25/03 – Weekly Fintech Recap
- Digital banking , E-Commerce , Open Banking , RegTech , Security , M&A Deals , People Moves
- 25.03.2022 09:00 am
Yapily Partners with NayaOne to Offer Open Banking Connectivity
Yapily announced a partnership with NayaOne and their Digital Sandpit. The partnership provides hundreds of organizations with access to Yapily’s next-generation financial data and payment initiation solutions. This is an exciting development and enables NayaOne’s customers to innovate and build next-generation financial products and services using Yapily’s open banking API infrastructure.
Experian Partners With Santander on Exclusive Offer for Experian Boost Members
Sebastian Worbs, MD Products at Experian Consumer Services said: “We are thrilled to partner with Santander on this exclusive offer for customers who have boosted their credit score. We launched Experian Boost to help people improve their creditworthiness and access the right financial products for them. Working with partners like Santander allows us to offer more choice to people at the moment they need it, in a way they can afford."
Citi and Etihad form Global Partnership for Treasury Transformation
Citi has renewed its cash management mandate with Etihad, further assisting the airline with a major Treasury transformation journey, helping to move its automation, digitalization and overall efficiency to the next level.Ethiad will gain access to Citi’s breadth of digital capabilities across working capital and liquidity management, payments and collections, reconciliation and visibility, as well as working closely with Citi’s Innovation Lab to deploy a number of innovations in treasury management using AI-based and API technology.
Intelligent Liquidity Management Software Seedcash Collaborates With Nordigen for Streamlined Financial Data Import
Spanish fintech platform SeeDCash opts for Nordigen for an improved financial data import process.SeeDCash is an intuitive and analytical system for managing and predicting business’ liquidity and finances. The application includes custom payment and transaction categories, automated daily treasury processes, custom collection and payment alerts, treasury diagnoses and forecasting software.
Hawk AI Partners With Weavr To Deliver Contextual Risk Management for Embedded Finance
Hawk AI, Germany’s leading software provider of anti-money laundering surveillance technology for banks, payment firms, and fintechs, announced a new partnership with Weavr, the technology company that makes it simple for any business to embed financial services into their digital applications. With the partnership, Hawk AI’s full suite of Transaction Monitoring, Payment Screening, and Customer Screening will help support Weavr’s ambitions global growth plans as they expand from Europe to the US.
Societe Generale Extends Its Partnership With Surecomp to Accelerate Digital Trade Transformation
Surecomp, a market leader in global trade finance solutions for banks and corporations, announced that Societe Generale has gone live with the latest version of its IMEX™ solution for back-office trade finance processing automation across four countries in Asia. IMEX™ consists of an online, real-time processing and decision support system that handles the full range of trade finance instruments. By using this digital solution, the bank is further streamlining its operations and enhancing the quality of its customer service to corporate in the region.
Payap and Zimpler Launch Collaboration for Payroll Administration
Payment provider Zimpler and Payap, a startup within payroll management, have launched a new collaboration to disrupt the payment and payroll scene. By integrating with Zimpler's service for instant payments, Payap becomes the first Swedish system provider to offer its customers’ salaries and expense payouts in real-time. The partnership aims to simplify everyday life for Payap customers. Users can see real-time changes in the system and with Zimpler’s account-to-account solution, employees can receive real-time payouts for expenses as well as flexible salary payouts.
Paylink Solutions Partners With Ecospend to Provide ‘pay-by-bank’ Services
Paylink Solutions has partnered with an online banking provider, Ecospend, to allow customers who’ve fallen behind with repayment plans to make instant payments and get back on track with their arrangements.Customers will be sent a link for them to make the previously failed payments, either over the phone with an agent or online at a time that suits them. ‘Pay by bank’ provides an alternative option to card payments and move money from people’s bank accounts in real-time.
Drawbridge Launches Industry Advisory Board to Promote Cybersecurity Innovation and Collaboration Across the Alternative Investment Industry
Drawbridge, a premier provider of cybersecurity software and solutions to the alternative investment industry, announced the creation of its Industry Advisory Board (IAB). With the launch of its IAB, Drawbridge is bringing together exceptional industry leaders with unmatched experience to foster an open exchange of ideas and best practices to help advance cyber defenses for the alternative investment community.
GoCardless Launches Open Banking-powered Fraud prevention Tool
GoCardless, a leader in direct bank payment solutions, has launched Verified Mandates in the UK, a feature within its global bank pay platform that combines the Account Information Services (AIS) capabilities of open banking with a direct debit to stop fraud before it happens. This represents a new approach to tackling the age-old issue of payment fraud, when “customers” intentionally try to receive goods or services from merchants without paying for them.
Flutterwave Launches in Tanzania
Flutterwave, Africa’s leading payments technology company, has gained approval from the Bank of Tanzania (BoT) to launch its seamless payment service in the Republic of Tanzania. The approval comes after the Bank of Tanzania conducted due diligence and Flutterwave satisfied all requirements necessary to receive a license to operate in the country. With the approval, Flutterwave will open its offices in Dar Es Salaam with the aim to drive connected digital payments and financial inclusion by enabling merchants and customers to trade efficiently through its platform across the country.
CoinZoom Launches CoinZoom Cash – Enabling Customers to Deposit Cash and Purchase Bitcoin in Over 80,000 Locations
CoinZoom, a U.S.-based cryptocurrency exchange and leading fintech company, announced the launch of CoinZoom Cash, enabling customers to purchase Bitcoin and 40 other top cryptocurrencies with cash at a fraction of the cost of high-priced, limited functionality, Bitcoin ATMs. CoinZoom is the only U.S. - based exchange to offer this service to its customers. Through CoinZoom Cash, Customers can load cash into their CoinZoom account at the register of over 80,000 participating locations, then buy Bitcoin or 40 other coins in under 10 seconds.
Fintech Disruptor Trust Payments Launches All-in-one E-commerce Platform to Revolutionise Payments Offerings for SMEs
Trust Payments, a fintech platform specializing in frictionless payments and value-added services for businesses, has announced the launch of a new e-commerce platform, supported by the acquisition of Stor, an innovative solution that offers merchants end-to-end online shopping tools. The move will enable online and offline retailers to sell directly to consumers via easy-to-use, drag and drop features to create their ideal online shop in just a few clicks.
Pipe Launches “Mine Now, Pay Later,” The Bitcoin Mining Industry’s First Alternative Financing Solution
Pipe, creator of the world's first trading platform for recurring revenues, launched an innovative “Mine Now, Pay Later” financing offering for bitcoin mining hardware and hosting companies. This empowers bitcoin mining hardware companies to offer payment terms to their customers on mining equipment and services. In conjunction with this launch, Pipe released the Pipe API that now allows any company with a recurring revenue business model to securely sync to the Pipe trading platform to get up-front capital for their future recurring revenue streams.
SBI Card Launches RuPay JCB Credit Cards Through Partnership with Yatra
KCB International Co., Ltd. in association with National Payments Corporation of India, SBI Card and Yatra.com announced the launch of a unique co-branded "RuPay JCB Yatra SBI Card Contactless Credit Card". This holiday-cum-shopping credit card is set to delight travellers and holiday lovers with exclusive travel benefits on booking flights and hotels which would be applicable 6 times a year. As a welcome onboarding gift, users of this card are entitled to Yatra.com vouchers worth INR 8250. They can use this voucher to book flight tickets, hotel reservations and the likes from Yatra.com.
Currencycloud Launches Weekend FX to Provide Clients With 24/7 Currency Availability
Currencycloud, the experts simplifying business in a multi-currency world, has launched Weekend FX, providing clients with the ability to offer competitive FX rates 24/7, even after the markets close on a Friday evening. Gone are the days of businesses operating 9-5, Monday to Friday. With an increasingly global business culture companies and retailers often work outside of traditional operating hours and days of the week. But arranging cross-border payments after the markets have closed on a Friday exposes business to increased costs and associated risks while they wait for trading desks and banks to open again on Monday morning.
Merger & Acquisition
Chetwood Financial Acquires Yobota to Expand BaaS Capabilities
UK digital bank Chetwood Financial (Chetwood) has announced the acquisition of core banking provider Yobota to extend Chetwood’s Banking-as-a-Service (BaaS) capabilities. Founded alongside the bank in 2016 and developed as a separate entity, Yobota is a London-based technology company that has built a fast, ﬂexible, cloud-native core banking platform. The platform allows companies to create and run innovative financial products, and manage them independently.
Hardbacon Acquires Simplerate.ca to Expand Its Credit Cards and Rewards Content Offering
Hardbacon, a personal finance application used by more than 35,000 Canadians, announced the acquisition of Simplerate.ca, consolidating its position in the rewards and credit cards space in Canada. With this acquisition, Hardbacon now reaches more than 200,000 Canadians per month across its mobile app and website properties. As part of the acquisition, Hardbacon will continue to maintain Simplerate.ca and update it with unique content that helps Canadians save money and earn rewards by picking the best credit cards, joining the right rewards programs, and making it easier to shop online.
Vantage Capital Backs Compass Capital to Acquire a Portfolio of Grade a Office Buildings in East Cairo
Vantage Capital, Africa’s largest mezzanine fund manager, announced that it has provided $10 million of mezzanine debt funding to Compass Capital, a leading Egyptian private equity firm, to acquire six grade A office buildings in East Cairo. The acquisition is being made by Compass Capital’s existing real estate company, Bonyan for Development and Trade, which owns and operates the Walk of Cairo, an outdoor retail boulevard in West Cairo.
Bizongo Acquires Clean Slate, to Equip More Than 100 Cloud Factories in India by 2023
Bizongo, India’s leading full-stack B2B trade enablement platform has announced the acquisition of Mumbai-based IoT and Real-Time Location Services (RTLS) solutions provider Clean Slate Technologies. Through this acquisition, Bizongo aims to equip more than 100 Indian factories with its IoT-powered cloud factory solution by 2023. Clean Slate’s team including Siddharth Desai, Mayank Sharma, and Anubhaw Kumar will join Bizongo.
James Freis Joins Moonpay as Special Advisor for Global Financial and Regulatory Affairs
MoonPay, the leading global crypto payments infrastructure provider, announces the appointment of James Freis as Special Advisor for Global Financial and Regulatory Affairs. Freis, an advisory lawyer, financial executive and former Director of the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) will provide guidance and support to MoonPay’s executives and global compliance team. Freis joins MoonPay shortly after its $555 million Series A round, led by Tiger Global Management and Coatue.
Ebury Appoints Victor Radu Roşu as Romania and Bulgaria Country Manager
Ebury, the global financial services firm and one of Europe’s largest fintechs, announced the appointment of Victor Radu Roşu as Country Manager of Romania and Bulgaria. Victor will manage Ebury’s Romanian and Bulgarian operations from its office in Bucharest to support companies conducting business across the two countries. Victor has over 20 years of experience in the financial services sector working for multi-national banks including ING Bank, ABN AMRO and BCR Erste Group.
Financial Risk Solutions Appoints Digital Marketing Manager in Ireland and Implementation Manager in Australia
Financial Risk Solutions (FRS), provider of the investment administration software Invest|ProTM to asset owners, life insurance, and investment management companies worldwide, announced the appointment of Preyatham Adepu to the role of Implementation Manager in Australia. Reporting to FRS Professional Services Director Paul O’Meara, Preyatham will manage the implementation of Invest|ProTM for Australian clients. Preyatham joins FRS with 16 years’ experience in financial software design, development and delivery in Australia with roles of principal technical leads at SS&C and technical consultant at ADP.
IDnow appoints Johannes Leser, former Managing Director of Namirial Germany, as Vice President Trust Services
IDnow, one of the leading European providers in the field of digital identities and identity verification, has appointed Johannes Leser as the new VP Trust Services. Leser's primary responsibilities at IDnow will be the expansion of the Trust Services unit as well as the management of new German trust service. The company, headquartered in Munich and with five additional European locations, is announcing plans to build a Qualified Trust Service Provider (QTSP) as part of the appointment of Johannes Leser.
Trulioo Appoints Reno Mathews as First Chief Compliance Officer
Trulioo, the leading global identity verification company, announced the appointment of Reno Mathews as the company’s first Chief Compliance Officer. Mathews has 20 years of experience in building global compliance programs and leading remediation efforts related to regulatory enforcement actions in the banking, money service businesses, crypto and broker-dealer industries. Mathews is a former executive at Google and most recently Meta (aka Facebook).
Dynamic Planner Appoints European Managing Director for Continental Expansion
Dynamic Planner, announces the appointment of Christophe Ponette* as Managing Director for Europe to lead the company’s EU expansion. Christophe was previously the MD of Avaloq, the European Banking and Wealth Technology Provider for Benelux, speaks multiple languages and has over 25 years of experience working in sales and management positions in European markets including The Netherlands, Switzerland, France, Luxembourg and Belgium.