Ideanomics Provides an Update on Business Operations to Align With 2019 Roadmap
- Revises operations to 3 key areas in response to market demand
- Business transformation nears completion; previously announced partnerships start to come into focus
NEW YORK, March 15, 2019 /PRNewswire/ -- Ideanomics (NASDAQ: IDEX) ("Ideanomics" or the "Company"), a global AI-driven management and financial services company acting as a catalyst for transformative industries, is pleased to provide an update on our latest operational business model.
Under this adjustment, the company's core operational areas are now aligned with the market demand we are seeing for 2019, these three "engines" are:
The Ideanomics AI Engine Group. Built upon our subsidiary BBDCG, which we are re-branding as Intelligenta, we will be launching an AI-powered database fine-tuned for the banking and insurance industries to be available as both a PaaS and Saas enterprise solution. We also anticipate an additional AI service offering for non-financial services customers, through partnership with a leading enterprise-grade AI solutions provider that is currently in negotiations.
The Ideanomics Digital Banking Advisory Group covering 2 key areas of operations:
- Digital Renaissance Innovation Catalyst Programming Hubs from 5 key global innovation centers such as our planned fintech campus in West Hartford, Connecticut, along with our planned cleantech/Greentech campus in Kuala Lumpur, Malaysia and other soon to be announced innovation centers in other global locations. These global innovation centers will foster a pipeline of technological excellence in cleantech, fintech, tradetech, agritech, regtech, insuretech, playtech, healthtech, cyber security, and more. As well as our external deal origination efforts described below, we anticipate scaling these technologies into profitable companies within each sector of expertise to the point of IPO or Digital Security Offering for each respective company. In the last 18 months, Ideanomics has formed more than 10 previous acquisitions, joint ventures, and partnerships, such as our previously announced partnership with CVC which have helped form the initial companies within these hubs.
- Global Asset-Backed Debt Exchange Ecosystem built on a foundation of:
- Deal Origination, with a focus on asset-backed securities such as Real Estate, Transportation Assets, and Consumption Insurance
- AI-based Risk Management and Benchmarking for Fixed Income offerings
- Banking Advisory Broker Dealers (in negotiations)
- Issuance / Custody / Trading through our investment in DBOT and others in negotiations
- Market-leading Sales & Mandating
The Ideanomics Digital Asset Management Group provides large-scale holders of assets and crypto currencies with either asset-backed or benchmarked-value globally compliant digital advisory and business development services that stabilize and grow the value of their portfolios.
We expect to further advise the markets on our sales initiatives during our 2018 year-end investor conference call on April 1, 2019. (See our announcement here).
About Ideanomics
Ideanomics harnesses the power of Artificial Intelligence and Blockchain to empower your financial decisions. Ideanomics, a global Fintech and AI catalyst for transformative industries combines deal origination and enablement with technology and applications as part of the next-generation of financial services.
The company is headquartered in New York, NY, and has offices in Beijing, China, with plans for global centers for Technology and Innovation such as our primary fintech village campus in West Hartford, CT.
Safe Harbor Statement
This press release contains certain statements that may include "forward looking statements". All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties, and include statements regarding our intention to transition our business model to become a next-generation financial technology company, our business strategy and planned product offerings, our intention to phase out our oil trading and consumer electronics businesses, and potential future financial results. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of risks and uncertainties, such as risks related to: our ability to continue as a going concern; our ability to raise additional financing to meet our business requirements; the transformation of our business model; fluctuations in our operating results; strain to our personnel management, financial systems and other resources as we grow our business; our ability to attract and retain key employees and senior management; competitive pressure; our international operations; and other risks and uncertainties disclosed under the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our most recent Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, and similar disclosures in subsequent reports filed with the SEC, which are available on the SEC website at www.sec.gov.. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Investor Relations and Media Contact
Tony Sklar, VP of Communications at Ideanomics
55 Broadway, 19th Floor New York, New York 10006
Email: [email protected]
www.ideanomics.com
Tel: +1.212.206.1216
SOURCE Ideanomics
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