Supports expansion of global financial services products and solutions
Growing subscriptions to natural hazard data and analytics
Offering online solutions with three major industry partners
DENVER, March 18, 2021 /PRNewswire/ - Intermap Technologies ("Intermap" or the "Company"), a global leader in geospatial intelligence solutions, today announced the hiring of a new Chief Technology Officer and expansion of its global financial services business.
Intermap is pleased to welcome Ralph Hope as Chief Technology Officer. For more than two years, Mr. Hope has been collaborating with the Company's technical teams and senior management as an analytics research consultant. Previously, Mr. Hope served as Chief Operating Officer and Chief Technology Officer for the Global Capital Markets division of BlackRock, one of the world's largest and most respected asset managers with over $8 trillion in assets under management. In this role, Mr. Hope developed automatic allocation algorithms and global trading policy. Prior to Global Capital Markets, Mr. Hope worked for BlackRock as a senior developer in a cross-department, cross-region, rapid application development team providing front, middle and back office tools to support BlackRock's growth. He also worked with senior leadership to create and implement global IT policy. Before his ten years at BlackRock, Mr. Hope worked in the software industry, developing systems for insurance and financial industry clients. Mr. Hope brings a wealth of experience in IT development and leadership from his career in technology designed for the finance and insurance markets.
"We are delighted to welcome Ralph to the team," said Patrick A. Blott, Intermap Chairman and CEO. "With this important addition, Intermap takes another step forward to enhance our technology and IP, including machine learning and automation. Ralph will also help grow our financial services business, which leverages our expertise in other industry verticals. Our products and solutions are provided in real time and offered as a service. Ralph will be a valuable part of our shift in revenue mix toward recurring software subscriptions."
In the fast-evolving geospatial market, there is a high demand for real-time alternative data and predictive analytics. Alternative data is compiled from multiple sources and are often less accessible and structured than traditional datasets. Intermap collects high-frequency 3D data and offers data-as-a-service for a variety of solutions. The Company uses the data and produces models that are integrated into analytics, which include insurance underwriting, telecommunications network planning, railway corridor risk management and pattern of life modeling. Intermap's commercial solutions are based on proprietary NEXTMap® elevation datasets and are available worldwide.
Intermap is expanding solutions around the world by offering products and services to the financial services market. The Company recently added multiple European banking customers, including ERSTE Group, three KBC Group banks, Raiffeisen, Moneta Money Bank, and Banka Creditas. Intermap is also delivering unmatched results and seamless integration with property valuation application makers such as MyNEMO Report and Pluto–Olt. The Company is serving this new market in collaboration with Společnost pro Cenové mapy ČR and their exclusive project partner Deloitte Advisory.
In the Czech Republic, Intermap's flood hazard data-as-a-service and software are used by the largest insurance carriers, accelerating the Company's expansion across Europe. European financial services providers are now benefitting from Intermap's long history of providing essential natural hazard risk data throughout the continent. Learn more about Intermap's European offerings at www.intermap.com/european-solutions.
"Our financial services business is growing dramatically," Mr. Blott continued. "The combination of our predictive analytics and dynamic 3D data delivers powerful results to our clients, including commercial enterprises and allied governments. Intermap will continue to invest in the necessary expertise and infrastructure to drive continual improvement of those results."
Intermap Reader Advisory
Certain information provided in this news release constitutes forward-looking statements. The words "anticipate", "expect", "project", "estimate", "forecast", "will be", "will consider", "intends" and similar expressions are intended to identify such forward-looking statements. Although Intermap believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of known and unknown risks and uncertainties. Intermap's forward-looking statements are subject to risks and uncertainties pertaining to, among other things, cash available to fund operations, availability of capital, revenue fluctuations, nature of government contracts, economic conditions, loss of key customers, retention and availability of executive talent, competing technologies, common share price volatility, loss of proprietary information, software functionality, internet and system infrastructure functionality, information technology security, breakdown of strategic alliances, and international and political considerations, as well as those risks and uncertainties discussed Intermap's Annual Information Form and other securities filings. While the Company makes these forward-looking statements in good faith, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that the Company will derive therefrom. All subsequent forward-looking statements, whether written or oral, attributable to Intermap or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements made herein, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law.
About Intermap Technologies
Founded in 1997 and headquartered in Denver, Colorado, Intermap (TSX: IMP;OTCQX: ITMSF) is a global leader in geospatial intelligence solutions. The Company's proprietary NEXTMap® database and value-added geospatial data management, processing, analytics, fusion and orthorectification software and solutions are utilized across a range of industries that rely on accurate, high-resolution elevation data, including aviation, engineering, environmental planning, government markets, hydrology, insurance, land management, law enforcement and patrol, oil and gas, renewable energy, telecommunications, transportation and utilities. Intermap's commercial applications include location-based intelligence, risk assessment, geographic information systems, global positioning systems and 3D visualization. For more information, please visit www.intermap.com.
SOURCE Intermap Technologies Corporation