AnalytixInsight’s MarketWall Appoints Board of Directors for European Online Brokerage Subsidiary InvestoPro
TORONTO, June 16, 2020 (GLOBE NEWSWIRE) -- Artificial Intelligence company, AnalytixInsight Inc. (“AnalytixInsight”, or the “Company”) (TSX-V: ALY; OTCQB: ATIXF), is pleased to
announce that its FinTech affiliate, MarketWall, has appointed a board of directors for its European online financial brokerage subsidiary, InvestoPro. MarketWall has applied to become a European
online financial broker through its wholly-owned subsidiary, InvestoPro, and is awaiting regulatory approvals.
The board of directors for InvestoPro has been constituted with the following seven members:
Massimo Tessitore (Chair): Head of Digital Channels - Branch Platform & Digital Business Partner Commercial Banking, Private and Insurance of Intesa Sanpaolo,
Laura Stoduto: General Director of Morval SIM, a subsidiary of Intesa Sanpaolo,
Giuseppe Attanà: Board Member of Banca IMI S.p.a., Board Member of Be Consulting S.p.a., Board Member of Intesa Sanpaolo Vita S.p.a.,
Marco Roscio Ricon: CEO of MarketWall,
Luca Canevello: Innovation Manager of MarketWall,
Prakash Hariharan: Board Chairman and CEO of AnalytixInsight, and
Chaith Kondragunta: Board Member of AnalytixInsight.
The board of directors for MarketWall remains unchanged, consisting of Massimo Tessitore, Marco Roscio Ricon and Prakash Hariharan.
InvestoPro will be a significant evolution for MarketWall’s business, once approved. InvestoPro will offer online stock-trading and FinTech-enabled services on multi-device trading platforms (e.g., mobile, wearables, smart-TV) combined with high value financial content and education. InvestoPro will use Intesa Sanpaolo as its execution broker. InvestoPro will be offered initially in Italy with intentions to expand to other European countries.
MarketWall also operates www.marketwall.com which provides financial content, news, real-time quotes, and video news stories. This financial portal together with MarketWall’s other digital channels draws an audience of over approximately 2 million monthly views. MarketWall is a Samsung Electronics partner, and has developed financial apps that are already pre-loaded on certain Samsung devices. These existing initiatives contribute to MarketWall’s consumer brand awareness in Europe which will benefit InvestoPro, when launched.
AnalytixInsight believes the need for online banking and online trading platforms are increasing because of consumer behavior shifts caused by the COVID-19 pandemic and expects MarketWall’s business will benefit from this trend shift.
Intesa Sanpaolo is one of the top banking groups in Europe with approximately 11.8 million customers and approximately 3,700 branches throughout Italy. It has emerged as Italy's first digital bank
and is investing 2.8 billion euros in a strategic plan to increase the bank’s digitized business to 70%, with mobile being at the heart of the digital ecosystem.
VP Corporate Development
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. Our aim is to innovate methods to access financial markets by combining technology, data and user experience. We work to empower market data experience and investment knowledge by developing B2B and B2B2C multidevice platforms for major players in the Financial and Technology industries. Our 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.
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 relationship between the Company and Intesa Sanpaolo, the impact to MarketWall resulting from Intesa Sanpaolo’s plans, the ability for MarketWall or InvestoPro to obtain regulatory approvals to become an online broker, the impact of Covid-19 on the Company and MarketWall’s business, the use of the Company’s content by various parties; 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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