20/06 – Weekly Fintech Recap
- Artificial Intelligence , Blockchain , Open Banking , Banking , Cloud
- 20.06.2022 09:22 am
Global Fintech Ascenda Announces Partnership with Banque Saudi Fransi to power JANA Rewards Program in the Middle East
Ascenda, the global loyalty technology company, announces a strategic partnership with Banque Saudi Fransi (BSF), the leading Saudi bank that has established itself as the most innovative financial services company in the region. This best-in-class loyalty solution will tap into BSF’s JANA Rewards Program premium customer base and unlock critical high-value spending across the entire banking relationship.
Ondato Partners With Basketballverse, A Web3 P2E Basketball Metaverse, To Prevent Money-Laundering
Ondato, a leading Know Your Customer (KYC) and Anti-Money Laundering (AML) platform, announced it will be providing remote identification services as part of a new partnership with Basketballverse, a Play-to-Earn (P2E) Web3 multiplayer basketball metaverse due to launch later in 2022. The partnership extends Ondato’s reach into the metaverse and the P2E gaming market. It provides Basketballverse with KYB (Know Your Business) investor ID verification and fully-compliant due diligence procedures to prevent money laundering.
BUNNI Partners with Nordigen for Direct Integration of Bank Account Information on Their Bookkeeping Platform
Accounting software provider BUNNI connects their users to up-to-date transaction information through Nordigen’s open banking platform. BUNNI is a Dutch startup, founded in 2019, with a mission to make bookkeeping simple and addictively fun. Their users are freelancers and small business owners, mainly those with a creative background. BUNNI makes administration easy for freelancers and small business owners with functions that cover timesheet management, trip registration, invoice and quotation creation, as well as bookkeeping.
Contactless Payments Witnessed a 6x Growth in the Last 3 Years: Visa and Worldline India Whitepaper
Visa, the global leader in digital payments, released a whitepaper in partnership with payments processor Worldline India on the growth of contactless payments adoption in India. The whitepaper, ‘India taps into a Contactless Future’, analyses India’s journey with digital payments infrastructure and contactless payments, highlighting the rapidly growing adoption across regions and sectors.
Mobileware Technologies Partners with OmniCard - an Omni-Channel Payment Solutions Platform
OmniCard, an omnichannel spending platform with a keen focus on youth and underserved consumers, has tied up with Mobileware Technologies for their interoperable UPI solutions for wallet-wallet/bank-wallet transactions. A market leader in UPI interoperability, Mobileware also offers scalable payment solutions to organizations that require digital payment transactions for seamless access to the payments ecosystem.
AB Enters Blockchain Collaboration with Allfunds
AllianceBernstein Holding L.P., a leading global asset management firm, and Allfunds Blockchain, the arm of Allfunds (AMS:ALLFG) specialising in blockchain technology, have announced a collaboration to adapt AB’s asset services activities to the blockchain ecosystem. Allfunds Blockchain’s dedicated funds technology offers the possibility to transform operational processes in the fund industry value chain and provide legacy platforms with efficiency, agility, accuracy, and the increased safety blockchain technology delivers.
APEXX Global Partners with Ryanair to Transform Payments Ahead of Post-COVID Travel Boom
APEXX Global, (“APEXX”), the multi-award-winning Payment Orchestration Platform, has partnered with Ryanair to transform the low-cost carrier’s legacy payments infrastructure as Europe continues to reopen borders and international travel returns to pre-Covid levels. APEXX’s pan-European payments solution will boost Ryanair’s conversion rates and lower local and cross-border transaction costs, helping Ryanair continue to deliver its market-leading low-cost delivery.
CommBank Partners with Mambu to Develop Unloan, the CBA Group’s New Digital Home Loan
Australia’s leading bank, Commonwealth Bank of Australia (CBA), has selected market-leading SaaS cloud banking platform Mambu as the technology foundation of its next-gen digital mortgage brand, Unloan. Unloan is set to be a revolutionary force in the Australian mortgage industry, with the new offering able to provide loan refinancing applications in as little as 10 minutes and a discount that increases every year for up to 30 years.
Swinto Partners with Currencycloud to Help Formalize Kosova Economy
Currencycloud, the experts in simplifying business in a multi-currency world, has partnered with Swiss-based Velanis AG to launch Swinto, a financial app that offers easy, accessible instant money transfers to Swiss-based Kosovars, at no charge to them. The people-friendly Swinto app cuts out the time and complexity that the Kosovar population usually endure when sending money home through Swiss-based banks, and means they will no longer be stung by high fees associated with other providers.
Watches of Mayfair Collaborates with TrueLayer to Tackle High Card Fees and Fraud Risks Through Open Banking
TrueLayer, Europe’s leading open banking platform, announces its collaboration with Watches of Mayfair, the luxury London-based watch and jewellery boutique, to build a checkout fit for modern e-commerce, by enabling customers to pay via instant account-to-account payments. Through this approach, Watches of Mayfair is delivering a smoother checkout experience for its customers, reducing the burden of heavy card fees and mitigating the risk of fraud and payment failure.
Delta Expands Cooperative Accounts Receivable Software Solutions with Biller Genie
Delta Payment Solutions, the management arm of Delta Payment Cooperative, announced that they have added Biller Genie as a software cooperative provider partner. Delta Cooperative Members utilizing QuickBooks, Xero or Accounting Suite software can now seamlessly integrate Biller Genie’s cloud-based platform with their Delta merchant or ACH processing accounts to automate Accounts Receivable billing and reconciliation without having to change their current system.
TISAtech Partners with Global Technology Leaders to Enable Fintech Access to Next-gen Services
FinTech benchmarking and innovation de-risking platform, TISAtech, has announced ground-breaking new partnerships with global technology leaders to bring emerging, high-growth FinTechs access to discounted and free next-generation services. Today’s announcement sees MasterCard, Amazon Web Service, R3, and Yodlee join TISAtech’s NEBULA Development Panel. NEBULA provides FinTechs with free or low-cost access to cutting-edge technologies – helping them to build and enhance their business propositions.
HES FinTech Joins Forces with Nordigen to Simplify Open Banking Adoption in Europe
HES FinTech has partnered with Nordigen to provide seamless and integrated end-to-end digital lending solutions with multiple financial providers to rejuvenate the existing European financial ecosystem. HES FinTech is an industry leader that connects financial institutions to intelligent lending platforms that help automate services and increase revenues. HES began in 2012 as a software vendor that would bridge the gap between the old and new worlds of lending through cutting-edge software that reduces operating costs and replaces manual tasks, streamlining front-to-back workflows.
MarketFinance Forms a Strategic Partnership with Funding Options
Leading fintech payments and credit company MarketFinance has partnered with Funding Options to join its real-time lending platform, Funding CloudTM. Funding CloudTM enables lenders to bridge the SME funding gap by providing businesses with the best finance options on the market, at speed and powered by technology. MarketFinance has strengthened its finance origination capability by developing a Lending API to embed its products in Funding CloudTM.
Pleo Selects Lucinity to Provide Trusted AI-powered AML Software as it Continues to Scale
Pleo, the Danish $4.7B FinTech used by 20,000 companies across Europe, has selected Lucinity as its central hub for Financial Crime Prevention after a rigorous selection process. Founded in 2015, Pleo offers smart spending solutions for forward-thinking companies through a streamlined approach to expense management. Pleo has been acquiring new customers exponentially, serving various industries and companies throughout Europe.
Digital Banking and Payments Start-up Revolut Partners with Vonage to Improve Customer Service Experience
Vonage, a global leader in cloud communications helping businesses accelerate their digital transformation, announced that global financial super app Revolut has selected the Vonage Contact Center (VCC) for Salesforce solution to improve communications with customers. The Vonage partnership will provide Revolut agents with the ability to route calls to one another to successfully deal with any customer issues and customise dashboards with real-time performance data and analytics.
CaixaBank and Microsoft Establish Innovation Laboratory for Artificial Intelligence Solutions and the Metaverse
CaixaBank and Microsoft have signed a strategic joint innovation agreement intended to promote the application of Artificial Intelligence (AI) to new financial solutions, as well as to create new and innovative work environments in the metaverse. The agreement will see the two companies start up an AI Innovation Lab, with particular involvement from CaixaBank Tech – the tech company launched in 2021 to advance the technological evolution of the CaixaBank Group.
PXP Financial Partners with Discover Global Network to Extend Payment Capabilities
PXP Financial (‘PXP’), the expert in payment services, data analysis and fraud, announced that it is partnering with Discover® Global Network, the payment brand of Discover and the world’s fastest-growing global payment card network. The partnership will allow merchants which use PXP’s point of sale or eCommerce solution to accept payments from the 280 million Discover Global Network cardholders around the world, who collectively represent $500 billion in spending opportunity.
New Partnership will Help Improve Access to Funding for Thousands of SMBs
Uplinq Financial Technologies (Uplinq) announced a new partnership with a leading small business funding provider, Reliant Funding (Reliant). Reliant will engage Uplinq’s revolutionary credit assessment platform to help it make more accurate decisions in situations where standard approaches do not suffice. Founded in 2008, Reliant’s aim is to help small businesses achieve big goals.
Virgin Money Partners with SurePay to Prevent Fraud and Misdirected Payments
SurePay, the leading Confirmation of Payee provider, announced that it has supported Virgin Money with the implementation of its UK Confirmation of Payee solution to protect consumers against fraud and misdirected online payments. Confirmation of Payee is a way of giving consumers greater assurance that their payments are being routed to the intended recipient and are not being accidentally or deliberately misdirected.
Aviva to Implement Open Banking Dashboard for Pension Clients with Bud
Following a rigorous selection process, Bug has been chosen by Aviva to provide the tech behind their new Open Banking dashboard. Aviva originally reached out earlier in the year to discuss the prospect of providing an Open-Banking-enabled dashboard to their workplace pension clients. The idea is that the dashboard will act as a new capability that Aviva’s clients can offer to their pension scheme members and correlates very closely with the insights coming from its ongoing age of ambiguity studies.
Temenos signs TS Banking Group
Temenos (SIX: TEMN) announced that TS Banking Group, an Iowa-based banking institution, has selected Temenos Banking Services delivered on the Temenos Banking Cloud for a complete front-to-back digital transformation. TS Banking Group will migrate the entirety of its banking operations to Temenos’ leading open platform for composable banking.
Scaleway expands its Cloud Ecosystem with the Launch of its New Line of PRO2 Instances
Scaleway, the cloud of choice, releases the latest generation of high-end production instances, PRO2, powered by 3rd Gen AMD EPYC™ 7003 processors. This processor is only available by complete cloud ecosystems, and Scaleway is the only European provider currently selling them. The new line offers flexible ratios of CPU to RAM to cover all customers' infrastructure needs.
Sumsub has Launched GPS-based Proof of Address Verification
Sumsub, a tech company that helps businesses stay compliant and fight digital fraud, has recently addedGPS-based verification to its Proof of Address solution. This new feature is primarily aimed at the fintech market, where companies are often obliged to verify user residence. By opting for GPS-based technology, rather than combing through physical documents, companies can verify addresses as quickly and conveniently as possible, keeping pass rates sky-high.
Gold-i Adds Binance to its Crypto Switch
Gold-i integrated its Crypto Switch™ 2.0 with Binance, one of the world’s leading cryptocurrency exchanges.The integration enables Gold-i’s institutional clients to trade Binance’s wide spread of digital assets and products with highly competitive pricing. Gold-i’s clients will be able to capitalize on Binance’s market-leading liquidity for investment and hedging opportunities.
Ceviant Launches Operations in Nigeria
Ceviant, the UK-based fintech platform offering transformative cash management solutions for emerging market businesses, announces it has launched in its first emerging market, Nigeria, as it goes live with its website. Ceviant is a financial technology company that delivers a broad range of treasury and trade solutions to a large and diversified client base, including corporates and multinationals, SMEs, importers, and exporters.
Plenitude Launches ClientSight, Financial Crime Client Risk Rating Solution
Plenitude, the Financial Crime, Risk and Compliance specialists launched Plenitude ClientSight, a comprehensive, cloud-based Client Risk Rating (CRR) solution. CRR is a key control for all Anti-Money Laundering (AML) regulated firms which forms part of an effective risk-based approach. CRR determines the level of Know Your Customer (KYC) and Client Due Diligence (CDD) that needs to be performed, and the level and frequency of ongoing monitoring activities across the client lifecycle.
CASHe Launches Instant Credit Line on WhatsApp; Name is All that one Has to Share
CASHe, India’s leading credit-led, AI-driven financial wellness platform announced that it has launched an industry-first credit line service using its AI-powered chat capability on WhatsApp to provide customers with a fast, seamless and convenient way to access instant credit lines by merely typing their name. The company further stated that it is the first fintech player to offer this revolutionary service that promises an instant credit limit without the need for any documents, app downloads or filling up tedious application forms.
Nucleus365, Launches to Market
Nucleus365, a UK-based payment institution offering a centralised platform for global payment processing, FX and connected banking, has launched to market at Money20/20. Nucleus365 offers an integrated payment solution for merchants seeking to access new and emerging markets. Regulated by the Financial Conduct Authority (FCA), Nucleus365 offers a unified platform for payment processing, back office treasury functions and reconciliation purposes covering banking and acquiring.
Temenos Launches a Dynamic NAV Oversight and Contingency Solution for Asset Managers
Temenos announced the launch of Multifonds Navigator, a simple and cost-efficient NAV oversight and contingency solution available to asset managers who outsource their fund accounting operations to third-party administrators. Powered by a robust exception-driven engine that drills down into the most intricate detail of fund structures, Multifonds Navigator provides an estimated NAV and IBOR valuation that is calculated across asset classes and multiple jurisdictions automatically.
Walken to Launch on Bybit Launchpad 2.0
Walken protocol, the market's first all-in-one product based on the Walk2Play-Win2Earn concept, is launchingin partnership with Bybit as the first listing platform for its token $WLKN. Bybit users can access the token on Launchpad 2.0, a freshly revamped platform for groundbreaking blockchain projects. Bybit users can commit BIT to subscribe to token allocations or participate in Launchpad 2.0's new lottery model for early-stage projects for a chance to win allocations of new tokens with USDT.
Wise Сompetitor Atlantic Money Rolls Out App to Early Sign-ups in the UK
Atlantic Money, the fintech that helps people send money globally, quickly and cost-effectively, is rolling out its product for the first time to early sign-ups in the UK. The firm expects to save its average customer around 75% annually when compared to Wise. This saving increases substantially when compared to other market players such as leading banks.
Payveris Introduces Loan Payments Service
Modern money movement leader Payveris, a division of Paymentus, launched Loan Payments®, a cutting-edge loan and debt repayment service with the widest array of real-time payment methods and channels available on the market. Loan Payments® is designed to help financial institutions meet rising consumer demand for payment methods and channels that are speedy, convenient and secure — all while reducing operational overhead, fostering better customer engagement and loyalty.
Merger & Acquisition
Enterprise Payment Leader TIS Acquires Forecasting Innovator Cashforce
Treasury Intelligence Solutions (TIS), a global leader in enterprise payment optimization, announced its acquisition of Cashforce, an AI-powered provider of cash management and forecasting solutions. This acquisition will see Cashforce's leading cloud solution - currently deployed at many of the largest and most sophisticated corporate treasuries in the world - become integrated with TIS' SaaS payments platform.
Nexi Announces Sale of Technology Businesses Worth €57M to Euronext
Nexi S.p.A. (“Nexi”) and Euronext Group (“Euronext”) announce the signing of the sale and purchase of the technology businesses currently powering MTS, Euronext’s leading fixed-income trading platform, and Euronext Securities Milan (formerly called Monte Titoli) by Nexi to Euronext (the “Transaction”). The purchase price will be paid in cash and amounts to c. €57m, subject to customary closing adjustments.
CleverTap Completes Acquisition of Leanplum
CleverTap, the world's No.1 retention cloud, announced it has completed its acquisition of San Francisco-based Leanplum, a leading multi-channel customer engagement platform. The acquisition, originally announced on 19th May, was closed in a record time of 3 weeks. With this acquisition, CleverTap has strengthened its footprint in the US and Europe. CleverTap will combine the product stack of both organizations and extend its world-class solutions and technology to all its customers and prospects worldwide.
PPRO Appoints Former Wayfair Finance Head as New CFO
PPRO, the leading provider of digital payments infrastructure, appointed former Wayfair Europe finance chief Rahul Raswant as its new Chief Financial Officer. Rahul takes over the position from Götz Möller, who is stepping down after more than three years at the company. Rahul brings diverse international experience to the role. Prior to joining PPRO, he was the European Head of Finance at Wayfair for three years.
Menlo Security Joins CrowdStrike’s CrowdXDR Alliance
Menlo Security, a leader in cloud security, announced that it has joined the CrowdStrike CrowdXDR Alliance, a unified and open Extended Detection and Response (XDR) coalition formed with security and IT operations leaders and best-of-breed solutions. As a member of the CrowdXDR Alliance, Menlo Security’s solution will be integrated into CrowdStrike Falcon XDR to provide protection from malware being delivered by Highly Evasive Adaptive Threats (HEAT).
payabl. Promotes Oleg Stefanets to Chief Risk Officer
payabl., the European payments expert that enables businesses to take payments easily, reliably and securely, announces it has promoted Oleg Stefanets to Chief Risk Officer. With vast risk management experience in the online payments industry, particularly in card schemes acquiring, merchant underwriting, mitigation of risk and fraud management, Oleg has showcased his expertise to achieve two promotions at payabl. in under two years.
Accelerated Payments appoints VP Carolyn McClure to advance Business Development across North America
SME funding provider Accelerated Payments has made another strategic appointment in North America as it beefs up its local presence in the region. Industry veteran Carolyn McClure has joined as Vice President of Business Development and will be responsible for implementing growth strategies and customer acquisition for alternative financing services during a time of global economic uncertainty.
Yapily Appoints New CTO to Accelerate European Innovation and Expansion
Yapily, the open banking infrastructure provider, announced that Noam Oren has joined the executive team as Chief Technology Officer. A seasoned tech industry veteran from Payoneer, Noam brings to Yapily over two decades of experience in cross-border payments, meeting the needs of enterprise companies, and scaling global organisations. In his last role, he contributed to the company's growth from the seed stage to a successful IPO in 2021.