Konsentus today announced that two senior members of the commercial team at the Open Banking Implementation Entity (OBIE), have joined Konsentus as VP, Business Development, to scale up operations as Open Banking takes off across the UK and Europe.

Paul Hughes, most recently, Head of Business Development at the OBIE, also held senior positions at Vocalink, U.S. Bankcorp (Elavon), RBS and Barclays. He is joined by Peter Mortlock, a senior Sales Executive from OBIE whose extensive payments experience includes roles with Vocalink, Snatch and Verifone.

Today the British Business Bank has announced that it has approved four new lenders for accreditation under the Coronavirus Business Interruption Loan Scheme (CBILS), which provides financial support to smaller businesses (SMEs) across the UK that are losing revenue and seeing their cashflow disrupted, as a result of the Covid-19 outbreak. The new CBILS lenders are Allied Irish Bank (GB)/AIB (NI), ThinCats, Paragon Bank and IGF (Independent Growth Finance).

Banks and other financial services organizations have been investing in big data for years. From purchasing data, to collecting it at various points along the customer journey, they have an overabundance of valuable customer and even employee information at their fingertips. Ideally, this would be used to optimize operations, analyze customer behavior and grow employee engagement, among other things.

Financial IT:  Please introduce us to Modularbank

Vilve: Modularbank is a new entrant into the UK Fintech scene. We provide a flexible banking platform, allowing any business to rapidly offer seamless, tailored financial services to its customers. 

The company was launched in 2018 by a small group of Estonian financial IT pioneers and entrepreneurs. Modularbank is a spin-off from another Estonian fintech: Icefire, which is responsible for the infrastructure of the Estonian tax system and which has successfully built more than 15 banks and financial institutions. 

Wolters Kluwer Compliance Solutions today revealed that its Paycheck Protection Program (PPP) Supported by TSoftPlus™ solution, designed to help banks, credit unions, and other lenders support small businesses with payroll funding during the COVID-19 crisis, has so far assisted in PPP loan approvals supp

 InstaReM, the consumer and SME arm of global financial technology platform Nium, announced today the launch of cash payout options for recipients in Philippines.

Western Union (NYSE: WU), a leader in cross-border, cross-currency money movement and payments, announced continued expansion of its Global Network for real-time money-movement and payments, benefiting the Company’s consumers an

Chip, the clever app that automatically saves up money for you, shares its growth opportunity with its investor community as 4,240 people invest £2,575,096 to fuel the firm's progress. Working with Crowdcube, the private round exceeded its £1 million target within hours, making it the largest equity crowdfund to be completed in the UK since the lockdown started.

Wirecard, the global innovation leader for digital financial technology, and mobile payment specialist Stampay are helping restaurants and retailers to expand their services by offering cashless delivery and takeaway options. The contactless payment options offered by Wirecard via the payment platform stampayGO enable SMEs to quickly and easily begin offering their customers safe takeaway and delivery services, for instance during the Covid-19 pandemic.