February 28, 2022 – Toronto, Ontario – Newt Corporation (“Newt” or the “Company”), an integrated platform for digital financial services, is pleased to announce the integration of SAP Business One (“Business One”) software into its worldwide operations to augment existing financial and administrative controls.
Newt has begun the implementation process with SAP in Latin America, integrating Newt’s proprietary SaaS software with one of the best known ERP solutions on the market. This integration is expected to provide more efficient management of all Newt’s platforms by automating and optimizing its business processes and by enabling real-time monitoring of its financial and accounting operations across every country it operates in.
Sergio Maya Aleman, CEO of Latin America of Newt, stated: “Newt’s rapid expansion placed the demand for extensive software for financial and operations management, and Business One is expected to integrate with our systems and supply increased real time visibility into Newt’s accounting systems. We are constantly striving to set and meet the highest standards of operations, particularly in terms of transparency. Our investment into SAP Business One is expected to provide greater efficiency and insight in management results and speed of integration into accounting system reporting, while improving our financial controls.”
Newt Corporation is a digital payment and financial services platform enabling enterprises to serve the large underbanked population in the Americas with digital financial products and services and access to credit. Newt provides a fairer, faster, accessible ecosystem that fills the credit accessibility gap and reshapes the way businesses and consumers save, move money and conduct commerce. The Company’s financial ecosystem offers mobile and digital bill payments, cross-border money transfers, digital wallet, prepaid stored value cards, and access to a large leading catalog of digital gift cards and subscription services. Newt’s omnichannel distribution and processing capability allows consumers to conveniently connect through mobile, web, point-of-sale and Newt branded electronic payment center kiosks located across a network of merchant locations. Newt is also bringing credit financing for small to medium sized enterprises, payroll loans for consumers, credit cards, loan financing, and other credit services for those who lack access to traditional financing.
For more information, visit www.newtfinancial.com
SAP SE is a German multinational software corporation based in Walldorf, Baden-Württemberg, that develops enterprise software to manage business operations and customer relations. The company is especially known for its ERP software, SAP Business ONE. SAP is the largest non-American software company by revenue, the world’s third-largest publicly-traded software company by revenue, and the largest German company by market capitalisation. Apart from ERP software, the company also sells database software and technology (particularly its own brands), cloud engineered systems, and enterprise software products, such as human capital management (HCM) software, customer relationship management (CRM) software (also known as customer experience), enterprise performance management (EPM) software, product lifecycle management (PLM) software, supplier relationship management (SRM) software, and supply chain management (SCM) software.
For more information, visit www.sap.com
For further information, please contact:
100 King St. West, Suite 5700
Toronto, ON M5X 1C7
Forward – Looking Information
Certain information set forth in this news release may contain forward – looking information that involve substantial known and unknown risks and uncertainties. This forward – looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, failure to enter into a definitive agreement and complete the Acquisition, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward – looking information. The parties undertake no obligation to update forward – looking information except as otherwise may be required by applicable securities law.