TORONTO, July 15, 2019 (GLOBE NEWSWIRE) -- Artificial Intelligence company, AnalytixInsight Inc. (“AnalytixInsight”, or the “Company”) (TSX-V: ALY; OTCQB: ATIXF), is pleased to announce that its 49%-owned subsidiary Marketwall, a FinTech company specialized in stock-trading solutions, has made application to become an online financial broker in Italy, with plans to expand to other European countries.
Marketwall’s board of directors have approved a new strategic plan whereby Marketwall will be established as an online financial broker (“Marketwall Brokerage”) aligned under the following elements:
- Establish Marketwall Brokerage to offer leading FinTech-enabled services for receiving, transmitting and executing stock trading orders.
- Marketwall Brokerage to request regulatory approvals for brokerage services initially in Italy and then intends to expand to other European countries.
- Marketwall Brokerage to develop multi-device (e.g., mobile, wearables, smart-TV) trading platforms, combining research and financial education.
- Marketwall Brokerage to use the Investment Bank of Intesa Sanpaolo as its execution broker.
The Marketwall Brokerage strategic plan is a significant advancement of Marketwall’s business. During its four-year operating history, Marketwall has developed leading-edge FinTech solutions which offer sophistication and simplicity to users. Several key product offerings have been developed, tested and are now deployed, including:
- Financial portal - marketwall.com, which offers financial content including live videos, financial news feeds, real-time stock quotes, and custom-made video news stories. Marketwall currently has a partnership with Samsung Electronics, carrying the app as a pre-loaded financial app in its devices - including Smart TVs. Marketwall’s audience across all digital channels (Marketwall Apps, Facebook, Twitter and Instagram) generates over 3.5 million views monthly.
- GlobalMarket – a trading & research platform that has been developed to offer analyst research and stock-trading in one common enterprise digital platform. GlobalMarket is marketed and sold by a leading investment research provider and has already been installed by a leading bank in Western Europe for their approximately 4,000 professional users.
- Research Portal – an elegant, private information portal for use by banks and brokerage firms to better serve their institutional buy-side clients. Investment research reports are organized and summarized in a password-protected portal, allowing a client to search and navigate research publications with ease, and eliminates the cumbersome email-based distribution methods traditionally used.
Marketwall Financial Summary
Marketwall recently recorded the following financial information for the three months ended March 31, 2019 ($Cad, unaudited): Quarterly Revenue $1.4M, Quarterly Net Income $0.5M, Cash $2.7M, Assets $1.5M, Liabilities $1.3M. Marketwall also recently received an order for its Research Portal service which it expects to complete during 2019.
Marketwall’s board of directors have determined that the company has sufficient working capital to fund its current operations but will evaluate funding opportunities to enable the company’s global growth expansion plans, which may include external financing or an initial public offering for Marketwall.
Additional Background
Marketwall was established in Milan, Italy in 2014 by AnalytixInsight as a FinTech company with a focus on stock-trading and financial apps. In September 2015, Marketwall and Intesa Sanpaolo announced a partnership agreement to develop stock-trading apps, and in April 2016 Intesa Sanpaolo acquired 33% of Marketwall.
Intesa Sanpaolo is a leading bank in Europe with approximately 11.9 million customers, a network of approximately 4,400 branches throughout Italy, and has emerged as Italy's first digital bank. Intesa Sanpaolo now reports 8 million multi-channel customers, of which 3 million are now using the Intesa Sanpaolo Mobile banking app with 56 million logins per month on the app alone, and 53 million mobile transactions with the app since the start of 2018. On November 30, 2018, Intesa Sanpaolo announced plans to invest 2.8 billion euros over the following three years to increase the bank’s digitized business to 70%. Mobile is at the heart of the bank's digital ecosystem. The "app constellation" is centered around Intesa Sanpaolo Mobile, which provides access to banking services, financing, savings and is enhanced with the Intesa Sanpaolo Investo app (developed by Marketwall) that enables customers to trade securities and monitor their investment assets using their mobile device.
CONTACT INFORMATION:
For AnalytixInsight: For Marketwall:
Scott Urquhart Marco Roscio Ricon
VP Corporate Development CEO
Scott.Urquhart@AnalytixInsight.com Marco.Roscio@Marketwall.com
ABOUT MARKETWALL S.R.L.
Marketwall is a FinTech company focused on the design and development of software solutions as part of a fully integrated ecosystem of Smart Devices – Web, Mobile, Wearables and Smart TV. Marketwall’s aim is to innovate methods to access financial markets by combining technology, data and user experience. Marketwall works to empower market data experience and investment knowledge by developing B2B and B2B2C multidevice platforms for major players in the Financial and Technology industries. Its platforms cover 50,000 stocks and provide news, real-time quotes for EU and US markets and other financial contents. Marketwall is 49% owned by AnalytixInsight Inc., and 33% owned by Intesa Sanpaolo.
ABOUT ANALYTIXINSIGHT INC.
AnalytixInsight Inc. is an Artificial Intelligence, machine-learning company. AnalytixInsight’s financial analytics platform CapitalCube.com algorithmically analyzes market price data and regulatory filings to create insightful actionable narratives and research on approximately 50,000 global companies and ETFs, providing high-quality financial research and content for investors, information providers, finance portals and media. AnalytixInsight also designs and implements Workforce Optimization solutions for large global enterprises. AnalytixInsight holds a 49% interest in Marketwall, a developer of FinTech solutions for financial institutions. For more information, visit AnalytixInsight.com.
Regulatory Statements
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the growth of the Company’s business operations; the use of the Company’s content by various parties; Marketwall’s business operations; a potential financing of Marketwall; and the Company’s future performance. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of AnalytixInsight Inc., as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the Company’s technology and revenue generation; risks associated with operation in the technology sector; ability to successfully integrate new technology and employees; foreign operations risks; and other risks inherent in the technology industry. Although AnalytixInsight has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. AnalytixInsight does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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