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Empirix Launches New Hammer Partner Program to Capitalize on the Growth of the Contact Center as a Service Market (CCaaS)

Contact center testing and experience assurance market leader transitions to fully channel centric model

BILLERICA, Mass., Oct. 12, 2021 (GLOBE NEWSWIRE) — Empirix, an Infovista company and leader in contact center testing and experience assurance, has announced a major expansion of its partner strategy that aims to transform the business to a 90%+ channel centric vendor within 5 years.

The increased focus on channel enablement aligns with the booming Contact Center as a Service (CCaaS) market, which Gartner projects reaching $17.9 billion by 2024 at Compound Annual Growth Rate (CAGR) of 29%[1]. The new Hammer global partner program represents a major overhaul of its channel strategy and coincides with the appointment of new channel leadership and launch of a new partner portal that includes deal registration and other enablement benefits to support and grow its global community of around 100 partners, including Presidio.

Led by Kacey Kemmerer, VP Sales and Channels, the program benefits from the experience of Rosemary Cormican, appointed as director of channels America earlier in the year. Cormican comes from F5 Networks where she led system integrator partnerships under NGINX Business Unit. Cormican has more than 20 years of experience working in sales, channel, and distribution. She successfully pioneered a large partner program at Cisco Systems and developed extensive go-to-market partner practices across various IT companies.

She is joined by Dominic Kleiren, Channel Director EMEA, who joins Empirix following his role of EMEA channel director at Binary Tree. Kleiren has over 10 years of experience working in channel within the UCaaS industry. He has held various channel positions at Intrado, Kollective Technologies and Quest Software where he has consistently developed extensive partners. Both Cormican and Kleiren have been instrumental in creating the new Hammer partner program.

“Our channel strategy recognises that the CCaaS market opportunity is growing rapidly, and the channel is best placed to deliver the needed expertise to help their contact center and enterprise clients attain and maintain the highest levels of customer experience,” said Kacey Kemmerer. “The new program and portal will be joined by additional support including our first global distribution agreement that will be announced later this year.” Infovista acquired Empirix in April 2021, enabling its contact center end-to-end testing and assurance business to expand its footprint and reinforce its market leadership. Leveraging more than 20 years of experience and innovations, Empirix solutions based on Hammer technology accommodate all existing service pricing models including hybrid, cloud-based, on-premise, subscription based and perpetual licences. This flexibility helps selected partners to deliver contact center solutions with high-quality, profitable customer experiences across all voice, IVR and digital communication channels.

“The combination of our leading Hammer technology and our vision helps channel partners to deliver its capabilities in the most flexible way from simple resale all the way through to platform as a service. We have both the desire and resources to work with our partners across the world to build sustainable and growing businesses to capitalize on the demand from the market, more specifically customers migrating from traditional on-premise solutions to Contact Center as a Service platforms,” adds Rosemary Cormican.

“We are also actively recruiting a handful of targeted resellers in Europe and working with key strategic value-added partners to onboard them and help build out regional offerings through our local teams,” said Kemmerer. “For the last 12 months, the percentage of our business that comes from the channel has consistently grown and we believe that becoming a 90% channel centric business by 2026 is both achievable and beneficial to us and our partner community,” concludes Dominic Kleiren.

[1] Forecast Analysis: Contact Center, Worldwide by Daniel O’Connell and Megan Fernandez – January 2021 https://www.gartner.com/document/3995677

About Empirix

The largest contact centers around the world rely on Empirix and its proven Hammer technology to guarantee optimal customer experience and business outcomes. Through automated end-to-end testing and assurance solutions that mimic real-world citizen and customer engagement, Empirix ensures its clients deliver high-quality communications across voice, IVR and digital channels. Empirix solutions play a pivotal role in ensuring excellence in day-to-day operation of more than 250 large enterprises, including 6 of the top 10 global banks, 8 of the top 10 healthcare global organizations and 7 of the top 10 largest insurance companies. www.empirix.com

Contact:
Infovista
Alexandre Le Coq
alexandre.lecoq@infovista.com

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Element Finance Raises Second Fund to Lend $40M to Growing SaaS Companies

The fund is set to be used to assist growing SaaS companies by providing them with access to revenue-based finance and term loans.

Element Finance

Element Finance

SAN ANTONIO, Oct. 12, 2021 (GLOBE NEWSWIRE) — Element Finance, a leading provider of growth funding offering flexible and capital-efficient venture debt and revenue-based finance solutions, has announced the raise of its second fund, giving it access to over $40 million. The investment comes from both new and original investors from the firm’s initial $14.5 million fundraising effort.

Element Finance provides alternative growth finance to SaaS companies with recurring revenue to help bridge the funding gap. The team prides itself on its partnership approach and flexible funding up to $10 million with no board seats, personal guarantees, or equity warrants.

Element Finance is led by seasoned SaaS operators and General Partners: Lew Moorman, former President of Rackspace; Ed Byrne, Entrepreneur; and John Gallagher, CEO and Partner. The management team has a proven track record of guiding founders, such as Athletic Greens, Mural, and Chargify, through the challenges they faced when they need flexible finance options to grow without dilution.

Element Finance plans to use the fund to help growing SaaS companies build a robust capital stack by giving access to revenue-based finance and term loans.

“The closure of this funding round marks a significant milestone for Element Finance,” said Gallagher. “These funds will allow us to provide finance solutions to more high-quality companies that need a capital partner for the long term and can benefit from debt finance instead of dilutive equity raises. Many of the current finance offerings we see are misaligned with the needs of their customers. We believe in using the right type of capital for the right use and are committed to providing SaaS founders a simple alternative funding option to address historical limitations.”

For more information, please visit www.elementfinance.com.

About Element Finance

Let’s face it. Not all debt is created equal. We believe there’s a different way to grow, and finance should be straightforward and tailored to the needs of a fast-growing business. Founded in 2019, Element Finance is a leading provider of growth funding, offering flexible capital-efficient, finance solutions. The team has a proven track record of guiding founders, such as Athletic Greens, Mural, and Chargify, through the challenges they faced when they needed funding to grow without dilution.

Our alternative venture-debt finance provides a better way to build a capital stack, turning MRR into ARR to bridge the SaaS funding gap through fixed-rate term and revenue-based finance loans, as well as venture-debt term loan solutions. Our straightforward finance options are customized to the needs of the business with no hidden terms and conditions, board seats, personal guarantees, or equity. We believe in relationships and the people behind the products. We take a personal, partnership-led approach to learn your business and support your growth.

Contact Information

Jamie Short

Marketing Director

Jamie@ElementFinance.com

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Foster + Partners Completes Strategic Partnership With Hennick & Company

LONDON and TORONTO, Oct. 12, 2021 (GLOBE NEWSWIRE) — Foster + Partners today announced that it has completed a strategic partnership with Hennick & Company, a private family investment firm founded by the Hennick family (“HennickCo”).

For Foster + Partners, this new partnership is an important step in the evolution of the practice and will encourage further growth and innovation while maintaining its distinctive culture. The long-term agreement establishes a ‘perpetual partnership model’ that enables the practice to expand beyond its current 180 partners, ensures that the next generation of professionals can become shareholders in the practice, and allows for an orderly succession of existing partners over the long-term. At a general meeting of the shareholders, 100% of the partners voted and were unanimous in their support of the partnership with HennickCo.

Going forward, Lord Norman Foster and his family will remain the practice’s largest shareholders after the Hennick family who acquired a significant interest as part of this transaction. The practice’s existing partners will all remain as long-term shareholders and retain the balance of the equity. Lord Foster, who founded the practice in 1967 with his late wife Wendy, will continue to serve as Executive Chairman. All present partners will remain in their current roles and the existing leadership team will retain responsibility for day-to-day operations, thereby maintaining the integrity of the practice’s design ethos and providing long-term stability for the professionals who are central to its success, now and in the future.

To mark the occasion, Foster + Partners also announced that 24 of the current Partners were promoted to the position of Senior Partner.

Foster + Partners

Foster + Partners is a global studio for architecture, infrastructure, design, and engineering services. Its team of 1500 is headquartered in London, with studios in 13 other cities (Abu Dhabi, Bangkok, Beijing, Buenos Aires, Dubai, Hong Kong, Madrid, New York, San Francisco, Shanghai, Shenzhen, Singapore and Sydney). The average age of the team is 36, it commands over 65 languages and counts more than 200 skills by qualification.

Its landmark buildings include the Great Court at the British Museum in London, the Reichstag German Parliament in Berlin, the Museum of Fine Arts in Boston, the Norton Museum of Art in Palm Beach, and the Narbo Via Museum of Roman Antiquities in Narbonne, France. The practice also designed the Hongkong and Shanghai Bank Tower in Hong Kong and the Commerzbank Tower in Frankfurt, as well as the corporate headquarters for Apple in California, Bloomberg in London, and Comcast in Philadelphia.

Foster + Partners also has experience delivering large scale infrastructure projects, such as the international airports in Hong Kong, Stansted, Beijing and Amman, sporting venues including Wembley Stadium in London and Lusail Stadium in Qatar, and bridges such as the Millau Viaduct in France and the Millennium Bridge in London over the River Thames. The practice’s projects currently under construction or shortly about to start on site include the new headquarters for JP Morgan in New York, the Prado Museum in Madrid, the One Beverly Hills development in Los Angeles, the Museo de Bellas Artes in Bilbao, Spain and InnHub La Punt, Switzerland.

Lord Foster, Executive Chairman, Foster + Partners, said –

“Towards the end of last year, we started to explore long-term structures for the practice that would respond to the challenges and opportunities of growth and encourage the next generation of leadership and this partnership is the culmination of that process. We are delighted to be joining forces with the family trust of the Hennick’s, who share our values and the pursuit of excellence. This evolution has the potential to expand the range and depth of our studio – particularly in the fields of sustainability, infrastructure, urbanisation and recycling.”

Matthew Streets, Managing Partner, Foster + Partners, said –

“Our new partnership further fortifies the strong foundation upon which our practice was built. HennickCo’s long-term investment horizon and partnership philosophy were important factors in our decision to align with them. On behalf of all the professionals and partners of Foster + Partners, we could not be more excited about the future.”

Bradley Hennick, Managing Director, HennickCo, said –

“We are proud to partner with Lord Foster, his family and the other highly accomplished professionals and partners of this iconic global brand. This new partnership presents a unique opportunity to leverage our experience and long-term perspective to strengthen Foster + Partners’ position as the world’s preeminent architecture, infrastructure, engineering, and design consultancy. We look forward to working with the practice’s exceptional leadership team and partner shareholders to harness the extraordinary skills within the practice to grow into new and exciting areas in the years to come.”

About Hennick & Company

Hennick & Company is a private family investment firm that invests in high quality, growth-oriented businesses and real estate for the long-term. Established by the Hennick family, which founded and owns a significant interest in Colliers International and FirstService Corporation, HennickCo has made investments in professional services, financial services, and manufacturing businesses as well as institutional quality real estate properties. As a privately-owned company backed by permanent capital, HennickCo can invest in any industry or geography, in private or publicly traded businesses, at any point in the economic cycle. The firm does not have pre-determined investment hold periods and operates in an entrepreneurial fashion consistent with its founding. HennickCo’s goal is to identify, invest in and participate in the growth of great businesses and high-quality real estate assets in partnership with strong leadership teams. To learn more about HennickCo, please visit our website at www.hennick.com

For further information
Katy Harris
Foster + Partners
press@fosterandpartners.com
www.fosterandpartners.com

AirRetailer Among First to Receive DUAL IATA New Distribution Capability (NDC) Level 4 Certification on Schema 21.1

•AirRetailer, the airline retailing based Corporate Booking and Expense Management tool, as IT Provider, is NDC-Capable Level 4 on schema version 21.1.•NDCAggregator.com the air content aggregator from AirRetailer, is NDC-Certified Level 4 on schema version 21.1

AirRetailer achieves IATA NDC Dual Level 4 Certification

AirRetailer achieves IATA NDC Dual Level 4 Certification

KANNUR, India, Oct. 12, 2021 (GLOBE NEWSWIRE) — AirRetailer – specialized in Airline Retailing, NDC Offer & Order Management and multi-source airline content aggregation and normalization – is one of the first to achieve Dual New Distribution Capability (NDC) certification on schema version 21.1 from the International Air Transport Association (IATA).

NDC (New Distribution Capability) is a travel industry-supported program launched by IATA for the development and market adoption of a new, XML-based data transmission standard to communicate between airlines and travel agents, directly or via aggregators. As of date, 102 airlines have been certified by IATA on different Levels.

IATA certifies AirRetailer, both as an IT Provider and as an Aggregator on Level 4 on schema version 21.1.

Airlines optimally distribute their products and services through their own website channels and now adopting New Distribution Capability, the industry is looking forward to replicate the same functionality in indirect channels used by travel agents and other intermediaries.

Yanik Hoyles, Director, Distribution IATA said: “Congratulations to AirRetailer for achieving Level 4 NDC Certification on schema 21.1 both as an IT Provider and Aggregator. As an NDC certified Aggregator and IT Provider, AirRetailer is helping airlines to redefine their distribution strategy by enabling full servicing and product differentiation across all channels while supporting the business travel value chain’s adaptation to the world of airline retailing.”

Sreejith Kunniyoor, AirRetailers’ Vice President Products said: “While AirRetailer is busy building an easily navigable, scalable end to end corporate booking and expense management tool, we are extremely proud to receive the dual NDC Level 4 certification from IATA as an IT Provider and Aggregator on the latest NDC Schema 21.1.

“AirRetailer Corporate Booking and Expense Management Tool will be a simpler and seamless tool both for the Corporate Travel and Spend Decision Makers as well as the end users while NDCAggregator.com will assist the Travel Management Companies to access aggregated and normalized airline content from GDS, NDC & LCC-based sources in one single screen.”

The integration of IATA Financial Gateway (IFG) as a single universal payment orchestration platform to AirRetailer Corporate Booking and Expense Management tool and NDCAggregator.com helps streamline the payment process by facilitating acceptance and enabling increased travel payment processing flexibility for the world’s airlines and travel suppliers to build a cost-efficient payment strategy that will help facilitate the industry’s recovery.

More details on IATA New Distribution Capability is available here

More details on IATA Financial Gateway (IFG) is available here

About AirRetailer

AirRetailer is based on Airline Retailing – one of the biggest industry disruptions in recent years and the latest development in airline sales and distribution. AirRetailer offers two products – a new generation corporate booking and expense management tool for Corporate Travel and Spend Decision Makers, Travel Management Companies and Airlines as well as a mobile application for the end users  and NDCAggregator.com – a multi-source airline content aggregation and normalization tool for Travel Management Companies to access aggregated and normalized airline content from global distribution system – and New Distribution Capability-based sources, in one single screen.

For further information on AirRetailer, visit www.airretailer.com or www.ndcaggregator.com

Press Contact
Anusree Sreejith
Media Contact
AirRetailer Technology Private Limited
Email anusree@airretailer.com

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Promptlink Expands CPE Atlas Testing Capability to Include Wi-Fi 6e and Multi-Gigabit Ethernet

CPE Atlas Provides Operators, 3PLs and Certification Labs with the Latest Technology to Test Broadband CPE

Promptlink CPE Atlas

Promptlink CPE Atlas

OCEANSIDE, Calif., Oct. 12, 2021 (GLOBE NEWSWIRE) — Promptlink Communications, Inc., a leading provider of software applications for broadband network management and customer premise equipment testing, announced today that it has launched support for Wi-Fi 6e wireless testing, as well as multi-gigabit Ethernet testing. This advancement gives customers the ability to certify the latest broadband CPE devices to the full capability of the Device Under Test (DUT). Promptlink is shipping CPE Atlas systems equipped with these upgrades today.

Promptlink’s CPE Atlas is currently helping Promptlink’s globally installed customer base to certify and recertify broadband CPE devices. This has become even more critical considering the global component shortages affecting delivery of factory-new CPE. CPE Atlas allows customers to maximize the deployment of current and recently received CPE by providing a shielded Wi-Fi environment to test the full functionality of broadband CPE. Current CPE technology, either DOCSIS, PON, DSL and or wireless routers, may have Wi-Fi 6e plus a 2.5GB Ethernet port that needs to be tested. With this added support, CPE Atlas can qualify all these devices and all previous Wi-Fi and Ethernet technology in a single, Wi-Fi shielded test platform. CPE Atlas is deployed worldwide to major cable and telecommunications operators, along with certification labs and resellers of recertified CPE equipment.

“Promptlink has responded to customer requests for this technology to be added to our patented Wi-Fi testing systems,” said Dr. Foad Towfiq, President and CEO of Promptlink Communications. “Promptlink always provides the most complete, most advanced CPE testing options to help meet the demands of our global customer base. Wi-Fi 6e and multi-gigabit Ethernet support is simply the next step in this evolution.”

About Promptlink Communications

Promptlink Communications has been providing software and system integration solutions to the broadband industry since 1994. Promptlink Communications is an innovative company with a focus on the development and deployment of tools for broadband network service providers. Promptlink customers have included all major telecommunications operators in the Americas and around the world.

Promptlink Communications is a privately held company headquartered in Oceanside, California. Promptlink offices can be found in North America, Latin America, and Europe.

Learn more at www.promptlink.com.

Media Contact

Christopher J. Boring
VP, Sales & Marketing
Promptlink Communications, Inc.

chris.boring@promptlink.com

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Teledyne DALSA’s 16k multifield TDI camera captures multiple images in a single scan

Linea HS 16k Multifield TDI

The Linea HS 16k Multifield TDI camera significantly improves inspection speeds and image quality

WATERLOO, Ontario, Oct. 12, 2021 (GLOBE NEWSWIRE) — Teledyne DALSA is pleased to announce that its Linea™ HS 16k Multifield TDI camera is in volume production. The Linea HS 16k Multifield can capture up to three images simultaneously in a single scan using light sources at different wavelengths. Its charge-domain CMOS TDI sensor with 16k x (64+128+64) TDI arrays and a 5×5 μm pixel size, uses advanced wafer-level coated dichroic filters with minimal spectral crosstalk to spectrally isolate the three images. The camera also comes with high-speed CLHS interface, delivering up to 8.4 Gigapixels per second over a single and long length fiber optic cable.

“Advanced multifield imaging technology is what differentiates the Linea HS 16k Multifield camera from other line scan cameras,” said Xing-Fei He, Senior Product Manager, Teledyne DALSA. “The dichroic filters overcome spectral crosstalk of traditional color filters and enable image isolation within the spectral domain.”

The Linea HS 16k Multifield camera significantly improves inspection speeds and image quality. It eliminates the need for multiple scans, thereby boosting inspection system throughput and improving detectability with minimum impact from mechanical vibration. The Linea HS is ideally suited for applications such as inspection of flat panel displays, printed circuit boards (PCB), and semi-conductor wafers; web inspection of film and metal foil; general purpose machine vision and life science applications.

The camera can also be used for color imaging with a white light source. The spectral characteristics of dichroic filters provide unique color representation that can be used to improve detectability.

Key Features:

  • Captures three field images at once in a single scan
  • High speed line rate of 133 kHz x 3
  • High sensitivity multi-array TDI
  • Bi-directional scanning
  • Assisted alignment marks

For more information visit the website. For high quality images, please visit our online media kit.

Teledyne DALSA is a part of Teledyne’s Vision Solutions group and a leader in the design, manufacture and deployment of digital imaging components for machine vision. Teledyne DALSA image sensors, cameras, smart cameras, frame grabbers, software, and vision solutions are at the heart of thousands of inspection systems around the world and across multiple industries. For more information, visit www.teledynedalsa.com/imaging.

All trademarks are registered by their respective companies. Teledyne reserves the right to make changes at any time without notice.

Media Contact:
Brooks Riendeau
Vice President of Marketing
613-736-4077 ext. 120
brooks.riendeau@teledyne.com

Sales Contacts:
sales.americas@teledyne.com
sales.europe@teledyne.com
sales.asia@teledyne.com

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Webtel.mobi’s System Brings the World’s 2 Billion Unbanked Persons – And Global Cash Use – Into a Global Digital Economy

WM’s years of detailed testing and optimization has enabled its System to include all Unbanked Persons and all Cash Payments in all countries worldwide into the 21st Century Digital Economy. Solves entrance issues for two of the world’s largest single market-sectors

A TUV for 11 000 Kenyan Shillings – equivalent to approximately USD 100
A TUV for 11 000 Kenyan Shillings – equivalent to approximately USD 100. The Kenyan Shilling is one of the Currencies for which the TUV is used by Unbanked Persons as a subsititute for cash
A TUV for 3 300 Thai Baht – equivalent to approximately USD 100
A TUV for 3 300 Thai Baht – equivalent to approximately USD 100. The Thai Baht is one of the Currencies for which the TUV is used by Migrant Workers for remitting funds home as a substitute to legacy-system transfer or remittances services

ST PETER PORT, Guernsey and NEW YORK, Oct. 12, 2021 (GLOBE NEWSWIRE) — Global Telephony Provider Webtel.mobi (“WM”) has spent years perfecting and optimizing its TUV Global Digital Currency and its Global Clearing System. Its structuring and refinements included facilitating the inclusion of all the world’s Unbanked Persons and Cash Payments into its ecosystem – as described below:

Situation

Cash
All current planning for a Global Digital Economy or a Global Cashless Society is based on flawed assumptions that the usage of Cash is declining, and the use of Digital Money is increasing. These assumptions are wrong. Cash usage is increasing globally and has been doing so, year-on-year, for the past decade. This includes the usage of Cash in Developing and Developed countries. On average, 50% of all transactions, worldwide, are carried out with Cash. No planning for “Cashless Societies” or “Digital Economies” has taken this into account because echo-chamber discussion on these matters presuppose that the entire world functions in the same manner as high-tech cities in Developed Countries – but it does not. Part of the Cash market uses Cash due to choice, and part of it uses Cash because the persons are Unbanked. Cash Payments and the use of Cash represent the largest single market-sector in the world (see the “Resources” section at the end of this article).

Unbanked Persons
Part of the market utilizing Cash are the +/- 2 Billion persons in the Unbanked Sector worldwide. This sector represents people who do not have bank accounts either because of the lack of infrastructure in countries, lack of banks in rural areas, lack of access to reach physical banks from rural areas, lack of online banking facilities, the cost of maintaining bank accounts and of transfers and payment, and the lack of KYC documentation.

Causes
The reasons for the predominance of Cash usage internationally are due to two factors, choice, and force of circumstance:

Choice (due to a variety of reasons, including):

  • The cost of opening and maintaining Bank Accounts
  • The costs of Digital Payments
  • The multiple varieties of fraud possible in Digital and Card Payments
  • Chargebacks to Merchants
  • Late settlement to Merchants and high retention fees to Merchants

Force of circumstance (due to a variety of reasons, including):

  • Lack of Identity Documents / Utility Bills / other documents to satisfy KYC Requirements
  • The cost of opening and maintaining Bank Accounts
  • The costs of Digital Payments
  • Lack of national infrastructure for people to reach towns or cities to access Banks
  • Lack of Banking Infrastructure
  • Lack of Support Infrastructure for Online Payment problems
  • Lack of Infrastructure for ATM placement (for conversion of Digital to Cash when needed)
  • Inability of current systems to render digital payments as instant payouts to Merchants
  • Inability of current systems to provide conversion between all currencies
  • Inability of Mobile Apps to function on Pre-Smart Mobile Phones (50% of Phones in use)
  • Inability of Image-Rich and Dynamic (high bandwidth) websites and Mobile Apps to be used in high-cost internet / high-cost mobile data / slow bandwidth countries

Consequences
If using the erroneous views and planning to date, it will not be possible for a Digital Economy to be implemented worldwide, in a unified and standardized manner. If it cannot be implemented in a unified way worldwide, it cannot be implemented at all.

The largest single market-sector in the world by transaction value – Cash Payments – remains a fragmented market sector of 164 different currencies in 197 different countries (245 if including Territories), with no single company providing a unified global service with unified standards to this largest – and potentially most valuable – single market-sector in the world by transaction value.

The largest single market-sector in the world by sector – the +/- 2 Billion Unbanked Persons in the world – are ignored, and continue to labor under adverse circumstances. Those working as Migrant Workers have to remit funds while losing large percentages of their salaries in currency conversion fees and transfer costs. Others experience the dangers of carrying or keeping Cash, and are denied access to the advantages of the 21st Century Digital Economy – being de-facto Second-Class Digital Citizens.

How WM resolved all of these issues
During its nine years of fully operational testing and refinement worldwide, WM specifically structured its Global Financial System to cater for full inclusion of the Global Cash market and Global Unbanked Sector – including in-situ studies and research in Developing countries among Unbanked communities.

Not only has it resolved all of the issues, its system that resolved all the issues is fully tested, proven, due diligenced and fully-operational worldwide. It has resolved all the issues regarding both Cash Payments and Unbanked Persons – even eradicating the concept of “Banked” and “Unbanked” – consolidated the world’s Cash usage into one unified system with global standards, as follows:

Substitute KYC
WM developed a “Substitute KYC Documentation” system that facilitates a full and satisfactory KYC process for persons without Identification Documents, Utility Bills, and other forms of Personal or address identification. This has been so successful that these Substitute KYC Documents are used by their holders for a variety of non-WM activities too – as they are accepted by other parties independent of WM (see the “Resources” section of this article for an example of WM’s “Substitute KYC Documents”).

Enhanced AML Procedures
WM itself does not accept Cash. Persons using Cash to acquire TUV Digital Currency obtain it from WM’s VSMP Affiliates and Independent Agents, who have in advance transferred funds (“Stored Credit”) to WM for the value of the TUV Digital Currency that they issue. There are advanced AML processes for the acquisition of TUV Digital Currency using Cash – including limits on amounts, frequency, and other tested forms of effective AML – before, during, and after the acquisition of TUV Digital Currency for Cash.

“Best of Both” regarding Digital Money and Cash
WM’s TUV Digital Currency incorporated all the best characteristics of Cash (instant and simultaneous payment and receipt, zero transaction cost, 24/7/364 usability) with the best of Digital (secure storage, secure transfer, global reach, low currency conversion rates, AML, etc). WM also removed the negative aspects of both forms of currency (potential for counterfeiting, fraud, chargebacks, money laundering, etc)

Global distribution and accessibility
WM’s Online Platform is compressed, simplified, and optimized for use by all Smart Phones and Pre-Smart Mobile phones, including in high-cost internet / high-cost mobile data / slow bandwidth countries – including by the 75% of people on expensive prepaid contracts worldwide, and the 50% of Pre-Smart Mobile Phones worldwide. It is therefore deliverable, accessible by, and usable by all persons in all countries.

SCRM Machines and TUV Redemptions for Unbanked persons
For Unbanked persons to redeem TUV Digital Currency back to Cash, WM has developed its own kiosk for “Stored Credit” refund withdrawals – the “Stored Credit Refund machine” or “SCRM”. It is being rolled out in 2022. They are centrally controlled by WM, and are subject to the same security and other standards. They also have limitations on withdrawal amounts conformant with global regulatory standards. They also have mobile and battery-operated versions for remote area placement or access. WM also has a TUV Redemption Process where accredited WM VSMP Affiliates and Independent Agents can redeem TUVs for Cash – subject to stringent KYC and AML processes.

Non-interference with Money Supply, Monetary Policy or Currency Sovereignty
WM does not create or issue currency. It converts currency already issued by Central Banks into Digital Format, using the TUV as a vehicle. The funds (“Stored Credit”) remain in a regulated bank account for the life of the TUV. “Stored Credit” is not a payment, part-payment, or deposit, and remains the property of the owner (and therefore of the country of origin) until redeemed by the owner. As such, no exchange control regulations are contravened because the “Stored Credit” funds remain the property of the owner and issuing country until repatriated. In fact, if owners convert their “Stored Credit”, this has the effect of de-facto raising the issuing country’s foreign exchange reserves.

Zero Cost
Acquisition, Payments, Transfers, Splitting, Consolidation and Redemption of WM’s TUVs are at zero cost.

Through these tested, proven and fully operational structures and processes worldwide, WM has successfully resolved the entry of Unbanked persons and the cash economy into the 21st Century Digital Economy, and made it possible for a real and practical Global Digital Economy to exist.

The Global and Unified Digital Economy does not have to be waited for or striven for. With the WM System, it already exists.

Resources:

Media Contact:
Nick Lambert: wm@thoburns.com

G45 World Cash Report – Headline Facts:
https://www.g4scashreport.com/top-facts

G45 2018 World Cash Report:
https://www.g4scashreport.com/-/media/g4s/cash-report/files/2018-world-cash-report—english.ashx?la=en&hash=0F3BECD46B4820D7FA32112E99252AAB

Congressional Research Service – Cash Usage in the USA:
https://sgp.fas.org/crs/misc/R45716.pdf

Deutsche Welle – Cash Use in Germany:
https://www.dw.com/en/times-change-but-german-obsession-with-cash-endures/a-43718626

McKinsey and Co – Number of Unbanked Persons Worldwide:
https://www.mckinsey.com/industries/financial-services/our-insights/counting-the-worlds-unbanked

Wikipedia – Number of Unbanked Persons in the USA:
https://en.wikipedia.org/wiki/Unbanked#The_unbanked_in_the_United_States

WSBI – Number of Unbanked Persons in the European Union:
https://www.wsbi-esbg.org/press/latest-news/Pages/Close-to-40-million-EU-citizens-outside-banking-mainstream.aspx

WM Substitute KYC Document:
https://webtel.mobi/static/pdf/Personal_KYC_Substitute_Document.pdf

Research Reports on the Capacities of the WM System:
https://tinyurl.com/TUVresearch

Video on the Capacities of the WM System:
https://youtu.be/XYBrCikUhn8

WM’s urls:
https://webtel.mobi/pc (Tablets / Laptops / Desktops)
https://webtel.mobi (Smart Phones)
https://webtel.mobi/wap (Pre-Smart Mobile Phones)

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/31777266-792a-4ada-9405-f03136f769c3

https://www.globenewswire.com/NewsRoom/AttachmentNg/cd27d45e-ccef-44a5-9439-cc17df013bb7

Photos are also available at Newscom, www.newscom.com, and via AP PhotoExpress