Roku Extends Distribution Agreement with Amazon and IMDb

Hardware digital media brand Roku has announced this week that it extended its distribution agreement with Prime Video and IMDb TV apps on all Roku devices.

Prime Video is a video on-demand over-the-top streaming and rental service of Amazon offered as a standalone service.

Terms of the deal are yet to be disclosed. However, the noticeable rise in Roku’s share price is still well under half the streaming platform’s 52-week high.

IMDb TV is a demand streaming service owned by Amazon. The service launched in January 2019 as IMDb Freedive.

Roku and Amazon’s renewal was reached without any public fireworks erupting — in contrast to some of Roku’s recent distribution deals.

Roku complained that Google was behaving in an anticompetitive manner. Among other things, Roku had objected to what it said were Google’s demands to give YouTube search results preference over other content sources via a dedicated row and to omit search results from non-YouTube sources if users were in the YouTube app on Roku.

Roku takes 30% of ad inventory on partner channels and keeps 20% of gross transaction revenue for paid applications.

Roku first launched IMDb TV in January 2021, while Prime Video has been on Roku devices in the United States for more than a decade. Amazon added the Roku Channel to Fire TV device family in October 2020.

Roku ended 2021 with 60.1 million active accounts, up 17% year over year but well below its 39% pandemic-fuelled gain of in the year-earlier period.

56 percent of people claimed watching more videos on streaming platforms on television.

The company has seen a revenue slowdown in its Platforms segment and rising costs in its hardware business in recent months.

5 Effective Ways of Handling Compliance for Fintech Companies in 2022

The fintech industry is evolving at an astounding rate. The need for fintech firms to adapt is drastically increasing, as are the number of complications that firms face when trying to stay compliant. A lack of proper compliance can be detrimental to the success of a fintech firm.

Just like any other industry, fintech firms have to comply with certain rules and standards that govern their behaviour. However, the fintech industry is constantly evolving and adapting, thus making compliance a daunting task.

There are, however, certain ways through which fintech firms can mitigate their compliance risk before it becomes a problem. This article will outline the five most effective ways of managing compliance for fintech companies.

Create a compliance plan

Creating a compliance plan will help a fintech firm identify and address potential problem areas. Through a compliance plan, a fintech firm will define what its compliance strategy will be and which policies and procedures need to be upheld in order to stay compliant.

The plan will also identify potential areas that could be problematic and ways through which the fintech firm can mitigate those risks.

A compliance plan should, at a minimum, include business objectives, risk tolerance, policies such as email retention policy, code of ethics, and investigatory and reporting procedures. The plan should also include an overview of regulatory requirements that might affect a fintech firm, as well as cybersecurity requirements.

Coordinate with existing regulatory bodies

Fintech firms should coordinate with other regulatory bodies. Doing so allows fintech firms a better understanding of the rules and regulations that are applicable to them and helps fintech firms anticipate any possible issues before they arise.

The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) are some of the main regulatory bodies that regulate fintech firms in the UK. Fintech firms in the US coordinate with the Financial Industry Regulatory Authority (FINRA), Consumer Financial Protection Bureau (CFPB), Securities and Exchange Commission (SEC), and others.

Coordinating with regulators allows fintech firms to:

  • Demonstrate a sense of responsibility
  • Gain a deeper understanding of the rules and regulations
  • Receive guidance on what regulators expect of them
  • Receive an update on regulatory changes
  • Allow regulators to better understand what fintech firms do
  • Ensure compliance with regulations and mitigate risks

Identify potential compliance risks

Identifying and preparing for potential regulatory risks is one of the most effective ways of managing compliance.

Risk management helps fintech firms identify and address potential risks. These risks can be related to reputation, regulations, or technology.

Reputational risks are a risk that an organisation’s reputation could be harmed by the actions of its employees, management, or third parties. Technology risks are risks that arise from the use of technology.

Risks can be also related to regulation. Regulatory risks are risks that arise from failure to comply with laws, regulations, license requirements, or codes of conduct.

Use technology to mitigate the risks

Technology has made it easier for fintech firms to stay compliant. With the help of technology, fintech firms can automate various processes, which will not only mitigate the risks of non-compliance but also help fintech firms reduce costs.

For example, automating processes such as data archiving (with the help of a third-party service provider) will free up a lot of time for the fintech firm’s employees, which would, in turn, allow them to focus on more strategic and revenue-generating activities. Not only can automation help save valuable time, but it also mitigates the risk of human errors related to data retention policies and eDiscovery requests.

Technology can also help detect errors or anomalies in the data. Fintech firms are data-driven organisations, and any discrepancies or irregularities in the data can adversely impact the business. Therefore, using data validation tools can help a fintech firm mitigate the risks.

Educate employees

Besides implementing the right technology, fintech firms should ensure that their employees have the necessary knowledge, training, and access to technology. This can be done by creating a compliance manual, which outlines the firm’s compliance policy and procedures.

A fintech firm can also train its employees on topics such as anti-money laundering (AML), anti-bribery, and fraud prevention.

Employee education is particularly important in firms operating in highly regulated markets.

Fintech firms can use technology to help employees gain the necessary knowledge. For example, they can implement a knowledge management (KM) system. This can be useful for onboarding new employees and allowing them to learn more about the company.

Conclusion

Compliance is an integral part of the fintech industry. Compliance issues can prove to be detrimental to a fintech firm’s success. If a firm fails to comply with regulatory requirements, it may face increased regulatory scrutiny or fines.

Regulations are constantly evolving, with new regulatory requirements coming all the time. The fintech industry is therefore facing new challenges and must adapt to these changes.

Author Alex Morgan

Author, Alex Morgan

Majic Signs Investment Banking Agreement with Donald Capital

Majic, a Delaware corporation, that is positioning itself as a player in the disruptive industries of fintech and software development by means of acquisitions, announces that it has signed an agreement with New York based Investment Bank Donald Capital, LLC.

The Company is proud to announce it has signed an agreement with Donald Capital, LLC. to provide M&A Strategic Advisory and Investment Banking services to the Company as a lead placement agent. Donald Capital will assist the Company to raise capital in a private offering of up to $50,000,000.

The Company believes this agreement will further increase the scope and size of its acquisitions strategy and create a leverage to exponentially create growth and value for its shareholders.

Donald Capital, LLC is a FINRA Member Investment Bank founded with the intent to build a legacy based upon the fundamentals of Honesty & Integrity.

The principals’ highly regarded Wall Street reputations, broad experience across multiple industries and geographies, plus a results-oriented approach enables Donald Capital to provide solutions to the complex problems facing companies in today’s challenging business environment.

Donald Capital focuses on a market that has not been properly served for some time – the Private, Micro, Small and Midcap Markets.

“As we keep growing the Company through the organic growth of our existing business lines and the acquisition of synergistic value adding candidates, our Company will be well advised by the extensive experience of Donald Capital’s team.

This is another step towards our NASDAQ up listing goal. Institutional backing is essential to a successful up list and we feel this step represents another milestone in the NASDAQ direction.” said David Chong, Chief Executive Officer of Majic Wheels Corp.

About Donald Capital, LLC

Donald Capital founded in 2019 by senior Wall Street veterans with a long-term goal to become the premiere boutique investment bank in all sectors for both domestic and foreign companies. Donald Capital is headquartered in New York City with an office in St. Petersburg, FL.

Future satellite offices planned in Los Angeles, Vancouver, and Shanghai.

Contact information for Donald Capital, LLC:

Email: info@donaldcapital-ny.com
Website: www.donaldcapital-ny.com
Phone number: 914-806-2066

About Majic Wheels Corp.

Majic Wheels Corp., a Delaware corporation, intends to position itself as a player in the disruptive industries of Fintech and software development by means of acquisitions and mergers.

Majic Wheels Corp. is listed and traded on the Over-the-Counter Market under the trading symbol “MJWL”.

For more information about the Company visit:

Our OTC Markets Profile: https://www.otcmarkets.com/stock/mjwl/overview

Our website is: https://majiccorp.co/

Our Twitter account is: https://twitter.com/MajicCorp

Our Discord: https://discord.gg/apolloassets

About CGCX Ltd.

Founded in 2018, Calfin Global Crypto Exchange CGCX set out to offer a highly sophisticated cryptocurrency exchange for a seamless & secure crypto trading experience.

Unlike most exchanges that offer only cryptocurrency trading, CGCX caters to the larger blockchain community by providing four services under a single platform.

CGCX Website: https://www.cgcx.io

SAFE HARBOR STATEMENT

This press release contains forward-looking statements that can be identified by terminology such as “believes,” “expects,” “potential,” “plans,” “suggests,” “may,” “should,” “could,” “intends,” or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements.

These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks.

Many factors are difficult to predict accurately and are generally beyond the company’s control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

SOURCE: Majic Wheels Corp.

FOR MORE INFORMATION, PLEASE CONTACT:
David Chong
Email: info@majiccorp.co

Majic To Host Online Presentation of CGCX

Houston, Texas, August 20, 2021 – Majic Wheels, Corp. (OTC Pink: MJWL) (“Majic” or the “Company”), a Delaware corporation, that is positioning itself as a player in the disruptive industries of fintech and software development by means of acquisitions, announces it will be hosting an online presentation of its wholly owned subsidiary CGCX.

The Presentation will be hosted on the
Majic Wheels Corp, Inc. website on
August 22nd, 2021, at 19:00 Eastern Time

To view the presentation, investors are invited to register on the Majic website here:

https://majiccorp.co

“We are excited to share more about CGCX with shareholders and prospective investors alike. There has been a rising interest in CGCX’s exchange platform and its ecosystem. We couldn’t be more excited to share CGCX’s current achievements and future” said Dr. Vin Menon, founder of CGCX.

As part of the presentation the Company will be delving into further details about the current roadmap set for the Company’s subsidiary CGCX. Items discussed during the presentation will cover Actual Revenues, Projected Revenues, Business Lines and Planned Upcoming Developments.

Following the online presentation, the Company will be attending a Discord Q&A session to further discuss any questions shareholders may have about the presentation. The Q&A will be hosted on the Company’s usual Discord Channel hosted by Apollo Assets.

The Q&A will take place on August 25th, 2021, at 18:00 Eastern Time

About Majic Wheels Corp.

Majic Wheels Corp., a Delaware corporation, intends to position itself as a player in the disruptive industries of Fintech and software development by means of acquisitions and mergers. Majic Wheels Corp. is listed and traded on the Over-the-Counter Market under the trading symbol “MJWL”.

For more information about the Company visit:

Our OTC Markets Profile: https://www.otcmarkets.com/stock/mjwl/overview

Our website is: https://majiccorp.co/

Our Twitter account is: https://twitter.com/MajicCorp

Our Discord: https://discord.gg/apolloassets

About CGCX Ltd.

Founded in 2018, Calfin Global Crypto Exchange CGCX set out to offer a highly sophisticated cryptocurrency exchange for a seamless & secure crypto trading experience. Unlike most exchanges that offer only cryptocurrency trading, CGCX caters to the larger blockchain community by providing four services under a single platform.

CGCX Website: https://www.cgcx.io

SAFE HARBOR STATEMENT:

This press release contains forward-looking statements that can be identified by terminology such as “believes,” “expects,” “potential,” “plans,” “suggests,” “may,” “should,” “could,” “intends,” or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company’s control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

SOURCE: Majic Wheels Corp.

FOR MORE INFORMATION, PLEASE CONTACT:
David Chong
Email: info@majiccorp.co

CGCX Launches Advanced Decentralized Blockchain Platform

Blockchain networks operate through decentralized protocols. Validation and record-keeping activities are decentralized and automated by outsourcing to the platform’s network users, thus eliminating a central controlling entity.

McapMediaWire – MJWL, a Delaware corporation, that is positioning itself as a player in the disruptive industries of fintech and software development by means of acquisitions, announces launch of iChain Advanced Decentralized Blockchain Platform by its wholly-owned subsidiary CGCX.

CGCX’s iChain is an ambitious Layer 2 scaling project dedicated to the establishment of a truly decentralised infrastructure. It provides one of the largest blockchain-based operating systems and offers public blockchain support of high throughput, high scalability, and high availability for all Decentralized Applications on the CGCX iChain ecosystem.

iChain is designed to be a complete platform for launching interoperable blockchains and offers significant transparency, security, scalability, performance, and low/no gas fees.

The first project – iBG, a Smart DeFi Robo Advisory app that provides users with AI enabled asset management, has already gone live on CGCX iChain, with more than 3000 transactions logged in the first hour. The second project is CGCX token.

CGCX is the world’s first fully insured hybrid trading platform and its native utility token will migrate from Ethereum blockchain to iChain blockchain. There are two further enterprise blockchain projects in the pipeline that are due to go live on the CGCX iChain.

Aneesha Reihana, Chief Product Strategist of iBG.finance added: “CGCX’s iChain has provided us a scalable platform to expand our service offerings at not only no cost to our consumers, but even more importantly on an insured platform.”

The go to market strategy is to help fortune 500 multinational companies move into blockchain with a highly scalable/secured low to no cost model. This provides a truly decentralised platform and offers POSI to all the digital assets available in the iChain platform, subject to insurance premiums.

The founder of CGCX and iBG Dr Vin Menon said: “We are very proud to be the world’s first insured platform where all the digital assets are reinsured by Lloyds of London Syndicates and provide safe custody and peace of mind for our asset owners. This is unique to the market, and we have been working on developing this infrastructure for a number of years.”

The CGCX iChain is a protocol designed to help scale key Decentralized Applications by handling transactions off the Ethereum mainnet, while taking advantage of the robust decentralised security model of the mainnet, by anchoring transaction hashes to the mainnet, which ensures that the immutability of the blockchain is maintained.

iChain seeks to address some of Ethereum’s major limitations—including its throughput, poor user experience in terms of high speed and delayed transactions and its high gas fees. In a recent interview, Vitalik Buterin, Ethereum’s co-founder, has commented on how the Ethereum ecosystem will not work if gas fees cripple the average users and sees sidechains and parachains as playing a key role in reducing network costs, amplifying performance, and anchoring Ethereum.

About Majic Wheels Corp.

Majic Wheels Corp., a Delaware corporation, intends to position itself as a player in the disruptive industries of Fintech and software development by means of acquisitions and mergers. Majic Wheels Corp. is listed and traded on the Over-the-Counter Market under the trading symbol “MJWL”.

For more information about the Company visit:

Our OTC Markets Profile: https://www.otcmarkets.com/stock/mjwl/overview

Our website is: https://majiccorp.co/

Our Twitter account is: https://twitter.com/MajicCorp

Our Discord: https://discord.gg/apolloassets

About CGCX Ltd.

Founded in 2018, Calfin Global Crypto Exchange CGCX set out to offer a highly sophisticated cryptocurrency exchange for a seamless & secure crypto trading experience. Unlike most exchanges that offer only cryptocurrency trading, CGCX caters to the larger blockchain community by providing four services under a single platform.

CGCX Website: https://www.cgcx.io

SAFE HARBOR STATEMENT:

This press release contains forward-looking statements that can be identified by terminology such as “believes,” “expects,” “potential,” “plans,” “suggests,” “may,” “should,” “could,” “intends,” or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements.

These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company’s control.

Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

FOR MORE INFORMATION, PLEASE CONTACT:
David Chong
Email: info@majiccorp.co

Hogan Lovells Law Firm to Fund Women Led FinTech Companies

Financial technology (FinTech) is the technology and innovation that aims to compete with traditional financial methods in the delivery of financial services. It is an emerging industry that uses technology to improve activities in finance.

Hogan Lovells law firm announces during United Kingdom FinTech Week that applications are open to its Global FinTech Mentor and Momentum Program for 2021-22. This year, the firm will focus on selecting and supporting female led FinTechs, as part of its commitment to diversity and inclusion.

To date around 10% of successful applicants for the Program have had women founders or leaders, including Dozens, Flexy and Rodi.

The Program is open to FinTechs at any stage of development, from start-ups to more established growth players. Interested businesses, particularly in the areas of banking, lending, payments, insurance, investments, and sustainable finance, are welcome to apply throughout 2021 for complimentary or subsidised support from Hogan Lovells.

The law firm is committed to empowering the female FinTech community, and is aiming for at least half of successful applications from female led FinTechs.

Globally, just 3% of FinTechs were founded by women as of 2019, according to Deloitte Insights published in October 2020, which also found that funding for FinTechs founded or co-founded by women was significantly less than for men. Innovate finance reported in January this year that female founded FinTechs accounted for 17% of the United Kingdom’s total FinTech venture capital investments over 2020, up 6% from 2019.

Yet KPMG’s United Kingdom FinTech Focus 2020 found that female founded FinTechs are more resilient to the pandemic, with more in cash reserves.

Launched at Innovate Finance Global Summit in April 2017, the successful Program is entering its fifth year. To date, Hogan Lovells investment has totalled over a million pounds in support of around 25 FinTechs; providing each with up to £25,000 in free legal services, together with a 30% discount to the free advice, to make it go further.

This is in addition to the same discount on advice provided after or outside the scope of the program, as well as access to industry events and networking opportunities with the firm’s existing clients in the FinTech space.

Hogan Lovells is ideally placed to provide this support, long positioned at the heart of the FinTech industry. The firm advised on the establishment of the United Kingdom’s first internet only bank; on the launch of Zopa – the world’s first peer-to-peer lender; and of a mobile P2P payments service – the first of its kind in the United Kingdom market.

Head of Financial Services Rachel Kent co-chaired the policy and regulation chapter of the recently published United Kingdom FinTech Strategic Review, in February 2021.