Speakers, Customers, and New Product Enhancements Demonstrate Importance of the Data-Driven Society

TIBCO has announced an impressive roster of speakers and customers to take the virtual centre stage at TIBCO NOW 2021, September 27-30, 2021. This year’s digital experience will include a free, two-day, core event; a jam packed agenda of keynote speakers; three premium one-day tracks; and a host of certification opportunities.  

TIBCO customers continue to demonstrate the limitless power of insights when embracing data as the fuel for innovation. This year's theme, “Limitless,” showcases how advancements in data continue to accelerate, with original  content targeted to business executives, data analysts, data scientists, business intelligence experts, and anyone in an organisation affected by or using data. 

"Every modern organisation now runs on data, and our ability to deliver deep insights from real-time data is truly limitless,” said Dan Streetman, chief executive officer, TIBCO. “At TIBCO NOW, we are excited to share how leading organisations around the globe are connecting, structuring, and using data to fuel innovation and make faster, smarter decisions."

TIBCO NOW will host industry thought leaders from around the world, representing a range of industries, including:

• Dr. Jennifer Doudna, a biochemist at the University of California, Berkeley, and Nobel Prize-Winning co-inventor of CRISPR Technology, who will speak about the role of data in medical science and how her CRISPR-Cas9 genome technology forever changed human and agricultural research;

• Michael Lewis, a financial journalist, New York Times best-selling author, and leading social commentator, who will offer perspectives on the ever-changing value systems that drive economic markets, political landscapes, and cultural norms; 

• Dr. Jill Seubert, an interplanetary navigator and leading expert on astrodynamics, estimation theory, and deep space navigation, who will walk attendees through technology advancements that support the next generation of deep space exploration;

• Associate Professor Ngiam Kee Yuan, group chief technology officer at National University Health System, who will share insights around artificial intelligence research and its implications for the future of healthcare.

The event will host 20 customer speaking sessions from respected companies such as New Balance, GM Financial, Autostrade per l'Italia, and Change Healthcare.

In addition, TIBCO executives will spearhead discussions on data’s role at the centre of the digital debate – how it’s driving customer experiences and reshaping the face of all industries. Speakers include Dan Streetman, chief executive officer; Rani Johnson, chief information officer; Matt Quinn, chief operating officer; Nelson Petracek, chief technology officer; and Fred Studer, chief marketing officer.

TIBCO NOW offers a free, two-day, core virtual event, with three product-focused premium tracks:  Connect, Unify, and Predict. These tracks speak to the importance of integration and API management, events and messaging, master data management, visual analytics, and the future of the data-driven enterprise. 

smartKYC, the world’s most advanced enterprise solution for KYC due diligence automation, has today announced the addition of the Hindi language and script to smartKYC’s multilingual Natural Language Processing technology. smartKYC’s technology now processes and analyses over 35 different languages in multiple writing systems including Latin, Chinese, Arabic and Devanagari. 

Financial institutions facing unique KYC demands will often need to conduct enhanced background checks on clients, particularly those with associations with certain jurisdictions or sectors. This presents significant challenges due to names and various permutations that need to be searched with linguistic and cultural sensitivity. Multiple sources in multiple languages need to be searched to ensure no-risk relevant intelligence is missed. 

The increased language coverage will allow clients of smartKYC to merge results within a language and across languages which will lead to streamlined results. Natural Multi-Language Processing technology identifies all textual elements in a piece of text regardless of source language or script. smartKYC reviews the findings in native language first to avoid any loss of meaning pre-translation and then produces an English version for review ensuring nothing is ‘lost in translation’. 

“Banks with an international element to their client base, whether it is by way of a client’s birth, domicile or footprint, monitoring the English language content alone will expose the bank to the risk of missing important information. Extracting intelligence with precision from foreing language sources is essential,” commented Hugo Chamberlain, COO, smartKYC. 

The additional language coverage is particularly pertinent for financial organizations dealing with ultra-high net worth clients as recent research from Knight Frank suggests that India will see a 63% increase in this group by 2025. This will outpace the global average of 24% and the Asia average of 38%. Currently, India publishes over 1,000 Hindi dailies with circulations of around 80 million, compared to 250 English dailies with circulations of 40 million. Any firm working with Indian partners, clients or subsidiaries must monitor Hindi media or risk missing important risk relevant intelligence. 

smartKYC’s technology enables its clients to drive faster, better, and more cost-effective KYC at every stage of the relationship - liberating human effort to focus on decision-making rather than laborious research. smartKYC fuses artificial intelligence with linguistic and cultural sensitivity and deep domain knowledge to set new standards for KYC quality, whilst transforming productivity and hardwiring compliance performance.

Auriga, a global provider of technology solutions for the omnichannel banking and payments industries, today announced that it has won the first place in the Best ATM/Self-Service Experience category at this year’s Bank Customer Experience (BCX) Summit Awards.

The BCX Summit awards are run by Networld Media Group and ATM Marketplace and recognise the most unique, innovative, and pioneering financial institutions and technology providers whose branches and technologies are having the most impact on consumers.

Winners were officially announced during the Bank Customer Experience Summit, which took place in Chicago from Sept. 13 to 15.

Auriga won the award for its #NextGenBranch solution which enables a state-of-the-art, digital, remote, and customer-oriented branch. This leverages advanced assisted self-service and new technologies such as video banking, AI and automation to deliver 24/7 access to banking services and increase the efficiency of processes.

#NextGenBranch modules Bank4Me and WWS Fill4Me allow customers to access all the branch services in self-service assisted mode around the clock and interact with the bank's consultants via video banking for more complex transactions in a safe and personalised way.

This technology allows customer-facing employees to be able to focus on more complex activities that require the added value of human interaction. It also reduces branch management costs, while maintaining access to financial services and generate new revenue streams by customising modern ATMs with add-on services.

Commenting on the award, Vincenzo Fiore, founder and CEO, Auriga said: “We are delighted to have won this accolade for our cutting edge solution for today’s branch banking. #NextGenBranch is a real game changer for retail banks in how it creates a single source of truth on each bank customer and tracks the complete customer journey. When full adopted banks see a significant reduction in operating costs and an equally big increase in customer satisfaction from improved services”

Find out more at this link: https://www.atmmarketplace.com/articles/winners-announced-for-bank-customer-experience-awards/

The regulatory environment around funds has drastically increased in recent years and this  trend is expected to continue. As a leading provider of the fund industry in Luxembourg, EFA  is committed to providing its clients with the best service and the most up-to-date tools to  respond to their existing and future regulatory requirements.  

To this end, the EFA wanted to adopt a dedicated platform to industrialise the operations of  its teams of experts. 

At the end of a selection phase, EFA chose NeoXam’s Impress Regulatory Edition for its  qualities of data integration and rationalization, its robust and complete calculation engine  and its advanced visualization interface, allowing EFA to meet all of its expectations.  

This decision reinforces and expands the long-standing relationship between EFA and  NeoXam initiated with the adoption of the back-office investment accounting tool NeoXam  GP. 

Gary Janaway, COO at EFA, said: “The ability to provide our clients with a full range of  regulatory reports with increasing demand for digital output led EFA to extent our partnership  with NeoXam. Primary factors that influenced our selection were the ability to manage the  integrity and quality of data from internal production systems and to import data from  external sources. Impress Regulatory addition facilitates our clients’ need for high quality  branded regulatory reports and provides EFA with a high capacity production capability.” 

Florent Fabre, COO of NeoXam, added: “The future of reporting is undoubtedly industrial  and digital. We develop high-performance and innovative solutions that meet the demanding  expectations of the market to support our customers. We’ve worked closely with EFA for  over a decade now and look forward to continuing to support them in their growth.”

Open Banking Expo, the largest global community of Open Banking and Open Finance executives driving the biggest digital transformation in the financial services sector, will this November bring back together European innovators, disruptors and visionaries.

On 4 November 2021, leaders and experts from across the breadth of financial services, including the UK’s largest banks, fintechs, credit card and payments providers, business lenders and regulators, will gather to share lessons learnt from the initial implementation journey and insights into the future of the industry, as well as what is required for continued adoption of Open Banking and Open Finance across the globe.

With Token as its headline partner, this year’s event, the first in-person gathering in over 18 months, comes at a time when the industry is anticipating change in Open Banking governance in the UK and follows the mandate from the Competition & Markets Authority (CMA) on variable recurring payments (VRP).

Todd Clyde, CEO of Token, said: “We’re delighted to support the Open Banking Expo UK as its headline sponsor. Since last year’s Confex, Open Banking has seen tremendous growth and is fundamentally changing the payments landscape. As Open Banking payments reach a tipping point, we are excited to reconvene together with industry innovators and visionaries to carry forward the mission that Token shares with Open Banking Expo: to drive the shift to an Open Banking-powered world.”

Adam Cox, co-founder of Open Banking Expo, said: “This year’s Confex comes at a time when we all anticipate change in the governance of Open Banking in the UK. It is therefore the perfect opportunity to bring together the Open Banking and Open Finance community in Europe to explore how far we have come on the implementation journey and what the next chapter will look like. Furthermore, the world of Open Banking payments has exploded in recent months and we’re delighted to welcome first adopters to share their insight as the market predicts continued growth.”

Headlining more than 80 speakers sharing topical and fresh content across five stages, the Confex is the perfect opportunity to reunite with industry friends and colleagues and to build new relationships. Speakers include:

High-street banks

• Daniel Globerson, Head of Open Banking, NatWest Group
• Harcus Copper, Global Channel Lead, Barclays
• Hetal Popat, Open Banking Director, HSBC
• Duncan Lathwell, Director, Cash & Trade Sales, Midlands & East, NatWest Group
• Jason Wilkinson-Brown, Head of Digital Propositions, Partnerships & Open Banking, TSB
• Marion King, Director of Payments, NatWest Group
• Phil Gossett, Head of Innovation, Nationwide

Investment bank

• Winston Pearson, UK Open Banking Lead, Goldman Sachs

Challenger & international banks / alternative & business lenders / SME finance

• Hayley Viner, Products Lead, UK payments, ClearBank
• Helen Bierton, Chief Banking Officer, Starling Bank
• Natalie Ledward, Head of Vulnerable Customers, Monzo
• Vicki Bracey, Open Banking Product Director, Mettle
• Nick Fahy, Chief Executive Officer, Cynergy Bank
• Noam Zeigerson, Chief Data & Technology Officer, Tandem Bank
• Richard Davies, Chief Executive Officer, Allica Bank
• Rob Hale, Chief Digital Officer, Regional Australia Bank
• Ylva Oertengren, Chief Operating Officer & Co-founder, Simply
• Simon Cureton, Chief Executive Officer, Funding Options

Credit cards & payments

• Charlotte Duerden, UK Managing Director, American Express
• Nilixa Devlukia, Regulatory Expert, Payments Solved
• Sendi Young, Managing Director, Ripple
• Todd Clyde, Chief Executive Officer, Token
• Chris Higham, Head of Cards & Payments, Secure Trust Bank

Fintech

• Sam Seaton, Chief Executive Officer, Moneyhub
• Will Billingsley, Co-founder, ApTap
• Dr Leda Gyptis, Chief Client Officer, 10x Future Technologies
• Dr Ruth Wandhöfer, Global Fintech 50 Influencer
• Rune Mai, Chief Executive Officer & Co-founder, Aiia

Policy, regulation and industry bodies

• Dr Bill Roberts, Head of Open Banking, Competition & Markets Authority
• Simon Lyons, Head of Ecosystem Engagement, Open Banking Implementation Entity
• Chris Hemsley, Managing Director, Payment Systems Regulator
• Becky Clements, Director of Payments, UK Finance
• James Shafe, Head of Consumer & Retail Policy Department, Financial Conduct Authority
• Liz Barclay, Small Businesses Commissioner
• Janine Hirt, Chief Executive Officer, Innovate Finance
• Phillip Mind, Principal, Financial Services, UK Finance

There are 500 tickets available to senior leaders and executives and the agenda is now live. Open Banking Expo was crowned ‘Best Conference Series’ at the 2020 Conference Awards for its conferences in the UK, Europe and Canada.

Binance is pleased to announce that Binance Labs, the venture capital and incubator of Binance, and Multicoin Capital co-led the $6M funding round for LayerZero, an omnichain interoperability protocol that unites decentralized applications across disparate blockchains.

Sino Global Capital, Defiance, Delphi Digital, Robot Ventures, Spartan, Hypersphere Ventures, Protocol Ventures, Gen Block Capital, Echelon Capital also participated in this round.

LayerZero is a new interoperability protocol that connects disparate blockchains. Interoperability hinges on passing messages between chains; current solutions achieve this with a middle-chain (hub-and-spoke model) such as Polkadot or running pairwise on-chain light nodes such as Cosmos IBC.

The former solution centralizes security around a single hub, allowing for cheap transactions at the cost of a single point of failure. The latter achieves high security with on-chain validation but is both capital and resource-intensive. LayerZero brings the best of both worlds together with a novel on-chain "Ultra Light Node," which achieves the security of a light node with the cost-effectiveness of middle chains.

“DeFi applications have spread out and deployed across multiple chains due to high fees and evolving investors preferences. This has led to severe fragmentation across the market. You can currently trade on Sushi using Ethereum, Moonbeam, Fantom, xDAI, and Binance Smart Chain, and more chains are coming. While all of these applications are Sushi, but none alone is Sushi. LayerZero solves this problem by uniting liquidity across chains and making it possible to transact in, out, and across disparate networks with ease,” said Bryan Pellegrino, co-founder, LayerZero.

LayerZero plans to support Ethereum, Binance Smart Chain, Polygon, Avalanche, Fantom, Arbitrum and Optimism at launch. It will add support for more EVM chains and non-EVM chains, such as Solana, Polkadot, and Algorand, in the months following launch.

“Binance Labs invests in disruptive innovations that have incredible potential to shape the crypto landscape. We view the future crypto space as a multi-chain universe, with a strong demand for lightweight and secure interoperability solutions. That is the future we see in LayerZero and why we fully support the team,” said Chase Guo, Investment Director at Binance Labs.

LayerZero achieves speed, security, and cost-efficiency by performing the same validation as an on-chain light node but instead of keeping all block headers sequentially, block headers are streamed on-demand by decentralized oracles. This is a fundamentally new interoperability model that improves security by coordinating validation between nodes and oracles. LayerZero currently leverages Chainlink and Band Protocol for oracles but was designed to be oracle agnostic.

LayerZero paves the way for the first omnichain applications, opening the door for lending, AMMs, governance and much more to become truly chain agnostic,” said Kyle Samani, Managing Partner, Multicoin Capital. “Dapp developers no longer have to write chain-specific code; instead, they can just use LayerZero to develop one interface that sends messages to all chains. Anything that wants to share or consolidate state across multiple chains—which is practically every application today—should be using LayerZero.”

LayerZero will use the new funds to further the development of LayerZero endpoints across the ecosystem and drive the adoption of the protocol. The project is currently under audit and is expected to launch in early Q4 2021

If it feels like somewhere in the middle of your payments department, there is a hidden black hole, invisible yet very real, and your budget seems to disappear there month after month, consider it a sign. A sign that it is time for you to switch your payment provider and instead opt for a white-label payments orchestration platform like the Netherlands-based Akurateco.

In fact, a lot of companies start with it right away. The thing is that this solution allows you to save money on the development, get immediate access to the cumulative experience and expertise of the provider’s payments team, and lay your hands on a multitude of payment connectors with a single integration.

In this guide, we’ll help you identify cues showing that it’s time for you to make that change and walk you through the change process step by step.

When should you start looking for a white-label solution?

1. It got too expensive.
   Disclaimer: At no point in your payment processing storyline will the service be cheap.  In fact, if you decide to build the product on your own, you’ll have to pay between 105.000 and 420.000 USD for it. This includes a team of seasoned developers working on your payment gateway’s development for about 6 to 24 months depending on the functionality. We talked about it in detail in our recent research.
   However, if you notice that over time the overall budget for maintaining both your gateway and your team goes through the roof, it’s a red flag meaning it’s time for you to look into your payment provider choice and maybe even consider a WL solution.
2. The tech team no longer meets your expectations.
   As your business grows, so do your sales volumes. And a team that was managing your transaction flow at the beginning of your path seems to be dropping a ball with the growing payment intensity.
   That’s when a white-label payment platform comes in handy. Besides offering a variety of connectors and an omnichannel payment experience, WL solution also serves as an outstaffed technical team for your company. As a result, you get access to an expert team of payment experts acting as a technical team for your company. They help you take care of integration and maintenance as well as keep you in the loop on the latest upgrades of the system.
3. You need a system upgrade.
   You can’t afford outdated technology. To keep up with the current trends and meet your audience’s expectations, you have to go above and beyond providing the latest tech stack for your clients.
   It’s not a secret that your TA is now more demanding than ever. One-click payments and a smooth checkout experience are no longer an option but rather a must-have for any payment provider. And if you don’t offer them, your customers will easily leave to find a provider with all these benefits.
   Choosing a payments orchestration platform like the one offered by Akurateco is a wise move for those who want to get immediate access to state-of-the-art solutions without robbing the bank.
4. Tech team turnover.
   Finding good payment candidates for your company is no walk in the park. It is demanding if not entirely impossible. And if one of your payment team members has recently left, and you can’t find a decent substitution right away, consider going for a white-label payment gateway solution.
   This move will save you both time and money since WL provider’s teams are always fully staffed and ready to go. No training or time for onboarding. No grooming of any sort. With them, you resume work from day one.

Finally, it’s time for us to explain the steps you are to take when switching your payment provider.

Forget-me-nots of switching to a new payments orchestration platform

1. Importing anti-fraud modules settings.
   As you move to a new platform, consider transferring your anti-fraud module settings, too. Since it’s not a trivial task, you need to request your new payment software provider to help you with the move. Thus, for instance, Akurateco help their clients move existing whitelists and blacklists as well as offer Akurateco’s own pre-defined ones. On top of that, they have a session with a client where they sit down to discuss his/her previous experience, anti-fraud use cases and offer a way to set up a similar set of rules as well as consultation on their correct usage, advice on how to adjust them to newly emerged needs.
2. Importing historical data.
   Switching to a different provider inevitably means transferring all your historical data collected over the years of payment processing to a new platform. Therefore, be ready to move all your payment data stats, subscriptions, chargebacks, and refunds, etc. Depending on how many years you’ve been in the industry, the volumes of this transfer might differ. However, first and foremost, make sure to get clear instructions on how to transfer this data to a new platform and what the protocol is.
3. Integrate necessary payment methods.
   Make sure that the system you’re switching to offers all the necessary payment methods both your existing and potential customers expect. If the method you need isn’t on the list of those immediately available, it’s only smart to request its development and integration in advance because this process takes between two to four weeks depending on the provider you’re working with.
4. Ensure a smooth transfer experience for all your merchants.
   Look for a white-label provider ready to personally participate in consulting your merchants during their move to a new platform. Ideally, this provider will not only answer their questions regarding technical setup on early stages of the move but also act as their tech department, solving the issues as they rise and nipping the errors in the bud. Actively involve the vendor in the communication and keep them updated along the way to ensure the best migration experience for all your clients.
5. Prepare for the MID migration.
   At last, prepare for the MID migration. When we say MID, we mean a single point of sale for every merchant. Take your time both to migrate the data and test it. It’s vital to run tests early on to spot mistakes and solve them before they backfire with lost sales and claims from unsatisfied customers.

All in all, these are the steps to take and signs to look out for when making a final decision to give your business to a white-label payment gateway provider.

A final word of advice here: look for a vendor that has already helped its clients with a system migration. Their experience will save you long hours of troubleshooting and error fixing as you dive into the move. Thus, for instance, Akurateco has recently helped several of its new clients transfer to their platform. For it, the company has held training and special sessions where they discussed customers’ needs and expectations, suggested the most effective ways to transfer data securely and acted as an outsource technical department ready to solve any tech issues coming their way.

If you still have any questions, fire them away: our team at Akurateco would be more than happy to answer them all. Or even better, consider booking our free Demo to check out what a white-label system is all about and how it can meet your specific business needs.

Increased signs of financial pressure as government support reduces and spending opportunities increase, even though percentage of payments to balance maintains upward trend

Highlights

• The percentage of accounts missing payments in July increased 3 percent year on year
• Cash usage on cards – often a sign of financial stress - continues to slowly increase, up 4.2 percent
• Card spend falls £3 compared to June 2021 but is second month that is higher than pre-pandemic levels
• Percentage of payments to balance continues to grow – 5.7 percent – reaching over a two-year high

Global analytics software provider FICO today released its analysis of UK card trends for July 2021, which reveals that there was an uplift in missed payment rates, whilst spend on cards marginally fell. There was also growth in cash usage.    

It was the first full month of all retail and hospitality sectors being open; the school summer holidays started and the government furlough contribution reduced from 80 percent to 70 percent. All of these factors are likely to have contributed to consumer spending and repayment behaviours.

Missed payment rates see month of growth

The percentage of accounts missing payments in July increased by 3.2 percent. Their associated balance as a percentage of total balance also increased by 3 percent, perhaps a reflection of the reduction in furlough support and business loans repayment starting. Unsustainable post-lockdown spend could also be contributing.

The increase in the percentage of accounts and their balance missing one payment in May has resulted in an uplift in accounts missing three consecutive payments in July — up 19 percent. July also saw:

• A 7 percent increase in the percentage of card holders missing one payment
• Increase in average balances on accounts missing one or two payments also increased in July.
• Balances for card holders missing two payments are £215 or 9.5 percent higher than July 2019.

However, there is also a trend amongst those consumers who are able to make payments, to increase the percentage of payment to total balance. In July it increased 5.7 percent compared to the previous month, to yet another over two-year high and it is 22 percent above pre-pandemic levels in July 2019. This suggests that the extra lockdown savings continue to influence payment trends, along with the final three months of furlough support and lower average card balances.

The percentage of accounts paying the full balance remains stable, at an over two-year high, and is 16 percent above July 2019’s result. Consumers shifted from paying the minimum amount in July to less than and more than the minimum; the majority moving to the former, which is reflected in the higher missed payment rates. And the percentage of consumers being charged interest increased in July, a common link with rising missed payment accounts, although it is 14 percent below pre-pandemic levels and the average amount charged is 22 percent lower.

The coming months will show if there is a trend emerging and more consumers who were able to maintain minimum payments are facing further financial struggles. Lenders will need to continue to monitor these payment trend changes, focussing on reducing payment percentages to balance, especially if balances are being maintained or, more worryingly, increasing.

Cash usage continues to slowly grow

The percentage of consumers using cash on their credit cards also continues to grow – in July by 4.2 per cent. Consumers moving to using cash, with little or no previous cash usage, could be showing signs of financial issues. But it is still well below pre-pandemic levels and with the contactless limit increasing mid-October from £45 to £100, cash usage may not return to the higher levels seen pre-COVID19.

Looking Ahead

Lenders will need to be vigilant and analyse their data and results rapidly, in the changing economic conditions during the remainder of 2021 and into 2022. The full scale of the debt issues should become clear over this period too, so focus will be on the impact on collections as well as preparation for strategic approaches post COVID as issuers decide what their ‘new normal’ is.

These card performance figures are part of the data shared with subscribers of the FICO® Benchmark Reporting Service. The data sample comes from client reports generated by the FICO® TRIAD® Customer Manager solution in use by some 80 percent of UK card issuers. Issuers wishing to subscribe to this service can contact staceywest@fico.com.

Compass Plus’ innovative universal mobile payments service, MobiCash, has been shortlisted for Best Mobile Payments Solution at the Payments Awards. The award recognises the most innovative mobile payments solutions across the globe and their contribution to the payments industry.

MobiCash is an integral component of Compass Plus’ wider digital solution offering, which come together to form a seamless mobile-first digital payments ecosystem. As a mobile payments service, MobiCash is designed to make payments easy without compromising security. It is simple to use and offers a cheaper and more inclusive way of accepting payments at a wide range of businesses, including charities, service providers (utilities, councils), sports clubs, schools and nurseries, local tradesmen, subscription services and many more.

Scott Lane, Business Development Director, Mobile Payments at Compass Plus said: “For MobiCash to be shortlisted for such an award is testament to the versatility of the service. It’s more than just an app, it is a mobile payments service that offers a host of exciting value-adds, including biometric payments, an in-built marketplace, loyalty and in-app marketing. It can also be used in many other ways such as for charities to accept donations so it really goes above and beyond your average payments app.” 

The Payments Awards have been running for the past nine years and aim to celebrate excellence and innovation in the payments industry worldwide. The winners will be revealed at a ceremony on 11 November at the Marriott Hotel in Grosvenor Square, London. More information about the award categories and the final shortlist can be found here.

Unbanked, a global fintech provider that connects traditional enterprise and banking systems with blockchain, today announced that it has been certified as a Visa Ready partner for Program Management within the Visa Fast Track Program. Unbanked was approved in 2020 as a Fast Track Enablement Partner, and with this VISA Ready certification, will expand its capabilities to its suite of partners.

Unbanked currently provides infrastructure for many popular cryptocurrency-powered cards available today, making it faster and easier for fintechs to leverage Visa's global payments network and introduce new crypto-friendly payment experiences. Partners of Unbanked are given a seamless way for their customers to interact with cryptocurrencies, using linked debit cards and bank accounts which can act as an easy gateway from dollars to cryptocurrencies.

Unbanked offers a full suite of crypto-enabled solutions that solve common issues in the digital payments ecosystem, including debit cards and FDIC-insured bank accounts that are available in over 200 countries. Not only does Unbanked equip customers with a more convenient, flexible way to buy, send and spend their cryptocurrency, the company's debit card program also features one of the highest rewards rates in the industry, offering users up to 6.38% back on purchases.

"We could not be more excited that Visa has certified us as a Program Manager in its Fast Track Program," said Unbanked Co-Founder, Ian Kane. "We pride ourselves on offering a full-suite issuance, compliance, and ongoing management service for Visa cards linked to digital assets.