Privacy | For more information about City National, visit the company’s website at www.cnb.com. Equal Housing Lender ©2020 City National Bank. Leave … Previous investors include Entertainment Partners, TTV Capital, S-Cubed Capital and Stanford StartX Fund. Exactuals is a software-as-a-service company whose primary product is called PaymentHub, which provides payments and reporting functions with a high degree of security and accuracy. Exactuals’ system provides payments and reporting functions with greater security, accuracy, transparency and speed. Upgrade to the latest Internet Explorer version, Investment and Insurance products: Are not insured by the FDIC or any other federal government agency, Are not deposits of or guaranteed by a Bank or any Bank affiliate. We are working with the leading music industry clients, partners, artists and writers. Read More » Headlines Blockchain, dotBlockchain, Exactuals. Email. Company. to learn more & get involved. City National Bank is a subsidiary of Royal Bank of Canada. Mike Hurst will remain CEO of Exactuals. EMAIL ME. About Our Ads [email protected], Debora Vrana, (213) 673-7631 First Name. Last Name. The added financial strength of City National and its parent company Royal Bank of Canada (RBC) will enhance Exactuals ability to serve larger clients, while providing peace of mind to firms of all sizes. Firms can process global payments through operating accounts at City National. That’s where Exactuals’ RAI (royalties.ai) comes in. Shortly after the 2017 funding round, Exactuals landed the SAG-AFTRA account, and it is working with the entertainment industry's largest union to offer its 160,000 members direct deposit of residual payments. Terms of City National’s acquisition were not disclosed. City National Bank on Monday said it paid an undisclosed amount of money to acquire Exactuals, a royalties and residuals payment company whose clients include SAG-AFTRA and a variety of film, TV and music companies. They automated everything and provided transparency which the … Our systems indicate that you are using an older version of Internet Explorer that may not fully support our online services. "This acquisition builds on City National's history of serving the entertainment industry, and it is the latest example of our commitment to provide clients with premier service and state-of-the-art payments systems," said City National chairman and CEO Russell Goldsmith. Exactuals, headquartered in Los Angeles with an office in Nashville, employs about 40 people. GENERAL & PUBLICITY [email protected] BUSINESS [email protected]. They began digitising processes to make it easier for the payers and the payees in those industries to manage payments. Exactuals, founded in 2011, is a Software as a Service (SaaS) company modernizing the way the entertainment industry makes payments, including residuals, royalties, marketplace payments, and similarly complex transactions. City National anticipates additional revenue from Exactuals’ payment processing and also expects to increase deposits and enhance the services it can offer to the bank’s entertainment clients. Exactuals' RAI & Metadata Advisor. Exactuals’ innovative payment system, PaymentHub, allows studios, unions, guilds, payroll companies, music publishers, record labels, distributors and marketplaces to provide direct deposit payments, tax document management and online reporting to rights holders, performers, managers, service providers and independent contractors across the globe. RightsTech Roundtable. Recognizing clear rights ownership information is a central issue for accurate licensing and ultimately payment, the company recently introduced RAI, a software … City National said Mike Hurst will remain CEO of Exactuals, and he and other top executives are being retained with multiyear contracts. With $48.8 billion in assets, City National Bank provides banking, investment and trust services through 72 offices, including 19 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada, New York City, Nashville, Atlanta, Minneapolis and Washington, D.C. 10:11 AM PDT 8/13/2018 In February 2017, City National participated in a $10 million round of funding for Exactuals. Source: DotBlockchain Partners With Exactuals In Effort to Clear Up Music’s Data Problem. [email protected], Jennifer Harlan, (917) 322-0994 Exactuals started in film and TV and the first client was the Screen Actors Guild (SAG) and AFTRA. But despite nearly two decades of growth since the launch of the first online music stores in the early 2000s, the music industry still has a massive metadata problem. Exactuals provides innovative SaaS solutions used by film/TV, music and marketplace companies to manage residuals, royalties and other complex payments. Terms of Use | In addition to PaymentHub, Exactuals recently launched RAI, a sophisticated artificial intelligence tool used by record labels and publishers to optimize ownership metadata for the calculation and payment of royalties. The lack of one unified standard and prevalence of poor-quality metadata means that many artists, labels, publishers, and other stakeholders are not being paid fairly for the use of their works, or not being paid at all. Exactuals was founded at the Stanford Graduate School of Business in 2011 with the goal of modernizing the entertainment payments space. All rights reserved. Our Clients and Partners. Co-founder, Metadata Advisor. The music business has gone digital: it’s an indisputable fact. City National Bank is a subsidiary of Royal Bank of Canada All Rights Reserved. Exactuals is led by a team of software and entertainment industry veterans who have experienced the limitations of traditional payment solutions first-hand. Deposit products and services are provided by City National Bank Member FDIC. Exactuals has been around for nearly eight years and in September of last year Exactuals was acquired by City National Bank. In addition to PaymentHub, Exactuals recently launched RAI, a sophisticated artificial intelligence tool used by record labels and publishers to optimize ownership metadata for the calculation and payment of royalties. The payments firm will continue to modernize the residuals and royalty … Sitemap | That’s where Exactuals’ RAI (royalties.ai) comes in. TECHNICAL … Via machine learning and entity resolution, RAI optimizes and enhances music metadata for record labels, publishing companies, performance rights … “This acquisition builds upon a five-year investment relationship between our two companies. SET UP A MEETING TODAY. Via machine learning and entity resolution, RAI optimizes and enhances music metadata for record labels, publishing companies, performance rights organizations (PROs), and digital service providers (DSPs) to ensure works are registered properly for royalty attribution. ©2020 City National Bank. The payments firm will continue to modernize the residuals and royalty payment process for the entertainment industry, and over time, it plans to expand to serve other businesses as a wholly owned subsidiary of City National Bank. Mike and his team are highly skilled, and we’re very pleased that they will be joining City National. Upgrade your browser to optimize your online banking experience. LOS ANGELES – City National Bank, America’s Premier Private and Business Bank®, today announced it has acquired Exactuals, a Los Angeles-based provider of innovative SaaS solutions for complex payments in the entertainment industry. TWITTER It recently launched RAI, an artificial-intelligence tool for record labels and publishers that helps to calculate royalty payments. “We are excited to bring our leading technology together with the most trusted bank in entertainment,” Hurst said. Title. “Exactuals has developed a groundbreaking and unique payments and reporting platform that enhances security and reliability,” said City National Bank Chairman and CEO Russell Goldsmith.
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