Connect with us

Technology

Bank of Clarke Becomes First Community Bank in Virginia to Partner with Greenlight to Enhance Financial Literacy for Children

Published

on

BERRYVILLE, Va., July 22, 2024 /PRNewswire/ — Bank of Clarke has announced a new partnership with Greenlight® Financial Technology, Inc. Through this collaboration, Bank of Clarke customers will receive free access to the award-winning Greenlight family finance app as part of the Greenlight for Banks program. This initiative underscores Bank of Clarke’s dedication to serving its footprint by promoting financial literacy.

“Bank of Clarke’s partnership with Greenlight will empower our customers to educate their children about money management, fostering healthy lifelong financial habits,” said Brandon Lorey, President and CEO of Bank of Clarke. “We’re proud to be the first community bank in Virginia to offer this innovative program. Some of our senior staff are already using it with their children and have given it rave reviews.”

Greenlight provides parents with a convenient, cashless solution to automate allowance payments, manage chores, set flexible spending controls, and send money instantly. Children gain practical money management experience by learning to earn, save, donate, and spend wisely under parental supervision using the Greenlight debit card and app. Children also get access to Greenlight Level Up™, an in-app financial literacy game with an excellent curriculum, educational challenges, and rewards.

“We created the Greenlight for Banks program to assist financial institutions in better serving families and engaging the next generation with top-notch financial education,” said Matt Wolf, SVP of Business Development at Greenlight. “Community banks like Bank of Clarke are ideally positioned to enhance financial literacy thanks to their strong community ties and exceptional customer care.”

As of July 16, 2024, Bank of Clarke customers can register online at greenlight.com/clarke to receive a free Greenlight subscription and link their Bank of Clarke account as a funding source. Parents can add up to five children, each with their own debit card.      

About Bank of Clarke

Founded on April 1, 1881, Bank of Clarke now operates 14 full-service branches, two loan production offices, a wealth management office, and one drive-through only facility. The main office is located at 2 East Main Street in Berryville, Virginia, with additional offices in greater Clarke County, Frederick County, Fauquier County, Loudoun County, Fairfax County, and the City of Winchester, VA, as well as an office in Frederick, Maryland.

Bank of Clarke’s mission is to be a trusted partner in the communities it serves, providing financial solutions to help people achieve their financial goals at every life stage. The bank aims to build lifelong relationships with customers, employees, shareholders, and communities, maintaining its status as a high-performing, independent community bank that offers best-in-class technology, products, and services. For more information, visit www.bankofclarke.bank. Member FDIC.

About Greenlight

Greenlight Financial Technology is the family fintech company on a mission to help parents raise financially-smart kids. Its product, Greenlight, is an award-winning banking app, complete with a debit card for kids and teens and safety features for the whole family. Parents can automate allowance, manage chores, set flexible spending controls, and invest for their family’s future. Kids and teens learn to earn, save, spend wisely, give, and invest. Together, families can also stay safe and connected with location sharing, SOS alerts, crash detection with 911 dispatch, driving scores, reports and real-time trip alerts.

Greenlight partners with more than 60 leading banks, credit unions, and employers to bring its family finance solution to more families through the Greenlight for Banks, Greenlight for Credit Unions, and Greenlight for Work programs.

The Greenlight Debit Card is issued by Community Federal Savings Bank, member FDIC, pursuant to license by Mastercard International. Greenlight Investment Advisors, LLC, an SEC Registered Investment Advisor, provides investment advisory services to its clients. Investing involves risk and may include the loss of principal. Greenlight is a financial technology company, not a bank. The Greenlight app facilitates banking services through Greenlight’s bank partners. For more information, please visit: greenlight.com. 

View original content to download multimedia:https://www.prnewswire.com/news-releases/bank-of-clarke-becomes-first-community-bank-in-virginia-to-partner-with-greenlight-to-enhance-financial-literacy-for-children-302203235.html

SOURCE Bank of Clarke

Continue Reading

Technology

How President Xi Jinping Has Charted the Course for Boosting China’s Strength in Finance: Nurturing a Financial Culture with Chinese Characteristics

Published

on

By

BEIJING, Nov. 3, 2026 /PRNewswire/ — A news report from en.qstheory.cn:

Boosting strength in finance requires us to enhance not only China’s hard power but also its soft power. With an outstanding financial culture, we can shape the values that orient the financial sector, create internal incentives and constraints, and provide the moral foundations for the law and supervision. In this regard, President Xi Jinping has stressed the need to operate in an honest and trustworthy way and never cross the line; to prioritize the greater good in the pursuit of interests, rather than placing self-interest above all else; to adopt a steady and prudent approach and resist the urge to recklessly seek quick gains; to uphold fundamental principles while breaking new ground and ensure finance does not become decoupled from the real economy; and to uphold the law, ensure regulatory compliance, and refrain from misconduct. These requirements not only draw on the essence of traditional Chinese culture, but also articulate the philosophy underpinning modern finance.

Honesty is the lifeblood of finance. Since its advent, finance has been intrinsically tied to trust. China’s commercial traditions have long placed a premium on honoring one’s commitments. The requirement to operate in an honest and trustworthy way and never cross the line aims to turn the pursuit of honesty into a binding code of conduct that spans all dimensions of financial activity and ensure that financial institutions and practitioners consciously honor their commitments. In this way, the spirit of the contract, market rules, and professional ethics will become conscious norms throughout the financial sector, leaving no room for fraud or breaches of trust.

Properly managing the relationship between principle and profit is the linchpin for balancing the dual nature of finance. While capital is inherently profit-seeking, it must adhere to the baseline requirement of upholding principle. Finance is both functional and profit-driven in nature. The unique wisdom of Chinese culture lies in valuing both principle and profit, while placing greater emphasis on the former. At its core, the requirement to prioritize the greater good in the pursuit of interests aims to ensure that the pursuit of profit gives way to the functional role of finance. Financial activities must remain anchored in the overriding goals of enhancing the efficiency of the real economy and improving public wellbeing. The financial sector must fulfill its social responsibilities and develop symbiotically with the economy, society, and the environment.

Prudence can be thought of as an “immune system” preventing the spread of risk. As finance carries risk in its very DNA and has the effect of amplifying leverage, the reckless pursuit of quick gains must be avoided at all costs in the financial sector. So-called innovation and growth pursued without sufficient prudence will ultimately backfire. A steady and prudent approach must therefore become an innate part of the self-discipline and conscious practice guiding the sector. Institutions must cultivate the correct perspectives on operations, performance, and risk management. They need to strike the right balance between stability and progress, between short-term and long-term development, and between development and security, all aimed at steady and sustainable high-quality development.

*This is an excerpt from an article titled “How President Xi Jinping Has Charted the Course for Boosting China’s Strength in Finance” by Qiushi Editorial Department published in Qiushi Journal, English edition, No. 2, 2026. Full text: https://en.qstheory.cn/2026-05/25/c_1184007.htm 

View original content:https://www.prnewswire.com/news-releases/how-president-xi-jinping-has-charted-the-course-for-boosting-chinas-strength-in-finance-nurturing-a-financial-culture-with-chinese-characteristics-302927440.html

SOURCE en.qstheory.cn

Continue Reading

Technology

Mashreq launches generative AI capabilities to strengthen fraud risk management with Clari5

Published

on

By

BENGALURU, India, Nov. 3, 2026 /PRNewswire/ — Mashreq, a leading financial institution in the MENA region, has launched new generative AI capabilities within its fraud platform in collaboration with Clari5 – A Perfios Company. The move brings tangible benefits across three priority areas: enhancing fraud detection effectiveness, improving analyst productivity, and supporting stronger investigative decision-making.

Announced at Mashreq’s Innovation Hub in Dubai in the presence of senior leadership from both organizations, the launch demonstrates how generative AI can be applied within a banking environment to complement the expertise and judgement of fraud professionals.

Ahmed Abdelaal, Group Chief Executive Officer at Mashreq, said: “In an increasingly digital financial landscape, fraud is becoming more sophisticated, and the way banks respond must adapt accordingly. At Mashreq, we are committed to implementing AI responsibly in areas where it can have a meaningful impact, strengthening the resilience of our operations and the trust our customers place in us.”

Nitin Chugh, MD and Group CEO, Perfios, said: “Our collaboration with Mashreq demonstrates how generative AI can help banks tackle the growing complexity of financial crime by bringing together disparate information, accelerating investigations and enabling better-informed decisions. The goal is to augment investigators’ expertise, not automate judgement, while ensuring AI operates with the rigour and accountability that financial crime management demands.”

Rivi Varghese, Co-Founder and CEO, Clari5, said: “Banks don’t need AI that acts on its own. They need AI they can govern by their own rules. Clari5 has shown how AI can operate on-premises inside a bank’s own environment, grounded in the bank’s context, and remain auditable, explainable and under human control. We are proud to have gone live with Mashreq and set an example of how enterprise-grade AI should operate in managing financial crime.”

Rania Nerhal, Group Chief Client Experience & Conduct Officer at Mashreq, said: “The value of generative AI lies in its ability to help us interpret relevant information and respond to emerging risks with greater speed, consistency, efficiency, and precision. This launch is part of our continued investment in deploying the latest technology to evolve our fraud risk management framework.”

Developed through the ongoing collaboration between Mashreq and Clari5, the new capabilities further strengthen the bank’s fraud detection platform. They are designed to deliver two key benefits:

Seamless customer experience: Supporting faster, more consistent, and more effective fraud detection.Greater consumer trust: Reinforcing confidence in the bank’s ability to protect customers and respond to emerging risks.

About Mashreq:

Mashreq is a leading financial institution headquartered in Dubai, serving individuals, entrepreneurs, corporates, and institutions across the UAE and key regional and international markets. With a heritage spanning nearly six decades, Mashreq combines digital-first innovation with deep relationship banking across retail banking, corporate and investment banking, global markets, transaction banking, Islamic banking, wealth management, and treasury. The bank delivers secure, advanced, and customer-centric experiences while actively driving the transition toward a sustainable economy. Through a robust Environmental, Social, and Governance (ESG) framework, Mashreq is committed to facilitating sustainable finance, fostering responsible operations, and delivering positive societal impact.

With an extensive international footprint spanning the UAE, Oman, Qatar, Kuwait, Bahrain, Egypt, Pakistan, Türkiye, India, the UK, the US, and Hong Kong, Mashreq seamlessly connects regional businesses with global markets while maintaining deep local expertise.

Guided by its core purpose to help customers Rise Every Day, Mashreq partners with clients to navigate change, unlock sustainable growth opportunities, and achieve long-term success.

For more information, please visit: www.mashreq.com

About Clari5:

Clari5 – A Perfios Company, is the leading provider of real-time financial crime management platforms for banks, insurance companies, telcos and other financial institutions worldwide. Powered by AI-native capabilities, Clari5 helps detect, prevent, report and investigate financial crime in real time. Trusted by 80+ banks across 30+ countries for over two decades, Clari5 unifies fraud and AML on a single platform. It processes 12+ billion transactions every month and protects more than 1 billion accounts. Clari5 is part of the Perfios group, India’s largest B2B SaaS TechFin, serving over 1,000 financial institutions across 18 countries. To know more, visit www.clari5.com.

 

View original content to download multimedia:https://www.prnewswire.com/in/news-releases/mashreq-launches-generative-ai-capabilities-to-strengthen-fraud-risk-management-with-clari5-302927445.html

Continue Reading

Technology

RedotPay Deepens Hong Kong Investment as OASES Strategic Enterprise Partner

Published

on

By

RedotPay is investing in global talent in Hong Kong to scale the city’s stablecoin payments industry and entrepreneurial ecosystem

HONG KONG, Nov. 3, 2026 /PRNewswire/ — RedotPay, a global stablecoin-based payments fintech company, has expanded its hiring and infrastructure presence in Hong Kong. The company is part of the Office for Attracting Strategic Enterprises (OASES) program and has received OASES support since being included in its strategic enterprise cohort in April 2026.

RedotPay, which serves over nine million users across more than 100 countries, has worked alongside OASES to strengthen Hong Kong’s stablecoin payments industry and entrepreneurial landscape, directing significant investment toward local infrastructure and talent.

RedotPay has added more than 125 employees in Hong Kong since 2025, recently expanding its office in Central and establishing a research and development (R&D) center in Hong Kong-Shenzhen Innovation and Technology Park with the support of OASES.

RedotPay is one of the OASES strategic enterprises exhibiting at Hong Kong FinTech Week, where it is engaging with public and private sector stakeholders and showcasing its future investment plans in Hong Kong.

Established by the Hong Kong SAR Government in 2022, OASES supports the growth of high-potential companies like RedotPay to cement the city’s position as a leader in financial technology and digital assets. To date, OASES has attracted 142 strategic enterprises, which are expected to invest HK$84 billion and create around 27,000 jobs in the coming years.

“Hong Kong has become one of the world’s foremost centers of financial innovation, and we are committed to working with OASES to strengthen its position as a leading hub for the stablecoin payments industry,” said Michael Gao, co-founder and CEO of RedotPay. “Going forward, we plan to invest further in talent and infrastructure here in Hong Kong to better serve our users around the world.”

“We are pleased that RedotPay has joined the OASES cohort, with Hong Kong serving as its headquarters and R&D center. We look forward to continuing our support for RedotPay’s development and to working with partners across the ecosystem,” said Bryan Peng, Executive Director of OASES. “Its investment in local R&D and talent strengthens the digital asset ecosystem here and shows how Hong Kong can serve as a launchpad for companies with global ambitions. We look forward to continuing to support the company’s growth.”

About RedotPay

RedotPay is a global stablecoin-based payment fintech that integrates blockchain solutions with traditional banking and finance infrastructures. Its intuitive platform empowers millions around the world to spend and send digital assets, ensuring faster, more accessible, and inclusive financial services. RedotPay advances financial inclusion for the unbanked and supports crypto enthusiasts, driving global adoption of secure and flexible stablecoin-powered financial solutions to bring crypto to real life. For more information, visit www.redotpay.com.

About OASES

The Office for Attracting Strategic Enterprises (OASES) is a dedicated HKSAR Government agency—operating directly under the Financial Secretary—established to attract high-potential and representative strategic enterprises from around the globe to set up or expand operations in Hong Kong.

View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/redotpay-deepens-hong-kong-investment-as-oases-strategic-enterprise-partner-302926730.html

Continue Reading

Trending