20/05 – Weekly Fintech Recap
- Blockchain , Digital banking , Open Banking , RegTech , Payments , Banking , M&A Deals , People Moves
- 20.05.2022 01:25 pm
Yugabyte Partners With Temenos To Bring Cloud-Native Scale, Database Performance and Resilience To The Next Generation Of Banking Solutions
Yugabyte, the leader in open-source distributed SQL databases, has announced a technology partnership with global banking software market leader Temenos. Temenos, whose systems serve 1.2 billion people – one-third of the world’s banked population, has chosen YugabyteDB as a strategic database to power the core banking capabilities of Temenos open platform for composable banking. The Temenos open platform allows banks of all sizes to compose, extend and deploy pre-built banking services and the broadest set of banking capabilities at scale.
Visa and Adflex Partner on Click to Pay
B2B payments specialist, Adflex, announced the release of Click to Pay to its customers, in partnership with Visa. Based on EMVCo industry standards, the new technology provides an easy, smart and highly secure, password-free checkout. Adflex’s merchant customers can now use the Click to Pay solution to simplify their own customers’ payment experience. By making buying and selling easier, businesses can establish and maintain preferred partner status, growing trusted relationships throughout the supply chain.
Olea and Vayana Network Partner to Offer Cross Border Trade Finance Solutions in India
Olea Global Pte. Ltd., a digitised supply chain platform that empowers sustainable trade, and Vayana Network, India's largest trade finance platform have announced a partnership which plans to provide exporters and importers in India with timely access to alternative liquidity. Over the past few years, there has been growing interest in India as a manufacturing hub, as large multi-national corporations seek to diversify their global supply chains. In order to meet this increasing demand, businesses in India – especially micro, small and medium sized enterprises (MSMEs) – have been looking for quicker access to sources of capital.
RegTech Africa partners NayaOne on Maiden RegTech4Good Hackathon
Regtech Africa, a pioneer regulatory innovation service platform with an extensive reach across Africa and beyond, has partnered with NayaOne, a state-of-the-art digital sandbox, providing users access to the latest technologies and best in class fintechs, to host the maiden edition of the RegTech Africa Hackathon, tagged RegTech4Good Challenge. The RegTech4Good Challenge is a 3-day hackathon event focussed on creating innovative solutions and proof of concepts to address one challenge, tackling ‘Helping vulnerable customers’.
Bank of China Limited, London Branch Teams with LiquidX for Digital Trade Finance
Bank of China London Branch, a UK leader in international trade financing for over 90 years, has entered an alliance with fintech technology solutions provider LiquidX for accounts receivable and supply chain finance. LiquidX is providing Bank of China London Branch with a state-of-the-art customized trade finance platform with integrated back-office program administration and built-in distribution capabilities. The partnership enables Bank of China London Branch to provide innovative working capital programs to clients looking to optimize working capital and strengthen supplier relationships.
Ophelos Partners With Consumer Lending Fintech Plend for Ethical Debt Resolution
Ophelos, the technology firm building fairer debt resolution for businesses and their customers, announces it has partnered with Plend, an ethical consumer lender using Open Banking to provide affordable loans to those struggling with access to credit. Both pending B-corporations, Plend and Ophelos are closely aligned in their commitment to building fairer, more accessible financial solutions with social impact at their core.
ConsenSys and LivePerson Team Up To Create VillageDAO, The World’s First Decentralized Customer Care Platform
ConsenSys, a market-leading blockchain technology company, and LivePerson, a global leader in conversational AI, announced plans to create the world’s first decentralized customer care platform: VillageDAO. VillageDAO will focus on empowering Web3 brands to self-service issue resolution by enhancing community engagement. Community members will be incentivized to contribute to the platform and its partner brands.
TransUnion Enables Free Credit Education via the New Lowell App
TransUnion has strengthened its partnership with Lowell, one of the largest credit management companies in Europe, to provide their UK customers with a personalised toolset for monitoring and improving their financial standing via the Lowell app for free. Lowell aims to help make credit work better for all and is partnering with leading global information and insights company, TransUnion, to help people understand the importance of credit information, which is particularly important as UK consumers deal with the increased cost of living.
Mastercard Partners with Swedish Fintech Dreams to Deliver Sustainable Banking Solutions and Help Banks Tackle Climate Change
Dreams, the financial wellbeing platform and leader in engagement banking solutions has announced a strategic partnership with Mastercard to focus on delivering a suite of sustainable banking products for financial institutions designed to empower individuals to change their behavior for the better and take high-impact climate action.
Uplinq Announces Partnership with Ranqx to Accelerate Digital Lending to SMBs
Uplinq, the leading global credit assessment platform for small and medium sized business (SMB) lenders, strengthens its global reach with Ranqx, a digital SMB loan origination, decisioning and monitoring platform for lenders and banks. With the help of Uplinq’s unique and advanced technology, New Zealand-based Ranqx will be able to further accelerate lending to SMBs with increased speed and reliability, helping to boost revenue growth and access new opportunities.
Mindtree and Finastra Partner to Deliver Managed Services Payments Solutions in the Nordics, the UK and Ireland
Mindtree, a global technology services and digital transformation company, and Finastra, a leading financial technology provider, announced a partnership to bring Finastra’s Fusion Payments To Go payments technology to banks in the Nordics, the UK and Ireland, as a managed service. As part of the partnership, Mindtree will host Finastra’s proven payments solution in the cloud and handle the integration of the technology across the rest of the banks’ existing solutions, minimizing risk and boosting efficiency for users.
Phundex Latest Release Announced
Phundex announced the third release in 2022, in line with the product roadmap of regular enhancements planned for this year. Phundex continues to focus on client-driven design and functionality. Regular review and feedback from clients ensure that our enhancements match our client requirements. Based on years of experience, Phundex simplifies financial administration and transaction management by streamlining processes to a centralized location, dramatically reducing time, complexity and costs through better connectivity and collaboration.
Kaiko Announces Launch of DEX Liquidity Pool Data
Kaiko, the leading cryptocurrency market data provider for institutional investors and enterprises, announcedthe launch of its decentralized (DEX) liquidity pool data feed. This move, covering Uniswap, SushiSwap, Curve Finance and Balancer, brings much-needed transparency to DEX liquidity pools for institutional investors and financial institutions. Today’s announcement follows the launch of Kaiko’s DEX data feed in November 2021, which also covers trade data for the four main DEX exchanges.
Mollie Launches In3 Buy Now, Pay Later Payments
Mollie, one of the fastest-growing payment service providers in Europe, and in3, a leading Dutch Buy-Now-Pay-Later (BNPL) fintech business, announced its long-term partnership to offer merchants access to in3’s BNPL payment method in the Netherlands. Merchants located in other countries can also accept this new payment method for their Dutch customers. The partnership includes the possibility of future expansion in Germany and additional European countries too.
CoinCorner Announces World First Bitcoin Lightning Card
CoinCorner, a global leader in Bitcoin and Lightning services, announced The Bolt Card - the world's first contactless card, powered by near-field communication (NFC) and the Bitcoin Lightning Network. Using a standard NFC card, the Lightning Network and LNURL, The Bolt Card enables a user to simply tap their card on a point of sale device displaying a Lightning invoice and the Lightning payment is made in the background, taking just seconds to complete. This transaction takes place over the Bitcoin Lightning Network, with not a single legacy payment system used.
Splitit Launches an Innovative Installments-as-a-Service Platform and Announces OCM as the First Merchant to Fully Adopt the Technology
Splitit unveiled a new way to drive installment payments through its merchant-branded Installments-as-a-Service platform. Instead of originating new loans, Splitit taps existing consumer credit on payment cards to simplify the checkout experience embedded into the existing payment flow. While merchants are experiencing increased sales with legacy BNPL, they also face several challenges: losing control of consumer relationships, poor checkout conversion due to consumer friction and low credit approval rates, and heightened regulatory scrutiny.
MultiPay Global Solutions Launches Instalments Payment Services Powered by Mastercard
As consumers look to spread the cost of major purchases, the use of installment payments shows little signs of slowing down. In Ireland, its continued growth in popularity means that the total amount spent is expected to increase 10 times between 2020 to 2028, to be worth over €5bn. To date, the option of paying via an installment plan direct from a payment provider has largely been limited to online purchases or post - transactions with the card issuer. However, with the MultiPay and Mastercard tie-up, retailers across the country can now offer the choice in-store.
Temenos Launches the CEO Navigator, a Data-driven Value Advisory Service for Bank Executives
Temenos launched Temenos CEO Navigator, a subscription-based customer value benchmarking and advisory service that gives C-level banking executives unique insights on how to optimize their technology investments to drive business value. The consultative, survey-based strategic service enables banks to discover the drivers of performance and value creation, and provides the business and IT metrics they need to track and improve profitability.
Merger & Acquisition
Retention Cloud Leader CleverTap Acquires Leanplum
CleverTap, the world's No.1 retention cloud, announced it has signed definitive agreements to fully acquire San Francisco-based Leanplum, a leading multi-channel customer engagement platform, for an undisclosed amount. This acquisition will make CleverTap a truly global company with development centers and customer-facing and success teams across North America, Europe, Latin America, India, South East Asia and the Middle East.
Sage Announces the Acquisition of Futrli
Sage, the leader in accounting, financial, HR, and payroll technology for small and medium-sized businesses (SMBs), announces it has completed the acquisition of Futrli, the UK’s premier cash flow forecasting software solution for SMBs and accountants. The move deepens Sage’s commitment to supporting accountants with complete end-to-end proposal-to-advisory services as the industry prepares for Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA).
Brim Financial Taps Marqeta’s Arthur Zhao as Chief Financial Officer
Brim Financial, one of the fastest-growing fintech companies and a licensed credit card issuer, announced that Arthur Zhao, former Marqeta finance executive, has joined Brim as its chief financial officer. Zhao’s addition is part of the expansion of Brim’s executive team to support market demand for the company’s flexible and scalable embedded finance solutions, including Brim’s platform-as-a-service (PaaS) and credit card infrastructure.
P2P Platform LenDenClub Appoints Mudit Agarwal as Chief Business Officer - New Business Initiatives
LenDenClub, India's largest Peer-to-Peer Lending platform, with its vision to drive financial inclusion, is building a formidable leadership team as it prepares for its next growth phase, chasing an ambitious goal of $1 billion in loan disbursals. To this effect, the RBI registered NBFC-P2P has made a key leadership appointment and hired CA Mudit Agarwal as its first Chief Business Officer - New Business Initiatives.
Atom Announces Appointment of Andy Sturrock as CTO
Atom has appointed Andy Sturrock as the bank’s new Chief Technologist. Andy joins Atom from BP plc, where he most recently ran the company’s Digital Consumer Channels and Offers teams, including the BPMe app and loyalty schemes. During his time at BP, Andy introduced a number of new methodologies and technologies including Agile, DevOps and the cloud, first in the trading business, before rolling them out across the entire company.
DivideBuy Appoints ex-Barclaycard & GE Capital Director Teresa Byrne to Chief Commercial Officer
DivideBuy, the leading UK point-of-sale (POS) finance pioneer, has announced the appointment of Teresa Byrne to Chief Commercial Officer to drive its ongoing growth strategy of enhancing platform automation and product innovation. With its unique business model of being both tech solution provider and lender, DivideBuy’s latest senior appointment demonstrates its commitment to providing consumers in all income groups with affordable POS finance based on responsible lending practices, as well as giving merchants the ability to offer more consumer payment choice through its highly agile, automated LendTech platform.
Global Fintech Leader Zafin Names Industry Veteran Dave Revell as Chair of the Board of Directors
Zafin, the global leader in SaaS cloud-native product and pricing lifecycle management for financial services, announces Dave Revell has been appointed the company’s new chair of the board of directors. Revell, a Zafin board member since 2019, is a 35-year experienced board member and senior executive with experience within the financial services, telecommunications and information technology sectors.
Gresham Technologies appoints Senior Sales Executive to drive US growth
Global fintech Gresham Technologies plc (Gresham) has announced the appointment of Rob McGowan as Senior Sales Executive in North America as part of the company’s continued expansion in the US and Canada. Bringing more than 20 years of fintech experience, Rob’s expertise spans the fundamental areas of reference data and reconciliation transaction reporting, alongside corporate actions, treasury confirmations, cash management, and intra-day liquidity.
MICT Appoints Sir David Trippier to its Board of Directors
MICT, Inc. announces the appointment of Sir David Trippier as a non-executive member of its Board of Directors. Sir David has served as Chairman or director of numerous private and public companies, including as Chairman of London Stock Exchange-listed stockbrokers, W H Ireland Group plc, Chairman of Cambridgeshire Horizons and Non-Executive Director of Granada Television. Prior to this, Sir David served in various ministerial positions in the United Kingdom Government between 1983 and 1992, has become a Member of Parliament of the United Kingdom in 1979.
Natasha Powell Joins BCB Group as Chief Compliance Officer to Oversee Compliance for Institutional Digital Assets
BCB Group, the leading provider of business accounts and trading services for the digital asset economy, announced the appointment of Natasha Powell as Chief Compliance Officer. Natasha will lead the firm’s initiatives to fulfil the highest standards in financial services with regulatory risk management. Formerly a European regulatory policy expert at the Financial Services Authority (the precursor to the Financial Conduct Authority) Natasha went on to spend 10 years in senior compliance roles in RBS, Schroders and Barclays Capital.
Global Fintech Jifiti Welcomes David Chubak, Former Citi Retail Banking CEO, to Board
Global white labeled BNPL facilitator, Jifiti, announced that David Chubak, former CEO of Citi Retail Banking in the US, has joined the company's Board of Directors. Chubak is one of the nation's most senior retail bankers, having overseen Citi's retail division that operated 78 million co-brand and private label credit card accounts and $92 billion in purchases annually.
Temenos Appoints New President for Americas
Temenos AG announced the appointment of Roman Bartik as President Americas to accelerate and scale expansion in the region. Roman will be responsible for all day-to-day operations, strategy and profitability in North and South America, effective immediately. Roman joins the company’s management board and reports to Temenos’ President and Chief Revenue Officer, Erich Gerber.