 30 and 57% of the FTSE 100. These studies drive its Best Practice Intelligence Center(TM) which includes the firm's benchmarking metrics, best practices repository and best practice configuration guides and process flows, which enable The Hackett Group's clients and partners to achieve world-class performance.

More information on The Hackett Group is available at: www.thehackettgroup.com, info@thehackettgroup.com, or by calling (770) 225-3600.

Media Contact:
Adrienne Kim
Vested
617-898-8155
trintech@fullyvested.com

SOURCE: Trintech, Inc.

Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Wowotalent: Harvest twelve years of value over five years

BEIJING, May 11, 2020 – (ACN Newswire) – The global coronavirus pandemic has cast the world economy into turmoil. Undermining the capital markets, investment institutions and investors have become more cautious. The current situation is unpredictable, say investors, and risk in new investment projects has increased significantly. At the same time, they could say that a platform that insists on being responsible for investor funds and caring about the development of entrepreneurial projects is invaluable.





There is such a platform in China, the WOWO Innovation Camp. The platform was established by WOWO (Beijing) Network Technology Company Ltd in June 2019. WOWO has more than 9 years of headhunting industry experience in the real estate and Internet sectors, accumulating significant business resources. WOWO Innovation Camps bring startup entrepreneurs together, pooling resources, providing investment funds, and guiding entrepreneurship to success.

The 1st WOWO Innovation Camp

From August to December 2019, the WOWO (Beijing) Network and Fosun Group successfully hosted the first WOWO Innovation Camp. More than 1,000 young entrepreneurs attended the orientation. 25 projects were guided by the mentors; 11 projects enrolled for bootcamp and 3 projects entered the overseas roadshow Fosun ProTech Innovation Pitch competition. More than 50 well-known Chinese entrepreneurs and investment partners participated in the program, resulting successfully in 28 cooperative commercial and public welfare projects.
During the novel coronavirus outbreak in 2020, startup staff and students worked together to equip the affected areas with more than 2,400 oxygen ventilators.

The 2nd WOWO Innovation Camp

Despite the severity of the global pandemic, WOWO holds to its intention of guiding young entrepreneurs, and the 2nd WOWO Innovation Camp held its orientation on 3 March 2020. This year we have a number of experienced mentors in the Entrepreneurship Academy, offering simultaneous online and offline guidance, along with each mentor's ability to invest and attract investment. WOWO Innovation Camp wants every entrepreneur and investor to get the most out of this platform.

The WOWO Innovation Camp

Participants:
– Entrepreneurs and projects with original and sustainable or socially minded ideas
– Investor Mentors with time and investment or investor raising ability

Schedule:
– Mar to May 2020: Preliminary screening of the project – Online assessment
– May to July 2020: Guidance for offline Enterprises
– Aug to Sept 2020: Project investigation

Venue:
– China (Beijing or Shenzhen)

Projects:
Business innovation award: Sustainable business projects
– Scientific and technological innovation and entrepreneurship projects
– Medical technology innovation and entrepreneurship projects
– Commerce and industry innovation and entrepreneurship projects
Public innovation award: Public welfare projects that solve new social problems

Benefits:
– For entrepreneurs: capital injection, resource allocation, growth and expansion
– For investors: invest in high-quality projects, achieve financial growth, and the honor of investment achievement

Registered:
– Beijing Tiantian Wisdom Technology Co., Ltd. – Chaired by Liang Xiao, a well-known Chinese investor.
– Zhejiang Yiwu Baode Real Estate Development Co., Ltd. – Leading real estate company in Zhejiang, China.
– Henan Dacheng Grain & Oil Group Co., Ltd. – Products sold in China, SE Asia, U.S., Israel and other countries.
– Apollo Box – Building cross-border e-commerce platform, technology to distribute quality products worldwide.
And more…

Replace the traditional '10 + 2' model with the innovative '5 + 2', even '3 + 2', model for rapid and stable financial growth. ['5 + 2' : Capital invests in a project for 5 years, capital exits from a project for 2 years.]
China's top startup projects and unicorn projects are waiting for investors!

Global investment institutions are welcome to join WOWO Investment Camp.

Media contact:
E: li_wang@Wowotalent.com
WeChat: wo15600657291
Telephone: +86 15600657291
U: https://www.Wowotalent.com


Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

HDBank joins Contour Network to improve Letter of Credit issuance

HO CHI MINH CITY, VIETNAM, May 6, 2020 – (ACN Newswire) – HDBank, the Vietnamese-based financial institution, has today joined Contour, the open trade finance network, to increase its ability to extend trade financing to more corporates. This addition to Contour's blockchain-based network further strengthens its offering to the trade finance industry.

HDBank is the latest financial institution to join Contour and marks the first bank in Vietnam to be part of the Contour's trade finance network. This offers an opportunity for Vietnamese corporates to take advantage of the online negotiation and streamlined management of Letters of Credit with counterparties in Asia, Europe, the Middle East, and the USA.

Built on R3's Corda, Contour's network is focused on overhauling the Letter of Credit (LC) issuance process. LCs are traditionally paper-based, time consuming to process and costly to deal with. By digitising LCs on a blockchain network, the processing time and cost involved will be significantly reduced. With the current socio-economic climate, the need for further efficiency in the market has grown even more apparent.

Carl Wegner, CEO, Contour said: "The focus with our network has always been to establish a neutral platform that all different types of banks and corporates can use for trade finance transactions. To fully unlock the potential of what enterprise blockchain can bring to trade finance, banks and corporates need to be able to collaborate and forge new connections. That is the ultimate aim of Contour, and it's something we're continuing to see as we welcome HDBank into the network."

Pham Quoc Thanh, CEO at HDBank, added: "We saw the potential for Contour to revolutionise how we issue LCs and knew it was an opportunity like no other. From working with Carl and his team, we hope to change that, providing increased flexibility with LCs, streamlining the process and providing funds to corporates in a far more efficient manner than ever before. In due course, we look forward to sharing news of transactions taking place on this network."

About Contour

Contour is building the world's open trade finance network. With industry-wide collaboration and blockchain technology, we are dissolving barriers to create seamless trade. Our network of Banks, Corporates and Partners enable the instant flow of trusted data across the world's trade routes and fragmented ecosystems, creating a streamlined future for businesses. Visit www.contour.network.

Media contact:
HDBank
trangntt18@hdbank.com.vn

Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Trintech Extends Reporting Capabilities in Its Adra Suite with the Launch of Adra Analytics

DALLAS, TX / ACCESSWIRE, May 5, 2020 – (ACN Newswire) – As a leading provider of financial software solutions, Trintech today announced the launch of Adra Analytics, extending the reporting capabilities of its Adra Suite. This solution ensures companies have full visibility into their financial data in one consolidated location, giving them a one-stop-shop for all their financial reporting needs.

"Adra Analytics has given us full visibility into the quality and efficiency of our close process," said Wojciech Bec, Financial Controller at Unit4. "We can identify which areas we are doing well, and which areas need improvement. This insight has enabled us to accelerate our financial close process significantly."

With Adra Analytics, organizations can now track the trends and movements of their financial data throughout one period, or over several, to give them greater insight into how their company is maturing. It allows organizations to combine financial data within the Adra Suite with data from other solutions, such as their ERP, through a BI toolkit, to give them complete insight into their month-end alongside non-close related activities. Through customized dashboards organizations gain visibility into high-level summaries of their data and they also provide the ability to deep dive into the details required to analyze how their month-end is impacting the overall company's financials.

"As a leading financial software provider, we know that a company's financial data is mission critical, especially during a time like this," said Darren Heffernan, President, Mid-Market at Trintech. "Finance & Accounting (F&A) organizations are even more integral to their businesses because they have the data that are driving those immediate business decisions. To help provide that real-time visibility into the financials, we are thrilled to announce the launch of Adra Analytics that will help F&A organizations gain those insights quickly to help drive the strategic directions of their organizations."

Currently deployed by over 1,800 companies across the globe, the Adra Suite provides cloud-based, financial close and reconciliation solutions for companies looking to quickly increase the efficiency, control and visibility for all key areas of the financial close process including: balance sheet reconciliations (Adra Balancer), transaction matching (Adra Matcher), financial task management and controls (Adra Task Manager), and reporting (Adra Analytics).

About Trintech

Trintech Inc., a pioneer of Financial Corporate Performance Management (FCPM) software, combines unmatched technical and financial expertise to create innovative, cloud-based software solutions that deliver world-class financial operations and insights. From high volume transaction matching and streamlining daily operational reconciliations, to automating and managing balance sheet reconciliations, intercompany accounting, journal entries, disclosure reporting and bank fee analysis, to governance, risk and compliance – Trintech's portfolio of financial solutions, including Cadency(R) Platform, Adra(R) Suite, and targeted tools, ReconNET(TM), T-Recs(R), and UPCS(R), help manage all aspects of the financial close process. Over 3,500 clients worldwide – including the majority of the Fortune 100 – rely on the company's cloud-based software to continuously improve the efficiency, reliability, and strategic insights of their financial operations.

Headquartered in Dallas, Texas, Trintech has offices located across the United States, United Kingdom, Australia, Singapore, France, Germany, Ireland, the Netherlands and the Nordics, as well as strategic partners in South Africa, Latin America and the Asia Pacific. To learn more about Trintech, visit www.trintech.com or connect with us on LinkedIn, Facebook and Twitter.

Media Contact:
Kelli Shoevlin, Trintech – +1-972-739-1680 or Kelli.Shoevlin@trintech.com

SOURCE: Trintech, Inc.

Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Trintech and The Hackett Group Announce Strategic Partnership to Help Organizations Transform the Close

DALLAS, MIAMI & LONDON / ACCESSWIRE, Apr 23, 2020 – (ACN Newswire) – Trintech, a leading global provider of integrated Record to Report software solutions for the office of finance, and The Hackett Group, Inc. (HCKT), an intellectual property-based strategic consultancy and leading enterprise benchmarking and best practices digital transformation firm to global companies, today jointly announced a strategic alliance to deliver finance solutions that empower organizations to deliver real-time financial intelligence to executives and add strategic value to the enterprise.

"The demand for Record to Report technology solutions continues to grow as finance organizations around the world seek to increase not only the efficiency, but also the effectiveness of their financial close," said David Dungan, Vice Chairman and COO of The Hackett Group. "We believe this strategic partnership with Trintech will offer customers a comprehensive solution that will drive true financial transformation."

With this strategic alliance, Trintech and The Hackett Group will provide CFO and CIO organizations with effective finance processes and technology solutions that optimize efficiencies, visibility, governance and controls across the entire Record to Report process. By improving and automating these operations, Trintech and The Hackett Group will help the office of the CFO reduce costs and risk and allow them to free up valuable resources to refocus their time and effort on other initiatives critical to the business.

"We are confident that organizations committed to digitally enabling and transforming their financial processes will benefit immensely from the combination of Trintech's System of Accounting Intelligence(TM) and The Hackett Group's expertise in helping businesses simplify, standardize, and automate their processes," said Russ Hubbard, Chief Revenue Officer at Trintech. "Together, we aim to help finance organizations become simpler, agile and more efficient."

With this partnership, Trintech's customers will be able to extend and augment the benefits they have experienced from utilizing Trintech's leading Record to Report solution by engaging The Hackett Group's empirical benchmarks, intellectual property, and focused consulting capabilities that detail how companies can improve efficiency and effectiveness and quantify world-class and peer performance. The Hackett Group's research also spotlights strategic thinking in financial transformation strategy, best practices and emerging areas – including the increasing use of digital transformation such as robotic process automation and artificial intelligence.

About The Hackett Group

The Hackett Group (HCKT) is an intellectual property-based strategic consultancy and leading enterprise benchmarking and best practices digital transformation firm to global companies, offering digital transformation including robotic process automation and enterprise cloud application implementation. Services include business transformation, enterprise analytics, working capital management and global business services. The Hackett Group also provides dedicated expertise in business strategy, operations, finance, human capital management, strategic sourcing, procurement and information technology, including its award-winning Oracle and SAP practices.

The Hackett Group has completed more than 15,000 benchmarking studies with major corporations and government agencies, including 97% of the Dow Jones Industrials, 89% of the Fortune 100, 87% of the DAX 30 and 59% of the FTSE 100. These studies drive its Best Practice Intelligence Center(TM) which includes the firm's benchmarking metrics, best practices repository and best practice configuration guides and process flows, which enable The Hackett Group's clients and partners to achieve world-class performance.

More information on The Hackett Group is available at: www.thehackettgroup.com, info@thehackettgroup.com, or by calling +1-770-225-3600.

Hackett Cautionary Statement Regarding "Forward Looking" Statements

This release contains "forward looking" statements within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements including without limitation, words such as "expects", "anticipates", "intends", "plans", "believes", seeks", "estimates" or other similar phrases or variations of such words or similar expressions indicating, present or future anticipated or expected occurrences or outcomes are intended to identify such forward looking statements. Forward looking statements are not statements of historical fact and involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward-looking statements. Factors that may impact such forward looking statements include without limitation, the ability of Hackett to effectively market and continuing demand for Trintech software, its digital transformation and other consulting services, competition from other consulting and technology companies who may have or develop in the future, similar offerings, the commercial viability of Hackett and its services as well as other risk detailed in Hackett's reports filed with the United States Securities and Exchange Commission. Hackett does not undertake any duty to update this release or any forward looking statements contained herein.

About Trintech

Trintech Inc., a pioneer of Financial Corporate Performance Management (FCPM) software, combines unmatched technical and financial expertise to create innovative, cloud-based software solutions that deliver world-class financial operations and insights. From high volume transaction matching and streamlining daily operational reconciliations, to automating and managing balance sheet reconciliations, intercompany accounting, journal entries, disclosure reporting and bank fee analysis, to governance, risk and compliance – Trintech's portfolio of financial solutions, including Cadency(R) Platform, Adra(R) Suite, and targeted tools, ReconNET(TM), T-Recs(R), and UPCS(R), help manage all aspects of the financial close process. Over 3,500 clients worldwide – including the majority of the Fortune 100 – rely on the company's cloud-based software to continuously improve the efficiency, reliability, and strategic insights of their financial operations.

Headquartered in Dallas, Texas, Trintech has offices located across the United States, United Kingdom, Australia, Singapore, France, Germany, Ireland, the Netherlands and the Nordics, as well as strategic partners in South Africa, Latin America and the Asia Pacific. To learn more about Trintech, visit www.trintech.com or connect with us on LinkedIn, Facebook and Twitter.

Media Contacts:
Kelli Shoevlin, Trintech – +1-972-739-1680 or Kelli.Shoevlin@trintech.com
Gary Baker, The Hackett Group – +1-917-796-2391 or gbaker@thehackettgroup.com

SOURCE: Trintech, Inc.

Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Azabu Insights: Mask Usage in Tokyo Reaches Ninety-Seven Percent And Other Reasons Asian Countries Are Winning Against Coronavirus

TOKYO, Apr 23, 2020 – (ACN Newswire) – A group of consultants based in Azabu Juban have been following the coronavirus, spread, and response around the world. We have been tracking mask usage in Tokyo over the last months and readers had asked us to update these. In addition we wanted to take a look at global responses to the coronavirus pandemic to find keys for moving forwards.



[Image #1] European/Asian Countries by Cases and Deaths Per Population (April 21, 2020)


[Image #2] Percent of People Wearing Masks – Azabu Jyuban, Tokyo (Mar. 13, Apr. 2, Apr. 17)


[Image #3] Decrease in Ridership from April 2 to April 17, Azabu Jyuban



Even as cases have grown in Japan and Singapore, we find it remarkable how well Asia has fared and how effective their measures have been overall, taken in a global context. In this piece, we will therefore update mask usage numbers, compare global outbreak statistics, and look at some of the measures large and small that seem to have been effective in Asian countries so far.

As one reader commented, "we may need to start to think of dealing with the coronavirus not as a sprint, but as a marathon." In this light we find it instructive to look back at some of the successes Asia countries have had, so far.

Response from Asia

As people stay focused on their own country they often forget that in a wider perspective solutions have been very helpful. As shown in the table, countries like Taiwan, Korea and Japan have been able to keep death rates much lower than those of Italy, Spain, and the United States. Death rates in the Asian countries come in at less .5 per 100,000, whereas in many European countries they are more than one hundred times that amount.

[Image #1] European/Asian Countries by Cases and Deaths Per Population (April 21, 2020)

Masks in Tokyo Up Thirteen Percent

As the Japanese government and citizens get ever more vigilant about controlling the coronavirus, we have found that mask wearing has become ubiquitous in Japan. We updated our survey for a third time, on April 17th. This time we found ninety-seven percent of people wearing masks.

This is up from eighty-six percent on April 2nd (thirteen days ago), and sixty-four percent March 13 (thirty-five days ago), an increase of thirteen percent.

In this survey, again, women were more likely to wear masks, though only barely. Ninety-eight percent of women wore masks and ninety-seven percent of men wore them. See the charts below for the changes over time.

[Image #2] Percent of People Wearing Masks – Azabu Jyuban, Tokyo (Mar. 13, Apr. 2, Apr. 17)

In addition we found the more proactive approach towards beating the virus to have had a significant effect on ridership as well. Said a Sawayaka Shinyou Kinkou bank employee who commutes daily, "oh there are definitely less people; now people even open a seat next to each other on the train, rather than crowding in like they used to." Our data backed up her inference, with ridership down forty-nine percent on April 17th compared to April 2nd.

[Image #3] Decrease in Ridership from April 2 to April 17, Azabu Jyuban

NOTE: All data collected at identical times during a ninety minute period during rush hour. All days were clear, temperate days. Average temperatures on the three days were 14, 15 and 12 degrees celsius and 57, 59, and 54 degrees fahrenheit. The temperature came down slightly.

Getting Ready for the Long Haul – Asia Strategies Working

Following along with the goal of thinking of coronavirus as a marathon, we wanted to look for other examples of success in containing the virus that might be applicable to other countries in Asia or the West.

We find the successes in Taiwan, Japan, Singapore, China, South Korea, and Thailand to be frankly. All of these countries have kept death numbers very low compared to western countries. They have done this largely while still keeping at least a portion of the population at work and pushing the economies forwards.

We have identified important learnings from each country:

Lessons from China

China perhaps had the most significant early success. We noted three of the most significant measures.

1. It quarantined Wuhan from the rest of China on January 23rd, just before Chinese New Year, China's largest holiday period for both in-country and international travel. This allowed it to largely contain the spread and it allowed them to provide more healthcare workers and supplies to Wuhan.

2. As a part of this exercise, it also forced an internal quarantine in Hubei, shutting down non-essential businesses and locked down 11 million people in Wuhan and (the following day) more than 57 million people in other cities.

3. Third, it built two coronavirus hospitals (February 3rd). This led to a rapid drop off in deaths from the worst day of 150 deaths on February 23rd level down to less than 10 per day in only 19 days. We find these last hospitals to have been very important given the amount of in-hospital spread previously noted. In one study 42% of cases in Wuhan had previously been spread within the hospital.

We found that the coronavirus only hospitals that were built were truly amazing. However, subsequently in the UK a 4,000 bed hospital was built in the ExCeL Center in nine days and The United States's Corp of Army Engineers created seventeen hospitals with 15,500 beds in about a week. We believe that building these hospitals was so important because it has become clear that up to forty percent of spread has typically been inside hospitals and this is killing many at risk people.

Lessons from Taiwan

Taiwan has perhaps been the most successful, with only 422 cases and just 6 deaths. It was the most proactive, testing people for temperature on flights before it had even had a one case recorded.

It was also very proactive with other measures. For instance on January 29 the Taiwan Premier took steps to guarantee the supply of masks including releasing 23 million mask into the market and banning their export. By April 1st, Taiwan's successful measures led to them approaching their target of producing 15 million masks daily and announced it was donating 10 million masks to health workers outside of Taiwan.

The masks seem to have shown their efficacy again. We think it is a combination of catching some droplets, while also keeping people vigilant about isolating as much as possible even while in public. The relative success of Taiwan has been so high that they were able to open Taiwan baseball (albeit with no fans) a week ago.

Lesson from South Korea

South Korea, as most know, took to mass testing and a number high tech tracking measures so as to track the one major cluster that emanated out from an outbreak in a church in Daegu.

More than seven-thousand cases were confirmed in less than three weeks, but the death rate remained low.

Their attention to tracking and quarantining people affected by an outbreak was successful in controlling the spread with only .5 deaths per 100,000 population as of the writing of this article.

Hong Kong and Singapore

Despite its proximity to China and role as international transit hub, Hong Kong has successfully minimized its coronavirus impact with 1,026 confirmed cases and just 4 deaths. It acted quickly in late January to shut a number of border crossings, significantly reducing travel to and from China and implementing work from home orders. It has since tightened travel restrictions and shut schools.

Singapore immediately set up a multi-ministerial committee on January 24th, the day after the first confirmed case, to manage the pandemic.

Singapore has implemented strict cluster tracing, put in place airport temperature checks and set up holiday chalets to use as quarantine centres. Hong Kong has managed only .5 deaths per 100,000 population and Singapore has achieved only .2 deaths per 100,000 population.

Lessons from Japan

Japan has seen a spike in cases and deaths recently and has been criticized for low numbers of tests. However, like Singapore Japan has maintained death rates at .2 per 100,000 people. Again, this is compared to European countries such as Spain with 45 per 100,000 people (225 times the number on a per person basis). Many of its measures have proven effective so far, including:
1. Publicizing the most dangerous outbreak areas
2. Carefully tracking early clusters
3. Keeping coronavirus patients largely out of hospitals and nursing homes
4. Setting targets for reduction interactions (now set at eighty percent).

From the get go Japanese media daily reported the exact places where outbreaks were occurring: first taxi cabs, then karaoke bars, then live music events. These gave the populous clues of where to avoid and eventually a focus for what activities to shut down first. The Japanese citizens were largely attuned to understanding these dangerous activites and taking responsibility to avoid them as much as possible. Later the government was able to successfully "request" that many of these venues temporarily shut down. Again, with no law enforcement capability they achieved the limitations with the cooperation of business owners.

Secondly, Japan effectively kept coronavirus cases away from hospitals. As Azabu Insights has noted before, this is very important because seventy-three percent of people in hospitals are over age sixty-five and very vulnerable.

Lastly, their targeting of a specific target for reduction of interactions has significantly slowed the spread. Japan showed, as had Taiwan and Korea that a semblance of work can continue while still drastically slowing the spread of the disease.

The Effect of BCG Vaccination

Beyond the proactive nature of the Asian communities with masks, hand washing, polite social distancing, school closure and the like, we think that many parts of Asia have likely benefited from the protection of the BCG Vaccines. The BCG Vaccine, which was intended to protect from Tuberculosis seems to have some protectiveness against coronavirus.

The BCG vaccine has been used extensively in Japan, South Korea, Thailand, Taiwan, Singapore, and Hong Kong. It is not used in countries such as Italy, Spain, and the United States, which have had some of the worst outbreaks.

Hopes and Recommendations for the Future

For round one of the coronavirus outbreak, many of the Asian countries have fared very well compared to other parts of the world. But coronavirus may well be a marathon and not a sprint.

We hope and recommend that they will adopt the following policies going forwards:

1. Continue to keep testing in locations separate from hospitals to keep the virus from spreading in hospitals.
2. Build multiple 2-4,000 bed "coronavirus only" hospitals, staffed by young, low-risk doctors and nurses. This will allow the healthcare system to continue to treat the rest of society well.
3. Increase testing at targeted areas, including all people that enter an aged care facility (some twenty percent of deaths in USA are at aged care facilities)
4. Involve the military/self defense forces in helping to create hospital capacity and to safely transport coronavirus patients
5. Adopt the new secure outbreak tracking technologies offered by some of the tech companies that can allow us to track clusters even as populations grow. This will allow us to track clusters effectively.
6. Continue to be strategic in keeping the right things closed and targeting a reduced number of interactions. This necessarily requires finding funding to support small businesses.
7. Move to vaccinate more populations with BCG, including non-Japanese who request them.
8. We hope that individuals will remain vigilant as we wait for more good news about treatments and a potential vaccination. Wearing masks has some effect, making the move to more indoor home activities helps even more.

As Europe and America take baby steps towards loosening stay at home orders, we hope they will also learn from some of the relative successes of the Asian countries mentioned above. Of course as we continue on this journey, Asia probably has lessons to learn from the USA and Europe as well.

We would like to hear your opinions at info@azabuinsights.com

About Azabu Insights

Azabu Insights is a boutique strategic consulting company based in Azabu Juban, Tokyo, Japan. Our teams work collaboratively with clients to build strategies that lead to positive change. Our multilingual team members have top tier academic backgrounds and deep industry experience that we leverage to provide first class, fully engaged, strategic consulting. Core specializations include life sciences, finance, electronics, automotive, aerospace and other industries. For more information contact: info@azabuinsights.com.

Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Moody’s reaffirms B1 credit rating for HDBank despite pandemic challenge

HO CHI MINH CITY, VIETNAM, Apr 22, 2020 – (ACN Newswire) – Moody's Investors Service has reaffirmed the B1 credit rating for the Ho Chi Minh City Development JSC Bank (HDBank) amid a challenging market situation due to the impact of the Covid-19 pandemic and social distancing orders from the Government.

In its press release, Moody's said the bank has good profitability, improving capitalisation and good portfolio of liquid assets and is making solid progress in risk management.

In its 2019 financial report released recently, HDBank had total consolidated assets of nearly VND229.48 trillion (US$9.78 billion), equity of VND20.38 trillion (US$867.8 million) and profit before tax of nearly VND5.02 trillion (US$213.8 million), its highest ever.

Return on average assets (ROAA) and return on average equity (ROAE) were 1.8 per cent and 21.6 per cent, respectively.

HDBank's non-performing loan ratio continued to be strictly controlled, at less than 0.98 per cent, placing it among the banks with the lowest NPL ratios in the banking industry, a status it has enjoyed for many years.

Last year the bank received approval from the State Bank of Vietnam to adopt Basel II standards ahead of schedule, and its capital adequacy ratio (CAR) reached 11.2 per cent, much higher than the minimum of 8 per cent prescribed.

In the first three months of this year, despite the Covid-19 pandemic and the big changes it wrought in the domestic and global markets, HDBank achieved very positive business results.

In joining hands to fight the Covid-19 pandemic, HDBank is offering many preferential programmes for its customers. It has set aside VND10 trillion (US$426 million) to lend to producers and corporates who supply goods and services to supermarkets at interest rates starting at 6.5 per cent to stabilise consumer markets, VND5 trillion (US$213 million) for small and medium-sized enterprises and set aside VND3 trillion (US$127.6 million) for cutting fees and interest rates to support enterprises that supply drugs and medical equipment for use during the pandemic.

It is also enhancing technology application and promoting cashless payment solutions.

About HDBank

Ho Chi Minh City Development JSC Bank (HDBank, HOSE:HDB) was established in 1990, making it among the first commercial banks in Vietnam. After 30 years of operations, HDBank is now one of the leading banks in Vietnam. It has strong finances and modern technology, and provides a wide range of financial services to individuals, corporates and investors.

Media Contact:
HDBank
trangntt18@hdbank.com.vn

Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com