Financial IT speaks with Derek Corcoran, CXO of Avoka

Surrey-headquartered banking services firm Cennox has obtained a £24m funding package from NatWest and RBS Invoice Finance. 

The funding supports Cennox’s growth strategy, which has included the completion of a series of significant acquisitions over the last 12 months. These include the acquisitions of the European division of financial security firm, 3SI Security Systems, and Acketts Group, a UK-based ATM installer.

The way we pay is changing. Consumers are now using their PC, smartphones, wearable devices and even cars to buy goods and services.

The size and value of the card-not-present (CNP) market is increasing exponentially as payment use-cases across e-commerce, m-commerce and the Internet of Things (IoT) emerge and mature.

What is card-on-file?

The process of collecting and storing payment credentials for future use, known as card-on-file, is fundamental to the remote commerce ecosystem.

Avaloq, the leading global provider of software as a service (SaaS) and business process as a service (BPaaS) solutions to banks and wealth managers, has upgraded its open software architecture. The key components of Avaloq’s new software architecture are self-contained systems that banks and wealth managers can easily adopt individually. Avaloq’s clients will benefit from greater business agility and scalability, improved time-to-market and lower risk.

There was a big hoo-haa last week when UK Gov released their analysis of a no-deal Brexit. A no-deal Brexit is if we reach 29th March 2019, two years after triggering the exit process and an effective D-Day, without agreeing terms between UK Gov and the European Union.

Africa’s premier fintech event, the Africa Fintech Summit, (www.AfricaFintechSummit.com) will be held for the first time in Lagos, Nigeria, on November 8-9, 2018. This event comes on the heels of the earlier edition in Washington D.C. which featured leading policy makers, c-suite business executives, start-ups, and investors.