Antelop, the Paris-based start-up which offers digital payment solutions to improve customer banking experiences by helping banks tackle the challenges of the digital-first world head on, will be part of the French Tech delegation at Money 20/20 Europe on stand D60 from 21^st to 23^rd of September.

A unified solution for all digital card features

Antelop has reinvented digital cards and mobile issuance with a unified solution for banks and card issuing processors. Thanks to Antelop’s unique offer, it is now possible to use just one single software development kit (SDK) to add all the latest digital card features to a mobile banking app.

The complexity banks face with the multiple tokenization systems associated with digitalization of payment cards is no longer an issue thanks to Antelop’s unified solution. The importance of mobile banking apps for client experience is ever more crucial – to keep end users satisfied, banks must offer a directly integrated unified service via their mobile apps.

The Antelop One Digital Card

With little to no back-end development, the Antelop One Digital Card SDK lets banks replace complex integrations with one single unified and simplified digital card integration with a full range of features. This mobile-only integration works with Android & iOS with easy maintenance, protection, and security. 

As a one size fits all solution, banks and card issuers can access the solution as an SDK, as a white label application or as white-label components. The only prerequisite for deploying the Antelop One Digital Card is compatibility with tokenization – and if it’s not already the case, then Antelop also has a solution for that via their iTSP hub for Visa VTS, Mastercard MDES & more.

An international hit

Serving more than 40 banks in 25 countries, Antelop is certified by EMVCO, Visa VTS, Mastercard MDES, Cartes Bancaires CB & PCI DSS.

In France and worldwide, Sodexo has partnered with Antelop for Sodexo Pay. Thanks to Antelop’s technology, Sodexo Pay is a Digital Card platform multi-processor, multi-scheme, and certified Mastercard MDES, Visa VTS, CB, PCI DSS which also works with Apple Pay.

“The Antelop platform is a real asset for Sodexo. It allows us to manage all card digitization processes (via iTSP) for the many countries we operate in, with different card systems and models (private label, Visa, Mastercard). It also gives us the opportunity to transform our application into a contactless payment application and Digital Card management app via the Antelop SDK”, emphasizes Gabriel Rotella, Global CIO BRS.

Elsewhere, Antelop has partnered with Oslo’s Opera to provide an Issuer TSP Hub to offer users a seamless digital-first experience.

Antelop is also working on several projects with Quipu, an IT solutions provider for banks and financial institutions, with operations across Europe and LATAM, including the implementation of NFC mobile payments using Antelop’s SDK. The Antelop Digital Card platform was selected by Quipu as it enables both Visa and Mastercard cards for mobile payments, and is now being implemented around the world, from Kosovo to North Macedonia, to Ecuador and beyond.

NCR Corporation, a global enterprise technology provider, today announced that $2.7-billion asset TruMark Financial Credit Union has selected NCR to provide a more seamless, consistent digital banking experience to its retail and business members.

The credit union recognized that a strong digital banking partner was a critical piece of its overall digital transformation strategy. With NCR Digital Banking, TruMark Financial will be able to offer an intuitive experience for consumers and businesses alike. Plus, the credit union will be delivering advanced financial wellness tools through the platform, a core focus for the institution.

“We initially partnered with NCR to enable member self-directed banking through our ATM channel. By also offering their modern digital banking platform, we’ll be able to tie members’ experiences together across all channels,” explained Richard F. Stipa, CEO of TruMark Financial Credit Union. “We were impressed with NCR’s high ratings in the App Store and their dedication to future innovation. Our number one priority is the member experience, so these factors were very important in our decision.”

TruMark Financial even involved their members in the decision-making process. Two member focus groups were given the opportunity to review demos of the vendor finalists’ digital banking platforms, with NCR’s experience and functionality receiving top feedback.

“TruMark Financial does an excellent job of prioritizing member service, which is evidenced by their unique and member-centric partner selection process,” said Douglas Brown, president, Digital Banking, NCR Corporation. “By investing in our software and services, the credit union will be able to simplify digital banking for both consumers and businesses. We look forward to supporting their digital transformation.”

Huber Brings Extensive Finance and Operations Experience, Including 15 Years as a Public Company CFO

FactSet (NYSE:FDS) (NASDAQ:FDS), a global provider of integrated financial information, analytical applications, and industry-leading service, today announced the appointment of Linda S. Huber as Chief Financial Officer (CFO). She will join FactSet in early October 2021.

Huber brings over 30 years of experience in the financial services industry, including 15 years as a public company CFO. As CFO, Huber will lead FactSet’s global finance organization and oversee all financial functions, including accounting, corporate development, financial planning and analysis (FP&A), treasury, tax, and investor and media relations. She will report to Phil Snow, FactSet’s Chief Executive Officer.

“We are delighted to welcome Linda to our leadership team,” said Snow. “Linda is a seasoned business leader with extensive financial and operations experience in our industry. She has a proven track record of delivering results and creating shareholder value. I am confident her leadership and expertise will be a tremendous asset to FactSet as we continue to execute on our growth strategy.”

“I am excited to join FactSet and to partner with its talented team to drive long-term growth,” said Huber. “FactSet’s strong financial performance and innovative solutions truly position it as an industry leader, and I look forward to applying my knowledge and experience to help the Company achieve even greater success in the future.”

Huber most recently served as CFO of MSCI Inc., where she had responsibility for the company’s global finance activities, including controllership, FP&A, tax, treasury, investor relations, and enterprise risk management. Prior to joining MSCI, she served as Executive Vice President and CFO of Moody’s Corporation from May 2005 to June 2018. Earlier in her career, Huber held a variety of increasingly senior roles in financial services, including Executive Vice President and CFO at U.S. Trust Company, a subsidiary of Charles Schwab & Company, Inc.; Managing Director at Freeman & Co.; Vice President of Corporate Strategy and Development and Assistant Treasurer at PepsiCo.; Vice President of the Energy Investment Banking Group at Bankers Trust Co.; and Associate in the Natural Resources Group at The First Boston Corp.

Huber also held the rank of Captain in the U.S. Army. She earned an MBA from the Stanford Graduate School of Business and a B.S. degree in business and economics from Lehigh University. Huber currently serves on the board of directors of the Bank of Montreal.

Huber will succeed Helen Shan, who, as previously announced, has assumed leadership of FactSet’s sales organization as Chief Revenue Officer. Shan will continue to serve as CFO until Huber joins FactSet in October 2021.

  First-of-its-kind investment and borrowing app for consumers, in partnership with RBI approved NBFCs

·         Offers up to 12% interest annually for consumer investments with no lock-in

·         Consumers can borrow up to Rs 10 lacs at an interest rate of 12%

·         Targets investment of US$ 100mn and loan book of US$ 50mn from the product in the first year

BharatPe, one of India’s fastest growing fintech companies, today announced its foray into the consumer space with the launch of its first-of-its-kind consumer product- 12% Club. Available on Google Play Store and Apple App Store, this product is set to redefine the rules of consumer lending and investments. With 12% Club, consumers will have an option to invest and earn upto 12% annual interest or borrow at a competitive interest rate of 12%. BharatPe has partnered with RBI approved NBFCs to offer this investment-cum-borrowing product for consumers. The company aims to achieve an investment AUM of US$ 100 mn and a lending AUM of US$ 50 mn from this product, by the end of the current fiscal.

The consumers on the 12% Club app can invest their savings anytime by choosing to lend money through BharatPe’s partner P2P NBFCs. Additionally, consumers can avail collateral-free loans of upto Rs. 10 lacs on the 12% Club app for a tenure of 3 months, as per their convenience. There are no processing charges or pre-payment charges on the consumer loans. The loan eligibility will be defined based on a number of factors including consumer’s credit score, the shopping history using PAYBACK loyalty system or the payments done via BharatPe QR.

The consumers investing via the 12% Club app can put in a request to withdraw their investment anytime, partially or completely, without any withdrawal charges. They can start their investment journey by investing as low as Rs. 1000 and enjoy daily credit of interest. The upper limit for investment by an individual is currently set at Rs. 10 lacs and would be increased to Rs 50 lac over the next few months.

Commenting on the launch, Suhail Sameer, Chief Executive Officer, BharatPe said, “As we begin our journey on the consumer side, our focus will be to launch products that are industry shaping, 100% digital and easy to use. This one-of-its-kind product for consumers has been designed to ensure industry-best benefits both for lenders, as well as borrowers. We believe that 12% Club will strike the right chord with a diverse set of new-age digitally savvy customers- from young salaried individuals, to professionals with disposable incomes, as well as the investors who park their funds in various financial instruments. The initial response has been phenomenal. In the pilot phase, we have seen great traction with US$ 5mn of monthly investment run rate and US$ 1mn of monthly borrowing run rate. We are confident that this product will be well received in the market and will play a key role in driving financial inclusion in the country. This is just the beginning and we will be adding new customer products during the rest of the financial year.”

Added Suhail, “BharatPe’s P2P lending product for merchants has been one of our industry defining products with Gross Investments of close to US$ 700mn done by over 6.3 lac merchants. Also, we are one of the largest B2B Fintech lenders in the country, having disbursed over US$ 300 mn in business loans to over 2 lac merchant partners”

In order to begin the journey of investments/ borrowing via the 12% Club, a customer needs to follow the steps below:

ü  Download the 12% Club app by visiting the link

ü  Complete the sign-up process

ü  Create the 12% Club account and accept T&Cs

ü  Start investments or borrowing journey with 12% Club

Today, BharatPe is a trusted fintech partner for millions of small merchants in India. Over the last 3 years, we have led the way and launched disruptive products to empower merchants- from India’s first interoperable UPI QR, to collateral free business loans and India’s first zero rental POS machines. These products have been well received and have been key contributors for driving financial inclusion for small merchants and kirana store owners.

Recently, BharatPe forayed into the unicorn club with Series E fund raise of US$ 350 mn at a valuation of US$ 2.85 bn. The round, led by Tiger Global, also saw new participation from Dragoneer Investment Group and Steadfast Capital. Five out of the seven existing institutional investors participated in the round - namely Coatue Management, Insight Partners, Sequoia Growth, Ribbit Capital and Amplo. BharatPe is now amongst the Top 5 most valued Fintech startups in India, and has one of the strongest cap tables for any start-up in India.

UTP, a provider of market leading credit and debit card payment solutions, is launching a new eBook for SMEs, offering advice in how to future-proof their businesses.

The eBook, entitled ‘Never Going Back: How SMEs can future-proof for post-pandemic success’ explains how a secure, fast, and smart payments infrastructure can help SMEs become more resilient and adaptable to events such as natural disasters and trade restrictions. 

Speaking of the last 18 months, Michael Ault, CEO at UTP, said: “We may not live in a cashless society just yet, but it’s clear that cash is diminishing in usage, and the sooner any business can start taking digital payments, the better prepared for the future they’ll be. 

“And with digital payment acceptance in place, small businesses can drill into a goldmine of data analytics that can tell them who their customers are, how they pay and how best to reach them with targeted offers generated by their preferences. That’s yet another way businesses can ensure they get future-proofed with ease.”

It is fundamental changes to how we shop that inspired UTP to create their eBook. In it, the business shares how SMEs can use available payments and commerce options to protect their revenues in any eventuality – even those that cannot be predicted. 

Advice is imparted on how to mitigate against fraud and costly interchange and processing fees, as well as how businesses should choose the best POS terminal for their requirements.

Jaime Lowe, Sales Director at UTP, added: “We know that small businesses - from cash-based sole traders to hospitality and events businesses - suffered a huge loss of footfall during the pandemic. 

“Pre-Covid, it was unthinkable that an event could occur that would see the UK locked down and consumer footfall vanish overnight. But what small businesses lack in scale, they make up for in sheer tenacity, and pivoting to new business models at short notice.

“However, lockdowns changed purchasing behaviours in a way that is likely to be permanent. Indeed, as the use of cash declines and both consumers and businesses have become more digitally capable, it’s predicted that by 2024, 95% of all UK retail sales will be conducted through an e-commerce platform.”

Worldwide eCommerce sales increased by 57% in 2020, and though the easing of restrictions has attracted more people back to the high street, online shopping is only going to become more normalised. 

Should the future bring more disruptive events such as further lockdowns or extreme weather small businesses now have the technology and the tools to keep serving customers, and stay flexible, multi-channel, and available.

A key theme throughout the document is the need for businesses to choose their POS terminals carefully to maximise the potential they can deliver.

Michael Ault said: “Modern terminals are highly innovative and confer all kinds of benefits to the businesses that use them. However, they are not a one-size-fits all technology. Factors such as how a business operates, their volume of sales, what they sell, and who they sell to will all influence what type of terminal is best for their needs. 

“The eBook covers the various types of businesses that are either using – or should be using - POS terminals and provides advice on the best devices to help them achieve their goals. It’s free to download and we encourage all SMEs to access it. For some, it could be one of the most important documents they read this year.”

 Federos^®, a leading provider of cloud-enabled, AI-optimized assurance, analytics, and automation software that monitors and manages the performance of critical networks and services for many of the world’s largest service providers and enterprises, announced today that EWE TEL GmbH has selected Assure1^® — Federos’ flagship Unified Service Assurance solution — to transform their network operations with a focus on improving operational efficiency and providing high quality services.

EWE TEL offers high-speed internet, mobile and landline telephone services, online TV, and corporate and computing center services in Germany. It is a subsidiary of the Oldenburg-based energy and telecommunications group EWE AG.

Assure1 combines fault, performance, topology, and service management into a single, unified platform, which will allow EWE TEL to detect incidents promptly and proactively across all network domains, solve service issues faster, and increase customer satisfaction.

“We selected Assure1 from Federos to leverage the solution’s real-time intelligence to understand and address any degradation of service before it impacts our customers. Our teams will be able to better understand network activities and service status in real-time so appropriate actions can be taken quickly,” said Mitja Thomas, project manager for the modernization of the OSS stack, EWE TEL. “With Assure1’s end-to-end, cross-domain view of the entire network, we expect to improve our MTTI/MTTR, which is crucial to providing outstanding customer experience.”

“We are honored to have EWE TEL select Federos to streamline its network operations environment,” said Keith Buckley, CEO, Federos. “We look forward to helping EWE TEL realize the benefits of Assure1, and are confident its new actionable intelligence will help them to simplify and transform their network operations.”

$3.5 million line of credit provides flexibility for LadyBug Farms to meet customer demand, expand greenhouse facilities and manage working capital constraints

Bespoke Financial, the nation’s first cannabis-focused fintech lender, has partnered with LadyBug Farms to provide a $3.5 million line of credit as the large-scale California cultivator expands its cultivation facilities to continue to meet the growing demand of California’s cannabis patients and consumers.

Well known as the “farm behind California’s favorite brands,” LadyBug Farms cultivates for industry leading brands such as Old Pal, Cookies, Miss Grass, Pure Beauty, Weed and Dimebag among others. Its decision to pursue debt financing was based upon a combination of factors, most notably the lack of traditional funding in the cannabis industry and a desire to avoid capital investments as a means to maintain control of the company. The line of credit is helping the longtime California business expand its existing greenhouse capacity across three locations, as well as to provide the flexibility needed to focus on its business, rather than worry about operational expenses. LadyBug Farms has been a working farm producing commercial flowers for major retailers and florists since 1947 and entered the cannabis industry five years ago.

“It’s rare to find a cannabis business with such a rich history and expansive experience in cultivation,” said George Mancheril, founder and CEO of Bespoke Financial. “We knew that LadyBug had a reputation for high quality, but we have been really impressed by the company’s strong performance to date, and how they have positioned themselves to steadily grow with the market and continually expand their customer base.”

Headquartered in Monterey, California with additional cultivation facilities in Half Moon Bay, LadyBug Farms is a cannabis cultivator, processor, co-packager and distributor supplying products to some of the state’s leading retailers and is recognized for its high quality and fair market pricing. The farm harvests cannabis five days a week throughout the year producing up to 100,000 pounds of biomass annually. It is no secret that cannabis businesses can be notoriously difficult to fund through non-equity diluting options, which can dramatically reduce opportunities to scale businesses.

“So many companies in cannabis are busy raising capital, which leaves them unable to focus on operating the business,” said Jake Brookes, Chief Operating Officer of LadyBug Farms. “Taking the debt financing route enables us to manage our expansion and growth plans while still maintaining control and giving us the flexibility to really focus on our core strengths. But our experience and longevity really provides the resources we need to handle debt during our growth, and we don’t have to worry about losing sight of our long term focus and plan to grow with the market and our partner brands.”

Vantage FX, the multi-asset trading platform for retail and professional traders, today announces the appointment of Geraldine Goh as Global Marketing Director. A key component of the company’s expansion strategy, Goh will help to align Vantage FX’s marketing and business goals on a global scale.

Goh’s appointment comes at a time when the existing retail trading landscape often does not prioritise the needs of localised landscapes, particularly within emerging markets. With a new and ambitious generation of traders surfacing across Asia-Pacific, as well as other emerging markets, Vantage FX is keen to address the shortfalls in these markets.

Her role, alongside the marketing team, will be to offer a unique approach which is tailored to each region – providing the local business development and sales teams with the tools they need to succeed in the environment they are in.

Goh brings 10 years of experience in the field, with a notable six years as Head of Marketing, Singapore and Emerging Markets APAC at IG where she led her team through multi-faceted marketing plans for the region. Now, with her global role, she will have holistic oversight to align marketing and business goals in tandem with Vantage FX’s global expansion. Goh will focus on introducing high profile partnerships, promotions, and programmes to cover the whole client lifecycle.

Geraldine Goh, Global Marketing Director at Vantage FX, comments: “I was drawn to Vantage FX’s dynamic vision of wanting to expand into the emerging markets, whilst also looking to target high-value clients. To achieve this, from a marketing perspective, my aim is to incorporate an approach which is adaptable and tailored. I believe in being global from a brand perspective but remaining local from a strategy perspective – with this approach, we will build our brand credibility and flaunt our competitive edge, whilst also providing what each region needs to execute better trades.”

David Shayer, Chief Executive Officer at Vantage FX, adds: “We know that there is no single strategy that will cater to the needs of every region - a one size fits all approach is simply not a viable option anymore. With Goh’s experience, she brings a new dynamic to Vantage FX, and her experience in APAC and emerging markets gives her a keen eye for the nuances needed in each region. Right now, there are many markets that are underserved, and Geraldine’s appointment will be an important step in Vantage’s goal to remedy this. We’re thrilled to have the best in the industry on board during a period of rapid and exciting global growth.”

A recent survey conducted by analysts of the investment platform Robo.cash shows that 65,8% of European investors have crypto assets in their portfolios. Digital currency ranks third in popularity among other assets, after P2P investments and stocks.

The number of investors who increased the share of this alternative asset in 2021 is 42%, up from 31% in 2020. Moreover, every third of those who deal with cryptocurrency said that they make a significant profit. But at the same time, the overwhelming majority of crypto investors (82.9%) limited its share to a quarter of the total investment portfolio. Only 34.2% of respondents have no digital currency in their portfolio at all. 

When asked directly whether this year's bitcoin rally influenced the change in the balance of investors’ assets, just 15.5% answered that this was the reason to increase the cryptocurrency share. Three out of five respondents (61.8%), in turn, confirmed that the surge in bitcoin quotes had no effect on them.

The determining factor in choosing an asset is the combination of reliability and profitability. Thus, according to the respondents, the best options are stocks (38,4%) and P2P investments (20,6%), which offer an attractive rate of return in conjunction with a good degree of safety guarantee (Buyback guarantee, etc.). Interestingly, gold, the top-asset of 2021 as predicted by analysts of Robo.cash, gained a modest 3.2%. “Apparently, the traditional asset, despite its fairly high reliability, finds little response from the "new generation" of modern investors”, comment researchers. Given all the mentioned data, cryptocurrency ranks third in the list of assets attractive to investors (15.1%).

“The interest in crypto is explained, rather, by the broad outlook of P2P investors in search of optimal investment opportunities”, add the analysts. “Another supporting factor is the steadily increasing strategic trend. However, the extremely high volatility of cryptocurrency prices is undoubtedly a serious deterrent. In this sense, the guaranteed high profitability inherent in P2P investments is much more interesting for European investors, and this interest is growing. It is confirmed by the fact that 46.7% of surveyed intend to increase their share of P2P investments in portfolios this year”.

From Financial Access - to Financial Health

By Sakhile Mabena, CEO, OFIN, a fintech startup specialising in Behavioural Data Analytics, Financial Process Automation, Behaviour-based Financing and SME Behaviour Nudges

There is currently a revolution in the space of financial inclusion, with around 70% of people worldwide now having access to financial services, up from just 50% a decade ago, according to the World Bank. One of the key drivers behind this phenomenon is the huge increase in mobile phone usage among people of all income levels, allowing institutions to deliver services more easily and cost-effectively to the underbanked.

But, does access automatically translate into usage? While it is commonly thought that financial access should lead to financial prosperity, a recent assessment by Boston Consulting Group showed that South Africa, despite being the largest economy in Africa, ranked 149th out of 162 countries in its ability to convert wealth into well-being. Why the disconnect?

To successfully address financial inclusion, it is important to look at the financial behaviours of users. Having a bank account is only helpful if it is used. A recent paper released by research lab Ideas42 revealed that after studying 14 digital financial service providers across South Asia and Africa, the average proportion of accounts with activity was only about 25%. This shows a worrying and unsustainable disparity between innovation and impact.

Research in the fields of behavioural science has revealed numerous behavioural barriers that prevent people from building their financial health. One of the most significant barriers is the so-called intention-action gap. Even though people may have knowledge and awareness, neuroscience has confirmed that these factors, in isolation, are poor indicators of behaviour. So, providing people with the right information, such as ‘saving for your retirement is important’, will not necessarily translate into people behaving accordingly. Sometimes, the gap is due to the tendency of people to focus on the here and now and not the long-term benefits and rewards, favouring immediate gratification.

A second barrier is the complexity and information overload that exists in the financial services sector. Financial products can be overwhelming for those consumers who aren’t financially literate or astute. Research shows that when there are too many options to choose from, people are less likely to choose anything as they become overwhelmed. Having more options requires time and effort to process, leading to inertia, procrastination, or buyer’s remorse.

Analysing these barriers through a behavioural lens reveals opportunities to create

new financial offerings that are better suited to customers’ needs. Interventions using psychological triggers or nudges can be designed to assist people in bridging the gap between intentions and actions. A nudge is effectively an intervention that reframes the way choices are presented so that people are more likely to pick the option that benefits them. Importantly, while nudging may reframe choices, it doesn’t restrict them. It is not as forceful as an incentive or a penalty.

Another behaviour change technique is a commitment device, which helps a user to make a choice in the present that restricts choices in the future to help control impulsive spending. An example is opening a savings account that has hefty fees for early withdrawal or that disallows withdrawals for a pre-specified time.

Using these techniques, the team at OFIN has developed a first-of-its-kind mobile app that endeavours to change financial behaviour, which will ultimately address financial inclusion. It is aimed at South African fleet operators, owner and courier drivers and focuses on three aspects for the driver: to save on expenses, to make the participant lendable and to automate and improve on cutting the costs of expenses such as fuel and tyres.

The app uses an online marketing technique called gamification, which encourages engagement with a product or service. By gamifying financial spend, we hope to encourage usage, assist logistics business to run more profitably, and, more importantly, to uplift and educate drivers to better manage the vehicle. The app connects to the vehicle, empowering the driver to be financially healthy as expenses are monitored and incentives provided for effective cost-control. There are infinite possibilities on what the user can automate. All the user needs to do is choose a trigger, such as ‘after every 100km travelled’, then an action, such as ‘put aside R45’, a function, such as ‘for tyres’, and then the supplier can accept or reject an automation. This automation is repeated until the independent driver has to use funds to pay for tyres.

By better understanding how people process information, make choices, form preferences and act on their choices, the institutions and people working to promote financial inclusion can make progress on closing critical gaps and address not only access but also action.