26/09 – Weekly Fintech Recap

  • Blockchain , Open Banking , Personal Finance , FinTech StartUps , M&A Deals , People Moves
  • 26.09.2022 09:00 am


Capchase Partners with Sastrify to Offer ‘Save Now, Pay Later’ Program

Capchase, a leading provider of non-dilutive financing to SaaS companies, has announced a partnership with Sastrify, the global automated SaaS procurement platform, to offer a “Save Now, Pay Later” program to high-growth customers. This program will enable Sastrify's customers to extend their runways, cutting their SaaS and cloud costs by up to 30% in their yearly licenses, while maintaining flexible payment terms.

iDenfy Introduces a New Partnership with the European Capital of Democracy (EcoD)

The global identity verification and fraud prevention service provider, iDenfy, announced a new partnership with EcoD NPO, a non-profit organisation founded by the Innovation in Politics Institute, aiming to improve democratic politics. iDenfy's verification solution will ensure applicant safety. Remote identity verification is becoming a critical element of the onboarding process for numerous sectors, according to iDenfy.

Vitesse Partners with Insurance Goliath for 'Faster Claims Payments' Solution

LIMOSS and Vitesse, supported by Lloyd’s and the Lloyd’s Market Association (LMA), announced the signing of contracts for a new central market service, Faster Claims Payment (FCP). FCP is a transformative payment solution that allows Delegated Claims Administrators (DCAs) for Lloyd’s binding authority business to make payments on request, drawing on managing agent funds directly, removing the need for lost funds and the associated cash calls for funding deficits.

Finastra and Visa Announce Global BaaS Offering Integrating Visa Direct

Finastra and Visa announced a Banking as a Service (BaaS) collaboration to co-develop new functionality on its Payments Hub solutions and implement Visa Direct – which provides access to more than two billion accounts through push-to-account offerings. The new capability will give Finastra’s bank customers around the world access to cross-border payout capabilities for small- and medium-sized businesses, and individuals, in multiple currencies and countries.

PayRetailers and Crypto Exchange XBO.com Partner to Expand Operations in LATAM

PayRetailers group, experts in cross-border payments with more than 250 payment methods operating from 9 offices throughout Latin America, partners with XBO.com, the cryptocurrency exchange making the benefits of crypto more accessible to everyone, to boost the platform’s expansion in the continent. XBO.com recently launched its platform that merges gaming-inspired UI and top security solutions to offer traders a user-friendly and reliable alternative to existing exchange platforms.

TerraPay and NPCI International Collaborate to Drive Seamless Merchant Payments via UPI-enabled QR Codes

In a strategic move to further strengthen its cross-border payment solutions, TerraPay, a leading global payments infrastructure group announced its partnership with NPCI International Payments Limited (NIPL), the International arm of National Payments Corporation of India (NPCI). TerraPay's agile infrastructure and the UPI network will allow Indian customers and merchants with an active UPI Id to make and accept cross-border payments easily.

Fondy to Offer Merchant Customers Virtual IBAN Accounts and More Through New ClearBank Integration

ClearBank, the enabler of accounts, real-time clearing, and embedded banking for financial institutions, announced its integration with Fondy, a one-stop payment platform, to provide e-commerce companies with an efficient, easy-to-implement shop payment solution. This solution will allow companies to manage and control their money flow – from acceptance of payments, IBAN accounts, and payouts to third parties.

SWK Bank and Cloud Banking Platform Mambu Partner for Fast and Flexible Banking Services

One of Germany's leading direct banks, SWK Bank based in Bingen am Rhein, has partnered with the leading cloud banking platform, Mambu to offer new services to the DACH market. The companies are bundling their complementary service offerings in Banking as a Service (BaaS) and Software as a Service (SaaS), to create a new joint offering for B2B customers. SWK Bank's modular personal loan and deposit services and Mambu's cloud-native banking platform are part of the agreement.

FV Bank Announces Strategic Integration with Circle

FV Bank, the U.S. licensed global digital bank that offers a vertically-integrated suite of traditional and digital asset banking and custody services to fintech and blockchain firms, has announced the launch of a new service for FV Bank account holders: the ability to instantly and automatically convert Circle’s USD Coin (USDC) into USD at the moment of deposit. Circle Internet Financial Ltd. is a global financial technology firm and issuer of USD Coin (USDC) and Euro Coin (EUROC).

Emburse Selects BillingPlatform as Global Billing and Revenue Management Solution

BillingPlatform, the enterprise monetisation platform for today’s innovative business models, announced that Emburse, a global leader in spend optimisation solutions, has selected its Billing, Revenue Recognition, Collections and Customer Portal products. BillingPlatform was selected for its robust, enterprise-ready billing and revenue management capabilities and ability for business and finance teams to configure the platform to suit Emburse’s specific needs.

Genesis Global Selects ESPROW to Test High-Throughput FIX Infrastructure

Esprow LLC, a leading global provider of automated testing and compliance solutions for the financial industry, announced that Genesis Global (Genesis), the low-code application development platform purpose-built for financial markets organizations, has adopted ESPROW’s Enterprise Testing Platform (ETP) to automate testing of their FIX connectivity and message processing.

Digital Bank FairMoney Partners with Oradian to Accelerate Market Growth

FairMoney, a credit-led mobile banking platform for emerging markets in Africa and Asia, has partnered with Oradian, a cloud-based core banking system, to power its next stage of growth and product innovation.Oradian services over 10 million banking customers, working with more than 50 tech lenders, banks and financing companies in 13 countries across Africa and Asia. Their service allows consumers to manage bank accounts, transact 24/7, make investments, and access appropriate credit in fast growing regions.

British Business Bank Agrees ENABLE Build Guarantee with Hampshire Trust Bank

Hampshire Trust Bank (HTB) has secured an ENABLE Build guarantee via the British Business Bank and The Department for Levelling Up, Housing and Communities (DHLUC). It follows HTB’s previous ENABLE Guarantee, agreed in 2017, which has so far provided £342m in SME housebuilder funding and supported the building of 1547 new housing units. The new guarantee means HTB can continue to grow its support to small business housebuilders across the UK.

Zopa Bank and ClearScore Announce Cross-industry Initiative to Drive 10 Million Consumer Actions that Strengthen Finances Amidst Rising Cost of Living

Digital bank Zopa and credit marketplace ClearScore have unveiled a new cross-industry initiative to drive 10 million actions that strengthen consumer finances amidst the rising cost of living. With inflation forecast to reach up to 13% and over 25% of the UK’s population facing low levels of financial resilience, the 2025 Fintech Pledge (pledge2025.org) provides UK consumers with actionable steps to build up their financial resilience.

Adflex Partners with Barclaycard to Optimise B2B Merchant Payments

Adflex has partnered with Barclaycard to streamline card payments for its B2B clients. Adflex can offer speedier settlement, transparent reporting, and more competitive merchant service fees by adding Barclaycard to its network of acquirers.The agreement enhances Adflex's B2B merchants' operational benefits, including faster settlement to eliminate late payments and cash flow difficulties and more transparent reporting for informed decision-making and resource allocation.

Match-Trade Technologies Partners with Sumsub to Streamline KYC for Forex Brokers

Match-Trade Technologies has teamed with Sumsub, a global verification platform, to improve KYC processes in the company's Client Office CRM. Match-Trade, named Best CRM Provider by the Global Forex Awards, is improving its unique Forex CRM, focusing on KYC. Sumsub is an identity verification platform that combat digital fraud and helps organisations stay compliant, with years of experience in KYC verification for the fintech and trading industries.

Inovatec Partners with Provenir to Deliver Advanced Decisioning Solutions to Lenders

Inovatec Systems, a major provider of industry-leading, cloud-based software solutions for lenders, announcedit has entered into a partnership with Provenir, a global leader in AI-powered risk decisioning software. As a result, Inovatec’s roster of automobile lenders can access Provenir’s proven portfolio of AI-driven decisioning solutions through open APIs that are embedded into Inovatec’s market-leading LOS platform.

Mahalo Banking Partners with UnitedOne Credit Union to Provide Omni-Channel Member Experience

Mahalo Banking, a CUSO that provides online and mobile banking solutions for credit unions, announced that it has successfully implemented its digital banking platform at Manitowoc, Wis.-based UnitedOne Credit Union (UnitedOne). The new solution gives UnitedOne members a consistent digital experience across devices. UnitedOne serves Eastern Wisconsin residents, businesses, and schools with $300 million, 20,000 members, and 7 branches.

Wipro and Finastra Partner to Power Digital Transformation for Corporate Banks in India

Wipro Limited and Finastra established a cooperation in India to enable corporate banks accelerate digital transformation with Finastra's solutions.This relationship combines Wipro's consulting, digital, infrastructure, and operations capabilities with Finastra's cutting-edge technologies to create modern API-enabled platforms enabling banks to innovate, streamline, and digitise fundamental trade finance processes.

Mastercard Empowers Fintech Investment Platform NORD.Investments with Open Banking Payments

Aiia, a Mastercard company, and NORD.Investments are announcing a new collaboration that will enable quick, easy and secure top-up open banking payments in Denmark's largest independent digital investment advisor platform. Until today, NORD.Investments customers experienced some challenges when adding funds to the investment platform, as the process involved going through their online bank and manually entering their investment account details to move their money.

Huobi Global Strikes Deal with AstroPay to Extend Fiat to Crypto Payments into Latin America

AstroPay, the online payment solution of choice for millions of users worldwide, has partnered with Huobi Global, one of the world’s leading cryptocurrency exchanges and digital asset trading platforms, to provide fiat to crypto payment services for Huobi users in Latin America. AstroPay will enable Huobi Global customers to buy crypto assets with fiat money and use local and international payment methods.



Seraphim Space Launches New ESG Investment Monitoring Tool

Seraphim Space Manager LLP (‘Seraphim Space’), the investment manager of Seraphim Space Investment Trust (‘SSIT’ or the ‘Company’), the world's first listed SpaceTech investment company, has launched a new proprietary tool to enhance the analysis of climate, sustainability, and social impact risks for the space technology sector and provide improved sustainable-led practices.

Acuiti Launches Systematic Hedge Fund Expert Network

Acuiti launches its Systematic Hedge Fund Expert Network, the latest in its series of derivatives-focused networks of senior market executives. Acuiti Expert Networks provide a virtual forum through which senior executives in a given market can gauge sentiment and benchmark approaches to common challenges.Members of the network have access to a portal through which they can pose questions to other members of the network in a quarterly survey.

Revolut Launches Revolut Pro Account for Income, Payment and Expense Management for Freelancers, Gig

Revolut has introduced a dedicated income, payment and expense management account for freelancers, sole traders, contractors, and the self-employed. Revolut Pro is an app within the Revolut retail app that offers a free account with no monthly fees, deposits, or balance requirements.Revolut's app allows account creation in under two minutes and gives a 1% reward debit card. It also allows instant transfers to external banks and other Revolut accounts.

PCI Pal Launches Open Banking Payments for Contact Centres: The First in a Series of New Payment Products

PCI Pal®, the global SaaS provider of secure payment solutions for business communications, has announcedthe launch of its Pay By Bank open banking solution for contact centres. It's the first in a series of new agent-assisted, digital payment tools that help merchants reduce transaction costs, give rapid refunds, and reduce fraud risk and chargeback charges. The first version of the programme lets clients pay from any UK bank, with more global regions to come.

Refinitiv Launches Forward Looking Term Rate Versions of ARRC Recommended Fallback Rates to Facilitate Industry

Refinitiv commences publication of forward-looking term rate versions of its ARRC recommended fallback rates - USD IBOR Cash Fallbacks. This follows the Alternative Reference Rates Committee’s (ARRC) March 2021 announcement that it had selected Refinitiv to publish its recommended fallback rates for cash products, and Refinitiv’s July 2022 announcement that it intends to launch the new USD IBOR Cash Fallbacks settings in September 2022. 

Volume Launches First-ever Open Banking Solution that Gives Consumers Discounted Prices on Any Online

Volume, the payments fintech startup, exists in stealth mode after its April $2.4 million raise with the launch of its, “Pay Now Spend Less” internet payment, fee killer. This is the first solution to incentivise shoppers to pay with their banking app by offering an immediate discount at checkout on everything they buy. Volume’s Pay Now Spend Less goes beyond direct account-to-account (A2A) payments between merchants’ and online shoppers’ bank accounts in one click.

GoCardless Launches its First Open Banking-powered Feature in France, Built to Tackle Fraud

GoCardless, a leader in direct bank payment solutions, has launched Verified Mandates in France. Part of the GoCardless global ‘bank payment’ platform, Verified Mandates combines the Account Information Services (AIS) capabilities of open banking with bank debit to stop fraud before it happens. This is a new way to combat payment fraud, whether it's identity theft or "customers" stealing from merchants.


Merger & Acquisition

Reach Helps Tuber Group in a Major Acquisition

Reach Commercial Finance has secured three different funding solutions worth £4.8 million for Tuber Group to help accelerate business growth, the latest of which is support for the acquisition of fresh produce business - MyFresh. Tuber Group trades globally across a wide range of commodities including fresh and frozen produce, to B2B and retail clients. MyFresh is UK’s largest ingredients-focussed, prepared fresh produce business.


Job Moves

TS Imagine Enhances Executive Team with Three Key Hires

TS Imagine, a global leader in trading, portfolio, and risk management solutions for capital markets, today announced three executive leadership hires to support the firm’s rapid growth. Spencer Lee joins as Chief Markets Officer, where he will develop and grow TS Imagine’s global fixed income offering. Kate Peachway joins as Chief Financial Officer, where she will lead TS Imagine’s global finance department. Renee Calabro joins as Chief Marketing Officer, where she will lead public relations, communications, and marketing globally.

Smith Forte Joins Moneybox as Chief Product Officer

Moneybox, the app-based digital wealth manager, has appointed Smith Forte as its Chief Product Officer. As Chief Product Officer Smith will oversee the Product and Design teams at Moneybox, helping drive the overall vision and product strategy to continue building the UK’s category-defining wealth management platform to help people turn their money into something greater. 

Financial Compliance Platform Napier Announces New CEO

Napier, a global end-to-end intelligent compliance platform and provider of advanced financial crime risk management solutions has announced that its current Chief Operations Officer Greg Watson, is to take the helm as Chief Executive Officer with immediate effect, as former CEO Julian Dixon moves into a full-time role as Founder and Board Member. Greg's experience at Napier and at Fenergo, HSBC, and UBS in operational management and business strategy make him the appropriate option to head Napier's next growth phase.

Provenir Expands Presence in Middle East and Africa with New Prominent Appointment

Provenir, a global leader in AI-powered risk decisioning software, announced that Adrian Pillay has joined as Vice President of Sales for Middle East and Africa as part of the company’s expanding investment in the region to meet the growing demand for its AI-driven risk decisioning platform. Adrian brings more than 20 years of experience implementing successful go-to-market strategies and building key partnerships in numerous financial markets.

OpenPayd Appoints 10x Banking’s Richard Given as Group General Counsel

OpenPayd, a leading global payments and Banking-as-a-Service (BaaS) platform announced the appointment of Richard Given as Group General Counsel, to oversee the group’s legal and regulatory work. Richard brings to the role over 20 years of in-house experience across technology and financial services. As General Counsel and Company Secretary at 10x Banking, he was the company's first lawyer and helped grow it from a small start-up to an industry leader.

BankiFi Continues Global Expansion with New CTO Hire

Building on its recently announced North American expansion, BankiFi has appointed Danny Piangerelli, formerly of Malauzai Software and Sensibill, highlighting the company’s commitment to targeted technology innovation for the North American market. A leading international provider of embedded banking solutions, BankiFi is on a mission to help over two million SMBs globally by 2024 through partnering with financial institutions to provide technology designed to make business banking better.

Brite Payments Appoints Lisa Edström (ex-Klarna and Zettle) to Compliance Director Role

Brite Payments has engaged Lisa Edström as its new Compliance Director after 12 months of hypergrowth. The hire supports the company's compliance-first payments innovation strategy. Brite Payments has a strong merchant and customer brand.Second-generation fintech is committed to rapid, impactful reaction to consumer choice, with a methodology that satisfies consumer wants and increases merchant offering.

Trulioo Appoints Eric Morse Chief Revenue Officer

Trulioo, a leading digital identity verification platform, has appointed Eric Morse as a chief revenue officer. Morse has decades of sales, technology and business development experience. He will lead the sales and customer success teams with a charge to accelerate the company’s growth trajectory, emphasizing global enterprise-level customers. Most recently, Morse was the senior vice president of sales at Affirm, where he defined and executed the large-enterprise business strategy.

Virgin Money Appoints Sarah Wilkinson as Chief Operating Officer

Virgin Money has announced the appointment of Sarah Wilkinson as Chief Operating Officer. Sarah will join Virgin Money from Thomson Reuters, where she is the Chief Information Officer and Head of TR Labs, Thomson Reuters’ technology research and innovation centres worldwide. Prior to joining Thomson Reuters, Sarah was CEO of NHS Digital, responsible for systems and data for health and social care nationally, and before that was CIO at The Home Office.

Chris Codo Joins United Fintech from CME Group

Chris Codo has been appointed Senior Relationship Manager at United Fintech, the fintech one-stop-shop for banks, hedge funds and asset managers. Chris Codo spent the last seven years as Senior Director, CME Group, with a focus on selling to hedge funds. His previous roles include Sales Director at FXall, Sales Director at Barclays Capital, Vice President at Lehman Brothers, and Vice President at Bloomberg LP.

Related News