Credit exchange

Plastic Credit Exchange revamps the system and uses blockchain technology

Plastic Credit Exchange (PCX), a Filipino nonprofit plastic clearing program, has partnered with Microsoft to develop a blockchain-protected public credit ledger.

“It is important that the credit registry is trustworthy and publicly accessible,” PCX Founder and President Nanette Medved-Po said in a statement. “By using blockchain technology not only to protect the ledger, but also to provide transparency around additionality and protect against double counting, stakeholders will know where and how they are positively impacting the environment. “

Similar to carbon markets that use carbon credits to limit the production of greenhouse gases by companies, PCX uses plastic credits to limit the number of plastics that companies produce.

The Philippine companies that have purchased plastic offsets are Nestlé Philippines and Unilever Philippines. Meanwhile, companies like PepsiCo Snacks, Wyeth Nutrition, Century Pacific Food, Colgate-Palmolive, and NutriAsia have sued plastic neutrality in the country.

According to PCX, these partnerships have diverted more than 18 million kilograms of plastic waste from the ocean.

“Sustainability and humanity’s response to this problem is one of the greatest challenges of our lives – a planet-sized challenge that requires a planet-sized response,” said Andres Ortola, country manager for Microsoft Philippines, in a statement. “Technology can – and should – accelerate this response. “

Microsoft provided an Azure-based blockchain solution to strengthen the security of the credit ledger, using a web application to integrate the blockchain into PCX’s current operations.

PCX’s blockchain-protected credit ledger can be found, where it shows how much plastic credit each company has purchased. BH Lacsamana

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Credit exchange

Envestnet Credit Exchange offers secured and unsecured loan options

Envestnet Credit Exchange recently launched access to a wide range of real estate and unsecured loan products from a growing list of lending partners who have been selected for their wide range of products and services. The Investnet Credit Exchange product suite now extends beyond secured loans with Upgrade and Lightstream to unsecured loans. Ally Home, Better, and Guaranteed Rate will now help wealth managers meet the real estate financing needs of their clients.

Powered by Advisor Credit Exchange (ACx), the Investnet Credit Exchange will provide financial advisors with access to secured and unsecured lending options through the Envestnet ecosystem. These loans are in a wide range, from $ 10,000 to $ 25 million and more.

Customers are analyzed for their financial data and matched with the right loan opportunities. The options are gathered from a list of lending partners, prioritized according to their product offerings, quality of service and funding experience.

“To be competitive and successful in the wealth management business, advisors need to consider both sides of their clients’ balance sheets,” said Andrew Stavaridis, Group Solutions Delivery Manager at Envestnet. “Helping clients build equity means managing credit as strategically as investing. This product extension provides advisors with solutions to their clients’ financing needs.

Advisors can help clients obtain residential real estate loans for purchase or refinance. The Federal Reserve Board of New York reports that mortgages account for 70% of consumers’ credit balances. Ally Home, Better and Guaranteed Rate were the first residential mortgage lenders to join the exchange.

Envestnet has also partnered with Access Financing, the Sweetpay brand, to provide unsecured loans and expand consumer options. Unsecured loan partners on the Credit Exchange include Upgrade and Lightstream.

Peter Stanton, CEO of Advisor Credit Exchange, said: “Envestnet Credit Exchange is now positioned to enable advisors to serve the three main personal lending services: asset backed, unsecured and real estate. The relationships we foster can provide advisors with the power and confidence to advise their clients on all aspects of credit and help them access the ideal credit solutions to meet their needs. “

For more information on Envestnet, please visit

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Credit report

Can You Pay To Remove A Bad Credit Report?

A bad credit score can work against you in a number of ways. When your credit is low, it can be difficult to get approval for new loans or new lines of credit. If you qualify, you may have to pay a higher interest rate to borrow. A low credit score can also result in the payment of higher security deposits for utilities or mobile phone services.

In these scenarios, you may want to consider a tactic known as a pay to delete, in which you pay to have negative information removed from your credit report. While this may sound tempting, it is not necessarily a quick fix for better credit.

Key points to remember

  • Pay for delete is an agreement with a creditor to pay all or part of an unpaid balance in exchange for that creditor removing derogatory information from your credit report.
  • Credit reporting laws require that accurate information remain about your credit history for up to seven years.
  • Credit repair involves paying a business to contact the credit bureau and report anything on your report that is incorrect or false, then requesting it be removed.
  • You can do your own credit repair at no cost, but it can be labor intensive and time consuming.

Pay to delete defined

First of all, it helps to understand what it means to pay to have bad credit information removed. According to Paul T. Joseph, lawyer, CPA and founder of Joseph & Joseph Tax and Payroll in Williamston, Michigan, “Pay to delete is basically when you are contacted by your creditor, or you contact them, and you agree. to pay some or all of the outstanding balance with an agreement that the creditor will contact the credit bureau and remove any derogatory comments or indication of late payment on the account.

How to request payment for deletion

To request payment for the deletion, you will need to send a written letter to the creditor or the collection agency. A letter of payment for deletion must include:

  • Your name and address
  • Name and address of creditor or collection agency
  • The name and account number you are referring to
  • A written statement stating how much you agree to pay and what you expect in return from the creditor removing negative information

You’re essentially asking the creditor to remove any negative remarks they might have added to your credit report related to late or missed payments or a collection account. By paying some or all of the outstanding balance, you hope that the creditor will show goodwill and remove the negative information from your credit report for that account.


Generally, exact information cannot be removed from a credit report.

Is Paying To Remove Legal?

The Fair Credit Reporting Act (FCRA) governs credit laws and guidelines. Anything a debt collector, creditor, or credit bureau does regarding a credit report will be FCRA-based, says Joseph P. McClelland, consumer credit attorney in Decatur, Ga.

Credit bureaus are required to produce accurate credit reports, and consumers have the right to sue creditors and credit bureaus in certain cases. Specifically, this includes inaccurate information that continues to be reported after a consumer initiates a dispute that the creditor or the credit bureau failed to investigate.

Technically, payment for deletion is not expressly prohibited by the FCRA, but it should not be viewed as a blanket card without credit. “The only items you can remove from your credit report are the ones that are inaccurate and incomplete,” says McClelland. “Everything else will be at the discretion of the creditor or the collector. ”


If you spot an error or inaccuracy in the credit reports, then you will need to file a dispute with the creditor or the reporting credit bureau to have the information corrected or deleted.

Remove collection accounts from a credit report

The success of your removal payment attempts may depend on whether you are dealing with the original creditor or with a debt collection agency. “As for the debt collector, you can ask him to pay for the deletion,” says McClelland. “It’s completely legal under FCRA. If you go that route, you’ll have to get it in writing, so you can apply it after the fact.

What to keep in mind, however, is that paying to delete with a debt collector may not remove negative information about your credit history that was reported by the original creditor. The creditor may claim that his contract with the collection agency prevents him from changing any information that he has reported to the credit bureaus on the account. That said, some collection agencies are taking the initiative and requesting that negative account information be removed for customers who have successfully settled their collection accounts in full.

Before taking this step, think about the impact that collection accounts can have on your credit score. The FICO 9 credit scoring model, for example, does not take into account paid collection accounts in credit score calculations. So if you have paid or are planning to pay a collection account, you may not need to pay to delete if your only goal is to improve your credit score.


If you wait for a debt to be time-barred. that is, after the limitation period in which collection actions can be applied, it is important to avoid restarting the clock, which can happen if you make a promise to pay.

Remove Bad Credit History With Credit Repair

Hiring a credit repair company is another option to pay for removing bad credit information. “Credit bureaus basically do the job for you by contacting the credit bureaus and objecting to errors in the report or requesting that false or incorrect items be removed from the report,” McClelland explains. In this case, you do not necessarily pay off the outstanding balances. However, you will have to pay a fee to the credit repair company to act on your behalf and remove the negative information.

$ 30 to $ 100

Typical monthly fees for a credit repair business

The fees charged by a credit repair company can vary. Typically, there are two types of charges: an initial setup charge and a monthly service charge. Upfront fees can range from $ 10 to $ 100, while monthly fees typically range from $ 30 to $ 100 per month, although some companies charge more.

When considering fees, it’s important to weigh what you’re getting in return. According to the Federal Trade Commission, there is nothing legally credit repair companies can do for you that you can’t do on your own. You just need to be prepared to spend time reviewing your credit reports for negative or inaccurate information, contacting credit bureaus to dispute that information, and following up on those disputes to make sure they do. under investigation.

If you decide that the time saving aspect of working with a credit repair company is worth your money, then do a thorough research on any companies you are considering to make sure that you will be working with one of the best repair companies. credit available. Joseph says that most credit repair agencies are legitimate, but if you come across one that makes promises that sound too good to be true or uses methods to repair credit that are not covered by FCRA, that is is a red flag that the company could be a con.

Also consider the timing before pursuing credit repair services. “After several years of being on your report, the negative impact on your credit score has probably passed,” says McClelland. This is because negative information can eventually automatically fall on your credit report.


Late payments and collection accounts can stay in your credit history for up to seven years. A Chapter 7 bankruptcy filing can stay on your credit report for up to 10 years.

Fix bad credit yourself

If you’d rather not pay to remove or pay for a credit repair business, there are a few steps you can take to start getting your credit back on track:

  • Review your credit reports for negative information that is inaccurate. File a dispute for inaccuracies or errors online with the credit bureau reporting the information.
  • Consider asking someone you know with a strong credit history to add you to one of their credit cards as an authorized user. This can transplant that person’s positive account history into your credit report.
  • Look for credit loans and secured credit cards as additional credit building options.
  • Make a habit of paying your bills on time every month. Payment history has the biggest impact on credit scores.
  • Weigh the pros and cons of debt settlement to resolve collection accounts or write-offs. Debt settlement allows you to pay off debts for less than what is owed.
  • Focus on paying off the balances of any credit card or loan accounts you have opened to improve your credit utilization rate.


You can get a free copy of your credit report from each of the three major credit bureaus each year through

The bottom line

Bad credit doesn’t have to be a permanent situation. There are things you can do, including pay to delete, to help get your credit back. Paying to get bad credit removed can be effective, but it’s worth exploring other options if you don’t have the money to pay off an outstanding balance or cover expensive costs that a credit repair company does. can charge.

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Credit report

Understanding your credit report and credit score

Image source: Getty Images

Understanding your credit report and your credit score can be essential if you want to keep your personal finances healthy. This means you can apply for credit with confidence, or even know if you’ve been the victim of fraud.

What’s on your credit report?

Your credit report is basically your financial resume. It is a record of your financial life, including the accounts you hold, the money you have borrowed, and information about your identity. It is there so that lenders can confirm that you are who you say you are and that you are a reliable borrower.

So what exactly is on your credit report? Let’s break it down:

  • A list of your credit accounts – bank and credit cards, utility company loans and debts
  • Details of any person financially related to you, therefore any person with whom you have taken out a joint loan
  • Information such as CCJs, repossessions, bankruptcies and IVAs
  • Your current account provider and your overdraft details
  • Whether or not you are on the voters list
  • Your name and date of birth
  • Current and previous addresses
  • Whether or not you have committed fraud, or if someone has stolen your identity and committed fraud

You will find all this detailed information in your report. It is therefore worth checking that all the information in the file is correct.

All details on fraudulent actions will be kept in the Cifas section. Cifas is a national fraud prevention program and it can place markers on your credit report to highlight if you’ve been the victim of identity theft.

How to check your credit report?

There are three Credit Reference Agencies (CRAs) in the UK: Equifax, Experian and TransUnion.

You might be wondering why there is more than one ARC. Well, not all lenders share their data with all three rating agencies. It is therefore worth checking your credit report with each one as they may differ depending on the lender who shared what information.

It is possible to check your score for free, as all credit rating agencies are required to provide you with a copy of your credit report without charging you. Alternatively, each of the agencies offers some sort of full credit monitoring service that you will usually pay for after the initial trial period.

Is a credit report different from a credit score?

In short, yes. Your credit report is different from your credit score. In fact, you don’t have a universal credit score.

If this just blew you away, let me explain. A credit score is an assessment by a particular lender of whether or not you are at risk in lending. It is based entirely on their own evaluation criteria.

You may find that the credit rating agencies provide you with a “credit score”. But in reality, this is only an indication of what your credit score might be with a lender based on the information they have.

If you have a “good” credit rating, there is no guarantee that your application will be accepted and that you will be offered the full rate. It just depends on the lender and whether or not they are happy to lend to you. That being said, the better your credit rating, the greater the chance that you will be able to borrow money.

How do I understand my credit score?

As we have seen, there is no such thing as a universal credit score. So figuring out this can be quite tricky. The scores you get from each of the credit reference agencies will all be different.

So here’s a look at how each ARC presents scores:

  • Experiential – Scores are divided into five categories: very bad (0-560), bad (561-720), fair (721-880), good (881-960) and excellent (961-999).
  • Equifax – The scores are over 900. Good is 400-474 and excellent between 475 and 900.
  • TransUnion – TransUnion has a slightly different system. The scores are over 1000 but are accompanied by your credit rating. So your “overall creditworthiness” will also be noted as a number from one to five.

If you are unhappy with your credit score, there are ways to improve it. Check out our article on how to improve your credit score.

Could you be rewarded for your daily expenses?

Rewards credit cards include programs that simply reward you for using your credit card. When you spend money on a reward card, you can earn loyalty points, store vouchers, airline miles, and more. MyWalletHero makes it easy for you to find a card that matches your spending habits so you can get the most out of your rewards.

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Credit report

How to correct an error on your credit report

Eeven small mistakes on your credit report can cause big problems. A typo in your home address could make it difficult for you to get a copy of your credit report, for example. A bigger mistake, such as a creditor misreporting your financial information, could cause more serious problems.

This is why it is essential to check your credit report at least two or three times a year. When you do, check it out for errors, either in your personal information or in information reported by your creditors. If you find any errors, follow these steps to correct them:

First, find the errors

Due to the Fair Credit Reporting Act, you are entitled to a free copy of your credit report every 12 months.

You can get a free copy from each of the major reporting companies. So you could get your Equifax report in January, your Experian report in May, and your Transunion report in September. Repeat the following year and you will stay on top of your credit report.

You can get your free report online at, by phone at 1-877-322-8228, or with the annual credit report request form.

The three ratios may be somewhat different. Although all of your major financial information is the same, sometimes there are discrepancies between your credit reports.

If you find a major error on your Equifax report, for example, you might want to extract your other two reports to see if they contain the same error. Even if you don’t have a free report available from the other two companies, it’s not too expensive to buy a copy.

The basics of correcting errors

When you correct a mistake on your credit report, document everything. While a minor mistake is unlikely to send you to court against a creditor or a credit bureau, strange things have happened.

You can better protect yourself by keeping everything in writing. Sending letters about the error – and keeping copies – is a good place to start. If you end up making phone calls, take lots of notes with each call. Be sure to mark dates, times, and other relevant details on conversations.

Also, stay calm. Dealing with the red tape and impersonal service often offered by large financial entities is frustrating. But you will solve this problem, and you will solve it faster if you are as pragmatic as possible.

Errors in your personal information

Errors in personal information on a credit report are quite common. But that doesn’t mean you should ignore them. Here’s how to do it:

  1. Pull up on all three credit reports to see if they have the same error. If so, contact them all. (They don’t communicate with each other, so correcting an address error with Equifax does not mean the same error will be corrected with TransUnion.)
  2. Check with your creditors first to make sure they have your correct name, address, and other personal information. Sometimes the error lies in the information that creditors send to rating agencies. In addition, it is always a good idea to make sure that current creditors have this correct information.
  3. Send a letter or complete the online dispute form for the agency with the incorrect information. If you are sending a letter, add supporting evidence: copies of invoices or other official letters should do the trick.

Whenever you correct personal information, give them a month or two to withhold it. Although credit bureaus are required to review inaccuracy claims in a timely manner, it may take some time for the claim to be processed and the information to be changed.

Correction of other errors

There are several types of common credit report errors, including:

  • Information from another person with a name or address similar to yours
  • Information left behind by a battle against identity theft
  • Information from a former spouse
  • Incorrect payment status on an account
  • Multiple late dates for an account, which can happen if an account is transferred to a debt collector
  • Bad ratings for closed accounts (it may seem like the creditor cut you off, when you really chose to close the account)
  • Corrected unreported offenses

Some of these problems are minor and easy to resolve. Under the right circumstances, however, any of these common problems could be enough to ruin your credit score. So here’s what to do if you find incorrect information from your creditors on your report:

  1. Gather documents that support your position. For example, if you’ve paid an overdue account, look for a payment receipt that includes the date. Circle the relevant information on your documents so that they are easy to find. Always send copies, not originals.
  2. Attach supporting documents to a dated professional letter at the credit bureau. The letter might look like this one from the FTC.
  3. Keep copies the letter and supporting documents, and write down the date you mailed them.
  4. Inform your creditor, either online, by phone or by mail. Which option you choose will depend on the type of creditor. You can search online or call your creditor to find a number or address specific to credit disputes.
  5. Wait. The FTC typically requires credit reporting companies to investigate the issue within 30 days, unless they find your dispute frivolous. Once the investigation is complete, they will give you the results of the investigation and a free copy of your credit report if the dispute changes it.
  6. Send copies of your updated report, if necessary. If the error on your credit report has prevented you from getting a lease, loan, or job recently, ask the credit reporting company to send a free copy of your report to anyone who has it. obtained in the last six months. You can request that copies of your report be sent to anyone who has retrieved it for employment in the past two years.

Alternatively, you can use the credit bureau’s online dispute system. Find online dispute forms for Equifax, Experian, and TransUnion at the links.

Sometimes you will need to take extra steps to correct an error in your report, especially if a creditor insists the information is correct. While the need for additional action is unusual, it does happen. If you go through this process multiple times without success, it may be time to consider hiring a lawyer to help you with the more complex process of suing a creditor or a credit bureau for reporting information. inaccurate.

Your credit report rights

During this process, it is ideal to understand and exercise your rights as a consumer when dealing with the credit bureau. Under the Fair Credit Reporting Act:

  • You have the right to be informed if the information in your file has been used against you. If you are denied a job, insurance, loan, or anything else because of your credit report, you need to be notified. You can also get a free copy of your report in these situations.
  • You have the right to know what is in your file. You can get a free report once a year, or when someone has taken adverse action against you because of your report, when you are a victim of identity theft, when you are on public assistance, or when you are unemployed but hoping to apply for a job within two months.
  • You have the right to claim your digital credit score even though you will have to pay for it.
  • You have the right to challenge incomplete or inaccurate information in the ways listed above.
  • If you prove that any information is inaccurate, incomplete, or unverifiable, credit bureaus should correct or remove it from your file.
  • Consumer news agencies cannot report negative information that is out of date. Most negative information is out of date after seven years, and bankruptcies are out of date after 10 years.
  • Your credit report can only be given to people who need to see it, and you must give employers or potential employers written consent to withdraw your report.
  • You can unsubscribe from pre-selected credit and insurance offers by calling a toll-free number provided with those offers.
  • You can claim damages from people or companies who violate these rights.
  • If you are an active military or a victim of identity theft, you may have more rights than these.

That’s a lot of information, but it can help you correct errors on your credit report. If it’s been a while since you last checked your report, don’t delay. The sooner you find and correct mistakes, the better your credit will be.

Related: If you are looking for an easy way to increase your score, sign up on Experian Boost ™. This service is free and can see when you make your monthly payments like your utility bill and your cell phone bill on time. When you do, your FICO® score may be increased.

Experian Boost Disclaimer – Results may vary. Some may not see improvement in scores or chances of approval. Not all lenders use Experian credit files, and not all lenders use Experian Boost impacted scores.

Learn more: Read our Experian Boost review

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Credit exchange

Velo Protocol powering the world’s first federated credit exchange network

Imagine a network where partners – from traditional finance, CeFi and DeFi sectors – are all created equal. This network has no central nodes and all data is sent from node to node via the shortest and most efficient route available. In this network, all participants agree on a set of fundamental ideas – be it policies, algorithms, a hierarchy of governance or otherwise – for the benefit of the network as a whole. Beyond these fundamental concepts, network participants retain their autonomy.

This is the vision that Velo Labs pursues with its Federated Credit Exchange network. This network, powered by the Velo protocol, allows network participants to freely issue digital credits indexed to any stable currency by staking VELO tokens. Network participants can then use these digital credits in their day-to-day business operations.

To participate in the Velo Labs federated credit trading network, there are several conditions that all network participants must comply with. These include:

  • VELO tokens serve as a universal network guarantee;
  • VELO token transactions are confirmed using a federated Byzantine agreement – the Stellar Consensus Protocol;
  • The main function of the network is based on the Velo protocol.

Behaviors outside these stipulations are left to the network participants.

The Velo protocol

The Velo protocol is a financial protocol that issues digital credits attached to any fiat currency. It ensures that these digital credits are always properly secured to maintain a 1: 1 digital credit to fiat value ratio. The Velo protocol has two main components. A digital credit issuance mechanism and a digital reserve system.

The digital credit issuance mechanism is the part of the Velo protocol that issues digital credits pegged to any fiat currency. The digital reserve system automatically rebalances these collateral pools to maintain a 1: 1 value ratio between digital credits and their associated fiat currency. In other words, as the price of guaranteed tokens increases in the open market, the digital reserve system automatically removes said tokens from individual collateral pools and adds them to the system reserve pool. Likewise, when the price of guaranteed tokens drops in the open market, said tokens will automatically be removed from the reserve pool of the system and added to each individual guarantee pool.

Issuing digital credits and balancing collateral pools in this way requires full Turing smart contracts, which the Stellar network does not support. As VELO is based on Stellar, a bit of cross-chain magic is needed. Enter the Hermes Warp protocol.

The Hermes Warp protocol

The Hermes Warp Protocol is an inter-chain protocol that links Stellar and other chains such as Evrynet.

When smart contract functions are required, the relevant Stellar-based tokens are locked into a multi-signature custodian address and the Evrynet-based tokens – corresponding to each individual Stellar-based token – are released. When a network participant needs to convert their digital credits back to Stellar-based tokens, the Evrynet-based tokens are withdrawn from circulation. The original Stellar-based tokens are then unlocked from their custody accounts. On a related note, Velo Labs recently announced a partnership with Matrixport Cactus to provide cutting edge childcare services.

The Hermes Warp protocol also allows converting Ethereum based tokens to and from Evrynet and Stellar based tokens. This paves the way for all Ethereum-based projects to connect to the Velo Labs federated credit trading network.

Velo Labs Federated Credit Exchange Network

Supported by the Stellar network and the CP Group – one of the largest conglomerates in the world – Velo Labs currently serves business partners in South East Asia. By connecting the legacy financial sectors, CeFi and DeFi, Velo Labs’ federated credit trading network positions Velo Labs as one of the few blockchain projects with a clear path to mass adoption.

Learn more about Vélo.

© 2021 The Block Crypto, Inc. All rights reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial or other advice.

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Credit exchange

Nexus to Launch tokenized Puerto Rican Tax Credit Exchange “PRTX” Through Strategic Collaboration with DANKO Holdings

Puerto Rico Tax Credit Exchange

SAN JUAN, PUERTO RICO, September 30, 2020 / – Nexus Decentralized Capital Markets is pleased to announce a financial and strategic partnership with DANKO Holdings LLC to launch the Puerto Rico Tax Credit Exchange “PRTX”, a The private peer market on the Nexus platform will be launched on by mid-November.
Once activated, PRTX will provide a venue to assess and process tax credits on an “as issued” basis and provide efficiency and transparency as a clearinghouse for investors and taxpayers, with all transactions recorded. on a blockchain ledger.
Stephen Inglis, CEO of Nexus, commented, “We expect the creation of the Tax Credit Exchange will play an important role in the relocation process to help businesses move their operations to Puerto Rico, navigate and monetize them. generous tax incentives. Puerto Rico’s Law 60 tax credit program covers all aspects of investing, including pharmaceutical manufacturing, alternative energy, hotels, construction, film financing, and R&D. PRTX will build a community with law and accounting firms, as well as companies bringing investments to the island. ”
David Kovner, partner of DANKO and new CFO of Nexus, said: “We recognize that the creation of PRTX on Nexus will bring profound benefits to Puerto Rico’s economy and that peer-to-peer tokenization technology can then be applied as a wider application for investments in alternative assets ”
Daniel York, Managing Partner of DANKO added, “The PRTX product represents DANKO’s inaugural investment in Puerto Rico as our pipeline of exciting projects and new partners on the island grows.
Inportal Kanga Nexus LLC, headquartered in Old San Juan, has offices in New York and Gdansk, Poland. It was formed by a merger of AI Capital LLC, aka Inportal,, providing compliance, agreement creation and INPR token issuance protocol capabilities, with Adwell Media Inc., owner from Kanga Exchange, https: // kanga. exchange, an active cryptocurrency exchange with trading algorithms and distributed ledger capabilities. Nexus is unique in that transactions are carried out on a peer-to-peer, investor-to-issuer basis.
About DANKO Holdings, LLC
DANKO Holdings, LLC is a boutique investment, management and origination company with offices in New York City, as well as Ocala and Palm Beach, Florida. Holdings are primarily focused on breakthrough technologies and products sourced from an exclusive network of relationships and industry experts. They currently have stakes in agriculture, healthcare, advanced coatings, green energy, blockchain, and consumer goods. They provide early support for people, ideas and technology that can have a significant impact globally on pressing environmental, health and social challenges. They believe in bringing profit and goal closer together for the mutual benefit of all stakeholders.

Daniel York
Danko Holdings LLC
write us here
+1 561-818-4206
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Credit exchange

Bancorp Bank Joins Envestnet Credit Exchange, Providing Access to Automated Securities-Backed Loan Issuance

CHICAGO, 25 Aug 2020 / PRNewswire / – Envestnet, Inc. (NYSE: ENV) announces that The Bancorp Bank, a wholly owned subsidiary of The Bancorp, Inc. (NASDAQ: TBBK), has joined the list of lenders on the Investnet Credit Exchange, providing financial advisers with transparent access to lines of credit backed by securities.

“We continue to add selected and highly qualified lenders to Envestnet Credit Exchange to enrich the suite of credit solutions that allow advisors to help clients manage both sides of the balance sheet,” said Jean Yackel, head of strategic initiatives at Envestnet. “Bancorp’s asset-backed lending product gives advisors and their clients broader options to make financial well-being a reality for more clients.”

Registered Investment Advisers (RIAs) and businesses have access to The Bancorp’s equity-backed lending product through Envestnet Credit Exchange, including pre-qualified lending opportunities to present to their clients. Bancorp simplifies and then speeds up loan approval thanks to its Talea platform, which automates the approval process, streamlines application documents and saves time on approval and funding. For more information, visit

“Talea enables the speed and simplicity of lending for our Asset Backed Line of Credit (SBLOC) product, giving advisors and businesses the confidence to share trusted client relationships with The Bancorp. “, said Jean Leto, Executive Vice President and Head of Institutional Banking Services at The Bancorp. “We are delighted to be working with Envestnet and Envestnet Credit Exchange to bring the benefits of Talea to more advisors and investors across the country.”

The Investnet Credit Exchange, powered by the Advisor Credit Exchange (ACx) and launched last year, is available through the sponsor and advisor portals of the Envestnet platform. The Credit Exchange generates a data-based selection of prequalified loan opportunities for clients, along with full price and term details for each potential loan.

The Investnet Advisor Summit On-Demand ( features video content demonstrating and discussing in more detail the Envestnet Credit Exchange.

“Advisors can confidently communicate with clients on relevant loan opportunities and demonstrate greater value to clients, when leveraging actionable insights from the Envestnet credit exchange,” said Pierre Stanton, CEO of Advisor Credit Exchange. “Expanding our line of respected lenders enables advisors to help manage credit for clients as part of a unified advisory offering, while mitigating risk and increasing transparency.”

About Investnet

Envestnet, Inc. (NYSE: ENV) is transforming the way financial and wellness advice is delivered. Our mission is to empower financial advisers and service providers with innovative technologies, solutions and information to make financial wellness a reality for all. More than 103,000 advisors in more than 4,900 companies, including 16 of the 20 largest American banks, 46 of the 50 largest wealth management and brokerage firms, more than 500 of the largest RIAs and hundreds of FinTech companies, leverage the Envestnet platform to develop their business and customer relationships.

For more information on Envestnet, please visit, subscribe to our blog and follow us on Twitter (@ENVintel) and LinkedIn.

Envestnet, Inc. has a financial interest and serves on the board of directors in Advisor Credit Exchange (“ACE”). ACE provides access to lending solutions for advisors and their clients through the Envestnet platform through EAM’s subsidiary, Envestnet Financial Technologies.

This press release should not be construed as a recommendation or endorsement of any particular product, service or company. No loan decisions are made by Envestnet and all loan financing and administration is carried out by separate, unaffiliated financial institutions.

About Advisor Credit Exchange, LLC

The Advisor Credit Exchange (ACx) is a technology-enabled network that brings together lenders and wealth managers, enabling investment firms and advisors to deliver financing solutions to build their clients’ net worth and achieve their financial goals. By integrating liability management with asset management and protection solutions, ACx has created new opportunities for advisors to help clients achieve financial well-being.

For more information on Advisor Credit Exchange, please visit

About Bancorp

The Bancorp, Inc. (NASDAQ: TBBK) is dedicated to serving the unique needs of non-bank financial services companies, ranging from entrepreneurial start-ups to Fortune 500. The company’s subsidiary, The Bancorp Bank (FDIC member, Equal Housing Lender), has been repeatedly recognized in the payments industry as the leading prepaid card issuer (US), a leading sponsor bank and a major initiator of ACH. Specialized lending accolades include SBA National Preferred Lender, one of the leading providers of asset-backed lines of credit and one of the few bank-owned commercial vehicle leasing groups in the country. For more information, please visit

Media relations

Dana taormina
JConnelly for Envestnet
[email protected]

Rachel weiss, vice-president responsible for communications
La Bancorp, Inc.
[email protected]

Investor Relations

Andrés Viroslav, director of investor relations
La Bancorp, Inc.
[email protected]

SOURCE Envestnet, Inc.

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Credit exchange

Envestnet Credit Exchange Adds TD Bank; LightStream, a division of SunTrust; At national scale ; and First Citizens Bank

CHICAGO, Jan.6, 2020 / PRNewswire / – Envestnet today announced that it will provide financial advisors with access to a selection of lenders on its recently launched Envestnet Credit Exchange platform. Together, TD Bank; LightStream, a division of SunTrust; Nationwide (in partnership with Supernova Lending, LLC); and First Citizens Bank will offer advisors on the Envestnet platform a wide range of loans with secured and unsecured financing options, valued at $ 10,000 To $ 25 million or more. Each lender was selected on the basis of its product offering, quality of service and financing expertise.

“We are proud to present financing solutions from a respected group of lenders through Investnet Credit Exchange,” said Bill crager, Interim CEO of Investnet. “We believe that advisors who offer unified advice, a component of which includes credit management, can help their clients achieve financial well-being. We are committed to offering more choice to the companies we work with, as well as their advisors.

The Investnet Credit Exchange, powered by Advisor Credit Exchange (ACE), will be available through sponsor and advisor portals on the Envestnet platform, and actively support loan referrals and consulting firm integration. Additional lenders and wider market expansion are planned for 2020.

“The unique and enduring value of Credit Exchange lies in the fact that we offer multiple lending solutions integrated into the wealth management process on the Envestnet platform, organized with lending partners who offer choice and transparency to the advisor” , said Jean Yackel, head of strategic initiatives at Envestnet. “The breakthrough of Credit Exchange provides data-driven prequalified credit offerings that allow advisors to recommend loans to their clients with exceptional ease and confidence. “

The Credit Exchange generates a wide range of prequalified credit offers through a select network of lenders.

“The key innovation is that the advisor will know, before speaking with a client, what prequalified loan options are available, as well as clearly presented prices and loan terms,” said Pierre Stanton, CEO of Advisor Credit Exchange. “This market information dramatically minimizes the risk of credit downturns and concerns about competitive pricing. The credit market, literally, takes the mystery out of loans for advisors and their clients.”

About Investnet

Envestnet, Inc. (NYSE: ENV) is a leading provider of intelligent systems for wealth management and financial well-being. Investnet’s unified technology empowers businesses and advisors to better understand their clients and deliver actionable insights that drive better results and improve lives.

Envestnet Wealth Solutions empowers businesses and advisors to better manage client outcomes and strengthen their practices with its state-of-the-art wealth management operating system and advanced portfolio solutions. Envestnet | Tamarac provides portfolio management, reporting, trading, rebalancing and client portal solutions for Registered Investment Advisors (“RIAs”). Envestnet | MoneyGuide provides goal-based financial planning applications. Envestnet Data & Analytics Enables Innovation and Knowledge Through Its Envestnet | Yodlee data aggregation platform.

Over 100,000 advisors and over 4,700 businesses, including: 16 of the 20 largest U.S. banks, 43 of the 50 largest wealth management and brokerage firms, more than 500 of the largest RIAs, and hundreds of service companies Internet, take advantage of Envestnet technology and services. Envestnet solutions improve knowledge of the customer, accelerate customer onboarding, improve digital customer experiences, and help drive better outcomes for businesses, advisors and their clients.

For more information on Envestnet, please visit and follow us on Twitter at @ENVintel.

About Advisor Credit Exchange, LLC

The Advisor Credit Exchange (ACE) is a technology-enabled network that brings together lenders and wealth managers, enabling investment firms and advisers to deliver financing solutions to build their clients’ net worth and achieve their financial goals. By integrating liability management with asset management and protection solutions, ACE has created new opportunities for advisors to help clients achieve financial well-being.

For more information on Advisor Credit Exchange, please visit

Envestnet, Inc. has a financial interest and serves on the board of directors of Advisor Credit Exchange (“ACE”). ACE provides lending solutions to advisors and their clients through the Envestnet platform through the subsidiary of Investnet, Envestnet Financial Technologies.

Media contacts
Dana taormina
JConnelly for Envestnet and Advisor Credit Exchange
[email protected]

SOURCE Envestnet, Inc.

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Credit event

What happens during a credit event?

Although credit default swaps (CDS) are essentially insurance policies against the default of a bond issuer, many investors have used these securities to rule on a particular credit event. The major bankruptcies of fall 2008 caught some investors in these contracts by surprise; after all, no major CDS event had occurred since Delphi in November 2005.

The events of fall 2008 put credit default swap settlement systems to the test. This article will explore what happens to CDS holders when a company experiences a credit event, with the Lehman Brothers (LEHMQ) bankruptcy as an example.

Single name credit default swaps

To understand the credit event auction failure process, it is helpful to have a general understanding of single name credit default swaps (CDS). A single-name CDS is a derivative in which the underlying instrument is a reference obligation or an obligation of a particular issuer or reference entity.

Credit default swaps have two sides: a protection buyer and a protection seller. The protection buyer insures himself against loss of capital in the event of default by the issuer of the bond. Therefore, credit default swaps are structured so that if the reference entity experiences a credit event, the protection buyer receives payment from the protection seller. (For more information, see: Credit Default Swaps.)

CDS Time to Maturity or Tenor

Duration, that is, the time remaining to maturity of a debt security, is important in a credit default swap because it coordinates the remaining term of the contract with the maturity of the asset. underlying. A properly structured credit default swap must match the maturity between the contract and the asset. If there is a mismatch between the term and maturity of the asset, then integration is unlikely. In addition, coordination between cash flows (and the subsequent calculation of yield) is only possible when the duration and maturity of the assets are linked.

In the inter-professional market, the standard term for credit default swaps is five years. This is also referred to as the expected term because the credit event results in a payment by the protected seller, which means the swap will be terminated. When the term expires, the payments on the default swap do the same.

Credit event triggers

In the world of CDS, a credit event is a trigger that causes the protection buyer to terminate and settle the contract. Credit events are agreed upon at the conclusion of the transaction and form part of the contract. The majority of single-name CDSs are traded with the following credit events as triggers: bankruptcy of the reference entity, default in payment, acceleration of the obligation, repudiation and moratorium.

Physical settlement against cash settlement

When a credit event occurs, settlement of the CDS contract can be either physical or cash. In the past, credit events were settled by physical settlement. This means that the protection buyers have effectively given the protection seller a bond for the peer. This worked well if the CDS contract holder actually owned the underlying bond.

As CDSs gained in popularity, they were used less as a hedging tool than as a way to bet on certain credits. In fact, the amount of CDS contracts issued exceeds the number of cash bonds on which they are based. It would be an operational nightmare if all buyers of CDS protection chose to physically settle the obligations. A more efficient way to settle CDS contracts should be considered.

To this end, cash settlement has been introduced to more efficiently settle single-name CDS contracts when credit events occur. Cash settlement better reflects the intention of the majority of participants in the single-name CDS market, as the instrument has shifted from a hedging tool to a speculative, or credit scoring tool.

CDS Settlement Process Evolves

As CDS became a tool for credit trading, the default settlement process also had to evolve. The volume of CDS contracts subscribed is much greater than the number of physical bonds. In this environment, cash settlement is superior to physical settlement.

In order to make cash settlement even more transparent, the Credit Event Auction has been developed. Credit event auctions set a price for all market participants who choose cash settlement.

The International Swaps and Derivatives Association (ISDA) Global Protocol Credit Events Auction was launched in 2005. When buyers and sellers of protection submit to the protocol of a particular bankrupt entity , they formally agree to settle their credit derivative contracts through the auction process. To participate, they must submit an ISDA membership letter by email. This happens for every credit event.

Credit default auctions

Both buyers and sellers of protection participating in the credit event auction have a choice between cash settlement and what is effectively physical settlement. Physical settlement in the auction process means that you settle on your net buy or sell of the position, not on each contract. This method is superior to the previous method because it reduces the volume of bond transactions required to settle all contracts.

There are two consecutive parts to the auction process. The first step involves physical claims and the broker market process where the Internal Market Midpoint (IMM) is defined. The dealers place orders for the debt of the company that has suffered a credit event. The price range received is used to calculate the IMM (for the exact calculation used, visit:

In addition to the definition of IMM, the dealer market is used to determine the size and direction of open interest (net buy or net sell). The IMM is published for viewing and used in the second stage of the auction.

Once the IMM is published, along with the size and direction of the open interest, participants can decide whether they want to submit limit orders for the auction. Limit orders submitted are then matched to open interest orders. This is the second step in the process.

The Lehman Brothers auction

The bankruptcy of Lehman Brothers in September 2008 provided a real test of the procedures and systems developed to settle credit derivatives. The auction, which took place on October 10, 2008, set a price of 8.625 cents on the dollar for Lehman Brothers’ debt. It has been estimated that between $ 6 billion and $ 8 billion changed hands during the cash settlement of the CDS auction. The recoveries for Fannie Mae and Freddie Mac (FRE) were 91.51 and 94.00 respectively. (To learn more, read: How Fannie Mae and Freddie Mac were saved.)

Collections were much higher for mortgage finance companies placed under trusteeship because the US government guaranteed the debt of these companies.

What does the price of 8.625 cents mean? This means that sellers of protection on Lehman CDS would have to pay 91.375 cents on the dollar to buyers of protection to settle and terminate contracts through the Lehman Protocol auction process.

In other words, if you had held Lehman Brothers bonds and bought protection through a CDS contract, you would have received 91.375 cents on the dollar. This would offset your losses on the cash bonds you held. You would expect to receive face value, or 100, at maturity, but you would not have received their salvage value until after the bankruptcy process was completed. Instead, since you bought protection with a CDS contract, you received 91.375. (To learn more, read: Case Study: The Collapse of Lehman Brothers.)

The “Big Bang” CDS

Further improvements and standardization of CDS contracts continue to be made. Together, the various changes implemented have been called the “Big Bang”.

In 2009, new CDS contracts began trading with a fixed coupon of 100 or 500 basis points, with the initial payment differing depending on the perceived credit risk of the underlying bond issuer.

Another improvement is to make the auction process a standard part of the new CDS contract. Previously, the auction process was voluntary and investors had to register individually for each protocol, which increased administration costs. Investors must now opt out of the protocol if they wish to settle their contracts outside of the auction process (using a pre-approved list of deliverable bonds).

The bottom line

Any changes to CDS contracts are expected to make single name credit default swaps more popular and easier to trade. This is representative of the evolution and maturity of any financial product. (For more information, see: Credit Default Swaps: An Introduction.)

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