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iSON Xperiences Commended by Frost & Sullivan for its Rapid Growth in the African BPO Market

Vlad Poptamas

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Based on its recent analysis of the African business process outsourcing (BPO) market, Frost & Sullivan recognises iSON Xperiences with the 2019 African Company of the Year Award for its focus on developing the domestic African BPO markets. It has grown to be almost five times the size of its nearest competitor in Africa in terms of revenue and head count. The company believes that Africa can match India’s competency in BPO, IT, and ITES through high employment generation, greater focus on skills training and development, aggressive capacity building, and direct government intervention.

“iSON is bolstering its high-tech capabilities in digital areas such as analytics and Artificial Intelligence (AI) as well as fostering human talent that can implement the latest tech solutions,” said Frost & Sullivan analyst Stephen Loynd. “The company is extremely knowledgeable about its clients and the specific objectives they have in terms of operations and in achieving the best possible CX. And it appears that iSON is well-poised to replicate its telecom industry success in other industry verticals.”

iSON grew from a single-country, single-sector provider into a multi-sector company with core expertise and capabilities in telecom, banking & financial services, government, retail, education, manufacturing, and oil & gas. It evolved very early from a call center services provider to an end-to-end customer experience partner that aims to offers a seamless experience to end customers. Headquartered in Dubai, it has regional headquarters in Nairobi, KenyaLagos, NigeriaCairo, EgyptDurban, South Africa; and New Delhi, India, with support from 18,000 employees in 30-plus centers across 16 countries.

iSON’s platform is enabled for advanced digital capabilities such as AI-based chatbots with multi-channel integrations, and robotic process automation (RPA). It also features Big Data and social media analytics services as well as voice biometrics and speech analytics capabilities. The efficiency of its operations allow it to deliver a high level of omni-channel customer experience management (CEM). Meanwhile, it provides manual, assisted, and automated customer experience through voice and non-voice formats. Significantly, it offers services in locations that have not been tapped by other providers. For example, the company offers French clients services in the Democratic Republic of Congo (DRC), Chad, and Madagascar. These countries can generate as much as 30 percent cost savings and service levels comparable with centres in MoroccoAlgeria, and Tunisia.

“iSON’s brand continues to grow in prominence. No other provider in this space is as closely associated with the ‘Africa Rising’ story as iSON Xperiences is,” added Stephen Loynd. “The company is uniquely present all across the African continent — in Burkina FasoGhanaKenyaLiberiaMalawiNigerNigeriaRwandaSouth SudanSouth AfricaTanzaniaUganda, and Zambia. And it obviously takes pride in promoting local talent. This company’s strategy, along with its technology-based growth, has positioned it for further success.”

Each year, Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies, and the resulting leadership in terms of customer value and market penetration.

Frost & Sullivan Best Practices awards recognise companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.

 

SOURCE Frost & Sullivan

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Fintech

Wirex Launches Enhanced Cryptoback™

Vlad Poptamas

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Today, payments platform Wirex launched a supercharged update of their revolutionary Cryptoback rewards programme. Customers can now earn up to 1.5% back in Bitcoin on Wirex Visa card purchases.

Released in 2018, Cryptoback™ was the world’s first rewards programme that paid out 0.5% in cryptocurrency for all in-store spending with the Wirex Visa card. Thanks to the recent launch of the Wirex Token (WXT), customers can now triple the amount of BTC they earn – making investing in cryptocurrency easier than ever before.

Depending on the amount of WXT held, in-store Wirex card purchases now generate up to 1.5% in Bitcoin. There are three levels of crypto rewards available:

  • 500,000 WXT = 1.5% Cryptoback
  • 100,000 WXT = 1.0% Cryptoback
  • 50,000 WXT = 0.75% Cryptoback

Wirex have calculated that the average UK consumer stands to earn more than £300 in Cryptoback™ every year, just by using their Wirex Visa card for day-to-day spending. Unlike many other cashback programmes, Wirex doesn’t impose restrictions on what customers can do with their rewards. Cryptoback™ can be redeemed instantly into their Bitcoin accounts, or quickly and easily exchanged into fiat for spending.

Enhanced Cryptoback™ is just one of the ways that holding Wirex Tokens allows customers to get even more out of their account. They can also enjoy heavily discounted fees based on the same structure, with access to premium products, merchant offers and airport lounges coming soon. As Wirex co-founder Pavel Matveev explains:

“We created the Wirex Token to be something that provides tangible value and benefits for holders beyond its market trajectory. Enhanced Cryptoback™ is the perfect example of this, as it allows customers to earn and invest in digital currency with a minimum of fuss. We’re looking forward to introducing even more benefits for WXT holders soon.”

 

SOURCE Wirex

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Aegis Capital Corp. is pleased to announce its commitment to Equity Research

Vlad Poptamas

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Aegis Capital Corp. continues to expand its equity research platform with the addition of Benjamin Zucker and James Jang. Benjamin joined in May 2019 as Head of Specialty Finance and James joined in June 2019 to head up the Maritime & Special Situations. These new coverage areas will bolster Aegis’ existing research footprint in the Internet/TMT and Healthcare sectors.

Mr. Zucker joined Aegis from BTIG LLC, where he was a Director and lead analyst covering Mortgage REITs and real estate finance companies. Prior to BTIG, Mr. Zucker was a Vice President at JMP Securities LLC where he covered similar sectors. Benjamin began his career in equity research at Pritchard Capital Partners. At Aegis, Mr. Zucker’s coverage will span across several Specialty Finance sub-sectors including Mortgage REITs, Equity REITs, Business Development Companies (BDCs) and Financial Technology firms (FinTech). Benjamin’s current coverage list includes: Medalist Diversified REIT (MDRR), Sachem Capital Corp. (SACH), and Saratoga Investment Corp. (SAR).

Mr. Jang joined Aegis from Maxim Group LLC, where he was a Senior Vice President and lead analyst covering the Industrials, Infrastructure and Clean-Technology sectors. Previously, Mr. Jang was a senior analyst at Sidoti & Co. covering furniture and textiles and was an equity research associate at Canaccord Genuity covering Maritime and Upstream E&P companies. Since joining, Mr. Jang has expanded Aegis’ research platform into the Agriculture, Oilfield Services, and Industrial Technology sectors with coverage of Profire Energy (PFIE), Marrone Bio Innovations (MBII), Yield10 Bioscience (YTEN) and Sigma Labs (SGLB).

Michael Pata Aegis’ Head of Business Development commented: “Hiring Benjamin and James continues to show Aegis’ commitment to equity research, which brings institutional quality analysis to the small and mid-cap universe.”

 

SOURCE Aegis Capital

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LexinFintech Announces US$300 Million Private Placement of Convertible Notes with PAG

Vlad Poptamas

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LexinFintech Holdings Ltd. (NASDAQ: LX) (“Lexin” or the “Company”), a leading fintech platform for educated young adults in China, today announced that it has entered into a convertible note purchase agreement with PAG, a leading Asia-focused private equity firm with over US$30 billion in capital under management, pursuant to which the Company will issue and sell convertible notes in an aggregate principal amount of US$300 million to PAG through a private placement. The private placement is subject to satisfaction of customary closing conditions and is expected to close on or around September 16, 2019. The gross proceeds raised from this placement will be approximately US$296.4 million.

The convertible notes will mature in seven years, bearing interest at a rate of 2.0% per annum. The notes will be convertible into fully paid Class A ordinary shares of the Company or ADSs at a conversion price of US$14 per ADS at the holder’s option from the date that is six months after the issuance date.  The holder of the notes will have the right to require the Company to repurchase for cash all or any portion of the notes on the fourth anniversary of the issuance date.

At closing, the Company will appoint to its Board of Directors one person designated by PAG.

Mr. Jay Wenjie Xiao, Founder, chairman and chief executive officer of the Company, said, “We are excited to have PAG as our new investor. This investment will enable Lexin to further develop and enhance our consumption-based ecosystem, improve product offerings to our educated adult customers, continue to invest in technology, build up additional consumption scenarios, and provide more consumer benefits to our customers.”

“PAG has a strong commitment to and deep understanding of China’s financial services industry, and we have a demonstrated track record of seeking out and engaging with the industry’s leading companies,” said PAG Chairman & CEO Weijian Shan. “Lexin has an unparalleled platform for meeting young consumers’ credit needs while strictly controlling and minimizing credit risks, which makes it unique, and we are looking forward to supporting the company as it embarks on its next stage of growth.”

Goldman Sachs (Asia) L.L.C., BofA Merrill Lynch and China Renaissance acted as the private placement agents to Lexin on the transaction.

 

SOURCE LexinFintech Holdings Ltd.

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