August 31, 2022 – Toronto, Ontario – Newt Corporation (“Newt” or the “Company”), an integrated platform for digital financial services, is pleased to announce the formation of a US entity named Afino, Inc. for launching of its financial services platform oriented at Hispanic and Latino communities in the USA.
Utilizing Newt’s existing technology, its partners and its proven tech stack, the Afino brand will focus initially on targeting the US Hispanic and Latino market of immigrants and underbanked communities with family connections in Mexico, using cross-border international banking services in place. Newt’s deep understanding of the Mexican market and customer behavior, in conjunction with the FDIC banking partners will provide a solid US business strategy for connecting and offering products unique to the Mexican ecosystem.
Simultaneously with the launch of Afino in the USA, the Company is pleased to welcome Dawn-Marie Vaughan as President and COO of Afino, effective immediately. Newt’s executive management continues with the goal of launching a financial platform with experienced team members to lead and provide guidance and governance to maximize efficient operations in the USA.
Ms. Vaughan will oversee Afino’s operations in North America, including launching of Mobile Banking applications and coordination with FDIC banking partners. Ms. Vaughan has an established and successful executive track record working for technology companies, with over 20+ years experience in finance, cybersecurity and fraud protection technology.
Ms. Vaughan has held senior leadership roles leading investigations, AML/fraud protection, software development, sales operations, finance, and consulting services. She currently serves on the boards of two private firms. Additionally, Ms. Vaughan has practical experience in deployment and operations in Peru, Colombia, Argentina & Brazil.
“We are truly fortunate to have Ms. Vaughan accept the President & COO appointment. Ms. Vaughan has invaluable experience in technology, fraud protection and cybersecurity, perhaps none more relevant than her 10 years at a software-based international corporation, one of the USA’s most successful and valuable companies. We welcome her partnership and strongly believe it to be in the best interest of shareholders to have Ms. Vaughan lead Afino as President and COO”, stated Steven Hoffmann, Newt’s Founder & CEO.
Afino is a newly developed American financial technology company which will provide fee-free mobile banking services with support of FDIC Bank Partners. Afino qualified account holders are issued Visa debit cards and have access to an online banking system accessible through the company’s website and its mobile app. Afino will have no physical branches and will not charge monthly or overdraft fees, nor does it require an opening deposit or minimum balance to open a free checking account.
The goal for Afino’s platform is to offer clients enhanced features enabling seamless transactions. Transaction activity and balances will be updated instantly. Analytics tracks historical and behavioral spending, providing recommendations for savings plans. Accounts are created digitally, in minutes, at your convenience and on your mobile device or web application. The platform is focused on international payments and secure and convenient ways to make online purchases.
For more information, visit https://getafino.com
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
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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, 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.