Day: January 5, 2023

Strategic acquisition will add digital, out-of-the box payments capabilities to Duck Creek’s comprehensive suite of SaaS solutions for P&C and general insurers

Boston, MA, Jan. 05, 2023 (GLOBE NEWSWIRE) — Duck Creek Technologies (NASDAQ: DCT) (“Duck Creek”), the intelligent solutions provider defining the future of property and casualty (P&C) insurance, today announced a definitive agreement to acquire Imburse Payments (“Imburse”), a Swiss-based modern payments platform.

Imburse’s cloud-native software-as-a-service (SaaS) payment solution is built for the insurance industry. The modern payments platform brings greater ease and efficiency into end-to-end insurance transactions. Imburse enables insurance carriers to quickly connect to the entire payments ecosystem at a lower cost, seamlessly integrate with existing finance infrastructure and processes, and manage multiple partners for collections and disbursements, all in one place. The platform is consumer friendly and provides policyholders with both an easy-to-use, flexible payments experience and the ability to quickly and securely direct payments.

As part of Duck Creek, Imburse will continue to serve its existing client base and markets, while accelerating expansion plans for new clients across Europe and into North America and Asia-Pacific. The Imburse platform will continue to be available on a stand-alone basis and will also be fully integrated with Duck Creek’s suite of technology solutions, further enabling carriers’ digital transformation goals with modern tools.

“Imburse has developed a great product for the global insurance industry that is not only easy to integrate and implement, but also gives carriers incredible flexibility and payment choices,” said Mike Jackowski, CEO of Duck Creek Technologies. “Imburse has a strong team that embodies Duck Creek’s core values. They have deep expertise across the payments ecosystem and will help to broaden Duck Creek’s insurance industry leadership.”

“Being part of Duck Creek will further accelerate our mission to simplify how businesses around the world access the global payments ecosystem,” said Oliver Werneyer, CEO of Imburse. “We are excited to be part of Duck Creek and to work jointly to deliver modern technology innovations that transform the insurance industry for the future.”

The acquisition remains subject to customary closing conditions and is expected to close during the second fiscal quarter of 2023.

Conference Call Information

Duck Creek Technologies will host a conference call today, January 5, 2023, at 5:00 p.m. (Eastern Time) to discuss Duck Creek’s financial results and business outlook, as well as the proposed acquisition of Imburse Payments. A live webcast of the call will be available on the “Investor Relations” page of the Duck Creek’s website at https://ir.duckcreek.com/. To access the call by phone, please go to this link (registration link), and you will be provided with dial in details. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time. A replay of the webcast will also be available for a limited time at https://ir.duckcreek.com/.

About Imburse Payments

Imburse is a modern payments platform built for insurers. Via a single connection, directly or through a current core system provider, insurance carriers can access the entire global payment ecosystem to collect or pay-out using any technology, any provider, in any market.

About Duck Creek Technologies

Duck Creek Technologies (NASDAQ: DCT) is the intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market-leading solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand. Visit www.duckcreek.com to learn more. Follow Duck Creek on our social channels for the latest information – LinkedIn and Twitter.

Attachment

• Imburse Payments

Drake Manning
Duck Creek Technologies
drake.manning@duckcreek.com

Carley Bunch
Duck Creek Technologies
carley.bunch@duckcreek.com

Michael Sharp
Imburse Payments
michael.sharp@imbursepayments.com

GlobeNewswire Distribution ID 8724246

Paolo Montessori CEO of Prepay Nation

Paolo Montessori CEO of Prepay Nation

BERWYN, Pa., Jan. 04, 2023 (GLOBE NEWSWIRE) — Prepay Nation, a leading global B2B prepaid products marketplace, announces the appointment of Paolo Montessori as the new Chief Executive Officer (CEO). The Board of Directors has chosen Montessori to succeed A.J. Hanna as CEO by January 2023 after a thorough succession planning exercise.

After over 3 1/2 years at Prepay Nation, including the past 2 1/2 years as CEO, A.J. Hanna announced he will be leaving his role as CEO and Chairman of Prepay Nation by December 31st, 2022. A.J. will continue to support the transition as a special advisor to the Board of Directors and newly appointed CEO.

Paolo Montessori joined Prepay Nation in October 2021 as the Chief Revenue Officer. Throughout his more than 25-year career, Montessori has established a solid record of accomplishments leading telecom and financial services firms on a wide range of strategic and business-building possibilities during a time of constant evolution in the financial services and payments world. As CEO, Montessori’s primary goals will be to strengthen Prepay Nation’s financial position and solid foundation of assets, including a worldwide interconnected distribution network and prepaid marketplace, as well as to accelerate the company’s growth plans and expand its payment alternatives.

Prepay Nation Board Chairman and CEO A.J. Hanna said, “We are delighted to welcome Paolo Montessori as the next CEO of Prepay Nation. Paolo is a proven leader known for talent development and leadership of teams while spurring growth and innovation in the fintech and telco industries. With his extensive experience expanding Comviva into new geographic regions, as the CEO of eServGlobal where he formed HomeSend, the cross border joint venture with MasterCard, as Chief Executive of Novatti’s transaction processing business and CEO of innovative AI powered risk analytics fintech LenddoEFL, he is well-positioned to lead Prepay Nation in this new era. Paolo’s focus on accelerating the company’s growth and gaining wider adoption of our ecosystem offerings and prepaid marketplace capabilities with users and businesses will launch Prepay Nation 2.0.”

Anurag Jain, Co-Founder of Prepay Nation added: “On behalf of the Board of Directors, our global employees, clients, and business partners, I want to thank A.J. for his dedication and enthusiasm to Prepay Nation and congratulate him on the many achievements and milestones we celebrated while he has been at the helm of this dynamic company. Under A.J.’s leadership, Prepay Nation expanded its global reach and grew an industry-leading marketplace for prepaid products and turned our capabilities into a competitive advantage.”

Incoming CEO Paolo Montessori said, “Being selected to lead such a well-respected organization as Prepay Nation, a global technology and prepaid global marketplace, serving more than 150+ countries and over 5 billion users is a great honor and a tremendously exciting opportunity.

The passion for innovating with customer needs at heart is what has guided Prepay Nation since its start over a decade ago. I look forward to leading the team at Prepay Nation and working together to chart a future of growth, creating value for our shareholders while supplying essential prepaid services to our global audience.”

A.J. Hanna added, “It has been an honor and privilege to lead Prepay Nation and help serve our worldwide partners and their users. I have many cherished memories of the time I spent working with our colleagues, whose talent, loyalty, and commitment to our clients are unmatched. I am proud of the purpose-driven business we shaped together, and I look forward to seeing the company and team flourish under Paolo’s leadership.”

About Prepay Nation:

Prepay Nation is a leading global B2B prepaid products marketplace that facilitates the purchase of cross-border top ups of mobile airtime, data, gift cards and utility payments across international borders. It boasts an operational presence in 150+ countries, with over 600+ mobile operator’s partnerships across 300,000+ retail locations – backed by a globally distributed team in the U.S., Canada, Asia, Europe, and the Middle East. We enable local and global brands to distribute their prepaid products through our omni-channel worldwide reseller network. Our partners benefit from increased sales, customer acquisition, engagement, retention and loyalty.

For more information, please visit www.prepaynation.com or contact Janis D’souza on hello@prepaynation.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e6e795e8-3952-4fac-be39-a9e19eaaf650

GlobeNewswire Distribution ID 8723970

The Prize’s 45th session recognizes COVID 19 Vaccine Developers, Nanotechnology Scientists, and eminent figures in each of its Arabic Language & Literature, Islamic Studies, and Service to Islam categories

Jeddah, Saudi Arabia, Jan. 04, 2023 (GLOBE NEWSWIRE) — Two women scientists were announced King Faisal Prize for Medicine and Science laureates for 2023: a Covid-19 vaccine developer and a nanotechnology scientist. Six others were announced King Faisal Prize laureates for having enriched humanity with key and invaluable achievements and discoveries in the fields of Medicine, Science, Arabic Language & Literature, Islamic Studies, and Serving Islam.

The woman behind Oxford–AstraZeneca COVID-19 vaccine, Professor Sarah Gilbert, the Saïd Chair of Vaccinology in the Nuffield Department of Medicine at Oxford University, was selected to receive King Faisal Prize in medicine. She has co-created the vaccine which has been in use in more than 180 countries saving billions of lives due to its efficiency, low cost and accessibility.

The vaccine is called “ChAdOx1 nCoV-19” and was achieved in 10 months of work using a novel approach. Instead of the traditional vaccines’ method which uses a weakened or killed form of the original infection and requires a long time to develop in the human body, Gilbert genetically modified a weakened version of a common virus which caused a cold in chimpanzees to be injected in humans without causing an infection. This modified virus became the essence of the vaccine developed by Dr. Gilbert against coronavirus carrying the genetic instructions for the coronavirus spike protein. When entering the body cells, the virus uses a genetic code or instructions to produce the specific surface spike protein of the coronavirus inducing an immune response and preparing the immune system to attack coronavirus if it infects the body.

Dr. Gilbert’s innovative vaccine technologies used lately for COVID-19 were also applied by her to Malaria, Ebola, Influenza, and MERS, with clinical trials of the latter taking place in the UK and in the Kingdom of Saudi Arabia. She also worked on developing a medicine for it. In fact, the patented ChAdOx1 technology was developed by Dr. Gilbert and other researchers at the University of Oxford in 2012. In 2014, she led the first trial of an Ebola vaccine after a large outbreak of the disease in West Africa. It was because of the ChAdOx1 technology and her accumulated research that the Oxford–AstraZeneca COVID-19 vaccine was produced so quickly.

The other woman scientist selected to receive King Faisal Prize in science is Professor Jackie Yi-Ru Ying; the A*STAR Senior Fellow and Director at NanoBio Lab, Agency for Science, Technology, and Research. She was chosen for her work on the synthesis of various advanced nanomaterials and systems, and their applications in catalysis, energy conversion, and biomedicine. Her inventions have been used to solve challenges in different fields of medicine, chemistry, and energy. Her development of stimuli-responsive polymeric nanoparticles led to a technology which can autoregulate the release of insulin, depending on the blood glucose levels in diabetic patients without the need for external blood glucose monitoring. Dr. Ying’s laboratory has pioneered the synthesis of mesoporous and microporous transition metal oxides; a class of nanomaterials used in energy storage and conversion, by supramolecular templating (organizing or assembling entities).

Dr. Ying has more than 180 primary patents and patent applications; 32 of which have been licensed to multinational and start-up companies for a range of applications in nanomedicine, drug delivery, cell and tissue engineering, medical implants, biosensors, medical devices, and others. Her work is at the intersection of nanotechnology and technical medicine and has culminated in the establishment of six successful start-ups and spinoff companies.

Two other Medicine and Science Prize laureates were selected for 2023:  Professor Dan Barouch, the Director of the Center for Virology and Vaccine Research at Beth Israel Deaconess Medical Center and the William Bosworth Castle Professor of Medicine at Harvard Medical School, and Professor Chad Mirkin, the Director of the International Institute for Nanotechnology (IIN) and the Rathmann Professor of Chemistry and Professor of Medicine, Materials Science and Engineering, Biomedical Engineering, and Chemical and Biological Engineering at Northwestern University, respectively.

Professor Dan Barouch developed another COVID-19 viral vector vaccine; the Johnson & Johnson vaccine, using the same technology behind the Oxford–AstraZeneca COVID-19 vaccine. It was administered to hundreds of millions of people worldwide saving their lives. The vaccine was achieved quickly, like Oxford vaccine, in 13 months and was based on engineering a harmless adenovirus (called Ad26) which was a common type of virus that caused mild cold symptoms when it infected a person. The genetically modified virus carries the genetic code for the coronavirus spike protein. After the injection of adenovirus, the cells use the genetic code and produce a spike protein to train the immune system, creating antibodies and memory cells to protect against COVID-19 infection.

The development of the Ad26 vaccine platform was the result of research work and clinical trials to develop vaccine candidates for multiple pathogens of global significance, including HIV and Zika virus, and tuberculosis, making Professor Barouch a pioneer in the creation of a series of vaccine platform technologies that can be used when developing vaccines for emerging infectious diseases, such as COVID-19. Moreover, he led the world’s first demonstration of Zika vaccine protection in preclinical studies and launched a series of phase 1 Zika vaccine clinical trials.

The work of Professor Chad Mirkin, which has been at the forefront of nano chemistry for over three decades, has helped define the modern age of nanotechnology. He is widely recognized for his invention of spherical nucleic acids (SNAs), which are nanostructures composed of nucleic acids in a spherical configuration which enter human cells and tissues and overcome biological barriers, making it possible to detect or treat a disease on the genetic level. More than 1,800 products for medical diagnostics, therapeutics, and life science research were based on this technology.

Professor Mirkin is a pioneer in the field of artificial intelligence-based materials discovery. He invented dip-pen nanolithography, which was described by National Geographic as one of the “top 100 scientific discoveries that changed the world”; and HARP (high-area rapid printing) technology, a 3D printing process that can manufacture different products like ceramics at record-breaking throughput.

In addition to Medicine and Science, King Faisal Prize recognized this year the achievements of outstanding thinkers and scholars in the fields of Arabic Language & Literature and Islamic Studies, and honored exemplary leaders who played a pivotal role in serving Islam, Muslims, and humanity at large.

Professor Abdelfattah Kilito was announced the laureate for the “Arabic Language and Literature” prize focusing on “Classical Arabic Narrative and Modern Theories”. He has been a visiting professor and lecturer at the New Sorbonne, Harvard University, Princeton University, the University of Chicago, the University of Oxford, and the College de France. Professor Robert Hillenbrand, Honorary Professorial Fellow in the department of Islamic and Middle Eastern Studies (IMES) at the University of Edinburgh, was selected to receive the “Islamic Studies” prize in “Islamic Architecture”. His work was distinguished by its geographic and temporal expansiveness, which covered North Africa, Egypt, Palestine, and Central Asia, and spanned from the early Islamic period till the 19th Century.

As for the Service to Islam Prize, Professor Choi Young Kil-Hamed and His Excellency Shaikh Nasser bin Abdullah Al Zaabi were this year’s laureates.

Since 1979, King Faisal Prize in its 5 different categories has awarded 290 laureates who have made distinguished contributions to different sciences and causes. Each prize laureate is endowed with USD 200 thousand; a 24-carat gold medal weighing 200 grams, and a Certificate inscribed with the Laureate’s name and a summary of their work which qualified them for the prize.

Attachments

• Professor Jackie Yi-Ru Ying
• Professor Sarah Gilbert

Maysa Shawwa

GlobeNewswire Distribution ID 8723948