ULTUMUS, the leading exchange-traded fund (ETF) specialist, and Alveo, the leader in market data integration and analytics solutions for financial services, have announced a partnership to bring together ULTUMUS’s global ETF and index managed data service and Alveo’s data mastering solution Prime. The partnership will enable Alveo’s customers to integrate Index and ETF information more quickly, while allowing ULTUMUS’s clients to enhance their data mastering and data integration capabilities.

ULTUMUS’s specialisation is to capture, normalise, enrich and distribute global ETF and index composition data, reducing risk and providing solutions to both sell side and buy side. ULTUMUS provides look-through information on global ETFs and indices with the ability to see daily weights and constituent information for Open, Close and Rebalance for usage in trading, risk and performance.

Alveo focuses on the integration of market and reference data from different sources covering all asset classes, including pricing information, referential information, issuer and corporate actions data. Alveo’s data mastering and data quality solution tracks the collection, integration and quality-vetting of a diverse set of content providers.

“Investment management is becoming increasingly data intensive and we face demands from our clients to help them quickly onboard additional data sets. Index and ETF data is a key data category for them. We are pleased to work together with Ultumus to provide integration to our customer base with  high-quality and detailed index and ETF information”, said Mark Hepsworth, CEO Alveo.

“We are pleased to work together with the Alveo team”, said Bernie Thurston, CEO, ULTUMUS. “Reliable and scalable data integration with clear lineage has rapidly become a must-have in investment management. Alveo’s strength in data mastering and integration complements ULTUMUS’s managed data service”. 

Molo Finance to partner with Mortgage Advice Bureau, expanding its Intermediary distribution to offer the best in unique digital mortgage services to a greater pool of customers.

July As a fully digital lender, Molo Finance underwrites all mortgages online using technology to speed up lending while providing a seamless and paperless experience for customers. Molo will now be included in Mortgage Advice Bureau’s mortgage options, giving brokers and their customers more choice when looking for the right mortgage.

Francesca Carlesi, CEO and Co-Founder of Molo said: “We are delighted to partner with Mortgage Advice Bureau, which is one of the leading mortgage intermediaries in the industry. Collaborating with such a prestigious brand and the group’s strong customer centric approach and willingness to embrace innovation, we felt that this was the perfect fit for Molo and supports our desire to lead the mortgage industry through technology and innovation. We look forward to working with Mortgage Advice Bureau and its advisers.”

Ben Thompson, Deputy CEO at Mortgage Advice Bureau, said: “Both MAB and Molo share similar visions in terms of being an enabler of technology in the mortgage intermediary market and that’s why it made absolute sense to partner with them. Our advisers will now gain access to the Molo platform and products all within a fully digital space, which helps enhance the customer journey even further.”

 • Leading issuer and acquirer in Nordic and Baltic regions enhances its fraud platform with ACI Fraud Management
 • ACI’s machine learning capabilities and consortium data underpin Swedbank’s strong customer authentication (SCA) exemption strategy, contributing to a sizeable decrease in card fraud
 
ACI Worldwide, a leading global provider of real-time payments and digital payment software solutions, today announced that its partnership with Swedbank, one of the leading issuing and acquiring banks in the Nordic and Baltic regions, has contributed to a 55 percent decrease in card fraud, helping to improve customer experience and business growth for the Swedish bank.
 
Swedbank, like many other financial institutions across Europe, had been under pressure to meet strong customer authentication (SCA) compliance mandates. SCA, a new regulatory mandate under PSD2, intends to protect consumers and businesses from fraud by making it more difficult for fraudsters to make payments from their accounts. Under the new regulations, consumers and businesses must verify their identity with at least two steps of authentication. SCA checks are mandated for every digital payment over €30 but can be exempted if the merchant has demonstrated low levels of fraud, for example.
 
The bank partnered with ACI to enhance its fraud platform with the help of ACI Fraud Management and has transitioned from a rules-based to a holistic fraud management approach – which now applies insights from machine learning and shared data in addition to rules – to exempt low-risk transactions from the SCA requirements. Utilizing ACI’s model generator functionality allows Swedbank to create and maintain their own predictive machine learning models within minutes. The offering was recently enhanced with shared intelligence, empowering the bank to collaborate and build hybrid machine learning models.
 
“Utilizing ACI Fraud Management  has allowed us to move from single transaction monitoring to customer behavior monitoring, a strategy that helps us to quickly identify low-risk transactions and exempt them from SCA’s two-factor authentication requirements,” said Tonu Ots, Head of Card Issuing, Swedbank. “This has led to a considerable decrease in card fraud and helped to enhance the customer experience, which is crucial to business growth in light of average high checkout abandonment rates.”
 
“Swedbank has demonstrated that it is possible to turn the SCA challenge into an opportunity,” said Jay Floyd, Senior Principal Financial Crime Consultant, ACI Worldwide. “In addition to delivering an innovative fraud management solution that maintains compliance, manages exemptions and enhances the customer experience, the bank has created a true market differentiator for themselves and their clients by deploying the latest ACI technology.”
In March 2021, Swedbank was recognized for its innovative approach to SCA with the Model Risk Manager Award for Legacy and Ecosystem Transformation by Celent.

A new study by Juniper Research has found that smart POS terminals globally in service, where analytics and loyalty can be integrated directly to the terminal, will increase from 13.7 million in 2021, to 35 million units in 2026. As digital payments accelerate and QR codes provide intense competition, particularly in North America, POS terminals need to offer more features than before. The report identified smart POS terminals as the future of POS terminals that should be considered by all vendors.

The research recommends POS manufacturers focus on high-value features, such as inventory management, loyalty scheme automation and store synchronisation, in order to maximise the appeal of their offerings in a highly competitive hardware market.

For more insights, download the free whitepaper: POS Terminals ~ Changing the Payments Experience Whitepaper

Contactless to Account for Majority of Transaction Value at POS in 2026

The new research, POS Terminals: Device Innovation, Competitive Landscape & Market Forecasts 2021-2026 Market Research, found that by 2026, 57% of all payments at POS by value will be contactless globally, compared to just under 25% in 2021. This growth, supported in large part by increasing contactless payment limits, represents a steep change in how consumers pay.

The research recommended that, as contactless enablement is now the default for POS manufacturers in their products, they need to focus on new capabilities, such as smart POS and greater device mobility within stores, to sustain current POS hardware shipment levels.

Soft POS to Carve Market Niche

The research identified that soft POS, the ability to use NFC on mobile devices to accept contactless payments, will accelerate. Soft POS provides a cheaper route into card acceptance than ever for the smallest businesses, meaning that it is compelling for this particular niche.

Accordingly, the global number of smartphones being used for soft POS payments will increase from 3.2 million in 2021, to almost 24 million in 2026. However, the research emphasised that soft POS not being an immediately recognisable POS terminal will limit consumer confidence around security; restricting growth.

Whitepaper Download: https://www.juniperresearch.com/whitepapers/pos-terminals-changing-the-payments-experience

POS Terminals Market Research: https://www.juniperresearch.com/researchstore/fintech-payments/pos-terminals-research-report

 AREX Markets, the data-driven FinTech company that drives financing costs down for SMEs and enables them to get access to cash quicker, today announces its Series A funding round, securing EUR 8.8 million to accelerate its rollout in the UK and Spain.

Mosaic Ventures, which has strong fintech and SME financing expertise, and LocalGlobe led the round, joining existing investors Lifeline Ventures and angel investor Richard Laxer, former CEO of GE Capital. AREX had previously raised seed funding of EUR 3 million in 2016.

AREX’s unique approach to transforming the invoice factoring industry drove strong interest in the round, alongside its proven track record in the Nordics and sustained business growth at nearly 20% month-on-month during 2021.

Airto Vienola, CEO of AREX, comments, “Our goal is to level the playing field for SME financing. Banks remain reluctant to lend to SMEs, often leading to them feeling trapped when it comes to their business finances. We listen carefully to our partners’ and customers’ requirements and liberate the liquidity within their business. We’re already seeing a sharp rise in demand for this service and a willingness for business owners to finally reappraise their financing options, which have been so unfavourable for so long. Closing the Series A raise with such supportive and significant partners on board is a major milestone in AREX’s growth and continued expansion.”

With this funding AREX has launched in the UK and Spain with its proprietary technology that delivers embedded lending into accounting systems, allowing SMEs frictionless access to a competitive financing marketplace. The AREX technology seamlessly integrates into our customers’ softwares and processes by using data to drive automation of the often cumbersome financing workflow.

The AREX platform opens up an alternative to traditional invoice financing, facilitating a live, algorithm-based trade that enables SME’s to get access to cash trapped in their debtor book and allowing professional investors to invest in SME assets directly without prohibitive transaction costs.

The global pandemic has put immense pressure on SME businesses, with many suffering from slow or frozen payments. AREX helps them by unlocking their time and cash flow, financing up to 95% of all invoices sent to the platform within 24 hours.

This innovative approach saw AREX named Landing Platform of the Year in the prestigious Future Digital Awards for Fintech & Payments by Juniper Research. They were recognised as having made an outstanding contribution to the industry.

Toby Coppel, Partner of Mosaic Ventures adds: “AREX is creating much needed cash flow opportunity, flexibility and access for SMEs – just as so many of these are coping with major pressures on their company finances. The business’ mission to change the face of SME lending, has already seen tremendous successes in the Nordic markets. As they expand further into the UK and Spain, it is an exciting time to come on board and partner with the management team to support their international growth.”

Timo Ahopelto, Founding Partner, Lifeline Ventures, said: “The AREX team is building an entirely new asset class and a critically important platform for SME financing that is game changing. SMEs in the UK and Spain will benefit from this alternative cash flow approach and be able to rebuild and scale their businesses after what has been a turbulent year.”

Julia Hawkins, General Partner, LocalGlobe adds: “SME financing is massively underserved and is ripe for a digital first solution. AREX's unique approach has been extremely effective in the Nordics, and we are now excited to help SMEs in the UK and Spanish markets access their capital much quicker. They are a team with proven execution, which can transform the SMEs growth trajectory”

BPL Global, specialist Credit and Political Risk Insurance (CPRI) broker, has  further consolidated its position as the resident expert in the CPRI market with the release of its  latest innovation, BPL Sphere – a new platform designed to give clients full and immediate visibility  to their CPRI portfolio and exposures across their global operations.  

The platform, which BPL Global has developed and refined over the last twelve months, is believed  to be the most sophisticated of its kind in the market, and comes in response to the growing  demand among clients for sleeker, more holistic tools with which to analyse and utilise their  insurance data.  

The multi-faceted platform gives clients access to all their CPRI data through a single, user-friendly  portal. Dashboards track and display all aspects of a client’s activities, ranging from non-binding  quotations, through to bound policies, invoicing and claims, and their portfolio view can be filtered  according to requirement – for instance, by country, obligor, cover type, policy status, currency or  insurer security. The tool is designed to give complete oversight for risk management purposes, as  well as allowing for in-depth analysis of premium spend, insurer relationships and exposures, to  streamline internal reporting.  

James Esdaile, Managing Director at BPL Global commented: “We are delighted to bring BPL Sphere  to the market as the new cutting-edge of client servicing capabilities. From transactional flow to  counterparty risk management, this tool provides real-time data that has a myriad of uses  throughout our clients’ organisations.”  

Indeed, through the platform, clients are able to “slice and dice” their data according to their  individual needs, as well as extract it to use elsewhere within their management, systems, and  operations. BPL Sphere permits unparalleled visibility across clients’ country and counterparty  exposures, active policies and corresponding endorsements, invoices payments and claims.  Statistical data, together with copies of bound policies and endorsements, can be exported from the  platform for clients’ own internal needs, whether that be for their front, middle or back office  functions.  

“Our view has always been that we are custodians of our clients’ data – the data belongs to them  and we are there to support them in managing their exposures”, added Sian Aspinall, Managing  Director at BPL Global. “Through BPL Sphere, we are now able to empower our clients by furnishing  them with their own data, at new levels of usability. They can leverage this both internally, but also  with insurer markets, as a means of getting the most out of their insurance programmes.”  

Several clients are already enjoying the benefits of BPL Sphere, and BPL Global continues to roll-out  the platform across its client base, with its expert team of brokers on-hand to support new users  navigate the tool. 

Jack Zhang, Co-founder and CEO of Airwallex, has been awarded the University of Melbourne Faculty of Engineering and Information Technology’s Kernot Memorial Medal for engineering excellence. In addition, Airwallex also announced today the opening of its second engineering hub in Australia, based in Sydney. This comes as Airwallex continues to accelerate its hypergrowth momentum, with the company’s valuation increasing to US$2.6 billion after a recent capital raising of US$100 million earlier this year.

First tech leader to receive the Kernot Memorial Medal

In the Kernot Memorial Medal’s 95-year history, Zhang is the first recipient from an information technology (IT) background, with the University expanding the award criteria to recognise tech innovators of the future. This recognition also acknowledges the changing role of engineering in society – shifting the focus on physical assets and large infrastructure to incorporate future focused technology and innovation.

The Kernot Memorial Medal was established in memory of Professor William Charles Kernot, the first professor of Engineering at the University of Melbourne. The award traditionally recognises distinguished engineering figures in Australia. Previous recipients include Sir John Monash, construction magnate John Holland and civil engineer Donald Victor Darwin.

Zhang, a Computer Science graduate from the University of Melbourne, has led a distinguished career in Australia’s financial technology sector. Working as a technical lead for major banks including NAB and ANZ, Zhang co-founded Airwallex with four friends in 2015, three of which were also University of Melbourne alumni. The business has rapidly grown to become one of the world’s leading technology companies, achieving the title of Australia’s fastest-grown tech unicorn, and raising over US$500 million in equity funds to date.

Speaking on the award win, Dean of the Faculty of Engineering and Information Technology, Professor Mark Cassidy, said, “We are proud of the incredible progress Jack has made in his career with Airwallex and the leadership he shows in the tech space. Recognising Jack’s achievement with the Kernot Memorial Medal, the first time a tech leader has been honoured in this way, acknowledges the growing role of technology and entrepreneurship in society. We can’t wait to see what Jack does next and look forward to strengthening our relationship with him!”

Zhang responded to the award win as a significant moment in his career. “As a University of Melbourne alumni, I am honored to have received such a prestigious award, and to be recognised as the first tech leader to be awarded with the Kernot Memorial Medal,” said Mr Zhang.

“Inspired by the approach of my professors during my time at the University of Melbourne, I’ve been driven to look beyond what’s possible and solve tough engineering challenges every day. This ethos is a key part of the product and engineering culture at Airwallex - from our leadership team to our internship program - and I hope this inspires talented engineers to forge their careers at Airwallex.

“I am so proud of what we have achieved with our global financial infrastructure, and this award reinforces the excellence of our technology and innovation. We are truly on our way to realising our vision to be the global financial cloud to empower businesses to operate anywhere, anytime.”

New engineering hub in Sydney will boost local talent pool

To continue its pursuit of engineering excellence, Airwallex’s growing Sydney team will house the company’s second Australian engineering hub. Similar to its existing Melbourne hub, Sydney’s engineering team will focus on research and development in new products and enhancements for Airwallex’s global financial platform.

The company currently employs over 50 engineers in Australia, and plans to double that number across Sydney and Melbourne by the end of 2021. Outside of Australia, Airwallex has engineering hubs in San Francisco, Shanghai and the Netherlands.

“Melbourne’s engineering hub has played a pivotal role in Airwallex, with many of our recent products beginning its development there, such as our core banking platform and multi-currency Visa debit cards. After witnessing the big impact our Melbourne team has had on the development of our platform and products, it was a no-brainer to open our fifth engineering hub in Sydney. This new hub allows us to invest in the growing tech talent pool in Sydney, which we look forward to welcoming to our team,” said Mr Zhang.

Integral (www.integral.com), a leading technology company in the foreign exchange market, reported today average daily volumes (ADV) across Integral platforms totaled $51.0 billion in June 2021. This represents an increase of +8.7% compared to May 2021 and an increase of +45.3% compared to the same period in 2020.

Reported ADV represents volumes traded across the group’s entire liquidity network, including TrueFXTM and Integral OCXTM, in aggregate.

Integral’s global trading network has been designed to meet the execution needs of the widest variety of FX market participants, including banks, brokers, asset managers, and hedge funds. Our clients leverage the deep and diverse FX liquidity available through our platforms and have the choice to trade any execution style required, all within an integrated environment. For more information visit integral.com.

Blackfinch Asset Management is pleased to announce that its Managed Portfolio Service (MPS) is celebrating its three-year anniversary since launch. During this time, the team has expanded five times, has welcomed over 50 partner firms, and assets under management have increased threefold.  

After joining in 2018, co-directors Alex Sumner and Gareth Deacon launched the Blackfinch MPS in July 2018 in a competitive space, offering a unique service proposition within a saturated market. The Blackfinch MPS sets itself apart by working with select adviser firms, offering a tailored and bespoke service.  

Alex and Gareth have also played a leadership role in ensuring the MPS range is managed to meet Blackfinch’s group-wide environmental, social and governance (ESG) criteria. Not only do they adopt a quantitative and qualitative approach to ESG, where positive screening is employed, they actively prioritise investments where investment managers directly engage with portfolio companies on ESG issues, and where Blackfinch’s active approach to ESG is shared. 

Richard Cook, Founder and CEO of Blackfinch Group, welcomed the milestone: “It’s been a great 2021 for our MPS range, which now has a three-year track record to be proud of. Earlier this year, the range earned Defaqto’s Five Diamond rating, which recognises excellence in portfolio construction, outstanding service and value for money, as well as achieving on investment objectives.  

“It’s been a pleasure to watch Alex and Gareth build out the proposition and the team from scratch, and their success is down to the way their portfolios expertly capture the prevailing market environment while looking after the needs of their investors.” 

The Blackfinch multi-asset portfolio range includes five total return portfolios (Defensive, Cautious, Balanced, Growth and Enhanced Growth) as part of the MPS. Each portfolio is targeted to deliver returns of between CPI +1% and +5.  

“The objectives were riven by a key requirement to satisfy MiFID II and PROD requirements. Returns are relatable and relevant to the end client, as well as complementing the cash flow forecasting models used by advisers. 

Alex Sumner, Investment Director: “We created our MPS range in consultation with adviser firms, which helped us identify gaps in an overcrowded market where other managed portfolio services looked and felt the same. They helped us to build a solution that puts clients first, complemented rather than challenged what was already in the market, an approach that has led to the success of the proposition so far. 

“Our business model allows us to work with a select number of partner firms and our solutions can meet client demands for accessible, diversified offerings aligned with ESG factors. The next phase will see us working with more of our partner firms on new projects, such as ESG implementation, as well as training and engaging with new clients.” 

Gareth Deacon, Investment Director: “We’re thrilled to be celebrating the three-year anniversary with all our portfolios delivering on their inflation-beating objectives. Since launch we have always put the client first and looked to deliver a diversified offering.  

“This has attracted a combination of assets that allow our approach to work for all. We work closely with our partner firms and continued adviser demand means we're anticipating launching additional sub-funds within the range later this year. Watch this space.” 

Blackfinch Asset Management’s distribution team welcomed Paul Lanigan as Distribution Strategy Director from Standard Life earlier this year, and is continuing its expansion with an additional Business Development Manager set to join the team in July.