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Hui Ying Financial Holdings Corp. Reports Unaudited Third Quarter 2017 Financial Results

Revenues increased by 102% to $14.28 million with loans facilitated through platform growing 73% to RMB 2.6 billion

SHANGHAI, Nov. 14, 2017 /PRNewswire/ -- Hui Ying Financial Holdings Corp. (OTCQB: SFHD) ("Hui Ying" or the "Company"), a leading online financial credit facility solution provider servicing Small-to-Medium Enterprises ("SMEs") and individual borrowers in China, today announced its financial results for the three and nine months ended September 30, 2017.

Third Quarter 2017 Highlights


For the Three Months Ended September 30,

($ millions, except per share data)

2017


2016


% Change

Revenues

$           14.28


$            7.07


101.9%

Loan origination service fee

$             8.39


$            5.11


64.3%

Loan repayment management fee

$             5.25


$            1.97


167.0%

Financing income from entrusted loans

$             0.64


$                  -


NM

Operating income

$             6.41


$            1.92


233.2%

Other income (expenses)

$           (0.24)


$            0.04


-717.6%

Net income

$             4.76


$            1.46


226.3%

EPS - diluted

$             0.06


$            0.02


179.0%

  • Total loans facilitated through our platform increased by 73.3% to RMB 2.6 billion for the third quarter of 2017, from RMB 1.5 billion for the same period of last year, as China's online peer-to-peer lending platform industry continued to grow significantly during the third quarter, coupled with the increased marketing campaign, promotion activities on our platform as well as increased brand awareness of our online marketplace.
  • Total revenues more than doubled to $14.28 million for the third quarter of 2017 from $7.07 million for the same period of last year, as a result of increase in loans facilitated through our platform and the contribution from the newly launched entrusted loan business. Revenues from loan origination service fee, loan repayment management fee and financing income from entrusted loans were $8.39 million, $5.25 million and $0.64 million, respectively, for the third quarter of 2017 compared to $5.11 million, $1.97 million and nil, respectively, for the same period of last year.
  • Net income was $4.76 million, or $0.06 per diluted share, for the third quarter of 2017, compared to $1.46 million, or $0.02 per diluted share, for the same period of last year.

Bodang Liu, Chairman and Chief Executive Officer of Hui Ying, commented, "Our business continued to accelerate during the third quarter with loans facilitated through our platform increasing by 73.3% to RMB 2.6 billion, leading to revenues growth of 101.9% to $14.28 million and net income growth of 226.3% to $4.76 million, both were record high. Our recently launched entrusted loan business already making an impact, contributing 4.5% of revenues in the third quarter."

"We also completed the transaction of acquiring 4.4538% equity interest in Shenzhen TouZhiJia Financial Information Service Co., Ltd. ("TouZhiJia") in September. We view this as a strategic investment and expect to benefit meaningfully from TouZhiJia's vertical peer-to-peer lending search engine, www.touzhijia.com, through this strategic investment. As the peer-to-peer lending platform industry continues to evolve amidst dramatically changing competitive landscape and regulatory environment, we are optimistic about our outlook and expect the strong momentum to continue in the next several quarters," concluded Mr. Liu.

Third Quarter 2017 Financial Results

Revenues

For third quarter of 2017, total revenues increased by $7.21 million, or 101.9%, to $14.28 million from $7.07 million for the same period of last year. The increase of total revenues was mainly attributable to the increase in the volume of loans facilitated through our platform as well as financing income generated through our entrusted loan business which we launched in June 2017 and contributed 4.5% of total revenues in the third quarter this year. The total loan volume facilitated through our platform increased by 73.3% to RMB 2.6 billion for the third quarter of 2017 from RMB 1.5 billion for the same period of last year.

The loan origination service fee increased by $3.29 million, or 64.3%, to $8.39 million for the third quarter of 2017 from $5.11 million for the same period of last year. The loan repayment management fee increased by $3.29 million, or 167.0%, to $5.25 million for the third quarter of 2017 from $1.97 million for the same period of last year. The financing income from entrusted loans were $0.64 million for the third quarter of 2017, compared to $nil for the same period of last year. The loan origination service fee, loan repayment management fee, and financing income from entrusted loans accounted for 58.8%, 36.8% and 4.5%, respectively, of total revenues for the third quarter of 2017, compared to 72.2%, 27.8% and nil, respectively, for the same period of last year. The change is due to the shift in structure of our loan products towards longer duration loans. Since our loan repayment management fee is based on a certain percentage of the borrowing times duration of a loan, the more loans with longer terms, the more loan repayment management fees we generate. We expect this trend will continue as the industry becomes more regulated and investors are getting more comfortable investing in loans with longer terms. We will continue to adjust our loan product offerings accordingly.

Operating Expenses

Operating expenses increased by $2.72 million, or 52.9%, to $7.88 million for the third quarter of 2017 from $5.15 million for the same period of last year. Sales and marketing expenses increased by $1.88 million, or 42.0%, to $6.37 million for the third quarter of 2017 from $4.49 million for the same period of last year. The increase in sales and marketing expenses was associated with sales and marketing efforts and promotion activities that led to higher volume of loans facilitated through our platform. General and administrative expenses increased $0.85 million, or 161.3%, to $1.38 million for the third quarter of 2017 from $0.53 million for the same period of last year, primarily due to expenses related to public company listing on the OTCQB.

Operating Income

Operating income increased by $4.48 million, or 233.2%, to $6.41 million for the third quarter of 2017 from $1.92 million for the same period of last year. The increase in operating income was primarily driven by increase in total revenues and partially offset by increase in operating expenses. Operating margin was 44.9% for the third quarter of 2017, compared to 27.2% for the same period of last year.

Income before Income Taxes

Total other expense, including interest income, interest expenses and bank charges, realized gain on investments and others, was $0.24 million for the third quarter of 2017, compared to total other income of $0.04 million for the same period of last year. The change was primarily related to interest expense and bank changes.

Income before provision for income taxes increased by $4.20 million, or 214.2%, to $6.16 million for the third quarter of 2017 from $1.96 million for the same period of last year

Net Income

Provision for income taxes was $1.41 million for the third quarter of 2017, compared to $0.50 million for the same period of last year.

Net income increased by $3.30 million, or 226.3%, to $4.76 million for the third quarter of 2017 from $1.46 million for the same period of last year.

Earnings per Share

Basic and diluted earnings per share were $0.07 and $0.06, respectively, for the third quarter of 2017, compared to $0.02 and $0.02, respectively, for the same period of last year.

Nine Months Ended September 30, 2017 Financial Results


For the Nine Months Ended September 30,

($ millions, except per share data)

2017


2016


% Change

Revenues

$           32.97


$          18.38


79.4%

Loan origination service fee

$           20.04


$          13.26


51.2%

Loan repayment management fee

$           12.29


$            5.13


139.8%

Financing income from entrusted loans

$             0.64


$                  -


NM

Operating income

$           12.57


$            3.08


307.7%

Other income (expenses)

$           (0.00)


$            0.05


-103.9%

Net income

$             9.65


$            2.51


284.3%

EPS - diluted

$             0.13


$            0.04


247.8%

Revenues

For the nine months ended September 30, 2017, total revenues increased by $14.59 million, or 79.4%, to $32.97 million from $18.38 million for the same period of last year. The increase of total revenues was mainly attributable to the increase in the volume of loans facilitated through our platform as well as financing income generated through our entrusted loan business which we launched in June 2017 and contributed 1.9% of total revenues in the nine months ended September 30, 2017. The total loan volume facilitated through our platform increased by 61.5% to RMB 6.3 billion for the nine months ended September 30, 2017 from RMB 3.9 billion for the same period of last year.

The loan origination service fee increased by $6.78 million, or 51.2%, to $20.04 million for the nine months ended September 30, 2017 from $13.26 million for the same period of last year. The loan repayment management fee increased by $7.17 million, or 139.8%, to $12.29 million for the nine months ended September 30, 2017 from $5.13 million for the same period of last year. The financing income from entrusted loans were $0.64 million for the nine months ended September 30, 2017, compared to $nil for the same period of last year. The loan origination service fee, loan repayment management fee, and financing income from entrusted loans accounted for 60.8%, 37.3% and 1.9%, respectively, of total revenues for the nine months ended September 30, 2017, compared to 72.1%, 27.9% and nil, respectively, for the same period of last year. The change is due to the shift in structure of our loan products towards longer duration loans. Since our loan repayment management fee is based on a certain percentage of the borrowing times duration of a loan, the more loans with longer terms, the more loan repayment management fees we generate. We expect this trend will continue as the industry becomes more regulated and investors are getting more comfortable investing in loans with longer terms. We will continue to adjust our loan product offerings accordingly.

Operating Expenses

Operating expenses increased by $5.10 million, or 33.3%, to $20.40 million for the nine months ended September 30, 2017 from $15.30 million for the same period of last year. Sales and marketing expenses increased by $4.21 million, or 35.4%, to $16.10 million for the nine months ended September 30, 2017 from $11.89 million for the same period of last year. The increase in sales and marketing expenses was associated with sales and marketing efforts and promotion activities that led to higher volume of loans facilitated through our platform. General and administrative expenses increased $0.87 million, or 27.4%, to $4.03 million for the nine months ended September 30, 2017 from $3.16 million for the same period of last year, primarily due to expenses related to public company listing on the OTCQB.

Operating Income

Operating income increased by $9.49 million, or 307.7%, to $12.57 million for the nine months ended September 30, 2017 from $3.08 million for the same period of last year. The increase in operating income was primarily driven by increase in total revenues and partially offset by increase in operating expenses. Operating margin was 38.1% for the nine months ended September 30, 2017, compared to 16.8% for the same period of last year.

Income before Income Taxes

Total other expense, including interest income, interest expenses and bank charges, realized gain on investments and others, was $2,040 for the nine months ended September 30, 2017, compared to total other income of $51,680 for the same period of last year. The change was primarily related to the increase in interest expense and bank changes and partially offset by the increase in realized gain on investments and interest income.

Income before provision for income taxes increased by $9.43 million, or 300.9%, to $12.57 million for the nine months ended September 30, 2017 from $3.13 million for the same period of last year

Net Income

Provision for income taxes was $2.92 million for the nine months ended September 30, 2017, compared to $0.62 million for the same period of last year.

Net income increased by $7.14 million, or 284.3%, to $9.65 million for the nine months ended September 30, 2017 from $2.51 million for the same period of last year.

Earnings per Share

Basic and diluted earnings per share were $0.13 for the nine months ended September 30, 2017, compared to $0.04 for the same period of last year.

Loan Portfolio



For the Nine
Months Ended
September 30,
2017


For the Year
Ended
December 31,
2016


For the Year
Ended
December 31,
2015

Number of borrowers


1,444


1,067


571

Repeat borrower rate


21%


15%


9%








Number of investors


53,754


39,999


43,302

Repeat investor rate


56%


56%


42%








Number of loans


12,688


8,739


2,818

Value of loans ($ millions)


$956.6


$818.5


$513.0

Average loan amount ($)


75,516


93,658


182,039








Loans outstanding -EoP ($ millions)


$443.6


$246.1


$186.0

For the nine months ended September 30, 2017, the Company facilitated 12,688 loans with aggregate loan amount of $956.6 million. This compared to 8,739 loans with aggregate loan amount of $818.5 million for the year of 2016. For the nine months ended September 30, 2017, the company had 1,444 borrowers, of which 21% was repeated borrowers. This compared to 1,067 borrowers with 15% repeat borrower rate for the year of 2016. For the nine months ended September 30, 2017, the company had 53,754 investors, of which 56% was repeated investors. This compared to 39,999 investors with 56% repeat investor rate for the year of 2016.

For the nine months ended September 30, 2017, by guarantor type, pawn shops were the largest segment for us with 6,959 loans and aggregate loan amount of $648.0 million, followed by asset or investment management companies with 2,148 loans and aggregate loan amount of $56.5 million, and micro credit companies with 875 loans and aggregate loan amount of $97.2 million. Financial guarantee companies accounted for 476 loans with aggregate loan amount of $37.3 million while others accounted for 2,210 loans with aggregate loan amount of $117.6 million for the nine months ended September 30, 2017. The following table summarizes comparison of number of loans and loan amount for the nine months ended September 30, 2017 versus the years of 2016 and 2015.


Number of Loans


Value of Loans ($ millions)

Guarantor type

For the Nine
Months Ended
September 30,
2017


For the Year
Ended
December 31,
2016


For the Year
Ended
December 31,
2015


For the Nine
Months Ended
September 30,
2017


For the Year
Ended
December 31,
2016


For the Year
Ended
December 31,
2015

Pawn shops

6,959


6,152


1,489


$

648.0


$

572.3


$

323.4

Financing guarantee companies

476


351


17



37.3



46.2



1.9

Asset or investment management companies

2,148


1,143


-



56.5



71.8



-

Micro credit companies

875


837


308



97.2



111.6



100.5

Others

2,210


256


1,005



117.6



16.7



87.3

Total

12,668


8,739


2,818


$

956.6


$

818.5


$

513.0

As of September 30, 2017, we had outstanding loan balances of $443.6 million, compared to $246.1 million at the end of 2016.

Financial Condition

As of September 30, 2017, the Company had cash and cash equivalents of $12.94 million, compared to $8.56 million at the end of 2016. The cash held in private loan risk reserve accounts was $13.10 million and $7.30 million as of September 30, 2017 and December 31, 2016, respectively. Short term investments were $nil as of September 30, 2017, compared to $8.27 million at the end of 2016. As of September 30, 2017, we had $50.49 million in total current assets and $19.04 million in total current liabilities, representing a current ratio of 2.65. As of December 31, 2016, we had $19.99 million in total current assets and $9.05 million in total current liabilities, with a current ratio of 2.21.

Net cash provided by operating activities was $20.23 million for the nine months ended September 30, 2017, compared to $2.91 million for the same period of last year. Net cash used in investing activities was $29.58 million for the nine months ended September 30, 2017, compared to $0.04 million for the same period of last year. Net cash provided by financing activities was $13.28 for the nine months ended September 30, 2017, related to cash proceeds received from issuance of senior convertible promissory notes on June 30, 2017, compared to nil for the same period of last year.

Recent Developments

On September 29, 2017, the Company announced the change of its corporate name to Hui Ying Financial Holdings Corporation.

On September 7, 2017, the Company announced that Puhui Equity Investment Co., Ltd. ("Puhui"), a wholly owned subsidiary of the Company's variable interest entity -- Benefactum Alliance Business Consultant (Beijing) Co., Ltd., entered into a definitive share transfer agreement on September 1, 2017 to acquire a 4.4538% equity interest in Shenzhen TouZhiJia Financial Information Service Co., Ltd. ("TouZhiJia") from certain selling shareholders for an aggregate purchase price of RMB19,100,008 (approximately US$2.87 million). TouZhiJia's main businesses include vertical Peer-to-Peer ("P2P") search engine, private wealth management and secondary loan exchange services. TouZhiJia Financial, as a service provider, refers potential investors to the Company through online channel.

On August 14, 2017, the Company announced that FINRA has approved the effectiveness of a one (1) -for- five (5) reverse stock split (the "Reverse Split") of the Company's authorized and issued and outstanding shares of common stock, effective at the market open on August 7, 2017 under the symbol of "SFHDD". The symbol reverted back to "SFHD" after 20 business days. 

On July 7, 2017, the Company announced the launch of entrusted loan services (the "Services") with the engagement of Qingdao Weichuang Private Capital Management Co., Ltd. as the trustee of the Services at the launch. The Company also announced that it has entered into a series of entrusted loan contracts, pursuant to which the Company, as the trustor and provider of the funds, entrusted the trustee to grant entrusted loans in the aggregate principal amount of RMB 50 million to five SME borrowers.

On July 7, 2017, the Company announced the closing of its offering of $13,189,163.87 aggregate principal amount of senior convertible promissory notes, dated June 30, 2017, to certain investors in China.

About Hui Ying Financial Holdings Corporation

Hui Ying Financial Holdings Corporation, previously known as Sino Fortune Holding Corporation, is a leading online financial credit facility solution provider servicing under-served SME and individual borrowers in China. Through operating an electronic online financial platform, www.hyjf.com, the Company matches investors with SME and individual borrowers in China. The Company also sets aside risk reserve funds with the aim of limiting losses to investors from borrower defaults. In addition, the company provides investors with access to a liquid secondary market, giving them an opportunity to exit their investments before the underlying loans become due. For more information, please visit: ir.hyjf.com.

Forward-Looking Statements

This press release may contain projections or other forward-looking statements regarding future events or our future financial performance. All statements other than present and historical facts and conditions contained in this release, including any statements regarding our future results of operations and financial positions, business strategy, plans and our objectives for future operations, are forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). These statements are only predictions and reflect our current beliefs and expectations with respect to future events and are based on assumptions and subject to risk and uncertainties and subject to change at any time. We operate in a very competitive and rapidly changing environment. New risks emerge from time to time. Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements. Actual events or results may differ materially from those contained in the projections or forward-looking statements.

Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995.

For investors and media inquiries please contact:

At the Company:
Ede Yang
Email: [email protected]

Investor Relations:
Tony Tian, CFA
Weitian Group LLC
Email: [email protected]
Phone: +1-732-910-9692

 

 

 

HUI YING FINANCIAL HOLDINGS CORPORATION

(f/k/a SINO FORTUNE HOLDING CORPORATION AND SUBSIDIARIES)

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)



September 30,


December 31,


2017


2016

ASSETS






Current assets






Cash and cash equivalents

$

12,942,309


$

8,561,695

Short-term investments


-



8,274,306

Accounts receivable


572,440



281,038

Short-term loans receivable


35,312,326



-

Prepayments


587,237



2,078,926

Other receivables


1,079,850



792,849

Total current assets


50,494,162



19,988,814

Property and equipment - net


792,133



279,408

Investment in an equity investee


2,870,067



-

Intangible assets


15,004



17,745

Total assets

$

54,171,366


$

20,285,967







LIABILITIES AND STOCKHOLDERS' EQUITY






Current liabilities






Accounts payable and accrued liabilities

$

470,282


$

227,895

Taxes payable


4,002,070



1,285,160

Deferred tax liability


-



16,673

Interest payable


348,252



-

Due to related party


601,538



-

Liabilities from risk reserve fund guarantee, without recourse to the Company


13,101,290



7,297,123

Other payables


519,235



219,911

Total current liabilities


19,042,667



9,046,762







Convertible notes payable


13,189,164



Total long-term liabilities


13,189,164



Total liabilities


32,231,831



9,046,762







Stockholders' equity






Preferred stock, $0.001 par value, 10,000,000 shares authorized, none issued


-



-

Common stock, $0.001 par value, 598,000,000 shares authorized, 72,364,178 shares issued and outstanding as of September 30, 2017 and December 31, 2016


72,364



72,364

Additional paid-in capital


9,527,326



9,527,326

Retained earnings


11,955,875



2,310,480

Accumulated other comprehensive loss


383,970



(670,965

Total stockholders' equity


21,939,535



11,239,205

Total liabilities and stockholders' equity

$

54,171,366


$

20,285,967

 

 

 

HUI YING FINANCIAL HOLDINGS CORPORATION

(f/k/a SINO FORTUNE HOLDING CORPORATION AND SUBSIDIARIES)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

(Unaudited)



For The Three Months
Ended September 30,


For The Nine Months Ended
September 30,


2017


2016


2017


2016













Revenues:












Financing income from entrusted loans

$

636,449


$

-


$

636,449


$

-

Loan facilitation and repayment management fees and others


13,646,313



7,074,552



32,332,058



18,382,099

Total revenue


14,282,762



7,074,552



32,968,507



18,382,099













Operating expenses












Selling, general and administrative expenses


7,753,250



5,016,297



20,134,827



15,057,766

Business and related taxes


58,117



82,028



123,657



122,573

Depreciation


64,872



53,629



141,330



119,176

Total operating expenses


7,876,239



5,151,954



20,399,814



15,299,515













Income from Operations


6,406,523



1,922,598



12,568,693



3,082,584













Other income (expenses)












Interest income


27,237



23,657



183,265



83,182

Interest expense and bank charges


(339,300)



(1,486)



(489,840)



(6,312)

Realized gain on investments


93,752



-



310,793



-

Other


(23,702)



17,016



(6,258)



(25,190)

Total other income (expense)


(242,013)



39,187



(2,040)



51,680













Income before provision for income taxes


6,164,510



1,961,785



12,566,653



3,134,264

Provision for income taxes


(1,405,154)



(503,232)



(2,921,258)



(624,721)

Net income


4,759,356



1,458,553



9,645,395



2,509,543













Other comprehensive income












Net unrealized gain on investments (net of tax effect)


(50,018)



-



(50,018)



-

Foreign currency translation adjustment


614,489



(24,158)



1,104,953



(45,326)

Total comprehensive income

$

5,323,827


$

1,434,395


$

10,700,330


$

2,464,217













Net income per common share












Basic

$

0.07


$

0.02


$

0.13


$

0.04

Diluted

$

0.06


$

0.02


$

0.13


$

0.04

Weighted average number of common shares outstanding












Basic


72,364,178



67,500,000



72,364,178



67,500,000

Diluted


78,958,760



67,500,000



74,594,599



67,500,000

  

 

 

HUI YING FINANCIAL HOLDINGS CORPORATION

(f/k/a SINO FORTUNE HOLDING CORPORATION AND SUBSIDIARIES)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)




For The Nine Months Ended
September 30,


2017


2016

Cash flows from operating activities:






Net income

$

9,645,395


$

2,509,543

Adjustments to reconcile net income to net cash provided by
 operating activities:






Depreciation


141,330



119,176

Accrued interest for convertible notes


348,252



-

Changes in operating assets and liabilities:

    (increase) decrease:






    Accounts receivable


(272,943)



(752)

    Prepayments


1,547,000



(720,051)

    Other receivables


(246,844)



(802,900)

    Increase (decrease):

    Accounts payable and accrued liabilities


228,775



(792,708)

    Taxes payable


2,601,664



474,045

    Due to related party


588,140



-

    Liabilities from risk reserve fund guarantee


5,364,095



2,122,641

    Other payables


283,324



-

Net cash provided by operating activities


20,228,188



2,908,994







Cash flows from investing activities:






  Purchases of property and equipment


(627,301)



(17,886)

  Purchase of intangible asset


-



(18,850)

  Purchase of short-term investments


(7,345,919)



-

  Proceeds from disposal of short-term investments


15,720,267



-

  Disbursements for short-term entrusted loans made


(34,525,821)




  Investment in an equity investee


(2,806,142)



-

Net cash used in investing activities


(29,584,916)



(36,736)







Cash flows from financing activities:






  Proceeds from issuance of convertible notes


13,275,151



-

Net cash provided by financing activities


13,275,151



-







Effect of exchange rate change


462,191



(191,649)







Cash and cash equivalents:






  Net increase


4,380,614



2,680,609

  Balance at beginning of period


8,561,695



5,712,741

  Balance at end of period

$

12,942,309


$

8,393,350







Supplemental Disclosures of Cash flow Information:






  Cash paid for income taxes

$

415,719


$

-

 

 

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SOURCE Hui Ying Financial Holdings Corporation

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In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, provided a fun and simple way to introduce Machine Leaning to anyone and everyone. He solved a machine learning problem and demonstrated an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intelligence and B...
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software. They hope to capture value from emerging technologies such as IoT, SDN, and AI. Ultimately, irrespective of the vertical, it is about deriving value from independent software applications participating in an ecosystem as one comprehensive solution. In his session at @ThingsExpo, Kausik Sridhar, founder and CTO of Pulzze Systems, discussed how given the magnitude of today's application ...
DevOps promotes continuous improvement through a culture of collaboration. But in real terms, how do you: Integrate activities across diverse teams and services? Make objective decisions with system-wide visibility? Use feedback loops to enable learning and improvement? With technology insights and real-world examples, in his general session at @DevOpsSummit, at 21st Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, explored how leading organizations use data-driven DevOps to clos...
The 22nd International Cloud Expo | 1st DXWorld Expo has announced that its Call for Papers is open. Cloud Expo | DXWorld Expo, to be held June 5-7, 2018, at the Javits Center in New York, NY, brings together Cloud Computing, Digital Transformation, Big Data, Internet of Things, DevOps, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
Nordstrom is transforming the way that they do business and the cloud is the key to enabling speed and hyper personalized customer experiences. In his session at 21st Cloud Expo, Ken Schow, VP of Engineering at Nordstrom, discussed some of the key learnings and common pitfalls of large enterprises moving to the cloud. This includes strategies around choosing a cloud provider(s), architecture, and lessons learned. In addition, he covered some of the best practices for structured team migration an...
Mobile device usage has increased exponentially during the past several years, as consumers rely on handhelds for everything from news and weather to banking and purchases. What can we expect in the next few years? The way in which we interact with our devices will fundamentally change, as businesses leverage Artificial Intelligence. We already see this taking shape as businesses leverage AI for cost savings and customer responsiveness. This trend will continue, as AI is used for more sophistica...
Recently, REAN Cloud built a digital concierge for a North Carolina hospital that had observed that most patient call button questions were repetitive. In addition, the paper-based process used to measure patient health metrics was laborious, not in real-time and sometimes error-prone. In their session at 21st Cloud Expo, Sean Finnerty, Executive Director, Practice Lead, Health Care & Life Science at REAN Cloud, and Dr. S.P.T. Krishnan, Principal Architect at REAN Cloud, discussed how they built...
The “Digital Era” is forcing us to engage with new methods to build, operate and maintain applications. This transformation also implies an evolution to more and more intelligent applications to better engage with the customers, while creating significant market differentiators. In both cases, the cloud has become a key enabler to embrace this digital revolution. So, moving to the cloud is no longer the question; the new questions are HOW and WHEN. To make this equation even more complex, most ...
As you move to the cloud, your network should be efficient, secure, and easy to manage. An enterprise adopting a hybrid or public cloud needs systems and tools that provide: Agility: ability to deliver applications and services faster, even in complex hybrid environments Easier manageability: enable reliable connectivity with complete oversight as the data center network evolves Greater efficiency: eliminate wasted effort while reducing errors and optimize asset utilization Security: imple...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, examined the regulations and provided insight on how it affects technology, challenges the established rules and will usher in new levels of diligence arou...
The past few years have brought a sea change in the way applications are architected, developed, and consumed—increasing both the complexity of testing and the business impact of software failures. How can software testing professionals keep pace with modern application delivery, given the trends that impact both architectures (cloud, microservices, and APIs) and processes (DevOps, agile, and continuous delivery)? This is where continuous testing comes in. D
Modern software design has fundamentally changed how we manage applications, causing many to turn to containers as the new virtual machine for resource management. As container adoption grows beyond stateless applications to stateful workloads, the need for persistent storage is foundational - something customers routinely cite as a top pain point. In his session at @DevOpsSummit at 21st Cloud Expo, Bill Borsari, Head of Systems Engineering at Datera, explored how organizations can reap the bene...
Digital transformation is about embracing digital technologies into a company's culture to better connect with its customers, automate processes, create better tools, enter new markets, etc. Such a transformation requires continuous orchestration across teams and an environment based on open collaboration and daily experiments. In his session at 21st Cloud Expo, Alex Casalboni, Technical (Cloud) Evangelist at Cloud Academy, explored and discussed the most urgent unsolved challenges to achieve f...
The dynamic nature of the cloud means that change is a constant when it comes to modern cloud-based infrastructure. Delivering modern applications to end users, therefore, is a constantly shifting challenge. Delivery automation helps IT Ops teams ensure that apps are providing an optimal end user experience over hybrid-cloud and multi-cloud environments, no matter what the current state of the infrastructure is. To employ a delivery automation strategy that reflects your business rules, making r...