- Accounts Payable activity for the fashion brand now only takes 10-15% of the finance team’s time -

Lulu Guinness, the quintessentially British and iconic handbag brand, has partnered with Yooz, the cloud-based provider of real-time purchase-to-pay (P2P) automation software, to transform its financial department and provide a 100% remote workforce.

For a business that achieves £10+ million of sales per year through its single flagship store in the heart of London’s Covent Garden, as well as a successful online store selling handbags and accessories all over the world, accurate financial processes are a must.

But to continue its growth and support its entry into new markets across Asia, Lulu Guinness quickly realized it needed to transform its finance capability with modern technology.

Simon Rose, Finance Consultant at Lulu Guinness, identified that processing 150+ invoices per month using an email-based process with no full-time accounts payable (AP) manager was laborious and ineffective if the business wanted to continue to grow.

A Yooz report showed EU businesses spend 36 hours a month on average managing vendor invoices, with the average time taken to approve invoices around 19 hours.

It was clear that the existing Accounts Payable (AP) process was no longer fit-for-purpose, and the need for a reliable cloud-based AP automation solution was a critical business requirement.

Able to connect directly to Netsuite, the integration of Yooz allowed for tailored user access according to job function and financial responsibility, making user adoption much easier across the business.

Rose explains, “What I liked about the Yooz software is the simplicity. It does what it needs to do and it’s really user friendly. I think it was a one-hour job for me to follow the instructions and get Yooz set-up and intertwined with Netsuite - that was priceless.”

With Yooz software, Lulu Guinness can remain confident that all invoices are accurately captured and stored correctly as part of an automated invoice processing system.

With only two people in the finance team, efficiency for Lulu Guinness is key. With the automated workflow process in Yooz, the Lulu Guinness finance team avoids misplacing any invoices, has eradicated any potential for human error and, crucially, is able to export financial data directly into Netsuite - saving time and money.

“The accuracy that Yooz provides has been massively important” continues Rose, “You can search directly for what you need thanks to the search function. By just typing the name of the supplier you can access all the invoices, and with just one click you can bring up any invoice on screen.”

Coinbase, the world-leading cryptocurrency exchange, today announces support for Ledger hardware wallets in its Wallet extension. The move provides an added layer of security to users of the service and further reinforces the self-custody experience for Coinbase customers. 

Ledger is an industry leader in hardware wallets, providing state-of-the-art security to more than four million customers who rely on the provider to keep their crypto assets secure. 

Key features include:

• Coinbase Wallet acts as a passport to collecting NFTs, participating in DeFi, joining a DAO, and much more
• As customers spend more and more time on the blockchain, asset security is as important as ever 
• There are several ways customers can ensure the security of their assets whilst exploring web3
  • It starts with your recovery phrase (n.b. Coinbase will never ask you for your recovery phase)
  • Then backing it up to a secure location and making sure you never share it with anyone
  • Coinbase Wallet offers additional layers of security, using biometrics and a PIN to secure your wallet
• All you need to do is download the Coinbase Wallet browser extension, connect your Ledger to your computer, and follow the on-screen instructions
• To celebrate launch, Coinbase have partnered with Ledger to release the Nano X Coinbase Edition, which is available for a limited time in Ledger’s online store
• Going forward, Coinbase will continue to build out support for more hardware wallets across all of its users’ devices

See the full blog post here.

A Coinbase Spokesperson adds: “Our mission is to empower our customers to utilise dapps and access web3 in the easiest and safest way possible. Today’s release adds a supplementary layer of protection, enhancing Coinbase Wallet and therefore our customer’s experience. We maintain ambitious plans to deliver additional hardware wallet improvements, not only in Coinbase Wallet but within our mobile apps as well”. 

• Rory Maclean joins from fundraising platform Givergy and will lead on expansion of programme enabling charities to increase donor base
• Currensea’s ‘powered-by’ charity branded card programme allows cardholders to roundup UK spending and convert savings made on overseas foreign exchange charges into charitable donations
• Currensea’s money-saving card can also be used as part of an employee benefit package by corporate partners

Currensea, which has created a money-saving debit card linked to existing bank accounts, has created a new Head of Charity and Corporate Partnerships role to develop its ‘powered by’ offering for charities and corporate partners.

Rory Maclean has joined Currensea from Givergy, an award-winning fundraising platform, where he was Head of Sales and responsible for helping hundreds of charities and corporates maximise their fundraising at events and online. Prior to this, Rory was also Business Development Manager at Givergy, a former winner of the Institute of Fundraising’s Best Digital / Tech Partner award.

Rory’s focus at Currensea will be centred around the development and expansion of the fintech’s ‘powered by’ offering which launched in 2021 and allows charities to issue branded cards to their supporters so they can roundup UK spending to the nearest 5p or convert savings made on overseas spending into charity donations.

As the average person makes 380 debit card transactions per year in the UK*, the ‘powered by’ programme offers charities a unique additional revenue stream, with potential donations of almost £24 per person, including Gift Aid, from roundup spending in the UK alone. 

Abroad, Currensea’s card offers customers savings of at least 85% on overseas transaction fees – customers can then opt to donate all or part of these savings to charity.

The most recent partner of the ‘powered by’ programme is St Martin-in-the-Fields Trust, a charity supporting the work of the iconic central London church including helping women move away from homelessness.

Rory Maclean, Head of Charity and Corporate Partnerships at Currensea, says: “This is a really exciting time for Currensea as well as our charity partners. ‘Powered by’ is a unique offering in the sector, making it quicker and easier for donors to support the causes they care about, without the need for charities to invest huge amounts of resource in developing their own in house financial or technology arm. I can’t wait to see charity branded cards being used around the world!”

James Lynn, Co-Founder of Currensea, comments: “Rory is a fantastic addition to our team at Currensea, bringing a wealth of expertise in supporting charities to scale up their fundraising activity and access additional revenue streams. He’ll play a pivotal role in expanding our partnerships to ensure that more charities across the UK can increase their donor base.

“Our ‘powered-by’ programme is something we’re hugely passionate about and believe it’s innovative option for customers looking for more control over how they spend their money. Rounding up spending is a simple way of giving back to our community, with a small contribution making all the difference. For charities, it unlocks the potential for engaging with a brand-new supporter base and an opportunity to drive donations.

“The programme is a perfect example of the opportunities embedded finance can offer charities – there’s no need to spend huge amounts developing a tech approach, instead partnering with innovative fintechs to reap the benefits of streamlining the donation process.”

As background, Currensea allows its users to access the best foreign exchange (FX) rates at only 0% to 0.5% above the FX base rate. With high street banks typically charging 3%-5% per transaction abroad, Currensea saves at least 85% on every transaction abroad by cutting out the normal fees. For example, a user spending $1500 while visiting the USA can choose to contribute 50% of their savings – over £20 – while still saving money on foreign exchange.

The Currensea card uses secure technology called open banking – a secure data-sharing approach between financial institutions – to connect directly to someone’s bank account with their approval, allowing travellers to make overseas transactions directly from funds in their current account, whilst avoiding high bank fees, and UK users to use the round-up function.

Seasoned telecoms HR specialist to support company’s strategy and growth

Colt Technology Services has appointed Catherine Leaver as its new Chief People Officer, with immediate effect.

A seasoned telecoms industry HR executive, Leaver comes to Colt from Telefónica Group, where she has spent the last 16 years in senior HR leadership roles, latterly as HR Director and member of the Executive Team at Telefónica UK - O2.

As she joins the Colt Executive Leadership Team, Catherine brings a wealth of experience in working across international workforces and in building strong teams, delivering change and driving results, while making sure the wellbeing of the organisation remains a top priority. Based at Colt’s London headquarters, Leaver will report to Colt CEO Keri Gilder and work closely with the other members of the company’s Executive Leadership Team. She will also chair the Inclusion and Diversity Council at Colt.

Outside of the office, Leaver is passionate about nature and the natural world. She is a big believer in rewilding and nature restoration and the impact that large-scale, long-term ecosystem restoration projects can have on how people live alongside the natural environment.

Colt’s CEO, Keri Gilder said: “Our people are front and centre of our business and how we support customers, so this is a key appointment for Colt. Catherine joins Colt at a critical time for the company and brings a wealth of experience from within the telco sector – particularly in driving the HR function internationally and supporting strategic initiatives – so it’s an ideal fit for Colt.”

Colt’s new Chief People Officer, Catherine Leaver, said: “This is a really exciting time for Colt, and I feel my experience will help me play a critical role in delivering against its strategy and objectives. I’ve been impressed by the company’s customer and people centric approach, particularly around diversity, and I look forward to chairing its Inclusion and Diversity Council, as well as supporting the Colt teams across the world and ensuring Colt continues to be an employer of choice in all the markets we operate in.”

Recognised as a Visionary in the Gartner 2021 Magic Quadrant for Network Services, Colt also received Frost & Sullivan’s 2021 European Customer Value Leadership Award. The company has industry-leading Net Promotor Scores (NPS), reflecting Colt employees’ high motivation.

The new platform combines Deep & Dark Web Monitoring with Evidence Creation, Digital Risk Protection and Threat Intelligence for exceptional visibility into dark web risks

Utimaco, a leading global provider of IT security solutions, introduces the latest addition to its cyber security solution portfolio: Utimaco Deep Dark Web System. The solution is designed to support business analysts and investigators in law enforcement with sophisticated dark web monitoring tools and automation, required to prevent criminals profiting from stolen data.

Businesses, organizations and individuals could all benefit from knowing whether information about them, their employees, or their customers, is available on dark net marketplaces. However, an estimated 96-99% of the internet is the ‘deep web’ – sites that are not indexed by any search engine, and which often need specific login credentials to access.

Utimaco Deep Dark Web System provides a way to search the dark web for key terms in a similar way to media tracking services. By doing this, companies can identify and gain intelligence on threats that may emerge and have the opportunity to protect themselves and their customers.

Key features of Utimaco Deep Dark Web System include:

• Exceptional visibility into an organization’s dark web risks, allowing organizations to take action against threats before they become incidents.
• Best in class technology with 10+ years of proven algorithms
• Based on secure servers located in Germany
• Supports documented access to all known Deep & Dark Web (DDW) sites
• The only solution available as SaaS and on-premises installations

The combination of Utimaco Deep Dark Web System’s powerful technology and Utimaco’s long-standing expertise in Cyber Security makes this new solution a compelling offering for organizations that want to stay ahead of the game against cybercrime.

Utimaco is already a trusted partner to organizations in Banking and Financial services, Telco, Automotive, IT, Manufacturing and Cloud Service Providers as well as governments, authorities and Critical Infrastructure Providers.

Utimaco Deep Dark Web System is now available for testing, including full system access, with a complimentary trial account. For more information, please visit: https://utimaco.com/

Surecomp® today announced that it is partnering with Enigio - the Stockholm-based provider of digital original documents. Enigio’s trace:original solution will be embedded into Surecomp’s cloud-based solutions to provide financiers, corporate traders, insurers and other trade participants with the ability to create and fully manage digital negotiable instruments, documents of title and other trade documents, all with the assurance that their content has not been manipulated or altered. 

The digital document technology integrated through open-API connectivity, will allow Surecomp’s customers to create, manage and exchange digital trade documents such as Letters of Credit and Bank Guarantees in their original state, knowing they will behave and perform exactly as any paper based original. The fully ITFA, DNI and MLETR-compliant solution enables a secure and expedited trade finance process with the significant cost-efficient and environmental improvements associated with eliminating a paper-based process.

“We see this partnership as critical to the evolution of creating an industry standard for digital trade,” explains Patrik Zekkar, CEO at Enigio. “As one of the leading process automation technology providers, it means Surecomp together with Enigio, can now provide customers with the confidence to digitize trade documentation with interoperability and MLETR-compliance without the worry of lagging behind.”

“Our customers rely on us to enable them to carry out their trade finance transactions in the most efficient, cost-sensitive and sustainable way,” says Enno-Burghard Weitzel, Surecomp’s SVP of Strategy and Business Development. “This new collaboration is another key stride forward in continuously enhancing the value Surecomp brings to our corporate and bank customers using our Trade-Finance-as-a-Service cloud-based solutions.”

Shortly after announcing its move to the SKALE network, a fully EVM-compatible multichain solution based on the Ethereum blockchain, 3air followed with news about the next step in its rollout in Africa. 3air and telecom partner K3 Telecom are going to expand operations to Ethiopia.

An MOU was signed on February 17 which includes an investment of $10 Million USD to build out K3’s Telecom infrastructure in Ethiopia, starting with its capital Addis Ababa. 

As the official partner of K3 Telecom, 3air is contributing to this expansion and is looking forward to the large potential this new market represents. 

With about 115 million people (2020), Ethiopia is the second most populous nation in Africa after Nigeria, and still the fastest growing economy in the region, with 6.1 percent growth in the financial year 2019/20 (worldbank.org). 

Ethiopia is a particularly attractive market, as there are several highly populated cities that lack reliable broadband connectivity. The goal is to start the rollout in Addis Ababa and expand to additional cities shortly after. It is estimated that 3air and K3 Telecom could potentially reach about 3 million households and businesses in Ethiopia.

The setup of the local company and production of building materials is set to start immediately. Thanks to the quick rollout K3 Telecom provides with its innovative “Cable Through the Air” solution, it is possible to put the infrastructure in place within the next 6-7 months. K3’s technology does not require time consuming and expensive digging of underground cables, which will enable them to cover more than 90% of the capital city using radio frequencies to deliver broadband connectivity within a matter of months.

In 2020, the government of Ethiopia launched its digital transformation strategy with the goal of leveraging digital technologies to foster development and growth for every citizen. 3air aims to be a leader of change by providing digital identities, bankless payments and microloans to individuals and businesses through its platform. 3air’s token is built on SKALE, a multichain network that provides 3air with its own blockchain network for lightning-fast transactions.

For more news and details on 3air’s expansion in Africa, read more on https://3air.io/.

Vantage, the international multi-asset broker, announces today that it is sponsoring the iFX EXPO Dubai and Affiliate World Global Dubai events, as part of its ongoing commitment to the MENA region.

This announcement follows closely after Vantage’s recent McLaren Extreme E sponsorship announcement on February 16.

iFX EXPO Dubai is a three-day event, taking place between 22 and 24 February at the Dubai World Trade Centre. It is the largest global fintech B2B exhibition, accommodating the leading online trading, financial services and fintech companies. Placed at the intersection between the east and west, iFX EXPO Dubai plans to align top-level executives across various industry fields.

At the event, Vantage will contribute to raising awareness for the most salient emerging trends in fintech. For one, the increase in demand for decentralised finance, or DeFi, is at the epicentre of change as consumers are demanding more open, safe, and accessible financial systems. Nadine Azzam, Vantage’s recently appointed Head of MENA will also be speaking at the event.

The team will then move onto the Affiliate World Global Dubai, which is a gathering of the world’s top affiliate marketers and ecommerce partners, taking place in Dubai on 28 February to 1 March. This is the largest Affiliate World Conference in the world, and yet another crucial stop for the biggest industry players in the region.

In recent years, Vantage has expanded its presence in several key markets as part of its global expansion strategy. That includes the MENA region for which Dubai serves as a key hub. With the increasing sophistication among retail traders and a subsequent demand for improved brokerage services, the company hopes to make significant inroads into the region with its attractive product and partnership offerings.

“Dubai is an increasingly big market for us, where clients are looking for trustworthy, globally regulated, and reputable brokers to trade with. We have already established a good team in the region, but now we want to ramp up our brand recognition, which these prestigious and established events will support,” says Marc Despallieres, Chief Strategy Officer at Vantage. “As we continue our global expansion, we believe we can take the trading experience further up a notch. Our sponsorships of these two important Dubai events, and the appointment of Nadine is just the beginning, and we’re excited for what comes next.”

Nadine Azzam, Head of MENA, comments: “Having joined Vantage recently, I can already see the push towards driving real change in the MENA region. My goal has always been to provide better opportunities to local traders, with a particular focus on flexible services and products that leverage the best technology. And as fintech takes over in Europe, consumers in MENA are raising their expectations too. At Vantage, we’re getting ahead of the curve and investing heavily into this region to ensure our clients can execute better trades, anywhere in the world.”