GBank Financial Holdings Inc. is Pleased to Share the Press Release of BankCard Services, LLC (BCS), Announcing the Execution of a Sponsorship and Designation Agreement for Real Time Payments (RTP) Between GBank, BCS, and Trice Technologies, Inc.

Rhea-AI Summary

GBank Financial Holdings Inc. (OTCQX: GBFH) has announced a significant development through its subsidiary, BankCard Services, (BCS). BCS has executed a Sponsorship and Designation Agreement for Real Time Payments (RTP) with GBank and Trice Technologies, Inc. This agreement marks an important step in the company's involvement in cashless gaming technology and financial services innovation.

The partnership aims to leverage BCS's expertise in enabling financial institutions to participate in cashless gaming, combined with GBank's banking infrastructure and Trice Technologies' technological capabilities. This collaboration is expected to enhance the company's position in the rapidly evolving digital payment landscape, particularly in the gaming sector.

Positive

• Execution of a Sponsorship and Designation Agreement for Real Time Payments (RTP)
• Expansion into cashless gaming technology
• Strategic partnership with Trice Technologies, Inc.

Negative

• None.

LAS VEGAS, July 31, 2024 /PRNewswire/ -- GBank Financial Holdings Inc. (the "Company") (OTCQX: GBFH), the parent company for GBank (the "Bank"), is pleased to share the press release by BankCard Services, LLC ("BCS"), a technology company that enables financial institutions to participate in cashless gaming, announcing the execution of a Sponsorship and Designation Agreement for Real Time Payments between GBank, BCS, and Trice Technologies, Inc.

The full press release from BankCard Services, LLC, and Trice Technologies, Inc. can be found here:

BankCard Services, LLC (BCS) Announces the Execution of a Sponsorship and Designation
Agreement for Real Time Payments (RTP) between BCS, GBank, and Trice Technologies, Inc. 

Click here to learn more about GBank Financial Holdings Inc. 

Click here to learn more about BankCard Services, LLC.

Click here to learn more about Trice Technologies, Inc.

Cautionary Notice Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding certain of the Company's goals and expectations with respect to future events that are subject to various risks and uncertainties, and statements preceded by, followed by, or that include the words "may," "will," "could," "should," "expect," "plan," "project," "intend," "anticipate," "believe," "estimate," "predict," "potential," "pursuant," "target," "continue," and similar expressions. These statements are based upon the current belief and expectations of the Company's management team and are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control). Factors that could cause actual results to differ materially from management's projections, forecasts, estimates and expectations include, but are not limited to: the impact on us or our customers of a decline in general economic conditions and any regulatory responses thereto; potential recession in the United States and our market areas; the impacts related to or resulting from bank failures and any continuation of uncertainty in the banking industry, including the associated impact to the Company and other financial institutions of any regulatory changes or other mitigation efforts taken by government agencies in response thereto; increased competition for deposits and related changes in deposit customer behavior; the impact of changes in market interest rates, whether due to continued elevated interest rates or potential reductions in interest rates and a resulting decline in net interest income; the persistence of the inflationary pressures, or the resurgence of elevated levels of inflation, in the United States and our market areas; the uncertain impacts of ongoing quantitative tightening and current and future monetary policies of the Board of Governors of the Federal Reserve System; effects of declines in housing prices in the United States and our market areas; increases in unemployment rates in the United States and our market areas; declines in commercial real estate values and prices; uncertainty regarding United States fiscal debt and budget matters; cyber incidents or other failures, disruptions or breaches of our operational or security systems or infrastructure, or those of our third-party vendors or other service providers, including as a result of cyber-attacks; severe weather, natural disasters, acts of war or terrorism, geopolitical instability or other external events; regulatory considerations; our ability to recognize the expected benefits and synergies of our completed acquisitions; the maintenance and development of well-established and valued client relationships and referral source relationships; acquisition or loss of key production personnel; changes in tax laws; the risks related to the development, implementation, use and management of emerging technologies, including artificial intelligence and machine learnings; potential increased regulatory requirements and costs related to the transition and physical impacts of climate change; and current or future litigation, regulatory examinations or other legal and/or regulatory actions. These forward-looking statements are based on current information and/or management's good faith belief as to future events. Although the Company believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. Therefore, the Company can give no assurance that the results contemplated in the forward-looking statements will be realized. Due to these and other possible uncertainties and risks, readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. The inclusion of this forward-looking information should not be construed as a representation by the Company or any person that the future events, plans or expectations contemplated by the Company will be achieved. All subsequent written and oral forward-looking statements attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. The forward-looking statements are made as of the date of this press release. The Company does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made, except as required by law. All forward-looking statements, express or implied, included in the press release are qualified in their entirety by this cautionary statement.

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SOURCE GBank Financial Holdings Inc.

FAQ

What is the significance of the Real Time Payments (RTP) agreement for GBank Financial Holdings Inc. (GBFH)?

The RTP agreement between GBank, BankCard Services, and Trice Technologies signifies GBFH's expansion into cashless gaming technology and real-time payment solutions, potentially enhancing its service offerings and market position in the financial technology sector.

How does the partnership with Trice Technologies benefit GBank Financial Holdings Inc. (GBFH)?

The partnership with Trice Technologies allows GBFH to leverage advanced technological capabilities, potentially improving its real-time payment services and strengthening its position in the cashless gaming market.

What role does BankCard Services (BCS) play in GBank Financial Holdings Inc.'s (GBFH) business strategy?

BCS, a subsidiary of GBFH, enables financial institutions to participate in cashless gaming. This technology company is key to GBFH's strategy in expanding its presence in the digital payment and gaming sectors.