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New Global Banking-as-a-Service Report by Brankas Gives Consumers A Glimpse Into The Future of Financial Services

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 The whitepaper explores how Banking-as-a-Service (BaaS) is revolutionizing traditional banking models, enabling customers and businesses to experience financial services in a decentralized way, known today as embedded finance.

DUBAI, Sept. 18, 2024 /PRNewswire/ — Brankas today launched a whitepaper titled Banking-as-a-Service: Rearchitecting Financial Services Landscape. The whitepaper details the many ways Banking-as-a-Service (BaaS) is changing traditional banking models around the world, enabling customers and businesses to experience financial services in a decentralized way, known today as embedded finance.

Key BaaS trends highlighted include:

Rapid Expansion of BaaS-Powered Products: Beyond payments, BaaS is enabling innovative products like high-yield deposit accounts, BNPL, merchant cash advance, expense cards, merchant financing for eCommerce and restaurant merchants, and digital wallets.BaaS as the Foundation for Embedded Finance: BaaS is empowering fintechs and embedded finance companies across various sectors, from lending and insurtech to telco and travel.Diversification of Revenue Streams: BaaS provides banks with new revenue streams through API fees, service charges, and co-branded product offerings with FinTech partners and non-traditional players.Better banking for SMBs: BaaS significantly benefits small and medium-sized businesses (SMBs) by integrating financial services directly into the business and operational platforms they use to run their enterprises. Banks can then more effectively serve SMBs.

Exploring the varying BaaS maturity of regions including North America, Europe, Africa, and the Middle East, Brankas points out the tech enablers and regulated banks in each region. In the Middle East, for instance, regulators like the Saudi Arabian Monetary Authority (SAMA), the Central Bank of the UAE (CBUAE), and Banking Regulation and Supervision Agency (BRSA) in Turkey are taking proactive steps to foster a robust BaaS ecosystem. Initiatives include granting permits to BNPL providers and mandating licenses for BNPL services, reflecting a commitment to supporting responsible innovation and consumer protection.

A notable example of BaaS in action is the partnership between Amazon and ICICI Bank in India. The co-branded credit cards offered through this partnership features no cashback cap on transactions, a fully digital video verification (KYC) process, and delivery of the physical card within 5-7 days. Altogether, these contributed to the card’s immense popularity, attracting over 1 million customers within 20 months of launch.

From retailers like Samsung offering credit cards and ride-sharing apps facilitating microloans for drivers to Shopify providing money management services for its merchants, embedded finance represents the visible portion of financial services as experienced by customers through non-banking platforms. It allows users to discover, evaluate, and consume financial services seamlessly integrated into their everyday digital experiences.

To download a copy of the whitepaper, please visit the download page here.

About Brankas

Brankas is a leading global open finance technology provider. We provide API-based solutions, data and payments solutions for financial service providers (like banks, lenders and e-wallets) and online businesses. Brankas partners with banks to build and manage their open finance compliance solution, producing APIs for real-time payments, identity and data, new account opening, remittances, and more. With Brankas’ secure open banking technology, online businesses, fintech companies and digital banks can use Brankas APIs to create new digital experiences for their users.

Media contact:

Yiyang Teo
yiyang.teo@brank.as 
+65-96619686

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WorldSkills Lyon 2024: Talented Winners, Long-lasting Legacy

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LYON, France, Sept. 19, 2024 /PRNewswire/ — After an intense week of competition, the 47th WorldSkills Competition has officially wrapped up, marking the end of a thrilling journey for 1,400 young professionals from around the globe. For four days, participants representing nearly 70 countries and regions competed fiercely in 59 diverse skill areas, transforming Lyon’s Eurexpo into a vibrant hub of craftsmanship and international talent.

From day one, the atmosphere was charged with energy as competitors showcased their expertise in sectors ranging from Manufacturing and Engineering to Fashion, Digital Technology, and Healthcare. The level of dedication and precision demonstrated throughout the week was a testament to the profound commitment these young professionals have to their trades, as well as their determination to showcase their nation’s worth on the global stage.

Last night, the closing ceremony of WorldSkills Lyon 2024, held at Groupama Stadium, brought the event to an emotional close with the announcement of medalists in each skill category. Four medals were awarded in each skill: Gold Medal, Silver Medal, Bronze Medal, and the Medallion for Excellence. This ceremony underscored the core belief of the WorldSkills movement: excellence is found in diversity – diversity of profiles, backgrounds, expertise, and techniques.

The list of medalists is now available. Visit https://worldskills.org/what/competitions/worldskills-lyon-2024/#results to discover the winners!

What’s next?

The impact of WorldSkills Lyon 2024 extends far beyond the event itself. As the competition unfolded, and millions of people followed it in person or through media, WorldSkills Lyon 2024 spotlighted the crucial role of vocational education in today’s world and in shaping our shared future. By celebrating excellence, the competition highlighted the incredible ability of youth to drive the change our world needs through their energy and dedication. The legacy of this event lies in every vocation it has sparked and every future career it has inspired. This 47th edition has once again shown the world that where there is skill, there is a way.

Media Contacts: 
Alice Nahon
PR Officer
alice.nahon@publicis.com 

Anne-Laure TRONC
Press Relation Manager
media@worldskillslyon2024.com 

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LG NOVA EXPANDS EFFORTS TO DRIVE INNOVATION GROWTH THROUGH NEW PARTNER ALLIANCE PROGRAM

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New Program Connects LG, Strategic Partners and Startups to Ignite Collaboration and Development of Innovative Ideas for a Better Future

SANTA CLARA, Calif., Sept. 19, 2024 /PRNewswire/ — LG Electronics today announced the launch of the LG NOVA Partner Alliance Program – a platform that brings together corporate partners and startups for cross-industry collaborations, technology and business development, and commercial partnerships to catalyze the growth of innovations for the future.

Spearheaded by LG NOVA, LG Electronics’ North America Innovation Center, the Program extends the success of LG NOVA’s mission to co-create new ventures with startups to its corporate partners with the goal to encourage exponential growth of new innovations in the market by creating more pathways for innovative ideas to flourish at a greater rate.

Joining the Partner Alliance Program at launch are Fujitsu Research of America, Hyundai CRADLE, IBM, Mayo Clinic Innovation Exchange, Niantic and the West Virginia Department of Economic Development. These organizations have all signed on to work with LG NOVA and its extensive startup ecosystem to generate and explore new concepts; develop, test, and validate those concepts; and collaborate on innovative product solutions or even co-create new businesses. Additional partners will be added to the Partner Alliance Program in the coming months.

“The new Partner Alliance Program aligns with our core mission to collaborate and create an ecosystem for startups to thrive and ensure that the innovations today become the market-leading solutions of tomorrow,” said Dr. Sokwoo Rhee, corporate executive vice president for Innovation, LG Electronics and head of LG NOVA.

Kevin Chong, LG NOVA’s head of corporate and business development, said, “This program is a win-win for all parties, including LG, as we continue to explore new ideas for business co-creation. The growth of new ideas and cross-industry collaboration will help the markets move forward faster towards a better future that benefits all of us, businesses, people and the planet.”

In bringing on corporate partners to its Program, LG NOVA is helping to create more opportunities for startups to find quintessential industry partners that will help it reach commercial success at a larger level, Chong explained. For the corporate partners, finding innovative startups to work with will help them address new market opportunities, extend their businesses into new areas and better address the changing needs of their customers. 

The Partner Alliance Program will leverage the resources of LG Electronics existing business units while also tapping into the pipeline of startups and resources available through the LG NOVA’s Mission for the Future initiative – a broad umbrella of programs designed around engaging with the entire innovation ecosystem to explore ideas on creating a better future through collaboration and tech innovations.

LG NOVA and the newly announced partners in the Partner Alliance Program plan to share more about their goals and vision for this program at the 2024 LG NOVA InnoFest, Sept. 25-26, at the Palace of Fine Arts in San Francisco, Calif.

LG NOVA’s annual InnoFest conference unites business leaders, innovators and investors to collaborate on solutions for a better future, this year, under the theme of “Lighting the Halo of Innovation,” inspiring attendees to focus on impactful co-creation and bold ideas. For more information about this year’s event visit https://innofest.lgnova.com/

About LG NOVA
LG NOVA, the North America Innovation Center for global innovation leader LG Electronics, is a team focused on bringing innovation from the outside to LG. LG NOVA is based in Santa Clara, Calif. The center’s mission is to fuel innovation for LG and its partners by establishing a community to create, nurture and grow businesses. Learn more about LG NOVA at www.lgnova.com.

About LG Electronics USA
LG Electronics USA, Inc., based in Englewood Cliffs, N.J., is the North American subsidiary of LG Electronics, Inc., a $60-billion-plus global innovator in technology and manufacturing. In the United States, LG sells a wide range of innovative home appliances, home entertainment products, commercial displays, air conditioning systems, energy solutions and vehicle components. LG is an 11-time ENERGY STAR® Partner of the Year. www.LG.com.

Media Contact:

LG Electronics USA

Linda Quach
+1 408 903 3045
linda.quach@lge.com

Partners & Quotes

Fujitsu Research of America

“We are excited to join LG NOVA in the Partner Alliance Program to explore new collaboration opportunities with them. LG NOVA approach to innovation and the Partner Alliance Program is a meaningful way for organizations from across different market sectors to come together and innovate,” said Takuto Komatsuki, Senior Director at Fujitsu Research of America.

About Fujitsu Research of America

Fujitsu Research of America is focused on developing cutting-edge technologies to solve digital transformation (DX) challenges faced by its customers. Its vision is to build a sustainable world through innovation and trusted partnerships. At Fujitsu Research of America (FRA), we have a myriad of very talented people working in a variety of areas – AI with transparency and ethics, social digital twin, web 3.0 technologies, quantum algorithms, and much more.

About Hyundai CRADLE

Hyundai CRADLE for Human-centered Mobility Innovation

Hyundai CRADLE is Hyundai Motor’s corporate venturing and open innovation business, which partners and invests extensively in prominent global startups to accelerate the development of advanced future automotive technologies. CRADLE identifies newly established startups that focus, amongst others, on ‘Disruptive Innovations.’

About IBM

IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. More than 4,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM’s long-standing commitment to trust, transparency, responsibility, inclusivity and service.

Visit www.ibm.com for more information.

Mayo Clinic Innovation Exchange

“We look forward to collaborating with the LG NOVA team to share our expertise in healthcare innovation and to explore new opportunities with startups seeking to improve patient care and health outcomes.” said Jennie Kung, Vice Chair of the Mayo Clinic Innovation Exchange.

About The Mayo Clinic Innovation Exchange

The Mayo Clinic Innovation Exchange is a dynamic platform designed to accelerate healthcare innovation and foster collaboration among the global healthcare community. Leveraging Mayo Clinic’s world-class expertise and resources, the Innovation Exchange bridges the gap between emerging technologies and clinical practice, research, and education to bring breakthrough innovations to market, all for one shared mission—to benefit patients.

Niantic

“We see a great opportunity for entirely new spatial experiences leveraging AI and our 3D map
technology, tools and services to come to the forefront in the near future. We’re glad to see the
LG NOVA Partner Alliance program launch, as it has the potential to lead us to greater
collaboration across the growing ecosystem,” said Maryam Sabour, Director of Business
Development and Strategic Partnerships Lead at Niantic. 

About Niantic

Niantic’s global-scale augmented reality platform and digital map power spatial computing experiences in the real world. Incubated out of the Maps team at Google, Niantic first created Ingress and then Pokémon GO, a collaboration with The Pokémon Company, which has become a cultural phenomenon and hit game played by tens of millions of people each month. Niantic’s maps platform, which powers Pokémon GO, also supports the company’s other games and applications including Pikmin Bloom, Peridot, Monster Hunter Now and Niantic Scaniverse. Niantic’s mapping, AR and mixed reality platforms, tools and services are used by thousands of developers around the world. 

West Virginia Department of Economic Development

West Virginia’s Department of Economic Development is eager to collaborate with LG NOVA through the new Partner Alliance program,” said West Virginia Department of Economic Development Executive Director, Mike Graney. “We look forward to strengthening our relationship with LG and engaging with the businesses throughout West Virginia.”

About the West Virginia Department of Economic Development

There is no better place to build and grow a business in the Eastern United States than West Virginia. The West Virginia Department of Economic Development’s mission is to improve the quality of life for all West Virginians by strengthening our communities and expanding the state’s economy to create more and better jobs.

 

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SOURCE LG Electronics USA

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Behr Paint Company Hosts First Student Design Competition

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Design students encouraged to enter for a chance to win $3,000, plus $1,000 for their design school

SANTA ANA, Calif., Sept. 19, 2024 /PRNewswire/ — Today, Behr Paint Company announces its first-ever BEHR® Student Design Competition in partnership with MattoBoard, a 3D virtual sampling platform for designers. The competition is open starting today, September 19, through November 10, 2024, for full-time or part-time emerging professional design students.* 

Behr Paint invites design students to submit an original design plan for any commercial space such as hospitality, workplace, healthcare, multifamily and more. The design theme, “No Clear Boundaries,” draws inspiration from the BEHR 2025 Commercial Color Forecast, which celebrates the fluidity between designed environments that reflect the intersection of the past and future, digital and physical, and timeless and modern. Entrants must incorporate colors from the BEHR 2025 Commercial Color Forecast in their design along with BEHR’s 2025 Color of the Year, Rumors, a deep and timeless shade of ruby red. 

The competition was created to champion emerging designers by providing specialized resources and opportunities to showcase and celebrate their talents. “As a judge of the BEHR Student Design Competition, I am excited to see how each student embraces color and design,” said Erika Woelfel, Vice President of Color & Creative Services at Behr Paint Company. “At Behr, we are committed to supporting the careers of the next generation of designers, and I look forward to seeing the students’ creativity shine through.”  

The judging panel will also include Guy Adam Ailion, Architect and CEO / Co-Founder of MattoBoard; Kayla Kratz, Director of Color & Designer Segment at Behr Paint Company; and Amber Jones, Director of Architect & Designer Strategic Initiatives at Behr Paint Company.

The winner of the 2024 BEHR Student Design Competition will be awarded a $3,000 cash prize and $1,000 for their design school. The runner-up will receive a $1,500 cash prize, and the second runner-up will receive a $500 cash prize. All winners will also receive a 1-year MattoBoard Pro Subscription to continue using the platform for their design needs. Winners will be announced in December 2024 and will be featured on BEHR’s and MattoBoard’s social channels, blog, and email.

To learn more about the 2024 BEHR Student Design Competition and how to enter, visit www.behr.com/designcompetition.

*NO PURCHASE NECESSARY. PURCHASE WILL NOT IMPROVE OPPORTUNITY TO WIN.
INTERNET AND MATTOBOARD ACCOUNT REQUIRED. Trade contest offered in the 50 U.S. & U.S. Territories (“U.S.”) to full/part-time emerging Design students at U.S. eligible Institution (see Rules) who are legal U.S. res., 18+. Ends 11:59 P.M. PT 11/10/24. See Official Rules at: www.behr.com/designcompetition for entry, judging criteria and limitations. Void where prohibited. Sponsor: Behr Process LLC.

About Behr Paint Company
Founded in 1947, Behr Paint Company is one of the largest manufacturers of paints, primers, decorative finishes, stains, surface preparation and application products for do-it-yourselfers and professionals in the United States, Canada, and Mexico. The Santa Ana, Calif.-based company, and maker of BEHR®, KILZ® and WHIZZ® brands, are dedicated to meeting the project needs of DIYers, designers and professional paint contractors with an unwavering commitment to quality, innovation, and value. For more information, visit Behr.com. Professional paint contractors and designers can visit Behr.com/Pro to learn about products, color tools and services. Behr Paint Company is a subsidiary of Masco Corporation (NYSE: MAS).

Behr and the Behr logo are registered trademarks of Behr Process LLC.

About MattoBoard
MattoBoard is the first virtual sample library (VSamples©) and 3D moodboarding tool for interior designers. Designers can search, discover, curate and specify interior materials and products in real-time using light and shadow to examine texture and detail. Designers can download and share beautiful, photo-realistic boards and material spec sheets. MattoBoard’s mission is to bring a ‘touch and feel’ industry into the future by pioneering virtual sampling for designers and brands.

Media Contact: behrpro@mbooth.com 

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SOURCE Behr Paint Company

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