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Digital invoicing聽 <a href=https://www.stanley-cup.us>stanley website</a> firm Tungsten announced late last year that it would be divesting its bank, which it had acquired only months prior. Now, nearly a year later, the FinTech company has announced a buyer.Reports Wednesday Nov. 16 said Tungsten Bank will go to Wyelands Holdings after receiving clearance from U.K. officials. The companies said they expect to close the deal Dec. 21 of this year.Tungsten Bank was used to fuel the company supply chain financing provided to small and medium-sized businesses. But with the company strug <a href=https://www.stanleycup.pl>stanley polska</a> gling to grow at a pace suitable for its owners and investors, Tungsten decided to divest its banking operations. Its board of directors announced last December that operating a regulated deposit-taking banking license is incompatible with the pursuit of profitable growth.Last year, Tungsten said it had reached an agreement to sell the bank for $45 million but did not disclose the acquirer at the time. We have undertaken a thorough self-assessment <a href=https://www.stanley-cup.us>stanley usa</a> of all aspects of our business, which has given us great clarity on the strategic outcomes we desire and the paths we will take to achieve them, said Chief Executive Rick Hurwitz last year. These outcomes will improve our financial and operating performance, sharpen our focus on profitable business and increase our confidence in forecasting the timing of break-even and organic cash generation. With the bank now going to Wyelands, Tungsten said it will refocus its efforts on growing it
Temenos, the banking technology company, and Canadian Western Bank CWB 聽have built out Temenos Virtual COO, an Explainable AI-driven XAI 聽offering. Temenos has rolled out the offering throughout the world, according to a Tuesday June 1 announcement. Were innovating with Temenos to not only create something special, but to evolve with SME <small>to medium enterprise] owners along their growth journey. Its about understanding the human behind the busines <a href=https://www.stanley-germany.de>stanley de</a> s, Jeff Wright, senior vice president, Equipment, Digital Client Solutions, Canadi <a href=https://www.cup-stanley.fr>stanley mugs</a> an West <a href=https://www.cups-stanley-cups.ca>stanley cup canada</a> ern Bank, said in the announcement.Temenos Virtual COO has been developed on the Temenos Infinity digital banking system, and it harnesses Temenos Analytics聽in addition to its application programming interface API -first, cloud-native technology. It provides open banking-fueled information aggregation with live analysis for those who own small to medium-sized businesses SMBs to manage the expansion of their companies and allow for more intelligent funding in the end, according to the announcement.In other words, Temenos says in the announcement that it offers a virtual chief operating officer. We are delighted to announce the availability of the Temenos Virtual COO solution globally. With Temenos Virtual COO, financial institutions worldwide will be able to empower SMEs with intelligent business banking and drive growth with funding innovation, 聽Kam Chana, product innovation director, Temenos, said in the announcement.PYMNTS Fzkq Top News In Payments: Tougher Criteria For 2020 Business Loans; Wordline To Buy Ingenico
Digital invoicing聽 <a href=https://www.stanley-cup.us>stanley website</a> firm Tungsten announced late last year that it would be divesting its bank, which it had acquired only months prior. Now, nearly a year later, the FinTech company has announced a buyer.Reports Wednesday Nov. 16 said Tungsten Bank will go to Wyelands Holdings after receiving clearance from U.K. officials. The companies said they expect to close the deal Dec. 21 of this year.Tungsten Bank was used to fuel the company supply chain financing provided to small and medium-sized businesses. But with the company strug <a href=https://www.stanleycup.pl>stanley polska</a> gling to grow at a pace suitable for its owners and investors, Tungsten decided to divest its banking operations. Its board of directors announced last December that operating a regulated deposit-taking banking license is incompatible with the pursuit of profitable growth.Last year, Tungsten said it had reached an agreement to sell the bank for $45 million but did not disclose the acquirer at the time. We have undertaken a thorough self-assessment <a href=https://www.stanley-cup.us>stanley usa</a> of all aspects of our business, which has given us great clarity on the strategic outcomes we desire and the paths we will take to achieve them, said Chief Executive Rick Hurwitz last year. These outcomes will improve our financial and operating performance, sharpen our focus on profitable business and increase our confidence in forecasting the timing of break-even and organic cash generation. With the bank now going to Wyelands, Tungsten said it will refocus its efforts on growing it
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