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Micron Technology Announces Fourth Quarter and Full Year Fiscal 2020 Financial Results

micron technology announces fourth quarter and full year fiscal 2020 financial results

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Micron Technology, Inv. (NASDAQ: MU) reported financial results for the fourth quarter and full year of fiscal 2020 that ended September 3rd, 2020.  For the fourth quarter, revenue amounted to USD 6.06 Billion compared to USD 4.87 Billion a year ago.  GAAP net income reached USD 988 Million or USD 0.87 per diluted share.  Operating cash flow for the quarter summed up to USD 2.27 Billion. 

For fiscal year 2020 revenue reached USD 21.44 Billion while GAAP net income amounted to USD 2.69 Billion or USD 2.37 per diluted share.  Operating cash flow for the year reached USD 8.31 Billion compared to USD 13.19 Billion in fiscal 2019. 
“Micron delivered solid fiscal fourth quarter revenue and EPS resulting from strong DRAM sales in cloud, PC and gaming consoles and an extraordinary increase in QLC NAND shipments,” said Micron Technology President and CEO Sanjay Mehrotra. “We look forward to improving market conditions throughout calendar 2021, driven by 5G, cloud and automotive growth, and we are excited by the continued momentum in our product portfolio.”
Shares of Micron Technology fell over 5%, reaching a current low of day of USD 47.35. 

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Kasasa Partners with NXTsoft’s OmniConnect Marketplace to Deliver Seamless Loan Experience to Community Financial Institutions

kasasa partners with nxtsoft’s omniconnect marketplace to deliver seamless loan experience to community financial institutions

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Kasasa®, an award-winning financial technology and marketing provider, has partnered with NXTsoft, the market leader in API connectivity, to enhance t

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Rate of Defects in Mortgage Applications Continues to Fall – MortgageOrb

rate of defects in mortgage applications continues to fall – mortgageorb

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The rate of defects in mortgage applications continued to decrease in August, due mostly to the fact that applications for refinances made up a greater share of overall application volume.Applications for refinances generally carry lower fraud risk, compared with applications for purchases, because the borrower information has, in most cases, been previously been verified.The decrease in the rate of defects resulted in a score of 60 on First American’s Loan Application Defect Index.The rate of defects in all applications fell by 1.6% relative to July and was down 17.8% compared with August 2019.“The monthly decline was driven by both purchase and refinance loan fraud risk,” says Odeta Kushi, deputy chief economist for First American. “While refinance loan fraud risk continued its three-month descent, this marked the first time in five months that purchase loan fraud risk declined. Yet, purchase fraud risk remains 5.2 percent higher than one year ago.”The rate of defects in applications for refinances decreased by nearly 26% compared with one year ago and reached a new low in its almost 10-year history.“Defect, fraud and misrepresentation risk is significantly lower on refinance transactions, but it’s likely that the mortgage finance industry’s significant investment and adoption …

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iCapital Network® Divests Right to Acquire Private Client Group to AlphaCore and Takes Ownership of Portfolio and Risk Analytics Tool

icapital network® divests right to acquire private client group to alphacore and takes ownership of portfolio and risk analytics tool

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Tool to further enhance iCapital’s alts technology toolkit to help financial advisors assist their clients in analyzing and managing alternatives

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Inspire Software Named as Top Startup to Watch in Prestigious Industry Report

inspire software named as top startup to watch in prestigious industry report

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SAN DIEGO, Sept. 30, 2020 /PRNewswire/ — Inspire Software has been named as one of the Top 10 Startups to Watch in the Brandscape™ 2021 Talent and Learning report. Inspire’s approach to talent and leadership development anchored in OKRs and its ability to impact performance management are what landed its brand in the recent report. 
“It is rewarding for our innovative team to see validation not only in this report, but by the companies using Inspire to drive better talent, leadership, and business outcomes,” said Chris Wollerman, CEO of Inspire Software. “Inspire helps companies achieve their goals and OKRs while enabling teams and individuals to collaborate and align to the mission, vision, and strategy.”
Inspire Software is even more important now in the COVID-19 era. Companies are challenged to address talent management with much needed creativity. Continuous performance management may no longer be unique, but by combining those practices with tried-and-true leadership development methodology, Inspire offers a cutting-edge option that meets organizations’ needs today. Organizations don’t need more managers right now — they need more leaders. And it’s clear the market agrees: Inspire has experienced growth in sales over the last year despite an overall global economic downturn, which is further validated by being named …

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itexsys Taps Your Bourse to Create MetaTrader 4 White Label Solution

itexsys taps your bourse to create metatrader 4 white label solution

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itexsys, a financial services technology company, announced this Wednesday that it has formed a strategic partnership with Your Bourse. Together, the two companies will prove a branded MetaTrader 4 white label solution to itexsys’ broker clients.Under the agreement, brokers who sign up to itexsys’ MetaTrader 4 white label through Your Bourse will be able to access what it calls the ‘full Your Bourse technology package’. According to the statement, this includes a bridge, matching engine and liquidity aggregator. The Most Diverse Audience to Date at FMLS 2020 – Where Finance Meets InnovationFurthermore, users will be able to access real-time and historic reporting tools in addition to warehousing functionality. As time goes on, the financial services provider expects its partnership with Your Bourse to develop, which will result in more tools within the package at the same fixed price.itexsys Previously Exclusively Used Gold-i TechnologyUntil now, the financial technology provider has worked exclusively with Gold-i’s technology to deliver its MetaTrader white labels. The collaboration announced today will see itexsys expand its offering by utilising the technology of Your Bourse.Suggested articlesPLUGIT Launches YOONIT V2.0Go to article >> Simon Blackledge, Founder and Director, itexsysSource: LinkedInCommenting on the partnership, Simon Blackledge, Founder and Director of …

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MoU on cooperation to promote financial technology system in Cambodia signed – Khmer Times

mou on cooperation to promote financial technology system in cambodia signed – khmer times

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Techo Startup Centre (TSC), under the Ministry of Economy and Finance and the Association of Banks in Cambodia (ABC) signed here yesterday a memorandum of understanding (MoU) on cooperation to promote financial technology system in Cambodia.
The MoU was signed by  Kong Marry, Under Secretary of State at the Ministry of Economy and Finance and TSC’s Chairman and Mr. In Channy, Chairman of ABC.
The MoU aims to promote financial inclusion and expand the scope of work in startups and financial technology (FinTech) sectors in support of Cambodia’s digital economy.
The MoU enables ABC to work with TSC to participate in the Fourth Industrial Revolution in Cambodia’s digital economy plan through supporting, strengthening and expanding new startups.
The potential of this new technology will become an important lever in the socio-economic development of the digital economy.
The development of FinTech plays an important role in building the digital economy as a whole and, in particular, promoting financial inclusion, according to a press release issued on Sept. 28.
The digital economy policy draft addresses the need to set up a national payment system, a part of financial technology, to drive the development of e-commerce, last-mile delivery and other online …

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AeroPay Secures Seed Round Financing

aeropay secures seed round financing

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The financial technology company AeroPay has finalized a seed-funding round.
The exact amount it raised was not disclosed.
Continental Investors led the effort. The Chicago-based firm’s portfolio includes e-commerce marketplace Drizly, publicly-traded financial technology company Sezzle, as well as WePay and LevelUp.
Previous angel investors, as well as new strategic investors coming from the tech and financial services industries, also participated in the financing round.
AeroPay noted Tuesday that it intends to use the proceeds to boost growth, add talent, improve product capabilities and scale operations.
AeroPay chief executive Daniel Muller says the goal is to “simplify the payments process for owners and operators in all industries and verticals.” He also highlighted how the expertise at Continental Investors “aligns perfectly with the type of company we’ve set out to create.”
In July, AeroPay launched a new suite of digital payment solutions intended for businesses within the cannabis industry. The newly introduced tech allows digital payments by utilizing so-called “smart bank transfers” to enable business-to-business (B2B) and customers-to-business (C2B) transfers. 
In addition, the company also partnered with Safe Harbor Private Banking recently to provide CBD, cannabis, and non-plant touching ancillary service businesses with a payment solution.
As a part …

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Financial services remains a bright spot for Delaware – Delaware Business Now

financial services remains a bright spot for delaware – delaware business now

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Good afternoon,It wasn’t that long ago that some in Delaware’s gloom and doom crowd were predicting that the state’s financial service industry was on the bubble.
Their argument – the quality of life was low, the state’s taxes were too high and the government was not sufficiently pro-business.

The chicken little predictions proved to be wrong. The industry, while seeing a decline in jobs since March, due in large part to Covid-19, remains one of the stronger sectors of the state’s economy.
That status was bolstered by news that financial services giant Goldman Sachs, will open a small operation on the Wilmington Riverfront, according to a story in Delaware Online (subscription required).
Earlier, Barclays decided to add jobs in Wilmington, after moving some operations to a northern New Jersey site that had received a heavy dose of state incentives.
Goldman Sachs already has a small trust operation in the Bellevue area north of Wilmington.
Goldman Sachs, best known as a deal-making investment banker, has expanded into consumer-based businesses that include the Apple credit card as well as Marcus savings accounts and personal loans. Barclays, meanwhile, is losing the Apple business but has seen growth elsewhere.

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ACI, Mastercard To Ramp Up Real-Time Payments | PYMNTS.com

aci, mastercard to ramp up real-time payments | pymnts.com

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Mastercard and ACI Worldwide are teaming up to “provide a wide range of real-time payment solutions globally.” This will address the opportunity created as the “account-to-account payments market continues to quickly expand,” a press release said on Tuesday (Sept. 29).“With more countries and regions embarking on the modernization of their payments systems to capitalize on real-time technologies and customer demand, the market opportunity is significant,” said Paul Stoddart, Mastercard president of new payment platforms. “Working together with ACI, we will explore a wide range of opportunities to accelerate the development and usage of real-time and multi-channel payment platforms,” he added in the release.“Mastercard and ACI share an extensive and complementary track record of real-time payments success,” said Craig Saks, ACI’s chief strategy and transformation officer. He added that the new partnership “will provide great benefit not only to banks and central infrastructures” but to merchants, their customers and financial technology companies (FinTechs).The companies added that, “with a complementary real-time payments vision, the combination of Mastercard’s central infrastructure and ACI’s payments access and real-time message-transformation technology delivers an unmatched end-to-end offering.According to the release, the new joint solution delivers key benefits including flexible options encompassing …

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