Professional services firms feeling the heat as regulators clamp down on dirty money

Overview:

Watch the video for a summary of this week’s news releases, a review of the USD index, and a complete top down analysis of the AUDUSD.

AUDUSD Monthly:

Monthly support at 0.6991, resistance at 0.7414.

Monthly chart is in a downtrend. Price has rallied all the way back to the 0.7414 monthly resistance level. Is this where price reverses for the next decline?

The businesses will follow in the footsteps of PixelMax, My First Five Years and Sparkbox who have secured multi-million-pound investments while on the scheme

18 new Exchange scheme businesses will join 13 firms entering a second term on the programme

31 innovative early-stage tech start-ups have been accepted onto Manchester’s leading scale-up support scheme and are now tipped to be among the region’s next big tech businesses.

Strategic partnership makes Flywire the preferred payment partner for Tribal Group, the leading Student Information System in EMEA and APAC

Flywire’s integrated offering with Tribal Group delivers a seamless payment experience for students and operational efficiencies for higher education institutions

PayNearby releases its annual ‘PayNearby Women Financial Index (PWFI)’ - a detailed analysis on ‘financial consumption by women at retail outlets’ in 2021-22

§  Over 58% of women who avail basic banking services at retail stores prefer AePS to access their accounts

§  Cash continues to be the king, with more than 60% women preferring to deal in cash, followed by UPI QR and cards in that order

§  Most digitally adept women customers engaged in financial transactions at retail stores fall in the age group of 21-30 years

BankiFi, the Manchester-based tech company on a mission to put banks at the heart of business has announced today that it has joined Visa Fintech Partner Connect in Europe – a programme that helps Visa`s clients deliver the next generation of digital banking solutions. The partner programme focuses on Visa’s clients who have shown an interest in improving their digital proposition for SMEs.

Award winning law firm, Blacks Solicitors has appointed Richard Morton to lead the Banking team nationally.

Richard joins Blacks as a partner and head of Banking law following his time leading the banking teams at Squire Patton Boggs and Gateley. He will work closely with Blacks’ head of Corporate law, Nigel Hoyle, to further grow Blacks’ six-partner Corporate team and to develop a stand-alone Banking team.

The tech/fintech industry is made up of people from many different disciplines. I’m the perfect example of this, having originally done my undergraduate degree in engineering before doing finance for my Master’s degree. I then went into the banking sector for 25 years before moving to Paynetics. My move into fintech was motivated by a need to explore what was beyond traditional banking, recognising that this industry was where a lot of the exciting innovations were happening.

Financial IT: How would you define your role in fintech?