Le Lézard
Classified in: Science and technology, Business
Subjects: CON, PDT

Finzat And Thomas Ho Company LTD (THC) Launch The First Blockchain Powered Loan Transaction Network


NEW YORK, Sept. 25, 2018 /PRNewswire/ -- Finzat Block, a blockchain solution provider and a Block One Capital portfolio company, and THC, a nationally recognized leader in Asset-Liability Management and whole loan trading, have agreed to combine THC's loan trading network with Finzat's blockchain technologies to improve market efficiencies, transparency and profitability.

Adding senior advisor Alex J. Pollock's expertise in mortgage finance and financial strategies to Dr. Thomas Ho's long and successful track record in financial risk management and loan trading, gives Finzat distinct advantages as it looks to offer needed competition in the $10 Trillion U S residential mortgage market. Mr. Pollock created the highly successful MPF mortgage acquisition program; Finzat executives Michael Moore and Gnanesh Coomaraswamy were part of the MPF senior team. FHLBank mortgage acquisition programs total well over $55 Billion today.

"Dr. Ho is a proven expert in whole loan trading and balance sheet analysis. Adding Finzat's experience in mortgage finance and blockchain know-how will result in substantial synergies," says Dr. Gnanesh Coomaraswamy, Finzat CEO.

THC network covers a wide variety of loan types including, residential 1-4's, automobile, credit card HELOCs, SBA 7a's, SBA 504's, multifamily and commercial real estate with comprehensive balance sheet analytics. THC cloud-based asset-liability management model was chosen by the OTS, a U S federal financial regulator, to provide market risk analysis and reports for all its institutions. THC is the leading provider of ALM solutions treating credit, liquidity and interest rate risk coherently.

"THC is delighted to partner with Finzat, whose management team has a track record of outstanding achievement in the mortgage market and has acquired the utility blockchain technologies. Finzat will complement THC's asset-liability management analytical and loan transaction technologies," said Dr. Thomas Ho, president of THC.

The Finzat and THC partnership will benefit community financial institutions by bringing transparency and efficiency to loan markets while improving their asset-liability management capabilities. 

SOURCE Finzat


These press releases may also interest you

at 20:50
Rogers Communications Announces Voting Results from Annual and Special Meeting of Shareholders
Rogers Communications Inc. ("Company"), in accordance with Toronto Stock Exchange requirements, announced the voting results from its Annual and Special Meeting of Shareholders (meeting) held earlier today. Shareholders voted for all items of...

at 20:16
Evolution Equity Partners Raises $1.1 Billion and Doubles Down on UK and EU Cybersecurity Investment
Evolution Equity Partners announced the final closing of Evolution Technology Fund III, LP on April 16th, 2024, and total capital commitments of $ 1.1 Billion to back visionary entrepreneurs building next generation...

at 20:05
Renesas Reports Financial Results for the First Quarter Ended March 31, 2024
Renesas Electronics Corporation (TSE:6723) today announced consolidated financial results in accordance with IFRS for the three months ended March 31, 2024. Summary of Consolidated Financial Results (Note 1) Summary of Consolidated Financial...

at 20:00
Pulse Seismic Inc. Reports Q1 2024 Results and Increases Regular Dividend
Pulse Seismic Inc. ("Pulse" or the "Company") is pleased to report its financial and operating results for the three months ended March 31, 2024. The unaudited condensed consolidated interim financial statements, accompanying notes and MD&A are...

at 19:59
Genomma Lab Internacional Announces Results for the First Quarter 2024
Genomma Lab Internacional, S.A.B. de C.V. (BMV: LAB B) ("Genomma" or "the Company"), today announced its results for the first quarter of 2024. All figures included herein are stated in nominal Mexican pesos and have been prepared in accordance with...

at 19:58
NB Bancorp, Inc. Reports First Quarter 2024 Financial Results
Bancorp, Inc. (the "Company") , the holding company of Needham Bank, today announced its first quarter 2024 financial results. SELECTED FINANCIAL HIGHLIGHTS FOR THE FIRST QUARTER OF 2024 Net income of $8.7 million, or $0.22 per diluted share,...

More news about Business...


News published on and distributed by: