Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Banks don't tend to offer insurance products either, they also white label via established providers. The same for consultancies and outsourcing partners - these are all established companies with a track record of delivery.
You've explained the traditional funding model - I get the premise behind that, I had a fair sum invested based on my understanding - it's the WL aspect I'm struggling with.
As part of BPM's due diligence, they're going to look at a business with a product that hasn't got off the ground in 4+ years, that has numerous critics and a CEO who has been - to be kind - economical with the truth, and they're going to lend their considerable weight to white labelling this product? Is this what we're expected to believe now?
Just to add Banoco BPM will no doubt badge WL IM as their own lending product to clients with the actual behind the scenes service delivery outsourced to SYME.
Does it really matter if SYME's name appears on the new lending product...not really I'm sure banks use thousands of different suppliers including software support that they don't advertise the use of for confidentiality and commercial reasons..normal stuff really!
Fiisch
Banks don't buy and hold inventory its not within their remit to do regulatory and governance requirements hence you need a third party to provide this service.
A sale and purchase of inventory which can be monetarised has to occur risk needs to be managed through a spread of investors investing in electronic tokens through a virtual trading platform.
Specic software needs to be deployed to deliver an end to end solution to capture the buy and sell back of inventory as well as the monetisation through bank funding and asset managed funds. As well as providing pricing and credit risk functionality as investment tokens are tradeable on the open market to other third parties hence more regulation to be met here.
There are numerous legal, tax, accounting, audit, regulatory hurdles to overcome which makes what appears to be a simple process very complex.
Multiple jurisdictions add further legal abd regulatory challenges.
Ergo banks can't enage in WL IM.
Hence your analysis and hence comparisons are fundamentally flawed.
Wise words Fiisch, you make sense.
No doubt the positive posters will see different.
Another major concern - and my reason for selling - is WL and BancoBPM being heralded as the next transformational activity for SYME which will finally start to generate revenue. WL in SYME's position makes zero sense.
Granted, I am not a banking expert, but I've been around the insurance market for a long time and worked on setting up a WL arrangement. An example would be Allianz and BMW - BMW want to sell cars and offer their customers a branded insurance policy and a "free" 7-day drive away cover so customers can collect their cars off the forecourt.
BMW offer their customer base, their branding and their reputation to the WL arrangement.
Allianz bring years of expertise, a solid reputation and provide BMW comfort that they're not going to upset their customers.
It works to an extent, as some particularly brand loyal customers will pay a bit extra to have their insurance policy on BMW paper, safe in their knowledge their brand new £60k M340 wagon has suitable cover. As there are two pigs at the trough, so to speak, the pricing is not especially competitive - how many of you have bought manufacturer branded car insurance after buying a new car from a main dealer?
Another, more successful example is Covea (formerly Provident amongst others) and John Lewis. Covea, not a particularly well known name outside of insurance, but a long standing trusted insurer leverage John Lewis' existing customer base and brand to sell insurance.
In both cases, these WL arrangements widen White-Labeller's product offering without having to invest in staff, systems and resources to deliver the product. John Lewis use Covea people, systems and product, but the end customer gets their documentation on John Lewis paper. Both Covea and Allianz are trusted long-standing insurers with great reputations - in both cases, the white labeller can be confident their reputation is intact because the provider has a long-standing reputation for delivery under their own branding and via other distribution models.
What do SYME actually bring to BancoBPM that BPM can't do themselves? Are we to believe the platform is so especially innovative BPM could not build it themselves? Are we to believe monetisation is so complex than BancoBPM's infinite resources cannot deliver the same/something similar? Why would BancoBPM trust their name to a relative unknown - a CEO that has a track record for failure, scores of unhappy investors and the company has struggled to get the product off the ground under their own name?
Does this kind of WL arrangement, where a banking product is white-labelled by a relative unknown with limited to no history of selling this product under their own name or any other distribution model, exist anywhere else in the banking world?
WL was always for me a long-term revenue stream once SYME had established themselves in their own right. I struggle to see how WL will take off in isolation.
…… come on AZ! Give us some good news is over half way through April now.
29th Feb - SYME currently expect the contracts to be completed by the end of March 2024 and will update the market accordingly
5th April - As of today, SYME, the working group and the external legal teams are finalising the review of the commercial contracts and further meetings are planned in the month of April
TwoGood. You seem to know an awful lot about bank processes. Have you worked for a bank before?
Not really how the stock market works juno
"So it's not a cheese board for cheesing!"
😂 I nearly choked on my bacon 🥓 😂
At a share price that is less than 33rd of a penny, and taking into consideration, Tradeflow's valuation of £31m of which we still hold 20-odd %, we're pretty much there already...
Any one clicking on to my links automatically buys 50 billion SYME shares!
Bob
"It's a discussion board for discussing!"
So it's not a cheese board for cheesing!
Ha! LoLS 2GTD.. well worth a look 😂
That would be the same IQ as nobbygnome!
After all the messages, we should be down to zero.
I'm telling you it's not a daylight robbery here!
htTps://youtu.be/z7Yua01_Qxg?si=SatJneWqCzonhnnw
And now for something to lighten the mood here!
htTps://youtu.be/z7Yua01_Qxg?si=SatJneWqCzonhnnw
It's a discussion board for discussing!
If I go to banco and they acknowledge what I'm saying (highly doubt they would respond)then I'm shafting every single shareholders last chance of getting any money back.
My MO is to get acknowledgement for all the mental stuff that's happened to date, not to ruin people's last bit of hope.
Yes I was scrapping the barrel I was going to refer to Al Capone's recent appointment as investor relations director but he's dead and that doesn't count!
"Moaning"? ...oooh that was low blow 2GTD , a cheap shot if ever i saw one! 😆
Bob
I don't need to answer anything if you have doubts over the business and directors legitimacy why not contact Banoco BPM and 'whistle blow' you have every right to if your suspicious over business transactions or directors dealings.
Moaning here won't achieve much I can assure you and nothing you state is new as information or allegations made.
No, I've answered your question.
I have contacted various people over the years.
If this doesn't happen soon I'll then contact BPM.
But they aren't the ones who can answer anything related to symes operational tactics.
Like the rest of symes partners, I highly doubt they will acknowledge my questions.
You haven't answered anything
Bob
No deflection on my part actually you are the one deflecting.
I've explained my concerns to AZ, to quadrivo (4 times), to storm harbour (before the went bust)
Again, You deflect because there are no plausible legitimate reasons for 90% of what AZ has done.
Have you explained your concerns and allegations to BANOCO BPM?