15/08 – Weekly Fintech Recap
- Artificial Intelligence , Open Banking , Payments , Banking , M&A Deals , People Moves , Jobs Listings
- 15.08.2022 09:00 am
BT and Barclaycard Payments Announce Partnership Offering Exclusive Benefits for UK Micro-businesses
BT today announced Barclaycard Payments as the latest business to join its new partnership network, aimed at helping the UK’s smallest firms to grow. Barclaycard has signed up to BT’s partnership network, following The Federation of Small Businesses (FSB), with the aim of delivering a host of benefits for small firms over the next year. This will give them access to a wide range of vital support services, including legal and HR advice, financial products and health and wellbeing support.
Visa Announces Collaboration With Metrolinx, Bringing Tap To Pay To Transit In The Greater Toronto Area
Visa announced that Visa tap to pay will officially arrive on GO Transit, and has launched on the UP Express, making it easier to travel on transit by offering riders a contactless payment option with their Visa credit card or payment-enabled device (e.g. smartphone or smartwatch). Transit systems help city residents sustain their livelihoods, connect to services and pursue activities that create a vibrant city life.
Pomelo Pay Expands into Cryptocurrency Payments in Partnership with TripleA
Fintech platform Pomelo Pay has partnered with cryptocurrency payments services provider TripleA to enable businesses financial institutions, merchant acquirers, payment service providers and other fintechs, to offer cryptocurrency payments and pay-outs. Pomelo’s B2B platform supports businesses with frictionless payments, merchant acquiring services and more. As a unified white label solution, businesses can securely enable their merchants or partners to accept popular international payment methods with the latest technology.
Plaid Deal Lets Wise Customers Use Fintech Apps Bank-free
Wise has struck an open finance agreement with Plaid that will enable the former's 13 million customers to connect their accounts to thousands of apps. Based on Plaid's open finance tool Core Exchange, the arrangement means that people can connect their Wise USD local account to thousands of other apps - including Venmo, Truebill and Chime - to easily move money back and forth.
BitPay Adds Cardlytics-powered Rewards Program to its Crypto Prepaid Card
BitPay, the world’s largest provider of Bitcoin and cryptocurrency payment services, added a reward program to its BitPay Prepaid Card. Cardlytics, a cash-back rewards platform, is managing the rewards where the BitPay cardholder automatically receives up to 15 per cent cash back on purchases every time they use their card at participating retailers. Cardlytics works at thousands of retailers across shopping, dining, entertainment and travel with the largest offer catalogue of national and local retail brands for in-store and online.
Simpl’s Partnership with ConfirmTkt to Simplify Digital Payments for Train Travellers
Simpl, India’s foremost checkout network, has announced a partnership with ConfirmTkt to simplify payments. Through this alliance, Simpl will enable convenient digital payments to ConfirmTkt’s vast customer base, empowering them to plan their train travel better. The collaboration between Simpl and ConfirmTkt is unique since both companies have products specifically tailored for the Indian market with its distinctive characteristics: customers’ need for convenience, simplicity, ease of use, and speed.
Currencycloud, a Visa Solution, Teams up with London RegTech Clausematch to Enable Future Growth
Currencycloud, the experts simplifying business in a multi-currency world, have contracted Clausematch, the global regulatory technology (RegTech) company and compliance experts, to implement its policy management solution. Clausematch’s solution will allow Currencycloud to effectively manage its evolving suite of policies, procedures and other business-critical documentation.
VISA and Sopra Steria Named as Gold Sponsors of OIX’s Identity Trust Conference 2022
OIX announced that the European technology leader in consulting, digital services and software development, Sopra Steria, and a world leader in digital payments, Visa will be Gold Sponsors of the Identity Trust Conference 2022. Taking place on Thursday 29th September 2022, at the Queen Elizabeth II Conference Centre in London, and online, it will also be supported by the global digital agreements security company, OneSpan, as a Silver Sponsor.
Alain Finance Collaborates with Network International for its Credit Card Offerings in the UAE
Alain Finance, a private joint stock company that specializes in designing and offering alternative financing solutions to small and medium enterprises (SMEs) across the UAE, has announced the launch of its credit card offerings in the UAE and in collaboration with Network International (Network), the leading enabler of digital commerce across the Middle East and Africa (MEA) region.
KeyBank Selects BlueSnap for Expanded Payment Gateway Options to facilitate Cross Border eCommerce
BlueSnap, a global payment orchestration platform committed to helping B2B and B2C businesses accept and optimize digital payments around the world, announced it will now be a provider for KeyBank’s US gateway functionality. BlueSnap’s payments orchestration platform will be available for the bank’s middle market and institutional clients in the eCommerce space. With BlueSnap, KeyBank can offer its clients more robust payment options with additional functionalities.
YES BANK and IBSFINtech Tie Up to Provide Enhanced Digital Services for Corporate Clients
YES BANK and IBSFINtech, the leading TreasuryTech Solution provider, have teamed up to explore untapped opportunities emerging out of the digitization of corporate finance. This unique partnership will empower the corporate treasury ecosystem with a robust decision-making tool and automated workflows backed by seamless bank connectivity. The collaboration between YES BANK and IBSFINtech will yield paperless communication between the Bank and corporates across the function of treasury and trade finance.
Neofy Partners with Leading Payments Provider, HPS to offer Cloud-based Digital Cards Solution to Banks and Financial Institutions
Neobanks are shaking up the fintech (financial technology) industry with their innovative technologies and unique business models. Sometimes referred to as “challenger banks,” neobanks are fintech companies that offer financial services solely digitally or via a mobile app, without physical branches. Over the past years, as customers have become increasingly comfortable using technology platforms, client banking preferences have shifted to a more convenient, easily accessible digital experience.
Fintech App Dinero Encourages Young Indians to Build Wealth; Launches its Beta App on Google Play Store
Dinero, India's first rewards-on-investment platform, aimed at young Indians, announced the launch of its beta version of its app. The app is exclusively available on Google Play Store. Ahead of the launch, Dinero conducted a nationwide empirical study with 500 millennials to understand their tryst with personal finance.With its app launch, Dinero aims to create an easy, jargon-free, and affordable investment platform that helps users build wealth and create healthy financial habits and provides for a potential alternate income.
Hero Innovation Group Introduces Hero FinancialsTM, a Full-Service Alternative-to-Banking Solution for Raising Financially Empowered Kids
Hero Innovation Group Inc. (“Hero Group” or the “Company”), a Vancouver-based fintech solutions providerannounced the launch of Hero FinancialsTM (“Hero”), a full-service alternative-to-banking solution for the Canadian market. Hero is designed specifically for young Canadian consumers, with a total addressable market of up to 6 million users. Its product offerings are highly customizable and are strategically designed to address the unmet financial needs of Canadian kids, teens, GenZers, and their parents.
Coincover Introduces Disaster Recovery Technology to Protect Staked Crypto
Coincover – one of the leading digital asset protection technology companies – announces the launch of the world’s first staking protection technology. Staking, which allows investors to put their crypto to work and earn a yield, has opened up new opportunities for the crypto market and is catching the attention of a growing number of institutional investors. However, the relatively new investment strategy comes with potential risks. In certain cases, the network can penalise investors, eliminating a portion of their staked currency.
Verto Launches New Robust API Solution for Forex Services and Cross-border Payments
Verto, the leading B2B cross-border payments and foreign exchange (FX) enabler, announced the launch of its new API solution, empowering businesses to automate currency conversion, global pay-outs and beneficiary management. As the industry embraces embedded finance, more companies outside of traditional financial organisations are beginning to provide financial services relevant to their existing products.
Merger & Acquisition
Motive Partners Completes Sale of Global Shares to J.P. Morgan
Motive Partners ("Motive"), a specialist private equity firm focused on growth equity and buyout investments in software and information services companies that serve the financial services industry ("financial technology"), has received the necessary regulatory approvals and completed the sale of Global Shares to J.P. Morgan. Motive invested in Global Shares in August 2018, acquiring a ~40% stake in the business.
Jack Henry & Associates to Acquire Payrailz
Jack Henry & Associates, Inc. announced today that it has entered into a definitive agreement to acquire Payrailz, adding the company's next-generation digital payment capabilities, including real-time person-to-person (P2P) payments, to Jack Henry's payments ecosystem. Based in Glastonbury, Conn., Payrailz provides cloud-native, API-first, AI-enabled consumer and commercial digital payment solutions and experiences that enable money to be moved in the moment of need, and banks and credit unions to successfully compete with industry disruptors.
Legado Acquires Consumer and B2B Bill Management Technology From WonderBill
Open document and data platform specialist Legado has acquired the consumer and B2B bill management technology from WonderBill. Launched in 2016, London-based WonderBill allowed consumers to manage all their household bills and subscriptions. The company was backed by Shell Ventures, Shell’s corporate venture capital arm. FNZ, the global wealth management platform, and M&G are major backers of Legado through an investment round in 2019.
Crypto.com Expands in South Korea with Acquisitions of PnLink and OK-BIT
Crypto.com, the world’s fastest growing cryptocurrency platform, announced it has secured Electronic Financial Transaction Act and Virtual Asset Service Provider registration by acquiring payment service provider ‘PnLink Co., Ltd.’ and virtual asset service provider ‘OK-BIT Co., Ltd.’. In achieving this milestone, Crypto.com remains committed to its mission of being an industry leader in regulatory compliance, consumer safety, awareness, and protection.
Geraint Rogers Joins Credas as Chief Strategy Officer
Geraint Rogers has joined Identity Service providers Credas as their new Chief Strategy Officer having previously been the Product Director for Identity, Fraud and Financial Crime at Equifax UK. In his new role, Geraint will help Credas achieve its growth and expansion plans by identifying new opportunities and helping to enhance its existing proposition. Geraint has almost 30 years of experience in product development working across banking and risk/compliance including senior strategy roles at LexisNexis Risk Solutions and Experian.
Marqeta CEO to Step Down
Open API card issuing and processing platform Marqeta is on the hunt for a CEO after founder Jason Gardner decided to make the move to executive chairman. Gardner founded Marqeta in 2010, building it into a multi-billion dollar outfit disrupting the multi-trillion dollar card issuing market before taking the firm public last year. A hunt is now underway for his replacement.
Transact Payments Malta Appoints Sergio Gandolfo as CEO
Transact Payments Malta Limited (TPML) announces the appointment of Sergio Gandolfo as its new CEO.The appointment sees outgoing CEO, Aaron Carpenter, becoming Managing Director at Transact Payments Services Group Limited (TPSGL), a leading provider of UK & European BIN sponsorship and modular payment, debit, credit and prepaid services. In his new role, he will be responsible for spearheading and expanding TPML’s sustainable growth model, continuing its strong regulatory oversight regime.
AstroPay Appoints Sofía Lanza as Chief Banking Officer
AstroPay, the payment solution of choice for millions of users globally, has appointed Sofía Lanza as Chief Banking Officer, as the company moves forward with its expansion plans into new markets and verticals. Sofía, who previously served as Chief Corporate Development at AstroPay, will be responsible for developing and managing AstroPay’s relationships with global banking and payment service providers, working closely with them in partnership to ensure better engagement and innovative solutions that meet their needs and business goals.
United Fintech Expands New York Team with Two New Appointments
United Fintech, the fintech one-stop shop for banks, hedge funds, and asset managers, has expanded its team in New York with two new appointments. Mitch Vine joins the rapidly growing firm as Head of New Business Sales in the Americas and Danny Finnerty has been appointed as a Sales Executive. Mitch Vine has a strong track record of software sales to US-based financial institutions, having worked in senior new business sales roles in New York for the last five years at AlphaDesk, a partnership between London Stock Exchange Group (LSEG) and Refinitiv.
AQRU Strengthens Senior Leadership Team with Appointment of Crypto and Fintech Veterans
AQRU plc, a company specialising in decentralised finance (“DeFi”), announces today that Digby Try, Executive Director and Co-founder of AQRU, has been appointed Chief Commercial Officer of the Company. Mr Try has over 20 years of experience in senior management roles in the currency, payments and fintech sectors in both the UK and US. Prior to founding AQRU, Mr Try was Head of Global Sales at banking and payments platform OpenPayd, where he worked alongside many of the world’s leading crypto exchanges to deliver fiat banking rails to the crypto industry.
Leading Fintech Provenir Appoints Cognito as EMEA Agency of Record
Cognito has been appointed by Provenir, a global leader in AI-powered risk decisioning software, to lead its PR in EMEA. The appointment will see Cognito develop and deliver a strategic PR programme to boost awareness of Provenir’s offering and showcase its capabilities to fintech, financial services and technology audiences. Provenir helps fintechs, financial institutions, and payment providers make smarter and faster decisions by simplifying the risk decisioning process.
Neo-bank Major Niyo Appoints Ex-PayPal’s Kiran Kulkarni as their Head of Design
India’s leading consumer neo-banking platform, Niyo, announces the appointment of Kiran Kulkarni as its Head of Design. Kiran brings with him over 18 years of leadership experience in product and interfaces design. At Niyo, Kiran will take a lead in enhancing Niyo’s banking app’s experience for Niyo’s 5 million strong customer base. Prior to joining Niyo, Kiran was associated with Paypal as their Senior UX Manager, Consumer Experiences.
Serrala Appoints New CEO to Drive Further Global Growth
Serrala, a global financial automation and B2B payments software company, has appointed senior industry leader Hartmut Wagner as its new CEO. His appointment formally takes effect from August 15, 2022. The transition comes as part of the company’s mission to continue accelerating its ongoing global growth and innovation program, which has seen Serrala transform from a regional to a global player with over 100M USD ARR under current CEO Sven Lindemann’s leadership.
SunTec Appoints Chief Strategy and Transformation Officer (CSTO)
SunTec Business Solutions, the world’s #1 relationship-based pricing and billing company, announced the appointment of Pramod Perumparambil as Chief Strategy and Transformation Officer (CSTO). Pramod is based out of Bengaluru and will drive a company-wide strategy for accelerated business growth that will create long-term value for clients. Pramod will collaborate with business functions within SunTec to constantly evaluate market conditions, develop a business plan, and facilitate collaboration between key stakeholders.