AnalytixInsight Inc. ("AnalytixInsight", or the "Company") (TSX-V: ALY; OTCQB: ATIXF), a financial content and enterprise software solutions provider, reports financial results for the quarter ended March 31, 2022, and announces the appointment of Luca Facchini Provera as chairman of the Company's FinTech affiliate, MarketWall.
Q1 2022 Key Financial Highlights:
MarketWall Board of Directors
MarketWall has appointed Luca Facchini Provera as chairman and director to help guide the next phase of MarketWall's growth. Luca Facchini Provera is Senior Director, Head of Sales Support at Intesa Sanpaolo Banca dei Territori Division. He brings over 30 years of experience in the banking sector and has strong wealth management expertise. He is responsible for commercial support of financial products to the retail network and is responsible for the Robo4Advisory & RoboAdvisory project, a wealth management initiative within Intesa Sanpaolo's 2022 - 2025 business plan using Aladdin by BlackRock He was previously responsible for the value proposition to the affluent client market segment as well as the marketing of investment products and the support of securities brokerage in the branch networks. He also serves on the board of directors of Prestitalia S.p.A., which was acquired by Intesa Sanpaolo in 2020. In conjunction with this appointment, Massimo Tessitore has resigned as director.
The board of directors of MarketWall now consists of Luca Facchini Provera, Marco Roscio Ricon, CEO of MarketWall, and Prakash Hariharan, Chairman and CEO of AnalytixInsight. The Company also expects pending changes in the board of directors of MarketWall's subsidiary, InvestoPro.
During the quarter, the Company announced the launch of Morningstar Global Market, an innovative enterprise research and market data platform targeted for institutional users of financial data and related investment products. Morningstar Global Market is built on MarketWall's GEMINA application and is designed as a cloud-based solution. This is the initial product offering under the partnership, where Morningstar is anticipated to utilize MarketWall's technology platform to bring a comprehensive suite of innovative and cost-effective cloud-based FinTech products to market in response to the growing demand from its enterprise clients.
During the quarter, the Company announced that its white-label trading platform, GEMINA, is now deployed at a second European bank, which has over 100,000 employees, under the Morningstar Global Market initiative.
The Company now expects GEMINA to be licensed by a third European financial institution and GEMINA platform enhancements for this client commenced during the quarter. If completed, the Company expects this license agreement to be the largest GEMINA customer signed to date.
During the quarter, the Company announced that as part of the recently-launched Morningstar Global Market initiative, Morningstar's wide-ranging financial research information and market data will now be available on InvestoPro, the digital online stock trading platform launched by MarketWall and Intesa Sanpaolo.
During the quarter, the Company developed sentiment analysis tools to measure and score unstructured data elements that influence stock price movements. These unstructured data elements include social media sentiment analysis, short interest scores, business relationship insights, news sentiment, and more.
During 2021, the InvestoPro board of directors approved a strategic plan wherein certain accounts are to be transitioned to InvestoPro, thanks to the support of Intesa Sanpaolo. The Company is collaborating with the MarketWall board of directors to advance the previously approved strategic plan.
AnalytixInsight's Workforce Management division, Euclides Technologies, is undergoing a strategic review considering the Company's increasing focus within the FinTech industry.
Complete details of the Company's financial and operating results are available under the Company's profile at www.SEDAR.com.
ABOUT ANALYTIXINSIGHT INC.
AnalytixInsight is a data analytics and enterprise software solutions provider to world-leading institutions across various industries. AnalytixInsight develops and markets cloud-based platforms providing financial content, stock trading, and research solutions for banks, brokers and investors in the financial services industry. AnalytixInsight holds a 49% interest in MarketWall, a developer of FinTech solutions for financial institutions. Visit AnalytixInsight.com.
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the Company's business operations and objectives, particularly respecting MarketWall's plans to migrate certain Intesa Sanpaolo stock trading accounts to the InvestoPro platform; changes to the InvestoPro board of directors, the Company's strategic review of its Workforce Management division; the impact of sentiment analysis tools developed by the Company; the completion and size of a GEMINA licensing agreement with a third European financial institution; Morningstar's anticipated future use of MarketWall's technology platform; and the Company's future performance. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of AnalytixInsight, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the Company's technology and revenue generation; risks associated with operation in the technology sector; the Company's ability to successfully integrate new technologies and employees; foreign operations risks; and other risks inherent in the technology industry. Although AnalytixInsight has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. AnalytixInsight does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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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