audax Financial Technology, a comprehensive digital banking technology solutions provider backed by Standard Chartered, and Thought Machine, a global leader in next-generation core banking technology, have announced a strategic partnership to transform and modernise the banking technology landscape.

Digital banking is projected to reach a USD13 trillion opportunity for banks by 2032. With the launch of this partnership, audax and Thought Machine are positioned as key players in this expanding market. The partnership is centred on delivering innovative digital banking and BaaS solutions that meet consumers’ needs, at scale with faster speeds and lower costs.

The collaboration between audax and Thought Machine combines audax’s scalable digital banking platform that enables seamless API-based integration with partners and banks, with Thought Machine’s highly configurable cloud-native core banking platform, Vault Core, which enables financial institutions to offer fully customisable financial products for their end customers. This integrated solution significantly reduces the need for multiple vendors, streamlining the entire process.

The flexibility and scalability of the combined technologies allows incumbent banks and financial institutions to swiftly modernise their infrastructure and create new revenue streams by opening new business models that offer various financial products at scale.

audax and Thought Machine’s joint solution can also seamlessly integrate with a bank’s current infrastructure, enabling financial institutions to rapidly establish a new digital bank or offer BaaS at speed. The partnership, combined with ready components and extensive customer journeys, facilitates seamless plug-and-play experiences and eliminates the complexities of development and legacy system integration for swift market entry.

“audax understands that the future of financial services hinges on the strategic collaboration between technology solution providers to empower incumbent banks and financial institutions as they begin their journey to adapt to a rapidly evolving financial services landscape,” said Kelvin Tan, CEO of audax. “This joint solution provides customers with the ability to obtain hyper-customised offerings, and we look forward to delivering these robust end-to-end digital banking solutions that address the diverse needs and use cases and needs of various financial institutions.”

Randy McFarlane, global head of partnerships, Thought Machine, added, “Our collaboration with audax reduces the challenges of building a modern technology stack, providing a seamless, efficient, and scalable digital banking experience. By integrating both innovative technologies we are empowering banks and financial institutions to navigate the complexities of modern banking with confidence.”

Surfboard Payments, a leader in innovative payment solutions, proudly announces the launch of its comprehensive omni-solution. This advanced offering is meticulously designed to cater to the intricate needs of partners and merchants demanding a cohesive system for both online and in-store payments. By bridging the gap between digital and physical retail environments, Surfboard Payments introduces a unified platform that enhances transaction processing and elevates the customer and merchant experience. 

In response to the dynamic shift towards omni-channel retailing, Surfboard Payments has developed a solution that simplifies the integration of online payments while maintaining a consistent shopping experience across all customer touchpoints. The introduction of an intuitive checkout page and a user-friendly Software Development Kit (SDK) ensures effortless incorporation into any partner’s and merchant's operational framework.

"Our objective at Surfboard Payments has been to equip businesses with not just forward-thinking payment solutions but also those that encapsulate the entire spectrum of transactional environments," stated Christopher Lindfeldt, CEO of Surfboard Payments. "With our new omni-solution, we're streamlining the adoption process to offer a frictionless shopping journey, irrespective of the channel." 

Emphasizing ease-of-use and integration, the solution adheres to the established payment and order structure familiar to Surfboard Payments' in-store implementations. This consistency guarantees that partners and merchants can readily implement the system, drastically cutting down on the learning curve and deployment timeframe. The initiative underscores the company's dedication to providing accessible and efficient payment solutions. 

Highlights of Surfboard Payments' Omni-Solution: 

● Seamless Payment Integration: A singular platform that consolidates in-store and online payments, granting merchants a holistic view of customer transactions. 

● Effortless System Adoption: Through the straightforward SDK and customizable checkout page, integration into existing merchant systems is significantly simplified. 

● Improved Shopping Experience: The solution fosters a smoother and more uniform customer journey, enhancing satisfaction and fostering loyalty.

This initiative signifies a pivotal advancement for Surfboard Payments as it continues to lead the charge in paytech innovation, striving for simplicity and effectiveness for both merchants and their customers. 

"As consumer expectations evolve towards more versatile and convenient shopping and payment methods, our omni-solution is a direct reflection of our commitment to meet and exceed these demands," remarked Christopher Lindfeldt, CEO of Surfboard Payments. "We are excited to redefine payment integration standards and support our partners and merchants in achieving greater success with this enhanced offering." 

Digital bank Chase has today been announced as the Official Banking Partner of the Home Nations Football Teams. 

Chase will be working with the England, Northern Ireland, Scotland and Wales Men’s, Women’s, Youth & Para national teams, across a four-year period. The partnerships will see the Chase logo appear on training kit worn by the Men’s and Women’s teams. 

At the heart of the partnerships, Chase will be supporting individuals across the U.K. from low-income backgrounds* by providing access to fully funded coaching qualifications and free learning tools, helping to develop transferable skills for life on and off the football pitch. More detail will be revealed when the programme is launched in the coming weeks. 

The new partnerships build on Chase’s ongoing investment in community-based programmes, and extend JPMorgan Chase’s decades-long support for local communities in the U.K., where it employs over 22,000 people. 

Through this sponsorship and Chase’s existing partnership with the National Literacy Trust, Chase aims to empower individuals by improving access to the resources and tools they need to unlock their potential and help build pathways towards future employment. 

Chase will also be providing opportunities for customers to get closer to the national teams through memorable experiences at matches and training grounds. 

Deborah Keay, U.K. Chief Marketing Officer at Chase, said, “Football has the unique ability to drive positive societal change, bringing together millions of people across every corner of the U.K. We are excited to be working with the Home Nations to use the power of football to support individuals and communities across England, Northern Ireland, Scotland, and Wales. We recognise there are barriers that can make obtaining coaching qualifications difficult for many. By supporting individuals with access to the right resources and tools they need to succeed, we can help people develop key life skills on and off the pitch that will have a positive impact on their lives.” 

Mark Bullingham, FA Chief Executive, said: "Our new partnership with Chase is an exciting opportunity that will help us to develop the next generation of coaching talent across all levels of English football. Importantly, this collaborative programme will directly support people from disadvantaged communities across the country who wish to pursue a future in football coaching. Together, we will create a new pathway for aspiring coaches by providing access to fully funded courses and free training resources so that they can achieve a range of industry leading qualifications." 

Scottish FA Chief Executive Ian Maxwell, said: “We look forward to kicking off this exciting partnership with Chase that will not only support our national teams, but some of Scotland’s most committed grassroots coaches of today and tomorrow.  

“We talk regularly about the power of football making an impact on and off the pitch – whether it’s our talented players striving to inspire the nation, or the game itself making a real difference in everyday life across a host of areas. Those are ambitions we share with Chase. Our national teams have a lot to look forward to in the coming months and I know our Coach Education team is looking forward to supporting Chase in their community work.” 

Noel Mooney, CEO, from The FAW, said: “The FAW is incredibly excited to partner with Chase, who will help the nation develop important life skills and increase opportunities through the provision of access to fully funded coaching qualifications for people from low income backgrounds. Football is a powerful tool, and we see the positive impact that it has on people throughout Cymru and with this fantastic new partnership we can reach even more people and communities to provide them with the skills to help us make Welsh football even stronger.”  

Irish Football Association chief executive, Patrick Nelson, said: "This partnership will provide added value to different parts of our operation, which is really exciting. We know that our senior teams attract significant attention, and rightly so. But we are committed to enhancing the skillset of individuals right across our football family and the bursary for aspiring coaches that comes as part of our partnership with Chase, an organisation that shares our vision and values here at the Irish FA, will really help us continue to do that." 

STICPAY, a leading global e-wallet service provider and payment gateway, today announces new partnerships with more than 20 leading Asian local payment providers in a move that makes global payments for Asia’s developing market communities more accessible, integrated, and cost-effective.

Across China, India, Hong Kong, the Philippines, Singapore, Indonesia, Vietnam, Thailand, and Malaysia, STICPAY has integrated a wide range of both traditional and challenger local payment methods. These include Alipay and Wechatpay (China and Hong Kong), GCash (Philippines), PayNow (Singapore), QRIS (Indonesia), MonoPay (Vietnam), PromptPay (Thailand), UPI (India) and TNG Wallet (Malaysia), as well as bank transfer and mobile payment, plus many others.

The strategic move means that a broader segment of the Asian population can now benefit from e-wallet services, thanks to the integration between STICPAY and established local payment providers. The integrations also mean that local users in Asia – both individuals and businesses – can use tailored, local payment options that are familiar and convenient to them, in turn enabling them to manage their finances, pay bills, and undertake everyday transactions more easily.

The partnerships will also make transitions far more cost-effective, with local payments considerably reducing or eliminating transaction fees compared to international transactions.

In addition to the Asian partnerships, STICPAY has also launched new partnerships with local payment providers in Australia (PayID) and Colombia (Nequi) as it looks to expand its partnerships with local payment providers around the world.

According to research from Juniper, more than 60% of the world’s population will use digital wallets by 2026, with emerging markets driving much of this uptake. Indonesia, for example, is forecast to have 202 million mobile wallet users by 2025, with digital wallets helping boost growth in emerging market economics where banking infrastructure is often outdated, inaccessible and poorly distributed.

Sean Park, STICPAY CEO, said:

“STICPAY's introduction of new local payment methods marks a significant stride towards creating a global financial ecosystem that understands and respects users' unique needs in various countries. By prioritizing convenience, trust, and cost-effectiveness, STICPAY is not just offering a service; it's fostering a financial experience tailored to the diverse preferences of its users. As we move forward, this innovative approach solidifies STICPAY's commitment to being a leader in the digital finance realm, shaping the future of finance one region at a time.”

More than half of European small businesses struggle with accessing financing. In response, the Swedish fintech company Froda expands its partnership with Visa, a world leader in digital payments, to scale embedded SMB lending across Europe. This enables other fintechs, banks, and neobanks to access Froda’s card-based embedded lending product to offer business loans to their customers.

Over 50 percent of European small businesses lack external financing, even though it’s a necessity in order to thrive and grow.* In the face of economic headwinds, access to finance becomes even more challenging. The partnership between Froda and Visa aims to help SMBs access financing in real time through automated credit decisioning and instant Visa Direct payouts.

“The extended partnership marks an important step in evolving the SMB landscape in Europe. Our joint efforts to promote the card-based embedded lending solution underline our commitment to fostering innovation for our clients and partners, so that they in turn can support the growth of small and medium-sized enterprises” says Philip Konopik, Regional Managing Director Nordics & Baltics at Visa.

This partnership focuses on the adoption of a card-based embedded lending solution. Card-based lending operates similarly to a traditional business loan for SMBs, but offers increased speed and convenience. It is widely accessible across markets, thanks to the extensive global network of Visa’s card infrastructure.The product creates opportunities for other fintechs and banks to scale their businesses and expand their offerings.

“This is a milestone for us and for SMBs across Europe. We are excited about what we have achieved so far and are confident that our innovative approach to SMB lending will continue to make a positive impact. The expansion plans across Europe demonstrate our dedication to reaching more SMBs and driving economic empowerment through accessible financing solutions” says Olle Lundin, CEO and co-founder of Froda.

Since the product was launched in June, card-based embedded lending is now available in Denmark via Lunar and in Germany via Kontist, a part of Ageras Group. The plan for the partnership is to embark on an ambitious expansion across Europe. The focus includes identifying new markets and partners. This expansion aligns with the companies’ commitment to providing accessible and innovative financial solutions to SMBs across Europe.

“Since the product´s launch in June, we have successfully gone live with two partners in two markets and have seen a great interest within the industry. We look forward to expanding the product to additional markets, providing more entrepreneurs with access to finance” says Stella Snickare, VP Froda Embedded.

*Eurostat, Statista, Allianz, Froda

Dwolla, a leading U.S.-based account-to-account payment solution, announced the launch of its groundbreaking Open Banking Services today. These built-in open banking integrations extend Dwolla's account-to-account (A2A) offering to include instant account verification, balance checks and fraud mitigation. Dwolla's Open Banking Services empower mid- to enterprise-sized businesses with the functionality they need to offer fast and secure A2A payments through Dwolla's single API.

"Our vision with Dwolla's Open Banking Services is to empower businesses with a seamless, all-in-one solution for A2A payments," said Dave Glaser, CEO at Dwolla. "By consolidating essential A2A payment functionalities under one roof, we aim to simplify the payment landscape for businesses, enabling faster time-to-market and improved operational efficiency."

Traditionally, navigating the complexities of A2A payments has been a challenge for businesses, often requiring multiple vendors, APIs and technical integrations. Dwolla enables enterprises to digitally transform their payments by offering a comprehensive, modern solution encompassing instant account verification, balance checks, fraud mitigation and A2A transfers through a unified integration.

Dwolla's Open Banking Services offer a host of benefits to businesses, including:

• Comprehensive Solution: Dwolla's single API enables enterprises to create rich payment experiences embedded within their applications through access to open banking services, including verification of customer and business records and the secure exchange of account credentials.
• Reduced Time and Effort: Dwolla's single API allows enterprises to enable fast and secure A2A transactions through a single vendor. Dwolla simplifies the integration process by streamlining contract management, technical integration and ongoing maintenance efforts.
• Modular Approach: Dwolla's scalable and customizable solution is built to fit the specific needs of mid-to-enterprise clients.

Dwolla simplifies the A2A payment experience through its Open Banking Services by pre-integrating with leading open banking service providers. This pre-integration ensures a smoother implementation process for businesses, reducing complexity and accelerating time-to-market for A2A payment solutions.

With Dwolla's Open Banking Services, businesses can embark on a journey towards more efficient, secure and streamlined A2A payments.

Kraken, one of the longest-standing and most secure cryptocurrency exchanges, is delighted to announce the launch of Kraken Institutional, a new umbrella brand for a number of Kraken’s existing products and services aimed at institutions, asset managers, hedge funds, and high net-worth individuals. Kraken Institutional intends to provide a one-stop shop for innovative and bespoke solutions for the unique needs of Kraken’s institutional client base.

Kraken Institutional will be the single point of contact for reliable, scalable and easy-to-integrate solutions for institutions seeking exposure to the crypto asset class. It pulls together the Kraken products and services institutions already use, including spot trading, OTC trading and staking.1 Kraken Institutional will be protected by world-leading cybersecurity and supported by an award-winning account management team.

Kraken has a peerless reputation as one of the most reliable and reputable players, with one of the fastest and most liquid marketplaces in the industry. It is already ideally suited to be the primary trading venue for institutions that prize speed above all else, as well as those who prefer the white glove treatment.

“If you already work with Kraken, you know how much we care about offering high quality products and a client-first experience,” said David Ripley, CEO of Kraken. “We’ve been the leading crypto exchange for more than a decade and through Kraken Institutional, we’ll offer the same deep expertise and cutting-edge technology to propel trading excellence for institutions.”

Tim Ogilvie, who came to Kraken via the acquisition of Staked, the leading non-custodial staking platform for institutions, will take over as the Global Head of Institutional. He’ll be joined by some of the most experienced engineers, product specialists, and traders in the crypto space today. Institutions need reliable, scalable and easy-to-integrate solutions and the team behind Kraken Institutional will meet the level of quality clients have come to expect.

“Institutional adoption of crypto is growing rapidly, and with the launch of Kraken Institutional we’re poised to grow with this client segment,” said Tim Ogilvie, the new Global Head of Institutional. “The recent ETF approval has spurred broader institutional demand; with Kraken Institutional, Kraken is pulling together products and services to meet the needs of institutional clients. Like crypto itself, Kraken Institutional is moving fast: expect more to come in the near future.”

Klarna today announced its AI assistant powered by OpenAI. Now live globally for 1 month, the numbers speak for themselves:

• The AI assistant has had 2.3 million conversations, two-thirds of Klarna’s customer service chats
• It is doing the equivalent work of 700 full-time agents
• It is on par with human agents regarding customer satisfaction score
• It is more accurate in errand resolution, leading to a 25% drop in repeat inquiries
• Customers now resolve their errands in less than 2 mins compared to 11 mins previously
• It’s available in 23 markets, 24/7, and communicates in more than 35 languages
• It’s estimated to drive a $40 million USD in profit improvement to Klarna in 2024

Klarna has also seen a massive improvement in communication with local immigrant and expat communities across all our markets thanks to the language support. 

Available in the Klarna app, the assistant is designed to enhance the shopping and payment experience for Klarna’s 150 million consumers worldwide, capable of managing a range of tasks from multilingual customer service to managing refunds and returns, and fostering healthy financial habits. This launch marks a significant leap forward in Klarna's vision of a fully AI-powered financial assistant aimed at saving consumers time, worry and money, while making the global retail banking industry more efficient and consumer-focused. Exciting new features are already in the pipeline and will be added to the AI assistant soon. Additionally, customers can still choose to interact with live agents if they’d prefer.

"Klarna is at the very forefront among our partners in AI adoption and practical application,” said Brad Lightcap, COO of OpenAI. “Together we are unlocking the vast potential for AI to boost productivity and improve our day-to-day lives."

“This AI breakthrough in customer interaction means superior experiences for our customers at better prices, more interesting challenges for our employees, and better returns for our investors.” said Sebastian Siemiatkowski, co-founder and CEO of Klarna. “We are incredibly excited about this launch, but it also underscores the profound impact on society that AI will have. We want to reemphasize and encourage society and politicians to consider this carefully and believe a considerate, informed and steady stewardship will be critical to navigate through this transformation of our societies.

The following key features are currently available to consumers worldwide:

• A 24/7 customer service expert: Klarna's AI Assistant is a dependable, always available resource for all customer service needs. It proficiently handles a wide array of queries, including refunds, returns, payment-related issues, cancellations, disputes, and invoice inaccuracies, ensuring swift and effective solutions.
• Your personal financial assistant: Klarna's AI Assistant offers real-time updates on your outstanding balances and upcoming payment schedules, ensuring you never miss a Klarna payment. It also provides a clear understanding of your purchase power, explaining your spending limits and the reasons behind them, empowering you to make informed and confident shopping choices.
• Multilingual chat support: Do you speak Arabic? نعم بالطبع!  And how about French? Oui bien sûr, comment puis-je vous aider? Wherever you're from and whatever you speak, Klarna’s AI Assistant is always ready to chat in your mother tongue – adept at handling inquiries in over 35 languages.