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TOTAL PLAY ANNOUNCES 15% GROWTH IN EBITDA, TO Ps.18,361 MILLION IN 2023

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9 months ago

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—11% increase in revenue and 9% growth in costs and expenses in 2023, boost EBITDA margin to 45%, highest annual level since the company issues public debt—

—Subscriber base growth moderation strategy and strict financial discipline significantly strengthen Total Play’s profitability, cash flow and liquidity—

—Firm increase in the company’s cash and restricted cash balance; it grows 48%, to Ps.5,754 million at the end of the year—  

MEXICO CITY, Feb. 20, 2024 /PRNewswire/ — Total Play Telecomunicaciones, S.A.P.I. de C.V. (“Total Play”), a leading telecommunications company in Mexico that offers internet access, pay television and telephony services, through one of the largest 100% fiber optic networks in the country, today announced financial results for the fourth quarter 2023 and 2023.

“The strategy to moderate the growth of our subscriber base and initiatives that further drive operational efficiency, launched in 2023, together with the company’s strict financial discipline, notably strengthened the profitability and cash generation of Total Play during the year. Rigorous budget planning, process optimization and structures rationalization translated into lower annual growth in costs and expenses compared to revenue and in a firm 15% increase in EBITDA in 2023,” commented Eduardo Kuri, CEO of Total Play. “Capex figures, consistent with our solid strategy, allowed a significant positive balance of EBITDA less Capex – a fundamental indicator of cash flow generation – of Ps.2,735 million in 2023, notably higher than the negative figure of Ps.6,493 million a year ago.”

“Likewise, the company’s balance sheet was additionally strengthened, with a 48% growth in the cash and restricted cash balance, to Ps.5,754 million at the end of 2023, while the appropriate planning of the maturity profile allowed us to reduce debt with cost of short-term loans by 34%,” added Mr. Kuri. “Our firm strategy has translated into increasing financial strength this year and we are determined to further drive the liquidity and robustness of Total Play’s capital structure going forward.”

Fourth quarter results

Revenue for the quarter totaled Ps.10,674 million, 10% above Ps.9,736 million in the same period of the previous year. Total costs and expenses were Ps.5,938 million, compared to Ps.5,356 million the previous year.

As a result, Total Play’s EBITDA grew 8%, to Ps.4,736 million, from Ps.4,380 million a year ago; the EBITDA margin for the quarter was 44%. The company recorded operating income of Ps.605 million, compared to Ps.747 million a year ago.

Total Play reported a net loss of Ps.1,024 million, from a loss of Ps.438 million in the same quarter of 2022.

    Q4 2022 

    Q4 2023 

   Change 

Ps. 

%

Revenue from services 

$9,736

$10,674

$938

10 %

EBITDA       

$4,380

$4,736

$356

8 %

Operating income 

 

Net result       

$747 

  

$(438) 

$605

  

$(1,024) 

$(142) 

  

$(586) 

-19% 

  

-134% 

Amounts in millions of pesos.
EBITDA: Earnings before interest, depreciation, and amortization.

Service revenue

The company’s revenue grew 10%, as a result of a 7% increase in sales in the residential segment, and a 29% increase in revenue from the corporate business.

Totalplay Residencial’s revenue growth, to Ps.8,945 million, compared to Ps.8,398 million the previous year, is related to a 10% increase in the number of subscribers of the company’s services in the year, to reach 4,779,480 — a figure that includes 69,554 small and medium-sized businesses — at the end of 2023. Compared to the previous quarter, the number of net additions grew by 85,774 users, in line with Total Play’s subscriber base growth moderation strategy.

The quarter’s average revenue per subscriber (ARPU) was Ps.616, from Ps.617 a year ago.

As previously announced, in the first quarter of the year the company’s investment program in geographic expansion concluded, given that the territory in which its target market is located throughout the country was reached. According to this, the number of homes passed in Mexico at the end of this period was 17,556,755, a figure with minor variations during 2023. Compared to the same quarter of 2022 — in which the number of homes passed was 17,332,265 — the growth was 1%.

Penetration — proportion of homes passed by Total Play that have the company’s telecommunications services — was 27.2% at the end of the quarter, up from 25.2% a year ago.

Revenue from the business segment was Ps.1,729 million, from Ps.1,338 million the previous year, due to the implementation of various projects by business organizations this quarter.

Costs and expenses

Total costs and expenses grew 11%, as a result of a 19% increase in service costs and a 7% growth in general expenses.

The increase in expenses, to Ps.3,874 million, from Ps.3,627 million, reflects higher maintenance and fee expenses — in the context of growing operations in the company —partially offset by reduction in personnel and advertising expenses, derived from strategies that generate strong operational efficiencies.

The increase in costs, to Ps.2,064 million, from Ps.1,729 million the previous year results mainly from increased costs of content and business projects, partially offset by lower costs of licenses and interconnection links.

EBITDA and net result

Total Play’s EBITDA was Ps.4,736 million, 8% higher compared to Ps.4,380 million the previous year.

Relevant variations below EBITDA were the following:

Increase of Ps.498 million in depreciation and amortization, mainly as a result of subscriber acquisition costs — telecommunication equipment, labor and installation expenses.

Growth of Ps.172 million in interest expense, consistent with the increase in the balance of financial debt.

Decrease of Ps.636 million in foreign exchange gains, as a consequence of net liability monetary position in foreign currency, together with lower appreciation of the peso against the basket of currencies in which the company’s monetary liabilities are denominated this quarter, compared to the previous year.

Total Play reported a net loss of Ps.1,024 million, from a loss of Ps.438 million in the same period of 2022.

Balance sheet

As of December 31, 2023, the company’s debt with cost was Ps.52,199 million, compared to Ps.49,533 million the previous year. The growth of the debt balance is related to credits with financial institutions during the period.

Consistent with the strategy to expand the company’s maturity profile, the balance of debt with cost for short-term loans was reduced 34%, to Ps.4,573 million, from Ps.6,973 million a year ago.

The lease liability was Ps.5,665 million, 20% lower compared to Ps.7,073 million the previous year.

The balance of cash and cash equivalents, as well as restricted cash in trusts totaled Ps.5,754 million, 48% higher compared to Ps.3,878 million a year ago. As a result, the company’s net debt was Ps.52,110 million, 1% lower than Ps.52,728 million the previous year.

Total Play’s fixed assets — which include the accumulated investment in fiber optics, telecommunications equipment, and the cost of acquiring subscribers, among other assets — were Ps.61,946 million, 7% above Ps.58,165 million a year ago.

Twelve-month results

Revenue for 2023 was Ps.40,503 million, 11% above Ps.36,352 million from the previous year, within the framework of growth of 13% in residential income, to Ps.34,586 million, and 2% in business income, to Ps.5,917 million.

Total costs and expenses grew 9%, to Ps.22,142 million, from Ps.20,384 million, as a result of a 12% increase in general expenses and a 3% increase in service costs. Total costs and expenses grow at a lower rate than income as a result of strict compliance with budgets and strategies that generate operational efficiencies throughout the company.

Total Play reported EBITDA of Ps.18,361 million, 15% above the Ps.15,968 million of the previous year; The EBITDA margin was 45%, one percentage point above the previous year. Operating income was Ps.2,316 million, from a profit of Ps.3,097 million in 2022.

The company recorded a net loss of Ps.3,147 million, compared to a loss of Ps.2,251 million a year ago.

2022

2023

   Change 

Ps. 

%

Revenue from services 

$36,352

$40,503

$4,151

11 %

EBITDA       

$15,968

$18,361

$2,393

15 %

Operating income 

  

Net result       

$3,097 

  

$(2,251) 

$2,316 

  

$(3,147) 

$(781) 

  

$(896) 

-25% 

  

-40% 

Amounts in millions of pesos.
EBITDA: Earnings before interest, depreciation, and amortization. 

About Total Play

Total Play is a leading Triple Play provider in Mexico that, thanks to the widest direct-to-home fiber optic network in the country, offers entertainment and technologically advanced services with the highest quality and speed in the market. For the latest news and updates about Total Play, visit: www.totalplay.com.mx.

Total Play is a Grupo Salinas company (www.gruposalinas.com), a group of dynamic, fast-growing, and technologically advanced companies focused on creating economic value through market innovation and goods and services that improve standards of living; social value to improve community well-being; and environmental value by reducing the negative impact of its business activities. Created by Mexican entrepreneur Ricardo B. Salinas (www.ricardosalinas.com), Grupo Salinas operates as a management development and decision forum for the top leaders of member companies. Each of the Grupo Salinas companies operates independently, with its own management, board of directors, and shareholders. Grupo Salinas has no equity holdings. The group of companies shares a common vision, values, and strategies for achieving rapid growth, superior results, and world-class performance.

Except for historical information, the matters discussed in this press release are concepts about the future that involve risks and uncertainty that may cause actual results to differ materially from those projected. Other risks that may affect Total Play and its subsidiaries are presented in documents sent to the securities authorities.

Investor Relations:

Bruno Rangel
+ 52 (55) 1720 9167
jrangelk@totalplay.com.mx 

Rolando Villarreal
+ 52 (55) 1720 9167
rvillarreal@totalplay.com.mx 

Press Relations:

Luciano Pascoe
Tel. +52 (55) 1720 1313 ext. 36553
lpascoe@gruposalinas.com.mx 

 

TOTAL PLAY TELECOMUNICACIONES, S.A.P.I.  DE C.V. AND SUBSIDIARIES

CONSOLIDATED QUARTERLY INCOME STATEMENTS

(Millions of Mexican pesos)

4Q22

4Q23

Change

$

%

$

%

$

%

Revenue from services

9,736

100 %

10,674

100 %

938

10 %

Cost of services

(1,729)

(18 %)

(2,064)

(19 %)

(335)

(19 %)

Gross profit

8,007

82 %

8,610

81 %

603

8 %

General expenses

(3,627)

(37 %)

(3,874)

(36 %)

(247)

(7 %)

EBITDA

4,380

45 %

4,736

44 %

356

8 %

Depreciation and amortization

(3,633)

(37 %)

(4,131)

(39 %)

(498)

(14 %)

Operating profit 

747

8 %

605

6 %

(142)

(19 %)

Financial cost:

Interest revenue

38

0 %

53

0 %

15

39 %

Change in fair value of financial instruments

(216)

(2 %)

(113)

(1 %)

103

48 %

Accrued interest expense

(1,289)

(13 %)

(1,461)

(14 %)

(172)

(13 %)

Other financial expenses

(99)

(1 %)

(54)

(1 %)

45

45 %

Foreign exchange gain – Net

1,248

13 %

612

6 %

(636)

(51 %)

(318)

(3 %)

(963)

(9 %)

(645)

n.m. 

Equity interest in net results of non-controlling entities

(1)

(0 %)

–

0 %

1

100 %

Profit (Loss) before income tax provisions

428

4 %

(358)

(3 %)

(786)

(184 %)

Income tax provision

(885)

(9 %)

(666)

(6 %)

219

25 %

Net loss before non-controlling interest

(457)

(5 %)

(1,024)

(10 %)

(567)

(124 %)

Non-controlling interest

19

0 %

–

0 %

(19)

(100 %)

Net Loss for the period

(438)

(4 %)

(1,024)

(10 %)

(586)

(134 %)

 

TOTAL PLAY TELECOMUNICACIONES, S.A.P.I. DE C.V. AND SUBSIDIARIES

CONSOLIDATED ACCUMULATED INCOME STATEMENTS

(Millions of Mexican pesos)

Accumulated

Accumulated

12M22

12M23

Change

$

%

$

%

$

%

Revenue from services

36,352

100 %

40,503

100 %

4,151

11 %

Cost of services

(7,588)

(21 %)

(7,801)

(19 %)

(213)

(3 %)

Gross profit

28,764

79 %

32,702

81 %

3,938

14 %

General expenses

(12,796)

(35 %)

(14,341)

(35 %)

(1,545)

(12 %)

EBITDA

15,968

44 %

18,361

45 %

2,393

15 %

Depreciation and amortization

(12,871)

(35 %)

(16,045)

(40 %)

(3,174)

(25 %)

Operating profit

3,097

9 %

2,316

6 %

(781)

(25 %)

Financial cost:

Interest revenue

98

0 %

191

0 %

93

95 %

Change in fair value of financial instruments

(358)

(1 %)

(576)

(1 %)

(218)

(61 %)

Accrued interest expense

(4,228)

(12 %)

(5,528)

(14 %)

(1,300)

(31 %)

Other financial expenses

(254)

(1 %)

(393)

(1 %)

(139)

(55 %)

Foreign exchange gain – Net

1,337

4 %

3,384

8 %

2,047

153 %

(3,405)

(9 %)

(2,922)

(7 %)

483

14 %

Equity interest in net results of non-controlling entities

(1)

(0 %)

(19)

(0 %)

18

n.m.

Profit (Loss) before income tax provisions

(309)

(1 %)

(625)

(2 %)

(316)

(102 %)

Income tax provision

(1,969)

(5 %)

(2,522)

(6 %)

553

28 %

Net loss before non-controlling interest

(2,278)

(6 %)

(3,147)

(8 %)

(869)

(38 %)

Non-controlling interest

27

0 %

–

0 %

27

100 %

Net Loss for the period

(2,251)

(6 %)

(3,147)

(8 %)

(896)

(40 %)

 

TOTAL PLAY TELECOMUNICACIONES, S.A.P.I. DE C.V. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(Millions of Mexican pesos)

As of December 31,

2022

2023

Change

$

%

$

%

$

%

Assets

CURRENT ASSETS

Cash and cash equivalents

1,890

2 %

2,377

3 %

487

26 %

Restricted cash in trusts

1,988

2 %

3,377

4 %

1,389

70 %

Customers – net

5,506

7 %

4,426

5 %

(1,080)

(20 %)

Other accounts receivable

236

0 %

183

0 %

(53)

(22 %)

Recoverable taxes

3,810

5 %

4,141

5 %

331

9 %

Related parties

310

0 %

367

0 %

57

18 %

Inventories

2,342

3 %

2,926

3 %

584

25 %

Prepaid expenses

908

1 %

514

1 %

(394)

(43 %)

Total current assets

16,990

20 %

18,311

21 %

1,321

8 %

NON-CURRENT ASSETS

Related parties

154

0 %

237

0 %

83

54 %

Property, plant and equipmente – Net

58,165

70 %

61,946

71 %

3,781

7 %

Rights-of-use assets -Net

6,703

8 %

4,780

5 %

(1,923)

(29 %)

Trademarks and other assets

1,368

2 %

2,171

2 %

803

59 %

Total non-current assets

66,390

80 %

69,134

79 %

2,744

4 %

Total assets

83,380

100 %

87,445

100 %

4,065

5 %

Liabilities and Stockholders’ Equity

SHORT-TERM LIABILITIES

Financial debt

6,973

8 %

4,573

5 %

(2,400)

(34 %)

Lease liabilities

2,108

3 %

2,338

3 %

230

11 %

Trade payables

10,751

13 %

13,373

15 %

2,622

24 %

Reverse factoring

2,691

3 %

2,234

3 %

(457)

(17 %)

Other payables and payable taxes

2,446

3 %

1,473

2 %

(973)

(40 %)

Related parties

365

0 %

1,012

1 %

647

177 %

Liabilities from contracts with customers

986

1 %

994

1 %

8

1 %

Interest payable

385

0 %

316

0 %

(69)

(18 %)

Derivative financial instruments

126

0 %

175

0 %

49

39 %

Total short-term liabilities

26,831

32 %

26,488

30 %

(343)

(1 %)

LONG-TERM LIABILITIES

Financial debt

42,560

51 %

47,626

54 %

5,066

12 %

Lease liabilities

4,965

6 %

3,327

4 %

(1,638)

(33 %)

Derivative financial instruments

764

1 %

1,442

2 %

678

89 %

Employee benefits

49

0 %

74

0 %

25

51 %

Deferred income tax

2,355

3 %

5,253

6 %

2,898

123 %

Total long-term liabilities

50,693

61 %

57,722

66 %

7,029

14 %

Total liabilities

77,524

93 %

84,210

96 %

6,686

9 %

STOCKHOLDERS’ EQUITY

5,856

7 %

3,235

4 %

(2,621)

(45 %)

Total liabilities and stockholders’ equity

83,380

100 %

87,445

100 %

4,065

5 %

 

TOTAL PLAY TELECOMUNICACIONES, S.A.P.I. DE C.V. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Millions of Mexican pesos)

12th months period ended

December 31,

2022

2023

Operating activities:

Loss before income tax provision

(309)

(625)

Items not requiring the use of resources:

Depreciation and amortization

12,871

16,045

Employee benefits

27

16

Items related to investing or financing activities:

Accrued interest income

(98)

(191)

Accrued interest expense and other financial transactions

4,840

6,497

Unrealized foreign exchange gain

(1,299)

(3,420)

Derivative financial instruments valuation

45

–

Non-Controlling Participation

27

19

16,104

18,341

Resources (used in) generated by operating activities:

Customers and unearned revenue

(1,134)

1,087

Other receivables

(91)

53

Related parties, net

(91)

388

Taxes to be recovered

244

(330)

Inventories

(462)

(584)

Advance payments

(442)

394

Trade payables

3,253

2,401

Other payables

440

(952)

Cash flows generated by operating activities

17,821

20,798

Investing activities: 

Acquisition of property, plant and equipment

(22,461)

(15,626)

Other assets

82

(53)

Collected interest

98

191

Cash flows (used in) investing activities

(22,281)

(15,488)

Financing activities:

Capital contributions

122

–

Loans received

8,726

6,034

Leasing cash flows

(3,075)

(2,650)

Restricted Cash in Trusts

(1,101)

(1,389)

Reverse factoring

1,422

(457)

Derivative financial instruments

–

(1,012)

Interest payment

(3,910)

(5,349)

Cahs flows generated by (used in) financing activities

2,184

(4,823)

Net (decrease) increase in cash and cash equivalents

(2,276)

487

Cash and cash equivalents at the beginning of the year 

4,166

1,890

Cash and cash equivalents at the end of the year 

1,890

2,377

 

 

View original content:https://www.prnewswire.com/news-releases/total-play-announces-15-growth-in-ebitda-to-ps18-361-million-in-2023–302066709.html

SOURCE Total Play Telecomunicaciones, S.A.P.I. de C.V.

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/C O R R E C T I O N from Source — Carbon Upcycling Technologies Inc./

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6 minutes ago

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November 15, 2024

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In the news release, Carbon Upcycling, Minnesota DOT and National Road Research Alliance Joint Study Shows High-Performance Low-Carbon Concrete is 30% Stronger than Existing Roadways, issued 12-Nov-2024 by Carbon Upcycling Technologies Inc. over CNW, we are advised by the company that corrections were made to the release. The complete, corected release follows:

Carbon Upcycling, Minnesota DOT and National Road Research Alliance Joint Study Shows High-Performance Low-Carbon Concrete is Stronger than Existing Roadways

Carbon Upcycling’s concrete mix demonstrated a 28% increase in strength at 28 days, while reducing cementitious content by 12.3%, setting a new standard for low-carbon sustainable infrastructure

CALGARY, AB, Nov. 12, 2024 /CNW/ – Carbon Upcycling Technologies, Inc. (Carbon Upcycling), a leader in decarbonization and carbon capture & utilization (CCU) for hard-to-abate industries, along with, the Minnesota Department of Transportation (MnDOT) and the National Road Research Alliance (NRRA) has successfully completed the construction phase of a multi-year study on the use of low-carbon cement in highways. The results highlight Carbon Upcycling’s ability to be a drop-in solution for reducing carbon-intensive cement in concrete.

The study, managed by Sutter Engineering LLC and sponsored by the National Road Research Alliance (NRRA), rigorously tested 16 unique concrete mixtures in real-world conditions on an active Minnesota highway to identify options that could reduce the carbon footprint of infrastructure without sacrificing strength or durability. Completed in early 2024, the study aimed to find materials that could significantly lower the carbon footprint of concrete paving without compromising durability. Carbon Upcycling’s CO2-enhanced mix achieved a 12.3% reduction in cement content while matching the workability of traditional concrete, allowing seamless handling, placement, and setting times for construction crews. These findings provide valuable data to guide future low-carbon infrastructure projects across North America, as the seamless integration into existing workflows offers a drop-in, low-carbon alternative without compromising ease of use or performance.

The study revealed significant performance and environmental benefits of Carbon Upcycling’s concrete mix:

Increased Strength: 28% stronger at 28 days compared to the advanced control concrete.Reduced Cement Use: The CCU process allowed a 12.3% reduction in cementitious material, effectively reducing both carbon emissions and material costs.Greater Resiliency to Natural Elements: 32% increase in chloride resistivity for more durable concrete.

“Infrastructure is the very foundation of a sustainable future, and at Carbon Upcycling we’re committed to creating materials that support this vision while establishing a secure, stable North American supply chain,” said Apoorv Sinha, CEO of Carbon Upcycling. “Our collaboration with the Minnesota Department of Transportation highlights how Carbon Upcycling can transform captured emissions into local materials that strengthen our infrastructure. By focusing on resilience and sustainability, we’re contributing to a vision where our essential structures are clean and built to last.”

Carbon Upcycling partnered with BURNCO to deploy and test 140 m³ of its CCU-enhanced concrete mix, monitored by Larry Sutter, Principal Engineer at Sutter Engineering LLC, for strength, workability, and environmental impact on a Minnesota highway.

“Carbon Upcycling submitted a very impressive mixture design to the trial,” said Larry Sutter, MnDOT’s Principal Engineer and the project’s technical manager. “Their material not only achieved the highest reduction in cementitious content among all submissions but also demonstrated remarkable strength. By embedding CO2 and reducing the reliance on portland cement, Carbon Upcycling’s technology addresses one of the concrete industry’s most pressing challenges—lowering its carbon footprint as global demand for cement is expected to double by 2050. This project data will be invaluable as the industry works toward its 2030 CO2 reduction targets.”

Since 2021, Carbon Upcycling has deployed over 3,000 tonnes of low-carbon cement and has attracted investment from some of the world’s largest cement industry players such as Cemex, CRH and Titan Cement.

About Carbon Upcycling Technologies:
Carbon Upcycling is a decarbonization and carbon capture & utilization technology provider for the world’s hardest-to-abate industries. The company’s commercial technology upcycles point-source industrial CO2 emissions and local industrial waste materials into high-performance, low-carbon cement alternatives. The company is currently commissioning its first-of-a-kind commercial system at Canada’s largest cement plant. Carbon Upcycling has received global recognition for its industry-leading innovation. Notably, Carbon Upcycling was named a 2023 and 2024 Global Cleantech 100, Reuter’s Top 100 Innovators Leading the Energy Transition, and a World Economic Forum 2024 Technology Pioneer.

For more information, visit www.carbonupcycling.com.

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SOURCE Carbon Upcycling Technologies Inc.

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Massachusetts Community Colleges Partner with AMSimpkins & Associates to Implement their S.A.F.E. Platform in Efforts to Combat Student Applicant Fraud

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6 minutes ago

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November 15, 2024

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This partnership marks a significant milestone for Massachusetts Community Colleges in their efforts to prevent fraud and ensure equitable access to education. The implementation of S.A.F.E. will provide the institutions with cutting-edge technology and reliable safeguards, solidifying their reputation as forward-thinking leaders in the fight against student application fraud.

ATLANTA, Nov. 15, 2024 /PRNewswire-PRWeb/ — AMSimpkins & Associates, a leader in cutting-edge cybersecurity solutions for educational institutions, is proud to announce that Massachusetts Community Colleges have selected the S.A.F.E. (Student Application Fraudulent Examination) platform to bolster their efforts in preventing and detecting student application fraud. This strategic move underscores Massachusetts’ commitment to maintaining the integrity of its admissions process and ensuring that valuable educational resources reach legitimate students.

“We’re excited to partner with Massachusetts Community Colleges and support their mission to provide quality education to genuine, eligible students.”

In recent years, fraudulent applications and financial aid scams have become increasingly pervasive issues, especially as institutions pivot towards more digital and remote application processes. By adopting the S.A.F.E. platform, Massachusetts Community Colleges are taking a proactive stance to safeguard their institutions against evolving fraud tactics.

S.A.F.E., developed by AMSimpkins & Associates, is a comprehensive fraud detection and prevention solution that leverages advanced data analytics, artificial intelligence (AI), machine learning algorithms, and real-time monitoring to identify potentially fraudulent activity within the student application and financial aid processes. With over 50 colleges and universities already utilizing the S.A.F.E. platform, Massachusetts Community Colleges now join a growing community of educational institutions committed to integrity, transparency, and security.

“S.A.F.E. is built from the ground up with the unique needs of higher education institutions in mind,” said Maurice Simpkins, President of AMSimpkins & Associates. “With our deep understanding of the higher education landscape, we’ve created a solution that not only detects and prevents fraud but also allows institutions to seamlessly integrate these checks into their admissions workflows. We’re excited to partner with Massachusetts Community Colleges and support their mission to provide quality education to genuine, eligible students.”

The S.A.F.E. platform offers a robust set of features to prevent and detect fraudulent applications, including:

Real-time Identity Verification: Through partnerships with industry-leading identity verification services, S.A.F.E. ensures that applicants are who they claim to be by cross-referencing multiple data points, including Social Security Number validation, address checks, and real-time ID verification.AI-Driven Anomaly Detection: S.A.F.E. continuously monitors and learns from application data patterns, enabling it to detect suspicious behaviors that could indicate fraudulent activity.Geo-Blocking and Risk Scoring: Institutions can customize geo-blocking settings to restrict access from high-risk regions and employ dynamic risk scoring based on user interactions, device profiling, and behavior analytics.Customizable Fraud Rules and Policies: The platform allows administrators to set specific fraud thresholds and responses, tailoring the system’s sensitivity to meet the unique needs of each college or university.Real-time Alerts and Data Sharing: S.A.F.E. sends real-time alerts to designated stakeholders if suspicious activities are detected, allowing for quick responses and preventative actions.Additionally, the platform facilitates data sharing across institutions to block repeated offenders system-wide.

In addition to its fraud prevention features, AMSimpkins & Associates also provides cybersecurity consulting and support through partnerships with Cybersecurity organizations, adding another layer of protection for Massachusetts Community Colleges. This comprehensive approach aligns perfectly with the state’s vision of creating a secure and resilient higher education environment.

About AMSimpkins & Associates

AMSimpkins & Associates is an industry-leading provider of cybersecurity solutions focused on safeguarding educational institutions. Their flagship product, S.A.F.E. (Student Application Fraudulent Examination), is specifically designed to address the complex challenges of fraud in higher education admissions and financial aid. By partnering with colleges, universities, and technology providers, AMSimpkins & Associates is committed to maintaining the integrity of education by keeping students and institutions safe from fraud.

For more information about AMSimpkins & Associates and the S.A.F.E. platform, please visit amsa-highered.com

Media Contact

LAQWACIA SIMPKINS, AMSimpkins and Associates, 1 6786824193, LSIMPKINS@AMSA-CONSULTING.COM, AMSimpkins and Associates

Twitter, Facebook, LinkedIn

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SOURCE AMSimpkins and Associates

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Technology

bswift Acquires Evive: Launches Integrated Personalized Engagement Platform

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6 minutes ago

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November 15, 2024

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bswift announces a fully integrated personalized engagement solution aimed at delivering better health care outcomes through data-driven personalization, predictive analytics, and behavioral science. 

CHICAGO, Nov. 15, 2024 /PRNewswire/ — bswift LLC, an industry leader in employee benefits technology and administration, announced today the launch of its fully-integrated personalization and engagement engine. This solution is a result of bswift’s recent acquisition of Evive Health, LLC, a pioneer in the field with a demonstrated track record of driving outcomes for employees, employers and health plans by optimizing benefit understanding and utilization, resources, and programs for millions of Americans. 

“By bringing bswift and Evive together, we have integrated a powerful engagement platform,” – bswift CEO, Ted Bloomberg.

With this exciting investment, bswift reinforces its mission to lead the benefits administration space and strengthens its role as a strategic ally for its clients – empowering them to deliver on their benefits strategies by motivating plan participants to manage their health and wellbeing proactively.

“Our clients and partners consistently tell us that member engagement, personalized experiences, and cost management are their top strategic priorities today and in the foreseeable future,” said bswift CEO, Ted Bloomberg. “By bringing bswift and Evive together, we have integrated a powerful engagement platform into our core benefits administration solution. That is a first, and we are delighted to immediately and directly support employers’ critical priorities with proven, industry-leading capabilities.” 

Using data-driven personalization and the power of predictive analytics and behavioral science, bswift’s personalization toolset is proven to increase benefits awareness, engagement, and utilization by delivering tailored and actionable messages about the right benefit at the right time. Demonstrated results include driving a 3X increase in health actions recommended by qualified providers, and a 12% increase in annual preventative care screening visits. 

“We’re thrilled to be the first in our market to deliver this supercharged engagement capability across all aspects of the user experience,” said bswift Executive Vice President of Product, Matt Waldrup. “bswift is completely reimagining the benefits experience with personalized, data-driven, multi-channel communications that engage employees across their physical, emotional, financial, and personal wellbeing, empowering people to make the most of their benefits.” 

bswift’s new personalization engine empowers employers and employees: 

Personalized, next-best-action journeysReward and incentive-based gamification to boost engagementOn-the-go access to benefits and incentive activities via mobile appRobust analytics and reporting for HR teams to track campaign ROI and engagement metrics

Employers can now leverage bswift’s expertise to systematically deliver smarter, more relevant communications to promote healthier habits, optimize benefit utilization – and maximize employee health outcomes. 

About bswift 
bswift LLC offers cloud-based technology and services that transform the way employees perceive and engage with their benefits. With adaptive technology, service excellence, and compassionate service, bswift serves millions worldwide. Their comprehensive suite of solutions provides intuitive, personalized online enrollment, interactive decision support, ACA compliance reporting, and employee engagement. Visit www.bswift.com to learn more. 

About Evive 

Evive is a digital communications and engagement platform that helps health plans and employers optimize the benefits, resources and programs they offer their employees. Using data-driven personalization, closed-loop engagement reporting and the power of predictive analytics and behavioral science, Evive increases benefits awareness, engagement and utilization to deliver the right message about the right benefit at the right time. Visit www.goevive.com to learn more.

Media Contact: 
Zoya Siddiqui 
Senior Director, Marketing 
zsiddiqui@bswift.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/bswift-acquires-evive-launches-integrated-personalized-engagement-platform-302307016.html

SOURCE bswift LLC

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