Taulia Adds Bank of China and BNP Paribas to Its Funder Network

 SAN FRANCISCO - Tuesday, 05. December 2023

(BUSINESS WIRE)--Taulia, a leading provider of working capital management solutions, today announced it has added the Bank of China London Branch, and BNP Paribas to its global multi-funder network.

The addition of the two major global banks is the most recent in an already large and growing network of funders available to Taulia’s global customers, enabling businesses to access an increasingly broad and diverse funding pool, with greater choice, liquidity, and availability of capital.

Multifunder models within supply chain finance programs are designed to provide resilience through diversification and a wider pool of funding for different currencies, geographies, client sizes, and credit profiles. Combined with the right technology, it also enables businesses to hedge against liquidity risk, particularly during periods of economic uncertainty.

Cedric Bru, CEO, Taulia, comments: “Adding Bank of China and BNP Paribas to the Taulia multi-funder network is an enormous achievement, and we are delighted to work with them. These agreements mark a significant step in fulfilling Taulia’s mission to enable businesses to unlock the liquidity trapped in supply chains, help them grow and navigate ever-changing market conditions.”

Xun Liu, Head of Transaction Banking Department, Bank of China Limited, London Branch comments: “This partnership is an important and forward-moving step to enhance Supply Chain Finance solutions in Bank of China London Branch. By teaming up with Taulia, we are positioning ourselves as leaders in offering modern and efficient solutions that will facilitate corporates and growth in trade. Taulia's expertise in technology and supply chain financing arrangements combined with the bank's extensive resources and practices will undoubtedly help companies manage their cash flow more effectively.”

Bruno Lechevalier, Head of EMEA Working Capital, BNP Paribas, comments: “Through its fully integrated solution with SAP, Taulia brings a strong added value to corporates supporting them to optimize their working capital and securitizing their supply chain network. In the frame of serving our common clients in the best way, we are delighted to announce that we are now part of Taulia’s Funder network offering various working capital solutions.”

About Taulia

Taulia is a fintech provider of working capital management solutions headquartered in San Francisco, California. Taulia helps companies access value tied up in their payables, receivables, and inventory. Taulia's platform and network of more than 3 million businesses enables customers to execute their working capital strategies, support their suppliers with early payment, and contribute to building sustainable supply chains. Taulia processes more than $500 billion each year and is trusted by the world’s largest companies, including Airbus, AstraZeneca, and Nissan. In March 2022, Taulia became part of SAP. For more information, please visit www.taulia.com.

About Bank of China Limited London Branch

Established in 1929, Bank of China Limited London Branch is the first ever overseas Chinese financial institution in global financial centers. Its history in the UK perfectly illustrates the international journey of China’s modern financial services industry.

Over the past 94 years, Bank of China London Branch has expanded steadily in the UK and has become the first choice for both Chinese ‘going-out’ customers and local UK customers seeking to establish relationships with China, with branches in the City of London, London Chinatown, Manchester, Birmingham, and Glasgow across the UK. It is taking a leading role amongst UK based Chinese financial institutions and is developing itself into one of the mainstream foreign banks in the European market. Bank of China London Branch will continue to act as an active and influential member in the local community, as well as a golden bridge of the China-UK relations.

Bank of China is a leader in trade finance business globally. Our capability is due to the bank’s large asset size, wide global network, very strong Asia coverage, decent risk appetite, very strong balance sheet, product expert capabilities, wide range of customer base, very competitive pricing, fast processing turn-around time and a diverse trade product offering.

As China’s most globalized bank, Bank of China has a well-established global service network with institutions set up across 62 countries and regions. It has established an integrated service-platform with a comprehensive range of financial services. It provides financial support for approximately a quarter of international trade enterprises in China.

About BNP Paribas

BNP Paribas is the European Union’s leading bank and key player in international banking. It operates in 65 countries and has nearly 185,000 employees, including more than 145,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Turkey, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group's performance and stability.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20231205451172/en/

Permalink

https://www.aetoswire.com/en/news/5122023362955

Contacts

Vested

Taulia@fullyvested.com

 

PUMA Scale-up Their Textile-to-textile Recycling Technology, Creating All Future Replica Football Kit Using RE:FIBRE Technology

 HERZOGENAURACH, Germany - Tuesday, 05. December 2023

(BUSINESS WIRE)--Global sports company PUMA has today announced that it has scaled up its textile recycling innovation, RE:FIBRE, replacing recycled polyester with RE:FIBRE technology in all PUMA football Club and Federation replica jerseys from 2024 onwards.

Since the launch of the pilot in 2022, which saw PUMA produce recycled training jerseys for their sponsored football clubs, RE:FIBRE technology has been used to create Switzerland and Morocco replica kits for the Women’s World Cup as well as Girona’s 2023/24 season Third kit. In 2024, official PUMA football replica jerseys* including those for the Euro and Copa América tournaments will be manufactured using RE:FIBRE recycled materials that were made of old garments and factory waste rather than only recycled plastic bottles.

Through the RE:FIBRE program, PUMA is keen to address the challenge of textile waste via a long-term solution for recycling. The technology also looks to diversify the fashion industry’s main source of recycled polyester in garments from being less reliant on clear plastic bottles.

The RE:FIBRE process uses any polyester material – from factory offcuts, faulty goods to pre-loved clothes which allows new garments to be recycled from any colour textile to any colour desired.

The four-step process of RE:FIBRE sees:

Collect and Sort: Collecting and sorting textile waste and other previously wasteful materials.

Shred and Mix: Shredding and mixing the collected materials down to the minimum.

Dissolve, Filter and Polymerize: Melting down the shredded polyester and ridding them of previous dyes through a chemical recycling process.

Melt, Spin, Knit and Sew: The melting allows the newly produced polymers to become ready to be spun and sewn into shape to create good as new RE:FIBRE fabric which can be recycled again and again.

Managing waste has today become a necessity, which is why PUMA is ramping up its investment into resource-efficient manufacturing processes in a move to reduce textile waste.

“Our wish is to have 100% of product polyester coming from textile waste,” said Anne-Laure Descours, Chief Sourcing Officer at PUMA. “Textile waste build-up in landfills is an environmental risk. Rethinking the way we produce and moving towards a more circular business model is one of the main priorities of our sustainability strategy.”

To help make the technical process of RE:FIBRE more digestible for the everyday consumer who wants to know more, PUMA has harnessed the storytelling power of Computer Generated Imagery to take viewers through the RE:FIBRE process, right down to the molecular chemistry at work. View the video here.

The video builds on the brand’s ongoing commitment to ensure PUMA’s sustainability initiatives are simplified for everyone to engage with. This comes after research conducted by PUMA found that 71% of young people felt their voices were not being heard when it comes to the environment and would like to see brands making more commitments (49%), communicating their goals better (40%) and being more transparent (34%).

As part of this commitment to communicate better, PUMA released The RE:GEN REPORTS podcast in June 2023. Making dense information in their Sustainability Report more accessible and tailored to a Gen Z audience.

PUMA’s ongoing efforts in sustainability has shown the brand improving its rankings on Corporate Knight’s Global 100 Sustainability Index from 77th to 47th, and the journey is not over. You can read further on PUMA’s sustainability targets and RE:FIBRE on foreverbetter.com.

*excluding locally replicas for Fenerbahçe SK, Shakhtar Donetsk and locally sourced kits.

Notes to editor:

Damages of textile waste:

Approx. 15m items of secondhand garments make their way to Ghana, each week

40% of the garments arriving to Ghana are classified as waste and end up dumped into landfill. Approx.100 tons per day

The landfills in Ghana cause sever environmental damage and to agricultural industries. (Link)

PUMA ambitions:

100% of recycled polyester coming from textile waste

Read more on PUMA’s 10For25 targets here (Link)

PUMA

PUMA is one of the world’s leading sports brands, designing, developing, selling and marketing footwear, apparel and accessories. For 75 years, PUMA has relentlessly pushed sport and culture forward by creating fast products for the world’s fastest athletes. PUMA offers performance and sport-inspired lifestyle products in categories such as Football, Running and Training, Basketball, Golf, and Motorsports. It collaborates with renowned designers and brands to bring sport influences into street culture and fashion. The PUMA Group owns the brands PUMA, Cobra Golf and stichd. The company distributes its products in more than 120 countries, employs about 20,000 people worldwide, and is headquartered in Herzogenaurach/Germany.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20231205250478/en/

Permalink

https://www.aetoswire.com/en/news/5122023362999

Contacts

Media Contacts:

Samantha Du Plessis

Corporate Communications - PUMA SE

+49 9132 81 2984

samantha.duplessis@puma.com

MSL Communications Agency

pumaglobalteam@mslgroup.com

Visa and Oxfam America to Explore Expanding Anticipatory Action Program to Bring Pre-Disaster Financial Support to the Philippines, Kenya, Colombia, and Puerto Rico

 

 At COP28, the organizations announced intent to scale the B-READY Project to provide preventative humanitarian assistance in four high-risk locations

(BUSINESS WIRE) -- During the 28th United Nations Climate Change Conference (COP28), Visa (NYSE: V), a global leader in digital payments, and Oxfam America, a part of the global Oxfam organization fighting inequality to end poverty and injustice, announced intent to collaborate to scale Oxfam’s Building Resilient, Adaptive and Disaster-Ready Communities (B-READY) project to deliver real-time streamlined money movement and relief payments to individuals and businesses in the Philippines, Kenya, Colombia, and Puerto Rico.

B-READY unites parametric forecasting with community inputs to provide humanitarian assistance to individuals, communities, and businesses before a disaster strikes. Visa and Oxfam America intend to scale B-READY to create a mobile-based payment solution infrastructure to digitize humanitarian payments to help families, individuals, and small businesses protect themselves and their assets before a disaster. Combining data-driven insights from Visa with Oxfam’s record of disaster relief and predictive modeling can help provide advance warning of major disasters to trigger fast and secure pre-disaster payments to families, individuals, and small businesses in affected communities.

From 1970 to 2019, 50% of all disasters and 74% of all reported economic loss globally resulted from weather, climate, and water hazards1. Without action, it is estimated that the impacts of climate change will push an additional 100.7 million people into poverty by 2030 globally compared to 20202. By integrating Visa Direct, which provides a single point of access to billions of endpoints helping to transform global money movement, and Visa Government Prepaid, B-READY will be able to help build resiliency and decrease the impact of emergencies on people, homes, businesses, livelihoods, and governments.

“At Oxfam, we know that climate change, poverty, and inequality are linked,” said Abby Maxman, President and CEO of Oxfam America. “Disasters disproportionately impact the most marginalized people, worsening inequality and heightening the need to provide financial assistance to those who need it the most. We look forward to scaling B-READY with Visa to improve disaster preparedness and recovery for at-risk communities worldwide.”

“We are thrilled to join forces with Oxfam once again to extend anticipatory relief efforts that increase resiliency and financial inclusion for individuals and businesses,” said Rajiv Garodia, SVP and global head of Visa Government Solutions at Visa. “Visa is poised to facilitate real-time, streamlined, and efficient money movement for pre-disaster payments, bringing tangible benefits to people and businesses. Our vision includes enabling financial inclusion, and this collaboration marks a significant stride towards empowering underbanked communities.”

Anticipatory action and digital cash transfers are a significant part of the future of humanitarian finance, however, the lack of early warning systems linked to digital cash transfers limits the advance of anticipatory action. Reducing vulnerability to disasters requires innovation, and the collaboration aims to integrate three innovations for global impact:

• Anticipatory action is advanced humanitarian response: Anticipatory action can help reduce the need for humanitarian response post-disaster, and timely pre-emptive cash delivery can be effective for driving impact.

• Money in the hands of those who need it most: Direct disbursement of funds to people in a crisis can help strengthen communities and systems and provide recipients with decision-making power and agency at a difficult time.

• Digital solutions are a key into the future: Humanitarian digital cash transfers can also help drive broader digital financial inclusion for previously unbanked people.

Oxfam America and Visa have a track record of collaborating to innovate in humanitarian response and digital financial inclusion. They worked together to efficiently, safely, and transparently disburse funds to disaster affected populations, starting with Visa’s support to digitize humanitarian payments during Oxfam's response to super typhoon Haiyan in the Philippines in 2013, improving disaster preparedness and recovery of at-risk communities by addressing multiple barriers to financial inclusion. B-READY was founded in the Philippines in 2019, providing cash grants to families and individuals three days after the landfall of Typhoon Ursula. It has since expanded to reach North Darfur, Sudan, and Indonesia. To learn more about B-READY, please visit: https://b-ready.org/.

About Visa Inc.

Visa (NYSE: V) is a world leader in digital payments, facilitating payments transactions between consumers, merchants, financial institutions, and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable, and secure payments network, enabling individuals, businesses, and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.

About Oxfam America

Oxfam is a global organization that fights inequality to end poverty and injustice. We offer lifesaving support in times of crisis and advocate for economic justice, gender equality, and climate action. We demand equal rights and equal treatment so that everyone can thrive, not just survive. The future is equal. Join us at oxfamamerica.org.

1 World Meteorological Organization (2021). WMO Atlas of Mortality and Economic Losses from Weather, Climate and Water Extremes (1970–2019).
2 United Nations Office for Disaster Risk Reduction (2022). Global Assessment Report on Disaster Risk Reduction 2022: Our World at Risk: Transforming Governance for a Resilient Future. Geneva.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20231204088757/en/

Permalink
https://aetoswire.com/en/news/0512202336283

Contacts

Visa Inc.
Cheyenne Hopkins Beach
press@visa.com

Oxfam America
Elizabeth Bibi
Elizabeth.Bibi@oxfam.org

Limited Libations, Innovative Blending, Escapism Elixirs and More are Shaping the Way That Consumers Drink in 2024, Based on the Bacardi Cocktail Trends Report

 

 Annual Cocktail Trends Report Details Trends to Watch in Cocktail Culture in 2024

(BUSINESS WIRE) -- Bacardi Limited, the world’s largest privately held international spirits company, releases its fifth annual Bacardi Cocktail Trends Report, anticipating the key trends that will redefine cocktail culture and the spirits business in 2024. The report, created in collaboration with strategic foresight consultancy, The Future Laboratory (TFL), draws on insights from Bacardi-led and external research, interviews with bartenders and insights from The Future Laboratory to share the themes that are transforming flavor preferences, drink formats, and cocktail experiences in the coming year.

“As 2024 arrives, people are looking to settle into the unsettled – welcoming tastes of optimism into our reality. In this landscape, people are reshaping cocktail culture, infusing it with fresh perspectives and finding memorable experiences back at the bar with friends. From redefining moderate drinking to a surge in sustainable attitudes, Bacardi is at the forefront, championing a world where people-driven cocktail culture thrives through innovation, experimentation, and overall better moments,” says Brenda Fiala, Global Vice President of Strategy, Insights & Analytics at Bacardi.

Here are the macro-trends defining spirits sipping in 2024:

1. Limited Libations. Next-gen drinkers are embracing a ‘less but better’ approach, continuing to support the ongoing premiumization era for key spirits, liquors, and NoLo categories. With a conscious approach to the economic climate, consumers are seeking small luxuries – looking to elevated lifestyle products as must-have pieces. This quality-focused shift transforms spirits into coveted collector's items, with forward-thinking brands enhancing limited-edition bottles through crafted storytelling. Simultaneously, the NoLo category continues to evolve, embodying 'The Sipping Spectrum,' where moderation is synonymous with choice, quality, flavor, and social connections. IWSR research illustrates this flexible future in action, reporting that almost half of NoLo consumers choose NoLo options on certain occasions, and full strength on others.

2. Innovative Aging & Blending. 2024 will usher in an era of innovation for dark, aged spirits, with brands embracing unique aging methods and novel flavor combinations. Distillers are venturing into uncharted territory, discovering new sources of innovation in the expanding category. Bold and unexpected pairings continue to lead, whereas regional experimentation yields spicy, fruity, and zesty profiles in innovative formats. While enjoyers of dark, aged spirits are diversifying their palates, rum-based cocktails are continuing to grow in popularity. Tequila unanimously ranked as the number one premiumization category with Mezcal named as the next to premiumize, as indicated by the Bacardi Global Consumer Survey 2023.

3. Escapism Elixirs. Cocktail culture is transporting consumers across destinations, countries and even eras – as classic spritzes and ornate sips help to recreate nostalgic, convivial moments year-round. In 2024, the link between drinks and destinations will deepen, with classic cocktails and European flavors whisking drinkers from the beach to the bar. This evolution isn't just about where but also when consumers enjoy drinks. As for letting loose, non-traditional venues are on the rise, with Bacardi research indicating a shift away from nightclubs to festivals as the new hub for revelry. In South Africa and India, more than one-third of respondents are looking to enjoy more sundowner cocktails over the next year, and approximately a quarter in the U.S. and Mexico (27%) and Spain (26%).

4. Notes of Nature. In the coming year, consumers will reframe their relationship to the natural world, impacting where they spend their time, the brands they support, and what they consume. With a resurgence in next-gen outdoor activities and a growing emphasis on sustainability, drinks brands are redefining their connection to the environment through intentional ingredients and eco-friendly practices. In the drinks world, 2024 will see brands and bartenders take a holistic approach to nature and its flavors – harnessing sustainably sourced aromatics, florals, botanicals and oils to create cocktail experiences uniquely rooted in nature. According to the Bacardi Global Consumer Survey 2023, 44% of respondents in Canada and 43% of younger respondents in the U.S. intend to consume more cocktails made with natural ingredients in 2024. In emerging markets, the numbers are even higher with 51% in India, 47% South Africa and 44% in Mexico.

5. Tech-Enhanced Tastes. Digital advancements are inciting change in ‘what’, ‘where’ and ‘how’ drinks are enjoyed, providing all-new routes to personalization, brand experience and community. As consumers increasingly seek personalized brand interactions, AI is introducing exciting opportunities for tailored cocktail experiences, accessible anytime and anywhere. For the drinks industry, AI’s evolution will create all-new paths to experimentation and discovery, with brand innovators using the technology as a tool to bring consumers closer to branded cocktails and experiences, regardless of their location. While 8 in 10 younger consumers across select markets are looking to explore AI recommendations, they are adamant about maintaining the emotional connection and artistic finesse that only bartenders can provide.

Download the complete Bacardi Cocktail Trends Report 2024 and Infographic.

About Bacardi Limited

Bacardi Limited, the world’s largest privately held international spirits company, produces, markets, and distributes spirits and wines. The Bacardi Limited portfolio comprises more than 200 brands and labels, including BACARDÍ® rum, PATRÓN® tequila, GREY GOOSE® vodka, DEWAR’S® Blended Scotch whisky, BOMBAY SAPPHIRE® gin, MARTINI® vermouth and sparkling wines, CAZADORES® 100% blue agave tequila, and other leading and emerging brands including WILLIAM LAWSON’S® Scotch whisky, D’USSÉ® Cognac, ANGEL’S ENVY® American straight whiskey, and ST-GERMAIN® elderflower liqueur. Founded more than 161 years ago in Santiago de Cuba, family-owned Bacardi Limited currently employs approximately 9,000, operates production facilities in 11 countries and territories, and sells its brands in more than 160 markets. Bacardi Limited refers to the Bacardi group of companies, including Bacardi International Limited. Visit http://www.bacardilimited.com or follow us on LinkedIn and Instagram.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20231202332985/en/

Permalink
https://aetoswire.com/en/news/0512202336284

Contacts

Jessica Merz, Bacardi, jmerz@bacardi.com
Kelly Smith, Nike Communications, ksmith@nikecomm.com

CIOs and CTOs Across Australia and New Zealand Struggle Balancing IT Modernization Efforts with Business Growth and Profitability, According to New Survey

 

Majority of surveyed IT leaders running IT modernization programs are over budget and behind schedule, with results showing only “marginal improvements” for the business

(BUSINESS WIRE)--Rimini Street, Inc. (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, products and services, the leading third-party support provider for Oracle and SAP software, and a Salesforce and AWS partner, today announced findings of the Tech Research Asia Survey Report, “Operational Excellence is a Key Part of System Modernisation,” examining the challenges, opportunities, and priorities of CIOs and CTOs in their modernization journey. The Rimini Street-sponsored research was conducted among more than 300 CxOs across Australia and New Zealand from retail, manufacturing, construction, banking, travel and hospitality, telecommunications, and utilities industries.

The survey highlights the balance IT leaders must strike between modernization efforts and broader business objectives such as profitability, growth, cost control and employee management. With a majority of surveyed executives seeing only marginal improvements to the business post-transformation, many are finding themselves having to justify the purpose and ROI of modernization efforts.

“The research indicates that there is significant room for improvement when it comes to modernization programs, and many organizations believe they can – and should – extract greater ROI out of their existing core systems,” said David Rowe, EVP, Global Transformation and chief product officer at Rimini Street. “Enterprise software system roadmaps have been dictated by the vendors, leaving little to no control to the organization implementing them. This is increasingly changing, and we are seeing more leaders take their roadmap into their own hands to achieve better outcomes by optimizing existing systems tailored to their business goals, innovating around the edges, and outsourcing maintenance and support.”

Survey Results Show Organizations Challenged with Digital Transformation Vision, IT Modernization Timeline and Budget, and Seeing Greater ROI for the Investment

Key findings include:

• 98% of survey respondents are pursuing digital transformation (DX), but many organizations lack a comprehensive vision for their digital future and fall into “DX fatigue”
• 88% of survey respondents are running an IT modernization program; however, more than half say they are behind schedule (61%) and over budget (68%)
• Nearly 60% of respondents say that their modernization programs were not succeeding beyond marginal improvements for the business
• 81% of organizations believe that hybrid IT is a key approach to IT modernization

Embracing Innovation in IT Management and Modernization with Third-Party Support

While 66% of respondents are open to embracing innovative approaches to managing or modernizing their IT environments, the current focus on driving profit margin increases and operational excellence can lead organizations to deprioritize innovation efforts.

Over the next 12 months, the top three IT management priorities for CIOs and CTOs are:

1. Modernizing core systems to create better performance, efficiencies, and lower costs management
2. Keeping existing IT systems running
3. Managing IT budget constraints

To achieve these priorities, executives must take greater focus on areas of inefficiencies within the business. IT leaders surveyed believe they waste a mean of 144 hours per week on low-value management or maintenance tasks for core IT systems. This represents a critical area of the business where executives can work with key stakeholders and outsourced IT support vendors to eradicate waste by streamlining processes and freeing up resources.

The top two influences on business cited are “inflation/the cost of capital” and “finding/retaining the best talent.” With up to 60% of respondents experiencing some dissatisfaction with their primary operational/core IT system vendor, organizations should consider partnering with third-party service support experts who can help stabilize and optimize current systems, as well as provide strategies and roadmaps to well-planned modernization efforts. Doing so can provide enterprises with valuable guidance and support throughout the modernization journey, enabling them to foster innovation, allocate their talent resources toward strategic projects while pursuing both growth and profitability.

You can access the full, comprehensive survey report, “Operational Excellence is a Key Part of System Modernisation,” here.

About Rimini Street, Inc.

Rimini Street, Inc. (Nasdaq: RMNI), a Russell 2000® Company, is a global provider of end-to-end enterprise software support, products and services, the leading third-party support provider for Oracle and SAP software and a Salesforce and AWS partner. The Company has operations globally and offers a comprehensive family of unified solutions to run, manage, support, customize, configure, connect, protect, monitor, and optimize enterprise application, database, and technology software, and enables clients to achieve better business outcomes, significantly reduce costs and reallocate resources for innovation. To date, over 5,300 Fortune 500, Fortune Global 100, midmarket, public sector, and other organizations from a broad range of industries have relied on Rimini Street as their trusted enterprise software solutions provider. To learn more, please visit riministreet.com, and connect with Rimini Street on Twitter, Instagram, Facebook and LinkedIn. (IR-RMNI)

Forward-Looking Statements

Certain statements included in this communication are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “anticipate,” “believe,” “continue,” “could,” “currently,” “estimate,” “expect,” “future,” “intend,” “may,” “might,” “outlook,” “plan,” “possible,” “potential,” “predict,” “project,” “seem,” “seek,” “should,” “will,” “would” or other similar words, phrases or expressions. These forward-looking statements include, but are not limited to, statements regarding our expectations of future events, future opportunities, global expansion and other growth initiatives and our investments in such initiatives. These statements are based on various assumptions and on the current expectations of management and are not predictions of actual performance, nor are these statements of historical facts. These statements are subject to a number of risks and uncertainties regarding Rimini Street’s business, and actual results may differ materially. These risks and uncertainties include, but are not limited to, adverse developments in and costs associated with defending pending litigation or any new litigation, including the disposition of pending motions to appeal and any new claims; additional expenses to be incurred in order to comply with injunctions against certain of our business practices and the impact on future period revenue and costs; changes in the business environment in which Rimini Street operates, including the impact of any recessionary economic trends and changes in foreign exchange rates, as well as general financial, economic, regulatory and political conditions affecting the industry in which we operate and the industries in which our clients operate; the evolution of the enterprise software management and support landscape and our ability to attract and retain clients and further penetrate our client base; significant competition in the software support services industry; customer adoption of our expanded portfolio of products and services and products and services we expect to introduce; our ability to sustain or achieve revenue growth or profitability, manage our cost of revenue and accurately forecast revenue; estimates of our total addressable market and expectations of client savings relative to use of other providers; variability of timing in our sales cycle; risks relating to retention rates, including our ability to accurately predict retention rates; the loss of one or more members of our management team; our ability to attract and retain qualified employees and key personnel; challenges of managing growth profitably; our need and ability to raise additional equity or debt financing on favorable terms and our ability to generate cash flows from operations to help fund increased investment in our growth; the impact of environmental, social and governance (ESG) matters; risks associated with global operations; our ability to prevent unauthorized access to our information technology systems and other cybersecurity threats, protect the confidential information of our employees and clients and comply with privacy regulations; our ability to maintain an effective system of internal control over financial reporting; our ability to maintain, protect and enhance our brand and intellectual property; changes in laws and regulations, including changes in tax laws or unfavorable outcomes of tax positions we take, or a failure by us to establish adequate tax reserves; our credit facility’s ongoing debt service obligations and financial and operational covenants on our business and related interest rate risk, including uncertainty from the transition to SOFR or other interest rate benchmarks; the sufficiency of our cash and cash equivalents to meet our liquidity requirements; the amount and timing of repurchases, if any, under our stock repurchase program and our ability to enhance stockholder value through such program; uncertainty as to the long-term value of Rimini Street’s equity securities; catastrophic events that disrupt our business or that of our clients; and those discussed under the heading “Risk Factors” in Rimini Street’s Quarterly Report on Form 10-Q filed on November 1, 2023, and as updated from time to time by Rimini Street’s future Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings by Rimini Street with the Securities and Exchange Commission. In addition, forward-looking statements provide Rimini Street’s expectations, plans or forecasts of future events and views as of the date of this communication. Rimini Street anticipates that subsequent events and developments will cause Rimini Street’s assessments to change. However, while Rimini Street may elect to update these forward-looking statements at some point in the future, Rimini Street specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Rimini Street’s assessments as of any date subsequent to the date of this communication.

© 2023 Rimini Street, Inc. All rights reserved. “Rimini Street” is a registered trademark of Rimini Street, Inc. in the United States and other countries, and Rimini Street, the Rimini Street logo, and combinations thereof, and other marks marked by TM are trademarks of Rimini Street, Inc. All other trademarks remain the property of their respective owners, and unless otherwise specified, Rimini Street claims no affiliation, endorsement, or association with any such trademark holder or other companies referenced herein.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20231205618916/en/

Permalink

https://aetoswire.com/en/news/5122023363111

Contacts

Janet Ravin

VP, Global Communications

Rimini Street, Inc.

+1 702 285-3532

pr@riministreet.com

Higround and The Pokémon Company International Invite Fans to Explore Fan-Favorite Pokémon in New Collection

 LOS ANGELES - Tuesday, 05. December 2023 AETOSWire Print 

(BUSINESS WIRE) -- In a new and special collaboration, Higround, a powerhouse within the lifestyle and gaming spheres, is teaming up with The Pokémon Company International to create an exciting collection that seamlessly blends the worlds of competitive gaming, and the beloved Pokémon franchise. This unique partnership introduces a carefully curated collection of gaming peripherals inspired by fan-favorite Pokémon.

Higround introduces its line of Pokémon-themed keyboards and additional accoutrement, offering fans a tactile way to connect with their favorite franchise. In this unique collection, the Base 65 and Summit 65 Keyboards take center stage. The Base 65 models, for the everyday adventurer, feature designs like the iconic Poké Ball and fan-favorite Pokémon, including Venusaur, Charizard, Blastoise, and Mewtwo. The Summit 65 Keyboards represent the apex of luxury and performance, crafted with enthusiast-grade materials. Complementing these are the Performance Base 65 Keyboards, designed for competitive gamers with dynamic actuation technology, allowing for customized key sensitivity.

"This collaboration with Pokémon is a unique opportunity for us to celebrate a franchise that has been a significant part of our lives," says Rustin Sotoodeh, CEO and Creative Director of Higround. "We want to enable fans to express themselves and their love of Pokémon through our products, which offer a special collectible experience."

Mark your calendars for this one-of-a-kind release. The Higround and Pokémon collection will be available on December 8th at 12 p.m. PT on the Higround website.

ABOUT HIGROUND

Higround is a lifestyle and computer peripheral brand that seeks to embody elevated gaming culture. Founded by Rustin Sotoodeh and Kha Lu, Higround creates high-quality peripherals with unique designs that fuse fashion, gaming, and technology. Each capsule collection features a distinctive array of items known to sell out rapidly. In 2021, Higround was acquired by esports powerhouse 100 Thieves.

ABOUT POKÉMON

The Pokémon Company International, a subsidiary of The Pokémon Company in Japan, manages the property outside of Asia and is responsible for brand management, licensing, marketing, the Pokémon Trading Card Game, the animated TV series, home entertainment, and the official Pokémon website. Pokémon was launched in Japan in 1996 and today is one of the most popular children’s entertainment properties in the world. For more information, please visit www.pokemon.com.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20231204512387/en/

Permalink

https://www.aetoswire.com/en/news/0512202336289

Contacts

Kelly Kim: kkim@higround.co

Moody’s Launches Moody’s Research Assistant, a GenAI Tool to Power Analytic Insights

NEW YORK - Tuesday, 05. December 2023

(BUSINESS WIRE) -- Moody's Corporation (NYSE:MCO) today announced the launch of Moody’s Research Assistant, a first-of-its-kind search and analytical tool powered by generative artificial intelligence (GenAI). Leveraging Moody’s extensive proprietary content and the latest large language models (LLMs), the product helps customers generate new insights from the breadth and depth of Moody’s credit research, data, and analytics.

As the first GenAI-powered research tool commercially available for financial market participants, Moody’s Research Assistant synthesizes vast amounts of information so users can assess lending or investment opportunities, monitor developments, compare entities, and enhance analytical workflows rapidly and at scale. Grounded in Moody’s extensive proprietary content in combination with the latest GenAI technology, Moody’s Research Assistant allows users to generate more holistic risk insights faster.

“For financial market participants, successfully navigating today’s complex risk landscape requires resource-intensive analysis of a vast array of research and data across a number of risk domains,” said Cristina Pieretti, General Manager of Digital Insights for Moody’s Analytics. “With Moody’s Research Assistant, analysis that used to take hours can now be accomplished in minutes, freeing up more time for strategic decision-making.”

Users who participated in a pilot of Moody’s Research Assistant reported gains in productivity and effectiveness. Based on observed metrics during the pilot period, users could save up to 80% of the time they spend on data collection and up to 50% of the time they spend on analysis by adding Moody's Research Assistant. Overall, results suggest that Moody’s Research Assistant could save users up to 27% of their time spent performing the typical tasks and functions of a financial analyst.

Moody’s Research Assistant is available as an add-on to CreditView, Moody’s flagship ratings and research solution. Using Microsoft’s Azure OpenAI Service and powered by advanced language processing technology, Moody’s Research Assistant complements CreditView’s existing information retrieval system, effectively identifying relevant entities, industries, and geographical regions within textual content.

Moody’s Research Assistant covers the latest rating actions, credit opinions, and research reports from Moody’s Investors Service to provide real-time answers for users. Ultimately, Moody’s Research Assistant will expand to leverage more of Moody’s data and content across risk domains including credit, climate, cyber, compliance, supply chain, and more.

The launch of Moody’s Research Assistant is the latest chapter in Moody’s integration of AI into its products, solutions, and processes that help decision makers decode risk and unlock opportunities. Moody’s ongoing approach to innovation is grounded in three main principles – evolving with urgency, empowering employees, and prioritizing customer impact.

For more information on Moody’s Research Assistant, visit https://www.moodys.com/researchassistant

For more information on Moody’s approach to GenAI, visit https://www.moodys.com/innovation/ai-principles.html

ABOUT MOODY’S CORPORATION

Moody’s (NYSE: MCO) is a global integrated risk assessment firm that empowers organizations to make better decisions. Its data, analytical solutions and insights help decision-makers identify opportunities and manage the risks of doing business with others. We believe that greater transparency, more informed decisions, and fair access to information open the door to shared progress. With approximately 15,000 employees in more than 40 countries, Moody’s combines international presence with local expertise and over a century of experience in financial markets. Learn more at moodys.com/about.

"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

Certain statements contained in this release are forward-looking statements and are based on future expectations, plans and prospects for Moody's business and operations that involve a number of risks and uncertainties. Such statements involve estimates, projections, goals, forecasts, assumptions and uncertainties that could cause actual results or outcomes to differ materially from those contemplated, expressed, projected, anticipated or implied in the forward-looking statements. Stockholders and investors are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements and other information in this release are made as of the date hereof, and Moody's undertakes no obligation (nor does it intend) to publicly supplement, update or revise such statements on a going-forward basis, whether as a result of subsequent developments, changed expectations or otherwise, except as required by applicable law or regulation. In connection with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, Moody's is identifying certain factors that could cause actual results to differ, perhaps materially, from those indicated by these forward-looking statements. Those factors, risks and uncertainties include, but are not limited to: the impact of current economic conditions, including capital market disruptions, inflation and related monetary policy actions by governments in response to inflation, on worldwide credit markets and on economic activity, including on the volume of mergers and acquisitions, and their effects on the volume of debt and other securities issued in domestic and/or global capital markets; the uncertain effectiveness and possible collateral consequences of U.S. and foreign government initiatives and monetary policy to respond to the current economic climate, including instability of financial institutions, credit quality concerns, and other potential impacts of volatility in financial and credit markets; the global impacts of the Russia - Ukraine military conflict and more recently the military conflict in Israel and surrounding areas, on volatility in world financial markets, on general economic conditions and GDP in the U.S. and worldwide, on global relations and on the Company's own operations and personnel; other matters that could affect the volume of debt and other securities issued in domestic and/or global capital markets, including regulation, increased utilization of technologies that have the potential to intensify competition and accelerate disruption and disintermediation in the financial services industry, as well as the number of issuances of securities without ratings or securities which are rated or evaluated by non-traditional parties; the level of merger and acquisition activity in the U.S. and abroad; the uncertain effectiveness and possible collateral consequences of U.S. and foreign government actions affecting credit markets, international trade and economic policy, including those related to tariffs, tax agreements and trade barriers; the impact of MIS’s withdrawal of its credit ratings on countries or entities within countries and of Moody’s no longer conducting commercial operations in countries where political instability warrants such actions; concerns in the marketplace affecting our credibility or otherwise affecting market perceptions of the integrity or utility of independent credit agency ratings; the introduction or development of competing and/or emerging technologies and products; pricing pressure from competitors and/or customers; the level of success of new product development and global expansion; the impact of regulation as an NRSRO, the potential for new U.S., state and local legislation and regulations; the potential for increased competition and regulation in the EU and other foreign jurisdictions; exposure to litigation related to our rating opinions, as well as any other litigation, government and regulatory proceedings, investigations and inquiries to which Moody’s may be subject from time to time; provisions in U.S. legislation modifying the pleading standards and EU regulations modifying the liability standards applicable to credit rating agencies in a manner adverse to credit rating agencies; provisions of EU regulations imposing additional procedural and substantive requirements on the pricing of services and the expansion of supervisory remit to include non-EU ratings used for regulatory purposes; uncertainty regarding the future relationship between the U.S. and China; the possible loss of key employees and the impact of the global labor environment; failures or malfunctions of our operations and infrastructure; any vulnerabilities to cyber threats or other cybersecurity concerns; the timing and effectiveness of our restructuring programs, such as the 2022 - 2023 Geolocation Restructuring Program; currency and foreign exchange volatility; the outcome of any review by controlling tax authorities of Moody’s global tax planning initiatives; exposure to potential criminal sanctions or civil remedies if Moody’s fails to comply with foreign and U.S. laws and regulations that are applicable in the jurisdictions in which Moody’s operates, including data protection and privacy laws, sanctions laws, anti-corruption laws, and local laws prohibiting corrupt payments to government officials; the impact of mergers, acquisitions, such as our acquisition of RMS, or other business combinations and the ability of Moody’s to successfully integrate acquired businesses; the level of future cash flows; the levels of capital investments; and a decline in the demand for risk management tools by financial institutions. These factors, risks and uncertainties as well as other risks and uncertainties that could cause Moody’s actual results to differ materially from those contemplated, expressed, projected, anticipated or implied in the forward-looking statements are described in greater detail under “Risk Factors” in Part I, Item 1A of Moody’s annual report on Form 10-K for the year ended December 31, 2022, and in other filings made by the Company from time to time with the SEC or in materials incorporated herein or therein. Stockholders and investors are cautioned that the occurrence of any of these factors, risks and uncertainties may cause the Company’s actual results to differ materially from those contemplated, expressed, projected, anticipated or implied in the forward-looking statements, which could have a material and adverse effect on the Company’s business, results of operations and financial condition. New factors may emerge from time to time, and it is not possible for the Company to predict new factors, nor can the Company assess the potential effect of any new factors on it. Forward-looking and other statements in this document may also address our corporate responsibility progress, plans, and goals (including sustainability and environmental matters), and the inclusion of such statements is not an indication that these contents are necessarily material to investors or required to be disclosed in the Company’s filings with the Securities and Exchange Commission. In addition, historical, current, and forward-looking sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20231205410924/en/

Permalink

https://www.aetoswire.com/en/news/0512202336306

Contacts

SHIVANI KAK

Investor Relations

212.553.0298

Shivani.Kak@moodys.com

JOE MIELENHAUSEN

Corporate Communications

212.553.1461

Joe.Mielenhausen@moodys.com