Finacity, a White Oak Company, Facilitates Consumer Loan Funding Program for Express Credit Group’s African Lending Operations

STAMFORD, Conn., Oct. 06, 2021 (GLOBE NEWSWIRE) — Finacity Corporation, a White Oak Company, ("Finacity") announced that it has successfully completed the facilitation of a new consumer loan funding program for Express Credit Group's Botswana specialty finance operations ("Express Credit"). The new facility will purchase loans from Express Credit through a newly created special purpose corporation. The first tranche consisted of the purchase of USD 9.0 million pool of payroll deduction loans. Additional tranches are expected to follow. Finacity developed the program in coordination with Africa based financial advisor Africa Growth Capital.

About Express Credit Group

Express Credit Group operates specialty finance businesses in several African nations, including Botswana and Namibia. Express Credit offers payroll deduction loans, unsecured loans and real estate secured loans to consumers. Charlotte Mathula, CEO of Express Credit Botswana said that "the new loan funding program enhances our liquidity and our ability to serve our customers. Express Credit Botswana anticipates additional loan demand which could be supported by this new facility."

About Finacity, a White Oak Company

Finacity, a White Oak Company, specializes in the structuring and provision of efficient capital markets receivables funding programs, supplier and payables finance, back–up servicing, and bond administration. Finacity currently facilitates the financing and administration of an annual receivables volume of approximately US $100 billion. With resources in the USA, Europe Latin America and Asia, Finacity conducts business throughout the world with obligors in 175 countries. Finacity is affiliated with White Oak Global Advisors, LLC, a leading alternative debt manager specializing in originating and providing financing solutions to facilitate the growth, refinancing and recapitalization of small and medium enterprises. For further information, please visit www.finacity.com.

About White Oak Global Advisors

White Oak Global Advisors, LLC ("WOGA"), together with its financing affiliates, provides over twenty lending products to the market, including term, asset–based, and equipment loans, to all sectors of the economy. Since its inception in 2007, WOGA and its affiliates have deployed over $9 billion across its product lines, utilizing a disciplined investment process that focuses on delivering risk–adjusted investment returns to investors while establishing long term partnerships with our borrowers. More information can be found at www.whiteoaksf.com.

For more information on this transaction, please contact:

FINACITY CORPORATION, a White Oak Company

Paul Jenison
Tel: +1 203 428 3511
Mobile +1 917–833–1827
pjenison@finacity.com


Singapore to Leverage the Global Cyber Alliance’s IoT Threat Analytics Platform

SINGAPORE and NEW YORK, Oct. 06, 2021 (GLOBE NEWSWIRE) — Today, the Cyber Security Agency of Singapore (CSA) has announced that it will partner with the Global Cyber Alliance (GCA) to leverage the capabilities of GCA's Automated IoT Defence Ecosystem (AIDE) platform to monitor and address IoT threats and safeguard the cybersecurity of the IoT space. The project will be the first large–scale application of the AIDE platform.

The global number of IoT devices is expected to rise to more than 50 billion by 2030. This presents a huge attack surface for malicious actors, which may lead to consequences like the theft of personal data and the disruption of services using IoT devices as botnet nodes to conduct distributed denial of service (DDoS) attacks. There is a need to proactively watch for global IoT threats and attack data, so that nations can be better prepared before the next wave of botnet attacks hit their shores.

The IoT threat analytics platform can provide CSA visibility on the types of IoT–related cyber threats that may affect the country's cyberspace. The insights from the platform allow partners to put in place policies and technical measures to safeguard against threat vectors through the conduit of IoT devices. The result is a better prepared and safer IoT cyberspace.

“The use of IoT devices is growing exponentially. CSA has introduced several initiatives to improve IoT security, including the world's first multi–level labelling scheme for consumer IoT devices"" the Cybersecurity Labelling Scheme. This latest initiative ""our partnership with GCA on AIDE"" will help us be better prepared against potential IoT attacks. Cybersecurity is a team sport where everyone has a part to play. CSA will continue to work with stakeholders to look for ways in building a more resilient and secure IoT space,” said Mr. David Koh, Commissioner of Cybersecurity and Chief Executive of CSA.

GCA's AIDE ecosystem is a central component of the project. This large repository of IoT threat intelligence relies on a globally distributed honeyfarm and on data feeds from partners.

According to Mr. Philip Reitinger, President and CEO of GCA, “This is a unique opportunity to increase GCA's international collaboration and expand our network of partners, from cybersecurity agencies and large internet players to academia and research institutions. This project ""and CSA's support as a whole"" is a crucial milestone in our roadmap for the AIDE ecosystem and in our long–term vision on IoT cybersecurity. The fact that this effort is happening in Singapore, a global flagship for technology, will pave the way to expand the initial scope of the project to other international smart cities.”

To learn more about AIDE visit: https://www.globalcyberalliance.org/aide/.

About the Global Cyber Alliance
The Global Cyber Alliance (GCA) is an international, cross–sector effort dedicated to reducing cyber risk and improving our connected world. We achieve our mission by uniting global communities, implementing concrete solutions, and measuring the effect. GCA, a 501(c)(3) in the US and a non–profit in the UK and Belgium, was founded in September 2015 by the Manhattan District Attorney's Office, the City of London Police, and the Center for Internet Security. Learn more at www.globalcyberalliance.org.

Contact at GCA:
Alejandro Fernndez–Cernuda Daz
Director of Engagement, Internet Integrity Program
afcernuda@globalcyberalliance.org