Day: June 16, 2022

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nCino Announces the Winners of Its Annual Customer Awards Program

Texas Farm Credit, Great Southern Bank and Natixis CIB named recipients of Financial Services Impact Awards at nSight 2022
Nominations judged by leading global research and advisory firm Celent

WILMINGTON, N.C., June 16, 2022 (GLOBE NEWSWIRE) — nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced the winners of the nCino Financial Services Impact Awards, the company’s second-annual customer awards program. This year’s nominations were judged by a team of analysts at Celent, a member of the Oliver Wyman Group and the leading research and advisory firm focused on technology for financial institutions globally.

nCino’s Financial Services Impact Awards aim to recognize nCino customers of various asset sizes from around the globe for how their use of the nCino Bank Operating System® has positively influenced the financial services industry. The nominees this year consisted of nearly 20 institutions from multiple countries, across a variety of asset sizes and multiple business lines including corporate and investment banking, commercial banking, retail banking, mortgage lending and agriculture lending. Finalists were recognized at nSight 2022, nCino’s annual user conference, for their game-changing achievements in client service, contributions to their communities and improvements to their employees’ experience across three categories: Innovation, Reputation and Speed.

The 2022 winners of the nCino Financial Services Impact Awards are:

  • Innovation: Texas Farm Credit;
    • Shortened employee onboarding time from 1 year to 2 weeks.
  • Reputation: Great Southern Bank;
    • Went from re-keying the same data 8 times through application life cycle to only 2 times.
  • Speed: Natixis Corporate & Investment Banking (Natixis CIB);
    • Provide ability to automatically capture part of the financial statements to reduce the operational time completion and anticipate coming challenges in terms of regulatory data requirements.

Celent assessed each nomination for how it met the parameters of the category for which it was submitted. These criteria included the customer’s use of the nCino platform; the challenges that were overcome; quantitative and qualitative results; and the customer’s larger impact on their clients and the financial services industry. A monetary donation was made on behalf of each of the three winners to a non-profit organization of their choice.

“While every nominee we evaluated demonstrated immense value to their clients, this year’s winners comprehensively demonstrated major achievements across all five assessment dimensions,” said Dan Latimore, Chief Research Officer at Celent. “All of the nominees should be extremely proud of the digital transformation journeys and positive impacts they’ve made on their clients, employees and communities over the past year.”

“We’re grateful to Celent for their support of our annual Financial Services Impact Awards and acknowledging the accomplishments our customers have achieved through their use of the nCino platform,” said Sean Desmond, Chief Customer Success Officer at nCino. “nSight provides the perfect opportunity to recognize and showcase how our distinguished customers are enhancing experiences for their clients in terms of digital transformation.”

About nCino
nCino (NASDAQ: NCNO) is the worldwide leader in cloud banking. The nCino Bank Operating System® empowers financial institutions with scalable technology to help them achieve revenue growth, greater efficiency, cost savings and regulatory compliance. In a digital-first world, nCino’s single cloud-based platform enhances the employee and client experience to enable financial institutions to more effectively onboard clients, make loans and manage the entire loan life cycle, and open deposit and other accounts across lines of business and channels. Transforming how financial institutions operate through innovation, reputation and speed, nCino is partnered with more than 1,750 financial institutions of all types and sizes on a global basis. For more information, visit www.ncino.com.

About Celent
Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally experienced analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned subsidiary of Marsh McLennan. [NYSE: MMC]. For more information, visit www.celent.com. Follow Celent on Twitter @Celent_Research.

MEDIA CONTACTS  
Sutton Resler, nCino Ryan Kelly, nCino
+1 571.236.4966 +1 732.770.5942
sresler@mww.com ryan.kelly@ncino.com
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“Riva The Persuaders!” – The Short Film for the Brand’s 180th Anniversary is a Classy Action Movie With Favino, Beckham and Leclerc

Inspired by the famous TV series “The Persuaders!” – in Italy “Attenti a quei due” – this enthralling action film is a blend of elegance, irony and adrenaline. It can now be seen on social networks and YouTube.

‘Riva the Persuaders’ Film Poster

A short film for the brand ‘Riva’ 180th anniversary in a classy action movie with Pierfrancesco Favino, David Beckham and Charles Leclerc

SARNICO, Italy, June 16, 2022 (GLOBE NEWSWIRE) — A highly engaging short film with three stars involved in an adventure on the road and on the waves. Co-starring Riva and Ferretti Group boats.

People who saw the world premiere at the Gran Teatro La Fenice in Venice say it’s not to be missed. But then, Pierfrancesco Favino, David Beckham and Charles Leclerc alone would be enough for it to classify as an extraordinary project.

The great news is that the short film can now be seen on YouTube and the social channels of Riva and Ferretti Group.

Inspired by the cult TV series “The Persuaders!” (in Italy “Attenti a quei due”), the film was made over the past few weeks on the coastline around the border between Italy and the Côte d’Azur.

The hugely famous protagonists are Pierfrancesco Favino, the most important Italian actor, who was also in the Riva brand’s first short film (“Riva in the Movie”), the international football star David Beckham, an icon of British style and one of the most followed celebrities in the world and Charles Leclerc, an outstanding Scuderia Ferrari team racing driver idolised by Formula 1 fans.

David Beckham and Pierfrancesco Favino ‘Riva the Persuaders’ Film

A short film for the brand ‘Riva’s’ 180th anniversary in a classy action movie with Pierfrancesco Favino, David Beckham and Charles Leclerc

“Riva’s story reads like a movie and this extraordinary short film, with its awesome trio of protagonists, is the perfect celebration of the brand’s 180th anniversary. My thanks go to Pierfrancesco, David and Charles for the friendship, the passion and fun they put into the project: the result is spectacular,” said Ferretti Group CEO Alberto Galassi. “I was a loyal viewer of the TV series “The Persuaders!” and I found the same ironic and elegant style in this little gem of a film. As always, Riva delivers big emotions.”

Together with the three celebrities, the stars of the film are the magnificent boats built by the storied Riva yard, which is celebrating its 180th anniversary this year, as well as a dazzling Ferrari and an incredible vintage Maserati.

“Riva The Persuaders!” was shot on the Côte d’Azur and in Monte Carlo, where Pierfrancesco Favino aboard a magnificent Riva 56’ Rivale races with David Beckham’s Riva 68’ Diable and Charles Leclerc aboard a Rivamare.

The action and movements are those of an adrenaline-pumping film featuring chases on both land and sea.

The brand Riva’s 180th anniversary Pierfrancesco Favino, David Beckham and Alberto Galassi

Pierfrancesco Favino (Left), Ferretti Group CEO Alberto Galassi (Middle) and David Beckham (Right) at the brand Riva’s 180th anniversary

As in the case of Riva’s previous short film, the director was Federico Brugia, with production by Armando Testa Studios, in the Armando Testa Group.

Riva and Ferretti Group
Riva is a Ferretti Group brand. Thanks to Italy’s centuries-old yachting tradition, the Ferretti Group is a world leader in the design, construction and sale of luxury yachts and pleasure vessels, with a unique portfolio of prestigious and exclusive brands: Ferretti Yachts, Riva, Pershing, Itama, CRN, Custom Line and Wally. Led by Chief Executive Officer Alberto Galassi, the Ferretti Group owns and manages six shipyards located across Italy, which combine the efficiency of industrial production with typical world-class Italian craftsmanship, reaching customers in more than 70 countries across the world thanks to a direct presence in Europe, the United States of America and Asia and its network of approximately 60 carefully selected dealers. Ferretti Group motor yachts, the utmost expression of Made in Italy elegance and creative genius, have always stood out for their exceptional quality, cutting-edge technology, record safety and optimum performance in the water, as well as their exclusive design and timeless appeal.
For more information: www.riva-yacht.com

For more information:
LaPresse SpA Communication and Press Office Director
Barbara Sanicola – barbara.sanicola@lapresse.it

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/e161068b-87d3-4d1c-b8b2-3d650771eadc

https://www.globenewswire.com/NewsRoom/AttachmentNg/2bdeae6d-5d45-4cb7-b617-c110f4579fea

https://www.globenewswire.com/NewsRoom/AttachmentNg/f09e6b9d-5899-44c1-9461-4a60f8bcc4b1

The photos are also available at Newscom, www.newscom.com, and via AP PhotoExpress.

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BoL pledges to ensure monetary stability

The Bank of the Lao PDR will implement policies and priorities to ensure monetary stability in the country, Sonexay Sithphaxay, Governor of the Bank of the Lao PDR told the 3rd Ordinary Session of the 9th National Assembly on Monday.
“In the last 6 months we need to make the Lao kip appreciate against the US dollar at a significant pace every month and inflation must be lower than 12%,” said Mr Sonexay.
” We will implement an intergrated monetary policy to maintain the amount of money circulated in the economic system at a level suitable to the current demand of social economic development, avoid causing an unnecessarily high demand for consumption and imports than what is needed.
BoL will sell 10 trillion worth of 6-month bonds to the general public not excluding financial institutes and use an exchange rate policy that is market-oriented to ensure exchange rate at commercial banks and exchange shops fluctuate at level friendly to the economic and monetary balance.
Bol also pledged to further improve foreign currency management mechanisms to strengthen the national foreign currency status and foreign exchange reserves and work with relevant authorities to help micro, small and medium enterprises access funding from banks.

Source: Lao News Agency

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Recession Is ‘Not Inevitable,’ Biden Says in AP Interview

President Joe Biden told The Associated Press on Thursday that the American people are “really, really down” after a tumultuous two years with the coronavirus pandemic, volatility in the economy and now surging gasoline prices that are slamming family budgets.

He said a recession is not inevitable and bristled at claims by Republican lawmakers that last year’s COVID-19 aid plan was fully to blame for inflation reaching a 40-year high, calling that argument bizarre.

As for the overall American mindset, Biden said, “People are really, really down.”

“They’re really down,” he said. “The need for mental health in America, it has skyrocketed, because people have seen everything upset. Everything they’ve counted on upset. But most of it’s the consequence of what’s happened, what happened as a consequence of the COVID crisis.”

Speaking to the AP in a 30-minute Oval Office interview, Biden addressed the warnings by economists that the United States could be headed for a recession.

“First of all, it’s not inevitable,” he said. “Secondly, we’re in a stronger position than any nation in the world to overcome this inflation.”

As for the causes of inflation, Biden flashed some defensiveness on that count.

“If it’s my fault, why is it the case in every other major industrial country in the world that inflation is higher? You ask yourself that? I’m not being a wise guy,” he said.

The president said he saw reason for optimism with the 3.6% unemployment rate and America’s relative strength in the world.

“Be confident, because I am confident we’re better positioned than any country in the world to own the second quarter of the 21st century,” Biden said. “That’s not hyperbole, that’s a fact.”

Biden’s bleak assessment of the national psyche comes as voters have soured on his job performance and the direction of the country. Only 39% of U.S. adults approve of Biden’s performance as president, according to a May poll from The Associated Press-NORC Center for Public Research, dipping from negative ratings a month earlier.

The president outlined some of the hard choices he has faced, saying the U.S. needed to stand up to Russian President Vladimir Putin for invading Ukraine in February even though tough sanctions imposed as a result of that war have helped caused gas prices to surge, creating a political risk for Biden in an election year. He called on oil companies to think of the world’s short-term needs and increase production.

Asked why he ordered the financial penalties against Moscow that have helped disrupt food and energy markets globally, Biden said he made his calculation as commander in chief rather than as a politician thinking about the election.

“I’m the president of the United States,” he said. “It’s what’s best in the country. No kidding. No kidding. So what happens? What happens if the strongest power in NATO, the organizational structure we put together, walked away from Russian aggression?”

Biden talked about the possibility of chaos in Europe if an unimpeded Russia kept moving deeper into the continent, China was emboldened to take over Taiwan and North Korea grew even more aggressive with its nuclear weapon ambitions.

Biden renewed his contention that major oil companies have benefited from higher prices without increasing production as much as they should. He said the companies needed to think of the world in the short term, not just their investors.

Source: Voice of America

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Wall Street Tumbles on Fears for Economy as More Rates Rise

Fear swept through financial markets Thursday, and Wall Street tumbled as worries roared back to the fore that the world’s fragile economy may buckle under higher interest rates.
The S&P 500 fell 3.3% in a widespread wipeout to more than reverse its blip of a 1.5% rally from a day before. Analysts had warned of more big swings given deep uncertainties about whether the Federal Reserve and other central banks can tiptoe the narrow path of hiking interest rates enough to get inflation under control but not so much that they cause a recession.
The Dow Jones Industrial Average lost 2.4% and was briefly down more than 900 points, while the Nasdaq composite sank 4.1%. It was the sixth loss for the S&P 500 in its last seven tries, and all but 3% of the stocks in the index dropped.
Wall Street fell with stocks across Europe after central banks there followed up on the Federal Reserve’s big interest-rate hike on Wednesday. The Bank of England raised its key rate for the fifth time since December, though it opted for a more modest increase of 0.25 percentage points than the 0.75-point hammer brought by the Fed.
Switzerland’s central bank, meanwhile, raised rates for the first time in years, a half-point hike. Taiwan’s central bank raised its key rate by an eighth of a point. Japan’s central bank began a two-day meeting, though it has held out on raising rates and making other economy-slowing moves that investors call “hawkish.”
Such moves and expectations for plenty more have sent investments tumbling this year, from bonds to bitcoin. Higher interest rates slow the economy by design, in hopes of stamping out inflation. But they’re a blunt tool that can choke off the economy if used too aggressively.
“Another concern is that with the change in policy, there’s been weakening economic data already,” said Bill Northey, senior investment director at U.S. Bank Wealth Management. “That raises the odds of a recession in the latter part of 2022 into 2023.”
The worries dragged the S&P 500 into a bear market earlier this week, meaning it had dropped more than 20% from its peak. It’s now 23.6% below its record set early this year and back to where it was in late 2020. That effectively erases 2021, which was one of the best years for Wall Street since the turn of the millennium.
The S&P 500 fell 123.22 points to 3,666.77. The Dow lost 741.46 to 29,927.07, and the Nasdaq dropped 453.06 to 10,646.10. Thursday’s biggest losses hit the stocks of the smallest companies, a signal of pessimism about the economy’s strength. The Russell 2000 index of smaller stocks sank 81.30, or 4.7%, to 1,649.84.
Not only is the Federal Reserve hiking short-term rates, it also this month began allowing some of the trillions of dollars of bonds it purchased through the pandemic to roll off its balance sheet. That should put upward pressure on longer-term interest rates. It’s another way central banks have been ripping away supports they earlier propped underneath markets to juice the economy.
The U.S. economy is still holding up, driven in particular by a strong jobs market. Fewer workers filed for unemployment benefits last week than a week before, a report showed on Thursday. But more signs of trouble have been emerging.
On Thursday, one report showed homebuilders broke ground on fewer homes last month. Rising mortgage rates resulting directly from the Fed’s moves are digging into the industry. A separate reading on manufacturing in the mid-Atlantic region also unexpectedly fell.
“Corporate earnings estimates have not yet changed to reflect some of the softening economic data and that could lead to the second leg of this repricing,” Northey said.
Treasury yields swung sharply on Thursday, with the 10-year yield down to 3.23% from 3.39% late Wednesday. It had climbed as high as 3.48% in the morning, near its highest level since 2011.
Higher rates have been delivering the hardest hits this year to the investments that soared the most through the easy, ultralow rates of earlier in the pandemic, which now look to be among the most expensive and risky investments. That includes bitcoin and high-growth technology stocks.
Big Tech stocks were among the heaviest weights on the market Thursday, but the sharpest losses hit stocks whose profits depend more on the strength of the economy and whether customers can keep up their purchases amid the highest inflation in decades.
Cruise operators Norwegian Cruise Line Holdings, Royal Caribbean Group and Carnival all lost more than 11%.
It’s all a sharp turnaround from a day earlier, when stocks rallied immediately after the Fed’s biggest hike to rates since 1994. Analysts said investors seemed to latch onto a comment from Fed Chair Jerome Powell, who said mega-hikes of three-quarters of a percentage point would not be common.
Powell said Wednesday the Fed is moving “expeditiously” to get rates closer to normal levels after last week’s stunning report that showed inflation at the consumer level unexpectedly accelerated last month, which dashed hopes that inflation may have already peaked.
The Fed is “not trying to induce a recession now, let’s be clear about that,” Powell said. He called Wednesday’s big increase “front-end loading.”

Source: Voice of America

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CNBC Series, Inside the Blueprint, Features Vancouver-Based Xypex Chemical Corp. in Its Focus on Innovators Series

Teaser Cover

Teaser Cover

VANCOUVER, British Columbia, June 16, 2022 (GLOBE NEWSWIRE) — The innovation behind Xypex Chemical Corporation’s crystalline waterproofing technology for concrete will be featured in the June 19 episode of Inside the Blueprint, an award-winning television series that chronicles ideas and products that impact our lives.

It’s airing on Fox Business News on June 19 at 2 p.m. (Eastern), on Bloomberg News in LATAM on July 10 at 10 a.m. (Eastern) and in syndication thereafter. The episode describes how Xypex’s proprietary crystalline waterproofing technology works deep inside the concrete mass to create a permanent waterproof structure that resists extreme hydrostatic pressure and self-heals cracks that can form.

The episode explains that concrete is unrivaled as a building material. It is used in millions of building projects around the world. And while concrete is durable, it can deteriorate in harsh environmental conditions, causing large expenditures on remediation or replacement construction. Enter Xypex, a Vancouver-based company that developed a proprietary crystalline waterproofing technology in 1969. Proven over decades of use in all types of structures under the most challenging environmental conditions, Xypex was recently certified as the first and only admixture for waterproofing concrete in the EU.

In this season’s Focus on Innovation, Inside the Blueprint examines four critical steps that lead to cutting-edge products: Inspiration, the Idea, the Process, and the Impact. Inside the Blueprint traces these steps with members of the Xypex leadership team, who explain how Xypex significantly extends the life of concrete structures using a proprietary technology that is environmentally friendly and can extend the service life of structures from 50 to 150 years.

While the company is driven by innovation and leading-edge technology, its leadership team explains that Xypex prides itself on being in the “people business” through extensive support to its customers and longstanding relationships that make it the preferred product with architects, engineers and contractors in more than 90 countries around the globe.

Check out this episode of Inside the Blueprint to discover how Xypex plays an integral role in protecting iconic structures and critical infrastructure worldwide. Learn more, www.xypex.com/blueprint-tv-show/

Contact Info:

Chantell Segal

Marketing Director

Email: Chantell.segal@xypex.com

Tel: 604.273.5265

About 

Since 1969, Xypex’s proprietary Crystalline Technology has set an international standard of excellence in concrete waterproofing and protection. Based in Vancouver, Canada, Xypex Chemical Corporation manufactures a range of waterproofing and protection products used in the construction and restoration of water and sewage infrastructure, foundations, tunnels, maintenance holes, and marine structures. Its unique penetrating and crystallizing technology has been tested and proven worldwide in all climates and widely varying construction situations. Backed by a distribution/service network in more than 90 countries, Xypex’s unique Crystalline Technology provides confidence and peace of mind to architects, engineers, contractors, and concrete producers. For more information, visit www.xypex.com.

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CEO – Chris Miller

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