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Fintech

Fintech Makes First Strategic Acquisition with Purchase of Lilypad Solutions, LLC

Vlad Poptamas

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Photo source: forbes.com
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Financial Information Technologies, LLC (“Fintech”), the leading business solutions provider for the beverage alcohol industry, today announced that it has acquired Lilypad Solutions, LLC, the alcohol industry’s ultimate sales platform. The strategic acquisition enhances Fintech’s unique technology offerings, expands its expertise and broadens its client base nationwide.

Fintech created the first electronic payment tool for alcohol purchasing in 1991, and has since grown to provide a progressive, integrated platform that streamlines processes and improves operations at every stage of beverage alcohol management for thousands of clients across the country. The company’s portfolio of products equips organizations that sell alcohol with dynamic resources to improve business efficiencies. Together, Fintech’s complete, technology-driven platform and Lilypad’s dynamic sales tools will provide a comprehensive solution to all industry participants.

“We are pleased to add Lilypad’s quality services and robust client roster to our existing portfolio, and we look forward to working with Lilypad co-founders, CEO Eric Rabinovitz and CTO Pete Ladis,” said Tad Phelps, President of Fintech. “This acquisition further validates Fintech’s commitment to our clients, and will allow us to combine our industry-leading, actionable data with Lilypad’s innovative sales tools to provide invaluable solutions to the supplier market. It also expands our professional network of employees, and lays the foundation for expansive growth for both companies through new product innovations and other strategic advancements.”

Since 2014, Lilypad Solutions has served suppliers and distributors with a focus on empowering sales teams, improving cross-tier communication, and creating data insights that promote growth. Today, Lilypad partners with hundreds of beverage alcohol companies and remains committed to expanding product offerings that streamline sales processes and maximize client profitability.

“Lilypad originated from a desire to solve problems for distributed sales teams. Our early adopters included many of the top brands in beverage alcohol who helped hone our product to meet the unique challenges faced by those selling in the three-tier system,” said Eric Rabinovitz. “We’re extremely proud and honored to continue our journey with Fintech. Together, we will accelerate our existing platform’s growth while delivering new technologies that improve the way our clients operate in a hyper-competitive market.”

The acquisition, which is a first for Fintech, was completed in the first quarter of 2019. Eric Rabinovitz will join the Fintech executive team and both Fintech and Lilypad Solutions will continue with their normal day-to-day operations as the partnership develops further.

 

SOURCE Fintech

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Fintech

Folio Financial a Finalist for Investment News 2019 Innovation Award for Digital Wealth Platform and How It Transforms Online Investing for Advisors and Their Clients

Vlad Poptamas

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Folio Financial announced today that it was a finalist for the Investment News 2019 Innovation Award for its Digital Wealth Platform (DWP), in the first year the award has been given to firms. This award recognizes firms that demonstrate original approaches to the opportunities and challenges facing the financial advice profession, as well as innovations that improve how financial advisors take care of their clients, run their businesses and improve client outcomes.

DWP is a next-generation platform offering the essential building blocks for financial advisors to deliver intelligent and personalized digital investment experiences to all types of investors, at a lower cost. DWP provides a unified solution to manage and extend a firm’s digital wealth management strategy. Whether a firm’s growth strategy includes a standalone robo advisor to reach a broader range of retail investors or an infusion of digital automation to improve advisor productivity, with DWP, firms can:

  • Maintain Complete Ownership of the Client Relationship – No more outsourcing digital advice business to third-party robo providers. DWP puts total ownership of the client relationship back into the firm’s hands.
  • Deliver Personalized, Automated Investment Advice – Fully automate the creation and management of custom-tailored, diversified portfolios developed from the ground up to support client goals—allowing firms to deliver greater levels of personalization throughout every step of the investment journey.
  • Ensure Consistency of Advice Across Channels – DWP is fueled by each firm’s unique advice methodology, investment strategies, capital market assumptions and preferred investment products to ensure consistency of advice across channels.
  • Manage Multiple, Complex Investment Programs from One Solution – Fully automate the creation and management of desired investment strategies—from model-based portfolios and managed ETF and/or fund programs to more personalized multi-manager strategies or bespoke, equity-based portfolio creation.
  • Streamline Operations – Complete automation of key touchpoints and operational tasks. From real-time, paperless onboarding, secure money movement and automated portfolio management to streamlined workflows, branded client communications and more, all designed to create a seamless, digital investment experience.

“We are honored that Investment News recognized Folio’s innovation, as well as the many ways our Digital Wealth Platform helps advisors serve their clients and grow their business,” said David Hagen, Folio’s Vice President of Digital Wealth. “DWP is a continuation of Folio’s long history of delivering cutting-edge and scalable brokerage and custody technology to RIAs. Folio was one of the first to offer advisors completely paperless, streamlined account opening, bank-link creation and funding – and to also provide advisors with online trade confirmations, statements, performance reporting, tax documents and proxy voting services.”

Modular in design, DWP is available as a white-labeled, customizable solution or through a robust suite of APIs that offer advisors complete control of the client experience.

 

SOURCE Folio Financial

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Fintech growing strong in Delaware

Vlad Poptamas

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Delaware Governor John Carney, speaking to the state's foundation in financial services at the release event for "Delaware in a Fintech Future," a collaborative analysis about the state's leadership in the evolving sector.
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Delaware in a Fintech Future, a report highlighting Delaware’s role in the rapidly changing financial services industry, was released today. The report, researched and authored by the Delaware Prosperity Partnership, First State Fintech Lab and the University of Delaware’s Institute for Public Administration, details the latest developments and fast-moving technological innovation in financial services.

With brand power that includes JPMorgan Chase, Capital One, M&T Bank, WSFS Bank, and Citibank, the talent pool in banking and financial services has grown exponentially and accounts for 9% of all jobs in Delaware, the highest share of any U.S. state.

And now, in addition to being a destination location for traditional banking, fintech companies from around the world are choosing Delaware.  Examples include Irvine, California-based Acorns, which opened a satellite operation at The Mill in Wilmington, DelawareDelaware-based Fair Square Financial, which recently expanded and moved into a 22,000 square-foot facility in Wilmington, Delaware; and Marlette Funding, which is expanding and creating 200+ new jobs and making a $7.5M capital investment in New Castle County, Delaware.

Defining the fintech sector can be complicated, according to John Taylor, Director of Economic Research at the Delaware Prosperity Partnership.

“Some are referring to fintech as a standalone new industry,” Taylor said. “Certainly, the term is relatively new, but a closer look suggest that all financial services companies are becoming fintech companies, including the well-established incumbents as well as early-stage startups.”

No matter how broad or narrow the definition, Delaware is becoming the location-of-choice for financial and business services.

Fast Facts:

  • Delaware has the highest relative concentration of financial services jobs of any U.S. state. Among U.S. counties, New Castle County ranks third.
  • Since 2009, nearly 200 fintech patents were assigned to Delaware-based individuals and companies, ranking first in the United States on a per capita basis, and fifth in absolute terms.
  • Finance accounts for more than one-fifth of our state’s GDP, the largest contribution of any sector.
  • Delaware has been a magnet for out-of-state direct investment by financial services firms in recent years, with $725 million invested since 2010. Wilmington is the leading destination in our region for this investment.

“We should think of fintech as the next wave of innovation in banking,” says Taylor. “Advances in machine learning and data analytics are enabling new ways for consumers to access financial services.”

 

SOURCE Delaware Prosperity Partnership

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Uplandme, Inc. raises seven figures for a new property trading game

Vlad Poptamas

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Upland Logo Screenshots
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Uplandme, Inc. has closed a financing round, which was led by Finlab EOS VC Fund and with the participation of several angel investors. FinLab EOS VC Fund is a venture capital fund backed by both Block.one, the publisher of the blockchain protocol EOSIO, and FinLab AG, one of Europe’s largest company builders and investors focused on financial services technologies.

The funds will be used to support the initial development and launch of Upland, a digital property trading game that blurs the boundaries between real and virtual worlds. Players buy, sell, and trade properties based on real-world addresses. An in-game currency called UPX will power the economy of Upland. Players will be able to complete property collections, use location-based features and trade their properties on a marketplace.

“We invested into Uplandme, Inc. because we like the genuine idea of a virtual property market powered by the EOS Blockchain and the very experienced and passionate team behind it,” said Stefan Schuetze, Managing Director of FinLab EOS VC Fund. “Blockchain and specifically EOSIO allows the creation of completely new game mechanics that were not possible before.”

We are excited to work with Uplandme, Inc. as we believe they present a very unique and differentiated concept and that gaming and digital collectable companies, such as Uplandme, Inc., are a great application of Blockchain technologies, in particular EOSIO,” commented Paul Grotowski, COO of EOS VC.

“We have chosen the EOSIO blockchain software because it offers the best foundation to create a strong casual gaming experience where players engage quickly and can continuously enjoy the game without the hassle and need to understand today’s complicated world of Blockchain. We are excited to work with Finlab and EOS VC to leverage their EOSIO background and financial expertise which are very important for us as we build out Upland,” said Dirk Lueth, Co-founder of Uplandme, Inc.

 

SOURCE Uplandme, Inc.

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