Omnio, the Banking as a Service platform FinTech, has announced that its credit union business KESHO has agreed a partnership with Credit Kudos, an FCA-authorised challenger credit reference agency and Open Banking Account Information Service Provider (AISP). Through Credit Kudos’ direct connections to the UK’s largest banks - via Open Banking - the company helps lenders, brokers, and financial institutions make better and faster credit decisions based on real-time, detailed data and insights. The move yet again demonstrates Omnio KESHO’s commitment to its customers to provide meaningful analytics tools to the Credit Union sector.

The partnership between KESHO and Credit Kudos represents another important step on the roadmap to deliver better products and services to the Credit Union industry. By providing more data and analysis in real time to ensure that lending is fair and equitable, Credit Unions will now be able to lend money with improved insights and better risk management. These richer insights will enable Credit Unions to further protect themselves from economic shocks and deliver improved outcomes to their member base.

Credit Kudos is transforming the credit scoring system using Open Banking data to understand a borrower’s financial wellbeing and habits. By aggregating and interpreting a borrower’s transaction data, Credit Kudos helps lenders assess creditworthiness and therefore lend safely and responsibly. Its insights go beyond traditional credit scoring, transforming complex sets of data into an easy-to-use, comprehensive view of a borrower’s creditworthiness to help institutions responsibly increase loan acceptances and reduce the number of defaults.

Sheenagh Young, Chief Executive of South Manchester Credit Union, commented: “I am delighted to discover that Credit Kudos have now linked up with Omnio Kesho to widen access for credit unions to their services. We worked on a pilot with Freddy and Matt in their start up days and it has been fascinating to watch their vision - to use Open Banking data to support thoughtful lending decisions - become reality. These tools will equip credit unions to deepen our innovative digital approach to community lending.”

Lindsay Ward, Executive Director, KESHO Credit Union Sector, said: “One of the biggest challenges for our clients is how to mitigate the risk of lending. Although no decision will be truly risk-free, we will always strive to give our clients the tools to make the most informed decision possible. Thanks to our partnership with Credit Kudos, our clients now have a suite of data and analytics tools at their disposal to add another layer of confidence to their decisions, reducing exposure, whilst lending in a fair and equitable manner. This partnership is another significant measure to maintain Omnio KESHO’s position as the most innovative and influential Credit Union technology business in the UK and Ireland.”

Freddy Kelly, co-founder and CEO of Credit Kudos, added: “Our mission is to transform the credit reference system to provide fairer credit for all. I’m delighted to see the insights developed with Serve & Protect Credit Union as part of the HM Treasury backed Affordable Credit Challenge delivered at scale to other affordable credit providers. We are proud to be working with KESHO to continue to support Credit Unions to assess creditworthiness and help more people access responsible credit, when they need it. This partnership is an important step towards helping those often excluded from financial services have greater financial security in today’s uncertain climate.”

Data acquired by Wallter.com shows that the value of ATM withdrawals in the UK during Q2, 2020 was £22,086 million. Compared to a similar period last year, the value represents a drop of 46.7% when the number was £41,430 million.

Digital payment occupied the center stage

Overall, before the pandemic, the value of ATM withdrawals have been declining with the growth of digital payment options.

Since 2018, the ATM withdrawals under operator LINK has been declining significantly. In 2018 ATM cash withdrawals stood at £125.37 billion while in 2019, the number dropped by 7.14%.  By October the ATM withdrawals stood at £67.9 billion.  

The data shows that in the wake of the coronavirus pandemic, digital payment occupied the center stage. During Q2 2020, PayPal’s payment volume amounted to $221.7billion, a 29% year on year growth. PayPal’s subsidiary Venmo payment volume was $37 billion translating to a 52% year-on-year growth.

Elsewhere, during Q1 2020, payment facilitator Ayden processed volumes of €129.1 billion, a growth of 23% year-on-year. Zelle processed volumes of U$133 billion, which represents a  growth of 21% compared to the previous two quarters.

The research by Wallter.com explained the rise in digital payments amid dwindling ATM withdrawals values. The research report notes that: "Digital payments, e-commerce and on-demand economy platforms are the big winners of the pandemic. As an alternative to public transport, eating out, fetching groceries, going to the office and living in crowded cities, those who could, opted for apps that offer ride-hailing, food delivery, ordering groceries online, freelancing and finding a short-term rental on a lodging platform. Behind the scenes of all these e-commerce platforms are digital payments platforms that are being rapidly adopted by the late majority and even laggards.”

Read the full story with statistics here: https://www.wallter.com/post/cash-withdrawals-in-the-uk-fell-46-due-to-covid-19-does-this-signal-the-end-of-cash-2.

CloudMargin, creator of the world’s first and only collateral and margin management solution native to the cloud, has once again won the award for Best Buy-Side Collateral Management Tool at the 14^th annual Buy-Side Technology Awards, hosted by WatersTechnology in a virtual ceremony on Friday.  This marked the company’s fifth win in the category.

“CloudMargin has once again emerged top in the best buy-side collateral management tool category in the annual Buy-Side Technology Awards, its fifth win in the past six years in what has become a highly competitive category,” said Victor Anderson, global content director of WatersTechnology. “Key to the cloud-based platform’s success in this market is its outstanding multi-asset collateral and margin management functionality for cleared and non-cleared transactions, and its high-profile alliances with AcadiaSoft and IHS Markit, effectively endorsing the quality and accuracy of the CloudMargin collateral management framework.”

CloudMargin has become the only collateral and margin management solution adopted by the buy side, sell side and outsourcers to meet different challenges, including regulatory compliance and automation as well as access to critical market infrastructure and new technology. Through the firm’s strategic partnerships with AcadiaSoft and IHS Markit, CloudMargin now powers the collateral management solution for these major service providers. In addition, the firm last month announced a new partnership with Finastra, one of the world’s largest fintechs, to provide Collateral Management as a Service, powered by CloudMargin and available through Finastra’s FusionFabric.cloud platform. In September, CloudMargin announced a $15 million Series B funding round in which Deutsche Bank, Citi and Deutsche Börse were the primary investors.

CloudMargin CEO Stuart Connolly said: “We’re incredibly honoured to earn this prestigious recognition once again. We developed our cloud-based platform to meet the needs of buy-side firms and provide an efficient, cost-effective means of managing the critical collateral workflow and connecting to the various parties across the collateral workflow chain. While we have scaled the platform considerably and broadened our user base to include the sell-side and established important partnerships with major infrastructure providers, the buy side remains the leading beneficiary, with access to a Tier 1 platform available to all tiers of users. In this challenging year of the coronavirus pandemic, the industry recognises more than ever the value of a true cloud-based, Software-as-a-Service solution that is constantly enhanced and requires no maintenance or on-site deployment.”

The Buy-Side Technology Awards recognise the market-leading technologies and third-party vendors in their area of expertise, through an auditable, transparent methodology underpinned by the input and experience this year of nine judges, including five buy-side-focused technology consultants and four of WatersTechnology’s most experienced journalists. Criteria for selection of winners included innovation and addressing the buy side’s most pressing business, regulatory, operational and technology needs, as well as collaboration, regulatory compliance and managing the various risks and challenges buy-side firms face on a daily basis, while also allowing them to maximise their operational efficiency.

Banks would be well advised to adopt a holistic view of risk that ultimately benefits their bottom lines. That’s according to a new Thought Leadership article from Wolters Kluwer’s Finance, Risk & Regulatory Reporting (FRR) business published in association with Risk.net, the leading financial markets magazine that has been providing in-depth news and analysis on risk management and regulation since 1987.

“The year’s extraordinary events have upended the way risk management approaches are implemented among financial institutions. The Covid-19 pandemic has not only changed the nature of the risks investment banks must  steel themselves for, but also the operating environment for the enterprise itself,” says Jeroen Van Doorsselaere, Vice President of Global Product & Platform Management for Wolters Kluwer FRR and author of the article.

It is, in fact, critical for organizations to have a clear, measurable definition of their risk appetite, and to understand the interrelations between individual risk types and how they can improve their risk management processes in an operationally cost-efficient way. This begins with integrating audit, risk and compliance – each its own line of defense – into a more holistic process. This, in turn, benefits the business in a period of volatility and uncertainty, while maintaining a protective long-term strategy, Van Doorsselaere argues.

Most present-day enterprise-wide risk management frameworks are compartmentalized, driven by point solutions for the latest dictates from the Basel Committee on Banking Supervision or the International Organization of Securities Commissions, or newer market-specific regimes such as the Fundamental Review of the Trading Book, according to Wolters Kluwer FRR. As a result, they can be increasingly overwhelming to manage, incorporating market scenarios and reporting outputs based on fine-tuning inputs and stressors – such as a new yield curve, interest rate reduction or corporate action – while aiming to understand the specific potential for knockon effects or market contagion.

“The consequences of this approach are manifold. While regulatory reporting has attracted significantly greater investment, it is usually deployed to simply catch up to the next requirement and often siloed within a particular desk or business unit,” adds Van Doorsselaere. “A holistic enterprise-wide risk-management process, however, avoids this scenario. Risk management data platforms must be designed to facilitate collaboration among internal experts and external observers too. They are not just a place to store or process risk data, but a tool to make new risks more visible to a greater audience. If 2020 has taught us anything, it is that all eventualities are now on the table. Enterprise-wide risk management frameworks must evolve to embrace them.”

To help with such concerns banks are turning to OneSumX for FRR, Wolters Kluwer FRR’s best-in-class integrated regulatory compliance and reporting solution suite that establishes a single source of data for finance, risk and regulatory reporting that is enriched with value-added content from in-house experts. The OneSumX for Risk Management module empowers financial services firms to deliver processes, best practices, regulatory intelligence, and the analytics required of businesses in a highly regulated industry. OneSumX for Risk Management not only helps achieve regulatory compliance, but delivers superior business value, seamlessly combining Financial Risk Management with Regulatory Analytics across multiple Risk classes.

Wolters Kluwer FRR, which is part of Wolters Kluwer’s Governance, Risk & Compliance (GRC) division, is a global market leader in the provision of integrated regulatory compliance and reporting solutions. It supports regulated financial institutions in meeting their obligations to external regulators and their own board of directors.

Wolters Kluwer FRR receives frequent independent recognition of its excellence and innovation, celebrating a record year for award wins in 2019. Risk magazine recently awarded the company its coveted Regulatory Reporting System of The Year Award for the third year running and Wolters Kluwer FRR is the #1 provider in both Regulatory Reporting and Liquidity Risk according to the RiskTech100, as compiled by Chartis Research.

AccessFintech, a leading fintech company evolving the financial operating model through data and workflow collaboration, announces the launch of a new derivatives cash payments affirmation service, working with Goldman Sachs.

Goldman Sachs and AccessFintech developed the cross-industry service working with a major Tier 1 buy-side client to embed a process that allows for the real-time supervision and scrutiny of expected cash payments associated with derivatives trading.

Previously, derivative settlement processing has been operationally inefficient for buy-side clients and their brokers, with disputes often captured without sufficient time to resolve. Now, the ability to have a zero-touch settlement payment process with a digital workflow for collaborative dispute resolution, enables significant benefits.

Working with AccessFintech has enabled a zero-touch process through real-time settlement data sharing, systemic matching and a shared digital workflow. Buy-side and brokers both benefit from zero-touch processes, however, where breaks are identified, real-time dispute workflow and collaboration tools streamline the resolution process. This transformation enables joint focus on value-add activities; reducing repetitive manual processes and the need for outreach via email or phone to gather the latest status.

The introduction of this service focuses initially on Interest Rate Coupons & Cross-Currency Swaps, Credit and Equity Total Return Swaps with future expansion to other over the counter (OTC) derivatives, including CFD and Exchange Traded Equity Derivatives. A multi-bank Cash Payments Working Group, with Goldman Sachs’ support, recently launched to define the standards to deploy this across the industry.

Chris Daur, the Americas Client Coverage Group head for Goldman Sachs, commented: “It’s impactful to partner with our clients on joint transformations, addressing current process inefficiencies and creating material value. We look forward to future opportunities.”

Brian Steele, Global Head of Market Solution at Goldman Sachs, added: “We are excited about working with the Access Fintech team to launch this solution and create a common standard in this area. We think this will be of significant benefit to the industry.”

Roy Saadon, CEO of AccessFintech, added: “The derivatives market has historic inefficiencies and we believe this cash affirmation service has the ability to be a game changer and create a new standard for the industry. With the foresight, diligence and innovative approach of Goldman Sachs and their client, we are excited to have brought this service to market, for the benefit of the whole ecosystem.”

SIA's Board of Directors, meeting under the chairmanship of Federico Lovadina, approved the consolidated financial results as at 30 September 2020, substantially in line with those of the first nine months of 2019 and growing in the third quarter of 2020, despite the economic contraction caused by Covid-19.

CONSOLIDATED financial RESULTS AT 30 SEPTEMBER 2020

In the first nine months of 2020, SIA Group recorded consolidated revenues of €525.8 million, an increase of 0.5% YoY, entirely on an organic basis. Revenues maintain a geographical diversification in line with 2019 -about 70% in Italy and 30% abroad.

EBITDA is equal to €194.9 million, down 0.7% compared to the same period in the previous year with a37% EBITDA margin.

At the level of the market segments in which SIA Group operates, the following results were obtained as of 30 September 2020:

• Card & Merchant Solutions,representing 68% of the total revenues generated by the Group - approximately divided between 63% for activities related to issuing services and 37% for acquiring services- recorded revenues of €355.9 million, in line with the same period in 2019. In the third quarter, the segment benefited from significant growth in volumes and revenues (+2.1% YoY);
• Digital Payment Solutions, representing 20% of the Group's total revenues, recorded proceeds of €104.9 million, up 4.5% compared to the same period in 2019. The segment was positively impacted by the trend in volumes processed, which were not impacted by the economic contraction linked to Covid-19, in addition to Gateway services (+12% YoY) and Instant Payments (+9% YoY) and the acquisition of new customers both in Italy and abroad;
• Capital Market & Network Solutions, representing 12% of the Group's total revenues, recorded proceeds of €65 million, down 0.8% compared to the same period in 2019, due to the drop in Network services volumes processed (-3% YoY).

In the first nine months of 2020, costs amounted to €330.3 million, with an increase of 1.4% YoY due to higher personnel costs (+1.3% YoY) incurred for organic growth, the strengthening of the management team and higher operating costs (+1.5% YoY) related to regulatory compliance, the development of new technology platforms and, in general, increased processing capacity.

At 30 September 2020, Net Financial Debt was €716 million compared to €812.4 million at the end of 2019, a significant improvement thanks to cash generation during the period in question.

Despite the complexity of the current context, SIA Group can count on a diversified and resilient business model, thanks to 30% of revenues generated abroad and about 50% of total revenues associated with the installed base (number of POS terminals, number of managed cards etc.), fee-based services and development activities, therefore not directly impacted by the dynamics of volumes in the short term.

The Group's objective is to maintain the same level of revenues generated in 2019 through the realization of the strategic development and growth initiatives included in the Industrial Plan approved in February 2020. At the same time, the Group pursues the objective of mitigating the impact of Covid-19 on EBITDA and cash-flow through actions to contain all types of costs and the re-planning of less strategic projects and investments.

CONSOLIDATED financial RESULTS - THIRD QUARTER 2020

In the third quarter of 2020, SIA Group recorded revenues of €189.9 million, up 2.3% q/q, while EBITDA amounted to €81.1 million, with a 8.3% increase q/q.

At the level of the market segments in which SIA Group operates, the following results were obtained in the third quarter:

• Card & Merchant Solutions,recorded revenues of €133 million, up 2.1% compared to the same period in 2019, due to increased use of digital payment services;
• Digital Payment Solutions,recorded revenues of €34.8 million, with a 5% increase compared to the same period in 2019. This segment benefitted from the trend of the volumes processed, not impacted by the economic downturn caused by Covid-19;
• Capital Market & Network Solutions,recorded revenues of €22.2 million, down 0.7% compared to the same period in 2019, due to the drop in network services volumes managed.

In the third quarter of 2020, costs amounted to €108.5 million, down 2.2% q/qthanks to the continued efficiency measures put in place by the Group.

MAIN BUSINESS INITIATIVES LAUNCHED IN THE FIRST NINE MONTHS OF 2020

Card & Merchant Solutions

SIA was chosen by LBB Landesbank Berlin, the largest co-branded credit card issuer in Germany, to create a management platform for cards issued in collaboration with leading national business partners.

In Italy, SIA is also a partner of Flowe (Mediolanum Banking Group) for the development of digital banking services in the areas of e-money, payments, current accounts, loans and savings management, while in the area of smart mobility solutions, SIA has created the digital platform that allows passengers to pay for their traveltickets using contactless cards on Turin and Bari public transport services.

Digital Payment Solutions

In early 2020, SIA signed a partnership with Swedbank, the leading bank in Sweden, Estonia, Latvia and Lithuania, to enable instant payments byconnecting with EBA Clearing's pan-European RT1 system.

The Reserve Bank of New Zealand (RBNZ), New Zealand’s central bank, and SIA launched the new real-time settlement systems for large-value payments and securities transactions.

Capital Market & Network Solutions

SIA has launched the blockchain infrastructure enabling the "Spunta Banca DLT" application, the initiative promoted by ABI and coordinated by ABI Lab, which allows for the management of mutual accounts among Italian banks through the use of Distributed LedgerTechnology.

SIGNIFICANT EVENTS AFTER THE END OF THE THIRD QUARTER

On 4 October, SIA and Nexisigned a memorandum of understanding regarding the integration of the two groups through the merger by incorporation of SIA into Nexi.The transaction is subject to the satisfactory outcome of the mutual confirmatory due diligence on Nexi and SIA, to the necessary approvals of the corporate bodies of the parties involved in the transaction for the signing of binding agreements, to the absence of obligations to call a public tender offer on the shares of the new Group, as well as to the obtainment of the necessary consents and authorizations, both contractual and regulatory (including authorization by the relevant Antitrust Authorities and, where applicable, by the Bank of Italy). The completion of the transaction is expected by summer 2021.

SIA and Enel X Financial Services announced the signing of a strategic partnership for the design and implementation of new mobile banking solutions.

Prime Bank (www.Primebank.co.ke), a leading private bank in Kenya, has partnered with London-based FinTech SimbaPay (www.SimbaPay.com), to launch an instant international money transfer service via the bank’s digital platform PrimeMobi.

Through SimbaPay, Prime Bank customers will now be able to instantly and securely send money directly to bank accounts or mobile wallets across 15 countries in Africa, Europe, and Asia including India, United Kingdom, China (WeChat Pay), Germany, Uganda among others.

Commenting on the partnership, SimbaPay’s Head of Operations Victor Karanja noted that the service will provide a seamless platform for Prime Bank’s customer base to send money abroad at the click of a button.

“Businesses as well as Kenyans and expatriates with friends and family abroad send over $18 Billion to other African countries, Asia and Europe annually with several billion Kenya Shillings going through the Simbapay network. Therefore, this service will offer Prime Bank’s customers a world-class fully digital International Money Transfer service,” added Mr. Karanja.

Prime Bank’s Director for Business Development, Vijay Kantaria said the tier 2 lender has embarked on investment in technology through partnering with various FinTechs to accelerate its digital integration plan.

“Through our digital platforms, we aim to make available a one stop solution to our customers in terms of funds transfer and with the inclusion of SimbaPay, our customers will now send money to friends and family across the world at the comfort of their mobile phones,” added Mr. Kantaria.

To access the service, customers will need to login to the bank’s mobile banking app - PrimeMobi, then click on International Money Transfer icon on the homescreen. After confirming the amount to be sent, the sender’s bank account will be debited and money credited to the beneficiary instantly.

Transfers can also be sent from M-Pesa using a dedicated SimbaPay @ Prime Bank pay bill number.

Today, the Indonesia Stock Exchange (IDX) launched their Electronic Trading Platform (ETP) for secondary market trading of bonds and sukuk using AxeTrading’s AxeChange technology. The ETP is named Alternative Market Operator System (SPPA).

Indonesia is one of the largest EM bond markets in the region, valued at around USD 220 BN equivalent. To date, 18 of the 20 Primary Dealers for Government Bonds (SUN) have become SPPA users, along with a further three Indonesian bond market players who can start using SPPA as a bond and sukuk trading platform.

AxeTrading was chosen by IDX as the on-going technology partner for the platform, through a strict selection process over other global prospective partners, for its over 10 years of experience in electronic trading and its expertise in the fixed income market.

AxeChange is the software to power execution venues for fixed income products and enables the trading of government, corporate, sukuk and retail bonds across reserve and local currencies. To increase the size and number of market participants, drive interest from new debt issuers and to better meet growing local funding requirements, exchanges have to innovate their bond trading offering and effectively embrace both voice and electronic trading.

"SPPA has been designed in such a way as to accommodate the needs of the bond and sukuk market players in Indonesia, with the hope of increasing liquidity and efficiency of the Indonesian bond and sukuk market," said IDX Business Development Director Hasan Fawzi. “IDX is collaborating with global bond trading solution provider, AxeTrading, to develop SPPA so that the system we are developing is a system that is applicable according to best practices and is user-friendly," he concluded.

Ralf Henke, Chief Executive Officer of AxeTrading, said: “We are proud and delighted to be working with the Indonesia Stock Exchange as their technology partner to deliver this significant step in the development of the Indonesian bond and sukuk market using our AxeChange technology. Our AxeTrader Quoting and Execution Management System is the best gateway to this new trading platform. It gives dealers the tools they need to boost their trading with automated workflows to help them trade better and faster than ever before. AxeTrader gives seamless support for both voice trading and access to electronic trading in the Indonesia, Asian and global markets.”

AxeTrading does not compete with trading venues, but partners with them to deliver an efficient, effective and modern fixed income trading experience that enhances and develops their local bond markets to meet their commercial objectives and those set by governments, financial authorities, and bond market associations.

Working with International Finance Corporation, part of the World Bank Group, as a strategic partner, AxeTrading continues to accelerate the evolution of fixed income markets by delivering advanced technology for dealers and trading venues to broaden participation, which provides liquidity and market transparency.

The recently upgraded AxeTrader Quoting and Execution Management System (QEMS), interacts seamlessly across over 23 execution venues, including the new IDX ETP, and connects to 11 leading market data sources to provide fixed income dealers with market aggregation and trading workflows in a single desktop.

Finastra has established a new office space at Cyberport in Hong Kong as part of an evolution of its workplace strategy. This strategic move will place Finastra at the heart of Hong Kong’s fintech community, enabling it to build relationships with new and existing partners and facilitating innovative co-creation. 

Eric Duffaut, President and Global Head of Customer Operations, Finastra, said: “Cyberport brings together a growing community of fintech investors and startups. By placing ourselves at the heart of this community, we see an opportunity to further our relationships and invite more fintechs to co-create innovative solutions together with us and our growing ecosystem. As workplace flexibility is emerging as the new norm at Finastra and we ensure our facilities meet the needs of our people, customers, partners and our business as a whole, this space reflects our intention to empower our colleagues with the freedom to adapt their working environments to suit their individual requirements and personal working style.” 

“As the Hong Kong Government continues to place itself firmly on the global stage as a leading fintech hub, it’s great to see Finastra supporting the development of this industry in the region alongside Cyberport,” said Dr. George Lam, Chairman of Cyberport. “Finastra strives for promoting and facilitating fintech innovation and technology adoption in the financial services industry by collaboration with fintech start-ups. The Cyberport ecosystem is a key part of the government’s fintech strategy and offers the perfect ambience for Finastra to explore and seize opportunities with our 400 fintech start-ups which form the largest fintech cluster in town. I am looking forward to seeing Finastra bringing these innovative Cyberport start-ups to the international stage with its global network, and helping Hong Kong to strengthen its leading position in the fintech sector.” 

"Vista is thrilled to support Finastra's continued efforts to invest in the growing fintech sector across the Greater Bay Area and China more broadly,” said Robert F. Smith, Founder, Chairman & CEO of Vista Equity Partners, owners of Finastra. “We applaud the introduction of the Hong Kong Monetary Authority’s Open Banking API Framework as an outstanding example of the efforts being made by the Hong Kong Government to become a leading fintech hub in Asia. Vista looks forward to investing in digital transformation in the Greater Bay Area and supporting China as it opens its financial sector. We look forward to continuing to evolve and transform the financial sector out of Finastra's new home at the iconic Cyberport." 

Zumo, Scotland’s cryptocurrency wallet and payments platform, has grown its employee numbers again with the addition of four female appointments in key roles and a total of seven new team members, taking the team to 24 with recruiting still open for another five new roles. The most recent appointments come shortly after Zumo’s £1.6m Seedrs crowdfund, and the launch of their app’s cryptocurrency exchange functionality. Zumo plans to expand their services across Europe in 2021, and these new hires will play a pivotal role in their quest for global adoption.

“People are curious about bitcoin. As interest spreads, people are looking for good quality information on how to get started and be safe with Bitcoin,“ said Amelie Arras, Zumo’s new Marketing Director.

“Many believe that the world of digital assets is built by men for men, but this isn’t an exclusive boys’ club. Cryptocurrency is inclusive and promotes financial empowerment. It’s vital that future generations of girls - aspiring women leaders - see strong female role models in leadership positions as the norm in tech. Over 40% of Zumo’s staff are women, and we proudly take our place at the helm of the future of money,” comments Dagmara Aldridge, Zumo’s Chief Operating Officer.

Amelie Arras joins Zumo’s marketing department during an intense period of growth. She was recently celebrated in the Fintech Time’s ‘Rising Women in Crypto Power List’, but many know her as the first woman to travel the world using only Bitcoin. She’s seen first-hand the benefits cryptocurrency provides communities across the globe.

Piette Cyrus has been brought in to strengthen Zumo’s Compliance team as Compliance Associate. After qualifying as a lawyer in South Africa 8 years ago, she specialised in onboarding and compliance checks for prestigious international Fintech clients. Her most recent role was with Modulr as a Risk and Compliance Analyst. As part of a team that’s overseen over 55m transactions, worth over £40b, she brings a wealth of specialist experience to Zumo as the company seeks to set the industry standard for regulatory compliance.

Angela Stevenson is Zumo’s new Customer Support Manager. She’s an industry veteran with over 27 years of experience, a Six Sigma Green Belt, and has set up extremely efficient outsourcing solutions in Canada, Cyprus, India, and Romania. Angela is incredibly analytical and process driven, and dedicates her free time to coaching children from underprivileged backgrounds.

Dagmara joined Zumo in August as their first COO, bringing over 15 years of leadership experience across the payments, financial services and FinTech sectors. She was previously head of operations, change and delivery for CashFlows, and before that was in various leadership roles with Valitor, Travis Perkins and Barclaycard. She has a reputation for managing extremely complex operations, whilst selflessly organising charity events such as Zumo’s WasteAid Walk to Africa.

“What attracted me to Zumo is its simple, yet innovative non-custodial crypto wallet & payment platform, a team with a strong mission to democratise access to cryptocurrencies and a purpose-driven culture underpinned by a set of values that align with my personal principles,” adds Dagmara Aldridge, Zumo’s Chief Operating Officer.

Cryptocurrencies continue to gain traction with mainstream investors and consumers. Bitcoin recently rallied past £10k for the first time in years, and the digital currency continues to outperform the FTSE 100. 

“Zumo’s mission is to bring the benefits of cryptocurrency and the blockchain to everyone. We are entering a new digital era. As financial markets are clearly showing, cryptocurrency’s time has come,”  concludes Nick Jones, Zumo’s CEO and Co-Founder.