The first-of-its-kind Tillful Card aims to create a more inclusive credit system

Tillful is the flagship product of Flowcast, the leader in AI credit risk models backed by ING Ventures. Tillful gives Main Street SMBs access to a new kind of business credit score–using real time, alternative transaction data–along with previously unavailable credit-building tools and services, including now the Tillful Card.

Launching in early 2022, the Tillful Card aims to help new and emerging businesses as well as underrepresented owners of small businesses. This historically “credit invisible” segment of SMB borrowers tends to face more challenges to stay in business due to lack of credit history, which decreases their access to credit from lenders. The Tillful Card enables SMB owners to maintain and grow their businesses in several ways:

• Cardholders can immediately begin making business purchases online, in-app and at the point of sale using their virtual card
• Payment history is reported to credit bureaus to help build business credit quicker
• Includes a rewards program tailored to SMB owners
• Business owners can create an unlimited number of virtual cards for their employees as well as to make vendor payments, at no cost
• Option for monthly payments compared to fixed daily or weekly payments
• No minimum bank balance requirements for approval

Highnote will be providing the card issuance infrastructure and program management capabilities as well as supporting embedded banking and payment services, and the Tillful Card features Mastercard as the exclusive card network. Tillful teamed up with Highnote and Mastercard because of their deep industry experience in payments and financial services and their commitment to advancing the SMB segment, in addition to increasing equitable and sustainable financial inclusion.

“Tillful’s core mission is to make the credit ecosystem accessible to the Main Street small businesses who are overlooked for financing opportunities by conventional banks and lenders,” said Ken So, CEO and co-founder of Tillful. “In Highnote and Mastercard, we have technology partners as equally customer-obsessed as we are, that together are building innovative solutions to help SMBs build credit and achieve their full potential.”

“We built Highnote to be a truly modern card issuance platform, one that lets any visionary company, from startup to global enterprise, create, iterate, and scale innovative embedded card issuance experiences to grow customer loyalty, engagement, and revenue,” said John Macllwaine, Highnote’s co-founder and CEO. “Now, in partnership with Tillful, we’re excited to help Main Street SMBs gain access to the credit they need to build tomorrow’s best companies.”

“As the small business segment continues to grow and digitally transform, it is imperative that we provide tools and resources that work harder for them and create an inclusive economy,” said Sherri Haymond, Executive Vice President, Digital Partnerships at Mastercard. “Together with Tillful and Highnote, we are helping small businesses access the credit they need and the digital financial solutions they deserve to build and sustain their operations for the future.”

To learn more and join the Tillful Card waitlist for early access to apply, visit tillful.com/card.

·             To lead tech-led underwriting, AI and risk analytics

·             He brings over two decades of experience, including over 15 years at leading NBFC, TATA Capital

·             CRO to drive tech-driven underwriting, AI and risk analytics initiatives at Moneyboxx

Moneyboxx Finance Limited, a BSE-listed NBFC which provides small-ticket business loans to micro and small enterprises in Tier-III towns & below places, today announced appointment of Mr. Vikas Bansal as Chief Risk Officer from Feb 2022. Mr. Bansal served as National Credit Manager – Emerging Business and Digital Lending in his previous role at TATA Capital.

He brings with him over 20 years of rich experience in the financial services industry, including over 15 years at TATA Capital where he was instrumental in building high-quality portfolio across emerging businesses, supply chain, equipment finance and mid-market. Vikas’s areas of expertise include credit underwriting, risk assessment, portfolio management, strategic planning, and digital lending across Retail and MSME space.

Commenting on his appointment, Mr. Mayur Modi, Co-founder, Moneyboxx Finance Ltd said, “In addition to continuous investments in technology, we have built a strong team and are excited to onboard Mr. Vikas Bansal as Chief Risk Officer. We have a robust and highly scalable business model which is powered by entirely digital process and risk analytics and have solid branch unit economics with negligible capex and reasonable operating costs. Vikas brings with him over 20 years of experience in the financial services industry, and he will be instrumental in further driving our tech-driven underwriting, AI and analytics initiatives.”, he added.

Vikas Bansal, Chief Risk Officer, Moneyboxx added,

“MSME sector is a major contributor to the socio – economic development of the country and would be a key driver to achieve the $5 trillion mark for Indian economy. This under-served sector has immense potentials which can be unlocked through innovations in technology, data analytics and risk assessment. Moneyboxx Finance Limited commenced its journey with a mission to provide easy, cost efficient and technology driven financing solutions to micro enterprises, creating positive impact not only to an enterprise but the eco system around it. I am excited to join them in this journey and look forward to build robust, dynamic Credit Underwriting & Risk Assessment systems to bring operational excellence backed by technology & data analytics.” 

One of the region’s fastest-growing FinTechs, Pyypl (pronounced “People”), announces it has closed a US$ 11 million series A financing round with participation from a diverse group of international family offices and HNWI’s.

The Brazilian unicorn has given more than 70 million Latin Americans access to global digital sites and services, and currently operates in 15 Latin American countries

Today, February 10th, EBANX, the leading payments platform in Latin America, celebrates 10 years since its founding as it closes in on a major milestone of one billion payments processed across 15 countries. 

The Brazilian fintech, co-founded by Alphonse Voigt, João Del Valle and Wagner Ruiz in 2012, began its journey by offering cash vouchers as a payment method to international e-commerce sites that wanted to sell goods in Latin America, and became the first unicorn in the southern region of Brazil and a reference for payments processing across the region. Currently, it counts more than 1,000 global companies as part of its customer base, and more than 70 million Latin Americans have made purchases using its payment solutions.

"In these 10 years, we have been able to witness important transformations in the digital market, in the payments industry, and in innovation ecosystems around the world. We are pleased to have actively participated in these movements in Brazil and Latin America, using cutting-edge technology and local knowledge," said João Del Valle, co-founder and CEO of EBANX. "Today is the day to celebrate all the achievements so far – but, above all – to outline the new challenges ahead, always with the clear mission of creating more access between people and companies from all over the world."

With offices in ten countries today, EBANX grew more than 110 percent in processed volume in 2021, and will continue to focus on offering the best products and services to its global customers, expanding its operations, and maintaining the consistent growth of its operations.

10 milestones in EBANX's history:

• In 2012, Alphonse Voigt, João Del Valle and Wagner Ruiz founded EBANX in Brazil and, in the same year, the startup was selected into the Endeavor network, becoming the smallest company in the organization's portfolio.

• In 2013, EBANX conquered its first global customer, connecting a major international e-commerce player to Brazilian customers through its payment solutions. Currently, there are more than 1,000 digital commerce companies in EBANX's portfolio that sell products and services to consumers throughout Latin America.

• In 2014, the preparation to expand internationally began and, in 2015, the company established operations beyond Brazil, in Mexico and Peru. Today EBANX operates in 15 Latin American countries.

• In October 2019, EBANX became a newly minted unicorn – the first tech startup from the southern region of Brazil to surpass a $1 billion valuation after a follow-on investment from FTV Capital, a U.S.-based growth equity investment firm. The firm had already invested in EBANX, announced in January 2018, for $30 million, with participation from Endeavor Catalyst. That was the first investment received by the fintech company and added to the business FTV's expertise in the payments industry and Endeavor's high-impact entrepreneurship knowledge.

• 2019 marked the beginning of its portfolio diversification as EBANX began to go beyond international payments by adding local payments operations in Brazil. In the same year, the company launched EBANX Track, a tracking app for global e-commerce sites focused on  Latin American consumers. In early 2020, it launched EBANX GO, a digital wallet offered to consumers with a partner.

• In 2021, EBANX launched EBANX ONE, a first-of-its-kind platform that connects all its payments solutions through a single integration. It is a complete payments solution with proprietary technology that allows global and regional companies to have hybrid combinations of operating models across LatAm. The breakthrough innovation was the culmination of almost ten years of expertise garnered by operating EBANX's core payments business.

• In the same year, EBANX announced Advent International's mega investment round of $430 million, Advent's largest investment in a Latin American technology company, and the second-largest funding round received by a LatAm fintech company in 2021.

• The acquisitions of Juno and Remessa Online, two Brazilian fintechs, closed during 2021, as well as the deal to acquire shares of Banco Topázio, further strengthening EBANX's portfolio diversification.

• In January 2022, EBANX strengthened its local operations in Mexico, with a focus on serving companies in the country in addition to global merchants. It opened a new office in Mexico City.

• In February, EBANX announced the appointment of Paula Bellizia, a former VP at Google, as the new president of Global Payments; reinforcing the expansion of its global services and crowning a movement to consolidate EBANX as a payments leader, following the appointment of Alexandre Dinkelmann as its new CFO in 2021.

The open finance growth strategy and development of a sustainable financial ecosystem continue. Increase in revenues from new businesses

The Sella group closed the FY 2021 with positive and growing results compared to the previous year. The above came from the outstanding performance of all business sectors and the further expansion of its strategy based on consultancy and technology under an open platform model, fostering an innovative and sustainable ecosystem to provide efficient answers to the financial needs of families and businesses. Over the year, the Sella group boosted its commitment to sustainability by achieving "carbon neutrality", writing off the impact of its CO₂ emissions, and undergoing a standardized assessment to measure its ESG impact profile, launching a consequent plan for further improvement.

The consolidated financial results approved today by the Board of Directors of the parent company Banca Sella Holding recorded significant increase in the net profit and the net banking income. The above is also due to asset management and investment advisory services, as well as the increasing contribution of new businesses. The financial soundness of the Group remains confirmed.

Consolidated results of the Sella group at December 31 2021, show a net profit of € 108.3 million, against € 29.6 million of the previous year. The net profit, excluding extraordinary items related to activities consistent with the development and growth strategy of the Group, was worth € 56 million. The capital gain obtained from the peer joint venture in Hype, which led to the acquisition by Banca Sella Holding and Fabrick of a total stake of 10% in illimity Bank, influenced the results for the considered period.

The Net Banking Income incurred an outstanding growth worth € 78.5 million, equal to 12.1%, and reached € 727.8 million. The two main components, namely the net interest income and net revenues from services, respectively grew by 7.1%, to € 251.5 million and 12.8%, worth € 388.3 million.

Particularly high-end was the trend of Deposits, which recorded the best result ever. Total Deposits at market value rose by 14.4%, valued at € 49.2 billion; the total figure for Net deposits was € 4.7 billion. Loans to support the activities of families and businesses also grew: loans, including repurchase agreements, rose by 8.2%, worth € 9.8 billion, while the figure net of repurchase agreements grew by 11.1%, reaching € 9.7 billion.

The outstanding performance of the Group last year ensued the performance of all its activity sectors and the good quality balance of revenue sources. Specifically, against the same period of 2020, revenues from investment services, and specifically those relevant to the private banking activity, grew by 16.4%, to €183.3 million. Qualified deposits, represented by assets managed and assets under consultancy rose by 18.8%, worth € 21.9 billion mainly thanks to funds and insurance savings. The weight of qualified deposits on total global deposits is 44.6%: an increase compared to the end of last year. Investment banking and finance had a particularly outstanding year with a 39.5% increase in margins, and reached € 132.7 million.

Figures for the consolidated acquiring and issuing Payment Systems transacted volumes were remarkably positive. They grew by 33%, with margins reaching € 101.2 million meaning an overall growth by 21.4%. These volumes follow an increase in POS (+58%) and e-commerce purchase transactions (+24%). Revenues from new businesses grew by 19.8%, to € 61.8 million, weighting on total revenues by 8.6%, precisely due to Open-payment, platform services and technological solutions provided to third-party companies.

The total number of customers of the Group grew by 5.4%. Mobile banking services were particularly popular with customers, with an average rating of 4.7 out of 5 for the Sella app and 4.4 for the Sella Invest app on the main stores.

Investments in 2021 for the development of projects linked to the Strategic and growth plan of the Group grew to € 66.5 million, by 8.6%, net of the real estate component. The Sella team, composed of employees and partners, exceeded 5,400 people.

The accustomed high level of capital soundness, well above the required standards, found confirmation. The consolidated Cet1 of the Group and the Total Capital Ratio remained stable, mainly due to the effect of absorptions related to the significant growth in loans, respectively at 12.27% and 14.18% (they were 12.29% and 14.18% in the 2020). Liquidity indicators are also performing. The LCR index at the Group level was 198.9%, while the NSFR stood at 134.09% (the minimum limit is 100% for both indexes).

Today, Heidrick & Struggles, a premier provider of global leadership advisory and on-demand talent solutions, in partnership with the Global Blockchain Business Council, have launched a study titled, From Financial Services to Blockchain and Crypto: How Executives Are Making the Switch. 

The blockchain and crypto industry has taken the world by storm, especially in the last few years. It has now become so popular and in demand that financial services are having to put it on their agenda, whether they wish to or not. The sector is also attracting attention from executives in traditional financial services firms who are becoming increasingly comfortable joining this new and often volatile industry.

This study was undertaken to explore how executives are making the transition from traditional

financial services firms to blockchain and crypto companies - and what they need to know when they contemplate the move.

Some Key Findings

Nearly half of survey respondents (49%) joined the blockchain and crypto industry from roles in investment banking, having held high-level positions at their previous institutions, such as senior vice presidents (33%) or managing directors (28%). 

The study shows that a number of senior executives from traditional financial services companies are more open to joining blockchain and crypto companies as it becomes clearer that both cryptocurrencies and blockchain are driving forces for the future of financial services. 

Nearly a third of respondents said they left their previous role to start a company (31%). The fact that so many executives are willing to take a risk on a new venture underscores blockchain’s role in the broader financial industry. 

Another interesting finding is that 43% said their companies are in the start-up phase, and a further 23% are growth-stage organisations. Only 9% said they work for large, privately held enterprises, so for these executives to go from being at senior levels in their respective companies shows the future they see for the financial sector and that is in blockchain and crypto. 

When comparing total compensation for executives in blockchain overall with those in traditional banking, nearly half of executives said they would expect compensation to be the same or lower for executives in blockchain and crypto and are often willing to accept a lower base rate of compensation. They know they are taking a risk in entering the field, but they also know the potential rewards in terms of equity are significant because the volume of investment keeps growing. With one respondent even saying “Blockchain is constantly evolving and requires skills for adaptability, curiosity, genuine interest, and a strong conviction that we are doing the right thing.”

Considerations When Contemplating Joining a Blockchain / Crypto Company

Blockchain and crypto companies offer exceptional room for individual growth. Because the field is young and growing fast, functions and responsibilities are less clearly defined than in other industries and therefore less rigid. Blockchain and crypto companies are more willing to hire professionals with less experience in a particular role and are ready to promote them and expand their responsibilities on an accelerated timeline.

Flexibility means leaders can shape the way their companies operate. Flexibility is a key incentive for executives making the switch, and as hierarchies, processes, and roles are less defined, traditional factors such as time spent in the office have faded in terms of relevance as the COVID-19 pandemic progressed and working from home became a common occurrence.

The blockchain and crypto industry requires different leadership capabilities than traditional financial services. To keep up with the demands of a fast-moving field, successful candidates need grit, resilience, and the willingness to go all in. Executives looking to join the blockchain and crypto sector need to have a high risk tolerance and the ability to operate at a considerably more accelerated pace than more traditional sectors. Companies are also prioritising culture impact over role-specific experience. Blockchain and crypto companies are looking for professionals with enough industry experience to fill gaps required by their specific context, but needs change with the evolution of the company. 

Looking ahead, one thing is clear, the blockchain, crypto, and digital assets space will continue to evolve in unpredictable and dramatic ways. In just the past months, the crypto market cap has hovered around $2 trillion and is expected to continue growing in the long-term and with this growth, you need the right people at the forefront of your organisation to lead and guide it to success.  

GHD, the leading professional services company, has partnered with Silta Finance to help develop Silta’s collateral bridge between infrastructure developers and decentralised finance (DeFi) by experimenting with the technology solution and providing feedback and improvement suggestions. 

Silta’s vision is to be a collateral bridge between project companies and DeFi, enabling the provision of on-chain collateral for infrastructure projects. This way, borrowers can access the billions of dollars’ worth of liquidity locked in the DeFi market to fund sustainable infrastructure projects. 

With its 10k-strong workforce and 200 offices spread across five continents, GHD is working closely with its clients to drive forward the clean energy transition. As Silta’s partner, GHD will be focusing on reviewing the Silta borrower portal, the scoring algorithm, and the monitoring system for contractor performance and loan repayments.

Like the team of Silta, GHD recognises the need for innovation within lenders’ transaction advisory services. GHD’s Executive Director for UK, Europe and Middle East, Timothy Mawhood says: “The world of finance is changing rapidly and critical infrastructure programmes can’t afford to miss the boat. As we continue to recover from the pandemic, there’s no doubt that infrastructure will play a bigger role in our lives economically, as well as from a social and environmental perspective. That’s precisely why accessing decentralised finance could prove critical. The Silta platform has the potential to really pave the way on this and we’re extremely proud to be playing our role in making that happen.”

“GHD is one of the most prestigious infrastructure consulting firms in the world, so it’s quite an honour to have them support the Silta project. Having spoken with members of the board at GHD, it was clear that there is fantastic alignment with the vision of Silta. We are grateful to have access to such a wide pool of experience”, says Silta co-founder and CEO Ben Sheppard.

The Silta technology solution is currently under development. The project aims to begin accepting collateral loan applications in 2022.

Certero, an innovator in unified IT Hardware, Software, SaaS and Cloud Asset Management solutions and member of Oracle Partner Network (OPN), today announced that they have been verified as a third-party tool vendor for Oracle Fusion Middleware.

This means that the Certero for Oracle solution – part of the unified Certero platform that also covers cloud, SaaS and IT hardware everywhere in one single solution – is now one of a handful of formally verified third-party solutions to cover Oracle Fusion Middleware as well as Oracle Database and Oracle Database Options by Oracle Global Licensing and Advisory Services (GLAS).

Once a solution has been Oracle GLAS-verified, Oracle will accept data from these tools as an alternative to installing Oracle measurement tools.  However, the installation and usage of a tool from a verified vendor does not replace an Oracle License Audit or revoke Oracle’s contractual right to perform one. Usage data gathered from these tools still needs to be analyzed by Oracle to assess license needs and provide the customer with a compliance statement.

Hazel Hopes, Management Consultant and Oracle licensing expert explains how this can help Certero customers: “As an existing verified third-party tool vendor for Oracle Database, we are delighted to add another verification for Oracle Fusion Middleware.  This verification process will help provide customers with enhanced and sustained visibility over their Oracle Fusion Middleware solutions and provide them with the power to mitigate risks before they can become a problem”.

Hazel adds, “We use Certero for Oracle to deliver our SAM services for Oracle, so our Oracle licensing experts can make sure you’re informed, controlling your spend and not just at a single point-in-time – these solutions are now live, sustained views of exactly what’s going on. That means you have control over your own data, you have evidence of changes and an understanding of the licensing impact. It’s a great proposition for how IT operates and with today’s rate of change, nothing else is acceptable”.

For help with managing your costs, contact Certero today to discover Certero for Oracle and independent Certero’s SAM Services for Oracle.