San Francisco & Cupertino, California, Sept. 13, 2022 (GLOBE NEWSWIRE) -- Ovenue Inc., a leading provider of artificial intelligence (AI) and blockchain technology solutions for valuation, tokenization, and financing of real-world assets for B2B and financial institutions, today announced a far-reaching partnership with Amberoon Inc., which develops no-code risk, performance and asset management solutions for banks and credit unions, to create a broad range of products for the financial services industry. The alliance is designed to accelerate the adoption of AI and blockchain technologies in this critical sector.
Amberoon’ will leverage Ovenue’s predictive analytics and asset management capabilities to enhance the fidelity of asset valuation, tokenization, and monetization processes for financial instruments, particularly loan portfolios. Bringing even more change to the financial service industry, the company will create efficient blockchain-based marketplaces for asset transactions and monetization. With the new offerings, asset owners will have the ability to transform a variety of financial assets, including loans, into asset-backed digital products that can be licensed, sold, and collateralized through a proprietary and comprehensive asset valuation, tokenization, and monetization platform.
In 2022, Ovenue launched an AI and blockchain-enabled valuation and financing infrastructure with over $400M of Tokenized Assets Valued (TAV). This included franchising agreements, brands, real-estate portfolios, and life science patents. The platform now features an asset valuation and tokenization layer, an asset-backed non-fungible token (NFT) marketplace for transactions, and a finance protocol for borrowing and lending against these assets.
“Our goal is to team with fellow innovators bringing new technologies to the financial services sector, and Amberoon is clearly a star in that arena,” said Ram Shanmugam, CEO, and Co-Founder of Ovenue Inc. “By working together to develop AI and Web3-related products and services, we can boost the valuation and monetization of financial assets by enhancing trust, removing friction from multi-party transactions, improving data management, and accelerating transactions. This is what optimal, AI and blockchain technologies can achieve, and we’re proud to be at the forefront of this transformation. We look forward to a long and fruitful partnership with Amberoon that drives change in the financial services industry.”
“We build on the foundation that the cloud IS the bank, and that’s why our mission has always been to bring no-code technology modernization to the corner of the industry that needs it the most—smaller banks and credit unions long neglected by the tech sector,” said Shirish Netke, CEO and Founder of Amberoon Inc. “We are excited to collaborate with Ovenue in bringing the benefits of blockchain technology and Web3-based solutions to a broad portfolio of efficient solutions that best meet industry-specific priorities.”
About Ovenue Inc.
Ovenue is an AI and Blockchain-based Valuation, Tokenization, and Monetization as a Service (VTMaaS) technology company that provides asset owners and businesses with an end-to-end solution to value, tokenize, and monetize their Real-World Assets. Ovenue’s open-API protocol connects these assets to liquidity pools, enabling borrowing and lending against collateralized real-world assets.
About Amberoon Inc.
Amberoon provides state-of-the-art risk management, performance management, and asset management solutions for banks and credit unions. Amberoon solutions leverage AI/ML advances with a no-code SaaS model and a risk-based approach within an Agile Compliance framework to reduce operational risk from financial crimes.
Additional Information
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This press release includes forward-looking statements regarding the Company and its respective business, which may include, but is not limited to, statements with respect to the proposed business plan of the Company and other statements. Often, but not always, forward-looking statements can be identified by the use of words such as “will”, “intends”, “expects”, or variations (including negative 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. Such statements are based on the current expectations of the management of the Company. The forward-looking events and circumstances discussed in this release may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company, including risks regarding the financial technology and securities industries, economic factors, regulatory factors, the equity markets generally and risks associated with growth and competition. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events, or results to differ from those anticipated, estimated, or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
