STOCK TITAN

AtlasClear Holdings Launches New Online Account Application with Pacsquare

Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary

AtlasClear Holdings (NYSE American: ATCH) has announced the launch of a next-generation online account application developed in collaboration with Pacsquare Technologies. This new application aims to streamline the onboarding process for clients interested in trading in the U.S. market. The tool allows clients to provide essential personal, financial, and banking information securely and efficiently, with submitted data undergoing verification by a dedicated risk management team. Benefits include reduced paperwork, quicker processing times, and immediate access to trading upon account activation. The application uses REST-based APIs to manage accounts and user data securely, supporting comprehensive account and user management, including hierarchical management of broker relationships. This launch underscores AtlasClear’s commitment to enhancing the trading experience and solidifying their position as a leader in Fintech trading solutions.

Positive
  • Launch of a next-generation online account application is expected to streamline the onboarding process for clients.
  • Significant reduction in paperwork and processing time for new accounts.
  • Immediate access to trading platform upon account activation.
  • Robust verification processes ensure the integrity and security of client data.
  • Uses REST-based APIs for secure and reliable data exchange, supporting comprehensive account and user management.
Negative
  • None.

Launch Expected to Provide a Streamlined Onboarding Process for Clients

TAMPA, Fla.--(BUSINESS WIRE)-- AtlasClear Holdings, Inc. (“AtlasClear Holdings”) (NYSE American: ATCH) today announced the launch, in collaboration with Pacsquare Technologies LLC (“Pacsquare”), of a next-generation online account application that it expects will streamline the onboarding process for its clients in the U.S.

“We are thrilled to announce the launch of our automated online account application, designed to simplify and enhance the onboarding process for clients eager to trade in the U.S. market,” said AtlasClear Holdings’ President, Craig Ridenhour. “The goal of this state-of-the-art tool is to allow clients to provide essential personal, financial, and banking information securely and efficiently through a user-friendly interface. Our application gathers necessary personal, financial, and banking data required for setting up an account, and the submitted information undergoes verification by our dedicated risk management team to ensure compliance and security.”

There are multiple benefits of the new online account application. The onboarding process is significantly streamlined, reducing paperwork and processing time. Its robust verification processes [promote] the integrity and security of client data, offering peace of mind in today’s digital age. Integration with AtlasClear Holdings’ back office empowers clients to engage with its trading platform immediately upon account activation. This quick access to trading is crucial for clients who want to take advantage of market opportunities without unnecessary delays.

The online account application uses REST-based APIs (this API enables communication and data exchange between different software applications via the HTTP protocol) to efficiently manage accounts, users, and broker subordinates with robust security protocols for secure and reliable data exchange. The APIs offer comprehensive account management, including creation, updates, and deletions, alongside a full suite of user management capabilities such as registration, authentication, role assignment, and profile updates, all adhering to strict security and privacy standards. Additionally, the APIs support hierarchical management of brokers and their subordinates, enabling easy addition, modification, and removal of subordinate relationships. The goal is to ensure scalable, maintainable, and high-performance interactions for managing critical data across various entities.

“Our commitment to providing a seamless and secure platform for our clients is unwavering. The launch of the online account application is a testament to our dedication to enhancing the trading experience for our clients. By offering a secure and efficient onboarding experience, we aim to simplify the journey for clients to begin trading in the U.S. and international markets, which we believe reinforces our position as a Fintech leader in offering trading solutions,” said Executive Chairman, John Schaible.

About AtlasClear Holdings, Inc.

AtlasClear Holdings plans to build a cutting-edge technology enabled financial services firm that would create a more efficient platform for trading, clearing, settlement and banking of evolving and innovative financial products with a focus on the small and middle market financial services firms. The goal of AtlasClear Holdings is to have a fully vertically integrated suite of cloud-based products including account opening, trade execution, risk management, regulatory reporting and settlement. The team that leads AtlasClear Holdings consists of respected financial services industry veterans that have founded and led other companies in the industry including Penson Clearing, Southwest Securities, NexTrade and Anderen Bank.

About Wilson-Davis & Co., Inc.

Wilson-Davis & Co. Inc. (“Wilson-Davis”) is a full-service correspondent securities broker-dealer. The company is registered with the Securities and Exchange Commission (“SEC”), the Financial Industry Regulatory Authority and the Securities Investor Protection Organization. In addition, Wilson-Davis is a member of DTCC as well as the National Securities Clearing Corporation. Headquartered in Salt Lake City, Utah and Dallas, Texas. Wilson-Davis has been servicing the investment community since 1968, with satellite offices in California, Arizona, Colorado, New York, New Jersey and Florida.

About Commercial Bancorp of Wyoming

Commercial Bancorp of Wyoming (“Commercial Bancorp”) is a bank holding company operating through its wholly-owned subsidiary, Farmers State Bank (“FSB”) and has been servicing the local community in Pine Bluffs, WY since 1915. It has focused the majority of its services on private and corporate banking. A member of the Federal Reserve, FSB is expected to be a strategic asset for AtlasClear Holdings’ long-term business model.

Cautionary Statements Regarding Forward-Looking Statements

This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that reflect AtlasClear Holdings’ current views with respect to, among other things, the future operations and financial performance of AtlasClear Holdings. Forward-looking statements in this communication may be identified by the use of words such as “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “foreseeable,” “future,” “intend,” “may,” “outlook,” “plan,” “potential,” “proposed” “predict,” “project,” “seek,” “should,” “target,” “trends,” “will,” “would” and similar terms and phrases. Forward-looking statements contained in this communication include, but are not limited to, statements as to (i) AtlasClear’s expectations as to various operational results, (ii) AtlasClear’s anticipated growth strategy, including the proposed acquisition of Commercial Bancorp and (iii) the anticipated benefits of the online account application.

The forward-looking statements contained in this communication are based on the current expectations of AtlasClear Holdings and its management and are subject to risks and uncertainties. No assurance can be given that future developments affecting AtlasClear Holdings will be those that are anticipated. Actual results may differ materially from current expectations due to changes in global, regional or local economic, business, competitive, market, regulatory and other factors, many of which are beyond the control of AtlasClear Holdings. Should one or more of these risks or uncertainties materialize, or should any of the assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Factors that could cause actual results to differ may emerge from time to time, and it is not possible to predict all of them.

Such factors include, but are not limited to: AtlasClear’s inability to successfully integrate, and/or realize the anticipated benefits of, the acquisition of Wilson-Davis & Co., Inc. and the technology acquired from Pacsquare Technologies LLC (the “Transaction”); failure to recognize the anticipated benefits of the Transaction, which may be affected by, among other things, competition, the ability of AtlasClear Holdings to maintain relationships with customers and suppliers and strategic alliance third parties, and to retain its management and key employees; AtlasClear Holdings’ inability to integrate, and to realize the benefits of other potential acquisitions; AtlasClear Holdings’ ability to successfully implement the online account application and to realize its anticipated benefits; changes in general economic or political conditions; changes in the markets that AtlasClear Holdings targets; slowdowns in securities or cryptocurrency trading or shifting demand for trading, clearing and settling financial products; any change in laws applicable to AtlasClear Holdings or any regulatory or judicial interpretation thereof; and other factors, risks and uncertainties, including those that were included under the heading “Risk Factors” in AtlasClear Holdings’ Annual Report on Form 10-K filed with the SECon April 16, 2024 and its subsequent filings with the SEC. AtlasClear Holdings cautions that the foregoing list of factors is not exhaustive. Any forward-looking statement made in this communication speaks only as of the date hereof. Plans, intentions or expectations disclosed in forward-looking statements may not be achieved and no one should place undue reliance on such forward-looking statements. AtlasClear Holdings does not undertake any obligation to update, revise or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.

Media

AtlasClearPR@icrinc.com

Investors

atlasclearir@icrinc.com

Source: AtlasClear

FAQ

What is the significance of AtlasClear Holdings' new online account application?

The new online account application is designed to streamline the onboarding process, reduce paperwork, and provide immediate access to trading, enhancing the overall client experience.

How will the new online account application benefit AtlasClear Holdings' clients?

Clients will benefit from a streamlined onboarding process, quicker account setup, robust data security, and immediate access to the trading platform.

How does AtlasClear Holdings ensure the security of client data with the new application?

The application includes robust verification processes and uses REST-based APIs with strict security protocols to manage data securely.

What technology does AtlasClear Holdings' new online account application utilize?

The application uses REST-based APIs to manage accounts, users, and broker subordinates, ensuring secure and efficient data exchange and comprehensive account management.

What immediate trading advantages does the new AtlasClear Holdings application offer?

Clients gain immediate access to the trading platform upon account activation, allowing them to take advantage of market opportunities without delays.

AtlasClear Holdings, Inc.

NYSE:ATCH

ATCH Rankings

ATCH Latest News

ATCH Stock Data

4.65M
23.28M
41.86%
7.56%
0.05%
Software - Infrastructure
Finance Services
Link
United States of America
TAMPA