united states – Sarah Long http://sarahlong.org/ Tue, 19 Apr 2022 14:01:18 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://sarahlong.org/wp-content/uploads/2021/10/icon-44-120x120.png united states – Sarah Long http://sarahlong.org/ 32 32 Nium offers fast settlement of international transactions on brokerage accounts https://sarahlong.org/nium-offers-fast-settlement-of-international-transactions-on-brokerage-accounts/ Wed, 16 Mar 2022 15:30:12 +0000 https://sarahlong.org/nium-offers-fast-settlement-of-international-transactions-on-brokerage-accounts/ Nium, a global leader in modern money movement, today introduced a new brokerage payments solution that provides international financial institutions (FIs) with a faster, more cost-effective method of settling transactions to select U.S. brokers enabling clients to easily invest in US stocks. Compared to transactions settled through the SWIFT international payments network, Nium reduces settlement […]]]>

Nium, a global leader in modern money movement, today introduced a new brokerage payments solution that provides international financial institutions (FIs) with a faster, more cost-effective method of settling transactions to select U.S. brokers enabling clients to easily invest in US stocks.

Compared to transactions settled through the SWIFT international payments network, Nium reduces settlement costs for financial institutions by up to 90% for international brokerage account transactions.

Global brokerage firms are seeing increased retail investor interest in foreign stock markets, particularly in the United States. Until now, transaction settlement for financial institutions serving these brokerages on traditional payment networks has been costly and slow. Now, with Nium, FIs have the opportunity to significantly reduce costs and pass those costs on to customers or increase revenue. The best part, existing Nium customers don’t need any additional technology integration to take advantage of this solution.

“At Nium, we are constantly looking to give growing businesses global reach to move money smartly, quickly and securely. Our new payment solution for FIs sending money to brokerages enables their retail clients to invest in U.S. stocks – quickly and Nium’s new solution dramatically reduces the expense of these transactions, allowing FIs to share the cost savings with their clients or reinvest profits back into the business,” says Frederick Crosby, chief revenue officer at Nium.

Banks and financial institutions that integrate with Nium’s global payments network and new brokerage solution will now enjoy the following benefits:

Cost savings of up to 90%: Global financial institutions using the Nium brokerage solution can save up to 90% on every transfer and use those savings to generate P&L gains or increase volume by offering customers transfers cheaper.
Improved customer satisfaction: Decreased friction associated with investing in the US stock market for international investors boosts customer loyalty and brand affinity.
Increased Demand for New Partnerships: By leveraging Nium’s network to optimize payments on US brokerage accounts, global FIs can reach new customers by leveraging Nium’s low-cost transfers to create new brokerage partnerships.

As retail investors increasingly diversify their investments into global markets, banks and financial institutions hoping to compete in the global marketplace must continually innovate, iterate, and improve their technology stack and user experience. Today, integration with the Nium global payments network allows these global companies to maintain a competitive edge and differentiate themselves within the industry.

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Killilea appeals nearly 20 million euro payment order to trustee in bankruptcy https://sarahlong.org/killilea-appeals-nearly-20-million-euro-payment-order-to-trustee-in-bankruptcy/ Sat, 12 Mar 2022 05:50:00 +0000 https://sarahlong.org/killilea-appeals-nearly-20-million-euro-payment-order-to-trustee-in-bankruptcy/ Gayle Killilea, former wife of bankrupt real estate baron Sean Dunne, appealed this week against a 2019 US jury verdict ordering her to pay nearly 20 million euros to the trustee in her US bankruptcy. Ms Killilea’s attorney, Patrick Fahey, filed an appeal with the US Court of Appeals for the Second Circuit in New […]]]>

Gayle Killilea, former wife of bankrupt real estate baron Sean Dunne, appealed this week against a 2019 US jury verdict ordering her to pay nearly 20 million euros to the trustee in her US bankruptcy.

Ms Killilea’s attorney, Patrick Fahey, filed an appeal with the US Court of Appeals for the Second Circuit in New York on Thursday. She joined her estranged husband, Mr Dunne, who filed a separate appeal with the same court last year.

Mr Fahey did not return a voicemail requesting comment,

Thomas Curran, attorney for the bankruptcy trustee, said Friday he was confident the court would uphold the verdict.

“We will aggressively defend the judgment,” Mr. Curran said. “We believe his appeal has no merit.”

Ms Killilea’s appeal comes a week after she handed over 19.5 million euros in assets to the bankruptcy trustee to seek judgment in the 2019 civil lawsuit in Connecticut. The assets include proceeds from the sale of Walford, once Ireland’s most expensive house, and $5.56 million (€6 million) in cash.

Mr Dunne moved to the United States after his property empire collapsed and eventually declared bankruptcy there. After a nearly month-long trial, a jury found in June 2019 that Mr Dunne had fraudulently transferred assets to Ms Killilea to protect them from creditors and awarded the trustee £18.1 million euros, a figure which, with interest, rose to 19.5 million euros.

Shortly after the 2019 trial, the couple revealed they had divorced. During the proceedings and since, they have had separate lawyers and have sometimes clashed in court cases.

The nearly three years since the verdict have been marked by repeated negotiations that have failed to reach a settlement and a flurry of often contentious legal claims on both sides. The trustee eventually convinced US District Judge Jeffrey Meyer to order Ms Killilea to hand over enough assets to secure the judgment.

Towards a resolution?

The case finally appeared to be heading for a resolution last summer when Judge Meyer denied Mr Dunne’s request for a new trial. Last month, he dismissed the same petition filed by Ms Killilea.

As a result, the court overturned the stay on Mr Dunne’s appeal and ordered his lawyer to file a brief (a written legal argument) by May 12. The next step will be the pleadings before a panel of judges.

Federal appeals courts in the United States generally move slowly, so it will likely be some time before the former couple’s case is decided. If they lose, they would have a last resort in the United States Supreme Court.

In a further development, Ms Killilea’s longtime lawyers in the case withdrew in January, alleging she failed to pay them, according to a court filing. In a later filing, his new lawyer denied the dispute was about money.

Contacted by SMS, Ms. Killilea did not make a statement. Mr Dunne’s lawyer could not be reached for comment.


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Bankruptcy filing details $4 million distribution of Nordic Aviation Capital’s legal bill https://sarahlong.org/bankruptcy-filing-details-4-million-distribution-of-nordic-aviation-capitals-legal-bill/ Thu, 03 Mar 2022 02:30:00 +0000 https://sarahlong.org/bankruptcy-filing-details-4-million-distribution-of-nordic-aviation-capitals-legal-bill/ Late-night takeout, taxi fares and $1,800-an-hour lawyers rack up millions in fees for Limerick-based lessor Nordic Aviation Capital as it winds its way through bankruptcy in the United States. The lessor is also in the process of selling eight jets to American Airlines, according to court documents. The sale of the four aging Embraers and […]]]>

Late-night takeout, taxi fares and $1,800-an-hour lawyers rack up millions in fees for Limerick-based lessor Nordic Aviation Capital as it winds its way through bankruptcy in the United States.

The lessor is also in the process of selling eight jets to American Airlines, according to court documents.

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Antoine Walker has revealed the ‘most disappointing’ reason he shared his bankruptcy story https://sarahlong.org/antoine-walker-has-revealed-the-most-disappointing-reason-he-shared-his-bankruptcy-story/ Tue, 01 Mar 2022 16:04:00 +0000 https://sarahlong.org/antoine-walker-has-revealed-the-most-disappointing-reason-he-shared-his-bankruptcy-story/ Although it’s been a while since he’s touched professional hardwood, Antoine Walker was a capable NBA player during his day. The forward spent most of his career with the Boston Celtics before eventually winning a championship with the Miami Heat. These days, however, his bankruptcy has taken center stage. Walker, however, didn’t shy away from […]]]>

Although it’s been a while since he’s touched professional hardwood, Antoine Walker was a capable NBA player during his day. The forward spent most of his career with the Boston Celtics before eventually winning a championship with the Miami Heat. These days, however, his bankruptcy has taken center stage.

Walker, however, didn’t shy away from telling his story. In fact, he even appeared in a documentary explaining how he lost everything. During a recent episode of the I am an athlete podcast, he explained the heartbreaking reason he felt compelled to share.

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Crypto holders are closing in on brokerage account owners https://sarahlong.org/crypto-holders-are-closing-in-on-brokerage-account-owners/ Thu, 17 Feb 2022 22:02:55 +0000 https://sarahlong.org/crypto-holders-are-closing-in-on-brokerage-account-owners/ Research firm Morning Consult recently released its quarterly report and reveals some interesting data on crypto adoption in the United States. The company’s “The State of Consumer Banking and Payments” study attempts to provide insight into the new dynamics, attitudes and relationships between consumers and their banks and payment providers. Related Reading | ProShares Bitcoin […]]]>

Research firm Morning Consult recently released its quarterly report and reveals some interesting data on crypto adoption in the United States. The company’s “The State of Consumer Banking and Payments” study attempts to provide insight into the new dynamics, attitudes and relationships between consumers and their banks and payment providers.

Related Reading | ProShares Bitcoin ETF Reaches AUM Milestone, Brings CME to Life

The research firm based its findings on 50,000 survey interviews conducted in the Americas, Europe and the Asia-Pacific region. The firm also conducted a survey in December 2021 of a representative sample of 2,200 American adults.

Among their key findings, Morning Consult claimed that 2022 will see another crypto boom as these digital assets continue to be adopted. In this sense, the company said that owners of digital assets are not necessarily abandoning the legacy financial system, but “working with more” traditional payment providers.

As seen below, the report revealed that crypto owners are growing and have recently overtaken other traditional investment and savings vehicles, such as certificates of deposit and Robo-investment accounts. advise. Owners of digital assets made up 24% of respondents and are close to the 31% who said they own a brokerage account.

The latter allows US citizens to invest in stocks and access other securities regulated by the US Securities and Exchange Commission. The focus of crypto owners on equity investors represents a significant shift in the United States and could be an indicator of the future of the fledgling asset class.

Source: Morning Consult, The State of Consumer Banking and Payments.

Crypto is taking over the world, Latin America the friendliest region

The United States is far from the only region to have seen a boom in the adoption of digital assets. Singapore, China and Spain also saw significant increases on these conditions alongside the Latin America region. Morning Consult claimed the following on their discovery of digital asset adoption in other parts of the world highlighting how

Nearly 1 in 4 consumers (24%) in our recent global survey reported owning a cryptocurrency per household, up 2 percentage points from July. Latin American countries still have some of the highest rates of cryptocurrency ownership, but European nations of Germany, Spain, and the United Kingdom have increased significantly over the past six months.

Additional data provided by the report indicates that only 19% of respondents are satisfied with their bank, 17% with their credit card company, 17% with their digital bank and 13% with their credit union. This, along with the data provided above, suggests the potential start of a trend that could favor cryptocurrencies in the long run.

The report revealed that younger generations are more inclined to own digital assets, with Bitcoin ranking as one of the fastest growing brands of 2021. As seen below, millennials and adults in Gen Z with an income above $100,000 per year are the dominant groups in terms of crypto ownership.

Crypto survey
Source: Morning Consult, The State of Consumer Banking and Payments.

Related Reading | PayPal and Venmo will charge flat fees for crypto transactions under $200

At press time, Bitcoin is trading at $41,112 with a loss of 6.11% on the daily chart.

Crypto
BTC with moderate losses on the daily chart. Source: BTCUSD Tradingview

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Pensacola Chapter 7 Lawyers Discuss Possibility of Bankruptcy for Those With High-Interest Student Loans https://sarahlong.org/pensacola-chapter-7-lawyers-discuss-possibility-of-bankruptcy-for-those-with-high-interest-student-loans/ Thu, 17 Feb 2022 01:05:32 +0000 https://sarahlong.org/pensacola-chapter-7-lawyers-discuss-possibility-of-bankruptcy-for-those-with-high-interest-student-loans/ Pensacola, Florida – Although many debtors benefited from a pause in federal student loan payments during the pandemic, some people who have private student loans continued to struggle with payments throughout the pandemic. Pensacola Chapter 7 Lawyers, Lewis and Jurnovoy, want to encourage these people by reminding them that there is always a solution. For […]]]>

Pensacola, Florida – Although many debtors benefited from a pause in federal student loan payments during the pandemic, some people who have private student loans continued to struggle with payments throughout the pandemic. Pensacola Chapter 7 Lawyers, Lewis and Jurnovoy, want to encourage these people by reminding them that there is always a solution. For some, the best solution may be to file for bankruptcy.

The Student Borrower Protection Center estimates that approximately $50 billion in private student debt in the United States can be forgiven through bankruptcy. However, many student debtors do not realize that bankruptcy is an option.

Mike Pierce, executive director of the Student Borrower Protection Center, says, “For people who lost their jobs during the pandemic, who are struggling for money and still struggling to stay afloat, bankruptcy might be the best option for them. In particular, if they are already on the verge of bankruptcy due to medical debt or credit card debt, being able to escape these often very high interest private student loans is a lifesaver. rescue.

Since many student debtors are in their 30s and 60s, it can be easy for a debtor to look at their situation and become discouraged, assuming they will be making payments for the rest of their life. Lewis and Jurnovoy urge individuals in this circumstance to resist discouragement; it’s important to move on and explore all available options, rather than just being in debt forever. Whether the best option is to refinance, file for bankruptcy or change careers, there is always a solution!

Lewis and Jurnovoy are experienced debt relief lawyers in Pensacola, FL. For those considering filing for bankruptcy, Lewis and Jurnovoy offer free appointments, during which they will review and assess the individual’s financial situation. They strive to help each of their clients get through the bankruptcy process as quickly and easily as possible. For more information about bankruptcy assistance in or around Pensacola, call Lewis and Jurnovoy at (850) 409-3350 or visit them online atwww.LewisandJurnovoy.com.

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For more information about Lewis & Jurnovoy, PA Pensacola, contact the company here:

Lewis & Jurnovoy, Pennsylvania Pensacola
Martin Lewis
(850) 432-9110
[email protected]
1100 North Palafox Street
Pensacola, Florida 32501

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State Treasurer Gives 28 Reasons to Save with the 529 Account | daily city gate https://sarahlong.org/state-treasurer-gives-28-reasons-to-save-with-the-529-account-daily-city-gate/ Wed, 16 Feb 2022 14:59:00 +0000 https://sarahlong.org/state-treasurer-gives-28-reasons-to-save-with-the-529-account-daily-city-gate/ Treasurer Fitzgerald presents 28 reasons to save with a 529 account DES MOINES, Iowa — February may be the shortest month of the year, but State Treasurer Michael L. Fitzgerald has no shortage of reasons to save for education with a 529 account.” College Savings Iowa is the largest 529 plan in the state, accumulating […]]]>

Treasurer Fitzgerald presents 28 reasons to save with a 529 account

DES MOINES, Iowa — February may be the shortest month of the year, but State Treasurer Michael L. Fitzgerald has no shortage of reasons to save for education with a 529 account.” College Savings Iowa is the largest 529 plan in the state, accumulating more than $6.3 billion in assets across more than 280,000 accounts,” Fitzgerald said. “Here’s a list of 28 reasons why you should open an account for the child in your life – one for each day of the month!”

2. Assets grow tax-free

3, a $3,522 tax deduction for Iowa taxpayers in 2022*

4. Limit your child’s student loan debt

5. All investment options are professionally managed by Vanguard

6. Community colleges, trade and vocational schools, apprenticeship programs, and four-year universities are all examples of eligible educational institutions.

7. There are no geographical limitations, so your student can attend any qualifying institution of higher education in the United States or abroad

8. Pay eligible education costs, including tuition, room and board, textbooks and more**

9. Qualifying withdrawals are tax-free for all participants

10. Leave a meaningful gift for your grandchildren

11. Children with a dedicated college savings account are six times more likely to stay in school

12. You control the funds, no matter the age of the beneficiary

13. It only takes $25 and 10 minutes to open an account

14. Easy and Lasting Birthday and Holiday Gifts

15. Ten investment options to create your own personalized asset allocation OR

16. Four age-based investment tracks that automatically adjust as your child ages

17. Same low price for all the investment options you choose

18. The earlier you start, the more time your money has to potentially grow

19. Family and friends can easily contribute with Ugift

20. Set it and forget it with recurring contributions

21. Promote awareness and aspiration for higher education

22. Increase your child’s knowledge of saving and investing by involving them in the plan

23. Low fees – only pay $1.90 per year for every $1,000 saved

24. Manage your account in the palm of your hand with the READYSAVE529 app

25. No consultancy fees or sales commission

26. Several people can open separate accounts for the same student

27. Transfer the money to an eligible family member if the student does not use the money

28. No age limit or time limit in which the money must be used

Administered by Fitzgerald, College Savings Iowa has been helping families save for future college expenses for more than 20 years. More than $3.8 billion has already been used to help students achieve their educational dreams and pay eligible expenses at accredited programs across the country. For more information about College Savings Iowa, call (888) 672-9116 or visit CollegeSavingsIowa.com. Connect with Plan on Facebook and Twitter to stay up to date on current events and Plan updates.

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Bankruptcy judge orders stations back to Ed Stolz https://sarahlong.org/bankruptcy-judge-orders-stations-back-to-ed-stolz/ Tue, 08 Feb 2022 19:53:32 +0000 https://sarahlong.org/bankruptcy-judge-orders-stations-back-to-ed-stolz/ A federal bankruptcy judge ordered Receiver Larry Patrick to turn over 92.7 KREV Alameda/San Francisco, 97.7 KRCK-FM Mecca/Palm Springs, and 104.3 KFRH North Las Vegas to companies controlled by Royce International Broadcasting of Ed Stolz. California U.S. District Judge Jesus G. Bernal ordered Patrick’s appointment as receiver of the three former CHRs on July 6, […]]]>

A federal bankruptcy judge ordered Receiver Larry Patrick to turn over 92.7 KREV Alameda/San Francisco, 97.7 KRCK-FM Mecca/Palm Springs, and 104.3 KFRH North Las Vegas to companies controlled by Royce International Broadcasting of Ed Stolz.

California U.S. District Judge Jesus G. Bernal ordered Patrick’s appointment as receiver of the three former CHRs on July 6, 2020, authorizing him to solicit offers to sell the stations and manage the licenses in the interim. A $6 million sale to Christian operator VCY America closed in December 2020, with the network launching its programming on all three stations last spring. While Bernal considered the matter closed pending FCC approval of the sale following multiple appeal losses by Stolz, Stolz filed for Chapter 11 bankruptcy in October 2021.

On January 31, an emergency joint motion was granted by Judge August Landis of the United States Bankruptcy Court District of Nevada under 11 USC § 543(a) stating that Patrick “will not disburse nor take any action in the administration of Debtors’ property, proceeds, proceeds, offspring, rents or profits of such property, or property of Debtors’ Bankruptcy Estate, in possession, custody or control of the Receiver, except such steps as are necessary to preserve such property.For clarity, for the avoidance of doubt, and without limitation, Receiver shall not take any action for the purpose of alienating or selling any or all of the Licenses of radio broadcast issued to one of the Debtors by the Federal Communications Commission” and that under 11 USC § 543(b)(1) “The Receiver shall deliver to the Debtors, through their Managing Member Edward R. Stolz, any property of debtors held by or transferred é to the receiver, or the proceeds, proceeds, rents of offspring or profits of such property, which was in the possession, custody or control of the receiver on or after November 9, 2021”.

Patrick is also ordered to file an account of his operation of the stations since his appointment as receiver on April 8.

In the bankruptcy filing, Stolz’s companies claimed he owed Patrick $590,340 for receiver and attorney fees and unspecified amounts to other attorneys, VCY America, as well as Crown. Castle for the disputed leases of the issuer’s site.

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Commercial Bankruptcy Claims Market Revenue Expected to Grow by 2022-2026 https://sarahlong.org/commercial-bankruptcy-claims-market-revenue-expected-to-grow-by-2022-2026/ Mon, 07 Feb 2022 02:54:46 +0000 https://sarahlong.org/commercial-bankruptcy-claims-market-revenue-expected-to-grow-by-2022-2026/ “ The Commercial Bankruptcy Claims Market study examined the key influences for market growth. Driving factors which favorably influence the demand for Commercial Bankruptcy Claims, restraining factors which limit the market expansion and their impact on the global Commercial Bankruptcy Claims market are explored in detail. In the report research, trends shaping the market and […]]]>

The Commercial Bankruptcy Claims Market study examined the key influences for market growth. Driving factors which favorably influence the demand for Commercial Bankruptcy Claims, restraining factors which limit the market expansion and their impact on the global Commercial Bankruptcy Claims market are explored in detail. In the report research, trends shaping the market and influencing market growth are identified and analyzed in detail. In addition, the research also includes other qualitative variables, such as operational risks and key challenges faced by market participants in the commercial debt insolvency market. The report gives a decisive picture of the Bankruptcy Business Claim through market segmentation on the basis of type, application and area. All segments of commercial bankruptcy receivables have been assessed based on current and future trends. The data is intended for the Commercial Bankruptcy Claims Market and its divisions.

Request a sample report here https://www.orbisresearch.com/contacts/request-sample/4906968

The dominant players in the bankruptcy trade receivables economy have been

Pioneer Funding Group, LLC
MacLeod Company Ltd.
Doyle Salewski
ABC-Amega
Dun & Bradstreet
Hain Capital Group

The study has identified the categories that contribute the most to the overall market growth in terms of revenue and their growth drivers. The research covers the supply landscape and future growth aspects of the Commercial Bankruptcy Claims industry, as well as import and export statistics for the Commercial Bankruptcy Claims market. We have assessed the overall market size and share based on revenue generated from global sales and trade claim sales of major companies. The Bankruptcy Commercial Claims Market forecast was created based on extensive market research conducted by numerous industry experts. This research provides growth projections for the next several years, a critical assessment of changing market dynamics, current Commercial Bankruptcy Claims industry trends, restraints, market driving forces, and threats.

Analysis of Business Claims Industry Applications in Bankruptcy:

Financial activities
Oil & Gas/ Mining
Manufacturing
Radio and television
Retail
Others

Bankruptcy Trade Receivables Industry Type Analysis:

Commercial invoices
Privileges mechanics
lease
Enforceable contract rejection claims
Mortgage Notes
promissory notes
Others

This analysis allows users to assess the Commercial Bankruptcy Claims Market based on various parameters including economies of scale, switching costs, brand loyalty, existing distribution channels, investment in capital, manufacturing and patent rights, government regulations, advertising impact and consumer preferences. repercussions. All of these summary statistics should help important policymakers in the decision-making process. Additionally, the study also addresses the pressing topic of whether or not new entrants are entering the commercial bankruptcy claims market. The research also includes data for segment, including type, channel segment, Bankruptcy Commercial Claims industry sector, etc., covering both volume and value for different segments of the market.

Ask our expert if you have a question at: https://www.orbisresearch.com/contacts/enquiry-before-buying/4906968

Customer information is also covered in many industries, which is essential for manufacturers. This research studies the status and outlook of the Global and regional major Commercial Bankruptcy Claims market from perspectives of players, countries, product types and end industries; This report analyzes the top players in the global Commercial Bankruptcy Claims market, and splits the market by product type and applications/end industries. Also, the research recommends a market entry strategy for new market entrants.

Major Highlights of Commercial Bankruptcy Claims Market Report:

– Adoption of Commercial Bankruptcy Claims Market Ecosystem and Market Regions
– Global Commercial Bankruptcy Claims Market is shaped by key trends
– Revenue history and forecast size of Commercial Bankruptcy Claims Market (USD Million)
– Recent Developments in the Commercial Bankruptcy Claims Industry and Consumer Preferences
– Competitive landscape study and positioning of players for the global commercial bankruptcy claims market
– Solutions and key products of major Bankruptcy Commercial Claim players and business strategies
– Recommendation for new market enthusiasts and current Commercial Bankruptcy Claims market players
– Analysis of potential niches and segments (type, application and regions/countries) predicts promising growth
– Important obstacles for operators in the market for trade receivables in bankruptcy
– Significant Risk Analysis with respect to the Commercial Bankruptcy Claims Market

About Us:

Orbis Research (orbisresearch.com) is a one-stop-shop for all your market research needs. We have an extensive database of reports from leading publishers and authors around the world. We specialize in delivering customized reports according to our clients’ requirements. We have complete information about our publishers and therefore are sure of the accuracy of the industries and verticals of their specialization. This helps our clients map their needs and we produce the perfect market research required for our clients.

Contact us:

Hector Costello
Senior Manager – Client Engagements
Central Highway 4144N,
Suite 600, Dallas,
Texas – 75204, USA
Telephone number: United States: +1 (972)-362-8199 | IND: +91 895 659 5155
Email ID: [email protected]

Direct purchase report @ https://www.orbisresearch.com/contact/purchase-single-user/4906968

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MANTL launches corporate account opening https://sarahlong.org/mantl-launches-corporate-account-opening/ Tue, 01 Feb 2022 03:05:00 +0000 https://sarahlong.org/mantl-launches-corporate-account-opening/ On Wednesday, New York-based banking service provider MANTL launched a business account opening service that automates up to 97% of new account decisions, whether online, in person or “on the go”. ground “. Nathaniel Harley, co-founder and CEO of MANTL “MANTL is committed to developing technology that helps community banks and credit unions thrive in […]]]>

On Wednesday, New York-based banking service provider MANTL launched a business account opening service that automates up to 97% of new account decisions, whether online, in person or “on the go”. ground “.

Nathaniel Harley, co-founder and CEO of MANTL

“MANTL is committed to developing technology that helps community banks and credit unions thrive in today’s digital banking landscape. It is the first business account opening product on the market that can achieve high levels of efficiency and agility while providing businesses with a seamless user experience,” said Nathaniel Harley, Co-Founder and CEO . “To gain market share in corporate banking, community banks need to digitize their account opening process. MANTL makes onboarding a professional client as easy as onboarding a retail client.

Harley helped found MANTL as a challenger bank in 2016 before the company shifted from competing with peers in the community banking space to selling to them. The goal is to help modernize outdated banking infrastructure in the United States without breaking the bank. Community banks have become financial niche experts since the pivot of MANTL, but they need profitable ways to scale without having deep pockets like banking giants.

Open an account, online, from anywhere

MANTL has account opening software that allows clients to open a deposit account in less than three minutes. The company also claims that the app automates “90% of decision-making” and reduces fraud by 60%. It is even easier for small businesses to set up deposit accounts with MANTL’s partner banks.

A Cornerstone Advisors report commissioned by MANTL places small business deposit accounts as the top priority for banks in the United States this year. Forty percent of financial institutions rate their own business account processes as “fairly or very poor,” and more than half said their opening process limits their ability to grow.

In a separate report published in September, 57% of SMEs said they would not work with an institution that does not offer online account opening, even if they preferred to open a bank account in person. The same report showed that 78% of executives predicted a real estate crash in five years.

In December, Ron Shevlin, director of research at Cornerstone Advisors, told American Banker that it’s common for banks with $1 billion to $10 billion in assets to offer at least some type of online opening, although some still require customers to physically sign documents. .

“MANTL takes a customer- and market-driven approach to product development: we build alongside our customers to ensure we develop products that solve their problems and fill a void in the market,” said Colleen Wilson. , vice president of products, in a statement. .

“Business Account Opening by MANTL was designed from the ground up with both the business and banking experience in mind. In a world where branches are in decline, so is commerce In retail, it’s vital for a bank to bridge the digital and human experience, and we’ve solved both experiences and made each one best-in-class.

Half of banks are still not going digital

The new process is a 100% digital and self-service approach for SMB customers. On the banking side, a console allows banking staff to speed up approvals, assist customers, and verify KYC/AML in real time. According to the release, forms and document collection can be automated and uploaded online.

MANTL recently raised $40 million in a Series B round in April last year, bringing total funding to over $60 million.

At the time, Harley told Tech Crunch that he was going after the 10,000 community banks and credit unions in the United States, 96% of which were outsourcing their technology to outdated platforms.

“At a high level, Mantl is an enterprise software company that is really focused on helping traditional financial institutions modernize and grow,” Harley told TechCrunch. “Our mission ultimately is to truly expand access to financial services by supporting legacy infrastructure.”

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