Connect with us

Technology

FOUNDATION SOURCE ACQUIRES VENNFI, THE FINTECH POWERING DONOR-ADVISED FUND CHARITYVEST

Published

on

Acquisition expands Foundation Source’s range of enterprise-grade, tech-enabled offerings with donor-advised fund and workplace giving capabilities 

Reinforces Foundation Source as the leading provider of turnkey philanthropic solutions 

FAIRFIELD, Conn., Oct. 17, 2024 /PRNewswire/ — Foundation Source, the nation’s largest provider of cloud-based solutions for private foundations and planned giving, today announced it acquired Vennfi, the financial technology company powering Charityvest, an industry-leading donor-advised fund (DAF) sponsor. Foundation Source will harness the DAF functionality to deliver modern giving experiences and create new opportunities for innovation and growth in the philanthropic sector.

“With this acquisition, Foundation Source can now offer a DAF platform with an intuitive and frictionless user experience that sets a new industry standard for technology innovation,” said Joseph Mrak III, CEO of Foundation Source. “This strategic acquisition is an important milestone in Foundation Source’s mission to make giving easier and more impactful, and we’re excited to make these philanthropic solutions widely available to help people and companies drive change.”

The deal will broaden Foundation Source’s suite of offerings and accelerate the delivery of giving solutions across the wealth management industry through a turnkey private label platform that will make offering and administering a donor-advised fund easier and more efficient for DAF sponsors, broker-dealers, independent RIAs and other financial services organizations. The acquisition also includes a workplace program that allows employers to streamline corporate and employee giving efforts.

“As financial advisors and wealth management firms look for ways to differentiate themselves beyond traditional investment advisory expertise, a full set of philanthropic capabilities is essential for holistic client engagement,” Mr. Mrak continued.

Through this transaction, Foundation Source reinforces its position as the leader in philanthropic technology, administration, and professional services. Building on its market-leading suite of capabilities, Foundation Source will be the only provider to deliver scalable, end-to-end digital solutions across private foundations, planned giving, and donor-advised funds, making it the optimal choice for professional advisors, and financial institutions serving wealth management and private banking clients.

“Our organizations share a commitment to provide wealth managers and their clients with easier access to collaborative giving tools and resources,” said Vennfi CEO, Stephen Kump. “After a highly collaborative and exploratory process over many months, it became clear that, together, we can catalyze more giving by making it more accessible, secure, and efficient for more people. We are enormously excited to join the Foundation Source team to unlock even more purposeful giving in the years ahead.”

The Charityvest DAF program was launched to the public in December 2019 as a partnership between Vennfi, a financial technology company, and Charityvest, Inc., a 501(c)(3) public charity and donor-advised fund sponsoring organization. Following Foundation Source’s acquisition of Vennfi, Charityvest, Inc. will continue to operate as a separate, independent entity, managed by its own Board of Directors. Foundation Source technology will power the Charityvest DAF program, the turnkey DAF platform, and the workplace giving program.

“We are grateful for the past partnership with Vennfi and look forward to working closely with Foundation Source to harness additional capabilities to help our donors give more, and give more purposefully,” said Paul Glyer, Secretary of Charityvest, Inc.

The management team of Vennfi, led by Mr. Kump, will join Foundation Source, contributing their expertise and insights to sustaining a world-class client experience and the continued expansion of the combined entity.

Earlier this year, Foundation Source announced the acquisition of planned giving software and services leader, PG Calc, as part of its growth strategy to build a single platform for a wide range of flexible, popular, tax-advantaged resources that make giving easier.

The transaction was completed on October 17, 2024. The terms of the transaction were not disclosed.

About Foundation Source (foundationsource.com)
Foundation Source is the leading provider of enterprise-caliber and technology-led charitable giving solutions. At the forefront of philtech, Foundation Source is the partner of choice for turnkey software and services that offer end-to-end support for donor-advised funds, planned giving and private foundations. We offer a range of purpose-built, cloud-based platforms that facilitate all stages of giving and a configurable suite of administrative, compliance, tax, and philanthropic advisory services for donors, nonprofits and charities, and professional advisors, including RIAs and financial institutions serving wealth management and private banking clients.

With 65 years of experience, Foundation Source empowers people and companies to create a better world through philanthropy. We support more than 4,000 charitable organizations, administer more than $25 billion in foundation assets, and facilitate more than 120,000 grants and planned gifts annually.

About Vennfi
Vennfi Inc. is a financial technology company enabling the future of purposeful philanthropy. Its flagship offering is a next-generation, technology-enabled administrative solution for 501(c)(3) donor-advised fund sponsors, first launched in partnership with Charityvest Inc. in 2019. Headquartered in Atlanta, GA, Vennfi is backed by Y Combinator, Sovereign’s Capital, Teamworthy Ventures, and others.

About Charityvest (charityvest.org)
Charityvest, a donor-advised fund (DAF) sponsor, is on a mission to catalyze generosity via modern technology. It endeavors to enable everyone to engage more in philanthropy—to give, to give more, and to give better. In addition to serving individual and corporate donors, Charityvest partners with leading financial advisors and workplaces to launch modern giving programs for their stakeholders. Charityvest is headquartered in Atlanta, GA. For more information, or to start your personal giving account, please visit charityvest.org.

MEDIA CONTACT
Carly Taylor
foundationsource@neibartgroup.com
973-618-6993

View original content to download multimedia:https://www.prnewswire.com/news-releases/foundation-source-acquires-vennfi-the-fintech-powering-donor-advised-fund-charityvest-302279601.html

SOURCE Foundation Source

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Hyundai Motor Group Executive Chair Euisun Chung Announces Physical AI Vision at San Francisco AI Summit

Published

on

By

Hyundai Motor Group shares roadmap for realizing its Physical AI vision and collaboration strategy with global tech leaders at the San Francisco AI Summit
Executive Chair Euisun Chung presented, “Hyundai Motor Group is evolving beyond the traditional boundaries of automotive manufacturing to become a Physical AI solution company,” adding, “The ultimate Physical AI vision we pursue is the realization of integrated intelligence at the city level”
The Group to leverage manufacturing competitiveness and leading robotics capabilities centered on Boston Dynamics, while establishing a data flywheel system connecting real-world operational data with continuous AI model advancement
The Group to leverage strategic partnerships with global technology leaders, including NVIDIA and Waymo, as well as Boston Dynamics’ strategic partnership with Google DeepMind
The Group to collaborate with NVIDIA to develop a Robot Reference Platform that combines Hyundai Motor Group’s and NVIDIA’s Physical AI capabilities

… The initiative to support Korea’s Physical AI industry through an open ecosystem

The Group to cultivate strategic domestic hubs through investments in Saemangeum AI Valley and future advanced industries in Korea’s Yeongnam region

SAN FRANCISCO, July 25, 2026 /PRNewswire/ — Hyundai Motor Group (the Group) Executive Chair Euisun Chung today outlined the Group’s vision and strategy for Physical AI at the San Francisco AI Summit held in San Francisco, California.

The event brought together approximately 150 attendees, including Executive Chair Chung, business leaders from major Korean companies, executives from leading U.S. technology firms, startup representatives and students.

At the summit, Executive Chair Chung presented the Group’s roadmap for advancing Physical AI and outlined strategic collaboration plans with global technology leaders.

“Hyundai Motor Group is evolving beyond the traditional boundaries of automotive manufacturing by expanding into autonomous driving, robotics and AI Defined Factories, accelerating our transformation into a Physical AI solution company.” — Hyundai Motor Group Executive Chair Euisun Chung

Accelerating the Transition to a Physical AI Solution Company

Hyundai Motor Group’s Physical AI vision extends beyond intelligent devices such as vehicles and robots to intelligent spaces, including AI factories where AI seamlessly connects and optimizes entire operations. Ultimately, the Group envisions integrated intelligence at the city level, where urban infrastructure is organically connected and operated through AI.

A key differentiator for the Group is its ability to create a data flywheel that continuously connects real-world operations with AI advancement. Drawing on extensive experience in large-scale manufacturing, mobility, robotics and service operations, the Group is positioned to deploy, refine and scale Physical AI technologies in real industrial environments.

Executive Chair Chung also outlined strategic partnerships with leading technology companies, including NVIDIA and Waymo, as well as Boston Dynamics’ strategic partnership with Google DeepMind, to further advance Physical AI capabilities.

By combining Hyundai Motor Group’s manufacturing competitiveness, mobility and robotics technologies and extensive operational data with the AI infrastructure and algorithm capabilities of global technology leaders, the Group aims to help foster a new innovation ecosystem for the Physical AI era.

Executive Chair Chung also introduced initiatives designed to support the growth of Korea’s robotics and AI ecosystem, including the development of a Robot Reference Platform with NVIDIA that combines Hyundai Motor Group’s and NVIDIA’s Physical AI capabilities, as well as investments in initiatives such as the Saemangeum AI Valley.

Physical AI Vision: From Intelligent Devices to Integrated Intelligence at the City Level

During the summit, Executive Chair Chung presented Hyundai Motor Group’s Physical AI vision.

“The ultimate Physical AI vision Hyundai Motor Group pursues begins with intelligent devices such as vehicles and robots, expands to intelligent spaces such as AI factories, and ultimately realizes integrated intelligence at the city level, where urban infrastructure is seamlessly connected and operated.” — Hyundai Motor Group Executive Chair Chung

The Group’s vision begins with intelligent devices, where AI capabilities enhance vehicles and robots. It then expands to intelligent spaces, including AI factories where AI autonomously integrates logistics, production and quality management across entire operations.

Ultimately, Hyundai Motor Group envisions city-level intelligence, where critical infrastructure and assets — including energy, mobility and robotics systems — are connected and optimized in real time.

Executive Chair Chung also highlighted the Group’s key strengths in realizing its Physical AI vision:

World-class manufacturing competitiveness: Hyundai Motor Group has built extensive expertise through decades of operating global manufacturing facilities, managing quality systems and optimizing supply chains. This foundation enables the Group to apply AI technologies to products, processes and services while rapidly validating and scaling innovations in real-world environments.
Leading robotics capabilities: Hyundai Motor Group has established robotics as a key pillar of its future business portfolio. Boston Dynamics’ quadruped robot Spot®, logistics robot Stretch®, and Hyundai Motor Group Robotics LAB’s next-generation mobile robot platform MobED are recognized for combining technological competitiveness with real-world applicability.

In particular, the humanoid robot Atlas® is emerging as a representative example of Physical AI, supporting and collaborating with people across manufacturing, logistics and mobility environments.

Establishing a data flywheel system: Hyundai Motor Group is establishing a data flywheel system that leverages data generated across manufacturing operations, vehicles, logistics systems and robotics demonstrations to continuously advance AI models. Enhanced algorithms are then reapplied to real-world operations, creating a virtuous cycle that improves performance and strengthens Physical AI capabilities.

Accelerating the Future of Physical AI Through Partnerships with Global Tech Leaders

Executive Chair Chung also outlined concrete initiatives to position Hyundai Motor Group as a leader in human-centered Physical AI through strategic collaborations with NVIDIA and Waymo, as well as Boston Dynamics’ strategic partnership with Google DeepMind.

“By combining Hyundai Motor Group’s strengths in manufacturing, robotics and data with the capabilities of global technology leaders, we can help create a new innovation ecosystem for the Physical AI era.” — Hyundai Motor Group Executive Chair Euisun Chung

NVIDIA – Advancing Physical AI infrastructure and talent development

Hyundai Motor Group is expanding collaboration with NVIDIA to strengthen Physical AI infrastructure and cultivate AI talent. Building on a supply agreement for 50,000 NVIDIA Blackwell GPUs and a memorandum of understanding signed last year to advance Korea’s Physical AI capabilities, the Group is pursuing a range of initiatives, including the establishment of Hyundai Motor Group Robot Application Center, as well as various collaborations aimed at strengthening Korea’s Physical AI infrastructure and AI talent ecosystem, including the NVIDIA’s AI Technology Center.

In manufacturing, the Group is leveraging NVIDIA’s platform to create more sophisticated digital twins of production facilities, enhancing process design, operational optimization and validation efficiency. The collaboration also includes the integration of NVIDIA’s autonomous driving solutions, including automotive semiconductors, sensors and architecture, with Hyundai Motor Group vehicle platforms.

Waymo – Strengthening autonomous driving collaboration

Hyundai Motor Group continues to strengthen its strategic partnership with Waymo in the autonomous driving sector to support the development of a safe and innovative autonomous driving ecosystem. Autonomous driving vehicles require a wide range of specialized capabilities, including redundant systems for steering, braking, power and communications, dedicated features such as power-operated doors, as well as enhanced functional safety and cybersecurity technologies.

Hyundai Motor Group plans to produce IONIQ 5 vehicles with specific autonomous-ready modifications at Hyundai Motor Group Metaplant America (HMGMA) in Georgia.

Google DeepMind – Accelerating next-generation humanoid robotics

Boston Dynamics has established a strategic partnership with Google DeepMind to accelerate the development of next-generation humanoid robots. Advanced AI models and training systems are essential for robots to perform complex tasks in real-world environments and collaborate effectively with people. Through this partnership, Boston Dynamics robots are expected to achieve greater autonomy and adapt more effectively to complex operating environments.

Hyundai Motor Group plans to establish a robot production facility in the U.S. with an annual capacity of up to 30,000 units by 2028. The Atlas humanoid robot will first be deployed at production facilities including HMGMA before broader deployment is expanded through phased validation.

Building an Open Ecosystem Through the Robot Reference Platform and Continued Investment in Korea’s Physical AI Future

Executive Chair Chung also outlined initiatives aimed at supporting the growth of Korea’s Physical AI ecosystem through open collaboration and continued investment.

“The outcomes of collaboration with global technology leaders should contribute to the growth of Korea’s Physical AI industry. To that end, Hyundai Motor Group plans to foster an open ecosystem that supports innovation in robotics and AI technologies.” — Hyundai Motor Group Executive Chair Euisun Chung

Key initiatives to build an open ecosystem for robotics and AI innovation include:

Robot Reference Platform: Hyundai Motor Group and NVIDIA are collaborating to develop a Robot Reference Platform that combines Hyundai Motor Group’s and NVIDIA’s Physical AI capabilities.

The platform will provide research robot models to universities, research institutes and startups, helping foster an open ecosystem that supports technological innovation and the development of Physical AI talent while contributing to the broader growth of Korea’s robotics and AI industries. 

Supporting universities, research institutes and startups: The Robot Reference Platform is expected to provide universities, research institutes and startups with a standardized hardware and software environment, enabling them to more easily develop and validate Physical AI technologies. The initiative aims to help address challenges faced by organizations with innovative ideas but limited access to commercialization opportunities and validation infrastructure.

Hyundai Motor Group is also continuing large-scale investments aimed at driving the next leap forward in Korea’s industrial and technology ecosystem. Continued investments in Korea’s industrial and technology ecosystem include:

Saemangeum AI Valley: In the Saemangeum region of Jeonbuk State, the Group is developing Saemangeum AI Valley, which includes an approximate KRW 9 trillion investment in AI data centers, robotics manufacturing clusters, electrolyzer plants and AI hydrogen city infrastructure. 

In particular, the robotics manufacturing cluster will serve not only as a production base for the Group’s own robotics products, but also as a robotics foundry that provides manufacturing services for small and medium-sized enterprises that lack manufacturing expertise.

Advanced industrial hubs in the Yeongnam region: Hyundai Motor Group plans to invest a total of KRW 42 trillion over the next decade to foster advanced industrial hubs focused on AI-driven manufacturing, future aerospace industries and sustainable energy infrastructure.

Through these initiatives, Hyundai Motor Group aims to strengthen key foundations for the Physical AI era, including data and energy infrastructure, robotics production capabilities and real-world validation capabilities. The Group also expects these investments to contribute to enhanced industrial competitiveness, balanced regional development, job creation and broader economic vitality in Korea.

About Hyundai Motor Group

Hyundai Motor Group is a global enterprise that has created a value chain based on mobility, steel, and construction, as well as logistics, finance, IT, and service. With about 250,000 employees worldwide, the Group’s mobility brands include Hyundai, Kia, and Genesis. Armed with creative thinking, cooperative communication, and the will to take on any challenges, we strive to create a better future for all.

More information about Hyundai Motor Group can be found at: http://www.hyundaimotorgroup.com or Newsroom: Media Hub by Hyundai, Kia Global Newsroom, Genesis Newsroom

View original content to download multimedia:https://www.prnewswire.com/news-releases/hyundai-motor-group-executive-chair-euisun-chung-announces-physical-ai-vision-at-san-francisco-ai-summit-302834557.html

SOURCE Hyundai Motor Company

Continue Reading

Technology

From China Mobile’s Call Upgrade to the Commercial Launch of “Calling + AI” by Leading Operators: AI Is Reshaping the Value of Native Calling

Published

on

By

BEIJING, July 25, 2026 /PRNewswire/ — On June 15, 2026, China Mobile announced a comprehensive upgrade to its traditional calling services, ushering in a next-generation calling experience defined by HD, intelligence, and security. This milestone not only marks a major leap in telecommunication innovation but also reflects a global, inevitable shift: the transformation of basic communication into intelligent, inclusive services.

Breaking Experience Barriers and Redefining the Paradigm of Basic Calling

Overcoming the limitations of traditional, voice-only interactions, China Mobile has leveraged its mature VoLTE/VoNR network foundation to deeply integrate AI models with HD audio and video capabilities. Without requiring users to change their phones or SIM cards, seven core AI functions are now seamlessly embedded into the native dialer interface.

These upgrades include Live Captions bridge communication gaps for the elderly and hearing-impaired; HD video calls and AI noise reduction create a crystal-clear, immersive calling experience; AI anti-fraud intercepts high-risk calls in real time to safeguard users’ assets. Furthermore, the introduction of Data Channel (DC) technology and visual call menus transforms standard calls into agile, interactive service windows, enabling multi-party collaboration and seamless business transactions directly within the call. Through this initiative, China Mobile has successfully evolved traditional calls from a mere voice pipeline into a secure, integrated information hub.

“Calling + AI” Becomes a Strategic Consensus Among Global Leading Operators

From a global perspective, China Mobile’s call upgrade is not an isolated milestone, but a microcosm of the global telecommunications industry’s broader transformation. Throughout 2026, major operators worldwide are accelerating the commercial deployment of “Calling + AI” solutions:

Deutsche Telekom launched Magenta AI, leveraging artificial intelligence to enhance calling across all scenarios;T-Mobile US introduced a network-side, real-time translation service covering over 80 languages, effectively breaking down cross-border communication barriers;Saudi stc rolled out English-Arabic bilingual simultaneous interpretation, which has now entered large-scale commercial trials;South Korea’s LG U+ launched its ixi-O intelligent calling assistant, shifting the user experience from passive responses to proactive smart interactions and earning three prestigious GLOMO industry awards.

The synchronized efforts of these global leaders confirm that basic calling services have officially entered a new era of AI integration. Deeply empowered by artificial intelligence, “Calling + AI” has become the definitive blueprint for the intelligent transformation of the global telecommunications industry. As operators continue to refine these native capabilities, the traditional voice network is poised to reclaim its position as the most secure, ubiquitous, and valuable entry point in the AI era.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/from-china-mobiles-call-upgrade-to-the-commercial-launch-of-calling–ai-by-leading-operators-ai-is-reshaping-the-value-of-native-calling-302834622.html

SOURCE China Mobile

Continue Reading

Technology

Trip.com Group Sincerely Accepts Administrative Penalty Decision Issued by the State Administration for Market Regulation of the People’s Republic of China

Published

on

By

SINGAPORE, July 25, 2026 /PRNewswire/ — Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961) today announced that it has received the administrative penalty decision issued by the State Administration for Market Regulation of the People’s Republic of China.

Trip.com Group sincerely accepts the decision and will adopt rectification measures in accordance with applicable laws and regulations to implement the decision’s requirements. The Company will strengthen its long-term governance mechanisms and strive to contribute to the sustainable development of the travel industry.

Trip.com Group’s management team will host a conference call at 8:00 AM U.S. Eastern Time on July 27, 2026 (or 8:00 PM Hong Kong Time on July 27, 2026).

The conference call will be available on Webcast live at: http://investors.trip.com.

All participants must pre-register to join this conference call using the participant registration link below:
https://register-conf.media-server.com/register/BIb78e08d8f18340c4882a7e4ab961906b.

Upon registration, each participant will receive details for this conference call, including dial-in numbers and a unique access PIN. To join the conference, please dial the number provided, enter your PIN, and you will join the conference instantly.

For further information, please contact:
Investor Relations
Trip.com Group Limited
Email: iremail@trip.com

View original content:https://www.prnewswire.com/news-releases/tripcom-group-sincerely-accepts-administrative-penalty-decision-issued-by-the-state-administration-for-market-regulation-of-the-peoples-republic-of-china-302834599.html

SOURCE Trip.com Group Limited

Continue Reading

Trending