Category Archives: Technology

EMTECH Launches as the Fintech of Modern Central Banking Innovation


NEW YORK – Today EMTECH announced its pilot-ready innovation and regulatory compliance platform, the Modern Central Bank Sandbox™, targeting central banks looking to streamline regulatory reviews, collaborate with innovators on emerging technology, or safely test their Central Bank Digital Currencies (CBDC). With the Modern Central Bank Sandbox™ EMTECH empowers central banks to overcome systemic challenges that currently exist within financial services (Exclusion, KYC, SME Lending, Cross-Border Payments, AML/Fraud), and to innovate safely, while providing effective oversight, and accelerating time to market for innovative financial products. EMTECH is actively working with the Central Bank of the Bahamas on the release of its Digital Sand Dollar currency.

Central banks today hold $9 Trillion in paper cash. In digitizing paper currency with CBDC, central banks create unprecedented liquidity that benefits small businesses and individuals while maintaining the central bank money as the anchor of a robust and competitive financial sector. By providing the infrastructure for digital cash, EMTECH provides central banks an action-ready toolset for new and inclusive monetary policy, and the guardrails for efficient transfer of an estimated $90 Trillion in cash payments.

“By enabling central banks to deploy the EMTECH Modern Central Bank Sandbox™, we help regulators leapfrog existing regulatory frameworks and systems, and adopt an innovation mindset as well as an innovation toolset,” said EMTECH CEO and co-founder Carmelle Cadet. “Our ability to help the leaders at central banks operationalize monetary and economic policy promotes multi-stakeholder collaboration and innovation, such as exposing CBDC Test APIs for industry testing. This is why EMTECH is the Fintech of Modern Central Banking,” Cadet said. Cadet is a former IBM Corporation Business Executive with experience in enterprise software, blockchain and global fintech innovation.

Central Bank Digital Currencies (CBDC) could change all financial relationships, according to the latest Deutsche Bank Wealth Management CIO report from Sept. 2020. Increased transaction speed, security and transparency, and more effective monetary policy are key benefits of CBDC, according to Deutsche Bank. EMTECH’s announcement today offers an actionable solution for secure and phased implementation of such initiatives worldwide. The firm is currently engaged with several central banks, and working with the leading cloud provider Microsoft, to deploy pilots in the coming months.

“Microsoft Azure is a key enabler of the digital transformation journey of customers all over the world. We look forward to helping EMTECH on its global mission to enable accelerated central bank digital innovation, harnessed on Microsoft’s highly secure, compliant and scalable Azure platform,” said Chris Lwanga, Principal Director, Microsoft Corporation.

The EMTECH leadership and founding team also includes D. R. Maurice, a finance industry regulator with an extensive portfolio of risk management duties, and who served at the Federal Reserve, The U.S Treasury Department, and as an advisor to central banks in emerging and transitional markets. EMTECH Chief Technology Officer Evgeni Mitkov is a veteran of Wallet Street, who brings extensive payments, FX and capital markets expertise, and has built, scaled, and sold two high frequency trading platforms.

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Chikodi Chima

Pinnacle Renewable Energy Adopts RingCentral Office to Support Remote Work

BELMONT, Calif. – RingCentral, Inc. (NYSE: RNG), a leading provider of global enterprise cloud communications, collaboration, and contact center solutions, today announced that Pinnacle Renewable Energy (TSX: PL), an industrial wood pellet manufacturer and distributor, has adopted RingCentral Office®, a unified communications solution that includes team messaging, video meetings and a cloud phone system to enable a sustainable, employee-centric remote working environment for today and the future.

Pinnacle Renewable Energy is one of the world’s leading manufacturers and distributors of industrial wood pellets. The company produces sustainable fuel for renewable electricity generation, delivering a greener alternative for large-scale thermal power generators. With multiple remote locations across the U.S. and Canada, Pinnacle needed a communications platform that is flexible, reliable and available regardless of the limitations in phone services at its geographical locations. With the result of the COVID-19 global pandemic, the need to adopt a work from anywhere environment enhanced the necessity further. With RingCentral’s unified communications capabilities, Pinnacle was able to modernize their business communications infrastructure and maintain a high level of productivity among employees.

“When we shifted to a complete remote work environment, we were able to seamlessly transition from our old legacy on-premise phone system to RingCentral with zero interruption to employee productivity,” said Neil Lertnamvongwan, Information Technology Director at Pinnacle. “We’ve also cut our communications systems costs by nearly 40 percent with the mobile-first unified communications solution. The ability to make voice and video calls from anywhere, on any device and easily switch modes has allowed us to operate more efficiently than ever before. Simultaneously, we’ve been able to reduce waste by eliminating our desktop phones, which delivers on our mission of continued sustainability.”

Key benefits to Pinnacle of switching to RingCentral include:

  • Multimodal communications: Each Pinnacle employee has access to full unified communications capabilities including team messaging, video meetings and phone calls.
  • Open Platform: Enables Pinnacle to integrate communications with other enterprise cloud solutions for greater productivity.
  • Simplified Administration: New Employees and locations can be onboarded immediately as soon as the need arises.
  • Team Engagement: With RingCentral Video, Pinnacle can host everything from customer meetings, team-huddles, corporate announcements to lunch-and-learns with more widespread engagement than ever before.
  • Cost Savings: With RingCentral’s mobile-first cloud solution, Pinnacle has cut their communications solutions bill nearly in half.
  • Sustainability: Deploying RingCentral has helped Pinnacle operate more nimbly and productively with a smaller environmental footprint. Operations have become more efficient through reduced overhead expense and removal of underutilized and inefficient hardware, creating a workplace where employees can live their values.

“We’re proud to work with Pinnacle to build their workplace of the future, balancing employee productivity and their deep commitment to sustainability,” said Will Moxley, chief product officer at RingCentral. “We’re inspired by the success Pinnacle has achieved, especially during these uncertain times. It speaks to our core mission of delivering a seamless communications experience for our customers, as they navigate the new norm of working from anywhere.”

About RingCentral

RingCentral, Inc. (NYSE: RNG) is a leading provider of cloud Message Video Phone™ (MVP™), customer engagement, and contact center solutions for businesses worldwide. More flexible and cost-effective than legacy on-premise PBX and video conferencing systems that it replaces, RingCentral empowers modern mobile and distributed workforces to communicate, collaborate, and connect via any mode, any device, and any location. RingCentral’s open platform integrates with leading third-party business applications and enables customers to easily customize business workflows. RingCentral is headquartered in Belmont, California, and has offices around the world.

© 2020 RingCentral, Inc. All rights reserved. RingCentral, RingCentral Office, RingCentral Video, Message Video Phone, MVP and the RingCentral logo are trademarks of RingCentral, Inc.

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Lela Gradman