STOCKS TELEGRAPH

Tag: FinTech

  • Cuentas, Inc. (CUEN) Stock Soars Following Definite Agreement Between Cuentas and WaveMax

    Cuentas, Inc. (CUEN) stock prices were up 18.82% as of the market opening on July 22nd, 2021, bringing the price per share up to USD$4.23 early on in the trading day.

    Agreement with Wavemax

    July 22nd, 2021 saw the company announce having signed an exclusive, definitive JV agreement to rollout WaveMax’s SharedWiFi6 patented technology in 1000 locations. The rollout will commence from the New York City Metropolitan Area, with 500 locations in NYC, 330 in New Jersey, and 170 in Connecticut, with additional rollouts planned throughout the rest of the United States. The collaborative partners will execute a 50/50 joint venture to install advanced WiFi6 Access Points and Small Cells across the 1000 Bodega Stores.

    Implementing WaveMax Tech

    The stores will become CUEN’s premium locations that will be situated near public train stations and mass transit hubs, with the company’s products and services being offered on secure networks. The WiFi6 service is designed to enhance customer experiences with the Bodega stores with the automatic connecting of users with SharedWiFi high-speed internet, extending the reach of special in-store offers. Consumers at CUEN Points of Sale locations will also have access to promotions for the Cuentas GPR card and discounted products offered for sale through the company’s mobile app.

    CUEN’s Foray into Advertising

    The unique agreement will facilitate CUEN’s entry into the advertising ecosystem with its use of major brands to advertise the company’s offerings through mobile handsets. Furthermore, the company’s products and services will be available at a 50% discount for most favored nation pricing on their digital advertising platform.

    Advertising Ecosystem

    The company’s proprietary WaveMax’s SharedFi patented technology ensures the provision of a shared network of WiFi access points and small cells. Users will have access to the shared network and will have the option of being targeted by location-based advertising. The ads are configured by advertisers making use of WaveMax’s dashboards, which can manually or automatically target suitable demographics in an efficient manner.

    Future Outlook for CUEN

    Armed with the proliferation of its WaveMax technology and its rollout agreement, CUEN is poised to massively expand the scope of its market footprint. Keen to increase accessibility and market penetration, CUEN is confident in its ability to continue its trajectory of success. Investors are hopeful that management will persist in the effective management of company resources to usher in organic growth over the long term.

  • Triterras, Inc. (TRIT) Stock on the Rise as it Continues Expansion of Network of Strategic Partners

    Triterras, Inc. (TRIT) stock prices were up 6.32% as of the market close on July 21st, 2021, bringing the price per share up to USD$5.55 at the end of the trading day. Subsequent premarket fluctuations have seen the stock rise by 7.57%, bringing it up to USD$5.97.

    Collaboration with essDOCS

    July 22nd, 2021 saw the leading fintech company for trade and trade finance company announce its collaboration with essDOCS, a global trade management company that prides itself on its paperless operation. The agreement will facilitate the acceleration of the use of digital trade documents for the company’s global community of commodity traders. Aiming to make bulk cargo trading paperless and more efficient, essDOCS allows traders to digitize trade operations and finance processes regardless of cargo type.

    Details of the Agreement

    This is the latest in a string of moves by TRIT to foster growth as it builds out end-to-end services for its online marketplace, which is designed to connect and enable SME businesses, corporates, multinationals, and their lenders to trade online and digitally finance their commodity trading, logistics operations, and supply chains. As per the arrangement, the company will immediately integrate essDOCS’ Cargodocs electronic document capabilities onto Kratos. This will allow the company’s customers to create, review, and approve a paper or electronic bills of lading (eB/L) with their supply chain.

    Increased Visibility

    With the onset of the global coronavirus pandemic having exacerbated shipping costs and delays, there has been increasing awareness on the advantages of fully digitized trading operations. Trade stockholders using essDOCS’ CargoDocs solution, the world’s largest electronic Bill of Lading network, will be able to transfer the eB/L through the trade chain. Transfers can be made between carriers, exporters, financing parties, and importers in as little as three minutes.

    Recent Partnerships

    May 2021 saw the company announce its strategic investment and partnership with Electronic Cash and Payment Solutions, an open banking platform catering to India’s burgeoning Micro and SME marketplace. The series of partnerships have significantly expanded the company’s global footprint with its penetration of the Indian MSME marketplace. The company also recently announced its acquisition of Invoice Bazaar and its partnership with Western Union Business Solutions.

    Future Outlook for TRIT

    Armed with the latest in a growing network of strategic collaborations, TRIT is poised to capitalize on the expanded scope of opportunities made available to it. The company is keen to continue its trajectory of success by further facilitating expansion in its network of partners. Investors are hopeful that management will be able to facilitate significant and sustained increases in shareholder value.

  • Cuentas, Inc. (CUEN) Stock Dips After Exercising of Warrants from February 2021 Public Offering

    Cuentas, Inc. (CUEN) Stock Dips After Exercising of Warrants from February 2021 Public Offering

    Cuentas, Inc. (CUEN) stock prices were down 14.40% shortly after market trading commenced on July 12th, 2021, bringing the price per share down to USD$4.16 early on in the trading day.

    Public Offering

    July 12th, 2021 saw the company announce the generation of USD$6.2 million from the exercising of warrants issues earlier in February of 2021. The warrants were issued in relation to the company’s underwritten public offering of 2,790,697 units, with each unit priced at USD$4.30 per unit. The offering raised roughly USD$12 million, before the deduction of expenses related to the offering. The warrants started trading on the Nasdaq Capital Market under the ticker CUENW since February 2nd, 2021.

    Inclusion in WaveMax Network

    WaveMaxannounced having been selected by TelcoDR as a part of its showcase of the most innovative mobile technologies at the Mobile World Congress in Barcelona. Cuentas has signed a contract to rollout SharedFi across 170 test locations in the New York City-Tristate area. The testing period will last 6 months, the success of which will result in the collaborative installation of 1,000 additional Bodega Stores in a 50/50 joint venture.

    Synchronicity with Execon

    The WiFi managed services company, Execon, will facilitate the implementation of WiFi6 infrastructure and manage and monitor the broadband internet at various Bodega stores. Execon will connect participating stores, while Cuentas will connect customers via the WaveMax platform, driving customer savings and greater value. The WaveMax mobile ecosystem will encourage an enhanced user and shopping experience, with Cuentas customers having access to discounts for purchases and rewards, this driving in greater net revenues.

    Healthy Financials

    The company’s balance sheet for the first quarter of 2021 improved drastically, largely as a result of a successful USD$12 million capital raising venture, The underwritten public offering saw the generation of USD$10.6 million in net proceeds. The capital raised was allocated towards the repayment of all of its financial debt, including USD635,000 to Labrys, USD$378,000 to Dinar Zuz, and a USD$260k convertible loan with interest to A.Ghershony.

    Future Outlook for CUEN

    Armed with a solid liquidity position, the company is poised to capitalize on the opportunities afforded to it by the expansive scope of its collaborative ventures. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • OCC Fintech Charter Under Fire From House’s Democrats

    OCC Fintech Charter Under Fire From House’s Democrats

    Brian Brooks, the Acting Comptroller for the Currency from May 2020 to January 2021, had to defend the fintech banking charter in front of the House Financial Services Committee’s Subcommittee on Consumer Protection and Financial Institutions.

    The fintech charter was introduced by the Office of the Comptroller of Currency (OCC) which enabled fintech firms – including cryptocurrency firms – to provide lending and payment products without the scrutiny faced by other firms. The charter placed fintech firms out of the inspecting lens of the banking regulators – allowing crypto firms greater freedom.

    Brooks faced lash back from the Democrats as they argued the viability of the charter given the already largely unregulated status of the cryptocurrency industry. Chairwoman of House Financial Services Committee, Maxine Waters, talked about the complaints registered from banks about the greater freedom that firms under the charter have. Waters furthered bashed the OCC stating the office has stepped outside its authority.

    Brooks was quick to defend the charter stating that the charter bought fintech companies under regulation. Moreover, Brooks also described how the charter is aimed at empowering the financial technology sphere in order to provide greater value to consumers. According to Brooks, the charter enables a greater choice to consumers of lending and payment options; hence empowering consumers. Brooks further stated the charter is designed to help propel the country’s technological dynamism.