Day: April 11, 2022

Vaix Technology Enhances Sportradar’s Managed Trading Services (MTS) Platform, Which Helps Betting Operators Increase Engagement and Retention

ST. GALLEN, Switzerland and LONDON, April 11, 2022 (GLOBE NEWSWIRE) — Sportradar (NASDAQ: SRAD) (“Sportradar” or “the Company”), the leading global sports technology company creating immersive experiences for sports fans and bettors, today announced the acquisition of Vaix Limited, a pioneer in developing Artificial Intelligence (AI) solutions specifically designed for the iGaming industry. Vaix’s innovative AI technology allows betting and gaming operators to gain a personalized view of their customers, which enables them to provide a more targeted, player-friendly experience. For example, betting and gaming operators can offer users the best possible bet without searching and give them the right offer based on players’ future value and churn probability. The acquisition does not have a material impact on the Company’s annual outlook for 2022, provided on March 30, 2022.

For over two years, Sportradar has partnered with Vaix and incorporated its technology into its Managed Trading Services (MTS) offering. Sportradar’s MTS solution is a sophisticated trading, risk, live odds and liability management offering that helps betting operators boost margins and profits, while increasing efficiency and managing risk. The MTS solution is also increasingly important in the U.S. market, which is growing rapidly post legalization in 2018, as U.S. operators compete for customers. Vaix’s advanced AI learning capabilities will provide betting operators already engaged with Sportradar’s platform the opportunity to gain access to more personalized insights and suggestions relating to user preferences.

Founded in 2016 by John O’Malia and Andreas Hartmann, Vaix has fed over 60 billion transactions into its AI (60 million per day) to offer a personalized experience to more than 50 million users for tier 1, 2 and 3 operators and platforms on all continents. Winner of several awards and recognized as one of the best service providers in the online gaming industry, Vaix most recently received the 2021 Data and AI Partner Award at the EGR B2B Awards.

Paolo Personeni, Managing Director of Managed Betting Services at Sportradar said: “VAIX products with their Artificial Intelligence and algorithms are now being natively integrated as part of the Sportradar Sportsbook platform, enhancing our data analytics, promotions system and player personalization. All Managed Betting Services customers will enjoy a faster and simplified integration. The acquisition of Vaix is the culmination of a very important and productive partnership we have had with the company over two years.”

Andreas Hartmann, Co-founder and CEO at Vaix, said: “Fully joining forces with Sportradar is recognition of the power of Vaix’s technology, and a dream come true for our vision to bring AI to the entire iGaming industry. Vaix’s capabilities can provide all of Sportradar’s operators with the power to truly personalize their Offering, Marketing and CRM, as they seek to attract and engage players.”

Terms of the acquisition are not disclosed.

About Sportradar
Sportradar is the leading global sports technology company creating immersive experiences for sports fans and bettors. Established in 2001, the company is well-positioned at the intersection of the sports, media and betting industries, providing sports federations, news media, consumer platforms and sports betting operators with a range of solutions to help grow their business. Sportradar employs more than 2,900 full time employees across 20 countries around the world. It is our commitment to excellent service, quality and reliability that makes us the trusted partner of more than 1,700 customers in over 120 countries and an official partner of the NBA, NHL, MLB, NASCAR, UEFA, FIFA, ICC and ITF. We cover more than 890,000 events annually across 92 sports. With deep industry relationships, Sportradar is not just redefining the sports fan experience; it also safeguards the sports themselves through its Integrity Services division and advocacy for an integrity-driven environment for all involved.

Sportradar and the Sportradar logo are registered trademarks of Sportradar. All other third-party trademarks and logos contained in this press release are the property of their respective owners.

About Vaix
Vaix’s mission is to be iGaming’s most comprehensive and effective AI engine. As the industry’s pioneer, Vaix is supporting innovative operators on all continents to utilize Deep Learning for more than 45 million users in the use cases where it matters most: Acquisition & Marketing, Personalization and Responsible Gambling. Visit us at www.vaix.ai.

Press Contact:
Sportradar:
Sandra Lee
comms@sportradar.com

Vaix:
Andreas Hartmann
contact@vaix.com

Sportradar Investor Relations Contact:
Rima Hyder
investor.relations@sportradar.com

• The Life Cycle Assessment (LCA) by Benchmark Mineral Intelligence will focus on assessing the potential life cycle environmental impacts of TMC’s planned metal production project from nodules collected from its NORI-D area expected to commence in 2024
• The study will also provide an independent assessment of how the lifecycle environmental impacts of producing metals from the NORI-D Nodule Project compare to producing the same metals from a range of conventional production scenarios from land ores
• An independent LCA study of TMC’s nodule project follows several years of investment by TMC in peer-reviewed industry-level LCA research to understand global environmental and social impacts of producing battery metals from two sources: land ores and seafloor nodules

NEW YORK, April 11, 2022 (GLOBE NEWSWIRE) — TMC the metals company Inc. (Nasdaq: TMC) (“TMC” or “The Metals Company”), an explorer of lower-impact battery metals from seafloor polymetallic nodules, today announced that it has chosen the leading lithium-ion battery supply chain research firm, Benchmark Mineral Intelligence (“Benchmark”), to conduct an independent life cycle assessment of the environmental impacts of the Company’s planned NORI-D Polymetallic Nodule Project and compare these impacts to producing the same metals from commonly used production pathways using conventional land ores.

The Benchmark LCA study will investigate the potential cradle-to-gate impacts of producing important battery materials including nickel sulfate, cobalt sulfate, copper cathode, manganese silicate and an intermediate NiCuCo matte product from seafloor polymetallic nodules in the NORI-D area. These raw materials are widely used as active cathode materials (CAM) for NMC and other nickel-rich cathode chemistries for lithium-ion batteries, enabling the rapid growth of electrified transport and energy storage. The study will draw upon the Initial Assessment of the NORI-D Property independently compiled by AMC in accordance with the SEC Regulation S-K (subpart 1300) in March 2021 and a range of processing plant location scenarios developed by TMC since then. The Benchmark team will also include an additional third-party verification of the NORI-D Project LCA to ensure its compliance with ISO14040 and 14044 guidelines and standards.

The LCA specialists at Benchmark will draw upon their extensive global baseline impact data of battery precursor materials derived from conventional ores to produce a comparison to the NORI-D Project LCA across multiple categories including global warming potential and disruption of carbon sinks (CO₂ equivalent emissions), waste, water and land use, terrestrial acidification, freshwater and marine eutrophication. Benchmark anticipates completing its comprehensive LCA for TMC in mid-Summer 2022.

Where should metals for the clean energy transition come from?

“Since 2019 TMC has been digging into the data to build a planetary perspective on the impacts of sourcing the metals we will need to electrify one billion EVs,” said Erica Ocampo, Chief Sustainability Officer for The Metals Company. “Our investment in this research has led to the publication of several comparative LCA papers, including a comprehensive white paper covering ~20 impact indicators and two peer-reviewed papers on climate change impacts and waste impacts published in high-impact journals. Based on this work and at a time when the hunt for new mineral resources is expanding into the most biodiverse carbon sinks on the planet, we believe that the polymetallic nodule resource could offer a better way forward to meet the massive metal demand of the clean energy transition. But this is the first time we are commissioning an LCA specifically for our NORI-D Nodule Project, rather than a global EV demand scenario. With first production expected in 2024, we’re delighted to have Benchmark’s independent assessment of how our NORI-D Project stacks up against the known impacts of current land-based supply.”

Charlotte Selvey Miller, Head of ESG at Benchmark, commented: “Benchmark’s ESG division publishes independent assessments, including Global Baseline LCA data, on the lithium-ion battery supply chain and how companies are working towards and managing environmental, social and governance risks and concerns, which is providing detailed insights and ESG metrics not yet seen before in the industry. Through comparing company-specific LCAs, such as this one for The Metals Company, to the Benchmark Global Baseline LCAs, we create the ability to compare processes to an industry average. This allows companies to effectively analyze the ESG risks and opportunities associated with projects to environmentally streamline their processes and approach. Considering the up-scale in global demand, this type of work is an important step in minimizing the upstream impacts of feeding global electrification and the clean energy transition.”

Amid a historic decline in ore grades and in the face of rapidly rising demand, the search for new sources of metals for the clean energy transition risks exacerbating the planetary and social impacts of mining on land. Production of energy transition metals will need to increase six-fold by 2040 to meet the world’s ambitious climate targets, according to the International Energy Agency. The TMC’s portfolio of nodule projects contains an estimated in situ resource of battery metals equivalent to the requirements for 280 million electric vehicles – or the size of the entire U.S. light vehicle fleet.

In January, TMC announced the publication of a peer-reviewed study in the Yale Journal of Industrial Ecology which found that seafloor polymetallic nodules could significantly reduce — and in some scenarios eliminate — the onshore solid waste streams typically generated by metal production from land ores. An earlier peer-reviewed study – published in the Journal of Cleaner Production – found that sourcing critical battery metals from seafloor nodules could reduce the lifecycle climate impacts by up to 90%, compared to land ores.

About The Metals Company

TMC the metals company Inc. (The Metals Company) is an explorer of lower-impact battery metals from seafloor polymetallic nodules, on a dual mission: (1) supply metals for the clean energy transition with the least possible negative environmental and social impact and (2) accelerate the transition to a circular metal economy. The company through its subsidiaries holds exploration rights to three polymetallic nodule contract areas in the Clarion Clipperton Zone of the Pacific Ocean regulated by the International Seabed Authority and sponsored by the governments of Nauru, Kiribati and the Kingdom of Tonga. More information is available at www.metals.co.

About Benchmark Minerals Intelligence

Benchmark is the world’s leading provider of actionable intelligence for the lithium-ion battery and electric vehicle supply chain. Benchmark’s expertise, together with unique and rigorous data collection processes, add real knowledge to opaque industries that are central to the lithium-ion economy. Their services guide the biggest investment decisions, government policy and industry collaboration around the world. Benchmark’s expertise is reinforced by its ESG division that offers a set of subscription and consultancy services providing robust metrics and Life Cycle Assessments measuring the sustainability of the EV supply chain build out. Benchmark ESG provides bespoke independent assessments of the material risks organizations face and investor-driven analysis, driving ESG through the heart of the EV supply chain’s companies. Benchmark ESG assessments assist in reducing future compensation associated with poor ESG risk identification in an industry where sustainability is being widely critiqued.

From the mine to cathodes and anodes, through to the lithium-ion battery cell, Benchmark’s entire supply chain approach is unique and relied upon the world over. More information is available at http://www.benchmarkminerals.com                           

More Info

Media | media@metals.co
Investors | investors@metals.co

Forward Looking Statements

Certain statements made in this press release are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. The forward-looking statements contained in this press release include, without limitation, statements that waste streams could be reduced by using deep-sea nodules. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside TMC’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: the outcomes of research conducted by third parties including the Life Cycle Assessments; regulatory uncertainties and the impact of government regulation and political instability on TMC’s resource activities; changes to any of the laws, rules, regulations or policies to which TMC is subject; the impact of extensive and costly environmental requirements on TMC’s operations; environmental liabilities; the impact of polymetallic nodule collection on biodiversity in the CCZ and recovery rates of impacted ecosystems; TMC’s ability to develop minerals in sufficient grade or quantities to justify commercial operations; the lack of development of seafloor polymetallic nodule deposit; uncertainty in the estimates for mineral resource calculations from certain contract areas and for the grade and quality of polymetallic nodule deposits; risks associated with natural hazards; uncertainty with respect to the specialized treatment and processing of polymetallic nodules that TMC may recover; risks associated with collection, development and processing operations; fluctuations in transportation costs; testing and manufacturing of equipment; risks associated with TMC’s limited operating history; the impact of the COVID-19 pandemic; risks associated with TMC’s intellectual property; and other risks and uncertainties, including those in the “Risk Factors” sections, included in the final prospectus and definitive proxy statement, dated and filed with the Securities and Exchange Commission (the “SEC”) on August 12, 2021 relating to the business combination, in TMC’s Annual Report on Form 10-K for the year ended December 31, 2021, filed by TMC with the SEC on March 25, 2022, and in TMC’s other future filings with the SEC. TMC cautions that the foregoing list of factors is not exclusive. TMC cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. TMC does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based except as required by law.

Meat Substitutes Market is projected to grow at a CAGR of 13.5%

Chicago, April 11, 2022 (GLOBE NEWSWIRE) — The report “Meat Substitutes Market by Source (Soy Protein, Wheat Protein, Pea Protein, and Other Sources), Product (Tofu, Tempeh, Seitan, Quorn, and Other Products), Type (Textured, Concentrates, and Isolates), Form, Category, and Region – Global Forecast to 2027”, published by MarketsandMarkets™, was estimated at USD 1.9 Billion in 2021; it is projected to grow at a CAGR of 13.5% to reach USD 4.0 Billion by 2027.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=979

Overview:

A meat substitute, also called meat analog, is a product that contains certain aesthetic qualities, such as flavor, texture, appearance, and chemical characteristics of specific types of meat, such as pork, beef, and chicken. These meat substitute products are made from various plant proteins, including soy protein, wheat protein, and pea protein ingredients. Thus, the health benefits associated with these ingredients have been a major factor leading to the rising demand for meat substitutes.

The global meat substitutes market has witnessed consistent growth over the last few years, and this trend is projected to continue. The rising trend of plant-based meat due to the increasing health concerns and rising obesity has created growth opportunities for meat substitute manufacturers. Plant-based meat is the major market where meat substitutes are used. The market is driven globally by rising adoption of plant-based protein, the increasing investments in plant-based protein ingredients, and the growing inclination for pea protein ingredients.

Browse in-depth TOC on “Meat Substitutes Market”
229 – Tables
48 – Figures
233 – Pages

Key insights & trends:

Government bodies across countries are promoting the consumption of alternative meat products due to the health benefits offered by these products as well as environmental concerns associated with animal-based meat. These factors have propelled the market for meat substitutes. Extrusion and processing play an important role in the meat substitutes market. New extrusion technologies have improved the quality of pea proteins, making them highly soluble and easy to handle, thus creating better prospects for pea protein as a source in the future.

Developing countries are experiencing busier lifestyles and changing food consumption patterns, leading to an increase in demand for processed, ready-to-cook, and ready-to-eat food, which is expected to push the demand for meat substitutes in these regions. Emerging economies, such as India and China, in Asia Pacific, are exhibiting high growth. Asia Pacific also provides a cost advantage in terms of production and processing. High demand, coupled with the low cost of production, is a key feature expected to aid meat substitute suppliers and manufacturers target this market.

According to the European Regional Development Fund, 22% of UK consumers convey that they consume more protein from other sources rather than meat. For the millennials and iGeneration, the numbers have increased to 25%, indicating the high growth of the protein alternatives market in the country. This factor proves positive for the meat substitutes market and works in its favor due to the changing consumer preferences and the high adaptability rate among consumers.

Request for Customization: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=979

Key Players:

The key players in this market include ADM (US, Cargill (US), Wilmar Group (Singapore), Merck Group (Germany), and Roquette Frères (France). These players in this market are focusing on increasing their presence through agreements and collaborations. These companies have a strong presence in North America, Asia Pacific and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.

Related Reports:

Pea Protein Market by Type (Isolate, Concentrate, and Textured), Form (Dry and Wet), Source (Yellow Split Pea, Lentils and ChickPea), Application, and Region (North America, Europe, APAC, South America, and ROW) – Global Forecast to 2027
https://www.marketsandmarkets.com/Market-Reports/pea-protein-market-36916504.html

Plant-based Protein Market by Source (Soy, Wheat, and Pea), Type (Isolates, Concentrates, and Textured), Form, Application (Food (Dairy Alternatives, Meat Alternatives, and Performance Nutrition) and Feed), and Region – Global Forecast to 2026
https://www.marketsandmarkets.com/Market-Reports/plant-based-protein-market-14715651.html

Browse Adjacent Reports @ Food and Beverage Market Research Reports & Consulting

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenue decisions.

Our 850 full time analysts and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Visit Our Website: https://www.marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/meat-substitutes-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/meat-substitutes.asp

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Email: sales@marketsandmarkets.com

April 11, 2022

• Strategic 10-year agreement will support large-scale transformation of Oulu University Hospital and their aim to become ‘the smartest hospital in the world’
• Philips’ latest diagnostic and interventional solutions and healthcare transformation services will help drive operational efficiency and improved outcomes, while also enhancing the patient and staff experience
• Agreement enables ongoing collaboration to maximize operational performance and clinical research opportunities
  

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, and Oulu University Hospital (Finland) today announced a strategic 10-year  partnership agreement to support the hospital’s ambitious OYS2030 renewal program. The program aims to transform the operations and facilities of Oulu University Hospital to meet the challenges of future specialized care for the approximately 750,000 inhabitants of Northern Finland. Philips is providing its latest image-guided therapy solutions and innovations to transform the diagnosis and treatment of patients, as well as maintenance, consultancy and financing services.

The agreement will also act as an enabler for collaboration between the hospital and a Philips consultancy team specialized in providing services to drive healthcare transformation. Working closely with Oulu University Hospital, this team will identify unmet needs and help map out the way forward to maximize the benefits of the partnership and associated clinical research collaborations. Together, the organizations will drive efficiencies and innovations aimed at helping the hospital deliver on the Quadruple Aim of better health outcomes, increased efficiency, and improved patient and staff experiences.

As part of the first phase of the agreement, Philips will deliver 11 state-of-the-art interventional suites to support the hospital’s new interventional cardiology and interventional radiology departments. They will all be equipped with the latest release of Philips’ Image Guided Therapy System – Azurion with FlexArm – an advanced image-guided therapy platform that offers the latest innovations to help physicians improve efficiency, workflow and treatment outcomes, while also delivering a unique patient and staff experience. Azurion, together with other integrated live 3D visualization and device guidance solutions from Philips, supports a wide range of minimally-invasive procedures, ranging from cardiac and vascular to acute neuro and oncology treatments.

“It’s our aim to build the smartest hospital in the world, capable of meeting the challenges of future specialized care and ensuring the best-possible treatments for the people we serve in Northern Finland,” said Dr. Kari Ylitalo, Head of the Heart Center of Oulu University Hospital. “We believe this long-term partnership with Philips, which provides us with the latest health technology innovations and services, helps us to meet this commitment.”

“Through our long-term strategic partnership with Oulu University Hospital, and as an accountable business partner, we can optimally help them realize their vision of the future of healthcare,” said Mikko Vasama, General Manager Philips Nordics. “Using our expertise in cardiovascular care, our goal is to help clinicians treat their patients better by innovating existing image-guided therapy procedures and making entirely new ones possible. As a result of this agreement, Oulu University Hospital’s physicians will be able to provide their patients with the most advanced innovations for the treatment of cardiac and vascular disease.”

Examples of interventions that will take place in the new interventional cardiology and interventional radiology suites include catheter-based cardiac and vascular procedures to open clogged peripheral or coronary arteries, place cardiac implantable electronic devices, and treat cardiac arrythmias, as well as acute neuro interventions (for example, treatment for stroke) and procedures to treat cancer. For very complex procedures such as transcatheter aortic valve replacement (TAVR) and endovascular aneurysm repair (EVAR), or combination therapies where open and minimally-invasive surgery may both be involved, a Philips Hybrid OR – Azurion will also be installed. This integrates a surgical operating room and Azurion into a sterile setting for maximum flexibility.

To support multiple procedure types, Oulu University Hospital’s interventional suites will be equipped with Philips Interventional Applications Platform – IntraSight, a secure, fully integrated application-based platform that offers a comprehensive suite of clinically proven physiology, imaging, and co-registration tools for image-guided procedures across the interventional lab workflow. It includes support for IVUS (intravascular ultrasound) catheters capable of imaging the interior of blood vessels, and pressure wires capable of performing hemodynamic impact measurements such as FFR (fractional flow reserve) or iFR (instant wave free ratio). Other suites will be equipped with Philips Interventional Hemodynamic System, which enables integration with Philips’ portable Patient Monitor IntelliVue X3 to record continuous measurements such as ECG, blood pressure, oxygen saturation, and respiration rate before, during, and after image-guided procedures.

Philips has a comprehensive suite of solutions for the diagnosis and minimally-invasive treatment of structural heart and peripheral vascular disease, which aim to remove the barriers associated with complex procedures by helping to deliver clinical confidence where it is needed most – at the point of treatment. These solutions help strengthen clinical confidence, build efficiency throughout the care pathway, and enhance the care experience for both patients and staff.

The 10-year partnership agreement also includes an optional 10-year extension.

For further information, please contact:

Joost Maltha
Philips Global Press Office
Tel: +31 6 10 55 8116
Email: joost.maltha@philips.com

Lisa Pernbrink Thompson
Philips Nordics
Tel: +46 73 640 8089
E-mail: lisa.pernbrink@philips.com

About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being, and enabling better outcomes across the health continuum – from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2021 sales of EUR 17.2 billion and employs approximately 78,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

Attachments

• Philips Image Guided Therapy System – Azurion with FlexArm – 01
• Philips Image Guided Therapy System – Azurion with FlexArm – 02
• Oulu University Hospital Finland

LONDON, April 11, 2022 (GLOBE NEWSWIRE) — The Financial Times’ Private Wealth Management (PWM) magazine recently hosted a virtual panel discussion on the impact of global risks on countries with Citizenship by Investment (CBI) programmes.

As part of its PWM Perspectives series, the four-part panel discussion shares the views and insights of notable experts from major due diligence investigation agencies including Karen Kelly, director of strategy and development at Exiger; Eddy Leviton, chief operating officer at Fact WorldWide and Heyrick Bond Gunning, chief operating officer at S-RM.

The panel, moderated by Yuri Bender, editor in chief Professional Wealth Management magazine, shone a spotlight on due diligence processes amid rising geopolitical risks.

More and more savvy investors, entrepreneurs and families are looking for legitimate ways to protect and grow their wealth and investments amid rising uncertainty throughout the world. These people are looking for safe and trusted plan B routes that will ensure that their longevity should the environment change for the worst in their home countries.

Obtaining an alternative citizenship by contributing financially to another country’s economic or social needs is one way to do this. There is growing attention being given to countries who offer citizenship by investment and how they verify credentials of families and entrepreneurs looking to secure a new citizenship.

Speaking on the verification process, Karen Kelly, director of strategy and development at Exiger says “When a country is considering bestowing citizenship to an investor it requires a very in depth look at that investor – who they are, what their background is and where their funds are coming from. A third piece of that is engaging a third-party expert to ensure the veracity of all the information supplied.”

Due diligence mainly involves a number of processes with the main ones being document verification, checking if an applicant has criminal convictions and hits on sanctions lists or watch lists around the world, checking whether the applicant is subject to litigation or judgements, verifying the applicant’s source of wealth and the applicant’s reputation – a process that spans more than a 10 year period. The due diligence process does not only make use of available online resources and cross-referencing different databases but also makes use of on the ground intelligence who are able to ask face-to-face questions.

All this information is then submitted in report format by the intelligence agency to the client, which is the host country.

Heyrick Bond Gunning, chief operating officer at S-RM emphasised that continuous monitoring is key to a robust due diligence programme. “People’s circumstances change and what we as intelligence agencies do is provide countries evidence of a snapshot in time. Lifetime monitoring is something CBI Units are now doing to stay on top of any potential challenges and issues that may arise.”

This new layer of ongoing monitoring has become a key pillar of CBI Units in Caribbean jurisdictions, which are setting global best practices when it comes to advancements in due diligence processes.

This is especially true now, proactive countries in the Caribbean are now looking at past approved applicants to see who may cause issues in the future ahead of potential sanctions.

With growing negative attention on CBI countries, many CBI units are acutely aware of the work they need to do maintain the reputation and integrity of their CBI offerings.

Funds from CBI programmes often provide a vital source of income for some countries, especially in times of crisis – as is often the case for Caribbean countries devastated by hurricanes – these countries value the investment that goes into their economies, and the benefits to their people.

To that end, Caribbean nations offer some of the most rigorous due diligence checks when compared to some countries in Europe. The due diligence standards in the Caribbean region are some of the most effective in minimising perceived and actual security risks.

Host countries who are transparent and follow proper due diligence processes also positively impact their own brand and reputation in the international market.

Caribbean nations have been known to take a risk-based approach and are actively involved throughout the whole process.

Countries are particularly proactive in engaging their regional and international law enforcement and intelligence partners for information sharing agreements and are increasingly mandating that immigration and marketing agents who bring on applicants carry out certain minimum Know Your Customer due diligence processes.

Chief operating officer at Fact WorldWide, Eddy Leviton adds by saying countries who offer citizenship by investment are offering “high levels of due diligence, with some using two diligence agencies to cross check information.”

They know that the reputational risk to their brand and their programmes is so high, that they are making sure that due diligence is of the highest standards.

“As custodians of the citizenship by investment industry, we have made a concerted effort to support and guide governments to put extra attention on due diligence processes as this is the cornerstone of success for the programmes and a prerequisite to gaining trust of the international community,” says Paul Singh, Director at CS Global Partners – a leading citizenship planning firm.

Caribbean countries offer some of the most robust due diligence processes in the industry as some of their citizenship by investment programmes have been around for decades, as is the case with St Kitts and Nevis’ Programme which was established in 1984 and that of Dominica which was established in 1993.

These countries realise the importance of protecting and enhancing not only their reputation in the international community but also ensuring that their citizens and applicants know that they are investing in reputable and trusted brands for their businesses and families.

Professional Wealth Management, from the FT Group, is the premier resource for private banking and mutual fund coverage in Europe, Asia and beyond.

Watch the series here: https://video.pwmnet.com/

pr@csglobalpartners.com
www.csglobalpartners.com
+447824029952