Bybit welcomed senior management executive, Alphan Gogus, as the regional general manager for Turkey. This appointment is part of Bybit's global expansion to support the emerging markets and develop a stronger presence locally with the crypto communities and regulators.

When it comes to driving growth for the crypto business, and the development trajectory towards Web 3.0, in his words, "Turkey is fast emerging as a strategic market in the blockchain and cryptocurrency space. The local community has adopted not only mainstream coins but also embraced other utilities such as NFTs, fan tokens and gaming in the metaverse," said Gogus.

"Bybit's momentous growth in 2021 was largely fueled by soaring market share in the Turkish market, and I am beyond excited to come on board at this exciting time. Our Turkish users are crypto-savvy and demand nothing short of best-in-class services and support, and the Bybit team is committed to delivering just that. My job is to put my management experience in cryptocurrency operations to use and build the best team crypto has to offer for our Turkish community," he added.

"We want to deliver an unparalleled experience for our local users in every part of the world. As part of our global expansion plan, I am certain that with Alphan's vision and under his leadership, Bybit will bring our next-level innovative and reliable crypto experience to our Turkish users," said Ben Zhou, co-founder, and CEO of Bybit.

Bybit is looking forward to stemming more local presence in all promising markets with the ambition to provide a global, inclusive experience as a one-stop crypto destination. Part of this strategy includes setting up strong localized leadership teams to serve customers with unparalleled customer service. More leadership appointments can be anticipated in the near future as Bybit scales its mission to empower more crypto believers to achieve their dreams and their freedom.

Before Bybit, Gogus has worked in Huobi Global since 2019 and shortly after, as General Manager for Turkey, Russia, and Ukraine. Under his leadership, he has delivered impressive results for the expansion of the cryptocurrency business in these markets with his decade-strong experience from his previous leadership roles at other crypto platforms and startups. With a steadfast track record in the Turkish market, Gogus will bring his wealth of expertise in blockchain, digital assets and vision for the future of finance to Bybit to take its Turkish operations to the next level.
 

To lead FinTech’s credit card business 

Zaggle, a profitable SaaS FinTech company and a pioneer in digitizing business spends, today announced the appointment of Mr. Saurabh Puri as its Chief Business Officer - Credit Cards. Mr. Puri's appointment comes at an opportune time as the company prepares to enhance its product line by adding innovative offerings as part of a holistic service proposition for its users. He will work towards developing and leading the credit card business in partnership with Banks and NBFCs.  

Mr. Puri is a seasoned professional who has a proven track record of surpassing corporate growth objectives and expertise in identifying and managing key business drivers, as well as achieving and exceeding customer expectations. Before joining Zaggle, he was the Business Head - Credit Cards at Kotak Mahindra Bank, where he handled business transformation initiatives as well as the brand expansion mandate across verticals.

Saurabh has 24 years of experience, 18 years of which was spent in mastering the credit card and unsecured lending area. Saurabh will work collaboratively with Mr. Avinash Godkhindi, Zaggle's MD and CEO, to further augment the growth momentum of Zaggle in the fast-growing Indian and global SpendTech markets.

Zaggle has constantly endeavored to provide a better experience to its customers by working on evolving technologies. The company began its journey in 2011 with the vision of developing a digital ecosystem that would connect corporations and their users with partner merchants through its innovative FinTech solutions. The appointment of Saurabh Puri will further help the company expand itself.

On the leadership appointment, Raj N., Founder and Chairman of Zaggle said, “Zaggle is preparing for the next phase of growth and global expansion as we see tremendous opportunity to define the SpendTech space in India. As we march on this exciting journey at full speed, I am very pleased to welcome Saurabh who along with his team will be responsible for expanding Zaggle’s business offerings substantially and drive to our business and market expansion strategies. I am confident, his leadership will drive Zaggle towards greater heights in the coming days and years.”

Welcoming Saurabh Puri, Mr. Avinash Godkhindi, MD and CEO, Zaggle, said, “We are delighted to have Saurabh aboard with us to lead the credit card business. Credit cards are a deeply under penetrated product category and present a hugely opportunity in India which will drive the next phase of the country’s FinTech ecosystem. With Saurabh’s experience, I am confident our Credit card businesses will evolve into our key business driver over the next few years.”

Sharing his thoughts, Saurabh Puri, Chief Business Officer - Credit Cards, Zaggle said, “Zaggle is one of the most reliable company with the capacity to meet the financial needs of its corporate and SME clients in order for them to tackle the ever-changing environment. I am pleased to be joining Zaggle and working with a team that is dedicated to developing cutting-edge products for the country's corporates to streamline their business automation. Zaggle has changed the SpendTech landscape in India in a short period of time, and I am excited to continue the vision of putting customer experience at the centre of this journey. Credit card is an underpenetrated product and hence there is a huge scope of expanding the market through partnerships. Zaggle being a SaaS Fintech can play a pivotal role in building innovative products and help capture the larger market share.”

Exactly® is reimagining the payment system process for businesses with payment processing tools that save businesses time and money while also allowing them to offer superior services to their customers.

Based in St. Albans, Hertfordshire, exactly® is a growing and trusted payment management system solution that empowers online businesses to work confidently. Founded more than seven years ago, exactly® stands out in a growing field by offering a wide range of payment solutions that are packed with capabilities and features, and the tool can be integrated with other payment processors for seamless operations both on-site and online.

Smooth Deployment that Handles Major Currencies and Credit Cards

A leading feature of Exactly is that it supports the world’s major currencies. This means that even small companies can truly go global and accept payments almost no matter what currency their customers are paying in. Further, the system can handle credit cards and digital money wallets, including Visa, MasterCard, Maestro, and others.

While support for various global currencies, credit cards, and digital wallets make exactly® a valuable tool for growth-focused companies, the system is built on and backed by industry-leading security features, so you can work with confidence. This robust and versatile payment gateway features full compliance with Payment Card Industry Data Security Standard (PCI DSS) and 3D Secure 2, meaning it has the world’s top tier of security for online credit and debit card transactions. It also is built with integrated anti-fraud protection and two-step authentication.

Built With Leading UI Features for Exceptional Performance

Inside exactly® payment processing system, users will find a collection of convenient functions built around an intelligent, easy-to-use user interface that makes formerly complicated tasks like invoicing, mass payouts and the creation of personalised payment forms simple.

Our other solutions include tools for recurring payments and payment links via a custom fund request. All functions are controlled from a clear user dashboard, with the option for real-time reporting and the ability to easily settle chargebacks and disputes. These tools make it easy for businesses to boost their business, grow easily, and comprehensively manage their financial operations.

exactly® offers three user packages, which enables teams to define user roles clearly. Those user packages include tools for analysts, owners, and managers, meaning that team leaders can allocate roles by function.

exactly® makes it easier than ever for companies of all sizes and in all industries to launch global operations using budget-friendly, security-conscious payment tools. Contact exactly.com today for a free demo to see just how powerful and easy to use the tool is.

A Forex turnkey solution is a way for businesses to create a Forex brokerage without the hassle of designing and developing an already functional infrastructure.

A turnkey solution is an investment method where someone else does all the leg-work in creating the entire system and then sells it to you as a finished product. For example, if you wanted to start a restaurant but didn't know how to find suppliers, negotiate deals with them, create menus, manage staff - basically everything needed to make the actual restaurant work. You could purchase or rent out one that's already established by another party instead of taking all the time it would take to do this yourself.

When you want to create a Forex brokerage but don't want to take all the necessary time and resources into developing it on your own, consider getting a Forex broker that offers turnkey solutions. When you do this, the broker will create everything for you so that there won't be any need for additional work when you're ready to get started. They'll handle designing the platform (the software) and provide dedicated servers that have been formatted specifically for those who require them. This will allow you to get up and running as quickly as possible. While this may seem like a great idea, it's essential to consider the pros and cons before making a final decision.

What are the possible benefits?

The benefit of choosing a Forex broker who offers turnkey solutions is that they'll create every aspect of the system for you from scratch. This means they'll provide software that has been designed with your specific needs in mind - without having to spend the time creating everything yourself. They will also offer dedicated servers that have been formatted specifically for those who require them, allowing you to start trading within minutes instead of having to worry about how well things are working or if everything is functioning correctly. Since all the work has already been done for you, all that's left to do is set up your accounts and start trading.

What are the features of a turnkey solution?

The features of a turnkey solution are:

- Software designed to fit your specific needs: A Forex broker turnkey solution will supply you with an application that has been designed and developed exclusively for the trading business you're trying to create. Since they've already spent time making it, they can ensure that it is precisely what your trading company needs to function properly. This saves you time since you won't need to create it yourself.

- Dedicated servers: Turnkey solutions are perfect for those who want a stable head-start. All dedicated servers have already been formatted specifically for people looking to open their Forex brokerage firm. No additional work will be required on your part, allowing you to get started right away - even if you don't know much about computers or proper server maintenance.

- Scalable options so you can expand as needed: If your Forex brokerage business starts gaining momentum and you want to grow, turnkey solutions are flexible enough for this. You won't have to worry about needing additional resources or even being able to afford them - all that's required is an extra fee which will be billed monthly.

What are the possible disadvantages?

The disadvantage of choosing a Forex broker who offers turnkey solutions when opening Forex brokerage is the initial cost of starting your own business. Taking this route will be more expensive than if you were to create your infrastructure from scratch. If you don't have any capital and need to look at loans as an option, it can become quite costly quickly. While several positive points are discussed on the benefits, differences should always be considered before making a final purchase or decision on anything involving money and investments.

What are the costs?

There will be several fees involved in turnkey solutions. The primary fee will be the initial cost, which can vary depending on the needs of your brokerage company. Fees will include hosting, software development, and any additional services needed for superior functionality.

Turnkey solutions are an excellent point to get started in trading. They provide pre-made software that has been designed to fit your specific needs, dedicated servers that have already been formatted specifically for individual needs, and scalable options so you can expand as needed. However, turnkey solutions can be relatively expensive, depending on the needs of your brokerage business. You'll also need to consider what makes the most sense for your company before making a purchase or commitment. However, turnkey solutions are an easy way to create your own Forex broker.

Oakland-based financial services company Lemonade Finance has partnered with Currencycloud, the experts simplifying business in a multi-currency world, to offer immigrants and businesses a more streamlined experience when sending money home to Africa.

By partnering with Currencycloud and providing business and consumer customers with multi-currency wallets, Lemonade Finance can make sending money home much easier for Africans living in North America and Europe. Now, Lemonade’s customers can not only hold multiple currencies but also settle to Lemonade Finance who then make onward payments to local African-based partners like Flutterwave.

Ridwan Olalere, Lemonade Finance CEO and Co-founder says: “Lemonade Finance is proud to partner with Currencycloud to continue delivering services that remain vital for Africans abroad. In an increasingly connected world, holding multiple currencies, and being able to send and receive money from home are top priorities for more than 38,000 African immigrants who use our app to send money to their loved ones. With this partnership, Africans abroad need never again encounter hold-ups sending money home to loved ones, or fail to pass on payments for necessities like school fees.”

Nick Cheetham, Chief Revenue Officer at Currencycloud commented, “There are millions of Africans who need to be able to send money home without friction. A Fintech like Lemonade Finance understands the needs of emigrants, and as such is successfully re-imagining how money flows for this huge market.”

The Lemonade Finance app is available to download from the App Store & Google Play now.

HubSpot, the customer relationship management (CRM) platform for scaling companies, today announced its partnership with alternative financing platform Pipe in which Pipe will provide access to a total of $100 million in fee-free funding for HubSpot for Startups customers, while Pipe customers will receive a 30% discount on HubSpot's CRM Suite. The partnership enables startups to pursue business growth with HubSpot's market-leading CRM platform while accessing growth capital through Pipe.

For founders who are looking to scale their businesses, the prospect of raising capital while managing the operations of their companies can feel especially daunting. The process often requires business leaders to take time away from their responsibilities to manage the logistics of fundraising, which can stifle productivity and inhibit growth. With its ability to reduce friction in this process, Pipe is at the forefront of alternative financing platforms by allowing startups to transform their recurring revenue into up-front capital–freeing up executives' time to focus on growth. Just as HubSpot is helping millions of organizations manage their customer relationships and integrate their tech stack seamlessly, Pipe's platform helps companies finance growth on their own terms without restrictive debt or dilution.

"At HubSpot, we know that growing startups need marketing, sales and service skills; the right tools to implement these skills; and the capital to invest in these strategies," said Andrew Lindsay, SVP of corporate & business development at HubSpot. "This new partnership with Pipe deepens our commitment to helping young startups via quick and easy access to the capital they need to scale."

Startups can access this program in one of three ways:

• New and existing Pipe customers will receive 30% off HubSpot's CRM Suite to help expand their reach and build their brands.
• New and existing HubSpot for Startups customers will receive access to up to $100 million in fee-free financing on Pipe's platform to scale their businesses.
• Interested startups that are not currently Pipe or HubSpot For Startups customers can still apply for the program after becoming a customer of any of the program's affiliated partners.

"Pipe is committed to giving startup founders the resources to grow on their terms by giving them direct access to the capital markets," said Brad Coffey, Chief Customer Officer at Pipe. "By partnering with HubSpot, we're making access to growth capital available to millions of companies, along with the tools to help customers scale their businesses. It's a win-win for startups."

This partnership is launching a year after HubSpot announced its investment in Pipe through HubSpot Ventures, which found a common focus in Pipe's ability to utilize ecosystem partnerships to drive growth. It adds to HubSpot's continued commitment to arming startups with the resources they need to be successful, which can be seen through its investments in programs like HubSpot Academy, HubSpot for Startups, and HubSpot Ventures.

To learn more about this partnership or to apply, please visit https://www.hubspot.com/startups/partners/pipe.

Reserve Bank of India's (RBI) 's decision to allow banks and NBFCs (including HFCs) to co-lend has created ripples within the Indian fintech sector. The move allows banks and NBFCs to leverage their respective strengths and offer better lending options to the masses. Termed the 'Co-Lending Model' (CLM), this has emerged as one of the biggest trends to watch for observes Mr. Rachit Chawla who is a SEBI registered Investment Advisor and an expert in the finance sector running successfully his RBI registered NBFC Finway FSC since a long time.  

We have seen many such instances recently to justify this claim when big corporations have associated with public sector banks. In December 2021, State Bank of India (SBI) joined hands with Adani Capital Private Ltd (Adani Capital) to offer loans at an affordable cost to farmers to purchase tractors and other resources. The largest public-sector bank in India has already expressed interest in exploring co-lending opportunities with different NBFCs. Experts believe that bank-NBFC co-lending would eventually benefit all parties, including the borrower. 

In the Co-Lending Model, partner banks and NBFCs are expected to make joint decisions regarding loan approval, depending on their respective stakes and interests. It is expected that banks would bear a higher stake in these loans but are likely to gain from the experience and reach of NBFCs. 

"Banks in India are not as tech-savvy as the new age fintech NBFCs, which undoubtedly have a better reach, especially when it comes to small-scale lending. While banks have the capital and bandwidth to lend more, new-age fintech NBFCs have the expertise & know-how of the local markets to bring these loan offers to the masses," - Rachit Chawla, the founder of RBI-registered NBFC Finway, said in a statement.

NBFCs, on the other hand, will gain from the capital and market control of the banks. NBFCs perform better as loan originators and offer better customer service, which could benefit banks that often have more disgruntled customers.

"There is no denying that NBFCs in India still have a long way to go. However, NBFCs are already catering to a market segment that doesn't traditionally interest big financial institutions. For NBFCs, the co-lending model could mean taking their services to a wider audience and gaining from banks' brand appeal. In short, a win-win situation for everyone involved. In fact, almost 20% of the pandemic lending has happened through co-lending, which should be a big indicator as far as lending trends are concerned," Mr. Chawla further added. 

Bank-NBFC co-lending is expected to peak further in India with further tech advancements. While there have been initial challenges in these collaborations, Mr. Chawla believes that the market will rise. Banks can rely on these NBFCs for outreach, and the latter can rely on the bigger banks for minimizing expansion and funding challenges. 

Nuvei Corporation announced today its partnership with XT.COM to facilitate the onboarding of new users. The collaboration between Nuvei, via its Simplex cryptocurrency on/off ramp solution, and XT.COM, one of the leading global cryptocurrency exchanges, will make it easier for users to fund their accounts through convenient payment methods.

The partnership between Nuvei and XT.COM is expected to introduce many new users to the XT.COM platform as they can fund their accounts with credit and debit cards, Apple Pay and bank transfers, allowing for quick and seamless access to over a hundred crypto assets.

XT.COM, the world's first social-infused exchange, has over 300,000 active users every month and over 30 million users in total. Integrating Nuvei's leading payment processing solution enables XT.COM users to acquire crypto assets conveniently and securely directly on the platform.

XT.COM provides access to a diversified range of products, including spot, derivatives, interest-free margin, fiat trading, ETF instruments, and coin staking. Users can access the XT.COM platform on desktop, laptop, or mobile devices through dedicated Android and iOS applications.

The partnership with XT.COM expands Nuvei’s reach into various regions across Asia, North America, and Europe. XT.COM partners include Btok in Asia and Tapatalk in North America and Europe.

“Crypto is accepted more and more by society. But how to connect from fiat to crypto, that is the biggest barrier for most users. By cooperating with Simplex by Nuvei, we can help users from all over the world to easily enter the crypto world,” said Weber Woo, CEO of XT.COM.

“We are delighted to support XT.COM with our global on-ramp solution,” said Philip Fayer, Chair and CEO of Nuvei. “Our partnership will enable millions of new users to join the cryptocurrency ecosystem with a familiar eCommerce experience of using everyday payment methods.”

NTT DATA, a digital business and IT services leader, today announced the results of its annual global banking research report. The report compared the latest demands from the largest corporate businesses with current investment priorities of global banks. It found a shift in post-pandemic corporate banking towards more integrated, digitized, sustainable banking aligned to the new generation of millennials taking up senior positions in corporate businesses.

The research was conducted across 12 countries and interviewed 880 senior decision-makers across banks and corporates to gain a deep understanding of how corporate banks must futureproof themselves. It found that accelerated adoption of technology combined with generational shifts in clients, and the ongoing recovery from a global pandemic has fundamentally changed banking.

Corporates are now three times more likely to primarily communicate with their bank through APIs (Application Programming Interfaces – a form of machine-to-machine communication) versus primarily communicating person-to-person. The traditional corporate banking image of personal client relationships is confined to history as corporates prioritize end-to-end digitization and frictionless banking. 85% of banks report they are working on rationalizing their portals, a change driven by client-centricity and improving the customer experience.

Miguel Mas, Director, Global Corporate Banking explained: “Our research found the future of corporate banking is more integrated, more digitized, and more sustainable. New regulation is one driver behind change, but ultimately, it’s a generational shift that’s redefining how banks need to operate. We’re seeing the speed of corporate banking is accelerating, and the pace of technology change is increasing too. Banks are investing in new technologies such as AI and automation, all driven by customer demand.”

The research found that banks increasingly need to fuse their services with the evolving needs and demands of their customers. More specifically, corporate demand is shifting from traditional trade and working capital products to more structured products. Technology is changing too. Banks are starting to bring in more automation and they are using advanced machine-learning-based models in areas such as credit risk analysis.

There was evidence that banks need to listen to their corporate customers and their specific industry needs to deliver the services they demand. For instance, 70% of construction companies report unmet demand for omnichannel corporate cash management and lending solution. Product offerings still sit outside the integrations of their commercial banking platforms.

ESG has become a key consideration for corporate banks. As the world looks to the future, regulators and policy-makers are becoming more vocal about the need for greater adoption of ESG. They recognize that moving towards a low-carbon economy is going to create additional complexities for financial services firms – and increased risk too as companies they service adapt.

Corporates want to bank with a firm that reflects their own views and beliefs as a new generation of corporate banking clients are prioritising the environment and sustainable banking. The study found 48% of corporate respondents wanted their banking provider to invest in more “green” or sustainable products and services. This demand is being met – to an extent. On the banking side, 44% report they are already investing in it. 

Miguel Mas, Director Global Corporate Banking explained: “Sustainability is a key battleground. Almost half of corporates want more investment in this area from their banks and the most forward-looking are building ESG-focused product teams to work on solutions to satisfy this need. It’s also a business opportunity that could gain them an edge over competitors.”

The Depository Trust & Clearing Corporation (DTCC), the premier post-trade infrastructure for the global financial services industry, today announced that two new members were elected to its Board of Directors during the firm’s Annual Shareholders Meeting. The Board plays a critical role in setting the strategic direction of DTCC, providing oversight and offering guidance on topics including risk management, regulatory matters, technology, innovation and the development of new products and services.

The new directors are William (Bill) Capuzzi of Apex Fintech Solutions and Kelley Conway of Northern Trust.

William (Bill) Capuzzi is CEO at Apex Fintech Solutions. Capuzzi sets the vision and strategy to help the company identify new areas of growth and opportunity and has led dedicated efforts to evolve the industry as consumer demands and technology advances intersect. He has spent his entire career in the trading, clearing, and custody business with over 20+ years of experience. Prior to Apex, Capuzzi held past senior leadership positions at Convergex, Pershing, and DLJ.

Kelley Conway is Executive Vice President, Head of Corporate & Digital Strategy at Northern Trust. Conway leads the company’s strategic planning process and plays a key role in the creation of an enterprise digital strategy and roadmap to enhance client experience, produce quicker business outcomes and improve security, stability and scalability. She brings more than 20 years of consulting experience in technology strategy, with past roles at Accenture and PwC.

“We are pleased to welcome Bill and Kelley to the Board of Directors,” said Robert Druskin, Non-Executive Chairman of DTCC’s Board. “Each brings decades of leadership and experience in financial services technology, which will be invaluable as DTCC continues to drive innovation by bringing new solutions and capabilities to market. We look forward to their insights and contributions.”

The DTCC Board of Directors is currently comprised of 22 Directors. Of these, 14 are participant Directors who represent clearing agency members, including international broker/dealers, custodian and clearing banks, and investment institutions; four are non-participant Directors; two Directors are designated by DTCC's preferred shareholders, ICE and FINRA; and the remaining two Board members are DTCC's Non-Executive Chairman and its President and Chief Executive Officer.