Ovenue and Amberoon Form Strategic Partnership to Develop Artificial Intelligence and Blockchain-Based Technologies for Asset Valuation, Tokenization and Monetization

San Francisco and Cupertino, Calif., Sept. 13, 2022 (GLOBE NEWSWIRE) — Ovenu Inc.a leading provider of artificial intelligence (AI) and blockchain technology solutions for the valuation, tokenization and financing of real assets for B2B and financial institutions, today announced a large-scale partnership wingspan with Amberoon Inc., which develops no-code risk, performance and asset management solutions for banks and credit unions, to create a wide range of products for the financial services industry. The alliance is designed to accelerate the adoption of AI and blockchain technologies in this critical sector.

Amberoon will leverage Ovenue’s predictive analytics and asset management capabilities to improve the fidelity of asset pricing, tokenization and monetization processes of financial instruments, particularly loan portfolios. Bringing even more changes to the financial services industry, the company will create efficient blockchain-based marketplaces for asset transactions and monetization. With the new offerings, asset owners will have the ability to transform a variety of financial assets, including loans, into asset-backed digital products that can be licensed, sold and collateralized through a proprietary platform and comprehensive asset valuation, tokenization and monetization. .

In 2022, Ovenue spear an AI- and blockchain-enabled valuation and funding infrastructure with over $400 million in tokenized assets (TAV). This included franchise agreements, trademarks, real estate portfolios and life sciences patents. The platform now includes an asset pricing and tokenization layer, an asset-backed non-fungible token (NFT) market for transactions, and a funding protocol for borrowing and lending against those assets.

“Our goal is to team up with other innovators bringing new technologies to the financial services industry, and Amberoon is clearly a star in this space,” said Ram Shanmugam, CEO and co-founder of Ovenue Inc. “Working together to develop AI and Web3-related products and services, we can drive the valuation and monetization of financial assets by building trust, removing friction from multi-party transactions, improving data management and accelerating transactions. This is what optimal, AI and blockchain technologies can achieve, and we are proud to be at the forefront of this transformation. We look forward to a long and successful partnership with Amberoon that drives change. in the financial services industry.

“We believe that the cloud IS the bank, and that’s why our mission has always been to bring no-code technology modernization to the corner of the industry that needs it most: small banks and credit unions long overlooked by technology,” said Shirish Netke, CEO and Founder of Amberoon Inc. “We are excited to partner with Ovenue to bring the benefits of blockchain technology and Web3 solutions to a broad portfolio of solutions. that best meet specific industry priorities.

About Ovenue Inc.

Ovenue is an artificial intelligence and blockchain-based valuation, tokenization and monetization-as-a-service (VTMaaS) technology company that provides asset owners and businesses with an end-to-end solution to value, tokenize and monetize their real-world assets. Ovenue’s open-API protocol connects these assets to pools of liquidity, allowing borrowing and lending against collateralized real assets.

About Amberoon Inc.

Amberoon provides industry-leading risk management, performance management and asset management solutions for banks and credit unions. Amberoon solutions leverage advances in AI/ML with a no-code SaaS model and risk-based approach within an Agile compliance framework to reduce operational risk from financial crimes.

Further information

This press release does not constitute an offer to sell or the solicitation of an offer to
buy securities in any jurisdiction.

Notice Regarding Forward-Looking Statements

This press release contains forward-looking statements regarding the Company and its respective businesses, which may include, but are not limited to, statements regarding the Company’s proposed business plan and other statements. Often, but not always, forward-looking statements can be identified by the use of words such as “will”, “intend”, “expect”, or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “could”, “could”, “would”, “could” or “would” be taken, occur or be achieved. These statements are based on the current expectations of the Company’s management. The forward-looking events and circumstances discussed in this press release may not occur on certain specific dates or may not occur at all and may differ materially due to known and unknown risk factors and uncertainties affecting the Company, including risks relating to the financial technology and securities industries, economic factors, regulatory factors, stock markets generally, and risks associated with growth and competition. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors that cause the actions, events or results differ from those anticipated, estimated or expected. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date they are made and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether whether as a result of new information, future events, or otherwise.

CONTACT: Ram Shanmugam CEO and Co-Founder Ovenue Inc. San Francisco, CA, USA Tel: +1 (866) 327-2922 Email: [email protected] Website: www.Ovenue.com Digs Majumder Amberoon Inc. Cupertino, California, USA Tel: +1 (646) 896-4427 Email: [email protected] Website: www.Amberoon.com

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