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

San Francisco and Cupertino, Calif., September 13, 2022 (GLOBE NEWSWIRE) — Ovenue Inc., a leading provider of artificial intelligence (AI) and blockchain technology solutions for real-world asset valuation, tokenization, and funding for B2B and financial institutions, today announced a far-reaching partnership with Amberoon Inc., the No-code Risk , benefits and wealth management solutions for banks and credit unions to create a wide range of products for the financial services industry. The alliance aims 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 accuracy of asset valuation, tokenization and monetization processes for financial instruments, particularly loan portfolios. The company will continue to transform the financial services industry, creating efficient blockchain-based marketplaces for wealth transactions and monetization. With the new offerings, asset owners have the ability to convert a variety of financial assets, including loans, into asset-backed digital products that can be licensed, sold and collateralized through a proprietary and comprehensive asset valuation, tokenization and monetization platform.

In 2022, Ovenue launched an AI and blockchain-enabled valuation and funding infrastructure with over $400M in Tokenized Assets Valued (TAV). These included franchise agreements, brands, real estate portfolios and life science patents. The platform now features an asset valuation and tokenization layer, an asset-backed non-fungible token (NFT) marketplace for transactions, and a financial protocol for borrowing and lending against those assets.

“Our goal is to collaborate with other innovators bringing new technologies to the financial services sector, and Amberoon is clearly a star in this space,” said Ram Shanmugam, CEO and co-founder of Ovenue Inc. “By collaborating on the development of AI and Web3-related products and services, we can increase the valuation and monetization of financial assets by increasing trust, eliminating friction in multi-party transactions, improving data management and speeding up 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 fruitful partnership with Amberoon as we drive change in the financial services industry.”

“We’re building on the foundation 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 – smaller banks and credit unions that long neglected by the technology sector,” 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-based solutions to a broad portfolio of efficient solutions that best match industry-specific priorities.”

About Ovenue Inc.

Ovenue is an AI and blockchain-based Valuation, Tokenization, and Monetization as a Service (VTMaaS) technology company that provides asset owners and corporations with an end-to-end solution to value, tokenize, and monetize their real-world assets. Ovenue’s Open API protocol connects these assets to liquidity pools, enabling borrowing and lending against collateralized real assets.

About Amberoon Inc.

Amberoon provides state-of-the-art risk management, performance management and wealth management solutions for banks and credit unions. Amberoon solutions leverage AI/ML advances with a no-code SaaS model and a risk-based approach within an agile compliance framework to reduce operational risk from financial crime.

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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 are identifiable by the use of words such as “will,” “intend,” “expect,” or variations (including negative variations) of such words and expressions, or indicate that specific actions, events or Results “may”, “could”, “would”, “could” or “will” occur, occur or be achieved. Such 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 as of certain dates or at all and could differ materially due to known and unknown risk factors and uncertainties affecting the Company, including risks related to the financial technology and securities industries. economic factors, regulatory factors, stock markets generally and risks related to 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 actions, events or results to differ materially expected. estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to publicly update or revise any forward-looking statements, 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