NextPlay Appoints Jorge E. Miró Hernández as President and COO of NextBank International
SUNRISE, FL, Sept. 29, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- NextPlay Technologies, Inc. (NASDAQ:NXTP), a digital business ecosystem for consumers, digital advertisers, video gamers and travelers, has strengthened its executive team with the appointment of Jorge E. Miró Hernández as President and Chief Operating Officer, as well as appointing Carla P. Méndez as Chief Administrative Officer of NextBank International (the international banking unit of the company's fintech division).
Over the past several years, Miró has focused on assisting de novo financial institutions comply with regulatory regimes, particularly regarding the Federal Financial Institutions Examination Council. He has held various positions at local Financial Institutions and International Banking and Financial Entities in Puerto Rico, including Scotiabank, where he developed, managed, and maintained numerous compliance policies and procedures.
"As an industry leader in fintech, banking operations and compliance, we see Jorge making strong contributions to the growth and development of our fintech division as head of our new bank," said co-CEO Bill Kerby. "Currently NextBank has many times more business than its capital base will allow it to underwrite. Jorge's wealth of knowledge and executive experience in leading banking and compliance teams for several international financial institutions made him an ideal choice for implementing our growth strategies. This includes several new financial products and services that should both attract new customers as well as complementing our other divisions."
NextBank currently services U.S. consumers and international clients that seek a personalized banking experience but is quickly evolving into a diversified FinTech solutions company that offers banking, asset management, mobile payments, and other financial services. As an example, NextBank plans to launch an innovative mobile banking and FinTech app with access to cryptocurrency exchanges and digital wallets in the fourth quarter of 2021, as well as a new insurance offering in the first quarter of 2022.
Todd Bonner, Head of NextPlay's Fintech Division, stated: "Under Jorge's leadership, we see NextBank emerging as a global player with a new vision for international banking and global commerce that integrates with our other divisions, creating strong catalysts for growth over the coming year. In addition to growing traditional banking services, we have applications underway for regulatory licensing approval of new products ranging from insurance to protect the wealth of our banking customers to travel programs that assist customers in financing and insuring vacations. All will utilize blockchain solutions to minimize risk to the bank while accelerating NextPlay's growing ecosystem of technology platforms."
NextPlay is currently working on both growing its digital connected ecosystem and integrating its technology platforms (including AI-powered AdTech, travel, gaming, FinTech and cryptocurrency banking). When completed, the NextPlay ecosystem will connect companies and brands to consumers across multiple interactive media channels, including SmartTVs, PCs, laptops, tablets, and smartphones.
"I see tremendous opportunities for expanding NextBank services and revenue streams, especially in line with the other units in NextPlay's global digital ecosystem that are involved in cryptocurrency, gaming and travel," noted Miró. "For example, NextBank can provide financial services to NextTrip, including the ability for travelers to finance travel activities, such as medical tourism; merchant credit card services; a NextTrip-branded credit card; and traveler insurance services, including trip cancelation and interruption, property loss, and medical coverage. We see the expansion of our international online banking services as another area of strong potential."
About Jorge E. Miró Hernández
Miró brings to NextBank more than 15 years of experience in the financial services industry. Before joining NextBank, he served as Chief Compliance Officer for one of the leading Puerto Rico-based banks, to provide international correspondent banking, commercial and individual banking services with an FRBNY Online Account. Miró also led the regulatory compliance teams of other two additional IBE's International Banking Entities.
Under his leadership, the IFE (International Financial Entity) was the first Puerto Rico-based bank approved for an account under the Federal Reserve Bank of New York revised Account and Financial Services Handbook. Miró also serves on the board of directors of the "Fundación Atención Atención," an organization for children with special needs and education.
About Carla Méndez
NextPlay has also appointed Carla Méndez as Chief Administrative Officer of NextBank. Méndez brings to NextBank more than nine years of experience leading small business operations and startups. She has managed several business expansions, as well as logistics between companies based in Puerto Rico and the U.S.
Prior to joining NextBank, she was the Director of Operations for a private investment firm where she oversaw operations serving Asia, Latin America, South America, and the U.S. She holds a degree in Business Administration in Human Resources and Management from the University of Puerto Rico.
About NextBank
Acquired by NextPlay in July, NextBank is an International Financial Entity (IFE) operating under the laws of the Commonwealth of Puerto Rico. NextBank is licensed under Act 273 by the Office of the Commissioner of Financial Institutions (OCIF), and currently offers concierge banking services and lending products to successful entrepreneurs and companies. For more information visit https://next.bank/.
About NextPlay Technologies
NextPlay Technologies, Inc. (NASDAQ:NXTP) is a technology solutions company offering games, in-game advertising, crypto-banking, connected TV and travel booking services to consumers and corporations within a growing worldwide digital ecosystem. NextPlay's engaging products and services utilize innovative AdTech, Artificial Intelligence and Fintech solutions to leverage the strengths and channels of its existing and acquired technologies. For more information about NextPlay Technologies, visit www.NextPlayTechnologies.com and follow us on Twitter @NextPlayTech and LinkedIn.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of, and within the safe harbor provided by the Safe Harbor Provisions 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. Forward-looking statements give our current expectations, opinions, belief or forecasts of future events and performance. A statement identified by the use of forward-looking words including "will," "may," "expects," "projects," "anticipates," "plans," "believes," "estimate," "should," and certain of the other foregoing statements may be deemed forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this news release. Factors that may cause such a difference include risks and uncertainties related to our need for additional capital which may not be available on commercially acceptable terms, if at all, which raises questions about our ability to continue as a going concern; the fact that the COVID-19 pandemic has had, and is expected to continue to have, a significant material adverse impact on the travel industry and our business, operating results and liquidity; amounts owed to us by third parties which may not be paid timely, if at all; certain amounts we owe under outstanding indebtedness which are secured by substantially all of our assets and penalties we may incur in connection therewith; the fact that we have significant indebtedness, which could adversely affect our business and financial condition; uncertainty and illiquidity in credit and capital markets which may impair our ability to obtain credit and financing on acceptable terms and may adversely affect the financial strength of our business partners; the officers and directors of the Company have the ability to exercise significant influence over the Company; stockholders may be diluted significantly through our efforts to obtain financing, satisfy obligations and complete acquisitions through the issuance of additional shares of our common or preferred stock; if we are unable to adapt to changes in technology, our business could be harmed; if we do not adequately protect our intellectual property, our ability to compete could be impaired; our long-term travel business success depends, in part, on our ability to expand our property owner, manager and traveler bases outside of the United States and, as a result, our travel business is susceptible to risks associated with international operations; unfavorable changes in, or interpretations of, government regulations or taxation of the evolving ALR, Internet and e-commerce industries which could harm our operating results; risks associated with the operations of, the business of, and the regulation of, Longroot and NextBank (formerly IFEB); the market in which we participate being highly competitive, and because of that we may be unable to compete successfully with our current or future competitors; our potential inability to adapt to changes in technology, which could harm our business; the volatility of our stock price; risks associated with the integration of the operations of HotPlay Enterprise Limited, which acquisition we recently competed; the fact that we may be subject to liability for the activities of our property owners and managers, which could harm our reputation and increase our operating costs; and that we have incurred significant losses to date and require additional capital which may not be available on commercially acceptable terms, if at all. More information about the risks and uncertainties faced by the Company are detailed from time to time in the Company's periodic reports filed with the SEC, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, under the headings "Risk Factors". These reports are available at www.sec.gov. Other unknown or unpredictable factors also could have material adverse effects on the Company's future results and/or could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made only as of the date hereof. The Company takes no obligation to update or correct its own forward-looking statements, except as required by law, or those prepared by third parties that are not paid for by the Company. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.
Source: NextPlay Technologies
Company Contacts:
NextPlay Technologies, Inc
Richard Marshall
Director of Corporate Development
Tel (954) 888-9779
