The company aims to expand beyond real estate and agriculture and tokenize a $1tn worth of assets

Smartlands, a leading international asset tokenization platform,   

announced today that it is changing its name to Definder at the holding company level to better reflect the company’s move into ever more different spheres of business and new geographical areas.

The company has established leadership in the real estate and agriculture tokenization market,  becoming the first to tokenize a UK property on the Stellar network. It is now looking to 

capitalize on the growing demand in the projected $17tn alternative assets market and expand its offering to other business directions, such as physical goods including art and gold, SME company shares and other profitable assets.

Commenting on Smartlands’ rebrand, CEO, Ilia Obraztcov said: “After successfully pioneering real estate tokenization in the UK, we have seen huge demand for a more diverse set of offerings, along with overwhelming support from our customers actively signing up to be the first to get access to the new opportunities. The company, as well as its ambition, has outgrown its initial niche and will be adding more areas of interest to the portfolio as we are working towards our goal to tokenize a trillion dollars worth of assets.”

Smartlands by Definder will continue with its existing business of tokenizing real estate and agriculture as a new platform that will democratize access to real estate investing for individuals and offer a range of investment opportunities across Europe. Built on the Stellar network, it employs advanced blockchain technology with fast and secure transactions and smaller transaction fees. With over 1500 investors on the waitlist, 20 000 followers and an overwhelming pipeline of sound and profitable real estate projects, the platform is set for release in early 2022. Definder as a holding company will unite all the products and business directions of the company. 

“The rebranding and the launch of a renewed company website allows us to gain a stronger position among DeFi companies. It is important to retain our established values and heritage, but at the same time, the new brand will reflect the growth and offering of the company. Definder stands for the new way in investing and crowdfunding, it will defend the rights of the asset owners and all types of investors for transparent and easy capital management and will help to find the best investment option for anyone,” commented Nataliia Britten, company CMO.

APImetrics has partnered with leading financial technology intelligence source Finextra Research to provide the first open access dashboard monitoring the real-world performance of Open Banking, PSD2 payments, fintech and crypto APIs.

The dashboard is hosted on the Finextra website and provides a snapshot view of the real-world performance of the top 30 regulated Open Banking brands and 36 leading crypto exchanges operating in the UK. The purpose of the dashboard is to drive faster improvement cycles in API service levels by highlighting the need for better performance monitoring, to benefit banks, fintechs, developers and consumers.

“The Open Banking movement, by definition, cannot operate in the dark. Every developer and innovator has a shared interest in seeing how their APIs measure up in the real world to raise the collective bar of the entire ecosystem,” said David O’Neill, CEO of APImetrics. “We’re excited to be partnering with Finextra to, for the first time, provide open access to financial API performance data, highlighting the resilience and health of the live solutions relied upon by millions of consumers every day.

“APIs are driving the next wave of fintech innovation ushering in a new, more open and embedded financial ecosystem. Yet, this next generation of financial apps and customer experience hinge on the APIs they use being fast, reliable and trusted by developers and consumers alike”, added O’Neill.

All APIs on the monitoring dashboard are ranked according to quality – following APImetric’s proprietary credit rating-like scoring methodology – pass rate and speed. The best and worst performers in each category are also displayed for greater transparency and accountability.

“We aim to supply financial innovators with the knowledge and insights they need to inform their innovations while also creating a forum for industry conversations around these topics,” said Steve Ellis, CEO of Finextra. “It is in that spirit that we partnered with APImetrics to bring our community of 40,000 fintech professional members and 800,000 monthly readers the data they need to see how the APIs they are building or may be consuming stack up.”

Developers can easily add their APIs to track their performance and help grow the collections of APIs covered on the monitoring dashboard. For each entry, they can click through to see errors, developer docs and more detailed results. The data itself is generated by APImetrics core platform and full, historical performance data going back years is available for most collections.

Credit union is approving more loans to members and streamlining lending processes

Scienaptic AI, the world’s leading AI-powered credit decision platform provider, announced that Northern Hills Federal Credit Union has completed deployment and is now live on its platform. This deployment is enabling Northern Hills FCU to use AI to make sharper credit decisions and assist members with more credit.

Northern Hills FCU is a member-owned financial institution, serving members for 70 years. Northern Hills FCU has one simple philosophy – people helping people to improve the financial state of each of its members. Through Scienaptic’s AI-enabled credit underwriting platform, credit access for Northern Hills FCU members will be further enhanced. Using Northern Hills’ historical loan data, and incorporating other member data through alternative data sources, the AI platform is providing quicker, smarter decisions.

“We are very excited to be live on Scienaptic’s AI-powered credit decisioning platform,” said Floyd Rummel, Chief Executive Officer at Northern Hills Federal Credit Union. “In today’s digital world, members do not wish to fill out applications and wait a day or two to find out whether they've been approved or not. Going live with Scienaptic’s AI gives us the ability to provide instant and better credit decisions for every single member we serve. It is empowering our member-owners with more credit, enhancing their lives, and reinforcing our commitment towards the financial well-being of all members.”

Pankaj Jain, President of Scienaptic, said, “Northern Hills Federal Credit Union is a role model for AI adoption in credit unions. We are pleased to be a partner in their innovation journey to increase credit approvals for their members.”

Darwinex seeds and supports strategies seeking 3rd party capital. Investors access liquid strategies based on major Futures, US Equities and global ETFs on a one-stop-shop, regulated marketplace

FCA (UK) regulated FinTech Darwinex, has increased its competitive seed allocation programme. The programme - named DarwinIA Challenge - seeds the most investable providers on its marketplace for a notional of €120M. The allocation is up 35% from previously €90M.

The new format motivates strategy providers with innovative features, such as achievement awards and badges. DarwinIA's user-friendly and intuitive design better highlights changes to the leaderboard.

Challengers visually monitor their progress on the graphical user interface. Metrics and analytical tools point to areas of improvement. All draw inspiration from leading strategies by drilling down into their performance metrics.

"We now seed 150 strategy providers a month for a total of €120M per year. In addition to the seed backing, we give providers further exposure to our investors." Darwinex co-founder and CEO, Juan Colón, said.

Check out this video for an overview of all new features in the DarwinIA Seed Allocation Programme.

• The agreement opens the door to a vast and growing market with excellent potential.
• The agreement will cover commercial products, consumer and corporate cards, as well as mobile payment systems.

Spanish fintech Pecunpay, trademark of E-money institution Pecunia Cards EDE, specialized in innovative payment and E-money processing solutions, and UnionPay, the card scheme with the world’s largest cardholder base, have signed a strategic partnership that sees Pecunpay become the first Spanish issuer in Europe to issue UnionPay cards in Spain.

Under the agreement, Pecunpay has been granted a UnionPay International Membership License, allowing the company to issue UnionPay cards in Spain and across the SEPA zone.  The agreement covers commercial products, consumer and corporate cards, as well as mobile payment systems.

Pecunpay and UnionPay International will combine their technological, marketing and financial resources to support the launch of the UnionPay products initially in Spain and thereafter in other countries.

As the leading bankcard scheme in China, UnionPay has enabled the growing number of Chinese international travelers to perform transactions overseas safely and efficiently.

In Europe, UnionPay is now accepted by more than four million merchants in around 40 countries and regions, covering more than 70% of all the bankcard-accepting merchants in Europe. In Spain, UnionPay is accepted at all local ATMs and 92% of merchants that accept cards. UnionPay’s rapidly expanding acceptance network across Europe has paved the way for local card issuance in Spain.

“This is an important step for Pecunpay, as it opens the door to a vast and growing market with excellent potential,” said Antonio García Cruz, Pecunpay´s CEO.  “We will be able to offer our customers in Spain and in other key markets an innovative payment system with increasing acceptance all over the world.” 

“UnionPay International is accelerating the localization of our business in Europe by seeking opportunities to issue cards locally.  We are delighted to have agreed this partnership with Pecunpay and look forward to announcing similar card issuance with other European institutions in due course,” said Shengliang Yang, head of UnionPay International Europe Branch.

Through its partnership with UnionPay International, Pecunpay will gain competitive advantages and jointly push forward the business’ cooperation in Spain and across the SEPA zone.

• Covid contortions
• Price pressures
• China’s property woes
• Russia-Ukraine tensions
• Post-Brexit relations

Susannah Streeter senior investment and markets analyst, Hargreaves Lansdown:

Covid contortions

‘’The stock markets in 2022 are still likely to be sensitive to the spread of the Omicron variant, particularly for emerging economies, with many countries still unable to access the doses required to increase immunity against various strains of the virus. We don’t know how the latest covid contortions will change the overall global recovery picture. After an initial panic the financial markets are volatile but in wait and see mode. Early indications seem to show it may not cause more severe illness, particularly among jabbed citizens, but it has shown to be highly infectious, and many countries are now in another race against the virus, trying to roll out extensions to vaccine programmes to limit its spread. The weak GDP reading for October shows just how vulnerable the UK economy is to a fresh Covid shock, at a time when prices are continuing to climb.

Price pressures

Stock markets in Europe, particularly in the UK and the US, are likely to stay highly sensitive to inflation and the reaction of central banks in terms of the direction of monetary policy. Given the push and pull effect of the dual worries about the virus dragging on growth and about stimulus programmes being rolled back too quickly to combat rising prices, it may keep a lid on valuations, squeezing exuberance out of the markets. Even though corporate earnings have held up well, markets have become hooked on the drug of cheap money and a rolling back of the huge bond buying drives, will lower liquidity in the markets.

A warning shot that labour shortages may not ease soon has come from Jerome Powell the governor of the US Federal Reserve, the US central bank. He indicated that he thinks the recent rise in Covid-19 cases and the emergence of the Omicron variant poses increased uncertainty for how many people want to make themselves available for the labour force, particularly in face to face roles. That could intensify the fight for labour, pushing up wages and potentially lead to higher prices sticking around for longer. The snarled up supply chains all over the world which have also forced prices higher, don’t look set to ease significantly. The computer chip shortage is a big driver of delays and although new factories are being built to manufacture more, these will take years to construct so there is no quick fix to solve immediate issues.  Consumers seeing incomes squeezed may be tempted to be more conservative in their spending, and not dip quite so deeply into savings built up during the pandemic, which could hold back growth. However the accelerated shift to digital ways of working during the pandemic may have been a costly outlay but is likely to have a deflationary effect over the longer term as new technologies lower labour costs.

China’s property woes

The future of the highly indebted property company Evergrande will still be a big risk hanging over the financial markets in 2022, particularly in Asia. The group missed payments on its debts in early December, leading Fitch ratings agency to declare it is in default. Because of the mountain of liabilities the company has, totalling more than $300 billion, there are worries that a house of cards could have built up in the housing market. It’s feared that the collapse of Evergrande could not just set of waves of repercussions, and pull down a flotilla of smaller property companies, but also trigger more defaults spreading across the construction and potentially financial sectors. However, it is still likely that Beijing will attempt to stop contagion in its tracks and continue to try and orchestrate a staged dismantling of the group. But even if contagion is minimal in the financial sector, the situation is still likely to cause a further marked slowdown for China’s property and construction sector, which could dampen demand for commodities like iron ore and oil.

Russia-Ukraine tensions

As Russia manoeuvres more troops to the Ukraine border, concerns about the escalation of tensions are already causing fresh volatility in energy markets. The warning from the US, that if there is an order from Putin to invade Ukraine, Russian gas exports will be targeted, has pushed up the price of wholesale gas again.  But if conflict does break out, it is likely to cause a wave of unease across financial markets, with investors scurrying away from more risky assets and taking shelter in safe haven assets like government bonds, gold and defensive stocks like consumer goods, healthcare and utilities. The UK has also said it’s considering all options in how to respond if Moscow invades Ukraine, including economic sanctions.  If tensions are calmed we are still likely to see wholesale gas prices stay elevated, given the structural shortage in gas markets. Developing major new gas projects is an expensive and time-consuming process and there is likely to be high demand for gas as a vital transition fuel as we move toward a lower carbon energy mix.

Post-Brexit relations

For the UK market, the often tense negotiations with the EU regarding trade are likely to continue to weigh on investor sentiment. Although the UK has reportedly put forward significant concessions to calm tensions, such as not immediately requiring the withdrawal of the participation of the European Court of Justice in enforcing the Northern Ireland protocol, there is still much uncertainty over how this will play out and what effect this will have on trade. There has also been progress in terms of the dispute over post Brexit fishing rights, but the number of new licences being handed out has not satisfied many French fishermen, with a planned blockade of Calais still in their sights.  The struggle to regain ground for many companies is likely to continue, given the added red tape wound around exports. The latest snapshot from the ONS indicates how much of a back foot UK companies are still on, with British goods exports 5.1% below their level in late 2018, with exports to the EU still 8% below the level they were three years ago.”

Deep data management expertise combined with a proven business development background

Joins executive management team

Spearheading Reformis' 2022 ambitious global growth plans

Reformis, the multi-award-winning, global financial services consulting firm, appoints Phin Smith to drive business development and marketing for its Advisory practice and support these activities across its other business and technology groups. Phin joins the executive management team and brings a wealth of data management consulting experience across both buy-side and sell-side firms in Europe and North America, including HSBC Security Services, Bank of Canada, and UBS Asset Management. He has also held senior positions at vendor firms such as; Goldensource and IHS Markit, including Global Head of Presales and most recently as Head of Data Management for New Verticals. 

Reformis is renowned for providing expert consultancy services to asset and wealth management firms, specialising in; data management, front office implementation and reporting solutions. As a result of growing client demand, they are expanding their management advisory capabilities to support their clients' strategic change and transformation goals. 

Phin Smith, Business Development and Principal Consultant at Reformis, commented. "This is my second time around at Reformis, having previously spent three years here as a senior consultant. I know this sector and many of our clients extremely well and have always maintained a close working relationship with Brian and the team. There are masses of growth opportunities, and I am looking forward to helping to take the business to the next level."

Brian Woodham, CEO at Reformis, concluded, "Data is at the heart of everything we do, so having access to Phin's deep domain knowledge and practical experience is a significant asset, particularly

for our fast-growing Advisory practice. Our goal is to be the consulting partner of choice for the global financial services industry, helping even more clients to tackle increasingly complex regulatory challenges, realise their optimisation goals, and seamlessly adopt modern technologies. With a healthy pipeline underpinned by an expert team, the outlook for 2022 is very positive. Watch this space; there is more to come."

Beadle will oversee the launch of new business savings and lending products

Paul Beadle has been appointed as Head of Communications for Recognise Bank, one of the UK’s newest fintech challenger banks, which launched just over a year ago to serve the country’s small business sector, as well as offering personal and business savings products.

With over 25 years’ experience in financial services, Beadle was previously Head of External Affairs for Consumer and Social Media at Nationwide Building Society and was most recently an Associate Director at financial PR agency MRM, where he managed clients including Barclays Wealth and Investments, Shawbrook Bank and fintech investment platform, eToro.

Beadle began working with Recognise Bank at the start of the year, managing its media relations and social media as it progressed through a successful funding round, the lifting of deposit restrictions by the regulator and the launch of its first range of personal saving accounts.

He now takes on the PR and media relations role fulltime and will also oversee internal communications and social media, as well as issues management. As the bank enters its second full year of trading, Beadle will be responsible for developing the communications strategy to support the launch of business savings accounts and other new business lending products in the pipeline.

Beadle said: “It’s an exciting time to be launching a new bank, especially one that has set out to support the UK’s SMEs, which is an economically important and vibrant sector itself. I bring a wealth of experience of working in the highly regulated banking environment, as well as the fast-paced entrepreneurial approach of the fintech sector, a perfect mix to raise the profile and brand awareness of Recognise.”

Beadle will report to Deputy CEO Bryce Glover. Glover said: “I’m really pleased to have Paul fully onboard because he brings experience and passion to the communications role. As a new entrant into the sector, we have ambitious plans to change the face of business banking, so Paul’s understanding of traditional media and digital channels will be vital to help us stand out and reach small businesses.”

Recognise Bank was created to provide SMEs with digitally enabled, relationship-led banking across a range of lending options including Commercial Mortgages, Professional Buy-To-Let Loans, Bridging Loans, Working Capital Loans and Professional Practice Loans. While many of the big banks have cut back on their local support, Recognise has invested in a team of relationship Managers in regional hubs based in London, Birmingham, Manchester and Leeds.

Following the launch of personal savings accounts this year, the bank plans to launch business savings accounts at the start of 2022.

Simply Payments, the Scotland-based payments specialist has today announced their partnership with Gala Technology, to support the growth on their business by expanding their range into Card Not Present Payment channels.

The Independent Sales Organisation, officially licensed by Mastercard and Visa International as a Member Service Provider, selected Gala Technology based on their suite of impressive Card Not Present solutions, including an acquirer agnostic e-commerce payment gateway, virtual terminal, merchant management system and of course, their flagship pay-by-link technology, SOTpay.

SOTpay enables cardholders to complete secure remote transactions, while remaining in control of their sensitive card information on their personal device. Transactions are fully authenticated and PCI-DSS compliant, negating the risk of fraud-related chargebacks and associated costs for the merchant.

In addition, Gala Technology will also support Simply Payments and their merchants with a host of recurring and subscription options via either card payments or Direct Debit through Bacs and SEPA, and future proof their product offering with award-winning Open Banking/Account2Account solutions too.

Louis King, Founder and Operations Director at Simply Payments commented, ‘As an organisation we always try to align ourselves with the best in class, whether that be our acquiring partners or solution providers. Gala Technology, very much fit that bill, offering innovative technologies at competitive prices. I feel this relationship will be very beneficial to our merchants and instrumental to our continued growth.’

Steven Jones, Commercial Director at Gala Technology concurred, ‘We are delighted to be working with Louis at the team at Simply Payments, providing a whole host of payment options to their merchants. Working collectively will give merchants of all shapes and sizes, access to great processing rates and solutions, enabling them to concentrate on growing their business, whilst Gala and Simply Payments facilitate secure and compliant payments.’

Gala Technology are the innovative development team behind the multi-award winning, secure and PCI DSS compliant, payment solution, SOTpay. This cloud-based solution enables merchants of all shapes and sizes, process secure digital payments across numerous channels, including telephony, email, SMS, web chat and Social Media platforms.