Finance
XTCC Partners with FINMAAL DMCC to Offer Carbon Offset Opportunities for Financial Services Customers
London, Dubai, Sept. 05, 2024 (GLOBE NEWSWIRE) — XTCC, a firm specialising in tradable financial instruments tied to high integrity carbon credits, today announces a strategic partnership with Finmaal, a premier e-marketplace service provider focused on fintech and insurtech solutions, headquartered in Dubai, UAE. This partnership empowers Finmaal customers to elect to offset Greenhouse Gas (GHG) emissions directly associated with the Finmaal products they purchase through its platform, marking a significant step forward in the integration of sustainability within financial services.
XTCC’s expertise in the global carbon market and experience building financial products underpinned with high-quality carbon reducing projects will be leveraged to create offset calculations and products that can be accessed seamlessly by Finmaal’s diverse customer base. This collaboration aligns perfectly with XTCC’s mission to embed environmental sustainability into financial solutions, enabling individuals and businesses to actively reduce carbon footprints.
“We’re thrilled to partner with Finmaal, a company that shares our commitment to sustainability,” said XTCC CEO, Seth Elliott, “Through this collaboration, customers purchasing financial products, such as insurance and banking, will now have the option to offset their estimated carbon emissions during the transaction. This integration not only allows customers to see the specific impact of their choices but also empowers them to neutralise their carbon footprint more effectively. This partnership is an important step in XTCC’s strategy to enhance the inter-relationship between capital markets and the natural world.”
Muhammad Ashfaq-Ur-Rehman, CEO of Finmaal, added “As an ethical and innovative company, Finmaal is excited to partner with XTCC to offer our clients a straightforward way to contribute to global sustainability efforts, linked directly to their financial products and services. For example, we will be able to estimate a vehicle’s annual carbon emissions over time and give purchasers the option to offset these at the point of sale. This is more than just ticking a box; it’s about offering tailored, actionable steps toward carbon neutrality, integrated into the financial services they already use.”
By leveraging Finmaal’s advanced technology and customer engagement strategies, this collaboration will ensure that users are both informed and equipped to take advantage of the carbon offset opportunities available. Both companies are committed to promoting sustainability in financial services, recognizing that integrating carbon offsetting into everyday financial activities is a crucial step toward global environmental responsibility.
-ENDS-
Contact
XTCC
Tina Kane
The Realization Group
tina.kane@therealizationgroup.com
Seth Elliott, CEO
seth@xtcc.investments
Finmaal
info@finmaal.com
About XTCC
The asset class for the net zero world XTCC is the world’s first stock market quoted investment ecosystem for high-integrity carbon credits sourced from verified, audited projects including renewable energy, nature-based solutions and blue carbon.
Investment is essential to bridge the multi-trillion-dollar gap in climate finance. XTCC has created financial instruments that, for the first time, establish fair market value as a reference for high-integrity carbon credits and provide capital markets with an ecosystem of financial instruments that enables liquidity to flow to the communities where it is most needed.
About Finmaal
Established in 2018 in Dubai, Finmaal is a leading fintech marketplace that combines cutting-edge technology with a deep focus and strong emphasis on financial literacy. Our mission is to empower individuals and businesses with the tools and knowledge they need to thrive in the ever-evolving financial landscape.
Finmaal leverages modern technology and embraces the latest trends to stay ahead of the curve. By harnessing the power of data, artificial intelligence, and automation, we drive innovation, streamline processes, and provide actionable insights that fuel informed decision-making.
With over 200,000 customers and in partnership with renowned insurance companies, Finmaal has established itself as a trusted name in the industry. Our wide range of offerings, including data science, market intelligence, intelligent automation and product design and development, are reshaping the way people interact with the world of finance. Our integrated platform provides seamless access to comprehensive solutions that cater to the diverse needs of our clients.
Find out more here.
CONTACT: Tina Kane The Realization Group tina.kane@therealizationgroup.com Seth Elliott, CEO seth@xtcc.investments
LONDON -Financial firms in Britain will be able to test artificial intelligence tools later this year in a regulatory “sandbox” launched on Monday by the country’s financial watchdog, part of a broader government strategy to support innovation and economic growth.
The Financial Conduct Authority (FCA) has partnered with U.S. chipmaker Nvidia to provide access to advanced computing power and bespoke AI software through what it calls a “Supercharged Sandbox.”
A sandbox refers to a controlled environment where companies can test new ideas such as products, services or technologies.
The programme is intended to help firms in the early stages of exploring AI, offering access to technical expertise, better datasets and regulatory support, the FCA said. It is open to all financial services companies experimenting with AI.
“This collaboration will help those that want to test AI ideas but who lack the capabilities to do so,” Jessica Rusu, the FCA’s chief data, information and intelligence officer, said. “We’ll help firms harness AI to benefit our markets and consumers, while supporting economic growth.”
Finance minister Rachel Reeves has urged Britain’s regulators to remove barriers to economic growth, describing it as an “absolute top priority” for the government.
In April, she said she was pleased with how the FCA and the Prudential Regulation Authority, part of the Bank of England, were responding to her call to cut red tape.
Nvidia said the initiative would allow firms to explore AI-powered innovations in a secure environment, using its accelerated computing platform.
“AI is fundamentally reshaping the financial sector,” said Jochen Papenbrock, EMEA head of financial technology at Nvidia, citing improvements in data analysis, automation and risk management.
He added that the sandbox will provide firms with a “secure environment to explore AI innovations using Nvidia’s full-stack accelerated computing platform, supporting industry-wide growth and efficiency.”
The testing is set to begin in October.
(Reporting by Sam Tabahriti; Editing by David Holmes)
Finance
Financial Experts: These Are the Top Mistakes Americans Make When Investing in the Stock Market
There’s no reason you should lose money investing in stocks, considering that the markets always move higher over time. This decade alone, the S&P 500 has risen by about 88%.
Just investing in an S&P 500 fund could have helped any investor generate solid profits. But a lot of investors still take a beating on Wall Street because they make common mistakes that can be easily avoided.
Advertisement: High Yield Savings Offers
Powered by Money.com – Yahoo may earn commission from the links above.
Read Next: I’m a Financial Advisor: 4 Investing Rules My Millionaire Clients Never Break
Check Out: These Cars May Seem Expensive, but They Rarely Need Repairs
Here are the top mistakes Americans make when investing in the stock market, according to three financial experts contacted by GOBankingRates.
Also see the No. 1 mistake Americans make with their Roth IRAs, according to experts.
Misjudging risk was cited by Christine Chase, vice president and financial consultant at Fidelity Investments. More precisely, she cited a tendency to misjudge risk tolerance, which means too many investors either take on too much risk or are too conservative. Both extremes can negatively impact your return.
“Excessive risk can lead to emotional decision-making and panic-selling during market downturns, while being too conservative may prevent your portfolio from growing enough to meet long-term goals or keep pace with inflation,” Chase said.
To help manage risk and navigate the market’s ups and downs, she recommended maintaining a well-diversified portfolio and working with a financial professional.
Be Aware: Suze Orman: 3 Biggest Mistakes You Can Make as an Investor
Anthony Grosso, a New York-based financial strategist and mortgage loan originator, told GOBankingRates the biggest mistake he sees people make is “blindly trusting the news” when investing. He learned this lesson himself as a younger investor.
“What I learned fast is that by the time something makes [it to the news], the market has already reacted,” Grosso said. “The news isn’t meant to educate — it’s there to get clicks and views. They will spin a story, beat a topic to death until you’re panicked or euphoric, and both of those times are when you make emotional decisions which are the worst ones.”
If you do watch the news, he recommended doing so with a healthy dose of skepticism.
“Try to get reports of the actual data — not someone’s opinion on the data,” Grosso said. “Learn to make your own opinions and it will give you the confidence to have a plan and stick with it.”
Not cutting losses is a mistake that happens a lot, according to Edward Corona, a Florida-based trader and publisher of The Options Oracle Newsletter. In fact, it happened to him early in his career.
First women's sports bar in San Francisco opens this week
Micah Parsons shows up to Dallas Cowboys facility ahead of minicamp
Suspect in deadly Brickell stabbing fell to his death, Miami police say
Opening statements expected in trial of Irish firefighter charged with raping woman at Boston hotel – The Boston Globe
Ticket prices to see Coldplay in Denver are dropping. Get yours now
-
Politics1 week agoMichelle Obama facing backlash over claim about women's reproductive health
-
Technology1 week agoOpenAI wants ChatGPT to be a ‘super assistant’ for every part of your life
-
Movie Reviews1 week agoThe Verdict Movie Review: When manipulation meets its match
-
Technology1 week agoWhy do SpaceX rockets keep exploding?
-
Finance1 week agoHere's what will boost your feeling of financial well-being the most, researchers say
-
West2 days agoBattle over Space Command HQ location heats up as lawmakers press new Air Force secretary
-
World1 week agoTwo killed in Russian attacks on Ukraine before possible talks in Turkiye
-
News1 week agoDepartment of Homeland Security lists sanctuary jurisdictions in Northern California