Tag: Empower

Mastercard Announces Fintech Express to Empower MEA Fintechs to Launch and Expand Rapidly

  • Mastercard’s new Fintech Express program provides tailor-made solutions that boost market entry and expansion for regional fintechs
  • The program supports digital payment innovators by making it simple to collaborate with Mastercard and its extensive partner network to launch new fintech products
  • Mastercard Fintech Express enables participants to create new tech alliances designed to propel fintechs from concept to market in a matter of days

Dubai, UAE – 23 September 2020: Mastercard has launched Fintech Express in the Middle East and Africa, a program designed to facilitate emerging fintechs’ launch and expansion. Leveraging the power of partnerships and Mastercard’s expertise, technology, and global network, startups will now be able to focus on innovation that drives the digital economy.

Mastercard Fintech Express is designed for all types of fintechs: established fintechs wanting a direct license from Mastercard; as well as fintechs with the ambition to innovate through collaborating with ready-to-go Mastercard Engage

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Dubai Business Women Council And Creative Zone Launch Program To Empower 100 Female Entrepreneurs In The UAE

Dubai Business Women Council, a Dubai Chamber of Commerce and Industry platform for business women in Dubai, and Creative Zone, a Dubai-based business setup advisory firm, have partnered to launch an initiative called “She Leads” to accelerate and incubate 100 female-led startups from the UAE.



a man and a woman sitting at a table: Lorenzo Jooris, CEO of Creative Zone, with Nadine Halabi, Business Development Manager of the Dubai Business Women Council.


© Dubai Business Women Council
Lorenzo Jooris, CEO of Creative Zone, with Nadine Halabi, Business Development Manager of the Dubai Business Women Council.

“She Leads” has been designed as a 12-week program that will train 100 UAE-based female entrepreneurs, above the age of 21, who have an existing business or a concrete business plan. All training modules and workshops will be taught online by industry experts, coaches, and business leaders based in the UAE and abroad, focusing on business launch strategy, funding and scaling, impactful leadership, marketing, finance, and distribution.

The two most promising applicants in the program will receive a set of free business

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Empower Retirement to Buy MassMutual’s Retirement Plan Business

Illustration: NESPIX/Shutterstock

Empower Retirement is buying the retirement plan business of Massachusetts Mutual Life Insurance Co., which has some $167 billion in assets, 2.5 million participants and 2,000 employees.

The news, announced early Tuesday, comes three weeks after Empower wrapped up its purchase of RIA and robo-advisor Personal Capital, which works with $13 billion in client assets, for roughly $1 billion. 

Its latest deal is structured as “a reinsurance transaction for a ceding commission of $2.35 billion,” according to a statement, and is expected to close in the fourth quarter. Plus, Empower has pledged to support the MassMutual business with $1 billion of required capital after combining it with its own retirement plan operations.

The two entities say they plan to work together to sell digital insurance products from Haven Life Insurance Agency. Also, Empower and Personal Capital clients will be able to buy MassMutual’s voluntary insurance and annuities.

“With

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Empower Retirement to Acquire Retirement Plan Business of MassMutual

Combines talent and expertise in key growth areas to provide customer service focus, technological excellence, deep product capabilities

Expands firm’s capabilities across retirement services market to more than 12.2 million individuals and 67,000 retirement plans

Empower Retirement and Massachusetts Mutual Life Insurance Company (MassMutual) today announced that they have entered into a definitive agreement for Empower to acquire the MassMutual retirement plan business. The acquisition will capitalize on both firms’ expertise, provide technological excellence and deep product capabilities, and create scale to the benefit of retirement plan participants and their employers.

Based on the terms of the agreement and subject to regulatory approvals, Empower will acquire the retirement plan business of MassMutual in a reinsurance transaction for a ceding commission of $2.35 billion. In addition, the balance sheet of the transferred business would be supported by $1 billion of required capital when combined with Empower’s existing U.S. business.

The MassMutual

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MassMutual enters into definitive agreement for Empower Retirement to acquire its retirement plan business

MassMutual announced on Tuesday that its retirement plan business is being acquired by Colorado-based Empower Retirement.

Based on the terms of the definitive agreement and subject to regulatory approvals, Empower will acquire the retirement plan business of MassMutual in a reinsurance transaction for a ceding commission of $2.35 billion. In addition, the balance sheet of the transferred business would be supported by $1 billion of required capital when combined with Empower’s existing U.S. business.

In a joint statement the companies said the acquisition will capitalize on both firms’ expertise, provide technological excellence and deep product capabilities, and create scale to the benefit of retirement plan participants and their employers.

“In Empower, we are pleased to have found a strong, long-term home for MassMutual’s retirement plan business, and believe this transaction will greatly benefit our policy owners and customers as we invest in our future growth and accelerate progress on our

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Empower to Buy MassMutual’s Retirement Plan Business

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MassMutual has found a buyer for its retirement plan business.

Empower Retirement, which was among the rumored potential suitors, will purchase the business in a transaction valued at about $3.35 billion, Empower’s parent Great-West Lifeco said in a news release. Empower is based in the Denver metro area, but its parent’s headquarters are in Winnipeg, Canada.

The deal value includes a reinsurance ceding commission of $2.35 billion and $1 billion of required capital to support the business, the release said. The companies expect the deal to close in the fourth quarter of this year.

MassMutual, which offers life insurance, mutual funds, and annuities, put the retirement plan unit up for sale earlier this year after reportedly determining it was no longer a core business.

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Digi International Transforms Digi Remote Manager to Empower IoT Network Success

Digi Remote Manager Enables Businesses to Maximize IoT Investment and Empower Staff with Dynamic, Mission-Critical Network Intelligence and Single-Pane-of-Glass Device Control

HOPKINS, Minn., Sept. 8, 2020 /CNW/ — Digi International®, (NASDAQ: DGII) (www.digi.com), a leading global provider of Internet of Things (IoT) connectivity products and services, today announced the latest release of Digi Remote Manager®, its device and network management cloud platform.

With these advances, Digi Remote Manager expands its ability to simplify device deployment and maintenance, ensure network uptime and security, and provides new levels of network management so that the network team is not required to change their business processes to accommodate rigid network tools.

Digi Remote Manager Unlocks Network Value, Delivers Higher Resiliency
Digi Remote Manager is a cloud-based platform that allows users to manage IoT devices and networks in any environment from anywhere in the world. With the ability to support

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How Can Startups Use Virtual Credit Cards To Empower Growth?

Virtual credit cards are quickly gaining traction around the world in the B2B payment space. Created for online transactions, they enable greater control and security, provide safeguards against fraud, and can even simplify companies’ expense management.

Worldwide, virtual card spend is expected to grow by 21% and is estimated to reach a staggering $355 billion by 2022. Other figures indicate that the business use of virtual cards will grow by 90% in the next four years.

Have a look at how they work, what sets them apart from physical cards, and some of the ways you can use them.

Virtual versus physical credit cards

They can be used to make purchases anywhere online, in mobile apps, or through mobile wallet payments in most parts of the world. But they offer a few unique benefits over physical cards that make them attractive for B2B use:

Virtual Credit Cards are issued instantly

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