via NewMediaWire --
NextPlay Technologies, Inc.
(NASDAQ: NXTP), a digital business ecosystem for consumers,
digital advertisers, video gamers and travelers, has strengthened
its executive team with the appointment of Jorge E. Miró Hernández
as President and Chief Operating Officer, as well as appointing
Carla P. Méndez as Chief Administrative Officer of NextBank
International (the international banking unit of the company’s
fintech division).
Over the past several years, Miró has focused on
assisting de novo financial institutions comply with regulatory
regimes, particularly regarding the Federal Financial Institutions
Examination Council. He has held various positions at local
Financial Institutions and International Banking and Financial
Entities in Puerto Rico, including Scotiabank, where he developed,
managed, and maintained numerous compliance policies and
procedures.
“As an industry leader in fintech, banking
operations and compliance, we see Jorge making strong contributions
to the growth and development of our fintech division as head of
our new bank,” said co-CEO Bill Kerby. “Currently NextBank has many
times more business than its capital base will allow it to
underwrite. Jorge’s wealth of knowledge and executive experience in
leading banking and compliance teams for several international
financial institutions made him an ideal choice for implementing
our growth strategies. This includes several new financial products
and services that should both attract new customers as well as
complementing our other divisions.”
NextBank currently services U.S. consumers and
international clients that seek a personalized banking experience
but is quickly evolving into a diversified FinTech solutions
company that offers banking, asset management, mobile payments, and
other financial services. As an example, NextBank plans to launch
an innovative mobile banking and FinTech app with access to
cryptocurrency exchanges and digital wallets in the fourth quarter
of 2021, as well as a new insurance offering in the first quarter
of 2022.
Todd Bonner, Head of NextPlay’s Fintech Division,
stated: “Under Jorge’s leadership, we see NextBank emerging as a
global player with a new vision for international banking and
global commerce that integrates with our other divisions, creating
strong catalysts for growth over the coming year. In addition to
growing traditional banking services, we have applications underway
for regulatory licensing approval of new products ranging from
insurance to protect the wealth of our banking customers to travel
programs that assist customers in financing and insuring vacations.
All will utilize blockchain solutions to minimize risk to the bank
while accelerating NextPlay’s growing ecosystem of technology
platforms.”
NextPlay is currently working on both growing its
digital connected ecosystem and integrating its technology
platforms (including AI-powered AdTech, travel, gaming, FinTech and
cryptocurrency banking). When completed, the NextPlay ecosystem
will connect companies and brands to consumers across multiple
interactive media channels, including SmartTVs, PCs, laptops,
tablets, and smartphones.
“I see tremendous opportunities for expanding
NextBank services and revenue streams, especially in line with the
other units in NextPlay’s global digital ecosystem that are
involved in cryptocurrency, gaming and travel,” noted Miró. “For
example, NextBank can provide financial services to NextTrip,
including the ability for travelers to finance travel activities,
such as medical tourism; merchant credit card services; a
NextTrip-branded credit card; and traveler insurance services,
including trip cancelation and interruption, property loss, and
medical coverage. We see the expansion of our international online
banking services as another area of strong potential.”
About Jorge E. Miró Hernández
Miró brings to NextBank more than 15 years of
experience in the financial services industry. Before joining
NextBank, he served as Chief Compliance Officer for one of the
leading Puerto Rico-based banks, to provide international
correspondent banking, commercial and individual banking services
with an FRBNY Online Account. Miró also led the regulatory
compliance teams of other two additional IBE’s International
Banking Entities.
Under his leadership, the IFE (International
Financial Entity) was the first Puerto Rico-based bank approved for
an account under the Federal Reserve Bank of New York revised
Account and Financial Services Handbook. Miró also serves on the
board of directors of the “Fundación Atención Atención,” an
organization for children with special needs and education.
About Carla Méndez
NextPlay has also appointed Carla Méndez as Chief
Administrative Officer of NextBank. Méndez brings to NextBank more
than nine years of experience leading small business operations and
startups. She has managed several business expansions, as well as
logistics between companies based in Puerto Rico and the
U.S.
Prior to joining NextBank, she was the Director of
Operations for a private investment firm where she oversaw
operations serving Asia, Latin America, South America, and the U.S.
She holds a degree in Business Administration in Human Resources
and Management from the University of Puerto Rico.
About NextBank
Acquired by NextPlay in July, NextBank is an
International Financial Entity (IFE) operating under the laws of
the Commonwealth of Puerto Rico. NextBank is licensed under Act 273
by the Office of the Commissioner of Financial Institutions (OCIF),
and currently offers concierge banking services and lending
products to successful entrepreneurs and companies. For more
information visit https://next.bank/.
About NextPlay Technologies
NextPlay Technologies, Inc. (Nasdaq: NXTP) is a
technology solutions company offering games, in-game advertising,
crypto-banking, connected TV and travel booking services to
consumers and corporations within a growing worldwide digital
ecosystem. NextPlay’s engaging products and services utilize
innovative AdTech, Artificial Intelligence and Fintech solutions to
leverage the strengths and channels of its existing and acquired
technologies. For more information about NextPlay Technologies,
visit www.NextPlayTechnologies.com and follow us
on Twitter @NextPlayTech and LinkedIn.
Forward-Looking Statements
This press release includes “forward-looking
statements” within the meaning of, and within the safe harbor
provided by the Safe Harbor Provisions of the Private Securities
Litigation Reform Act of 1995, Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. Forward-looking statements give our current
expectations, opinions, belief or forecasts of future events and
performance. A statement identified by the use of forward-looking
words including “will,” “may,” “expects,” “projects,”
“anticipates,” “plans,” “believes,” “estimate,” “should,” and
certain of the other foregoing statements may be deemed
forward-looking statements. Although the Company believes that the
expectations reflected in such forward-looking statements are
reasonable, these statements involve risks and uncertainties that
may cause actual future activities and results to be materially
different from those suggested or described in this news release.
Factors that may cause such a difference include risks and
uncertainties related to our need for additional capital which may
not be available on commercially acceptable terms, if at all, which
raises questions about our ability to continue as a going concern;
the fact that the COVID-19 pandemic has had, and is expected to
continue to have, a significant material adverse impact on the
travel industry and our business, operating results and liquidity;
amounts owed to us by third parties which may not be paid timely,
if at all; certain amounts we owe under outstanding indebtedness
which are secured by substantially all of our assets and penalties
we may incur in connection therewith; the fact that we have
significant indebtedness, which could adversely affect our business
and financial condition; uncertainty and illiquidity in credit and
capital markets which may impair our ability to obtain credit and
financing on acceptable terms and may adversely affect the
financial strength of our business partners; the officers and
directors of the Company have the ability to exercise significant
influence over the Company; stockholders may be diluted
significantly through our efforts to obtain financing, satisfy
obligations and complete acquisitions through the issuance of
additional shares of our common or preferred stock; if we are
unable to adapt to changes in technology, our business could be
harmed; if we do not adequately protect our intellectual property,
our ability to compete could be impaired; our long-term travel
business success depends, in part, on our ability to expand our
property owner, manager and traveler bases outside of the United
States and, as a result, our travel business is susceptible to
risks associated with international operations; unfavorable changes
in, or interpretations of, government regulations or taxation of
the evolving ALR, Internet and e-commerce industries which could
harm our operating results; risks associated with the operations
of, the business of, and the regulation of, Longroot and NextBank
(formerly IFEB); the market in which we participate being highly
competitive, and because of that we may be unable to compete
successfully with our current or future competitors; our potential
inability to adapt to changes in technology, which could harm our
business; the volatility of our stock price; risks associated with
the integration of the operations of HotPlay Enterprise Limited,
which acquisition we recently competed; the fact that we may be
subject to liability for the activities of our property owners and
managers, which could harm our reputation and increase our
operating costs; and that we have incurred significant losses to
date and require additional capital which may not be available on
commercially acceptable terms, if at all. More information about
the risks and uncertainties faced by the Company are detailed from
time to time in the Company’s periodic reports filed with the SEC,
including its most recent Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q, under the headings “Risk Factors”. These
reports are available at www.sec.gov. Other unknown or
unpredictable factors also could have material adverse effects on
the Company’s future results and/or could cause our actual results
and financial condition to differ materially from those indicated
in the forward-looking statements. Investors are cautioned that any
forward-looking statements are not guarantees of future performance
and actual results or developments may differ materially from those
projected. The forward-looking statements in this press release are
made only as of the date hereof. The Company takes no obligation to
update or correct its own forward-looking statements, except as
required by law, or those prepared by third parties that are not
paid for by the Company. If we update one or more forward-looking
statements, no inference should be drawn that we will make
additional updates with respect to those or other forward-looking
statements.
Source: NextPlay Technologies
Company Contacts:
NextPlay Technologies, Inc
Richard Marshall
Director of Corporate Development
Tel (954) 888-9779
richard.marshall@nextplaytechnologies.com
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