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Alcatel-Lucent Enterprise and 14 European Partners Collaborate on Extended Reality Sharespace Project to Create Future Social Hybrid Spaces

Alcatel-Lucent Enterprise

Alcatel-Lucent Enterprise, a leading provider of network, communications and cloud solutions, is taking part in the SHARESPACE consortium, a 6m€ initiative funded by the European Commission through the Horizon Europe research and innovation programme. The vision of SHARESPACE is to create future Social Hybrid Spaces (SHS) shared by humans (wearing XR glasses and mocap ) and avatars, where both are engaged in embodied collaborative tasks which model body movements and create interactions between the participants. This is made possible by capturing social sensorimotor primitives (actions involving both sensory and motor functions or pathways) through mobile connected innovative sensors. The environment is then reconstructed using novel extended reality (XR) technology. Through cognitive architecture, virtual avatars will facilitate joint-action, distance-based learning and social cohesion in the hybrid societies of the future. The aim of the programme is to expand interaction in a virtual world, with XR technology enriching key social features of communication tailored to the participants’ personal characteristics. With future deployment in sectors such as health, learning, entertainment, sport and in the workplace, the technology has the potential to revolutionise hybrid working and learning. With its ability to connect in real time any person, device, process or application, RainbowTM CPaaS (Communication Platform as a Service) provided by ALE and tailored for the project will allow the onboarding of avatars as a new type of endpoint, enriching the remote collaborative experience. This will bring an entirely new approach to the metaverse paradigm where real-time social interaction, ethics, sustainability are key. Sylvain Rivier, SHARESPACE coordinator for Alcatel-Lucent Enterprise, commented: "We are delighted to take part in this amazing project that will put Extended Reality at European users’ fingertips. With SHARESPACE, we have developed open human-centric virtual worlds with new real-time remote interactions and capabilities into Rainbow’s collaborative space. The capability to integrate human-driven or full-virtual avatars will improve the performance of human-avatar and human-robot motor coordination in complex scenarios.” The SHARESPACE consortium comprises 14 organisations across seven countries that will work together for three years. In delivering this vision, three scenarios will be developed by leading researchers and deep-tech companies with unique expertise in health, sport, and art. SHARESPACE will provide logistical, administrative and technical preparation of these real-world use cases with relevant institutions. Some examples include: • The Hospital Vall d'Hebron pain unit will provide remote assistance to people suffering from chronic back pain. Public demonstrations featuring the engagement of users and communities, utilising virtual reality (VR) and augmented reality (AR), will be presented during the World Pain Conference 2024 and 2025. • The “ peloton cycling challenge ” sport use case aims to open up new perspectives in sport training, sport entertainment and augmented virtuality in sport. Using personal, autonomous, and semi-autonomous avatars for optimised perceptual motor skills, amateur cyclists can learn how to ride in a virtual peloton. This will be showcased at the Paris 2024 Summer Olympics and the Tour de France 2025. • The “ shared creativity improvisation ” use case will allow artistic co-creation of an aesthetic environment intuitively produced from dancers' movements using AI avatars. This will be demonstrated at the Ars Electronica Festival 2024 and 2025. The participating academic groups, industry and clinical partners have cutting-edge expertise in all disciplines required for the successful implementation of the SHARESPACE platform, including AI, XR, mathematics and control, research ethics, psychosocial factors and technology, health psychology and cyberpsychology, and cognitive neuroscience and movement science. This also extends to expertise in wearables and mobile technologies, as well as the deployment of digital technologies in healthcare, sports, and the arts. Notes to the editor The participating academic groups, industry and clinical partners have cutting-edge expertise in all disciplines required for the successful implementation of the SHARESPACE platform. In particular, the consortium will combine expertise and research approaches from AI and XR ( DFKI, CYENS, Golaem, INRIA ), mathematics and control ( CRdC ), research ethics ( De Montfort University ), psychosocial factors and technology, health psychology and cyberpsychology ( Universitat Jaume I De Castellon ), cognitive neuroscience and movement science ( University of Montpellier, UKE ) with expertise in wearables ( LST, Ricoh ) and mobile technologies ( Alcatel-Lucent Enterprise ), as well as in the deployment of digital technologies in healthcare ( VHIR ), sports ( INRIA ), and the arts ( Ars Electronica ). SHARESPACE is a 6 Million-euro initiative funded by the European Commission through the Horizon Europe research and innovation programme. The consortium is composed of 14 organisations across seven countries that will work together for 3 years. About Alcatel-Lucent Enterprise Alcatel-Lucent Enterprise delivers the customised technology experiences enterprises need to make everything connect. ALE provides digital-age networking, communications and cloud solutions with services tailored to ensure customers’ success, with flexible business models in the cloud, on premises, and hybrid. All solutions have built-in security and limited environmental impact. Over 100 years of innovation have made Alcatel-Lucent Enterprise a trusted advisor to more than a million customers all over the world. With headquarters in France and 3,400 business partners worldwide, Alcatel-Lucent Enterprise achieves an effective global reach with a local focus. ------------------------------------------------------------------------------------------------------------------- Mocap: Motion capture is the process of recording the movement of objects or people German Research Center for Artificial Intelligence Research and Innovation Centre of Excellence in Cyprus National Institute for Research in Digital Science and Technology Regional Competence Centre for new technologies University Medical Center Hamburg-Eppendorf SIA Lightspace Technologies Vall d’Hébron Research Institute Contact Details Fox Agency Katherine Skidmore +44 20 3750 6688 katherine@fox.agency Alcatel-Lucent Enterprise Carine Bowen press@al-enterprise.com Company Website https://www.al-enterprise.com/

May 16, 2023 03:00 AM Eastern Daylight Time

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Quantum Blockchain's Leap Ahead

Quantum Blockchain Technologies PLC

Quantum Blockchain Technologies' PLC (AIM:QBT) CEO, Francesco Gardin, announced an impressive proprietary Bitcoin algorithm developed by their research and development teams. The algorithm utilizes machine learning to guide miners in the search for promising areas in the vast mining space. By optimizing existing miners rather than building new hardware, their algorithm increases the chances of finding the winning hash by 2.6 times compared to those without it. While energy savings of over 4% are a positive outcome, the primary focus is on improving the chances of winning. The news has garnered attention from experts in the sector, demonstrating the significance of this breakthrough. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com

May 16, 2023 03:00 AM Eastern Daylight Time

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Respond.io Joins Forces with WhatsApp to Assist Enterprises in Driving Growth

Respond.io

KUALA LUMPUR, MALAYSIA - Media OutReach - 12 May 2023 - Leading message platform respond.io is now a WhatsApp Business Solution Provider (BSP), placing it among an exclusive group of WhatsApp BSPs worldwide. This significant milestone means that businesses can now take advantage of its advanced messaging features and capabilities to connect with their customers like never before. What’s in it for Businesses Worldwide Businesses using respond.io can now seamlessly integrate the WhatsApp Business Platform directly from Meta’s cloud servers for increased efficiency and reliability. Meta's worldwide network of servers is tactically positioned to reduce latency, resulting in faster updates and improved message delivery times. By becoming a WhatsApp BSP, respond.io now has direct access to Meta's support team. This new development enables respond.io to provide its customers with exceptional support and assistance with common requests, including WhatsApp Business verification. As an omnichannel customer communication management software, respond.io adds value to WhatsApp API's capabilities. It enables multiuser access for WhatsApp so all agents and teams can respond to a high volume of messages from one WhatsApp number. Plus, respond.io offers businesses a suite of powerful tools including an advanced automation builder, detailed analytics on team and agent performance, and seamless integration with custom messaging channels and over 5,000 applications, including CRMs and e-commerce platforms such as Hubspot, Salesforce, Shopify, WooCommerce, Magento and more. Now, businesses will be able to manage all their conversations and WhatsApp Business Accounts on respond.io. This includes managing their WhatsApp business profile, message template creation and approval, and WhatsApp conversation charges, all from a single interface. Respond.io also enables businesses to comply with WhatsApp's policies and regulations, such as collecting customer consent to receive messages from a business. From offering multiple chat entry points, like ads that click to WhatsApp, QR codes and chat links, to obtaining opt-ins as part of an automated conversation, respond.io removes the friction in customer communication. A Commitment to Advanced Messaging Solutions Respond.io believes that instant messaging is the future of customer communication, and is committed to delivering the most advanced and effective messaging solutions to businesses across the globe. WhatsApp is a key channel for respond.io as it is one of the most widely used messaging apps in the world. With over 2 billion active users across 180 countries, it has become an essential channel for businesses to engage with customers. As of today, respond.io helps thousands of medium and enterprise customers worldwide unlock the power of instant messaging to deliver great customer experiences, build brand loyalty and drive growth and revenue. Among others, it empowered 200 agents at the Indian social media platform Sharechat to chat with 50,000 content creators using a single WhatsApp number and enabled Yoho, Hong Kong’s leading e-commerce platform, to grow its customer base by almost 10% in just four months by dramatically improving its sales and support experience. "Empowering businesses to communicate seamlessly with their customers is our top priority as a WhatsApp Business Solution Provider. Our platform offers a personalized, conversational experience that fosters stronger relationships. By continuously expanding our capabilities, we enable businesses to achieve their goals and stay ahead of the curve. This collaboration with WhatsApp unlocks tremendous potential, allowing us to remain at the forefront of the latest trends to keep providing businesses worldwide with exceptional business messaging solutions." Gerardo Salandra, CEO of respond.io. Its new status as a WhatsApp BSP will better equip respond.io to help businesses improve the efficiency of their messaging operations, as well as boost customer satisfaction and retention for steady business growth. Interested clients can try the messaging software for free and get an account on the WhatsApp Business Platform in minutes by signing up on respond.io. About respond.io Respond.io is a customer conversation management software that enables companies to respond to messages from any channel from one centralized dashboard by teams of all sizes, thus making communication with customers easier, faster, and more satisfactory. Over 10,000 companies from 86 countries, including British Airways, Klook, Decathlon, Roche and Bigo use respond.io. The platform processes 120 million messages per month, beating three of its main competitors combined. In 2022, respond.io raised $7 million in Series A funding, led by Headline Asia with participation from AltaIR Capital, Smart Partnership Capital, Sterling Oak Group and Calendula Ventures. The company is headquartered in Malaysia. Contact Details Localization Project Manager Polina Usynina +60 17-229 9406 polina@respond.io

May 16, 2023 02:00 AM Eastern Daylight Time

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ChainUp Launches - NFT Solution Based on MPC Technology

ChainUp

15 th May 2023: ChainUp, a global blockchain technology service provider has announced the launch of its latest NFT (Non-Fungible Tokens) solution built on MPC (Multi-Party Computation) Technology offering support for multi-main chain NFT asset management, collection, transfer and DeFi (Decentralized Finance) applications. The solution aims to serve as a reliable bridge between NFTs and Web3 decentralized internet ecosystem based on blockchain technology. NFTs are digital assets built on decentralized & distributed ledger technology finding applications in various fields such as gaming, art and music. In the Web3 era, NFTs have gained significant attention attracting artists, creators, collectors and investors enabling new forms of value exchange and innovation in the digital world. The NFT solution based on MPC Technology provides services to institutional investors including asset management firms, insurance companies, banks, exchanges, payment and wallet providers. It opens up new business opportunities for entities, enabling them to explore and expand into emerging areas such as digital art and virtual reality, tapping into the vast potential of the NFT space. By offering a wide range of services, our solution supports the transformation from traditional digital assets to NFTs. When it comes to NFTs, security is of paramount importance. The unique properties of NFTs as digital assets make robust security measures a crucial consideration. MPC Technology is known for its secure multi-party computing capabilities addressing the requirements of asset management security and privacy protection. ChainUp’s NFT solution utilizes advanced security measures including MFA (multi-factor authentication) and risk management providing secure storage & transaction environment for NFT holders. This facilitates a seamless user experience ensuring secure and reliable management of NFT assets. In addition to its robust security measures, ChainUp’s solution for NFT management also offers users flexibility and choice when it comes to trading. Users can trade their NFT assets with various mainstream cryptocurrencies, including ETH, BTC, and USDT. "NFTs are emerging strongly as an upstart in the digital asset space," said Sailor, founder and CEO of ChainUp Group. "NFT solutions based on MPC technology will play an increasingly important role in the Web3 era." About ChainUp Group Founded in 2017, ChainUp is a leading end-to-end blockchain technology solutions provider covering infrastructure development and ecosystem support. Built on the mission to empower businesses through blockchain technology, ChainUp’s innovative and all-around compliant solutions include digital asset exchange systems, NFT trading systems, wallet solutions, liquidity solutions, and digital assets custody and management. Headquartered in Singapore and with offices around the world, the company has served more than 1,000 clients in 30 countries, reaching over 60 million end-users. For more information, please visit: www.chainup.com. Contact Details ChainUp Media Team pressrelease@chainup.com Company Website https://www.chainup.com/

May 16, 2023 12:09 AM Eastern Daylight Time

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BingX CEX lists Milady Meme Coin and others on its trading platform

BingX

SINGAPORE - Media OutReach - 16 May 2023 - BingX, one of the leading cryptocurrency exchanges, has been making waves in the market with its proactive approach to partnering with reputable meme coin projects. The platform has successfully listed several highly regarded meme coins, including FOUR Coin, MILADY Coin and PIZABRC Coin, providing users with exciting trading opportunities. Meme coins have gained significant popularity in recent days as BTC suffers from bears, capturing the attention of crypto enthusiasts worldwide. Recognizing this trend, BingX has actively sought partnerships with credible meme coin projects to offer a diverse range of meme-based cryptocurrencies on its trading platform. By listing these reputable meme coins, BingX aims to cater to the growing demand and provide users with a secure and reliable trading environment. However, BingX emphasizes the importance of responsible investing and urges users to exercise caution when trading meme coins. The volatile nature of these assets and their unpredictable market behavior necessitate users to Do Your Own Research ( DYOR ) before engaging in any investment activities. BingX is committed to empowering users by providing educational resources and promoting responsible trading practices. To ensure the safety of its users, BingX has implemented stringent due diligence procedures and robust risk management protocols. The platform conducts thorough evaluations of meme coin projects before listing them, considering factors such as project credibility, community engagement, and long-term viability. By prioritizing user safety and security, BingX aims to instill confidence in its users when trading meme coins. BingX continues to revolutionize the cryptocurrency trading landscape by introducing reputable meme coins and fostering a community that embraces responsible trading practices. The platform's dedication to user safety and its commitment to staying at the forefront of market trends have solidified BingX's position as a leading cryptocurrency exchange. About BingX Founded in 2018, BingX has grown to become the world's leading social trading platform. It is a global digital asset, spot, and derivatives trading platform that provides a safe, reliable, user-centric, and open ecosystem with intuitive social trading features. BingX offers popular Meme projects spots and derivative trading to more than 100 countries and regions worldwide with over 5 million users. BingX QA is a Q&A engine for trading analysis and investment guidance. Find the latest analysis includes fundamental analysis and price predictions for Milady Coin, Homer Simpson Coin & Sponge Bob Coin Contact Details BingX elvisco@bingx.com Company Website https://bingx.com/en-us/

May 15, 2023 10:32 PM Eastern Daylight Time

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Cedrus Group Signs Investment And Advisory Collaboration Agreement With Xiuzheng Pharmaceutical Group

Cedrus Group

BEIJING, CHINA - Media OutReach - 16 May 2023 - Cedrus Group ("Cedrus"), a global Swiss financial group, is pleased to announce that it has signed a collaboration agreement with Xiuzheng Pharmaceutical Group ("Xiuzheng") in March 2023. Xiuzheng is a renowned Chinese pharmaceutical major; namely, it engages in R&D, production and marketing of patent medicine, chemical and biological medicine, franchise operation of pharmacies, and standardized cultivation of Traditional Chinese Medicine (TCM). Xiuzheng owns 130 subsidiaries, employs a workforce of over 100,000 and has more than 2,000 references of medicines and health foods. Central to the collaboration, which jointly aims to assess and conduct direct investments in the life sciences industry, is the eagerness to invest in the world's leading innovators in the sector and become their trusted partner in their expansion into the Greater China Region. Bringing these innovative companies to the region will yield a plethora of benefits for the already highly sophisticated Chinese life sciences sector. Cedrus will leverage its connectivity across the life sciences industry globally, along with its deploying its distinguished investment banking services and capitalizing on its European headquarters in Zurich, to act as a holistic enabler and connector between Xiuzheng and overseas technologies and products in the course successfully executing cross-border transactions. Additionally, Cedrus will advise Xiuzheng in order to establish itself on a global-scale and write further chapters in its success story. In addition to investment, Xiuzheng will provide valuable support to the opportunities brought to China, namely in the form of clinical trials advisory, access to manufacturing partners and utilizing its experienced work force to market and distribute products. For over a decade, Cedrus has been actively engaged in bringing foreign innovative technologies, products and treatments from across the life sciences space, in particular from Switzerland and other European countries to the Greater China region. Cedrus, in its capacity as an investor and advisor, identifies visionary companies looking to gain early access to one of the largest pharmaceutical markets in the world and partners with them, offering investment and ongoing advisory in their market entry and growth in China. Mr. Rani Jarkas, Chairman of the Cedrus Group, said that "We are proud to be working closely with Xiuzheng to invest and bring innovative life sciences companies to China. An investment committee has been formed and regular meetings are held to assess to robust pipeline of opportunities. Combining the unique domain expertise of Cedrus and Xiuzheng, we are creating an unparalleled and momentous win-win situation where we bring unique technologies to China and build on the esteemed reputation of our partner Xiuzheng in China and support its transition into a world-class Chinese global pharmaceutical group." About Cedrus Group Cedrus Group is a private Swiss financial group with integrated investment banking and investment capabilities. In addition to offering Private Wealth Management, Investment Management and Financial Advisory Services, Cedrus, through its group companies, invests directly and globally in businesses and projects by leveraging its specific expertise in life sciences, natural resources, nanotech and innovative technologies. Cedrus' Greater China Region headquarters are in Beijing, with European headquarters in Zurich and further offices strategically positioned across the globe. Contact Details Cedrus Group Amy Sin +852 3519 2828 information@cedrusinvestments.com

May 15, 2023 10:00 PM Eastern Daylight Time

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Kite Hill PR Reaches 10-Year Milestone

Kite Hill PR

Kite Hill PR, the award-winning agile tech PR and B2B communications agency, celebrates 10 years of business and has been named a Top B2B PR Agency by PR Daily. The award honors agencies that deliver on their promises to clients and raise the bar on effective communications strategies and tactics. The agency credits its success to its award-winning culture of collaboration, which has prioritized and operationalized mentorship. To celebrate this notable business milestone, the agency is launching a “Modern Mentorship” campaign highlighting advice from top female leaders on innovation, agility and collaboration. Helmed by an all-female leadership team, the agency has worked with over 180 clients in the last decade, organized and managed 30+ industry events and won 18 awards for its culture, leadership and the results it drives for clients. The company’s notable organic growth was bolstered by the acquisition of Cutler PR in 2018. With a history of working with tech innovators, the agency’s practice areas currently include adtech, media, B2B tech, healthtech, fintech, climate tech, cybersecurity and mobility. Kite Hill PR’s founding team launched Communications Week® in 2014, a preeminent event created to inspire, inform and connect those in PR and communications, which was acquired by Ragan Communications in 2021. The company’s innovative approach to agile PR, the PR Sprint ® Workflow, was launched in 2018 and the company was awarded a US trademark for this unique approach to managing PR campaigns in 2021. “I attribute our continued success to our culture of innovation, collaboration and learning. Over the last decade, we have focused on supporting our team through robust learning and development resources to fuel growth and encourage innovative thinking,” said Tiffany Guarnaccia, CEO and Founder of Kite Hill PR. “Mentorship plays a huge role in my life and in our agency. In the spirit of collaboration, we’re marking our anniversary by celebrating modern mentorship.” The anniversary video series “Modern Mentorship” highlights perspectives from industry luminaries on mentorship and features reflections from the last decade along with actionable tips for professionals seeking career advice. Interviewees include Janet Balis, Partner, CMO Practice Leader - Business Transformation, EY; Shannan Herbert, EVP, Inclusive Credit; Tameka Kee, Deputy Managing Director, Coalition for Innovative Media Measurement; Bonnie Kintzer, President and CEO, TMB; Linda Ong, CEO and founder, CULTIQUE; Tiffany Ricks, CEO, HacWare; Diane Schwartz, CEO, Ragan Communications; Patrice Tanaka, founder, Joyful Planet; Tonia Wellons, President and CEO, Greater Washington Community Foundation and Lisa Marrocchino, CEO of Proteus Ocean Group. Videos will be released on the Kite Hill PR website, LinkedIn and YouTube today through July 2023. “As we continue to shape a best-in-class work from anywhere culture, we have operationalized our L&D program to make mentorship a part of our DNA. We cultivate peer-to-peer relationships based on various parameters, encourage reverse mentoring, and create opportunities for department levels to problem solve and learn from one another,” said Guarnaccia. “The campaign is a natural extension of Kite Hill PR’s ethos as we seek to strengthen the PR industry at large and empower the next generation of leaders.” To learn more about Kite Hill PR’s unique approach to mentorship and its Modern Mentorship campaign, visit https://www.kitehillpr.com/modern-mentorship Headquartered in New York City with team members in the UK and across North America, Kite Hill PR is a leading B2B communications and agile tech PR agency with practice areas in adtech, martech and creative agencies; B2B and enterprise tech; climate tech; cybersecurity; fintech; healthtech; media and entertainment and mobility. The company's winning approach combines thought leadership, strategy and media relations to drive clients' businesses forward. Kite Hill PR has been recognized as one of the "Top Tech Specialist PR Agencies in NYC,” “Most Powerful PR Firms,” and a “Top 50 PR Firm in America” by the Observer, a “Best Place to Work” by PR News and one of "America's Best PR Agencies" by Forbes Contact Details Kite Hill PR Kerriann Becker kerriann@kitehillpr.com

May 15, 2023 10:31 AM Eastern Daylight Time

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How Does A Tweet Affect Your Business? FiscalNote’s (NYSE: NOTE) Aicel Technologies Can Tell You

Benzinga

By Jad Malaeb, Benzinga Turning abstract and unstructured data into actionable information can feel like a monumental task, yet it often has a great effect on businesses. “Reputation,” for example is an abstract concept that will likely generate a different definition depending on who you ask, but its impact is so important that it is included in financial statements like balance sheets (in the form of Goodwill and other designations). Similarly, sentiment, another valuable abstraction created from Tweets, “Reddit Storms” and Facebook groups, can often lead to a significant impact on businesses, generating trends, spending sprees and brand loyalty that translate into profits. But interpreting this information is a difficult task and using it to generate actionable insights is even more challenging. When trying to figure out how unstructured data affects one’s business and surroundings, it’s often best to consult experts. As a technology company specializing in the analysis and tracking of legislation and regulations in the U.S. and abroad, FiscalNote Holdings Inc. (NYSE: NOTE) is a preferred destination for some of the biggest organizations in the world, including the U.S. government itself – and its latest acquisition can help make sense of the flow of social media information and other unstructured data to get the most value from it. Interpreting Unstructured Data Using FiscalNote’s Aicel Technologies Recently, FiscalNote acquired Aicel Technologies, a rapidly-growing alternative data company based in Seoul, South Korea. Aicel processes both proprietary and licensed data, including trade and export information, patent filings and aggregated consumer and retail transactions, on a subscription basis for customers such as asset management companies, multinational corporations, hedge funds and investment firms. In the complicated task of turning abstractions into actionable data, Aciel is a specialist. The company uses advanced technology to collect, refine, process, and deliver tailored data to customers while also powering a data exchange marketplace through its Data-as-a-Service model. As an alternative data platform, Aicel allows users to capture value and insight from unstructured data, helping blue-chip customers like hedge funds, asset managers and quant firms capture alpha-generating opportunities. Aicel will augment FiscalNote's existing AI data products, including FiscalNote AI Solutions, DataHunt, and Predata, and its growth strategy by expanding alternative data sources, deepening expertise in sophisticated artificial intelligence, data transformation, data ingestion, and API development. The combination of Aicel with FiscalNote will accelerate the continued expansion of its customer base and revenues through a strong network of established partners, as well as sales and marketing relationships with leading firms. Whether it’s Tweets, blog posts, market prices, user information or consumer trends, FiscalNote’s newly acquired tool, Aicel, will sift through a myriad of seemingly nonsensical data and provide users with a structured, insightful path to capturing business opportunities. Click here for more. This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

May 15, 2023 10:15 AM Eastern Daylight Time

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Kaleidoscope Launches Full-Service Scholarship Funds Disbursement Platform

Rally Ventures

Kaleidoscope, the leading fintech platform driving education-based philanthropy, today announced the launch of its full-service scholarship funds disbursement platform. The Kaleidoscope fintech platform connects sponsoring organizations, donors and applicants. It has facilitated over $600M in scholarships and grants since it was founded in 2017. Philanthropy broadly is a $500B per year industry, with more than $160B per year distributed in the form of scholarships to pay for higher education and advancement. Despite its market size, philanthropy has been chronically underserved by financial technology and modern software solutions. Kaleidoscope’s breakthrough solution enables organizations to easily host, manage and seamlessly operate branded scholarship and grant programs. And now, its newly launched disbursement platform takes Kaleidoscope’s capabilities to the next level by making it easy to dynamically distribute and track money awarded to recipients. There is enormous financial, tax and operational complexity around the transfer of scholarship funds from sponsor organizations to students. This burden often falls to stretched teams who don’t have the financial and compliance expertise to carry out the process, which can lead to errors and delays in getting funding to students. Kaleidoscope’s cutting-edge disbursement platform makes awarding money a seamless experience, while eliminating the administrative and compliance burden from busy teams. Features of Kaleidoscope’s disbursement platform include end-to-end management of the disbursement process, comprehensive reporting capabilities and the ability to transfer funds via check, wire, ACH and spend-managed Kaleidoscope Pre-Paid Card. "Kaleidoscope is already the leading scholarship management operational software platform," said Kaleidoscope CFO Jody Johnson. “We are now also the leading financial solutions platform for the scholarship industry. The funds disbursement industry has been stagnant for too long. We are excited to bring market leading technology tools to automate funds distribution, tracking, compliance and reporting to busy scholarship organizations.” “Kaleidoscope has been a trusted financial and scholarship partner for many years. We appreciate the partnership with Kaleidoscope because it simplifies a very complex process for our team, and we can be certain it’s being handled with care. Our Live Más Scholarship recipients also appreciate having the expert Kaleidoscope team available to guide them through the disbursement process,” said Marissa Lara, Taco Bell Foundation. To learn more about how Kaleidoscope can improve your scholarship or grant program, visit mykaleidoscope.com. About Kaleidoscope Kaleidoscope is a cloud-based fintech platform enabling organizations to fund, design, administer and host branded scholarship and grant programs. The platform uses leading technologies to deliver an end-to-end solution for sponsors, organizations and those they support. Kaleidoscope is building a future where financial aid and funding solutions are smart, cost-effective and as unique as the applicants they serve. Contact Details Rachel Subasic rachel@rallyventures.com Company Website https://www.mykaleidoscope.com/

May 15, 2023 08:03 AM Central Daylight Time

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