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New York, NY – Four J.P. Morgan Wealth Management advisors were recognized on the Barron’s Top 100 Financial Advisors list, one of the most selective rankings in wealth management.

“These advisors continue to earn the industry’s most elite accolades,” said Phil Sieg, CEO of J.P. Morgan Advisors. “They are devoted to providing clients with exceptional service, and I’m proud to see their hard work recognized.”

Barron’s honored the following advisors:

Jordan Mayer – New York
Christopher Wimpfheimer – New York
Colleen O’Callaghan – New York
Elaine Meyers – San Francisco
Colleen and Elaine have previously been selected for the Barron’s Top 100 list, most recently in 2022.

J.P. Morgan Wealth Management continues to invest heavily in technology, top talent and resources to offer exceptional support for its advisors and clients. These initiatives include its concierge service for J.P. Morgan Advisors which offers personal, on-demand assistance to help advisors better serve clients, and the Client Relationship Succession Program which provides advisors a unique opportunity to grow their business while helping tenured advisors build a path toward retirement.

Barron’s ranks the top 100 financial advisors in the U.S. The rankings are based on assets under management, revenues generated by the advisors for their firms, and the quality of advisors’ practices.

To see the full ranking, visit: https://www.barrons.com/advisor/report/top-financial-advisors/100?page=1&

Barron’s Top 100 Financial Advisors (04/14/23, data as of 12/31/22); (04/15/22, data as of 12/31/21). Ratings may not guarantee future success or results. Fee paid to rating provider for advertisement materials after rating announced. Methodology here: jpmorgan.com/award-disclosures

About J.P. Morgan Wealth Management
J.P. Morgan Wealth Management is the U.S. wealth management business of JPMorgan Chase & Co., a leading global financial services firm with assets of $3.7 trillion and operations worldwide. J.P. Morgan Wealth Management has ~5,100 advisors and ~$691 billion of assets under supervision. Clients can choose how and where they want to invest. They can do it digitally, remotely, or in person by meeting with an advisor in one of our more than 4,700 Chase branches throughout the U.S., or in one of our 30 offices. For more information, go to www.jpmorgan.com/wealth and follow @JPMWealth on Twitter and J.P. Morgan Wealth Management on LinkedIn.

INVESTMENT AND INSURANCE PRODUCTS ARE:
• NOT FDIC INSURED • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY • NOT A DEPOSIT OR OTHER OBLIGATION OF, OR GUARANTEED BY, JPMORGAN CHASE BANK, N.A. OR ANY OF ITS AFFILIATES • SUBJECT TO INVESTMENT RISKS, INCLUDING POSSIBLE LOSS OF THE PRINCIPAL AMOUNT INVESTED

J.P. Morgan Wealth Management is a business of JPMorgan Chase & Co., which offers investment products and services through J.P. Morgan Securities LLC (JPMS), a registered broker-dealer and investment adviser, member FINRA and SIPC. Insurance products are made available through Chase Insurance Agency, Inc. (CIA), a licensed insurance agency, doing business as Chase Insurance Agency Services, Inc. in Florida. Certain custody and other services are provided by JPMorgan Chase Bank, N.A. (JPMCB). JPMS, CIA and JPMCB are affiliated companies under the common control of JPMorgan Chase & Co. Products not available in all states.

BEIJING, International Finance Forum (IFF) has kickstarted its 2022 spring meetings on April 27 in Beijing with the theme of “New Global Landscape: Challenges and Responses”.

Participated by global political and financial leaders such as the International Monetary Fund (IMF) and the Shanghai Cooperation Organization, the forum aims to discuss the challenges faced by the global community and how countries can work together to boost global economic governance through international cooperation.

In a keynote speech, Pierre-Olivier Gourinchas, Chief Economist of the International Monetary Fund, said the IMF has cut its global economic growth forecast to 3.6% for this year due to multiple adverse factors, and that the organization continued to hold a dim view on the global economic outlook.

Gourinchas noted that China’s Covid-19 containment measures have successfully put the number of deaths and infection cases under control over the past two years, ensuring stable operations of economic activities.

Now, the main challenge for the world’s second-largest economy is the relatively low vaccination rate among elders aged over 75, Gourinchas said, adding that improvement on vaccination coverage remains a key factor for global economic recovery.

Meanwhile, when it comes to issues brought by climate change, Zhou Xiaochuan, IFF Chairman and a former governor of the People’s Bank of China, said the financial sector should have the courage to take up certain responsibilities with measures to tackle related problems in financing and pricing. Building a unified carbon market is the best solution, Zhou added.

Azymbakiev Muratbek Abakirovich, Deputy Secretary-General of Shanghai Cooperation Organization, said that the world economy continues to face the fallout of the Covid-19 pandemic coupled with the rise of trade protectionism, hindering the sustainable and balanced growth of the economy.

In the post-pandemic era, stable economic growth could be significantly impacted by risks triggered by the politicization of global economic relations, the weakening of global governance and flagging progress in international trade reforms, Muratbek Abakirovich said. The risks caused by climate change, resource depletion and environmental degradation will have to be managed and controlled, he added.

Also at the event, Han Seung-soo, IFF Co-chairman and Korea’s former Prime Minister, urged the global community to overcome the upcoming global financial crisis through tighter cooperation.

With a goal to dissect global challenges and exchange ideas on potential solutions, the IFF spring meetings gathered world leaders to discuss how China and the world could take actions to accelerate economic growth, while geopolitical turbulence continues amid the pandemic, alongside intensifying food and energy crises, and threats to the global industrial and supply chain security.

About International Finance Forum

IFF is an independent, non-profit, non-governmental international organization founded in Beijing in 2003. Established by financial leaders from more than 20 countries, regions and international organizations including China, the US, EU and UN, the forum is a long-standing, high-level platform for dialogue and communication. For more information, please visit: http://www.iff.org.cn/php/list.php?tid=477

SOURCE International Finance Forum (IFF)

CONTACT: Steel Shen, (86)10-5087-3634, steel.shen@iff.org.cn

NEW YORK, Feb. 9, 2022 — Bank of America Community Development Banking (CDB) provided $6.6 billion in loans, tax credit equity investments, and other real estate development solutions in 2021, surpassing a previous record of $5.9 billion in financing in 2020.

CDB deployed $4.1 billion in debt commitments and $2.5 billion in investments to help build strong, sustainable communities through affordable housing and economic development across the country.

Community Development Banking video featuring Maria Barry, National Executive for Community Development for Bank of America
Community Development Banking video featuring Maria Barry, National Executive for Community Development for Bank of America
“The need for affordable housing in communities across the U.S. has continued to grow during the pandemic, and our Community Development Banking team has been there to serve clients through these most uncertain times,” said Maria Barry, Community Development Banking national executive at Bank of America. “We remain steadfast in our commitment to advising clients and providing creative financing solutions to help build safe, affordable housing and to supporting the communities where we live and work.”

CDB delivers innovative financing solutions to help create affordable housing for individuals, families, seniors, veterans, the formerly homeless, and those with special needs. These efforts are part of the company’s commitment to deploying capital to address global issues outlined in the United Nations Sustainable Development Goals (SDGs).

From 2005 to 2021, Community Development Banking financed more than 263,000 housing units, of which 86% (more than 227,000) are affordable housing.

In 2021, CDB-financed developments produced more than 13,000 housing units, of which 90% (more than 11,600) were affordable housing units. This included:

3,200 units for seniors.
3,400 units for formerly homeless, veterans or those with special needs.
5,500 certified green units.
Last year, CDB provided $1.6 billion to finance 3,300 housing units where developers included access to health-related services such as vaccines and flu shots, wellness exams, nutrition education and mental health assistance. CDB also provided more than $368 million in financing to minority- or woman-led affordable housing developers, which resulted in 1,500 affordable housing units.

In addition, in April 2021, Community Development Banking was the first bank to launch a fund with dedicated financing and support to BIPOC (Black, Indigenous and People of Color) developers. In partnership with Enterprise Community Partners, CDB announced a $60 million investment to support Enterprise’s Equitable Path Forward, a five-year initiative to help facilitate racial equality in housing. We are reviewing proposals from minority developers of multi-family, affordable and supportive housing to provide increased access to capital and career development opportunities across the Bank’s footprint.

This commitment complements Bank of America’s $1.25 billion, five-year commitment to help advance racial equality and economic opportunity. The work focuses on closing the racial wealth gap in Black and Hispanic-Latino communities with a focus on affordable housing, health and healthcare, jobs/reskilling and small business.

Bank of America Global Corporate and Investment Banking also provided $412 million in tax credit investments, bringing the 2021 total to $7 billion in affordable housing and economic development financing.

Bank of America

Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 67 million consumer and small business clients with approximately 4,200 retail financial centers, approximately 16,000 ATMs, and award-winning digital banking with approximately 41 million active users, including approximately 33 million mobile users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.

Reporters may contact:

Anu Ahluwalia, Bank of America
Phone: 1.646.855.3375
anu.ahluwalia@bofa.com

SOURCE Bank of America Corporation

SANTA CLARA, Calif., Jan. 10, 2022 — Silicon Valley Bank, the bank of the world’s most innovative companies and their investors, today announced it has committed to provide at least $5 billion by 2027 in loans, investments and other financing to support sustainability efforts and the company has set a goal to achieve carbon neutral operations by 2025.

“Our ability to make a meaningful difference for people and the planet, and to address the systemic risk that climate change presents, is magnified by the outsized impact our innovative clients make,” said Greg Becker, CEO, Silicon Valley Bank. “Over the last 12 years, our Climate Tech and Sustainability and Project Finance teams, for example, have supported hundreds of companies that are working to accelerate the transition to a more sustainable, low carbon world.”

SVB’s sustainable finance commitment aims to support companies that are working to decarbonize the energy and infrastructure industries and hasten the transition to a sustainable, net zero emissions economy in several related sectors:

Circular economy
Climate resilience
Energy efficiency and demand management
Green buildings
Renewable energy, energy storage and grid infrastructure
Sustainable agriculture and alternative foods
Sustainable transportation
Technology solutions that mitigate greenhouse gas emissions
Waste management and pollution control
Water technology
View SVB’s Sustainable Finance Commitment here.

SVB’s Project Finance team specializes in construction financing, back-leverage debt financing and syndication financing. SVB’s Climate Tech and Sustainability team works with hundreds of companies across sectors innovating for positive environmental change. Based on SVB’s new commitment, the company is prepared to invest in the expansion of its platform including lending and investing to accommodate and serve even more clients and climate-positive projects in the coming years.

View SVB’s Future of Climate Tech report here.

SVB is also committed to reducing its own emissions and is taking steps to achieve carbon neutral operations, including business travel, and 100% renewable electricity by 2025.

For more information and to read SVB’s full 2021 Corporate Responsibility report focused on SVB’s environmental, social and governance (ESG) practices, please visit https://www.svb.com/about-us/living-our-values

About Silicon Valley Bank
Silicon Valley Bank (SVB) helps innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at svb.com. SIVB-C

SOURCE Silicon Valley Bank

CONTACT: Eileen Nolan, Silicon Valley Bank, enolan@svb.com

BEIJING, Oct. 30, 2021 — In early October, the International Monetary Fund, in its World Economic Outlook, trimmed its 2021 global growth forecast to 5.9 percent and warned of high uncertainty in economic recovery.

Against such a backdrop, the leaders of the world’s 20 largest economies gathered in Italy’s Rome on Saturday trying to make the multilateral platform work again — just as it did when they held two summits a year in the immediate aftermath of the 2008 global financial meltdown.

Cooperation against pandemic
As the COVID-19 still ravages the world, global vaccine cooperation was prioritized by Chinese President Xi Jinping when delivering his speech via video at the first session of the summit.

He proposed a six-point Global Vaccine Cooperation Action Initiative with a focus on vaccine R&D cooperation, fair distribution of vaccines, waiving intellectual property rights on COVID-19 vaccines, smooth trade in vaccines, mutual recognition of vaccines and financial support for global vaccine cooperation.

Inequality in vaccine distribution is prominent, with low-income countries receiving less than 0.5 percent of the global total and less than 5 percent of Africa’s population is fully vaccinated, according to the World Health Organization (WHO).

The WHO has set two targets to deal with the pandemic: to vaccinate at least 40 percent of the world’s population by the end of this year and increase it to 70 percent by mid-2022.

“China is ready to work with all parties to increase the accessibility and affordability of vaccines in developing countries and make positive contributions to building a global vaccine defense line,” Xi said.

China has provided over 1.6 billion doses of vaccines for over 100 countries and international organizations to date. In total, China will provide over 2 billion doses for the world in the whole year, he added, noting that China is conducting joint vaccine production with 16 countries.

Building open world economy

In promoting the economic recovery, the president stressed that the G20 should prioritize development in macro policy coordination, calling for making global development more equitable, effective and inclusive to ensure that no country will be left behind.

“Advanced economies should fulfill their pledges on official development assistance and provide more resources for developing countries,” Xi said.

He also welcomed the active participation of more countries in the Global Development Initiative.

Not long ago, he proposed the Global Development Initiative at the United Nations and called on the international community to strengthen cooperation in areas of poverty alleviation, food security, COVID-19 response and vaccines, development financing, climate change and green development, industrialization, digital economy and connectivity.

The initiative is highly compatible with the G20’s goal and priority of promoting global development, Xi said.

Adherence to green development

Meanwhile, addressing climate change is high on the global agenda as the 26th session of the Conference of the Parties (COP26) to the UN Framework Convention on Climate Change will open on Sunday in Glasgow, Scotland.

In this context, Xi urged developed countries to lead by example on emissions reduction, saying that countries should fully accommodate the special difficulties and concerns of developing countries, deliver on their commitments of climate financing, and provide technology, capacity-building and other support for developing countries.

“This is critically important for the success of the upcoming COP26,” he said.

Xi has, on many occasions, highlighted China’s view on global climate governance and expressed China’s firm support for the Paris Agreement, facilitating major progress at the global level.

In 2015, Xi delivered a keynote speech at the Paris Conference on Climate Change, making a historic contribution to the conclusion of the Paris Agreement on global climate action after 2020.

Earlier this month, he emphasized efforts to achieve China’s carbon peak and neutrality targets when addressing the leaders’ summit of the 15th meeting of the Conference of the Parties to the Convention on Biological Diversity.

The G20 summit this year was held both online and offline under the Italian Presidency, focusing on the most pressing global challenges, with issues related to the COVID-19 pandemic, climate change and economic recovery topping the agenda.

Created in 1999, the G20 comprising 19 countries plus the European Union, is the main forum for international cooperation on financial and economic issues.

The group accounts for almost two-thirds of the world’s population, over 80 percent of the global Gross Domestic Product and 75 percent of global trade.

https://news.cgtn.com/news/2021-10-30/China-puts-forward-proposals-on-boosting-global-development-14MDU37P5gk/index.html

SOURCE CGTN

CONTACT: Jiang Simin, +86-188-2655-3286, cgtn@cgtn.com

Related Links
www.cgtn.com

WASHINGTON, 21 October 2021 / PRN Africa / — Sub-Saharan Africa is projected to grow by 3.7 percent in 2021 and 3.8 percent in 2022 – a welcome but relatively modest recovery, suggesting that divergence with the rest of the world will persist over the medium term.

The crisis has highlighted key disparities in resilience between countries in sub-Saharan Africa and has also exacerbated preexisting vulnerabilities and inequality within each country. Moreover, food price inflation threatens to jeopardize previous gains in food security and exacerbate social and political instability.

As the pandemic continues, authorities face an increasingly difficult policy environment, with rising needs, limited resources, and difficult tradeoffs. Saving lives remains the top priority, but there is also an urgent need for spending prioritization, revenue mobilization, enhanced credibility, and an improved business environment.

International solidarity and cooperation remain vital, not only on vaccination but also on addressing other critical global issues, such as climate change.

Sub-Saharan Africa’s economy is set to recover in 2021 – a marked improvement over the extraordinary contraction of 2020. This rebound is most welcome and primarily results from a favorable external environment, including a sharp improvement in trade and commodity prices. In addition, improved harvests have lifted agricultural production. Yet, the outlook remains highly uncertain as the recovery depends on the progress in the fight against COVID-19 and is vulnerable to disruptions in global activity and financial markets, the International Monetary Fund (IMF) said in its latest Regional Economic Outlook for Sub-Saharan Africa.

“As sub-Saharan Africa navigates through a persistent pandemic with repeated waves of infection, a return to normal will be far from easy,” stressed Abebe Aemro Selassie, Director of the IMF’s African Department. “In the absence of vaccines, lockdowns and other containment measures have been the only option for containing the virus.

“At 3.7 percent this year, the recovery in sub-Saharan Africa will be the slowest in the world—as advanced markets grow by more than 5 percent, while other emerging markets and developing countries grow by more than 6 percent. This mismatch reflects sub-Saharan Africa’s slow vaccine rollout and stark differences in policy space.

“Real per capita income is expected to remain close to 5½ percent below precrisis trends, with permanent real output losses ranging between -21 percent and -2 percent. The non-resource-intensive countries are growing at a much faster rate than resource-rich countries—a pattern that precedes the crisis and has been amplified by recent events, highlighting fundamental differences in resilience. Non-resource-intensive countries have a more diverse economic structure, which helps them adjust and recover faster. Commodity price increases have also helped some countries, but these windfall gains are often volatile and cannot substitute more enduring sources of growth. Furthermore, differences in fiscal space also help to explain cross-country differences in the current pace of recovery.

“Widening gaps between countries have been accompanied by growing divergence within countries, as the pandemic has had a particularly harsh impact on the region’s most vulnerable. With about 30 million people thrown into extreme poverty, the crisis has worsened inequality not only across income groups, but also across subnational geographic regions, which may add to the risk of social tension and political instability. In this context, rising food price inflation, combined with reduced incomes, is threatening past gains in poverty reduction, health, and food security.

“Furthermore, increasing debt vulnerabilities remain a source of concern, and many governments will have to undertake fiscal consolidation. Overall, public debt is predicted to decline slightly in 2021 to 56.6 percent of GDP but remains high compared to a pre-pandemic level of 50.4 percent of GDP. Half of sub-Saharan Africa’s low-income countries are either in or at high risk of debt distress. And more countries may find themselves under future pressure as debt-service payments account for an increasing share of government resources.

Against this backdrop, Mr. Selassie pointed to a number of policy priorities. “The difficult policy environment that authorities faced before the crisis has been made more demanding by the crisis. Policymakers face three key fiscal challenges: 1) to tackle the region’s pressing development spending needs; 2) to contain public debt; and finally, 3) to mobilize tax revenues in circumstances where additional measures are generally unpopular. Meeting these goals has never been easy and entails a difficult balancing act. For most countries, urgent policy priorities include spending prioritization, revenue mobilization, enhanced credibility, and an improved business climate.

“The recent SDR allocation has boosted the region’s reserves, easing some of the burden of authorities as they guide their countries’ recovery. And rechanneling SDRs from countries with strong external positions to countries with weaker fundamentals could help to bolster the region’s resilience.

“On COVID-19, international cooperation on vaccination is critical to address the threat of repeated waves. This would help prevent the divergent recovery paths of sub-Saharan Africa and the rest of the world from hardening and becoming permanent fault lines, which would jeopardize decades of hard-won social and economic progress.

“Looking further ahead, the region’s vast potential remains undiminished. But the threat of climate change—and the global process of energy transition—suggest that sub-Saharan Africa may need to adopt a more innovative and greener growth model. This presents both challenges and opportunities, and it underscores the need for bold transformative reforms and continued external funding. Such measures may not be easy, but they are key prerequisites of the long-promised African century.

SOURCE International Monetary Fund (IMF)

ZURICH, Oct. 15, 2021 — The Geneva Association and the Organisation for Economic Cooperation and Development (OECD) co-hosted a high-level conference on 12 October 2021, Future-Proofing Technological Innovations for a Resilient Net-Zero Economy, with the aim of providing input for the discussions that will take place at COP26 in Glasgow in November. The strategic, multi-stakeholder conversation brought together CEOs and senior officials from the insurance industry, financial sector, engineering community, government, United Nations, OECD, World Economic Forum, and World Business Council for Sustainable Development.

Geneva Association conference on the role of insurers in reaching net zero
Geneva Association conference on the role of insurers in reaching net zero
An unprecedented transformation across society and economic sectors is needed to achieve ambitious net-zero targets over the next few decades. Expanding and deploying technological innovations will be critical. “The confluence of post-pandemic reconstruction, the climate crisis and social imbalances from technology and globalisation, is a historic opportunity for shaping a technological and institutional revolution that can unleash a smart, green and fair golden age for all,” said Professor Carlota Perez, world-renowned expert on technological revolutions.

There are myriad risks associated with the deployment of untested technologies. As the world’s risk managers and a significant source of investment capital, the role of insurers will be essential to scaling up technological solutions. Jeffrey Schlagenhauf, Deputy Secretary-General of the OECD, said “The successful transition to a net-zero economy will require a complete transformation of the technologies used across all sectors of the economy. Insurance regulators and supervisors have a critical role to play in creating an enabling environment that facilitates insurance companies’ capacity to support this transition as underwriters, risk managers, and providers of the needed capital investment.”

The discussion focused on the technological innovations necessary to accelerate decarbonisation and achieve climate targets and the key role of the insurance industry in supporting those innovations. Charles Brindamour, CEO of Intact Financial and Chairman of The Geneva Association, said: “Insurers play a key role in enabling innovation and prosperity in all areas of the economy. We can be a key agent in de-risking the transition towards a sustainable future, by leveraging our strengths and expertise in data analytics, pricing, risk management and prevention. Governments also have a powerful role to play. They can send strong signals by establishing a focused agenda, setting consistent climate priorities and supplying new capital to accelerate clean tech growth.”

Patricia Espinosa, Executive Secretary of the United Nations Framework Conventions on Climate Change (UNFCCC) referred in her keynote statement to decarbonisation and achieving net zero as the most significant economic transformation in our history, and called for the insurance industry to redirect underwriting and investments to decarbonise the economy in alignment with the Paris Agreement.

Maryam Golnaraghi, Director Climate Change and Environment at The Geneva Association, stressed: “The role of insurers in assessing, pricing and managing the untested risks associated with new technologies and processes will be fundamental for large-scale implementation and raising private capital. This conference is the launch point for The Geneva Association’s exciting new research initiative on ‘innovating insurance solutions for de-risking climate technologies towards net zero’.”

The full webcast of the Geneva Association-OECD conference is available at:

www.genevaassociation.org/GANetZeroConf-recording

Key points from conference discussions:

Insurers play a vital role in assessing, pricing and managing risks related to untested technologies for sectors to transition to net-zero emissions. Innovations in insurance products and services are needed to support adoption and large-scale deployment, where market conditions allow.
Governments can provide the enabling environment to incentivise market development and boost demand for technological innovations in energy, transportation, food and water systems and other carbon-intensive sectors – as well as the greening of the public infrastructure.
Enhanced coordination of public and private investments, aligning investors’ risk/return profiles and de-risking could enable more sustained financing for the commercialisation of climate technologies,.
Deeper cross-sectoral partnerships can fast track the de-risking and adoption of new technologies, particularly between insurers, carbon-intensive industries, technology and engineering companies, the financial sector and governments.

About The Geneva Association
The Geneva Association is the only global association of insurance companies; its members are insurance and reinsurance CEOs. Based on rigorous research conducted in collaboration with its members, academic institutions and multilateral organisations, The Geneva Association investigates key risk areas that are likely to impact the insurance industry, develops corresponding recommendations and provides a platform for stakeholders to discuss them. In total, the companies of Geneva Association members are headquartered in 25 countries around the world; manage USD 17.1 trillion in assets; employ 2.4 million people; and protect 1.8 billion people.

SOURCE The Geneva Association

CONTACT: Pamela Corn, Director Communications, +41 44 200 49 96, pamela_corn@genevaassociation.org

NEW YORK, Oct. 14, 2021 /PRNewswire/ — Deloitte today announced the launch of its ConvergeHEALTH CognitiveSpark™ for Marketing artificial intelligence (AI) precision engagement solution, a module of the CognitiveSpark suite. CognitiveSpark for Marketing harnesses the power of AI to boost digital marketing return on investment (ROI) for life sciences companies, helping marketers make AI-powered decisions at scale and with speed.

CognitiveSpark for Marketing harnesses the power of AI to boost digital marketing ROI for life sciences companies.

CognitiveSpark™ for Marketing: An Artificial Intelligence (AI) Solution
CognitiveSpark™ for Marketing: An Artificial Intelligence (AI) Solution
A recent Deloitte survey of biopharma executives found that digital innovation is now a burning priority, with 77% of those surveyed saying their organization considers “digital innovation as a competitive differentiator.” And in the same survey, 86% of commercial leaders pointed to “health care provider (HCP)/patient engagement as the top use case likely to be impacted by digital innovation.”

Digital transformation and ultimately how that transformation helps patients, is a key imperative for biopharma Clients. Clients want a solution that helps them identify new opportunities, personalize content to each customer’s journey, and create new insights and modeling to improve customer targeting and experiences. Most importantly, they want to better understand the latent drivers of customer behavior to deliver the information customers need to manage their health — all while preserving transparency and trust.

Life sciences companies face several challenges when using digital marketing approaches to improve patient engagement, including:

Siloed marketing and sales functions: “Stove pipe” patient marketing, and sales functions contribute to disconnected engagement.
Data access and integration challenges: Promotional data comes from a variety of sources, making it difficult to identify, integrate and leverage data from impression through to revenue increase.
Theoretical versus experiential business rules: Patient engagement strategies are often based on rigid and simple if/then business rules, making it difficult to identify and optimize engagement drivers.
Loosely coupled decisioning and engagement layers: Omni-channel patient engagement isn’t tied to a robust decisioning layer that can be fine-tuned to support marketing execution.
CognitiveSpark for Marketing addresses these challenges by providing a flexible approach to connect disparate data sets, breaking down traditional siloes for insight-driven decision-making. The modular, cloud-based product includes:

Integrated data sets: Combines brand impression data with patient longitudinal data to produce an integrated, de-identified data set for analysis.
Quality data sets: Integrates claim data from 320 million patient lives to provide a robust foundation for analysis.
Leading AI technologies: Applies next-gen machine learning and analytic technologies to provide actionable insights and recommendations.
Multi-dimensional visualizations: Provides highly targeted and visual illustrations that translate the noise of data into consumable pieces of information.
Free form user analysis: Enables users to drill down into source data to generate their own queries and insights.
“Digital transformation enabled by AI and machine learning is affecting virtually every aspect of the life sciences value chain,” said Aditya Kudumala, principal, Deloitte Consulting LLP, in Deloitte’s life sciences technology practice. “And when deployed strategically, and scaled across the entire enterprise, AI can help life sciences companies reshape business models, streamline manufacturing, and enhance everything from research to clinical trials to product intelligence. That’s the vision for the CognitiveSpark Suite of products — use AI to bring big data to life and ultimately help life sciences companies be more personalized and authentic in how they engage with health care professionals, patients and other stakeholders.”

CognitiveSpark for Marketing features a focused set of marketing modules built off campaign, behavioral, and medical data — connected in a manner that is designed to provide data privacy, patient safety and security. The cloud-based solution can integrate within an existing marketing analytics ecosystem to generate knowledge and inform marketing spend across multiple channels.

“Patients are surrounded by advertisements for pharmaceutical and health care products, as well as multiple, confusing marketing messages; and at the same time brand teams inherently face a degree of uncertainty in every decision they make,” said Mark Miller, managing director with Deloitte Consulting LLP. “CognitiveSpark for Marketing brings precision and clarity to brand teams and the audiences they are trying to reach so there can be better engagement, more satisfying experiences and ultimately more trust with patients and partners.”

About the ConvergeHEALTH CognitiveSpark Suite
Deloitte develops AI offerings that span the life sciences value chain — from molecule to market — including products through its ConvergeHEALTH CognitiveSpark suite. These AI solutions can help biopharma automate data management for clinical trials; improve manufacturing yield and product quality; leverage patient-generated insights for product enhancement; and power precision patient engagement in marketing. The ConvergeHEALTH CognitiveSpark suite offers a robust, integrated suite of AI-driven capabilities, solutions and products. Built on Deloitte’s CortexAI™, a secure scalable multi-cloud infrastructure, the CognitiveSpark suite is also scalable and flexible enough to integrate with a client’s existing AI platforms. Using CognitiveSpark, life sciences companies can generate new transformative opportunities, drive operational efficiency, fuel business growth — and importantly, benefit patients.

For more information please visit: https://www2.deloitte.com/us/CognitiveSpark-Marketing

About Deloitte
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world’s most admired brands, including nearly 90% of the Fortune 500® and more than 7,000 private companies. Our people come together for the greater good and work across the industry sectors that drive and shape today’s marketplace — delivering measurable and lasting results that help reinforce public trust in our capital markets, inspire clients to see challenges as opportunities to transform and thrive, and help lead the way toward a stronger economy and a healthier society. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Building on more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte’s more than 345,000 people worldwide connect for impact at www.deloitte.com.

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.

SOURCE Deloitte

CONTACT: Julie Landmesser, Public Relations, Deloitte Services LP, +1 219 501 1468, jlandmesser@deloitte.com

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www.deloitte.com

TORONTO, – Today, Visa Canada announced another round of recipients of its She’s Next Grant Program in Canada to boost women entrepreneurship, aiding in COVID-19 recovery and empowering growth and innovation. In collaboration with IFundWomen, ten additional Canadian women entrepreneurs each received a grant of $10,000 CAD and one-year business coaching to support, grow and expand their businesses.

Small businesses, especially those run by women, continue to struggle because of the pandemic, with the Canadian Federation of Independent Business (CFIB) estimating that total debt held by small businesses in Canada is $139 billion.i Many businesses find themselves in a tough position because sales haven’t bounced back to where they were pre-pandemic, and according to Visa’s 5th edition of the Back to Business global study, 2 in 5 Canadian small businesses think challenges caused by the pandemic will outlast the pandemic itself. Grant programs can help with this, offering financial support, while also fueling growth and innovation.

“Aiding in small business recovery and empowering entrepreneurs to keep growing and innovating is critical right now as we continue to live in a pandemic-challenged world,” said Stacey Madge, president and country manager, Visa Canada. “When it comes to where to shop, Canadians prioritize shopping locally, and now more than ever, appreciate what each small business brings to their communities. That’s why we have an ongoing commitment to them, particularly women-led businesses that have been disproportionately impacted during the pandemic. We congratulate the ten women entrepreneurs selected, they come from all sorts of backgrounds and industries, and truly are an inspiration.”

“We thank Visa for their continued support of women entrepreneurs across Canada,” said Karen Cahn, Founder & CEO at IFundWomen. “The She’s Next Grant Program has broken down barriers for women to access grant funding by removing a revenue requirement and allowing applicants to convey their growth potential throughout the application. This additional round of grants is a demonstration of Visa’s unwavering commitment to Canadian small businesses, and women-led small businesses specifically, and we look forward to the impact these grants will have on the recipients and their communities.”

This round of She’s Next Grant Program recipients span diverse backgrounds and industries from apparel, food & beverage and home goods, to professional services, non-profit and social good-for-profit, each offering innovative solutions and products:

Brave Soles, Toronto, ON: Brave Soles believes in the power of circular fashion to build a better future for all of us. The focus of the company is on crafting classically styled footwear and accessories with upcycled materials and ethical, small scale production chains.
EarthPup, Toronto, ON: EarthPup is addressing the food waste problem in Canada by turning nutrient-dense food otherwise destined for landfill, into healthy dog treats. To date, they have rescued over 1,100 pounds of food from going to landfills.
Employ to Empower, Vancouver, BC: BIPOC-owned, Employ to Empower (ETE) is a registered charity that focuses on empowering individuals who face barriers by cultivating community through entrepreneurship and self-advocacy opportunities.
Kind Karma Company, Toronto, ON: BIPOC-owned, Kind Karma is a social enterprise that employs at-risk and homeless youth in Toronto to handcraft fine jewelry. In addition to fair hourly wages, proceeds from sales are returned to youth artisans to support their individual goals such as funding education, housing and courses.
Monday Girl, Toronto, ON: The Monday Girl Social Club is a BIPOC-owned company revolutionizing the way young professional women build their careers in Canada with a unique career platform that gives members access to exclusive networking opportunities, resume reviews, coaching, a resource library, courses, job board, mentorship, and more.
Nuba, Oakville, ON: A mother and daughter team passionate about sharing the traditional Egyptian beverages that have been passed down through generations in their family. Nuba brews natural & healthy herbal infusions with unique ingredients like hibiscus flowers, Tamarind & Carob for amazingly delicious, authentic drinks.
Our Ancestories Corporation, Oakville, ON: Our Ancestories, a BIPOC-owned publishing company, creates children’s books that share positive stories based on African History.
Remix Snacks, Markham, ON: Remix Snacks is a BIPOC-owned snack company that was born from a simple mission created by two dietitians looking to fill a void in the snack industry: to create simple, healthy snacks that are good for the consumers’ well-being and good for the environment by using beans as a source of plant-based protein, and upcycled ingredients to reduce food waste.
The Plot Market Garden, Victoria, BC: The Plot Market Garden is combating food insecurity on Vancouver Island by providing healthy, fresh produce to locals.
Toronto Womxn in Data Science, Toronto, ON: Toronto Womxn in Data Science has the vision to empower a million data-literate womxn, increase retention and recruitment of womxn in data professions and increase innovation in this space. Founded by a group of BIPOC womxn, they provide programming that celebrates womxn in data, educates those interested in the field through events, mentorship, and data product co-creation. They encourage the diversification of the talent pipeline for data science and other data careers.
Since the start of 2020, through its global She’s Next Grant Program, Visa has awarded over $1.5 million dollars in grants and coaching memberships to women across the globe. In Canada, Visa furthers its commitment by way of its extended Canadian grant program, and with initiatives like the Visa Canada Small Business Hub which has programs and solutions to support small businesses in driving efficiency and sales through the acceptance of digital payments and the expansion of businesses online.

i Canadian Federation of Independent Business: Small Business Debt: The COVID-19 Impact

About Visa
Visa Inc. (NYSE: V) is a world leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network – enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. Our relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit visa.ca, visa.com/blog and @VisaCA.

SOURCE Visa Canada

CONTACT: Jessica Culp, Visa Canada, jculp@visa.com

LONDON and HONG KONG, — SC Ventures, the innovation and ventures unit of Standard Chartered, and BC Technology Group (BC Group), Asia’s leading digital asset company and parent of Hong Kong Securities and Futures Commission (SFC)-licensed digital-asset platform OSL, today announced they have partnered to establish a digital asset brokerage and exchange platform for institutional and corporate clients in the UK and Europe.

BC Group Chief Information Officer Usman Ahmad will be CEO of the new company, and Nick Philpott of SC Ventures will be COO.

The joint venture will be underpinned by BC Group’s leading OSL digital-asset technology and Standard Chartered’s global network and experience in brokerage and providing access to European markets.

Based in the UK, and initially targeting the European market, the company will connect institutional traders to counterparties across markets, delivering access to deep pools of liquidity in Bitcoin, Ethereum and other digital assets. The JV aims to launch in the fourth quarter of 2021, subject to regulatory approvals.

Wayne Trench, CEO of BC Group’s OSL digital asset business, said: “We’re thrilled to enter into this partnership to make secure and compliant digital asset trading more accessible to institutional investors in Europe. Standard Chartered and SC Ventures are known globally as leaders in fintech innovation and banking, and the partnership fits with our geographical expansion and growth strategy as it allows OSL to rapidly enter the European market with a leading partner.”

Alex Manson of SC Ventures said: “We have a strong conviction that digital assets are here to stay and will be adopted by the institutional market as a highly relevant asset class. We are constructing the building blocks for a safe and reliable investment infrastructure: on the back of Zodia Custody, which will ensure safe and compliant custody for institutional investors, the new company will provide a brokerage and exchange platform to enable safe adoption and trading by the world’s largest and most demanding investors.”

Usman Ahmad, incoming CEO of the new JV, said: “With total market capitalisation of digital assets over USD1 trillion, collaboration between market-leading firms is imperative to the continued development of robust global institutional digital asset infrastructure. The JV will aid in maturing the digital asset ecosystem by combining OSL’s expertise in regulatory compliant, secure institutional digital asset trading with SC Ventures’ proven capability to develop future technology capabilities in banking and finance.”

Digital-asset trading has expanded significantly since 2017, with a total market capitalisation greater than USD1 trillion in early June 2021[1]. The total value of trading volume on major digital-asset exchanges averages over USD4 billion per day[2]. This growth has drawn the attention of institutional customers, many of whom are now looking to access the asset class for the first time.

The JV further cements Standard Chartered and BC Group as leaders in the development of global digital-asset infrastructure. In December 2020, SC Ventures announced a strategic partnership with Northern Trust to launch Zodia Custody[3], an institutional-grade custody solution for digital assets. Zodia is designed to enable institutions to invest in digital assets that are transforming how financial markets operate, including transaction and settlement. In addition, Standard Chartered has invested in core blockchain technology provider Metaco and is collaborating with the Bank of Thailand and the Hong Kong Monetary Authority to explore distributed ledger interoperability for cross-border fund transfers.

BC Group is the parent company of OSL, Asia’s leading digital asset platform, which in December 2020 was the first firm to receive a Type 1 (dealing in securities) and 7 (automated trading service), from the Hong Kong Securities and Futures Commission (SFC). It is now the world’s first SFC-licensed, listed, digital asset wallet-insured, Big-4 audited digital asset trading platform for institutions and professional investors.

OSL offers customers secure and compliant trading access to Bitcoin, Ethereum and other high-quality digital assets, along with select security token offerings (STOs). Its SFC-licensed subsidiary, OSL Digital Securities, made history in March when it executed Hong Kong’s first-ever licensed digital-asset trades.

[1] Data from CoinMarketCap.com as of 1 June 2021

[2] Data from CoinMarketCap.com as of 1 June 2021: https://coinmarketcap.com/rankings/exchanges/

[3] Pending registration approval from the UK Financial Conduct Authority (FCA)

Standard Chartered

We are a leading international banking group, with a presence in 59 of the world’s most dynamic markets and serving clients in a further 85. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.

Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges.

For more stories and expert opinions please visit Insights at sc.com. Follow Standard Chartered on Twitter, LinkedIn and Facebook.

BC Technology Group and OSL

BC Technology Group (stock code: HK 863) is Asia’s leading public fintech and digital asset company. It is the parent company of OSL, the region’s most comprehensive licensed digital asset platform.

OSL is the world’s first and only insured and SFC-licensed digital asset platform, providing brokerage, custody, exchange and SaaS services for institutional clients and professional investors. The company offers OTC, iRFQ and electronic trading services giving traders access to the world’s deepest liquidity pools, as well as secure and insured wallets to ensure the safekeeping of digital assets with timely transaction settlement.

BC Group and the OSL platform are enabling institutional adoption of the digital asset class, setting standards for performance, security and compliance.

For more information: bc.group and osl.com.

For further information please contact:

Julie Gibson
Group Media Relations
Standard Chartered
+44 (0) 20 7885 2434
Julie.Gibson@sc.com

Josephine Wong
Group Media Relations
Standard Chartered
+65 6981 1514

DALLAS, May 26, 2021 /PRNewswire/ — The past year has created a dramatic shift in consumer behavior that has forever changed the retail environment to be more digital and customer-centric. MoneyGram, a global leader in the evolution of digital P2P payments, today announced the results of its first-ever MoneyGram Data Index1 – a national poll focused on how consumer behavior and expectations toward companies have evolved since the start of the COVID-19 pandemic. The data shows that everything from how consumers spend and send money to how they interact with brands has changed in this new normal. The following trends highlight the importance for direct-to-consumer brands and financial services firms to adapt their strategies to emerge from the pandemic even stronger.

The MoneyGram Data Index reveals that convenience is the key driver of value and main reason consumers would be willing to pay more for a product or service, and the shift to digital is accelerating with more than half of consumers saying they have bought more products and services digitally in the last year. When it comes to how financial situations have changed, the findings also tap into the stark inequalities between high-earners and low-earners – especially in the immigrant community. Situations between women and men also differ with fewer women reporting they now have more money.

Lastly, the influence of social media – particularly through family and friends online – outweighs social or political feelings. The data highlights the influence of social media with one in five consumers saying they bought a product or service in the last year because a friend or family member – rather than an influencer – recommended it on social media. However, despite enflamed political commentary over the past year, few consumers say they decided to stop using a product or service because a company took an opposing political position.

“The COVID-19 pandemic has truly accelerated a shift in consumer behavior, and we expect these trends to be permanent as consumers of all ages value digital-first convenience from brands,” said Alex Holmes, MoneyGram Chairman and CEO. “In an age where companies have entered the political debate more than ever before, the importance of family and friends remains paramount – especially within the immigrant community who report that they continue to send more money to support living expenses of those abroad. As MoneyGram continues to build upon the momentum in our direct-to-consumer channel, our focus on consumer insights will ensure our company continues to thrive in this new, forever changed retail environment.”

The MoneyGram Data Index: By the Numbers

Surge in sending money during the pandemic: 77% of American consumers say they sent or received money from someone in the last year. Numbers are similarly high for immigrants living in the U.S., with 75% saying they sent or received money from someone in the last year. The main motivators for American consumers to send money include that it is more convenient (24%), that it has been harder to visit in person (22%), and that they have owed more money to people (22%). Amongst immigrants living in the U.S., the main reasons are to help family/friends both in the country and abroad with living expenses.

Shift to Digital is Accelerating with Apps Leading the Way: The move to digital has been enormous in the last year, including amongst older consumers, and when it comes to sending money, more people are using apps.

More than half (53%) of consumers say they have bought more products/services digitally in the last year. This percentage holds steady with immigrants living in the U.S., 53% of whom say they have bought more products/services digitally in the last year.
Since the start of the pandemic, three out of four consumers (77%) say they bought a product/service digitally – using a website or mobile app.
More than one in three consumers (35%) say they have bought products/services online that they used to buy in person more than 6 times in the last year.
43% of consumers over the age of 65 say they have used digital more to buy products/services since the start of the pandemic.
Convenience and delivery are two of the main benefits of digital and the main reasons American consumers would be willing to pay more for a product or service. 54% say they would pay more for a product/service that is convenient, and 53% say they would pay more for something that is delivered to their door.
When it comes to sending money, more people are using apps. Amongst immigrants living in the U.S., the top reason they say they send more of their money transfers digitally is speed (47%), followed by ease of use (41%), and not needing to leave the house (30%).
Stark Inequalities of COVID-19: When it comes to how financial situations have changed since the start of the pandemic, high-earners and low-earners have had completely different experiences – especially in the immigrant community. Situations between women and men also differ with fewer women reporting they now have more money.

Asked whether they feel they have more or less money than before the pandemic, only one in four (24%) low-earners say they now have more, while 36% say they now have less.
On the other hand, almost one in two (47%) high-earners say they are better off financially since the start of the pandemic, while only 14% say they now have less money.
Immigrants living in the U.S. show similar trends. 22% of immigrants who are low-earners say they now have more money, while 43% say they now have less. On the other hand, 46% of immigrants who are high-earners say they now have more, while only 16% say they now have less.
When it comes to gender, there is also a divide. Almost four in ten men (38%) feel they have more money now, but for women, this number is closer to one in four (27%).
Overall, for Americans, one-third of consumers (32%) say they now have more money, 24% say they have less, and 39% say they now have about the same amount as before.
Social Media Outweighs Social or Political Feelings: When it comes to where American consumers choose to spend their money, social media influence outweighs social or political feelings. Surprisingly, when looking at who has the most impact online, family and friends trump influencers.

More consumers say they were swayed by family or friends on social media than by influencers. One in five consumers (21%) say they bought a product/service in the last year because a family member or friend recommended it on social media, while only 11% say they bought a product/service because an influencer promoted it on social media.
Despite enflamed political commentary over the past year, including numerous calls to boycott companies for a variety of political or social positions, only 14% of consumers say they decided to stop using a product/service because a company took an opposing political position.
Though ESG is not a top factor in making purchasing decisions, out of the three components, the ‘S’ is most important to consumers. When asked to choose between environmental, social and governance priorities for businesses to put first, 35% of Americans chose social priorities, while 24% chose environmental priorities. Only 12% opted for governance priorities, while 28% said they do not know.
1Survey Methodology
MoneyGram partnered with Kekst CNC to field the MoneyGram Data Index nationally. This poll was conducted between April 12-30, 2021, among a national sample of 2,000 adults based in the U.S., plus 1,000 adults based in the U.S. who are immigrants from other countries around the world. The interviews were conducted online, and the data was weighted to approximate a target sample of adults based on age, race/ethnicity, gender, educational attainment, region and country of origin. Results from the full survey have a margin of error of plus or minus 2.2 percentage points.

About MoneyGram International, Inc.
MoneyGram is leading the evolution of digital P2P payments. With a purpose-driven strategy to mobilize the movement of money, a strong culture of fintech innovation, and leading customer-centric capabilities, MoneyGram has grown to serve nearly 150 million people across the globe over the last five years.

The Company leverages its modern, mobile, and API-driven platform and collaborates with the world’s leading brands to serve consumers through MoneyGram Online (MGO), its direct-to-consumer digital business, its global retail network and its emerging embedded finance business for enterprise customers, MoneyGram as a Service.

For more information, please visit ir.moneygram.com and follow @MoneyGram.

Media Contact
Stephen Reiff
media@moneygram.com

SOURCE MoneyGram

Related Links
www.moneygram.com

DALLAS and SEATTLE, May 12, 2021 — MoneyGram International, Inc. (NASDAQ: MGI), a global leader in cross-border P2P payments and money transfers, and Coinme Inc., the largest licensed cryptocurrency cash exchange in the U.S., today announced the launch of a new partnership to enable the cash funding and payout of digital currency purchases and sales. The partnership, which utilizes MoneyGram’s modern, mobile and API-driven payments platform and Coinme’s proprietary cryptocurrency exchange and custody technology, will bring bitcoin to thousands of new point-of-sale locations in the U.S., with plans to expand to select international markets in the second half of 2021.

“This innovative partnership opens our business to an entirely new customer segment as we are the first to pioneer a crypto-to-cash model by building a bridge with Coinme to connect bitcoin to local fiat currency,” said Alex Holmes, MoneyGram Chairman and CEO. “Our unique, global network is an incredibly valuable asset, and we’re excited to open our platform to Coinme as we increasingly look to capture new growth by monetizing our network to new use-cases.”

Global cash on and off-ramps ensure access to bitcoin
The MoneyGram and Coinme integration will provide a fast and easy way for customers to purchase bitcoin with cash and withdraw bitcoin holdings in cash. It is specially designed for customers who may be interested in utilizing bitcoin for the first time. With less than 20,000 cryptocurrency kiosks in the world today, the MoneyGram and Coinme partnership will further expand access to bitcoin and potentially other digital currencies by creating thousands of new point-of-sale locations to buy and sell cryptocurrency.

“MoneyGram has spent more than 80 years building one of the world’s largest P2P payment networks,” said Neil Bergquist, Coinme CEO. “By integrating its global infrastructure with our licensed crypto exchange technology, we can enable the purchase and sale of cryptocurrencies across its system using cash. This is a major milestone for the bitcoin and cryptocurrency communities, and for the millions of people who will benefit from a trusted, easy and affordable onramp to digital currency.”

The service will be available at select MoneyGram locations starting in the U.S. in the coming weeks. Additional countries and cryptocurrencies will be made available shortly thereafter. To learn more, visit www.coinme.com/moneygram.

About MoneyGram International, Inc.
MoneyGram is leading the evolution of digital P2P payments. With a purpose-driven strategy to mobilize the movement of money, a strong culture of fintech innovation, and leading customer-centric capabilities, MoneyGram has grown to serve nearly 150 million people across the globe over the last five years.

The Company leverages its modern, mobile, and API-driven platform and collaborates with the world’s leading brands to serve consumers through MoneyGram Online (MGO), its direct-to-consumer digital business, its global retail network and its emerging embedded finance business for enterprise customers, MoneyGram as a Service.

For more information, please visit ir.moneygram.com and follow @MoneyGram.

About Coinme Inc.
Coinme operates the largest licensed cryptocurrency cash exchange in the U.S. Founded in 2014 with the simple belief that buying digital currencies should be easy and accessible to everyone, today Coinme powers over 20,000 physical locations to buy and sell bitcoin using cash through partnerships with Coinstar and MoneyGram. The company offers an enterprise-grade API that helps “crypto-enable” legacy financial systems, and a vertically integrated suite of consumer products that provide an easy and secure way to buy, sell, store and manage digital currencies. For more information, visit www.coinme.com.

MoneyGram Media Contact
Stephen Reiff
media@moneygram.com

Coinme Media Contact
Delia Mendoza
delia.mendoza@coinme.com

SOURCE MoneyGram

Related Links
www.moneygram.com

PALO ALTO, Calif., April 29, 2021 /PRNewswire/ — Marking a significant step in the roadmap for quantum advantage for financial applications, Goldman Sachs and QC Ware researchers have designed new, robust quantum algorithms that outperform state-of-the-art classical algorithms for Monte Carlo simulations and can be used on near-term quantum hardware expected to be available in 5 to 10 years.

Monte Carlo Algorithms Comparative Chart
Monte Carlo methods, used to evaluate risk and simulate prices for a variety of financial instruments, involve complex calculations and consume significant time and computational resources. Typically, these calculations are executed once overnight, which means that in volatile markets, traders are forced to use outdated results. Providing traders, who are always looking for an additional edge in the markets, with a quantum computing approach to perform these risk assessments with far greater speed means that simulations could be executed throughout the day and could transform the way financial markets worldwide operate.

“Our team at Goldman Sachs is focused on developing the best technology for the firm and our clients,” said William Zeng, Head of Quantum Research, Goldman Sachs. “Quantum computing could have a significant impact on financial services, and our new work with QC Ware brings that future closer. To do this, we introduced new extensions to a core technique in quantum algorithms. This exemplifies the fundamental contributions that our group looks to make in the field of quantum technology.”

The research community has known for some time of quantum algorithms that can perform Monte Carlo simulations 1000x faster than classical methods. However, these algorithms require error-corrected quantum hardware projected to be available in 10 to 20 years. Current quantum devices have very high error rates and can only perform a few calculation steps accurately before returning incorrect results.

For the past year, Goldman Sachs and QC Ware researchers have been working to answer this question: “How can we cut the current timeline in half yet still get a significant speed-up?” By successfully sacrificing some of the speed up from 1000x to 100x, the team was able to produce Shallow Monte Carlo algorithms that can run on near-term quantum computers expected to be available in 5 to 10 years. Technical details of the new algorithms are outlined in a recently released research paper.

Reducing the Quantum Hardware Timeline for Monte Carlo Simulations
The graph below illustrates how Shallow Monte Carlo algorithms compare with previous Monte Carlo algorithms across two dimensions:

the speed-up provided by the quantum algorithms when compared to classical approaches, and
the expected timeline for quantum hardware capable of executing the algorithms
The graph also shows the comparative position of two often cited quantum algorithms and their use cases, prime factoring and the variational quantum eigensolver (VQE) algorithms. While the Shallow Monte Carlo algorithms show more moderate speed-ups than Quantum Fourier Transformation Free Monte Carlo (QFT-free Monte Carlo) and Standard Monte Carlo algorithms, they have far less onerous hardware requirements, and therefore are anticipated to reduce the timeline to usability in half.

“At QC Ware, we focus on designing useful quantum algorithms that significantly reduce quantum hardware requirements yet achieve provable performance speed-ups over classical algorithms,” said Iordanis Kerenidis, Head of Algorithms – International, QC Ware. “The Goldman Sachs and QC Ware research teams took a novel approach to designing quantum Monte Carlo algorithms by trading off performance speed-up for reduced error rates. Through rigorous analysis and empirical simulations, we demonstrated that our Shallow Monte Carlo algorithms could result in the ability to perform Monte Carlo simulations on quantum hardware that may be available in 5 to 10 years.”

About Goldman Sachs
The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.

About QC Ware
QC Ware is a leading quantum-as-a-service company focused on the development of applications for near-term quantum computing hardware. With a team composed of some of the industry’s foremost experts in quantum computing, QC Ware is growing rapidly and generating substantial revenue from global enterprise and government sector customers including Aisin Group, Airbus, BMW Group, Equinor, Goldman Sachs, and Total. QC Ware Forge, the company’s flagship quantum computing cloud service, is built for data scientists with no quantum computing background. It provides unique, performant, turnkey implementations of quantum computing algorithms. QC Ware is headquartered in Palo Alto, California and supports its European customers through its subsidiary in Paris. QC Ware also organizes Q2B, the largest annual gathering of the international quantum computing community.

Media contact

qc_ware@sparkpr.com

OKYO, April 7, 2021 /PRNewswire/ — MoneyGram International, Inc, a global leader in cross-border P2P payments and money transfers, today announced a three-year extension to its partnership with SBI Remit Co., Ltd., one of the Company’s key partners in Japan. For over a decade, MoneyGram and SBI Remit have delivered innovative and affordable money transfer services to meet the evolving needs of their combined customer base through both digital and walk-in channels. As MoneyGram continues its expansion across the Asia-Pacific, this extension marks a key milestone for MoneyGram in the region.

“We are excited to extend our partnership with SBI Remit for three more years as we continue to expand across the Asia-Pacific and enable more customers to send and receive money to and from family and friends around the world,” said Grant Lines, MoneyGram Global Chief Revenue Officer. “Through strategic partnerships with companies like SBI Remit, we continue to focus on customer experience initiatives as well as enhancing options to meet the evolving needs of consumers.”

“MoneyGram became our first international remittance partner in November of 2010, and we are extremely excited about a renewed relationship with our trusted brand partner,” said Nobuo Ando, Representative Director of SBI Remit. “At SBI Remit, we have extended options for customers to deposit cash on to their Remit cards. Through services like this, we will continue to offer customers in Japan more convenience sending money back home through MoneyGram.”

To celebrate this milestone, MoneyGram and SBI Remit will launch a special promotion for customers. SBI Remit customers who transact through MoneyGram before March 31, 2022, will have a chance to win a cash prize from a total prize pool of JPY1,200,000. There will be 10 winners per month, and each winner will receive JPY10,000.1

To use MoneyGram service with SBI Remit, senders can register on the SBI Remit website at www.remit.co.jp. Senders can then deposit funds into their SBI Remit deposit accounts at Mizuho Bank, Sumitomo Mitsui Bank and Resona Bank. Deposits can also be made through SBI Remit cards at Japan Post Bank ATMs or Lawson Bank ATMs or can also be made through cash from FamiPort at any Family Mart location throughout Japan.

About MoneyGram International, Inc.
MoneyGram is leading the evolution of digital P2P payments. With a purpose-driven strategy to mobilize the movement of money, a strong culture of fintech innovation, and leading customer-centric capabilities, MoneyGram has grown to serve nearly 150 million people across the globe over the last five years.

The Company leverages its modern, mobile, and API-driven platform and collaborates with the world’s leading brands to serve consumers through MoneyGram Online (MGO), its direct-to-consumer digital business, its global retail network and its emerging embedded finance business for enterprise customers, MoneyGram as a Service.

For more information, please visit ir.moneygram.com and follow @MoneyGram

Media Contact
media@moneygram.com

WARREN, Pa. and VALHALLA, N.Y., April 1, 2021 /PRNewswire/ — Northwest Bank, a subsidiary of Northwest Bancshares, Inc. (NASDAQ: NWBI), today announced that it has entered into a definitive agreement to sell its insurance business offered through Northwest Insurance Services to USI Insurance Services (“USI”).

Northwest Insurance Services is a wholly-owned subsidiary of Northwest Bank, offering property and casualty, life, disability and long-term care insurance, as well as group health, life and disability employee benefits.

USI is one of the largest insurance brokerage and consulting firms in the world, delivering property and casualty, employee benefits, personal risk, program and retirement solutions to large risk management clients, middle market companies, smaller firms and individuals. USI connects over 8,000 industry-leading professionals from approximately 200 offices to serve clients’ local, national and international needs.

Commenting on the announcement, Northwest Bank’s President and CEO, Ron Seiffert stated: “We are very pleased to have reached a definitive agreement with USI. USI is a well-managed, national provider who combines industry-leading capabilities delivered through longstanding, passionate and committed local service teams. We share very similar experience philosophies and see this as an exciting partnership for our insurance associates and clients.”

USI’s Chairman and CEO, Michael J. Sicard added: “We look forward to welcoming the talented professionals from Northwest Insurance Services to the USI family. By partnering together as ONE, we look forward to expanding our expertise throughout western Pennsylvania and western New York through the USI ONE Advantage®, an interactive knowledge platform that integrates proprietary analytics, networked resources and enterprise planning to deliver truly customized solutions with material financial impact to clients.”

Subject to customary closing conditions, the transaction is expected to close early in the second quarter of 2021.

Keefe, Bruyette & Woods, A Stifel Company issued a fairness opinion to Northwest Bank in the transaction, and Luse Gorman, PC, Washington, DC, served as legal counsel to Northwest Bank in the transaction.

About Northwest Bancshares, Inc.

Headquartered in Warren, Pennsylvania, Northwest Bancshares, Inc. is the holding company of Northwest Bank. Founded in 1896, Northwest Bank is a full-service financial institution offering a complete line of business and personal banking products, employee benefits and wealth management services, as well as the fulfillment of business and personal insurance needs. Northwest operates 162 full-service community banking offices and eight free standing drive-thru facilities in Pennsylvania, New York, Ohio and Indiana. Northwest Bancshares, Inc.’s common stock is listed on the NASDAQ Global Select Market (“NWBI”). Additional information regarding Northwest Bancshares, Inc. and Northwest Bank can be accessed online at www.northwest.com.

About USI
USI is one of the largest insurance brokerage and consulting firms in the world, delivering property and casualty, employee benefits, personal risk, program and retirement solutions to large risk management clients, middle market companies, smaller firms and individuals. Headquartered in Valhalla, New York, USI connects over 8,000 industry-leading professionals from approximately 200 offices to serve clients’ local, national and international needs. USI has become a premier insurance brokerage and consulting firm by leveraging the USI ONE Advantage®, an interactive platform that integrates proprietary and innovative client solutions, networked local resources and enterprise-wide collaboration to deliver customized results with positive, bottom line impact. USI attracts best-in-class industry talent with a long history of deep and continuing investment in our local communities. For more information, visit www.usi.com or follow us on LinkedIn, Facebook or Twitter.

PALO ALTO, Calif., March 3, 2021  — Next Insurance, the leading digital insurtech company transforming small business insurance, has signed a definitive agreement to acquire AP Intego, a digital insurance agency providing a suite of small commercial insurance products to some of the largest small business software ecosystems in the U.S., including Intuit, Gusto, Square and Toast. AP Intego’s platform provides an embedded insurance offering alongside its partners’ core products. With a foundation built around many of the leading payroll software providers, AP Intego delivers a digital buying experience for pay-as-you-go workers’ compensation insurance to tens of thousands of small businesses. Next Insurance and AP Integowill help streamline how small businesses shop for, purchase and pay for products that help insure their livelihoods, their employees and their assets.

“At Next Insurance, we’re modernizing a centuries-old industry to better provide small business owners  with convenience, value and choice,” said Guy Goldstein, CEO and co-founder of Next Insurance. “We’re excited to welcome the AP Intego team to Next Insurance. This acquisition marks an industry-defining  milestone in our efforts to build a market-leading one-stop-shop for small business insurance. The combination of AP Intego’s experience in insurance product distribution through partners and pay-as-you-go infrastructure combined with our approach to digital customized coverage, will provide more customers with seamless access to innovative insurance products.”

The insurance industry has been traditionally slow to innovate and for decades small businesses have remained an underserved and fragmented market, proving there is a need for a modern, digital-first insurance provider that better supports their needs. Next Insurance will offer its products on AP Intego’s platform alongside an established stable of carrier relationships. Next Insurance will provide AP Intego’s partners and customers with additional coverage, pricing options and a streamlined insurance experience. Together, through AI-driven pricing, instant purchasing capabilities and always-on, pay-as-you-go service that automatically adapts to a business as it changes, Next Insurance and AP Intego will offer a modern upgrade to small business insurance.

“As an integration partner with Next Insurance and AP Intego, we appreciate the great value they bring to our small business customers,” said Olivier Bartholot, Director Product Management Online Payroll at Intuit. “Next Insurance and AP Intego have created solutions that cater to the needs of small business owners and by teaming up, they will further our strategy of delivering Intuit customers an innovative insurance buying experience, offering more choice and flexibility, within the Quickbooks platform.”

“We built Gusto’s people platform to simplify the complexities of running a business by helping them to pay, insure, onboard, and support their teams. One of the most complex and difficult tasks of running a business is identifying and setting up all the types of insurance that are needed to operate,” said Tomer London, Gusto Chief Product Officer and co-founder. “AP Intego has been a fantastic partner for providing commercial insurance to Gusto’s customers, and by combining with Next Insurance, we’ll be able to deliver more choice to businesses so it’s even easier to find and implement the right solutions based on their needs.”

Next Insurance experienced record growth in 2020 further solidifying the company as the insurtech leader for small businesses. The company raised $500 million in venture capital over the last 16 months and acquired Juniper Labs in December, making AP Intego its first insurance distribution acquisition. The acquisition of AP Intego brings Next Insurance’s small business customers to over 200,000.

“This is a powerful combination and we are excited to become part of the Next Insurance team—a perfect match that accelerates our market leading embedded insurance offering through small business software providers,” said Steven Hauck, Co-Managing Director at AP Intego. “Adding Next Insurance to our platform enhances the overall value proposition we are delivering our partners and their customers and allows us to truly innovate within small business insurance. In order to keep up with our partners’ insatiable appetite for a superb customer experience, Next Insurance provides us digital product  flexibility for the benefit of both our partners and their customers. We’re thrilled about this new chapter in our history.”

AP Intego employs 160 people in and around Waltham, Massachusetts, Rochester, NY and other parts of the U.S., bringing Next Insurance’s headcount to nearly 600 team members across four major offices. As part of the agreement, AP Intego will retain its partnerships with leading US small business insurance carriers and its focus will remain on delivering choice, the right coverage and competitive pricing to its partners and their small business customers. The close of the transaction is subject to customary closing conditions.

About Next Insurance:
Next Insurance is transforming small business insurance with simple, digital and affordable coverage tailored to the self-employed. Next Insurance offers policies that are easy to buy in 10 minutes or less and provides 24/7 access to live certificates of insurance, additional insured, and more, with no extra fees. Revolutionizing a historically complicated insurance industry, Next Insurance utilizes AI and machine learning to simplify the purchasing process and drive down costs by up to 30% compared to traditional policies. Founded in 2016, the company is headquartered in Palo Alto, has received a total of $631 million in venture capital funding and has been recognized by Forbes Fintech 50, JMP Securities InsurTech 50 and Forbes Best StartUp Employers. For more information visit NextInsurance.com. Stay up to date on the latest with Next Insurance on Twitter, LinkedIn, Facebook and our blog.

About AP Intego
AP Intego is a leading digital insurance agency and one of the nation’s fastest growing insurtech companies. Through its platform, AP Intego offers a full line of best-fit, best-price property and casualty insurance to the small business customers of hundreds of tech, payroll and other affinity partners. In addition, the company provides award-winning customer service, flexible billing and a self-service, online customer dashboard to its more than 75,000 active customers. AP Intego places over $200M in premium with more than a dozen A-rated insurance carriers to provide choice to its customers and is licensed in 50 states. Please visit us at www.apintego.com.

New Voices Foundation and JPMorgan Chase’s Advancing Black Pathways initiative are developing and hosting the New Voices Banking Bootcamp – a business banking educational program. rnrnSlated to start later this month, the bootcamp is designed to help women of color entrepreneurs establish strong business banking relationships and expand their access to capital, which is critical to business growth and success. Small businesses that are led by women of color entrepreneurs, for example, are often unable to access both private and public funding opportunities due to weak banking relationships and other factors.rnrnThe New Voices Banking Bootcamp seeks to help fill this gap by providing business banking and finance education, as well as a $10,000 award upon completion of the bootcamp.rnrnFrom Monday, November 30 through December 18, the New Voices Banking Bootcamp will conduct three intensive program sessions to engage 15 participants in workshops to help them:rnrnMaster their business finances and understand banking/capital models and risk analyses.rnBuild and maintain strong relationships with banks and other key financial institutions.rnBetter position their companies to secure capital to grow and scale in the future.rnApplications for the bootcamp are open through Nov. 22.rnrnThe program design was shaped by a May 2020 survey of nearly 1,200 women of color entrepreneurs conducted by the New Voices Foundation. During the survey, the respondents shared how their businesses were negatively impacted by the COVID-19 pandemic and details on their banking relationships. rnrn”The [survey] data reinforces what we already knew,” said Richelyna Hall, New Voices Foundation’s Chief Impact Officer. “The importance of capital to small businesses’ ability to grow and thrive cannot be overstated. Access to capital continues to be out of reach for women of color entrepreneurs with investors both less likely to be exposed to these entrepreneurs and less willing to diversify their applicant pools. Moreover, research has shown that most investors have different standards for women of color when evaluating their funding eligibility. New Voices is committed to helping women-of-color-led businesses learn and implement banking and financial best practices, and the New Voices Banking Bootcamp will jump start the process for participants.”rnrnNew Voices Foundation and JPMorgan Chase’s Advancing Black Pathways are keenly aware that the existence, quality and/or depth of an entrepreneur’s relationships with lending institutions significantly impacts their chances of business loan approval.rnrnAccording to the New Voices Foundation May 2020 survey— almost three-fourths (72.86%) of the respondents said they have either a weak relationship, very weak relationship, or no relationship with any type of lending institution. A recent Federal Reserve Bank of New York report 1 substantiated the finding that Black entrepreneurs entered the COVID-19 pandemic at an alarming disadvantage:rnrn”We find that Black employer firms were less likely to enter the pandemic from a strong financial position than white-owned firms, with smaller shares of Black firms operating at a profit, having a high credit score, and using retained business earnings to fund the business. [Forty-two percent] met at least two of these criteria, compared to 73% of white employers.”rnrnNew Voices Foundation and JPMorgan Chase’s Advancing Black Pathways are equally committed to changing the narrative for women minority-owned business owners.rnrn“We are committed to building and advancing an inclusive banking system, and as part of this effort, we are intentionally focused on helping Black and Latinx entrepreneurs get access to the capital, tools and insights that they’ll need to grow and scale their businesses,” said Brian Lamb, JPMorgan Chase’s Global Head of Diversity & Inclusion. “This collaboration with the New Voices Foundation aligns with our efforts to invest in Black and Latinx job creators, and put them on a pathway to sustained success.”rnrnThe New Voices Banking Bootcamp is designed in accordance with both New Voices Foundation and Advancing Black Pathways’ common goals of empowering Black entrepreneurs and helping them to forge brighter and more sustainable futures.rnrnAbout New Voices FoundationrnrnNew Voices Foundation is a ground-breaking, community-building effort designed to create a more inclusive entrepreneurial ecosystem for women of color. The Foundation empowers these entrepreneurs to achieve business success through leadership and skills development, access to capital, and networking opportunities, as well as other innovative leadership initiatives – at no cost to the entrepreneurs. Driven by its PACE (Purpose, Access Capital, Expertise) model, the New Voices Foundation invests in diverse programming –including entrepreneurial summits, accelerators, pitch competitions, coaching, master classes, and more –to advance the significant contributions of women of color entrepreneurs to our economy and society.rnrnAbout JPMorgan ChasernrnJPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services Firm with assets of $3.2 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of customers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands.

Bank of America today announced that the Chief Investment Office (CIO) has introduced initiatives to promote the representation of women and people of color among asset managers on its wealth management platform and across the industry. Multiple studies reflect the potential for strong investment results by diverse teams.1 In light of this, the CIO is now incorporating diversity analysis into the review and selection of all existing and new asset managers who are available to Merrill and Bank of America Private Bank clients.

In the first quarter of this year, the CIO Due Diligence team enhanced its investment process to evaluate all asset managers’ policies and practices on diversity and inclusion at both their organizational and investment team levels. Going forward, this analysis will be used in the CIO team’s overall investment assessments and factor into their level of conviction in investment strategies.
In addition, this team will collaborate with asset managers and industry groups who are focused on developing investment solutions that serve to (1) aggregate and direct capital to diverse managers, and (2) provide capital to diverse-owned businesses and populations as part of their underlying investment mandates.

“We are deeply committed to advancing the social and economic benefits of greater diversity and inclusion,” said Keith Banks, head of the Investment Solutions Group at Bank of America. “We hope these important steps forward will further encourage the asset management industry to accelerate its support of diverse-owned firms, portfolio managers and investment solutions.”

A 2019 Knight Foundation analysis found that only 1.3% of industry assets were managed by diverse-owned asset management firms. In 2017, 1.1% of assets were managed by such firms, indicating little progress over two years. The study also “found no statistically significant difference in performance across asset classes,” even after controlling for risk. In fact, it found that “funds managed by diverse-owned firms were overrepresented in the top-performing quartile of mutual funds, hedge funds and private equity.” Efforts to increase diverse-owned firms and investment solutions have intensified as demand for them increases, particularly from high net worth clients, foundations, endowments and other institutional investors.

“Multiple studies link diverse and inclusive organizations to stronger organizational performance,” said Anna Snider, head of due diligence for Merrill and Bank of America Private Bank. “We recognized the need to embed a diversity and inclusion assessment into the core of our due diligence process. We believe that this, along with other environmental, social and governance (ESG) considerations, can and should inform investment conviction and play an increasingly important role in our selection of managers and strategies going forward.”

In addition to these efforts, the CIO will actively participate in several industry initiatives, which include sponsoring the:

2020 Global GenderSmart Investing Summit, a global initiative dedicated to unlocking capital at scale, with a focus on gender equality, the climate crisis, education, health and human rights.
NICSA Diversity Project, which is designed to share research and best practices for building a more diverse roster of next-generation asset managers – breaking down traditional hurdles to success for women and people of other diverse backgrounds.

Bank of America and the Visa Foundation are sponsoring Project Sage 3.0. The project, conducted by the Wharton Social Impact Initiative of the University of Pennsylvania’s Wharton School and Catalyst at Large, is the group’s third study of women-led, gender- and diversity-focused fund mandates. Based on an annual survey, the study is designed to respond to increased interest in understanding the characteristics of available private equity and debt solutions, including size, scope, stage and geography, as well as focus on diversity in investment selection.

Today, nearly 20,000 Merrill and Bank of America Private Bank wealth advisors serve clients representing approximately $2.9 trillion in client balances.2

Bank of America commitment to advancing racial equality and economic opportunity

Bank of America recently announced a $1 billion, four-year initiative to help advance racial equality and economic opportunity, with a particular focus on helping to create opportunity for people and communities of color. The company is focusing on areas where systemic, long-term gaps exist and where significant change is required for progress to occur and to be sustainable, including health and health care, jobs/reskilling, and support to small business and affordable housing, all through a lens of racial equity.

1 Harvard Business Review, July/Aug. 2018 and Nov. 4, 2016

2 Source: Bank of America earnings report, Q2 2020

Bank of America
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 66 million consumer and small business clients with approximately 4,300 retail financial centers, including approximately 3,000 lending centers, 2,600 financial centers with a Consumer Investment Financial Solutions Advisor and approximately 2,200 business centers; approximately 16,900 ATMs; and award-winning digital banking with approximately 39 million active users, including approximately 30 million mobile users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

The Chief Investment Office, which provides investment strategies, due diligence, portfolio construction guidance and wealth management solutions for Global Wealth and Investment Management (GWIM) clients, is part of the Investment Solutions Group (ISG) of GWIM, a division of BofA Corp.

The economic fallout from the COVID-19 pandemic has been devastating for U.S. small businesses, with many experiencing dramatic declines in revenues and cash liquidity following the government-mandated closures that began in March. The effects of the economic downturn have been especially severe for Black-owned businesses— many of which entered this crisis undercapitalized.1

As a step towards helping black-owned businesses recover and move forward, a coalition of four business advocacy groups—the National Minority Supplier Development Council, US Black Chambers, National Urban League and Black Enterprise— have partnered with JPMorgan Chase to launch Advancing Black Entrepreneurs by Chase for Business. Together with Chase Business Banking, these organizations have developed an educational curriculum designed specifically for eligible black entrepreneurs on key topics that are vital to business growth and sustainability.

Experts from the four business advocacy groups will administer a series of 90-minute virtual sessions to participating entrepreneurs at no cost. The first session focuses on how business owners can address immediate financial needs and build resiliency in the age of coronavirus. Participating entrepreneurs will receive free instruction on a variety of topics— including how to protect cash flow, reduce expenses, maintain vendor relationships, collect outstanding revenues, and manage inventory and other assets.

“How businesses adapt, innovate and plan for the future will determine their future survival— and we’re committed to helping as many black entrepreneurs as we can navigate this path,” said Christopher Hollins, Managing Director of Chase Business Banking. “The businesses that will be best positioned to thrive after this crisis are those that have managed cash flows effectively, pivoted business models where necessary, and strengthened ties to their communities while keeping employees and customers safe.”

Black-owned businesses experienced a 26% decline in cash balances in March compared to the prior year,2 according to the JPMorgan Chase Institute, and could require more recovery assistance than others due to severe revenue shocks in recent months.

Participating entrepreneurs will also receive instruction on how to reimagine their businesses if necessary— with insights into how to build more flexibility into supply chains, develop an online presence, revisit staffing models, and a primer on accounting best practices for new grants or loans they may have recently received. In addition, the course will provide insights into how to manage banking relationships in this environment.

Here’s what the advocacy groups had to say about this initiative:

“Black entrepreneurs play a vital role in the economic health of black communities, and it is critical that we equip them with the necessary tools and insights at this time,” said Adrienne Trimble, President and CEO of the National Minority Supplier Development Council. “We’re looking forward to working with the coalition and Chase Business Banking to position black-owned businesses for success and prepare them for life after the crisis.”
“Although we’re certainly in a difficult economic environment, there are countless examples of businesses that are finding a way to move forward, and it’s important that we share these stories and provide a roadmap for black entrepreneurs,” said Ron Busby, the President and CEO of US Black Chambers. “Together with the coalition and Chase Business Banking, we will deliver timely, actionable content to an audience that needs it on a mass scale.”
“Black-owned businesses are a pillar of our communities, and we must be intentional about connecting them to crucial resources like the Advancing Black Entrepreneurs initiative in this time of crisis,” said Marc Morial, the President and CEO of the National Urban League. “If we don’t act now in a meaningful way, we’re facing a real risk of seeing the racial wealth gap accelerate at an even faster rate.”
“It is important that we connect black business owners to insights, mentorship and resources during this time of crisis to help them not just survive, but to position them for life beyond the crisis,” said Derek Dingle, Senior Vice President and Chief Content Officer at Black Enterprise. “Advancing Black Entrepreneurs is about helping black entrepreneurs create sustainable models for growth, and position them for continued job creation within the communities they serve.”

1.JPMorgan Chase Institute, “Small Businesses in Black and Hispanic Communities Have Lower Profitability and Cash Liquidity than Businesses in White Communities.” 9/30/2019
2.JPMorgan Chase Institute, “Small Business Financial Outcomes during the Onset of COVID-19.” 6/2020

About JPMorgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.6 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of customers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

Like most academic institutions around the country, Historically Black Colleges and Universities have been forced to cancel or postpone graduation ceremonies due to the COVID-19 outbreak. To celebrate the achievements of more than 27,000 students, Black leaders and 78 schools are joining forces virtually during the “Show Me Your Walk HBCU Edition” commencement event presented by Chase on May 16 at 2:00 pm ET.

President Barack Obama will share a special message during the event. Hosted by Kevin Hart, guest appearances for the 2-hour event will include Steve Harvey, Chase Consumer Banking CEO Thasunda Brown Duckett, Ariel Investments Co-CEO and President Mellody Hobson, National Urban League president, Marc Morial, and academic leaders from participating HBCUs. Other participants include 10-time NBA All-Star Chris Paul, 8-time NBA All-Star Vince Carter, Debbie Allen and Vivica Fox.

The virtual commencement will also include performances by Anthony Hamilton, Wyclef Jean, Omari Hardwick and other musical guests—as well as a drumline mash-up featuring Doug E. Fresh.

The 2-hour event will be live-streamed on Chase’s YouTube, Twitter, and LinkedIn channels, as well as HBCU Connect’s Facebook page and Essence Studios. More information is available on chase.com/hbcustudent, including a list of participating schools.

During the event, HBCUs will showcase and highlight past and current graduates, including Class of 2020 students from Howard University, Delaware State, Paul Quinn College, Florida Memorial College and Texas Southern Law Center.

“Every student graduating in the Class of 2020 deserves to celebrate this moment—they earned it, even more so during a challenging year for our country and the world.  We are showing up for them because we recognize they are our now and our future, and the way forward is full of opportunity,” said Duckett.

The idea for hosting a virtual commencement ceremony for HBCU students was conceived by Dr. Michael Sorrell, President of Paul Quinn College (PQC) and member of the ABP Advisory Council. Additional organizers for the event include Howard University, The National Association for Equal Opportunity in Higher Education (NAFEO), Thurgood Marshall College Fund (TMCF), United Negro College Fund (UNCF) and the National Basketball Association (NBA.) Essence is supporting the event as a livestreaming partner.

“As a result of COVID-19, our students have been robbed of a moment that they and their families have earned,” Sorrell said. “I am so grateful that this coalition of partners stepped up to answer the call of the HBCU community and stand in the gap for our students and their families.”

JPMorgan Chase is supporting “Show Me Your Walk HBCU Edition” through its Advancing Black Pathways (ABP) initiative, created to help black communities close historical achievement gaps in three key areas: wealth creation, educational outcomes and career success. Support for HBCUs is a core focus for JPMorgan Chase because of the vital role they continue to play in helping African Americans forge pathways to long-term success. The first HBCUs were founded before the Civil War, and these institutions educated generations of African Americans during a period when other colleges and universities would not.

Today, HBCUs produce 70% of African American doctors and dentists[1], 50% of black lawyers and 80% of black judges.[2] HBCU graduates can also expect work-life earnings of $130 billion—an additional $927,000 per graduate, 56 percent more than they could expect to earn without their HBCU degrees or certificates, according to UNCF.

“Historically Black Colleges and Universities remain a critical resource in educating our young people and putting them on a path to lasting and rewarding careers,” said Sekou Kaalund, the Head of ABP. “Here at JPMorgan Chase, we are firmly committed to supporting HBCUs and helping them continue a tradition of excellence that has helped generations of black people achieve academic and professional success.”