27/05 – Weekly Fintech Recap

  • Digital banking , Payments , Banking , FinTech StartUps , M&A Deals , People Moves
  • 27.05.2022 11:43 am


Laiye Partners with Accenture to Power Intelligent Automation and Innovation at Scale

Laiye, a leading Intelligent Automation (IA) provider, announced a partnership with Accenture, a global professional services company with leading capabilities in digital, cloud, and security, as its global partner and System Integrator (SI) under Laiye’s Global Partner Program. Laiye and Accenture will share their knowledge, expertise, and experience to help companies in their digital transformation journey through the scaling up of AI-powered Intelligent Automation.

MetaMask Partners with Asset Reality to Help Victims of Scams In Their Efforts to Recover Stolen Digital Assets

MetaMask, ConsenSys’ leading self-custody wallet, announced a new strategic partnership with Asset Reality, an end-to-end solution for recovering, managing, and accessing seized crypto and complex assets. Over the last few years, economic activity on web3 has grown exponentially. While this growth has attracted a number of highly innovative applications that will help redefine the future of financial services and the creator economy, it has also drawn the attention of online scammers and thieves.

FullCircl Partners with NayaOne Digital Sandbox to Offer Customer Lifecycle Intelligence Transformation

Obscuro has launched its decentralised Ethereum protocol designed to achieve data confidentiality while maintaining the benefits of an open blockchain network. In doing so it aims to open up a new world of use cases on Ethereum such as private NFTs, dark pool trading, gaming, sealed auctions, KYC and more.Obscuro was incubated by global enterprise software firm R3 and was recently spun out as a separate entity, based in London.

UK Insurtech Policy Expert Announces Six-year Deal with R&Q Accredited Europe

Accredited Insurance (Europe) Limited, a wholly-owned subsidiary of Randall & Quilter Investment Holdings Ltd., which is licensed to write all non-life classes in all EU member states and the UK and is A.M. Best A- (Excellent) rated, announced that it has signed a six-year program management agreement with Policy Expert, a UK Insurtech providing home and motor insurance to over one million customers. Policy Expert wrote its first home insurance policy in 2011 and has grown rapidly to become one of the UK’s top ten home insurance providers, expanding into the motor in 2019.

Wombat Partners With Currencycloud to Launch Its New, Free Instant Investment Service to Open Up Investing for a Wider Market.

UK-based micro-investment platform Wombat has partnered with Currencycloud, the experts in simplifying business in a multi-currency world, to launch its new, free, Instant Investing account to give investors the ability to invest instantly in the UK, and in US stocks during opening hours. In line with Wombat’s goal of making investing effortless and accessible for all, the easy-to-use Instant Investing account lets people who want to trade more frequently, and with more choice, do so with no initial subscription fee and only small FX transaction fees.

Alpher Partners with WealthKernel to Tackle £15B Gender Investment Gap

WealthKernel, the wealthtech provider of API investment services, announces its partnership with Alpher, the female-first investment platform focused on closing the gender investment gap. As part of the partnership, WealthKernel will provide Alpher with its core investing infrastructure,  including brokerage and custodian services, fractional stocks and ETFs, portfolio management functionality, and access to UK tax account wrappers like ISAs and GIAs (general investment accounts).

Coingrig Partners With Nordigen to Directly Connect Users’ Bank Accounts to Their Digital Wallet

Coingrig has integrated Nordigen’s open banking platform to increase the ease of bank connectivity to their digital wallet. Coingrig is a next-generation digital wallet that allows users to manage all their personal finance and assets in one place. From crypto to traditional banking, the wallet provides functions for users to securely access their cryptocurrency and bank account balances but also track their stock market, ETFs or commodities holdings.

Zopa Bank and TrueLayer Make Saving Seamless With Account-to-account Payments

TrueLayer, Europe’s leading open banking platform, announces a collaboration with digital bank Zopa, which has gone live with account-to-account payments for its Smart Saver savings account. Zopa’s Smart Saver was launched in February with a focus on helping consumers at the start of their savings journey, enabling them to deposit money into different ‘Pots’ with different interest rates and access requirements. In just a few months, the account has already attracted 20,000 customers and more than £110m in deposits.

Validis Partners with Abrigo to Speed Up Small Business Lending for U.S. Financial Institutions

Abrigo, the leader of compliance, credit risk, and lending solutions for financial institutions, announced an alliance with Validis, a secure data ingestion platform that pulls clients’ financial information in real-time, standardized for easy consumption. This partnership will allow financial institutions to extract general ledger data quickly and efficiently. With Validis, banks and credit unions can go from application to spreading financials to deciding on loans without leaving Abrigo’s Sageworks loan origination system.

Wirex and Polygon Collaborate for Launch of New Payment Method in India on Mass-Market Wallet

Wirex, a leading crypto payments company, is expanding the suite of top-up methods on their non-custodial wallet for Indian customers. The addition of this popular payment option to purchase crypto will make the digital economy more accessible for over 1 billion people in India. The Wirex Wallet is available globally and was created to make the benefits of DeFi available for everyday users.

Yapily Teams up with Two to Tackle Europe’s €400B SME Finance Gap

Open banking platform Yapily has partnered with B2B Buy Now Pay Later (BNPL) start-up Two, enabling merchants to offer BNPL services to their business customers instantly at checkout. SMEs are the backbone of Europe’s economy. They account for almost two-thirds of European jobs and contributed approximately €3.5 trillion to the European economy in 2020. Yet, as reported by Allianz, industry research estimates that a €400bn SME finance gap still exists in Europe.

Moneybase Partners With Compass Plus Technologies to Launch New Digital Payments App and Range of Cards

Moneybase, a fintech subsidiary of Calamatta Cuschieri Finance Group - Malta’s largest independent financial services firm which pioneered the Maltese financial services industry in 1971, has launched Moneybase, a new digital payments app and card issuing platform using the award-winning payments platform, TranzAxis, from Compass Plus Technologies. Moneybase is an easy-to-use platform designed to make money simple offering a wide range of services from payments to investments.

Exabel and Databoutique.com Announce Collaboration

Exabel, the alternative data analytics platform for investment teams, and Databoutique.com, the ready-to-use market intel platform by RE-Analytics research firm, announced a partnership that sees the creation of the Luxury Goods Sales Estimates Insights Platform. The Luxury Goods Sales Estimates Insights Platform will give portfolio managers and hedge funds online sales estimates for luxury goods brands with product and brand-level detail, several weeks earlier and with deeper granularity than that which is commonly reported by the industry.



Payments Disruptor Xpate Launches Core Banking Solution to Leapfrog Legacy Platform Limitations

Xpate, the rapidly growing simplified cross-border payments platform, announced the launch of its disruptive core banking solution, which links merchant and acquirer systems to offer agile, flexible and harmonised payment processing, and crucially helps them to bypass legacy IT platform limitations. Combined with xpate’s renowned UX design-led focus, the new core banking solution will help merchants and acquirers to tap into even more cross-border e-commerce opportunities through its easy-to-use integrated platform.

Mastercard Launches Cyber security “Experience Centre” at Global Intelligence and Cyber Centre of Excellence in Vancouver

Mastercard unveiled the " Experience Centre” at its Global Intelligence and Cyber Centre of Excellence (“Centre of Excellence”) in Vancouver, BC, where local, national and international tech communities are invited to collaborate on cyber security innovation. The Experience Centre also features emerging Mastercard products and solutions that are already securing digital payments on a global scale, including those developed locally in Vancouver.    

Inventi Launches A Digital Banking Fraud Prevention System

Nordic financial software developer Inventi launches Digital Banking Fraud Prevention System as a stand-alone product. The platform protects banking customers on online and mobile banking platforms. The fraud prevention suite is aimed at mid-sized European banking institutions and is already in use by one of the leading Nordic banks. Inventi fraud prevention system operates in real-time analyzing every online customer transaction.   

AssetTribe Launches Alternative Asset Investment Platform With First Wine Investment Category

AssetTribe announces the launch of its digital platform,  connecting investors to a broad and diverse range of alternative assets, opening up this interesting and important asset class especially during these turbulent times of high inflation and uncertain stock markets. AssetTribe is an investment community aiming to shape today’s investment market by offering private investors investments in alternative assets that can reduce portfolio risk through diversification and enhance returns.

Verto Launches B2B Multi-currency Global Account Solutions

Verto, the leading B2B cross-border foreign exchange (FX) and payments enabler, announced the launch of its multi-currency global account. Using Verto’s global account, businesses can conveniently receive and send payments across 190 destinations, and hold funds, in up to 51 currencies, making Verto a one-stop-shop for businesses worldwide. Businesses often face high fees and copious paperwork when receiving foreign currencies.

Kennek Launches World-class 'lender-in-a Box’ Offering on Mambu

Kennek, a connected and scalable lending infrastructure, is launching its innovative ‘lender-in-a-box’ offering on leading global cloud banking platform, Mambu. Founded in 2021, kennek’s vertical SaaS platform bundles together the best-in-class vendors in credit scoring, open banking, data extraction - and more - into one user-friendly integrated system. By building on Mambu’s composable cloud platform, kennek can offer a highly flexible product to customers, allowing them to easily configure and add different types of loans and credit as required.

Wirex and Polygon Collaborate for Launch of New Payment Method in India on Mass-Market Wallet

Wirex, a leading crypto payments company, is expanding the suite of top-up methods on their non-custodial wallet for Indian customers. The addition of this popular payment option to purchase crypto will make the digital economy more accessible for over 1 billion people in India. The Wirex Wallet is available globally and was created to make the benefits of DeFi available for everyday users.

Marble Launches First Rewards-Based Mobile App For Insurance

Marble, the all-in-one insurance rewards platform where households can confidently organize, optimize, and save on all of their insurance, no matter who their provider is, announced the launch of their highly anticipated mobile app today. Marble’s app is now available for free download via the Apple App Store or Google Play Store. Since the launch of the Marble public beta a year ago, tens of thousands of households have used Marble’s free tools to take control of nearly 20 million dollars of insurance premiums.


Merger & Acquisition

Reply Extends its Presence in Banks and Insurance in Germany with the Acquisition of FINCON

REPLY announces that has signed an agreement to acquire 100% of FINCON Unternehmensberatung GmbH - a German consulting company leader in digital transformation projects for the banking and the insurance industry. FINCON, headquartered in Hamburg, is a pure consulting company specialised on the core processes and systems for the financial services industry such as, mobile banking, payments, core banking, internal control system and regulatory compliance, BIPRO and insurance systems. 

Paddle Acquires ProfitWell

On the back of Paddle raising $200 million at a $1.4 billion valuation the other week, the London startup is making a key acquisition to bring more functionality to its payments platform for SaaS companies. It has acquired ProfitWell, which has built a popular set of tools to provide analytics and retention tools to companies that sell their products by way of subscriptions. Paddle is buying technology and product, but also has an interesting user base.


Job Moves

Payoneer Appoints John Caplan as Co-CEO

Payoneer, the commerce technology company powering payments and growth for the new global economy, appointed John Caplan co-Chief Executive Officer and Director alongside current CEO Scott Galit, effective immediately. Galit and Caplan will lead the firm as co-CEOs during a transition period through the end of 2023 when Caplan will take the helm as CEO and Galit will continue in a strategic role.

Fintech Unicorn, PPRO Appoints Cognito to Raise the Brand’s Profile Across Europe Amidst Accelerated Growth

Cognito has been appointed by PPRO, the leading global provider of digital payments infrastructure, to further expand the brand’s profile across the European financial technology market. PPRO is leveraging Cognito’s European offices to develop a strategic, communications campaign to position PPRO as the digital payments partner of choice. In early 2021, PPRO achieved a milestone valuation and became a unicorn after securing £132 million in funding from prestigious investors, including Eurazeo Growth and Sprints Capital.

Equifax Canada Welcomes Sandy Kyriakatos as Chief Data Officer

Equifax Canada has welcomed Sandy Kyriakatos to the position of Chief Data Officer, with a mandate of advancing Equifax’s data strategy to benefit customers and consumers alike. Before joining Equifax, Kyriakatos was the first Chief Data Officer in the Canadian public services, having held the role with the Canada Border Services Agency as well as Employment and Social Development Canada. In addition to her CDO roles, she has held senior roles leading Data and Analytics at Loyalty One, SAS Canada and Canada Post.

Emma Peach joins Connected Data

Data-driven technology company Connected Data announced that Emma Peach has joined the team as General Counsel and Data Protection Officer. Emma brings with her over 30 years of experience in commercial and privacy law, having held senior leadership roles across some of the world’s largest organisations in the data and financial services space, including Experian and TransUnion. Emma will play an integral role in building Connected Data’s relationships with data suppliers and customers.

Xceptor Strengthens Executive Leadership Team with Key Senior Appointments

Xceptor, the financial sector’s leading no-code software platform for data automation, announced the appointments of Josh Monroe as Chief Revenue Officer and Ludovic Blanquet as Chief Strategy and Transformation Officer. Reporting into Xceptor CEO Andrew Kouloumbrides, Ludovic will be based in Xceptor’s London headquarters and Josh in the New York office. As Chief Revenue Officer, Josh is responsible for leading worldwide sales, marketing, strategic partnerships and alliances.

DealShare appoints Venkatesh Tarakkad as Chief Financial Officer

Strengthening its senior leadership team further, DealShare, the social e-commerce pioneer and recent unicorn, announced the appointment of Venkatesh Tarakkad as Chief Financial Officer. Venkatesh brings over 25 years of experience in enabling businesses to scale quickly, increasing efficiency & improving profitability, taking companies public. He will be in charge of DealShare's Finance function as well Supply Chain function.

SEON Appoints Fraud Expert PJ Rohall

A seasoned professional, with more than a decade working in the fraud fighting industry, PJ Rohall is positioned to help further grow SEON’s brand awareness in the American market. PJ is the co-founder of About-Fraud, a global community for fraud fighters, which provides resources, news, and insights about fraud trends around the world. Alongside this new role, PJ will retain his position at About-Fraud and continue to help to connect anti-fraud professionals with one another in the broader fight to tackle online fraud.  

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