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I-Bytes Engage & Enable

Financial Services & Insurance


September Edition

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Aim of this IByte

This document brings together a set of latest data points and


publicly available information relevant for Financial Services and
Insurance Industry. We are very excited to share this content and
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Table of Content s

1. Financial Updates.....................................................1

2.Solutions Updates....................................................17

3.Rewards and Recognition Updates........................29

4.Customer Success Updates.....................................38

5.Partnership Ecosystem Updates............................42

6.Miscellaneous Updates...........................................50

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Financial, M&A Updates from


Financial Services & Insurance
Industry

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Allianz reports strong profitability in 2Q 2019, operating


profit outlook for full-year confirmed

Key Financial Highlights


1
• Internal revenue growth of 4.1 percent in 2Q 2019
• Total revenues increased 6.1 percent to 33.2 billion euros.
• Operating profit up 5.4 percent to 3.2 billion euros
• Net income attributable to shareholders up 13.1 percent to 2.1 billion
euros
• Operating profit at 6.1 billion euros reaches 53 percent of full-year
outlook midpoint
• Net income attributable to shareholders rises 7.3 percent to 4.1 billion
euros
• Solvency II capitalization ratio at 213 percent at the end of 2Q 2019
compared to 218 percent at the end of 1Q 2019
• Operating profit outlook for 2019 confirmed at 11.5 billion euros,
plus or minus 500 million euros

Executive Commentary

“I am proud that the Allianz team has once again


delivered a healthy performance,” said Chief
Executive Officer of Allianz SE. “Sustainable
performance is the result of our rigorous strategy
execution that provides desired solutions for our
customers. Our half-year results testify that Allianz
is on track to achieve its full-year targets.”
For more details, please click the link below:
https://www.allianz.com/en/press/news/financials/business_results/190802_Allianz-2Q-2019-financial-results.html

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Half Year 2019 Earnings: Disciplined execution and delivery

Key Financial Highlights


2
• Total revenues* up 4% to Euro 57.9 billion
• Underlying earnings** up 7% to Euro 3.6 billion
• Underlying earnings per share** up 10% to Euro 1.46

Executive Commentary
CHIEF EXECUTIVE OFFICER OF AXA: “AXA continued to deliver strong
operating performance, with a +4% growth in revenues and a +10% increase in
underlying earnings per share in the first half of 2019.AXA’s earnings benefitted
from a virtuous double dynamic, both growing volumes and improving
profitability across all our geographies and preferred segments.AXA XL had a
great first half with continued and disciplined growth in revenues and a solid
contribution to the Group’s earnings. Synergies are materializing well, and AXA
XL should benefit from the increasingly positive pricing context.AXA is very
well advanced on its transformation journey. The Group has reduced its
sensitivity to financial markets, created the #1 Global P&C Commercial lines
insurance platform and strengthened its position as a world leader in Health
insurance. We also further advanced in our Payer to Partner strategy by
launching our own medical centers, notably in Mexico and Egypt, with the aim
to simplify and enhance the healthcare journey of our customers.I would like to
thank all our colleagues and partners for their critical role in the execution of our
transformation, as well as our clients for their continued trust.”
For more details, please click the link below:
https://www.axa.com/en/newsroom/press-releases/half-year-2019-earnings-disciplined-execution-and-delivery

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Royal Bank of Canada reports third quarter 2019 results

Key Financial Highlights


3
• Net income of $3,263 million for the quarter ended July 31, 2019, up
$154 million or 5% from the prior year.
• Diluted EPS growth of 6%. Results reflected strong earnings growth in
Personal & Commercial Banking, Wealth Management and Insurance.
• Capital position remained strong with a Common Equity Tier 1 (CET1)
ratio of 11.9%, up 10 bps from last quarter.
• Increase quarterly dividend of $0.03 or 3% to $1.05 per share.

Executive Commentary

“Our focused strategy and diversified business mix continue to


deliver strong returns for our shareholders as we leverage our
scale and investments in technology to create new value streams
for our clients. This commitment is underpinned by the strength
of our balance sheet, disciplined risk and expense management,
and the power of imagination and insight our people deliver
every day. RBC is well-positioned to further grow our market
share and navigate the evolving market environment.” RBC
President and Chief Executive Officer.
For more details, please click the link below:
http://www.rbc.com/newsroom/news/2019/20190821-q3-results.html

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2Q19 RESULTS: A WELL-BALANCED BUSINESS MODEL TO


NAVIGATE THE CURRENT ENVIRONMENT

Key Financial Highlights


4
• Reported net income at €346m in 2Q19 and €1.1bn in 1H19
• Financial strength with a Basel 3 fully-loaded CET1 ratio1 at 11.5%, well above our
2020 target (11%)
• Organic capital creation of 38bps in 2Q19. Basel 3 FL CET1 ratio1 at 11.5% as at
June 30, 2019, well above our 2020 target (11%)
• Underlying net income2 at €363m in 2Q19 and €555m in 1H19, despite an elevated
cost of risk (63bps in 2Q19 and 43bps in 1H19)
• Underlying RoTE2 at 9.6% in 2Q19 and 10.8% with a normalized cost of risk of
30bps

Executive Commentary
Natixis Chief Executive Officer, said: “Natixis recorded solid results across all its businesses in the
second quarter of 2019. Our diversified and balanced business model proves, once again, its worth
in an uncertain economic environment. In Asset & Wealth Management our multi-boutique model
demonstrated its robustness. Revenues and assets under management both continued to rise despite
outflows at H2O and with net flows in the United States turning back positive. We also announced
our ambition to create a 100% SRI-compliant European leader in insurance-related fixed income
asset management with La BanquePostale. In Corporate & Investment Banking, we enjoyed
sustained performances, including in our capital markets activities despite a less favorable
environment than last year to which we notably adapt through tighter cost control. In Insurance and
Payments, we continued to combine strong growth with a positive jaws effect. We further bolstered
our capital position with our CET1 standing at 11.5%, above our 2020 objective.”

For more details, please click the link below:


https://pressroom-en.natixis.com/news/2q19-results-a-well-balanced-business-model-to-navigate-the-current-environment-440d-8e037.html

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AIG Reports Second Quarter 2019 Results

Key Financial Highlights


5
• Net income attributable to AIG common shareholders was $1.1 billion, or $1.24 per
diluted common share, for the second quarter of 2019, compared to net income attributable
to AIG common shareholders of $937 million, or $1.02 per diluted common share, in the
prior-year quarter.
• Adjusted after-tax income attributable to AIG common shareholders was $1.3 billion, or
$1.43 per diluted common share, for the second quarter of 2019, compared to adjusted
after-tax income attributable to AIG common shareholders of $961 million, or $1.05 per
diluted common share, in the prior-year quarter.
• Total consolidated net investment income was $3.7 billion in the second quarter of 2019,
compared to $3.1 billion in the prior-year quarter.
• General Insurance delivered a second consecutive quarter of underwriting profitability,
achieving a combined ratio of 97.8 and an accident year combined ratio, as adjusted, of
96.1, driven by continued underwriting, reinsurance and expense discipline.

Executive Commentary
AIG’s President and Chief Executive Officer said: “Our strong second quarter performance
demonstrated continued positive momentum throughout the first half of 2019. The additional
progress on our path to long-term sustainable and profitable growth reflected in this quarter’s
results was driven by the foundational changes we implemented across AIG last year. General
Insurance achieved its second consecutive quarter of underwriting profitability resulting from
underwriting and expense discipline, and reinsurance actions, and remains on track to deliver an
underwriting profit for the full year. Life and Retirement delivered another quarter of solid in force
profitability and double-digit adjusted ROCE, and Life and Retirement expects to deliver full year
adjusted ROCE in the low- to mid-teens range, as we stated previously.”

For more details, please click the link below:


https://www.aig.com/about-us/newsroom
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Vienna Insurance Group posts strong growth in the


first half of 2019
Key Financial Highlights
6
• VIG reported a significant year-on-year increase in premium income of about EUR 300 million or 5.8%, to EUR
5,447 million. All segments produced gains, including the single-premium life insurance business, where premiums
have been falling for years.
• The financial result (including the result from at equity consolidated companies) for the first half of 2019 was EUR
423.2 million, down by 17% year-on-year, which was mainly due to non-recurring effects in H1 2018 resulting from
higher realised gains. Consolidated pre-tax profit reached EUR 257.1 million – a substantial year-on-year increase of
10.5%. Result before taxes in the first half of 2018 was affected by the goodwill impairment in the Romanian
market.
• The Group’s combined ratio was at 96.4% close to last year’s figure of 96.3%, despite the negative impact of
higher claims expenses due to the damage from heavy snow and Storm Eberhard. A very positive combined ratio
development was achieved in the Baltic states (down by 3.8 percentage points), Bulgaria (down by 3.5 percentage
points) and Other Markets, including Germany (down by 6.8 percentage points).
• As of 30 June 2019, VIG Group continues to report an outstanding solvency ratio of 238% (year-end 2018: 239%).
The rating agency Standard & Poor’s (S&P) has also acknowledged VIG’s very strong capital position at AAA-level
requirements, which is partly attributable to the Group’s very solid solvency ratio.
• Strengthening bank distribution is one of the objectives of VIG’s strategic work programme ‘‘Agenda 2020’’. The
focus here is on growing the non-life business through collaboration with Erste Group.

Executive Commentary
Vienna Insurance Group (VIG) continues to be in growth mode. “With significant gains in two key
indicators, premium growth as well as profit, both before and after taxes, we can report very positive
half year results. In spite of higher claims payments due to weather conditions, the combined ratio
remained stable year-on-year. We will maintain our focus on optimising the business model in terms
of claims and costs so that we remain on track to reach our target ratio of 95% in 2020. We are very
confident that we will achieve our targets for 2019. The Group is aiming for a premium volume of
EUR 9.9 billion and a pre-tax profit of between EUR 500 and EUR 520 million. The favourable
economic environment in the CEE region complements our optimism. In July 2019, the Vienna
Institute for International Economic Studies reported that slowdown in growth has been far less than
expected in Central, Eastern and Southeastern Europe. Forecasts for the majority of countries have
been revised upwards,” commented CEO of the Vienna Insurance Group, on the highly satisfying
results for the first half of 2019.

For more details, please click the link below:


https://www.vig.com/en/press/press-releases/detail/vienna-insurance-group-posts-strong-growth-in-the-first-half-of-2019-1.html?tx_ttnews%5Byear%5D=2019

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iA Financial Group Reports Above-Target


Second Quarter Results
Key Financial Highlights
7
• Reported EPS of $1.69 (+17% YoY) and ROE of 12.6%
(trailing twelve months)
• Core EPS1 of $1.61 , above guidance of $1.45 to $1.55
• 13% increase in expected profit on in-force and experience
gains in all business lines
• Solvency ratio of 127% at June 30, 2019 (122% at June 30,
2018) and debt ratio of 18.1%
• AUM/AUA of $186.5B at June 30, 2019 (+5% YoY)
• Standard & Poor's raises credit ratings on July 22, 2019

Executive Commentary
“Our strong second quarter results speak to the success of our sustainable growth strategy,”
commented President and CEO of iA Financial Group. “The 17% increase in earnings per share
over twelve months illustrates our solid performance and our profit-generating capacity. These
factors, combined with others such as our financial strength and the diversification of our
operations, led Standard & Poor's to raise our credit ratings in July.We're also happy with our
business growth,particularly in the United States. Our two U.S. divisionscontinue to show good
momentum, which solidifies our desire to grow that market. We're also continuing to see good
resultsfor segregated fund sales in Canada, where we're still ranked number one in net sales. At the
same time, our retail insurancesales are improving, and are slightly higher than last year's second
quarter results.”

For more details, please click the link below:


https://ia.ca/newsroom/2019/august/ia-financial-group-reports-above-target-second-quarter-results

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Vienna Insurance Group posts strong growth in the


first half of 2019

Key Financial Highlights


8
• VIG reported a significant year-on-year increase in premium income of about EUR 300 million or 5.8%, to EUR
5,447 million. All segments produced gains, including the single-premium life insurance business, where premiums
have been falling for years.
• The financial result (including the result from at equity consolidated companies) for the first half of 2019 was EUR
423.2 million, down by 17% year-on-year, which was mainly due to non-recurring effects in H1 2018 resulting from
higher realised gains. Consolidated pre-tax profit reached EUR 257.1 million – a substantial year-on-year increase of
10.5%. Result before taxes in the first half of 2018 was affected by the goodwill impairment in the Romanian
market.
• The Group’s combined ratio was at 96.4% close to last year’s figure of 96.3%, despite the negative impact of
higher claims expenses due to the damage from heavy snow and Storm Eberhard. A very positive combined ratio
development was achieved in the Baltic states (down by 3.8 percentage points), Bulgaria (down by 3.5 percentage
points) and Other Markets, including Germany (down by 6.8 percentage points).
• As of 30 June 2019, VIG Group continues to report an outstanding solvency ratio of 238% (year-end 2018: 239%).
The rating agency Standard & Poor’s (S&P) has also acknowledged VIG’s very strong capital position at AAA-level
requirements, which is partly attributable to the Group’s very solid solvency ratio.
• Strengthening bank distribution is one of the objectives of VIG’s strategic work programme ‘‘Agenda 2020’’. The
focus here is on growing the non-life business through collaboration with Erste Group.

Executive Commentary
Vienna Insurance Group (VIG) continues to be in growth mode. “With significant gains in two key
indicators, premium growth as well as profit, both before and after taxes, we can report very positive half
year results. In spite of higher claims payments due to weather conditions, the combined ratio remained
stable year-on-year. We will maintain our focus on optimising the business model in terms of claims and
costs so that we remain on track to reach our target ratio of 95% in 2020. We are very confident that we will
achieve our targets for 2019. The Group is aiming for a premium volume of EUR 9.9 billion and a pre-tax
profit of between EUR 500 and EUR 520 million. The favourable economic environment in the CEE region
complements our optimism. In July 2019, the Vienna Institute for International Economic Studies reported
that slowdown in growth has been far less than expected in Central, Eastern and Southeastern Europe.
Forecasts for the majority of countries have been revised upwards,” commented CEO of the Vienna
Insurance Group, on the highly satisfying results for the first half of 2019.

For more details, please click the link below:


https://www.vig.com/en/press/press-releases/detail/vienna-insurance-group-posts-strong-growth-in-the-first-half-of-2019-1.html?tx_ttnews%5Byear%5D=2019

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Legal & General invests £57m in UK solar portfolios

Description
9
Legal & General announces that it has provided £57.5 million of long-term debt
financing to support Hermes Infrastructure in their recapitalisation of two solar
photovoltaic (“solar PV”) portfolios in England and Wales.Demonstrating Legal &
General’s commitment to providing clean energy to the UK, the residential solar PV
systems have a combined installed capacity of around 34.52MWp. The majority of
the systems are placed on private residences, with c.10% of the portfolio located on
social housing rooftops. The portfolio benefits from Feed-in-Tariffs providing a high
level of cash flow visibility until maturity in 2033 and 2036. This transaction follows
a number of significant investments over the past 24 months, with three in UK
offshore wind including; Walney, Hornsea and Dudgeon, and a substantial solar PV
debt transaction. The renewables sector continues to be a significant focus for Legal
& General, and this investment further enhances its existing renewables portfolio.

Executive Commentary

This is another great investment for us in the


renewables sector. Renewable energy now accounts
for a third of global power capacity, with wind and
solar totalling 84% of new renewable generation
capacity in 2018” said Head of Infrastructure
Finance, LGIM Real Assets.
For more details, please click the link below:
https://www.legalandgeneralgroup.com/media-centre/press-releases/legal-general-invests-57m-in-uk-solar-portfolios/

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Legal & General Retail Retirement acquires


MyFutureNow
Description
10
Legal & General Retail Retirement (LGRR) has, for an undisclosed price, purchased a 100% stake
in Finovation Limited, trading as MyFutureNow, which specialises in pension pot tracing and
consolidation.MyFutureNow provides a service that allows the customer to trace their lost or
forgotten pension pots, for example from past employers. Using basic personal data and
employment details, MyFutureNow uses its extensive pension database and provider knowledge to
trace pension pots and provide updated details to the customer. It can be used either as a tracing
service or way of creating a single dashboard view of an individual’s pension savings
portfolio.MyFutureNow gives Legal & General an added benefit service for existing and potential
customers across Legal & General’s Retail Retirement and defined contribution pensions
business.The MyFutureNow platform will be offered to Legal & General customers of retirement
age who are tracing their various pension pots before making a decision about their retirement
income, whether through an annuity, drawdown, a combination of both, or other means. It will
also become available to IFAs seeking to provide this service to their clients. Additionally, the
service can be offered by Legal & General to customers of working age who want to find and
possibly consolidate their various pension pots into a single retirement savings solution.

Executive Commentary
At Legal & General we fully support the Government’s Pension Dashboard
initiative – but the reality is that it may be years before full coverage is
realised. Wherever they are in their retirement journey, from beginning to
save for retirement to planning retirement income solutions, customers need
the tools and guidance to make informed decisions about the most suitable
options for their personal circumstances, lifestyle and retirement goals” said
Chief Executive Officer, Legal & General Retail Retirement.
For more details, please click the link below:
https://www.legalandgeneralgroup.com/media-centre/press-releases/legal-general-retail-retirement-acquires-myfuturenow/

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CréditMutuel Arkéa¹ and Discover® Global Network


Sign an Agreement
Description
11
Discover Global Network, the payments brand of Discover, and Arkéa have signed an
acquiring agreement that will allow merchant clients of Arkéa2 group's distribution
networks to accept Discover, Diners Club International and alliance partner cards from
physical POS terminals, via mobile terminals, and online from payments webpages. Arkéa
group’s ATMs will also accept cards that are part of Discover Global Network for cash
withdrawals. The Discover Global Network includes Discover Network, Diners Club
International, PULSE and more than 15 alliance partner networks across the globe,
including relationships in China, Japan, Korea, India, Brazil, Turkey, and Nigeria. It has
more than 44 million merchant acceptance locations and 2 million ATM cash access
locations around the world.Arkéa group is an innovative French banking group, well-known
for its pioneering spirit being part of its DNA. In signing an agreement with Discover
Global Network, Arkéa is expanding its foreign card acceptance offer to merchant clients of:
CréditMutuel de Bretagne, CréditMutuel du Sud-Ouest, CréditMutuel Massif Central and
ArkéaBanqueEntreprises et Institutionnels.

Executive Commentary
Deputy Chief Executive Officer of Arkéa group, in charge of the Innovation and
Operations Division comments: “It’s with great pride that we announce the
partnership with Discover Global Network, the payments brand of Discover.
This agreement will allow our merchant clients to better welcome international
tourists. Arkéa places itself at the heart of the real economy: our mission is to
support our clients and more precisely merchant clientstorealise their ambitions
and in this way contribute to their development and that of our territories."
For more details, please click the link below:
https://investorrelations.discover.com/newsroom/press-releases/press-release-details/2019/Crdit-Mutuel-Arka-and-Discover-Global-Network-Sign-an-Agreement/default.aspx

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Macquarie Agriculture and Shandong Ruyi enter joint agreement


for ownership of Queensland’s Cubbie Station

Description
12
An agricultural fund managed by Macquarie Infrastructure and Real
Assets (MIRA or the Fund) and Shandong Ruyi (Ruyi) announced an
agreement to jointly own Queensland’s Cubbie Station, associated
properties and cotton ginnery (Cubbie). The Fund will acquire a 49%
stake in Cubbie, with Ruyi to retain 51%. Cubbie Agriculture, a
subsidiary of Ruyi, will continue to operate Cubbie under a long-term
operating agreement, with no change to the current on-property
management and team. The joint ownership agreement provides
certainty of ownership of Cubbie, supporting the local communities of
Dirranbandi, St George and surrounding districts. It also brings together
two experienced agricultural investors and operators and it is
anticipated this combined expertise will build on the operational and
sustainability initiatives that have already been undertaken on farm.

Executive Commentary
MIRA Head of Agriculture said: “Cubbie is one of Australia’s premiere
agricultural assets and aligns with our investment thesis for long-term
sustainable farming operations.MIRA has been an active investor in and
manager of Australian farmland for more than 10 years and we understand the
responsibilities that we have to local communities and investors. Shandong Ruyi
has a long-term track record of sustainable operation of Cubbie and that is a
commitment we share with them.
For more details, please click the link below:
https://www.macquarie.com/in/about/newsroom/2019/macquarie-agriculture-and-shandong-ruyi-enter-joint-agreement-for-ownership-of-queenslands-cubbie-station

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Kinnevik invests USD 75 million in VillageMD

Description
13
Kinnevik AB (publ) (“Kinnevik”),announced that it has invested USD
75m in VillageMD, a leading US based provider of primary care and a
pioneer in the delivery of value-based care. Kinnevik led the USD
100m Series B and will own 10% of VillageMD after the funding
round. VillageMD enables physicians to move towards a primary
care-led, risk-bearing clinical model that produces high quality care for
patients and strong economic value to physicians. The company was
founded in 2013 and has grown to serve more than 2,500 physicians
across eight markets in the US. The company cares for approximately
500,000 lives and oversees over USD 3 billion in total medical spend in
value-based contracts. VillageMD has a track record in reducing
medical spend, improving health and achieving high patient
satisfaction.

Executive Commentary
Kinnevik’s CEO, commented: “We are delighted to lead the funding round in
VillageMD, a company focused on delivering healthier patients, happier
physicians and better outcomes. We have been impressed by the company’s
technology, operational and clinical support capabilities, as well as its robust
business model. We see VillageMD, our fourth investment in healthcare, as
highly complementary to our existing portfolio given its ability to influence a
population’s entire healthcare spend. We look forward to supporting VillageMD
as the company continues to grow the business.”

For more details, please click the link below:


https://www.kinnevik.com/media--contact/press-releases/2019/9/2163030-Kinnevik-invests-USD-75-million-in-VillageMD

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New Residential Investment Corp. Makes Investment in


Field Services Company, Guardian Asset Management
Description
14
New Residential Investment Corp. announced the signing of an
agreement to acquire 100% of the shares of DGG RE Investments
LLC d/b/a Guardian Asset Management (“Guardian”), a leading
national provider of field services and property management to
government agencies, financial institutions and asset management
firms. Guardian’s suite of field services includes: inspections,
property preservation, repairs, real estate owned property
management and hazard claims. With its large local vendor
network, field operations and robust technology platform, Guardian
provides a wide range of highly targeted services nationally.

Executive Commentary

“This investment in Guardian presents a great opportunity for New


Residential to add a leading field services business to our platform,”
said MichaelChairman, Chief Executive Officer and President of New
Residential. “The addition of Guardian, coupled with our existing
investment in Covius, would allow New Residential to take another
step forward in our strategy of building a full suite of ancillary services
and growing revenues and earnings for our shareholders.”
For more details, please click the link below:
http://ir.newresi.com/file/Index?KeyFile=399230919

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CNO Financial Group and Bankers Life Support Alzheimer's Associa-


tion with $369,000 for Alzheimer's Research, Care and Support

Description
15
CNO Financial Group and Bankers Life, the national life and health insurer,
announced that it is supporting the Alzheimer's Association with $369,000 for
Alzheimer's care, education and research programs. In June, Bankers Life hosted its
17th annual Forget Me Not Days fundraising campaign in honor of National
Alzheimer's and Brain Awareness Month, and in partnership with the Alzheimer's
Association's The Longest Day fundraiser. The campaign raised $190,000 for the
Association through public donations and associate contributions.In addition, CNO
Financial and Bankers Life recognized the Alzheimer's Association with a $179,000
corporate donation to support its national mission of eliminating Alzheimer's disease.
Funds also will support local Walk to End Alzheimer's events in Chicago and
Indianapolis where the company has corporate offices.

Executive Commentary
"Our support of the Alzheimer's Association and its search for a cure aligns with
our corporate commitment to help protect the health and retirement needs of
middle-income Americans," said chief operations and technology officer for
CNO. Baude serves on the national board of directors of the Alzheimer's
Association as well as on the board of the Greater Indiana Chapter. "At CNO,
we are proud to advocate for organizations that positively impact the
communities where our customers and associates live and work."

For more details, please click the link below:


http://cno.mediaroom.com/2019-08-22-CNO-Financial-Group-and-Bankers-Life-Support-Alzheimers-Association-with-369-000-for-Alzheimers-Research-Care-and-Support

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Assured Guaranty to Acquire Asset Management


Firm BlueMountain

Description
16
Assured Guaranty Ltd. (together with its subsidiaries, Assured Guaranty), the leading
financial guaranty insurance company, announced that its subsidiary Assured
Guaranty US Holdings Inc. (AGUS) has entered into an agreement to purchase all of
the outstanding equity interests in BlueMountain Capital Management, LLC
(BlueMountain) and its associated entities for a purchase price of approximately $160
million, subject to certain adjustments. BlueMountain is an alternative asset
management firm with $19.3 billion in assets under management (AUM).The
acquisition is expected to be completed in the fourth quarter of 2019, subject to
certain customary closing conditions, including the receipt of consents and regulatory
approval. As part of the agreement, BlueMountain’s co-founder, Chief Executive
Officer and Chief Investment Officer, intends to join Assured Guaranty as Chief
Investment Officer and Head of Asset Management, which will include his current
roles at BlueMountain.

Executive Commentary
“We have been searching for the right asset management platform for over three years, and we
found it in BlueMountain, a seasoned asset management firm with a compatible credit culture,
complementary market knowledge and the scale to make a material contribution to Assured
Guaranty’s profitability,” said Assured Guaranty President and CEO Dominic. “BlueMountain will
be our largest and most important investment outside the financial guaranty sector. We expect to
allocate a portion of our financial guaranty subsidiaries’ investment portfolios to be managed by
our new asset management platform and believe that will drive improvement in our overall
investment returns, which should raise the future level of insurance subsidiary permitted dividends.
The acquisition is consistent with our strategic objective to diversify into fee-based revenue
sources, and we expect this platform to be the basis for further development of our presence in the
asset management sector. We are delighted that Andrew Feldstein will join Assured Guaranty to
execute this strategy.”
For more details, please click the link below:
https://assuredguaranty.newshq.businesswire.com/press-release/assured-guaranty-acquire-asset-management-firm-bluemountain

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Solution Updates from


Financial Services & Insurance
Industry

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Banking for Students by Students: RBC Launches Student


Experience within Mobile App

Solution Descriptio n
17

RBC is the first Canadian bank to launch a


customized mobile banking experience for
students. Launching, the RBC Mobile Student
Edition, built within the RBC Mobile app, was
designed in collaboration with students to enable
features that matter most to them. The Student
Edition homes in on Generation Z (“Gen Z”),
which encompasses all high school and
post-secondary age students. According to RBC
internal research1, only 38 per cent of
post-secondary and 33 per cent of high school
students feel that they have their finances under
control. With easy access, customizable features,
familiar design and quick touch definitions, this
new edition within RBC’s existing mobile app is
tailored to students’ digital preferences and enables
them to learn how to manage their finances.
For more details, please click the link below:
http://www.rbc.com/newsroom/news/2019/20190807-rbc-yya-app.html

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Sberbank launching QR code payment

Solution Descriptio n
18
Sberbank’s clients, Sberbank Online app’s users, now can pay
for their purchases using smart phones through the Pay QR
payment service. The QR code payment allows Sberbank’s
clients to make cashless payments at outlets where there is no
traditional acquiring. Pay QR allows small and micro
businesses to accept cashless payments from consumers without
additional equipment. The cashless payment traditionally helps
to increase sales, and QR codes make it possible with minimum
expenses for business. It is enough for sellers to have a QR
code from Sberbank which client will scan using their smart
phones through Sberbank Online app. The system is very easy
even for cashiers who can see all needed information on
purchases in Sberbank Business Online, mobile app for legal
entities.The QR payment allows Sberbank’s clients, individuals,
to make cashless payments at all outlets where there is no
traditional acquiring: markets, domestic service outlets, small
beauty salons, and flower shops, and receive Thank You
bonuses at the same time.

For more details, please click the link below:


https://www.sberbank.com/news-and-media/press-releases/article?newsID=5fd1cfe1-e8ab-4427-816f-688ac0f3b37a&blockID=7&regionID=77&lang=en&type=NEWS

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First CIS partner joins Sberbank’s money


transfer ecosystem
Solution Descriptio n
19

Sberbank and Commercial bank KYRGYZSTAN


of the Kyrgyz Republic have announced the launch
of a new service that unlocks instant mobile
payments for Sberbank Online users transferring
money to Commercial bank KYRGYZSTAN
clients. The partnership was established as part of
Sberbank’s instant payment ecosystem
development. Available in the International
Transfers section, the service only requires the
mobile phone number of a payee tied to their card
number, and charges a 1% fee, while the
transaction limit is set at RUB 50,000. Money can
be transferred in rubles and will be converted to
the card’s currency. Users of Android-powered
devices can appreciate the all-new service first,
with iOS devices following suit later.
For more details, please click the link below:
https://www.sberbank.com/news-and-media/press-releases/article?newsID=51965803-51e8-489e-a7dd-03eeee1eb97c&blockID=7&regionID=77&lang=en&type=NEWS

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New U.S. Bank mobile app delivers 100 million Insights, adds
dozens of new features and now available on Android

Solution Descriptio n
20

U.S. Bank announced dozens of new features that


are available in the rebuilt U.S. Bank mobile app,
including a Spanish language option – a first for
U.S. Bank – and availability on Android
devices.One of the most popular features in the
new app, which debuted in April, is Insights – a
highly personalized feed of key financial
information for customers that shows them things
like an end of month cash flow analysis, a potential
duplicate transaction charge warning or a full
breakdown their spending by category. Powered by
artificial intelligence, Insights help customers
quickly, confidently and securely manage their
finances with just a few taps. U.S. Bank has
delivered more than 100 million Insights to
customers since the feature launched.
For more details, please click the link below:
https://www.usbank.com/newsroom/news/us-bank-mobile-app-update-insights-spanish.html

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Chubb Introduces CoverPlus Featuring Expanded Liability


Insurance Solutions for Middle Market Manufacturers

Solution Descriptio n
21
Chubb has introduced CoverPlus℠ – a new platform offering
expanded liability-driven products tailored to the ever evolving risks
faced by middle market manufacturers as they embrace new
technologies and processes to remain competitive. CoverPlus℠
features a custom-tailored suite of coordinated insurance products
designed to fill the potential gaps which are typically inherent in
traditional insurance programs, and offers flexible and integrated
enhancements to address an array of exposures, including scalable
pollution liability, product withdrawal expense, errors and omissions
liability, and cyber liability. According to research jointly developed
with Ohio State University's National Center for the Middle Market
(NCMM) and Chubb, nearly 50% of manufacturers view risks
emanating from advanced manufacturing techniques as extremely
challenging. In addition, 71% of manufacturers believe their role in the
supply chain has become increasingly important and more
collaborative with suppliers. Both of these trends suggest a more
holistic approach to risk management is critical for manufacturers.

For more details, please click the link below:


http://news.chubb.com/2019-08-21-Chubb-Introduces-CoverPlus-Featuring-Expanded-Liability-Insurance-Solutions-for-Middle-Market-Manufacturers

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ICICI Bank unveils ‘Robotic Arms’ to power note


sorting at its currency chests
Solution Descriptio n
22
ICICI Bank announced the deployment of industrial
‘Robotic Arms’ to digitise operations at its currency chests.
The Bank is the first commercial bank in the country and
among few globally to customise and deploy industrial
robots to automate and perform repetitive high-volume steps
in handling cash processing on high-end note sorting
machines. These robotic arms now help sort over six million
notes every working day and 1.8 billion annually. This
brings in a frictionless and completely mechanised process
of notesorting that leads to higher accuracy and flexibility to
handle larger volumes continuously. It has also enabled the
personnel to focus more on value-added and supervisory
functions. The robotic arms have been deployed at the
Bank’s currency chests across 12 cities namely New Delhi,
Jaipur, Chandigarh, Mumbai, Bengaluru, Hyderabad,
Bhopal, Sangli, Mangaluru, Raipur, Siliguri and Varanasi.

For more details, please click the link below:


https://www.icicibank.com/aboutus/article.page?identifier=news-icici-bank-unveils-robotic-arms-to-power-note-sorting-at-its-currency-chests-20192808120401634

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Swiss Re and Capsicum Re deliver "Decrypt" – a


holistic cyber reinsurance solution
Solution Descriptio n
23
Decrypt, a new holistic cyber reinsurance solution is
launched by co-creators Swiss Re and Capsicum Re,
the specialist reinsurance broker. Decrypt provides a
single, flexible, end-to-end solution to insurers’ cyber
exposure challenges, including embedded, silent, and
affirmative cyber risks. Decrypt's modular approach is
comprised of risk identification, quantification and
transfer. It offers market-leading cyber-risk evaluation
expertise and a lead line from Swiss Re of up to USD
50 million per client with the support of a growing pool
of risk transfer capacity.Ultimately, Decrypt delivers
substantive immediate value to clients, while bringing
Swiss Re and panel reinsurers greater clarity and
insight so that they may offer bespoke risk transfer
solutions that really meet their clients' specific needs.
For more details, please click the link below:
https://www.swissre.com/media/news-releases/nr-20190902-new-holistic-cyber-solution-decrypt.html

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KeyBank Unlocks Power of the Purchase with New


Financial Wellness Tools
Solution Descriptio n
24
Aug. 5, 2019 KeyBank is announcing a new suite of
digital and banking tools that will make it easier for
clients to take steps toward achieving financial wellness.
Combined, the new Key Cashback credit card,
EasyUpSM and $0 Overdraft Protection Option tools
empower clients to save money and pay down debt faster,
while earning money back and avoiding unnecessary
extra costs.Based on a survey of thousands of clients,
KeyBank's Financial Wellness Review found that clients
are seeking out tools to make managing finances and
reaching financial milestones easier—especially in a
fast-paced, digitally-driven world. While nearly 72
percent of respondents who have budgets in place are
staying within them, 26 percent of those individuals
would like to save more—pointing to a need for smart
products to help make that possible.
For more details, please click the link below:
http://investor.key.com/file/Index?KeyFile=399048077

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BLOM BANK’s BLOMPay now available to all


BLOM Mastercard cardholders
Solution Descriptio n
25
BLOM BANK proudly announced the integration of BLOM
Mastercard credit and debit cards on BLOMPay, allowing BLOM
Mastercard cardholders to make payments via NFC-enabled Android
mobile phones with the eBLOM app quickly, safely, and easily.
BLOMPay was launched in August 2017 as the first service of its kind
in Lebanon and stands out by being integrated via the eBLOM app.
This means that the user does not need to download another
application to perform mobile payments. Following the initial launch
of the service, all BLOM Mastercard cards, whether debit or credit,
can now be used for mobile payments via BLOMPay. The
announcement was made at the headquarters of BLOM BANK at an
event attended by Mr. Saad Azhari – Chairman and General Manager,
BLOM BANK; Mr. Khalid Elgibali – Division President for the
Middle East and North Africa, Mastercard; Mrs. Jocelyne Chahwan –
Deputy General Manager and Head of Retail Banking, BLOM BANK;
and Mr. Ramzy Al Amary –Cluster Manager of Levant, Mastercard.

For more details, please click the link below:


https://www.blombank.com/english/news-and-publications/press-releases/blompay-blommastercard

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Unicaja Banco launches the Credit Univerde, a product that


offers flexibility in payments to farmers and ranchers

Solution Descriptio n
26
Unicaja Banco has launched its new Univerde Credit system, a specific product
for farmers that allows flexibility in the payment of purchases of inputs
necessary for its activity through the UniverdeCard , a professional agricultural
card for exclusive use in shops adhered to the Univerde agreement. The
Universal Credit system implies an improvement and expansion of the payment
modalities, since to the traditional debit, end of month and postponed
modalities, the fractional payment modality is added. This makes the Universal
Credit a completely flexible and innovative system in the sector, which adapts
to all types of crops and areas. Unicaja Banco provides great support for
agriculture, which is reflected in the continuous adaptation of its products to the
needs of farmers and companies in the sector, as well as in the creation of a
wide range of specialized financial products and services and in interesting
conditions, ranging from intensive crops, herbaceous crops, woody crops,
industrial crops, wine growers or livestock farmers, to the food industry and
marketing companies. Unicaja Banco has launched its new Univerde Credit
system , a specific product for farmers that allows flexibility in the payment of
purchases of inputs necessary for its activity through the Univerde Card , a
professional agricultural card for exclusive use in shops adhered to the
Univerde agreement ( more than 600 establishments).

For more details, please click the link below:


https://www.unicajabanco.com/PortalServlet?pag=1076697197649&content=fw1219761858382

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OneWest Bank Now Offers Zelle®

Solution Descriptio n
27

OneWest Bank, CIT's Southern California branch


network, announced Zelle® is now available in its mobile
banking app, providing customers a fast, safe and easy
way to send and receive money with friends, family and
others they trust.Zelle provides consumers a digitally
convenient alternative to cash and checks by allowing for
funds to be sent from one bank account in the U.S. to
another, using only a recipient's email address or U.S.
mobile number. Funds are typically available within
minutes when both parties are already enrolled with Zelle.
Zelle is one of the many ways OneWest has enhanced its
digital capabilities recently. In late 2018, card controls
launched, giving customers new capabilities to manage
debit card usage and combat potential fraud from their
smartphones. Customers can also pay bills, deposit checks
and make Apple Pay or Samsung Pay transactions through
the use their OneWest bank mobile apps.
For more details, please click the link below:
http://cit.mediaroom.com/2019-08-14-OneWest-Bank-Now-Offers-Zelle-R

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Everest Insurance® Launches Everest Elevation


REIT Management Liability Policy
Solution Descriptio n
28

August 6, 2019 -- Everest Insurance® announced the


release of their new Everest Elevation® REIT
Management Liability Policy (“Everest Elevation”),
which provides management liability coverage for real
estate investment trusts (“REITs”). The Financial Lines
group at Everest Insurance® offers industry-specific
management liability insurance on a primary and
excess basis. The new form has been designed to
address D&O exposures specific to REITs. The form’s
streamlined structure is easy to navigate and provides
market-leading D&O terms similar to those offered in
Everest’s new Management Liability Policy, which was
released in April 2018. Notable coverage features
include formal entity investigation coverage (separate
from Reg FD coverage), pre-claim expense coverage,
and broad definition of controlled entity.
For more details, please click the link below:
https://www.everestre.com/en/About-Everest/News/Everest-Insurance-Launches-Everest-Elevation-REIT-Management-Liability-Policy

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Rewards & Recognition Updates from


Financial Services & Insurance
Industry

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Fortune acknowledges Banco Santander as the bank


that is most changing the world
R&R Description
29
Santander Brazil is top of the ranking for retail and
commercial banks and in sixth place among all the
companies chosen for the 2019 list. Santander has been
running its Prospera microcredit programme in Brazil since
2002. Last year, it used digital technology to drastically
accelerate the approvals process, reducing it from 10 days to
10 seconds. This allowed Prospera, which provides small
low-interest loans to businesspeople (a quarter of whom live
below the poverty threshold), to increase the number of
business owners it supports by more than 50% in 2018 and
to be on the right track to increasing it another 90% this year.
Prospera has provided loans amounting to almost USD 2,000
million to a total of more than 700,000 businesspeople.
There is evidence that Prospera is particularly making a
difference in the areas most affected by poverty: a Rever
Consulting study concluded that every Brazilian real lent by
Prospera generates 4.5 times that amount in economic value.

For more details, please click the link below:


https://www.santander.com/csgs/Satellite/CFWCSancomQP01/en_GB/Corporate/Press-room/Santander-News/2019/08/21/Fortune-acknowledges-Banco-Santander-as-the-bank-that-is-most-changing-the-world.html

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Sberbank recognises as best bank in Central and Eastern


Europe in five nominations by Global Finance
R&R Description
30
Global Finance magazine has recognised Sberbank as the best bank in Central
and Eastern Europe in five nominations. Sberbank’s digital solutions for
corporate clients won the Best Investment Management Services, Best Online
Treasury Services and Best in Social Media Marketing and Services
nominations. In addition, Global Finance previously named Sberbank the best
contractor in Russia under the Best Treasury & Cash Management Banks and
Providers 2019 competition. Sberbank’s retail digital bank received Global
Finance’s awards in the Best Bill Payment & Presentment and Best Information
Security and Fraud Management nominations. The bank managed to won the
first places in the Best Investment Management Services and Best Online
Treasury Services nominations thanks to the improvement of online services for
legal entities. The regulation and technology in the financial sector change more
quickly, and the business environment become more competitive. Under such
conditions, the issue on efficient managing of the company’s cash flow becomes
more accurate, and the bank aims to provide the best products and services to
the Russian business to solve its objectives. A bright example is the Sberbank
Markets platform in which users have a technological working space to manage
currency risks and the company’s liquidity online in one window.

For more details, please click the link below:


https://www.sberbank.com/news-and-media/press-releases/article?newsID=026ce421-04ed-484b-9168-7d32f30051a4&blockID=7&regionID=77&lang=en&type=NEWS

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Sberbank named CEE winner of The Banker’s


Transaction Banking Awards
R&R Description
31
British magazine The Banker named Sberbank the best
bank for business transactions in Central and Eastern
Europe. For the second time in a row, the bank has won
the global contest of financial organizations
Transaction Banking Awards 2019. This year,
participants presented three innovations in banking
products, procedures and services to the panel of
judges. Sberbank focused on changes in payment
services, introduction of a unique web service and
mobile application for Cash-in-Transit and a digital
corporate card with integrated telemedicine.In addition,
the bank launched a web service and mobile
application for Cash-in-Transit that enables to order
services, add and delete cash-in-transit objects, change
service schedule and addresses, edit account numbers
for profit and fees, change legal and business addresses
of the company.
For more details, please click the link below:
https://www.sberbank.com/news-and-media/press-releases/article?newsID=e3e57820-3011-4c0f-a932-b48756b2ed4b&blockID=7&regionID=77&lang=en&type=NEWS

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Discover Card Ranks Highest in Customer


Satisfaction by J.D. Power
R&R Description
32
For the fifth time in six years, Discover ranked highest for
credit card customer satisfaction among U.S. credit card
companies by J.D. Power. Discover received a total of 842
points out of a possible 1,000, according to the J.D. Power
2019 U.S. Credit Card Satisfaction Study SM, outpacing the
industry average by 36 points, and improving six points from
2018.The J.D. Power 2019 U.S. Credit Card Satisfaction
StudySM collected feedback from more than 22,000 credit
card users, measuring the level of satisfaction customers
have with their primary credit card company. Discover
cardmembers ranked the company highest in Overall
Satisfaction, and Brand Image. Within the Overall
Satisfaction category, Discover ranked first for rewards,
credit card terms, communication and channel activities.
Within the Brand Image category, Discover ranked first for
being customer-driven, innovative, reliable, proactive,
friendly, and having a good reputation.

For more details, please click the link below:


https://investorrelations.discover.com/newsroom/press-releases/press-release-details/2019/Discover-Card-Ranks-Highest-in-Customer-Satisfaction-by-JD-Power/default.aspx

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Ameriprise Financial Earns Military Friendly® Employer


Designation for Sixth Consecutive Year
R&R Description
33
For the sixth year in a row, Ameriprise Financial has been named a 2020
Military Friendly® Employer by VIQTORY, a company that connects the
military community to civilian employment and educational opportunities.
The annual list recognizes companies that provide the best job prospects
and support for veterans and their families.Organizations earning the
Military Friendly Employer designation were evaluated using both public
and government data sources as well as survey information from
participating employers. Companies are assessed on factors including new
hire retention, employee turnover, and the promotion and advancement of
veterans and military employees.On the heels of this recognition,
Ameriprise kicked off its annual Global Diversity and Inclusion Week,
which featured various events to drive cultural awareness and promote
diversity and inclusion throughout its corporate offices across the globe.
Activities included a presentation on how employees can leverage their
authentic power to drive their career forward, a workshop on addressing
workplace stereotypes, and a fair spotlighting employee resources groups
at Ameriprise.

For more details, please click the link below:


https://newsroom.ameriprise.com/news/ameriprise-financial-earns-military-friendly-employer-designation-for-sixth-consecutive-year.htm

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Assurant Named a Winning “W” Company by 2020


Women on Boards for Fourth Consecutive Year
R&R Description
34
Assurant was named a Winning “W” company by 2020
Women on Boards, a national campaign dedicated to
increasing the percentage of women on corporate boards
to 20 percent by 2020. It is the fourth consecutive year
that Assurant has received this distinguished recognition.
With 30 percent of its board of directors currently
consisting of women, Assurant sits among some of the top
U.S. public companies that have met or surpassed the
benchmark set by 2020 Women on Boards. Assurant’s
board is led by Chair Elaine Rosen, who has held that
position since 2010.To compile their list, 2020 Women on
Boards uses the Fortune and Russell indexes to identify
active companies, then classifies them by four categories
based on the percentage of women board members. The
'W' designation recognizes companies whose board
membership is 20 percent or more female.
For more details, please click the link below:
https://www.assurant.com/newsroom-detail/Features/2019/August/assurant-named-a-winning-w-company-by-2020-women-on-boards-for-fourth-consecutive-year

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NAVIENT NAMED “TOP 10” MILITARY


FRIENDLY EMPLOYER
R&R Description
35
Aug. 15, 2019 -- Navient has earned the 2020 “Top 10” Military
Friendly Employer designation from VIQTORY, publisher of
G.I. Jobs and Military Spouse Magazine. It is the sixth
consecutive year Navient has earned the Military Friendly
designation.Since 2003, the Military Friendly Employers list
has come to set the standard for organizations to provide the
best opportunities for veterans and their spouses. The list is
created each year based on research using public data sources
for more than 8,800 employers nationwide, input from
employed veterans and responses to a comprehensive
employer-submitted survey.Navient was recognized among 290
other employers that earned the prestigious Military Friendly
designation. As a Military Friendly Top 10 Employer, Navient
is among other guidon bearers for military/ veteran programs
and initiatives, setting the standard for other designations and
programs that continue to improve every year.

For more details, please click the link below:


https://news.navient.com/news-releases/news-release-details/navient-named-top-10-military-friendly-employer

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Visy Australia’s facility wins coveted Master Builders


Victoria accolade
R&R Description
36
Frasers Property Australia’s (Frasers Property) Visy Australia (Visy)
facility has received the highly prized Excellence in Construction of
Industrial Buildings accolade at the 2019 Master Builders Victoria
Excellence in Construction Awards. The state-of-the-art warehouse located
in Melbourne’s Truganina suburb is approximately 42,770 sqm.Key
features of Visy’s warehouse include a 50,000 litre rainwater harvesting
tank, integrated energy and water usage metering and monitoring system,
15,500 sqm heavy duty concrete hardstand, 3,500 sqm awning, internal
high voltage electrical network incorporating two 1500kVA substations and
three 100 lineal metre deep conveyor trenches within the concrete floor
slab.The 5 Star Green Star Design & As Built facility is situated in West
Park Industrial Estate which boasts excellent access to the Western Ring
Road, Deer Park Bypass and Melbourne’s ports and airport.Visy is a global
leader in the packaging, paper and resource recovery industries, providing
high quality, innovative and sustainable packaging products and solutions.
The company operates in over 120 sites throughout Australasia and has
trading offices across Asia and Europe.

For more details, please click the link below:


https://www.frasersproperty.com/home/frasers-corporate/essentials/shared/dataitems/press-releases/2019/august/visy-australias-facility-wins-coveted-master-builders-victoria-accolade

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FNB HONORED AS PITTSBURGH TOP


WORKPLACE
R&R Description
37
First National Bank, the largest subsidiary of F.N.B.
Corporation, has again been named a Greater
Pittsburgh Area Top Workplace in the large-sized
company category (400+ employees) by the Pittsburgh
Post-Gazette. This is the Company’s ninth consecutive
year on the list, determined solely by employee
feedback and compiled by an independent research
firm. This year, FNB also received the Managers Award
as the No. 1 workplace for employees who feel that
their managers help them learn and grow. FNB also
was named a 2019 Best Places to Work in Western
Pennsylvania honoree by the Pittsburgh Business
Times, marking nine consecutive years on the
publication’s list. These latest honors bring FNB’s
recognition as a leading workplace to a total of 26 in
the different markets it serves.
For more details, please click the link below:
https://www.fnb-online.com/about-us/News/2019/08/27/12/57/190827FNBHonoredasPittsburghTopWorkplace

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Customer Success Updates from


Financial Services & Insurance
Industry

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NÜRNBERGER insurance relies on ePension

Description
38

The NÜRNBERGER goes online with ePension as


another product supplier. The management of
occupational pensions presents many
intermediaries and employer customers with
challenges. In order to provide even better support
in the future, NÜRNBERGER Versicherung and
ePension have started a joint bAV administrative
portal. "We combine the advantages of our
innovative management platform with the
extensive experience and product strength of
NÜRNBERGER, which gives our joint customers
a convincing overall package," explains Dr. med.
Edgar Eschbach, Managing Director of ePension.
Through the portal, employers and agents can
arrange contracts around the clock in the direct
insurance.
For more details, please click the link below:
https://www.nuernberger.de/ueber-uns/presse/pressemeldungen/nuernberger-versicherung-setzt-auf-epension/

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BIDV becomes first bank to connect with Vietnam Social


Security in e-payment
Description
39
The bilateral e-payment system between BIDV and Vietnam Social
Security will help electronize insurance collection/payment, save time
and costs for businesses and individuals. BIDV becomes the first
commercial bank to implement a bilateral e-payment system with
Vietnam Social Insurance.Particularly, from 1 September 2019,
organizations and individuals may opt for diverse forms of payment
channels at BIDV such as: internet banking, mobile banking, online
bill payment, interbank money transfer, automatic debit, or
over-the-counter payment for social insurance, health insurance, and
unemployment insurance.The implementation of this payment system
also meets level-4 online public service standard according to the
Prime Minister's policy and the State Bank of Vietnam’s non-cash
payment policy.This marks an important step in the cooperation
between the insurance industry and BIDV in particular and commercial
banks in general in the process of modernizing the collection of social
insurance, helping bring the best utilities to residents and businesses.

For more details, please click the link below:


https://www.bidv.com.vn/bidv_en/tin-tuc/tin-ve-bidv/bidv-ngan-hang-dau-tien-ket-noi-thanh-toan-dien-tu-song-phuong-voi-bao-hiem-xa-hoi-viet-nam

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"Funders.ch" uses SwissID

Description
40

The LUKB supports the establishment and


expansion of the digital identity in Switzerland.
With "funders.ch", login is now also possible with
SwissID - Switzerland's first crowdfunding
platform. "Funders.ch" is a platform of the LUKB,
on which currently the cantonal banks of
Nidwalden, Obwalden, Bern and Thurgau
cooperate in the areas of crowdsupporting and
crowdlending. The newly created access using
SwissID makes the login process on " funders.ch "
easier and safer at the same time. Users can
optionally provide their SwissID with an additional
security level with the two-factor authentication
via the SwissID App, via Mobile ID or via SMS.
For more details, please click the link below:
https://www.lukb.ch/o/_/uber-die-lukb/news/news-funders.ch-setzt-swissid-ein

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CIBC Selects SEI Wealth Platform to


Power Growth Strategy
Description
41
SEI announced CIBC U.S. Private Wealth Management
has selected the SEI Wealth PlatformSM (SWP) to
support its business with a comprehensive operating
platform. This news was first announced on SEI’s
second-quarter 2019 earnings call.SEI’s solution can
support CIBC U.S. Private Wealth Management with a
comprehensive set of front-office capabilities and
end-client experiences, coupled with core processing
support for both internal and external custody
relationships, including:
• Investment planning and proposal generation
• Portfolio management and performance reporting
• Compliance services
• Fund processing and administration
For more details, please click the link below:
https://seic.com/newsroom/cibc-selects-sei-wealth-platform-power-growth-strategy

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Partnership Ecosystem Updates from


Financial Services & Insurance
Industry

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Wells Fargo Extends Financing


Relationship with Polaris
Description
42
Wells Fargo Commercial Distribution Finance (CDF), a
unit of Wells Fargo Commercial Capital, announced the
continuation of Polaris Acceptance, a joint venture with
Polaris Inc., into 2027. CDF and Polaris began the
dealer wholesale financing joint venture in 1996.Polaris
is currently celebrating 65 years of being a recognized
leader in the powersports industry. With the extension
of this program, CDF will continue to ensure dealers
have access to working capital and provide Polaris with
financial solutions as they develop new products,
innovate across distribution channels and grow their
global business.Polaris Acceptance is managed by
CDF’s Steve Hupp who has 20 years of industry
experience, including 10 years with CDF.
For more details, please click the link below:
https://newsroom.wf.com/press-release/wholesale-banking/wells-fargo-extends-financing-relationship-polaris

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Sberbank continuing to cooperate with UMMC Group on


international uncovered letters of credit
Description
43

Sberbank continues to cooperate with UMMC


(Ural Mining Metallurgical Company) Group
on trade financing. The cooperation between
two companies started in 2017. The total
amount of implemented deals exceeded EUR
636 mln. The volume of issued international
letters of credit amounted to EUR 250 mln in
the last seven months. The letters of credit are
opened for UMMC Group to purchase copper
concentrate. The deals were structured
involving largest international Sberbank’s
partner banks that allowed clients to be offered
as beneficial financing conditions as possible.
For more details, please click the link below:
https://www.sberbank.com/news-and-media/press-releases/article?newsID=c9593c05-b878-40fa-a6e5-21793188c9ac&blockID=7&regionID=77&lang=en&type=NEWS

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Mastercard Expands Global Relationship with Riot Games as


Exclusive Category Partner of League of Legends®

Description
44
August 21, 2019 – Mastercard announced it has expanded its existing,
global partnership with Riot Games League of Legends esports into
financial services category exclusivity for the League of Legends
Championship Series (LCS), the preeminent esports series in North
America, deepening its relationship with the largest esport in the world
and reinforcing its support of the esports community. Additionally,
Mastercard introduced “Together Start Something Priceless,” a League
of Legends community driven content series that will showcase unique
stories of League of Legends players around the world.As the
exclusive financial services category sponsor for the LCS, beginning
with this weekend’s Summer Split Finals in Detroit, Mastercard will
curate a wide range of Priceless experiences and exclusive cardholder
benefits across onsite event activations, via Priceless.com and through
other to-be-announced promotions to bring cardholders closer to their
passion and help fans experience what they love about League of
Legends competitions. Mastercard will also partner with the platform
to integrate payment technology that drives a simple and secure
payment experience.

For more details, please click the link below:


https://newsroom.mastercard.com/press-releases/mastercard-expands-global-relationship-with-riot-games-as-exclusive-category-partner-of-league-of-legends-championship-series-in-north-america/

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Attijariwafa bank signs a memorandum of understanding


with Mizuho Bank, one of the leading banks in Japan

Description
45
On the sidelines of the 7th edition of TICA, which took
place this year in Yokohama, a partnership agreement was
signed between the Attijariwafa bank group. and Mizuho
Bank, one of the largest banking and financial groups in
Japan. The agreement was signed byChief Executive Officer
of Attijariwafa bank Group and Managing Executive Officer,
Head of EMEA, Mizuho Bank & Mizuho Financial Group.
Attended this ceremony MM. Youssef ROUISSI, DGA in
charge of Corporate and Investment Banking of the
Attijariwafa bank group, Executive Director and head of
Asia at the Transactional Bank of the Group. Under this
memorandum, both parties agree to formalize a cooperation
framework to promote the sharing of good practices in
banking, finance and business. The terms of this agreement
stipulate, in particular, cooperation in the areas of corporate
banking, international trade operations, project finance and
capital markets.

For more details, please click the link below:


https://www.attijariwafabank.com/fr/espace-media/actualites/attijariwafa-bank-signe-un-memorandum-dentente-avec-mizuho-banklune-des

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Assurant Partners with Deposify to Offer Property Managers a


New Approach to Managing Traditional Security Deposits

Description
46
Assurant, Inc., a global provider of housing and lifestyle solutions that
support, protect and connect major consumer purchases, announced a new
partnership with Deposify, a European fintech company, that has developed
an industry-first technology solution for managing refundable cash security
deposits. As a result of this partnership with Deposify, Assurant’s property
management clients will now have access to a cash security deposit
management platform that simplifies the financial and operational process
and mitigates the risks associated with traditional cash security deposits.
Deposify’s technology platform also helps keep property managers
compliant with each state’s security deposit laws and regulations by
creating joint trust accounts that pay interest. Currently available in the
Northeast, the service will be rolled out nationally in the coming
months.Before Deposify, managing cash security deposits was complex
and costly, especially when managing large numbers of properties in
multiple states. The Deposify platform helps owners and property
management companies manage banking, payments, compliance and
dispute resolution quickly and easily and at no charge. According to a
recent national poll of renters by Assurant, 34 percent of renters had issues
receiving their security deposit refund after they moved out.

For more details, please click the link below:


https://www.assurant.com/newsroom-detail/NewsReleases/2019/September/assurant-partners-with-deposify-to-offer-property-managers-a-new-approach-to-managing-traditional-security-deposits

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Bank Muscat signs agreement with The International


School of Choueifat for RDC solution

Description
47
Bank Muscat, the flagship financial services provider in the
Sultanate, and The International School of Choueifat have signed
an agreement for a new initiative that will allow the school to be
linked to the Remote Deposit Capture (RDC) facility offered by
Bank Muscat. Remote Deposit Capture is an online cheque
clearing solution, facilitating faster clearance and efficiencies in
account receivables. Using Bank Muscat’s RDC solution, The
International School of Choueifat will be able to scan the images of
cheques from the school office before these cheques are physically
submitted to the bank for clearing. This will facilitate faster credit
with complete management information services (MIS) to save
time, effort and cost for The International School of Choueifat in
handling its fees and other collections. The agreement was signed
by Tariq Atiq, DGM - Transaction & Public Sector Banking, Bank
Muscat, and Armen Mansourian, School Director at The
International School of Choueifat, recently and comes as part of the
Bank’s initiative to onboard more businesses and organisations to
the various digital solutions and services provided by the bank.

For more details, please click the link below:


https://www.bankmuscat.com/en/pages/news.aspx?pr=1491

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Sberbank and Development Bank of Republic of Belarus


conclude agreement on providing financing

Description
48

Sberbank and Development Bank of the

Republic of Belarus (DBRB) have concluded a

general agreement on providing financing that

will allows DBRB to diversify sources to finance

foreign trade contracts of its clients, participants

of foreign economic activity. The conclusion of

the agreement will contribute to strengthening of

the partnership that is aimed to implement joint

projects.

For more details, please click the link below:


https://www.sberbank.com/news-and-media/press-releases/article?newsID=27ad683f-f0f1-4d7d-a701-3684764c2a2d&blockID=7&regionID=77&lang=en&type=NEWS

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Sberbank and government of Samara Region conclude agreement


on workforce capacity development in region

Description
49
Sberbank has concluded an agreement on cooperation
with the government of the Samara Region to implement
joint projects and activities that are aimed to create and
develop workforce capacity in the region. The document
was signed by First Deputy Chairman of the Executive
Board of Sberbank Alexander Vedyakhin and Governor of
the Samara Region Dmitry Azarov. Under the agreement,
the parties will cooperate to implement joint activities that
are aimed to create workforce capacity among students
and employees in the Samara Region to further employ
them at Sberbank, state organisations and agencies, as
well as to form a candidate pool to implement state
initiatives and key projects of the country and region.
For more details, please click the link below:
https://www.sberbank.com/news-and-media/press-releases/article?newsID=a6796694-cf2d-45e4-a94a-1b755a34d237&blockID=7&regionID=77&lang=en&type=NEWS

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Miscellaneous Updates from


Financial Services & Insurance
Industry

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Billion Dollar Roundtable Inducts Newest Corporate


Member JPMorgan Chase

Description
50
The Billion Dollar Roundtable Inc. (BDR) announced that JPMorgan
Chase & Co. has joined the top-level corporate supplier diversity
advocacy organization as its newest member company. JPMorgan
Chase, the global financial services firm whose corporate history dates
back more than 200 years, joins an exclusive group of U.S.-based
corporations that have attained $1 billion or more in annual Tier 1
supply-chain diversity spend, the threshold for BDR
membership.JPMorgan Chase will be inducted formally into the
organization during the BDR Annual Summit Aug. 21-22, 2019, in
Basking Ridge, N.J.JPMorgan Chase’s Global Supplier Diversity
mission aligns the company’s supply and consumer bases, engaging
with certified and qualified diverse businesses, including companies
owned and operated by minorities, women, military veterans, disabled
veterans, service-disabled veterans, people with disabilities and
members of the LGBT+ community, in the interest of promoting
economic growth in the communities it serves. In 2018 alone,
JPMorgan Chase’s spend with diverse suppliers surpassed $2 billion.

For more details, please click the link below:


https://www.jpmorganchase.com/corporate/news/pr/billion-dollar-roundtable-inducts-newest-member.htm

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Allianz strengthens its presence in Brazil

Description
51
Allianz has agreed to acquire automobile and other Property-Casualty
operations from SulAmérica. The acquisition will strengthen the
competitive position of Allianz in Brazil, making it one of the top 3
insurers with a market share of around 15 percent in motor and 9
percent in Property-Casualty insurance and establishing Allianz as the
number 2 in motor insurance. The purchase price is 3 billion Brazilian
real (667 million euros).The total premium income from the acquired
entity totaled approximately 806 million euros in 2018, with 762
million euros stemming from motor and 45 million euros stemming
from other Property-Casualty operations. Pro-forma premium income
of the combined entity is 1.5 billion euros with 1.2 billion euros related
to Motor business. With a premium volume of approximately 16
billion euros and a growth rate of 6.0 percent in 2018 alone, the market
for Property-Casualty insurance in Brazil is very attractive.The
transaction enlarges the service offering for customers and provides an
opportunity to grow Allianz’s geographical footprint in Brazil. It also
allows further investment in digital and disruptive technologies to
energize the industry and continue to deliver first-class solutions for
local brokers and customers.

For more details, please click the link below:


https://www.allianz.com/en/press/news/financials/stakes_investments/190823_Allianz-strengthens-presence-in-Brazil.html

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RBC Expands Healthcare Offering with


Membership Program
Description
52
RBC Healthcare announced the launch of RBC Healthcare
Advantage, a membership program designed to specifically
support healthcare professionals at all stages of their careers.
The Advantage and Advantage Pro memberships recognize the
unique needs of healthcare professionals by combining RBC
products and services with access to exclusive benefits and
customized rewards and solutions to support their practices and
personal lives. After more than a decade serving healthcare
professionals, RBC formally introduced RBC Healthcare last
year to further enhance offerings and drive unique benefits for
the healthcare community.With solutions to support their
personal and business needs ranging from everyday banking,
business banking, investment solutions and more, RBC
Healthcare equips healthcare professionals with tailored tools
and advice when and how they need it most. The program also
provides customized offers including bonus reward points for
medical membership fees, preferred rates for investments and
business banking, and even a discounted healthy meal delivery
service.
For more details, please click the link below:
http://www.rbc.com/newsroom/news/2019/20190827-hc-advantage.html

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Sberbank trains CIT guards and employees of security


service using VR technology for first time

Description
53
Sberbank has held its first corporate target practice
competitions using VR technology for the CIT and
security services, during which employees of all 11
Regional Banks took part online. A unique VR
simulator developed by the AR/VR Laboratory and
Sberbank’s CIT Service was used during the
competitions. Thanks to innovative technology, the
VR simulator allows situation-based training
sessions to be held, imitates shooting conditions that
are as close to real ones as possible, and allows the
actions of employees of the CIT and security services
to be appraised in multiuser mode. At the same time,
during the VR technology competitions, a weapon
that corresponds to the real one in terms of weight
and mechanic and ballistic capabilities is used.
For more details, please click the link below:
https://www.sberbank.com/news-and-media/press-releases/article?newsID=eb0e6b77-bc75-404b-90ea-c82e27cc9769&blockID=7&regionID=77&lang=en&type=NEWS

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Sberbank closes deal on purchasing


51% stake in STC Group
Description
54
Sberbank, Gazprombank and Digital Horizon have closed
a deal under which Sberbank purchases 51% stake in
Speech Technology Center (STC). Gazprombank remains
a strategic shareholder of STC and continues to actively
take part in the further development of the company.
International venture capital company Digital Horizon
also acquired a share in STC’s capital.Speech Technology
Center that became a part of Sberbank’s ecosystem is
specialised in the development of the AI technology,
including recognition and synthesis of speech and
computer vision. Thanks to the deal, the company
received access to resources and competences of two
largest Russian financial organisations, as well as
international expertise of Digital Horizon that will allows
STC’s developments to compete on the global technology
market.
For more details, please click the link below:
https://www.sberbank.com/news-and-media/press-releases/article?newsID=9887983e-19a5-4afa-835f-4afb748279f8&blockID=7&regionID=77&lang=en&type=NEWS

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Discover and Verve Mark Launch of Verve Global


Card with First Transaction Event
Description
55
Verve, a leading payments technology company and Interswitch’s
card scheme in Africa, and Discover Global Network, the payments
brand of Discover, held an event to launch the Verve Global Card.
Cardholders will now have the ability to use their Verve Global
Cards on the Discover Global Network which provides acceptance
at millions of merchants globally. This will expand Verve’s existing
suite of tailored payment products and solutions for its
customers.The agreement with Discover Global Network will
facilitate new international and cross border transaction capabilities
for Verve Global Card customers, meeting the needs of its
increasingly global customer base. Holders of the new card can
make payments outside of Nigeria on the Discover Global Network
which includes anywhere Discover, Diners Club International,
Pulse and affiliate network cards are accepted. Verve Global Card
also delivers additional benefits to cardholders including broad
reward and loyalty schemes; benefits that are available both locally
and internationally.

For more details, please click the link below:


https://investorrelations.discover.com/newsroom/press-releases/press-release-details/2019/Discover-and-Verve-Mark-Launch-of-Verve-Global-Card-With-First-Transaction-Event/default.aspx

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goop, Mastercard, and Next Retail Concepts Upgrade


Online Shopping in Canada
Description
56
August 1, 2019 — For the first time, goop will extend the unique brand
experience of the physical goop MRKT Toronto pop-up to digital
shoppers in the Canadian market. Powered by Mastercard and Next
Retail Concepts and guided by goop, the innovative digital
environment will allow shoppers to browse and buy just as if they were
in the physical store.Consumers in Canada will find this to be a new,
very different, immersive way to shop that supplements the
e-commerce experience on goop.com. Through September 22, a
shopper can virtually navigate through a three-dimensional version of
goop MRKT Toronto, interact with their favorite goop products, and
engage with digital content curated by goop. The goop product
assortment for purchase through the experience will include goop’s
own lines of G. Label apparel and swim; G. Sport activewear;
high-performance, clean skin care; and bath, and body essentials.
Purchases are secure and the technology integrates seamlessly with
goop’s existing ecommerce platform. Together with partners like
Mastercard and Next Retail Concepts, goop is evolving the
e-commerce experience to bring the physical store to life in an
immersive, digital environment.

For more details, please click the link below:


https://newsroom.mastercard.com/press-releases/goop-mastercard-and-next-retail-concepts-upgrade-online-shopping-in-canada/

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Macquarie Group announces five winners for $A50


million philanthropic award to mark its 50th
Description
57
27 Aug 2019 Macquarie Group announced the five
winners of the Macquarie 50th Anniversary Award, a
$A50 million philanthropic commitment that seeks to
initiate or support projects that address an area of unmet
social need. From close to 1,000 applications and an
exceptional field of 12 finalists, the winners have been
selected to each receive $A10 million to impact millions
of lives in meeting social needs in the areas of lifesaving
healthcare, protection from devastating diseases,
improved social mobility for low-income workers and
action to rid the world’s oceans of plastic. As part of the
Award selection criteria, the successful projects have the
potential for lasting community benefit and a defined
approach to measuring social impact. The projects will be
delivered over the next five years, with funding to be
released according to an agreed project timeline and a
strong sustainability model post the funding period.
For more details, please click the link below:
https://www.macquarie.com/in/about/newsroom/2019/macquarie-group-announces-five-winners-for-%24A50-million-philanthropic-award-to-mark-its-50th-anniversary

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Partners Group adds third Australian wind farm to


Grassroots Renewable Energy platform
Description
58
Partners Group, the global private markets investment manager, has, on behalf of its
clients, invested in Bango Wind Farm ("Bango"), a 244MW construction-ready
project in the state of New South Wales ("NSW"), Australia, with a total project
value of AUD 500 million. Partners Group will also lead the operational roll-out of
Bango, which will comprise 46 GE Cypress 5.3MW turbines, with a total nameplate
capacity of 244MW. Bango will be the first wind farm globally to use this type of
turbine, which is the largest onshore wind turbine currently in production.
Construction of Bango will commence in August 2019, with the farm expected to be
operational by mid-year 2021. Once completed, Bango is projected to generate
enough clean energy to power over 100,000 households and would save over 600,000
tonnes of carbon emissions every year. It has already secured a 15-year contract with
Snowy Hydro, an investment grade off-taker, for 100MW of its capacity.Bango is the
third project under Grassroots Renewable Energy ("Grassroots"), a large-scale
renewable energy platform in Australia established in May 2018 by Partners Group
and CWP Renewables. On behalf of its clients, Partners Group has committed a total
of AUD 700 million of equity investment into Grassroots. Bango was preceded by
investments in the 270MW Sapphire Wind Farm and the 135MW Crudine Ridge
Wind Farm in 2016 and 2018, respectively, both of which are also located in the state
of NSW. Sapphire Wind Farm became operational in December 2018 and was
recently announced as a supplier of renewable energy to the Sydney Opera House via
its power purchase agreement with energy provider Flow Power.

For more details, please click the link below:


https://www.partnersgroup.com/en/news-views/investment-news/current/detail/article/partners-group-adds-third-australian-wind-farm-to-grassroots-renewable-energy-platform/

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FIRST NATIONAL BANK EXPANDS CONSUMER


BANKING SERVICES IN WASHINGTON, D.C.,

Description
59
First National Bank, the largest subsidiary of F.N.B.
Corporation announced plans to open a Washington, D.C.,
retail location at 900 19th Street. FNB also plans to develop
additional de novo locations in the D.C. Metro area and in
northern Virginia. The expansion of its consumer banking
services in these strategic geographic locations further
enhances the Company’s retail strategy and corporate
banking efforts in these attractive markets. The addition of
the Bank’s new 19th Street location builds on FNB’s
previous commercial expansion in the region, which
included the addition of significant government contracting
expertise as well as extended focus within its Business
Banking group. Through its existing presence in the market,
the Bank has successfully grown loans, deposits and
non-interest income, in addition to providing services such
as Wealth Management, Treasury Management, International
Banking and Capital Markets in the D.C. Metro area.

For more details, please click the link below:


https://www.fnb-online.com/about-us/News/2019/08/28/12/15/FNB-Expands-Consumer-Banking-Services-in-Washington-DC--082819

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w w w . y o u t u b e . c o m / c h a n n e l / U C m f V P K O Q 2 I M E Q Q W 2 5 P 4 - I h Q
w w w . y o u t u b e . c o m / c h a n n e l / U C m f V P K O Q 2 I M E Q Q W 2 5 P 4 - I h Q

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