Signature Bank’s Proprietary Digital Payments Platform, Signet™, Selected by American PowerNet to Facilitate Real-Time Payments for Renewable Energy Industry
Summary
Signet affords American PowerNet the ability to settle with power generators on a daily basis once schedules are confirmed, compared with the traditional 30-day payment structure that has long been the industry standard.American PowerNet is offering the first end-to-end blockchain-enabled platform for purchasing and delivering renewable energy, Verde Blocks, marking a revolutionary shift industrywide.Using a USD blockchain-based payments platform such as Signet signals a transformation throughout the renewable energy space as it streamlines a process within a multi-billion industry that hasn’t witnessed change in decades.You should not place undue reliance on those statements because they are subject to numerous risks and uncertainties relating to our operations and business environment, all of which are difficult to predict and may be beyond our control.These factors include but are not limited to: (i) prevailing economic conditions; (ii) changes in interest rates, loan demand, real estate values and competition, any of which can materially affect origination levels and gain on sale results in our business, as well as other aspects of our financial performance, including earnings on interest-bearing assets; (iii) the level of defaults, losses and prepayments on loans made by us, whether held in portfolio or sold in the whole loan secondary markets, which can materially affect charge-off levels and required credit loss reserve levels; (iv) changes in monetary and fiscal policies of the U.S. Government, including policies of the U.S. Treasury and the Board of Governors of the Federal Reserve System; (v) changes in the banking and other financial services regulatory environment and (vi) competition for qualified personnel and desirable office locations.