Rand Merchant Investment Holdings (JSE:RMI) through AlphaCode, RMI’s innovation hub for fintech entrepreneurs and Nedbank Private Equity (NPE) through its private equity investment vehicle, BoE Private Equity Investments, have each acquired minority shareholdings in Entersekt in a multi-million dollar transaction. 

Moneymailme has appointed Mark Bolsom as Business Development Director. Mark joins Moneymailme from Western Union, where he led a 50-strong FX services team for five years. Before Western Union, Mark spent five years at Travelex as Head of Corporate Dealing. 

Today Nasdaq is launching an innovative new market feature, Auction on Demand – designed to fulfill MiFID II transparency requirements.

Ebury, one of the fastest growing fintechs for corporate cross-border payments and growth lending, today announced four new hires across its’ European offices; an office opening in Athens and the completion of moves to larger offices in Paris and Warsaw in June this year. 

MFS Africa and Paga announced today the launch of their partnership connecting Paga users and Nigerian bank account holders to remittance senders from around the world. Thanks to this collaboration, anyone with a Paga wallet can receive transfers from millions of other mobile money users across Africa, or from any money transfer operator connected to the MFS Hub. 

What can banks do to dramatically increase new credit cards issued or the number of mobile banking users?

Banks worldwide seem to be struggling with this challenge. Even though online banking penetration is growing, only 7 to 11% of customers use specific bank’s products. An average bank has about 30-50 particular products, but only 2 to 3 of them are used by clients – meaning that up to 90 percent of bank products can remain unused.

NEX Regulatory Reporting, a NEX Group business which provides regulatory reporting services across worldwide regulatory regimes, and Duco, the global provider of self-service data normalisation and reconciliation services, today announce that NEX Regulatory Reporting is to use Duco’s technology to provide MiFID II reconciliation to their clients.

Cardtek, a leading global payment technologies provider, today announced that it is collaborating with NXP Semiconductors to deliver the first nationally sanctioned mobile wallet solution for the United Arab Emirates. 

AxeTrading, a provider of fixed income trading technology, has announced a strategic investment of €2 million from Illuminate Financial Management LLP, a venture capital firm backed by Deutsche Börse Group and IHS Markit amongst others with a specific focus on capital markets financial technology. 

Applications invited by July 17 on www.fintech71.com

British entrepreneurs are being offered the chance to develop financial services ideas in one of the top financial regions in the US, with a $100,000 (£77,000) equity-based grant and a package of support for growing businesses.