The race towards digital transformation has picked up pace during the pandemic. In fact, a new survey by KPMG and Harvey Nash indicates that businesses around the world have spent the equivalent of $15bn extra per week on technology as a result of investment in product development. But how do they measure success? As with everything in a company, product development is by no means immune from metrics.

EBANX, a Latin American fintech specialized in local payment solutions for global merchants, has partnered with PicPay, the largest digital wallet in number of users in Brazil, to offer a new payment option in the country. 

Less than two years after SINNAD went live with its new processing platform built on Compass Plus software, SINNAD has completed the migration of the largest Islamic bank in Bahrain to its system.

Virgin Money has announced a new strategic FinTech partnership with Glasgow-based Redspire, to support the development of its digital proposition for the new Virgin Money Business current account.

Redspire is a Microsoft Gold Partner for Cloud Business Applications and the company will support the development of new digital solutions, as part of Virgin Money’s commitment to the recent £35m award from the Banking Competition Remedies (BCR) Capability and Innovation Fund.

Primer, the low-code payments infrastructure and online checkout API, today announces a £14 million Series A funding round led by Accel. Existing investors Balderton, SpeedInvest and Seedcamp also participated, and were joined in the round by RTP Global. 

CLS, a market infrastructure delivering settlement, processing and data solutions, and Finastra, one of the world’s largest fintechs, have agreed to enter into a collaboration to provide Finastra customers with access to CLSNet, CLS’s bilateral payment netting calculation service. The move addresses increased demand from the buy-side for a centralized infrastructure to manage post-trade processes. 

Chip, the savings app that has put aside more than £165 million for its users to date, has launched Chip+1, a new account paying the market’s best return of 1.25% (variable) on savings up to £5,000. The new account is eligible for the government-backed Financial Services Compensation Scheme (FSCS) up to £85,000, with all the money deposited into Chip+1 held in a segregated trust account with the UK authorised bank ClearBank.