The Chemours Company (NYSE: CC), a global leading chemistry company with positions in Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials and Chemical Solutions, reported April 15th that it plans to achieve net zero greenhouse gas emissions by 2050. Chemours is working to complete a 60% overall reduction of operations that cause greenhouse gas emissions by 2030, setting the firm on the path to net zero greenhouse gas emissions by 2050. The company also reported the designation of Sheryl Telford as Chief Sustainability Officer to head its end-to-end sustainability plans.
Chemours president and chief executive officer Mark Vergnano recently announced that, “Businesses like Chemours have an opportunity to help build a more sustainable future. Our more ambitious greenhouse gas emission goal, along with our other Corporate Responsibility Commitments, reflect our strategy to grow our business responsibly and sustainably. It’s good for business and good for the planet.”
Chemours is using a natural approach to resolve its direct emissions from operations (Scope 1) and indirect emissions from electrical and other energy source outputs (Scope 2). To solve Scope 1 emissions, the firm will carry on enhancing their emissions control technologies at its production sites and bring about more energy efficiency improvements across its operations. This will in turn reduce the volume of greenhouse gas emissions and energy use. To address Scope 2 emissions, Chemours will increase the amount of electricity and other energy generated from renewable sources.
The firm has also begun the process of specifying goals related to indirect emissions caused by its value chain (Scope 3) and will report on them at a later date. To reach net zero greenhouse gas emissions this will need massive amounts of collaboration in both the public and private sectors to bring about technological innovation and government ordinances that pave the way and incentivize the transition to an emission-free economy.
Fantasy Sports Betting with Data-Infused AML Platforms
DraftKings (NASDAQ: DKNG) is a customer-centric fantasy sports betting platform. They actively invest in technology to create a safe and secure gaming environment.
Recently, growth on their platform Monthly Unique Players (MUPs) has increased by 114% in their Q1 results which shows the strength that this new way of sports betting is becoming prominent in many people’s lives. Also in Q1, they’ve well-executed launches of their mobile sports betting platform in Michigan and Virginia which more specifically drove an incredible amount of user growth.
Preventing (AML) Anti-Money Laundering with Data
With all of these new customers, it becomes increasingly more difficult for fantasy sports gambling platforms to track their customers to authenticate their identity, but that’s why DraftKings has a different approach.
DraftKings has to enact anti-money laundering (AML) and Know Your Customer (KYC) procedures to monitor its users. These services need to be fast and easy for the customer, hence why DraftKings has implemented security to gain quick authentication using data-driven verification steps.
First, DraftKings will acquire the customers’ names, ages, and the final four digits of their Social Security numbers. Once that process is complete, their system will turn to a KYC aggregator to validify the data by pulling credentials from several databases. Cross-referencing from multiple databases decreases the chance of a mistake since outdated or inaccurate information can be visible.
Compared to a few years ago, DraftKings was only using one supplier of data, this made their customers have to manually upload documents to fill in the gaps of information. It’s a painful process for many, and DraftKings knows that.
Hence, they now continuously use multiple verification vendors to authenticate customer data, which eases the process for both DraftKings and their users. The key is to continue to make more simple systems up-front for users, and more complicated security in the back-end.
Recognizing the Key Issues
DraftKings has witnessed sign-up actions from underage users, and fraudsters using other identity credentials. They combat these actions by setting up real-time alerts to recognize, flag, and prevent account creation. However, if there’s an instance where this becomes surpassed there are other security systems put in place.
If a user acts suspicious, such as placing a bet of a few dollars, then all of sudden placing a few thousand dollars on the next, that’s carefully monitored to ensure that there’s no addiction or unverified credentials from the user.
They have worked extremely hard to provide a rapid response to signs of misuse or abuse through AML and KYC processes, and have built an engaging platform for millions of their users.
The Key Takeaway
It’s become vastly complicated to get through these complicated procedures with unverifiable information on their fantasy sports platform due to DraftKings’ hard work. This will decrease the odds for them greatly of ever having to deal with large amounts of fraud on their platform. As online sports and fantasy sports betting becomes more prevalent, these extra steps are necessary to build a fun, safe, and secure platform for all users.
This is why over 5 million people have played on their platform, and that number is continuing to grow over time as more people become introduced to the world of fantasy sports. DraftKings has competitive advantages like no other when it comes to the underlying technology of their services, and the proactive protective measures in the back-end of their systems.
Overall, DraftKings is a phenomenal company that exceeds many people’s expectations because of what they strive to be. Enabling a platform where anyone can join, win big cash prizes, play against others at their skill level, and even play private contests between your friends. It’s clear DraftKings has a positive long-term objective.
Sources:
https://draftkings.gcs-web.com/corporate-profile
https://draftkings.gcs-web.com/news-releases/news-release-details/draftkings-reports-first-quart er-2021-results-and-raises-2021
https://www.pymnts.com/digital-onboarding/2019/draftkings-sports-betting-identity-verification-se curity/
https://www.draftkings.com/?wpsrc=Organic%20Search&wpaffn=Google&wpkw=https%3A%2F %2Fwww.draftkings.com%2F
Inseego (NASDAQ: INSG) brings new applications to life through the world of 5G. They have led the way in wireless innovation for the last 25 years by creating new devices including the world’s first mobile hotspots. However these mobile hotspots are like nothing seen before, they have an unprecedented amount of capabilities for a variety of use cases which wouldn’t commonly be found anywhere else.
5G is a lot more than bringing people around the world faster smartphones, it actually brings real world applications to life by transferring data across vast areas fast and efficiently. With these technologies Inseego is able to maintain an extremely diversified client list which is broadened across multiple industries. These industries include the Government, Enterprise, Consumer, Education, and more.
Unimaginable Use Cases
There is unprecedented demand for mobile hotspots across the world and it’s only accelerating over time. The lockdowns worldwide in 2020 caused a huge surge in demand, many of these demands came from students who needed access to fast internet connections for remote learning, or corporations needing to find a way to have an effective team in a virtual setting. Poor internet connection is many peoples worst enemy, it’s a frustrating situation when you can’t connect to a call or hear someone in a virtual business meeting. Inseego solves these problems entirely with their products. This has undoubtedly accelerated the growth of Inseego’s product line and will continue to do so.
Inseego presents unimaginable opportunities with their low latency and best in class data speeds which powers groundbreaking data gateways to augmented reality and virtual reality users, first responders, mobile workers, remote offices, high-speed streaming services, and gaming platforms. There is no shortage of what Inseego can bring to the table this decade.
They offer their products primarily through the internet and cell service providers as a way to intrigue potential customers where they might have been previously hard to reach in some areas.
The Future of Inseego
In 2020 Inseego managed to grow their revenues by almost 43% compared to 2019. This brought them 313.8M of revenue as a result of their 5G mobile hotspots being in incredibly high demand all throughout the year. This growth is phenomenal, and there’s no signs of slowing as the world continues to become more connected virtually worldwide through the internet.
2021 and beyond will bring large opportunities to Inseego as they expand and grow their business. There’s an absurd amount of applications 5G mobile hotspots can be used for, so there’s no doubt Inseego will always be bringing in new customers over time.
As the world becomes increasingly powered by big data programs and applications which need high speed 5G connectivity, Inseego will be there to take a chunk of that market whether it’s from business meetings or telehealth networks which need to talk to their patients. If you too think there is increasing demand for high speed connectivity, Inseego may be a good company to further research.
Sources:
https://inseego.com/products/mobile/mifi-m2000/
https://inseego.com/company/about-us/
https://finance.yahoo.com/quote/INSG?p=INSG
The Solution to Complex Insurance
Lemonade (NYSE: LMND) is a technology-driven insurance company that offers homeowners, renters, pet, and life insurance on their easily accessible platform.
They emphasize on making the insurance industry more accessible and affordable for many by bringing their customers low cost alternatives to traditionally high priced insurance models. They reduce the paperwork a customer would typically have to fill out, and instead let you file claims in minutes hassle free.
The Competitive Advantages and Benefits
Lemonade has an abundance of advantages. One of their key advantages is their easy to use online platform which utilizes machine learning algorithms. They have created a compelling experience for not only discovering what insurance you may need, but also creating an almost instant claim payment process.
Customers can rest assured knowing Lemonade has their back, and that there’s no loopholes they can get themself into that won’t be covered by their insurance package.
Most times when customers are choosing their insurance plans, they will talk to Lemonade’s AI and occasionally their human team.
When a customer files a claim, they then tell Lemonade what happened. Lemonade’s AI will run dozens of anti-fraud algorithm processes which will then either instantly approve the provided claim, or if not their AI will suggest talking to a human assistant where the issues can be sorted.
Because of these simple processes which Lemonade uses they are able to handle 30% of claims instantly. This has led to customers rewarding Lemonade with a 4.9 star rating out of 5 on their app.
It’s safe to say that customers are ecstatic about Lemonade.
The Competition is Coming… Maybe?
Lemonade looks to be facing competition in the eyes of many from the entire insurance industry, this is due to the fact that Lemonade is simplifying a difficult process. They are disrupting the industry as a whole and showing how insurance should be handled if you truly want to provide the best for your customers.
So does Lemonade really have competition? Well not really and here’s why.
Many insurance companies are not technology driven and still use the old ways of doing business, let alone have an AI algorithm as their main assistant for all clients. Lemonade has a
first-mover advantage in this new way of conducting business in the insurance industry due to being able to use data to further improve their business model. Data is not the priority of insurance companies, except it is for Lemonade. They can train their algorithm at a fast pace with their data to continuously provide the best results and experiences for their customers.
This is what makes them stand out against the others.
The Obstacles
One of the main obstacles standing in the way of Lemonade is actually Lemonade itself. In order for them to take on a bigger chunk of the insurance industry, they will need to prove themself to a wider range of people across the world that they not only offer fast services, but reliable ones.
A complete judgement can’t be made quite yet for many as Lemonade hasn’t been around for as long as some traditional insurance companies, some even existing for a century or more. However if Lemonade can prove themself and show their services are truly the best a customer could ever receive, then there is nothing stopping Lemonade from continuing to take more pieces of the insurance industry.
Overall Lemonade is a really phenomenal insurance company, they even let their customers choose a nonprofit and send the unclaimed money to the cause of their choice at the end of every year.
These characteristics have made Lemonade a Certified B-Corporation. If it’s possible for an insurance company, it shows that any company has room for social good.
Sources:
https://www.lemonade.com/claims