TIDMFFWD
FastForward Innovations Limited
14 November 2018
14(th) November 2018
FastForward Innovations Limited
("FastForward" or the "Company")
Investee Company Update: Factom Inc.
The Board of AIM-traded FastForward Innovations Limited, trading
under the symbol FFWD, ("FastForward", the "Company" or "FFWD"),
notes the following announcement released on 13 November concerning
investee company Factom Inc. ("Factom"). FastForward has a current
equity interest in Factom of 2.06% and an investment of US$6million
under a SAFE Agreement (see terms as announced on 23 July
2018).
The announcement is set out below without material changes or
adjustments.
LUXEMBOURG, Nov. 13, 2018 (GLOBE NEWSWIRE) - Equator, an
Altisource business unit and a leading provider of residential loan
default software and marketing solutions for many of the country's
top servicers, real estate agents and vendors, today announced an
agreement with Factom, Inc. to integrate the Factom(R) Harmony
blockchain-as-a-service (BaaS) platform into the Equator(R) PRO
solution.
Equator PRO is a software-as-a-service (SaaS) solution that
helps servicers increase efficiency and vendor oversight across the
default servicing process. Designed for all portfolio sizes, the
Equator PRO product suite of loan management, loan modification,
short sale/deed-in-lieu, foreclosure/bankruptcy, and real estate
owned (REO) focused products, provides servicers with tools to help
manage defaulted loans and REO and make more strategic and
cost-efficient default servicing decisions.
Factom's Harmony BaaS platform harnesses the power of blockchain
to create an immutable record of activities, data, events and
decisions. Factom's blockchain solutions will provide a distributed
mechanism to preserve data, files and digital records, making them
verifiable and independently auditable.
"Equator is committed to delivering technology that provides
transparency and compliance throughout the default process," said
Patrick G. McClain, Senior Vice President of Equator and Hubzu
Auction Services for Altisource. "Incorporating Factom's blockchain
tools will support our customers' compliance obligations. At
Equator we are regularly working to improve and advance our default
servicing technology, and adding cutting-edge tools like Factom's
Harmony is another example of our continued leadership."
The addition of Factom's Harmony provides Equator customers the
opportunity to incorporate the recordation of data, documents and
key audit events onto Factom's blockchain solution. Factom's
Harmony provides options for individual loans to be tracked as
individual chains of data on the blockchain. This design allows
Equator PRO customers the option to embed blockchain preservation
into their various workflows, allowing for an immutable and
encrypted blockchain audit record to be built for each loan and
each workflow step.
"At Factom we know a practical blockchain solution is needed to
specifically deal with complex business data and documents," said
Laurie Pyle, COO of Factom. "We look forward to working with
Equator, who shares the vision of using blockchain technology to
bring transparency and efficiency to the default servicing
process."
Equator PRO with Harmony offers a blockchain technology solution
to help address the complexities of the default mortgage process.
The combination of Equator's powerful workflow technology and
Factom's blockchain offers default mortgage participants the
opportunity for enhanced tracking, management and collaboration
within the default servicing process. In this model, each party
retains their documents, files and data securely within their data
centers while providing confidence in the integrity of the
information being shared and accessed.
About Equator(R)
Equator, an Altisource(R) business unit, is a leading provider
of default software solutions for servicers, real estate agents,
vendors and other mortgage and real estate industry professionals.
Equator's REO, short sale and loss mitigation modules have
processed transactions totalling more than $330 billion since its
inception, including nearly $12 billion in 2017. Equator is part of
the Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) family of
businesses. For more information, please visit equator.com.
About Factom, Inc.
Factom, Inc. is an Austin-based blockchain technology company
that is on a mission to provide blockchain data provenance for
complex industries. Factom specializes in building scalable
blockchain technology to handle enterprise data and volume with a
predictable cost model. Factom is the recognized leader in
providing blockchain solutions in order to preserve, ensure and
validate digital assets. For information, please visit
factom.com.
About Altisource(R)
Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) is an
integrated service provider and marketplace for the real estate and
mortgage industries. Combining operational excellence with a suite
of innovative services and technologies, Altisource helps solve the
demands of the ever-changing markets we serve. Additional
information is available at altisource.com.
FastForward Innovations Limited
info@fstfwd.co
Ed McDermott/Ian Burns/Sue Saunders
Beaumont Cornish Limited (Nomad)
+44 (0) 207 628 3396
James Biddle/ Roland Cornish
Optiva Securities Limited (Broker)
+44 (0) 203 411 1881
Jeremy King
For further information please visit www.fstfwd.co or
contact:
CAUTIONARY STATEMENT
The AIM Market of London Stock Exchange plc does not accept
responsibility for the adequacy or accuracy of this release. No
stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained herein. All
statements, other than statements of historical fact, in this news
release are forward-looking statements that involve various risks
and uncertainties, including, without limitation, statements
regarding potential values, the future plans and objectives of Fast
Forward Innovations Ltd. There can be no assurance that such
statements will prove to be accurate, achievable or recognizable in
the near term.
Actual results and future events could differ materially from
those anticipated in such statements. These and all subsequent
written and oral forward-looking statements are based on the
estimates and opinions of management on the dates they are made and
are expressly qualified in their entirety by this notice. Fast
Forward Innovations assumes no obligation to update forward-looking
statements should circumstances or management's estimates or
opinions change.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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