Toronto, Ontario--(Newsfile Corp. - March 7, 2022) - Hank Payments Corp. (TSXV: HANK) ("Hank" or the "Company"), a North American financial technology company that uses powerful technology to automate the complexities of personal cash flow management on one centralized platform, is pleased to announce that it has joined as a member of the North American Financial Data and Technology Association ("FDATA"). FDATA provides its members with a collective seat at the industry negotiation table on several policy working groups, expert advisory groups, and task forces related to Open Banking.
FDATA works with government, policymakers, and regulators to implement a fair and ethical competitive landscape that promotes competition, innovation, and better consumer outcomes. Members provide innovative financial applications and services that empower consumers to make better financial decisions and take fuller control over their financial lives. Joining FDATA empowers Hank to continue upholding and improving these industry-leading standards through forwarding intelligence on crucial policy matters, changes, and trends. As open banking initiatives continue to gain traction, innovative financial technology companies like Hank are well positioned to deliver personalized products and services.
"Today North Americans can benefit from innovation in fintech technology to improve their financial wellness," said Jeff Guthrie, Hank's President and COO. "We are excited to work together with FDATA and policymakers to establish open banking regulations that allow everyone to participate and innovate in a healthy, competitive, financial marketplace."
"As the North American payments landscape continues to modernize, we are delighted to welcome the innovators at Hank into our growing membership and look forward to an exciting new partnership that will further advance our shared belief that consumers and small businesses should have full control over their own financial data," said Steve Boms, Executive Director of FDATA North America.
The Company also announces that it has entered into a 12-month marketing and consulting contract with Toronto based marketing firm, North Equities Corp. (the "Contract"). North Equities Corp. specializes in various social media platforms and will be able to facilitate greater awareness and widespread dissemination of the Company's news. In connection with the Contract, the Company will pay North Equities $50,000 CAD plus applicable taxes per three-month period and 1,050,000 options priced at $0.15 per option. The options will vest over 12 months, with 25% vesting every quarter. The Contract may be cancelled before the six-month mark of the campaign. North Equities currently does not own shares of the Company.
About FDATA
The Financial Data and Technology Association is a not-for-profit representing FinTechs operating in Open Banking and Open Finance. It works with governments, policymakers, and regulators to implement a fair and ethical competitive landscape that promotes competition, innovation, and better consumer outcomes. Its members provide innovative financial applications and services that empower consumers to make better financial decisions and take fuller control over their financial lives. For further information about FDATA, please visit: https://fdata.global/.
About Hank Payments Corp.
Hank is a financial technology company. The Hank software platform (the "Hank Platform") acts as a consumer's financial concierge using a powerful technology to automate the complexities of personal cash flow management. Through its FDIC (Federal Deposit Insurance Corporation) insured bank partners in the United States, Hank helps consumers in every state find funds in their existing cash flow and speed up the retirement of liabilities. The Hank Platform debits consumers when they have cash, stores the cash with partner banks, then automatically instructs partner banks to pay bills and loans as they come due, and often sooner than required. Approximately half of Hank's customers are financially sound and use the Hank Platform for convenience, while the other half improve their payment performance through the use of the Hank Platform. One hundred percent of Hank's customers are in the USA and pay setup and ongoing monthly processing fees while remaining on the Hank Platform for an average of three years. Hank continues to innovate and anticipates launching more expansive features to its expected growing customer base that will provide greater visibility into their cash flow, credit performance, and viability to borrow or refinance at lower rates, including introducing Hank customers to interested lenders.
Forward-Looking Statements
This news release may contain forward-looking statements (within the meaning of applicable securities laws) which reflect the Company's current expectations regarding future events. Forward-looking statements are identified by words such as "believe", "anticipate", "project", "expect", "intend", "plan", "will", "may", "estimate" and other similar expressions. These statements are based on the Company's expectations, estimates, forecasts and projections and include, without limitation, statements regarding the future success of the Company's business.
The forward-looking statements in this news release are based on certain assumptions, including without limitation the Shares beginning trading on the TSXV. The forward-looking statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, the Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
FOR FURTHER INFORMATION PLEASE CONTACT:
For more information regarding Hank Payments Corp., please contact: Investor Relations, ir@hankpayments.com and visit the Company's website at www.hankpayments.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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