22/04 – Weekly Fintech Recap

  • Blockchain , Digital banking , E-Commerce , Open Banking , Payments , Banking , FinTech StartUps , IT Innovations , M&A Deals , People Moves
  • 22.04.2022 12:13 pm

Partnerships 

Citi Collaborates with Ebanx in Latin America

Citi's Treasury and Trade Solutions (TTS) announced a contract with global payment processor Ebanx to provide an end-to-end digital collection solution (eCommerce) for Citi's institutional clients in Latin America. Citi's clients will be able to accept over 100 consumer payment alternatives online in 11 countries (Argentina, Colombia, Costa Rica, Ecuador, Dominican Republic, El Salvador, Guatemala, Panama, Paraguay, Peru and Uruguay).

FinSS Global Announces Partnership with Uplinq, the Global SME Credit Assessment Platform

Australian technology and digital transformation firm, Fintech Solutions and Services Global (FinSS Global) announced a partnership with Uplinq, the first global credit assessment platform for SME lenders. The partnership signifies the technology companies’ joint mission in helping banks and lenders deliver lending innovation and financial inclusion for their small business customers, the backbone of economies, across the globe.

Banca Sella Goes into Partnership with Fintech Fido

Speeding up the opening of an online-current account, significantly reducing execution time  and manual control activities thanks to an Artificial Intelligence-based algorithm. That is the  goal of Banca Sella, thanks to the partnership signed with the Italian fintech Fido, which will  simplify the onboarding of customers by ensuring effectiveness, quickness and security of the  process. Banca Sella has chosen the innovative solution developed by Fido, making it possible to  digitize the control operations governing the onboarding of a customer, such as, for example,  checking his identity or the absence of formal errors, as well as intercepting any anomalies in  advance.

Ayoconnect Partnership Delivers New Ticketing and Travel Productivity Apps

Ayoconnect, Southeast Asia's largest open finance platform, has partnered with PT. Kereta Api Indonesia (KAI), the state-owned sole operator of public railways in Indonesia. The partnership aims to make life more convenient for the six million users of the KAI Access mobile app which now includes a host of  new ticketing and productivity on-the-go features. The partnership initially embeds three of Ayoconnect’s open finance services into the KAI Access app allowing users to buy cellular phone credits, internet data subscriptions, and electricity tokens - the three most sought after products for passengers.

Chargebee Brings Market-leading Solution to SaaS and Subscription Businesses in India, Partners with Razorpay

Chargebee, the leading subscription management platform, announced it has partnered with Razorpay, India’s leading full-stack financial solutions company, to offer subscription billing services in India. The partnership highlights Chargebee’s commitment to customer growth and globalization with expanded capabilities to navigate complex business issues in India and beyond. Chargebee’s expansion into India comes as the country has become one of the fastest-growing SaaS markets in the world. Indian SaaS companies are expected to reach $30 billion in revenue by 2025. 

Blockpass Partners with EMURGO to Provide On-Chain KYC to Cardano Blockchain Ecosystem

Blockpass, a leading digital identity verification provider, announced a strategic partnership with EMURGO, a founding entity of the Cardano blockchain and its official commercial arm. Through this collaboration, Blockpass will add Cardano crypto-addresses to the Blockpass App, and offer On-Chain KYC(TM) services for Cardano ecosystem projects, optimizing their KYC requirements. In addition, Blockpass and EMURGO will be holding a 'Fireside Chat' and other collaborative marketing initiatives to increase awareness of this partnership and foster the overall growth of the Cardano community.

Singtel Partners UOBand ADDX on Largest Foreign Currency Digital Bond in Singapore

Singtel, as part of its commitment to support sustainability and the digitalisation of the financial ecosystem, announced the successful pricing of Singapore’s largest foreign currency digital bond. The US$100 million, five-year digital Sustainability-Linked Bond (SLB) is a partnership by Singtel’s wholly-owned subsidiary, Singtel Group Treasury (SGT), with UOB and ADDX. The digital SLB will be drawn down under SGT’s existing S$10 billion Euro Medium Term Note Programme, guaranteed by Singtel. The SLB will carry a US$ fixed coupon rate of 3.56% per annum and will mature on 27 April 2027.

Moneyhub Teams Up With Wyzr to Automate Financial Planning

Moneyhub, the market-leading Open Data and payments platform, is partnering with financial technology platform Wyzr to enable automated financial planning, a first for the UK market. Powered by Moneyhub’s Open Banking technology and Wyzr’s artificial intelligence algorithms, the Wyzr platform will kick off its pilot later this month making it easy for consumers to analyse past and current spending and save for the future. With data gathered via Moneyhub APIs and sorted through its categorisation engine, Wyzr users can label transactions, giving them 360-degree vision of their finances.

 

Launches 

Currency.com establishes a presence in the United States of America

Currency.com, the rapidly expanding global cryptocurrency exchange, announced its entry into the US market. Currency.com US, a FinCEN-registered Money Services Business, will enable US residents to purchase, store, and invest in popular cryptocurrencies. Currency.com will be available in all 50 states in the United States. Clients in New York and Hawaii will soon be able to use the exchange.

Marqeta Enhances its Card-issuing Platform with a Risk Management Suite

Marqeta has launched a comprehensive solution suite aimed at assisting customers in optimizing their card programs and taking control of end-to-end risk management (NASDAQ: MQ). This enables Marqeta customers to concentrate on business development while RiskControl handles risk, compliance, and fraud throughout the cardholder's lifespan. Real-Time Decisioning, a strong new fraud protection tool, enabling card programs to set fine-grained transaction rules, hence assisting in the reduction of payment fraud.

Phundex Latest Release of Platform and Pathway Enhancements

Phundex announced its latest release of Platform and Pathway enhancements. This is the second release in 2022, in line with the product roadmap of regular enhancements planned throughout 2022. Since building its beta platform in 2020, Phundex has focused on client driven design and functionality. Its Innovation Management System was co-designed with a large university incubator client on our beta platform. Client feedback on data and user permissions on the beta platform led us to create our new workflow collaboration platform during the summer of 2021.

SALT Launches Crypto Lending-as-a-service; Announces Cion Digital as First Partner

SALT and Cion Digital announced a strategic partnership to bring SALT’s crypto lending solutions to 5,000+ auto dealerships in the US. The announcement marks the launch of SALT’s Embedded Crypto Lending Service, which will enable financial service providers and fintech platforms to rapidly deploy crypto financing solutions. Having launched in 2016, SALT was the first platform to offer crypto-backed loans and has since been focused on optimizing its lending technology and servicing operations.

Qualco UK goes live with Open Banking Solutions

Qualco UK went live with two new solutions, featuring open banking technology delivered by a number of key partners. Working with Ecospend and Themis Global, Qualco UK introduced account-to-account payment options, under a white label model, for new client, Simon Jersey Limited. The innovative approach includes letters and emails being sent to customers, containing a unique QR code, which when scanned, opens up a simple and secure payment journey.

Recognise Bank Launches Easy Access Business Savings Account

Challenger bank, Recognise Bank, has launched an Easy Access Savings Account for hard pressed small businesses paying 0.55% AER. Recognise says SMEs could be missing out on hundreds of pounds in potential interest income by not using a business savings account, instead leaving their cash in business current accounts that don’t pay any interest. Research by Recognise Bank found that the average cash surplus balance among SMEs is £75,000. However, nearly half (49%) of the businesses surveyed left their cash surplus in a business current account – which usually pay no interest at all – while just under one in five SMEs (18%) used a business savings account offered by their main business bank account provider.

Contis Launches New Processing Solution to Boost European Expansion

A new processing solution from leading banking-as-a-service provider (BaaS) Contis is set to supercharge the company's growth in the UK and EEA listed countries, enabling client expansion into new geographies. The solution will be available across both small and large banks, fintechs, businesses and non finance players in the gaming and gifting sector. The new solution, called process.pay is card scheme certified by Visa and Mastercard to process any credit, debit and prepaid card transactions globally. The technology will form part of Contis’s evolution of PayTech solutions as it continues to evolve in line with the changing needs of the payment sector for the digital age.

Medius Launches Radius, a Comprehensive New Partner Program for ISVs

Medius, a leading provider of accounts payable (AP) automation solutions, announced the launch of Radius, a new, improved, and comprehensive program for Independent Software Developers (ISVs). Medius has named expense management provider Rydoo as its first official ISV member under the new program banner. Medius's suite of products automate the process of receiving, handling, approving, and paying an invoice, and simplify the onboarding and managing of vendors, enabling organizations to better manage spend, reduce risk and fraud, and improve processes.

Swiss Fintech Startup keycount Launches the First NFT Crowdfunding Project in Switzerland

Today the Swiss fintech startup keycount announces its  NFT crowfunding project. By enabling the community to actively participate and benefit from  the companys success, keycount aims to include interested early adopters in the product  and company development. Keycount is offering 295 NFTs that will be split into three categories. Each NFT encompasses a  stock option enabling the owner to buy shares for the current valuation of 4.25 million EUR. In  total, the startup offers its community approximately 5% of the company's shares. As one of the first companies creating utility for NFTs such as stock options, keycount is  pioneering new ways of fundraising and community involvement for startups.

AstroPay Launches New Feature – Transfer – to Make Digital Money Transfer Even Easier

AstroPay, the global leader in online payment solutions, has launched a new in-app feature, Transfer, which enables users to transfer money to even those contacts who don’t have an existing AstroPay account as long as they are in the same country. Available in over 150 countries, this new functionality makes transferring money between digital wallets even easier and is commission free. A user can select a contact from the AstroPay App and if that recipient doesn’t have an existing account, they will simply receive a code by text message and have an account created, linked to their telephone number, so they can withdraw the money.

QuantCube Launches Port Congestion Indicators

Real-time economic intelligence provider, QuantCube Technology, announced that it has added three new real-time economic indicators to the QuantCube Macroeconomic Intelligence Platform – tracking congestion in three of the biggest ports in the world: Shanghai, Los Angeles/Long Beach and Rotterdam. The QuantCube Port Congestion Indicators aim to provide an early signal about problems in global supply chains.

Monneo Launches Crypto Payments Processing for Merchants

End-to-end payment ecosystem provider, Monneo, has simplified the process of making and receiving online cryptocurrency payments. Thanks to its recently launched service, Monneo is enabling online merchants to accept cryptocurrency payments natively through their websites. The new solution converts the cryptocurrency payment into its equivalent fiat currency value and then Monneo settles it to the IBAN of the merchant, also provided by Monneo in a time and cost-effective manner.

 

Merger & Acquisition

Utimaco Acquires Celltick to Expand its Solutions

Utimaco, a leading global provider of Cybersecurity and Compliance solutions, announced that it has signed a Share Purchase Agreement with Celltick, a global leader of Public Warning Systems (PWS), Mass Notification Systems (MNS), and the world’s largest CBC (Cell Broadcast Center) provider. Recent natural disasters, health crises and military conflicts have put a spotlight on the need for efficient PWS, which allow public authorities to quickly alert the population and let them know of an ongoing crisis or imminent threat. Spearheaded by the United States, many countries have introduced legislation over the past decade, requiring the implementation of digital PWS.

PayU Strengthens Latin America Foothold with Fintech Acquisition and Investment in Colombia

PayU, the leading fintech and online payments provider across high-growth emerging markets, announces that it has strengthened its presence in Latin America with a strategic acquisition of Ding, a Colombian fintech specialising in online payments. In addition to this, it has also participated in a global financing round alongside other investors worth $46 million, for Treinta, the Colombian super-app that helps Latin American SMEs digitise their processes through online services, including accounting, inventory management and trading solutions.

AppTech Payments Announces its Intent to Acquire Hothand

AppTech Payments Corp. a Fintech company powering commerce experiences, announced its definitive agreement to purchase Hothand Inc. (“Hothand”), a patent holding company which owns the intellectual property rights to a wide array of mobile credit/debit transaction and mobile search, location, offer, and payment fields. AppTech will acquire Hothand’s portfolio of twelve patents focused on the delivery, purchase, or request of any products or services within a specific geolocation and time provided by a consumer from any cell phone anywhere in the United States.

 

Job Moves

Cardlytics Appoints Jose Singer as Chief Product Officer

Cardlytics, an advertising platform in banks’ digital channels, announced the appointment of Jose Singer as its Chief Product Officer. Beginning May 16, Singer will succeed Michael Akkerman and lead Cardlytics’ overall product strategy, including the evolution and expansion of its advertising platform capabilities and user interface. He will also be closely aligned with sales and engineering leadership, striving to deliver a seamless, best-in-class product platform and go-to-market strategy that exceeds partner expectations and expands the overall adoption of Cardlytics’ solutions by advertisers.

Finastra Appoints Isabel Fernandez to Accelerate Lending Business Growth

Finastra announced the appointment of Isabel Fernandez, a highly regarded senior banking and technology executive, to the role of EVP for the company’s Lending Business Unit, effective May 2022. Isabel will be part of Finastra’s recently expanded leadership team as the company pivots to a ‘Business Unit’ led model. She was most recently at ING Bank where she was a Board Member and Global Head of Wholesale Banking, overseeing growth in Lending, Financial Markets and Transaction Services, including Payments & Cash Management.

LiquidityBook Adds Bryon Cole as Director of Buy-Side Sales

LiquidityBook, a leading provider of cloud-native buy- and sell-side trading solutions, announced the hire of Bryon Cole as Director of Buy-Side Sales. He will be based in the firm’s New York office and report directly to Head of Global Buy-Side Sales James Baxter. In this role, Mr. Cole will be responsible for driving the continued expansion of LiquidityBook’s buy-side client base as the firm pursues its global growth strategy. He will also play an instrumental role in expanding the functionality of LBX Buy-Side, LiquidityBook’s cloud-based POEMS (portfolio, order and execution management system).

Fintech Dreams Bolsters Customer Acquisition and International Expansion Strategy with 3 New Senior Hires

Dreams, the financial wellbeing platform and leader in engagement banking solutions announces the appointment of Russell Prince-Wright, Jason Curtis and Peter Hedlund, to join Dreams’ senior management team as Regional Directors and drive the company’s B2B expansion. Collectively, Russell, Jason and Peter bring more than 70 years of enterprise sales and management experience, having occupied a number of senior positions at both global corporations and fast-growing technology startups. 

LPA Expands Scandinavian Presence with New Hire

LPA, the capital market technology and advisory firm, announced the hire of Kristian Liiv as the new Regional Manager for Scandinavia. In his role, Kristian will lead client relationships in Norway, Sweden, Finland and Denmark for LPA, and be responsible for the business development, strategy, and growth of LPA’s activity in the region. Kristian will be based in Stockholm, Sweden and will work to help LPA’s clients transform and digitise their activity, maximise productivity and ensure regulatory compliance.

Legatics Hires David Biggs from Farewill as CFO

Legatics, the leading legal transaction management platform, has appointed David Biggs as Chief Financial Officer. Biggs joins Legatics from Farewill, the digital will and probate provider, and he will work with the board and the growing executive team to help scale the business.  Biggs has over 15 years of experience as a chartered accountant, and has spent the last 12 years working with leadership teams to effectively scale fast growth technology businesses. Biggs has also served as an advisor on the boards of startups and scaleups for 6 years.

Michael Shing joins XREX as Director of Risk Management

Blockchain neo fintech company XREX Inc. announced that Michael Shing onboards as its Director of Risk Management. Shing spent more than a decade with the Federal Reserve branches in San Francisco and New York, first as an analyst then a senior risk specialist. Prior to his time with the Fed, Shing held several positions in the private sector in New York and Hong Kong. Shing joins at an important point of the company’s journey as XREX expands its markets and financial solutions to more users in India, Africa, the Middle East, South America, Southeast Asia, and beyond.

SH Payments Announces Irmantas Kamienas as CEO to Lead European Expansion

SH Payments, a leading provider of tier one banking and payments services, has announced the appointment of Irmantas Kamienas as the company’s new CEO. Kamienas joins SH Payments following a 12-year tenure at SEB, a leading financial group with operations across Europe. Kamienas will be tasked with growing the company’s client portfolio, bringing his extensive experience and connections to drive the business forward. Key areas for growth include the company’s specialist expertise in payments, treasury, and asset management experience.

Austin Adams Joins Asa Board of Directors

Asa connects financial institutions with vetted fintechs for end users in a secure, compliant and easy to implement marketplace. The company announced that 40-year banking industry veteran Austin Adams has joined its board of directors. In this role, Adams is helping drive the company’s strategic growth plan. Adams most recently retired as executive vice president and corporate CIO at JP Morgan Chase. During his time at Chase, Adams managed more than 28,000 employees and spearheaded a $5B IT insourcing program, the largest ever completed in financial services.

SunTec Appoints Clinton Abbott as Head of Product Management

SunTec Business Solutions, the world’s #1 relationship-based pricing and billing company, announced the appointment of Clinton Abbott as the Head of Product Management. His appointment comes at a crucial time when countries are emerging from the pandemic and organizations across various industries are grappling with customer delight and retention in a fragmented, dynamic, and fiercely competitive marketplace. Against the backdrop of SunTec’s product leadership in the billing and pricing space as well as thought leadership and evangelization of digitization for business benefit virtually since inception, the reality of today’s market presents manifold opportunities for SunTec.

AppTech Payments Appoints Julia Yu as Senior Vice President of Corporate Finance and Accounting

AppTech Payments Corp. a Fintech company powering commerce experiences, announced the appointment of Julia Yu as Senior Vice President of Corporate Finance and Accounting. As the Company begins to expand payments globally, Julia will oversee AppTech’s accounting, finance, and reporting functions. In this new position, Julia will play an integral role in the Company’s financial planning and strategy activities. Julia brings to AppTech over 20 years of finance, accounting, compliance, and SEC reporting experience from various publicly traded companies. 

Opsmatix Appoints Finance and Technology Leader Dan Kramer as CEO

Opsmatix, an innovative fintech providing AI-powered  unstructured communications management solutions, announces the appointment of New York-based  seasoned finance and technology executive Dan Kramer as CEO. Dan replaces Justin Forrest, who is now  the global COO of the company. Dan has held senior leadership roles at BNY Mellon, JP Morgan, Deutsche Bank, Merrill Lynch, and  Morgan Stanley. Most recently he was Vice-Chair at Calastone. His extensive global leadership  experience in building and executing go-to-market strategies for new and existing products gives him a  unique understanding of client needs as Opsmatix targets global growth in 2022.

LiquidX Names Dominic Capolongo as Chief Revenue Officer

LiquidX, the global technology solutions provider and trusted strategic partner for working capital, trade finance, and insurance optimization, has named industry veteran Dominic Capolongo as its Chief Revenue Officer (CRO). In this executive role, Mr. Capolongo will lead initiatives to further scale revenue, accelerate global market adoption, and deepen customer engagement as LiquidX moves into its next phase of expansion. The company’s best-in-class portfolio of technology solutions enable its clients to overcome the barriers imposed by time-worn manual processes and outdated legacy technologies.

Paycast appoints Claire Van der Zant as Managing Director

Paycast, the marketplace payment engine and second venture of UK based fintech group SPG, has recently announced the appointment of Claire Van der Zant as Managing Director. Claire has been with the company since its very inception in her previous role as Paycast’s Customer Director, playing a key role in the company’s journey to make buying and selling online safer for everyone. In her move to Managing Director, Claire will continue to support Paycast’s sales, partnerships, marketing and customer success teams in achieving their business priorities, while also working closely with product and engineering teams to ensure Paycast continues to provide a seamless payment experience for marketplaces and their users.

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