New FinTech solution combatting tax corruption to be offered for free to developing countries

December 14th, 2015 London, UK: Financial inclusion startup and Innovate Finance member  Xcordis today announced the launch of its Auto-Tax technology – a platform which offers a full audit trail from tax collection to distribution.

The solution responds to a need to address one of the biggest issues that exacerbate poverty in many countries: the problem of tax collection – which is often inefficient, inept or corrupt.

Distribution of smaller tax receipts is far from open and honest as well with many unwelcome levels of corruption attached to the government spend, leading to less available money to help the poor.

Robert Atkin, CEO of Xcordis, said: “We have developed a solution to reduce graft by utilising an automated financial technology tool.  Deploying our Auto-Tax the sales tax on all ecommerce can be automatically paid to the tax collector as part of each individual transaction and the government can then optionally automatically distribute funds directly to designated projects and departments.”

The application provides a full audit trail from collection to distribution thereby providing full transparency of the tax collection process.

Atkin adds: “By gradually introducing the process, perhaps by industry vertical, rather than the big bang process, you can improve success rates until the old corrupt methods of collection are consigned to history.”

Before making the process compulsory, reduced tax rates could be offered as an incentive to those organisations that voluntarily engage. Less effort will be needed to collect tax and verification can be automated, not least with cross checks against bank receipts.

A seamlessly integrated process, Auto-Tax can significantly reduce administration in ecommerce organisations.  Auto-Tax is available free of charge to any developing country that will use part of the receipts to directly help alleviate poverty in their own country.

Gloo Networks appoints Vivendi’s Arnaud de Puyfontaine as Non-Executive Chairman

London, 15 December 2015 - The Board of Gloo Networks plc, a technology company established to acquire and operate companies in the media sector, is pleased to announce the appointment of Arnaud de Puyfontaine, as Non-Executive Chairman of the Company, effective immediately.

Mr de Puyfontaine is Chief Executive of Vivendi, the French media group. He is also a Non-Executive Director of Schibsted, a Scandinavian media group.

Along with the other Directors, he will be responsible for the overall management and strategic direction of Gloo. His extensive experience of media (and especially digital media) will be key to the successful implementation of the Company’s strategy.

Rebecca Miskin, Gloo Chief Executive Officer said: “Arnaud’s vision and strategic thinking will be of enormous benefit to Gloo as we execute our strategy. He is one of the leading figures in the global media industry and we’re delighted to have secured someone of his calibre to our Board. He will bring a tremendous depth of insight and experience into the boardroom.”

Arnaud de Puyfontaine said: “I am delighted to be joining Gloo Networks at this critical stage in the company’s development, and when the structural changes in the media industry are generating a wealth of opportunities. Rebecca and her team have the energy, skills and experience to transform businesses and create real, sustainable value for Gloo’s shareholders.”

Global organization Blue to independently test and share smart city solutions

Blue City Solutions ("Blue"), the global coalition that helps improve people’s lives by testing, sharing, and implementing the best smart city solutions, officially launched at COP21 in Paris.

“Right now, every city in the world is fighting its own battle when it comes to procuring and implementing complex smart city systems. Blue assists cities in defining their technology needs while speeding the adoption of economically, environmentally and socially sustainable solutions,” said Blue City Solutions’ co-founder Michiel Frackers.

"Running a city is difficult enough," said Amsterdam CTO Ger Baron. "Cities and utilities welcome Blue, which supports independent testing and implementing of the best solutions from around the world. We look forward to sharing our best practices with other cities and learning about theirs under the auspices of Blue."

Frackers said: "There is a global need for an open and transparent marketplace where cities and utilities can connect with innovative solution suppliers. Blue will offer that open platform."

Blue aims to test at least 100 solutions per year. It will work with The Global City Teams Challenge – the National Institute for Standards and Technology (NIST) initiative designed to advance the deployment of Internet of Things (IoT) technologies in urban environments - to identify the best solutions to be scaled globally.

Blue is a non-profit, international entity that initially operates in Europe, Asia and the Americas with offices in Amsterdam, Singapore and Washington DC. Its funding comes from private sources, government grants and test service fees.