11:FS, the challenger firm defining and building truly digital financial services, today announced that it is continuing to strengthen its senior executive team, appointing Jo Wright as its Chief Financial Officer (CFO).

As the company continues its rapid expansion, adding new client projects across the globe and scaling its US operations, Jo will play a critical role in the firm’s international expansion.

Jo is a Chartered Accountant, who has held executive finance leadership roles in media, technology, fintech and e-commerce firms. She is also a Non-Executive Director and Chair of the Audit and Finance Committee at London & Partners, the international trade, investment and promotion agency for London.

“I’m excited to join 11:FS as it moves into its fourth year and continues its rapid expansion in London, New York and beyond,” said Wright. “The fintech and financial services market fascinates me, and I’m looking forward to working with the talented executive team that 11:FS has assembled and support them to deliver against the strategic vision for building truly digital financial services.”

Prior to 11:FS, Jo was the Interim Finance Director at London-based fintech Thought Machine and before that the Chief Finance Officer and executive board director of Auction Technology Group. Prior to those roles, she was the CFO of Nickelodeon UK. Jo has also held a number of senior financial positions at Sky across diverse areas including advertising, programming, marketing, digital and investments.

“I’m delighted Jo has joined 11:FS and cannot wait to see her impact on the firm. She brings a wealth of experience in transforming finance functions and ensuring they act as a collaborative business partner,” commented David M. Brear, Group CEO at 11:FS. “What really impressed me was her approach and attitude to finance that combines data-led insights and strong governance, while also ensuring the entrepreneurial culture we have at the firm can continue to thrive. As 11:FS continues to scale, Jo will play a crucial role in our mission to build truly digital financial services globally.”

Jo holds an honors degree from the University of Birmingham in Accounting and Commerce, and is a member of the Institute of Chartered Accountants England and Wales (ICAEW). 

Yooz, a leading provider of innovative, cloud-based AP automation, today announced that it has been selected as the winner of the “Best Procure-to-Pay Software” award for the third year in a row by FinTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies, and products in the global FinTech market today.

Yooz’s unique cloud-based invoice and payment processing (AP) automation solution leverages optical character recognition (OCR), artificial intelligence (AI), and robotics process automation (RPA) technologies to deliver an amazing level of automation with extreme simplicity, traceability, and security in a complete end-to-end purchasing and invoice processing solution that also improves fraud detection.

“The entire Yooz platform, business model, and business purpose is built on minimizing human intervention,” said Laurent Charpentier, COO and Chief Innovation Officer, Yooz. “In other words, the cloud-based system moves the document through the entire process with no human touching paper. Our goal is to empower our customers to focus on other critical areas of the business, like making more strategic decisions and improving supplier relationships.”  He goes on, “As we strive to provide the most innovative solutions to our customers, we are proud to once again be considered a “breakthrough” company.”

“Since Yooz was awarded back-to-back 2018 and 2019 FinTech Breakthrough Awards for ‘Best Procure-to-Pay Software,’ the company continues its impressive growth trajectory, propelled by innovative, emerging technologies like AI and machine learning to improve and enhance document classification, recognition, and fraud detection functionalities,” said James Johnson, Managing Director, FinTech Breakthrough. “While many companies find it difficult to continue to stay ahead of the curve, Yooz continually challenges themselves to continue to “break through” the FinTech space and we are excited to once again recognize the Company in our 2020 FinTech Breakthrough Awards program.”

The FinTech Breakthrough Awards is the premier awards program founded to recognize the FinTech innovators, leaders and visionaries from around the world in a range of categories, including Banking, Personal Finance, Lending, Payments, Investments, RegTech, InsurTech and many more. The 2020 FinTech Breakthrough Award program attracted more than 3,750 nominations from across the globe.

Temenos (SIX: TEMN), the banking software company, today announced that TAS Group, a global provider of digital payments software, has joined the Temenos MarketPlace. With the addition of CARD 3.0 IE, Temenos clients can leverage a flexible, modular and scalable card issuing, acquiring and processing platform that can be deployed either on-premise or on the cloud. Card 3.0 IE enables banks to intelligently manage the entire card and digital payments value chain, including physical and virtual card issuance, card & PIN production, transaction processing, Apple and Google payments and payment analytics.

The Temenos Marketplace mission is to help banks find and connect with innovative fintech solutions from around the world in order to better meet customer needs. Through this ecosystem of incubators, banks and fintechs, Temenos accelerates innovation by giving new fintech solutions the exposure they need to financial institutions of every size. The addition of this powerful end-to-end card payment platform to Temenos MarketPlace enables banks to deliver a complete digital and mobile payment user experience, whether they are a digital-first challenger looking for a swift and easy deployment and short time to market, or an established player seeking to embrace digital transformation and keep pace with customer expectations.

A rich set of advanced open APIs allows banks to swiftly design and configure new digital payments solutions, tailor new user experiences and create added-value solutions. CARD 3.0 IE leverages state-of-the art technology including modern features like mobile banking, multiple accounts, multi-currency, wallets, remote and more. On the acquiring side, CARD 3.0 IE enables banks to easily manage ATMs, EFT-POS terminals and ecommerce, as well as manage merchants, card fraud, and disputes.

Peter Caiazzi, Senior Vice President of Product Development, TAS Group said: “We are excited to join the Temenos MarketPlace community for fintech providers to help banks better serve their customers. By adding our flagship card and digital payments platform to their banking ecosystem, their clients have access to a comprehensive offering of integrated products and services “under one roof”. Having already integrated with Temenos Transact in several live installations around the world, we are really looking forward to building upon this excellent collaboration.  

“A major advantage of the Temenos Marketplace model and being integrated with Temenos Transact is that Card 3.0 IE can be implemented at an accelerated pace. This integrated, cloud-based approach creates a huge reduction in implementation, testing and maintenance effort and cost, especially when compared with outdated siloed legacy systems, and provides a more agile framework.”

Paul Roberts, MarketPlace Director, Temenos, added: “We continue to expand the diverse set of complementary solutions available on Temenos MarketPlace. Our clients can leverage over 60 solutions on Temenos MarketPlace to innovate, differentiate and maximize the value from their investment in Temenos Software. Cards is a key area for retail and SME banking, so we’re delighted to welcome TAS Group and its comprehensively featured card management platform to the Temenos community. With Card 3.0 IE, our clients and their card processes will benefit from the ability to quickly configure and release new products to market, while minimizing their total cost of ownership.”

phos today unveiled a pilot project with Mastercard, introducing an innovative mobile solution that enables merchants to accept contactless payments on Android mobile devices without the need for any additional hardware. Simple and effective, the solution will enable millions of micro, small and medium-sized enterprises (MSMEs) to accept cashless payments and grow their businesses.

Micro, small and medium-sized merchants are the backbone of the European economy. These small businesses traditionally accept cash only, a disadvantageous and insecure type of payment due to hidden costs and security issues. Together phos and Mastercard now provide an alternative solution for MSMEs enabling them to accept digital payments in a simple, effective and secure way.

“For businesses, no matter how big or small, their customers expect the ability to pay the way they want. Payment choice is now fundamental, and to date this has been a challenge for micro businesses. This solution by phos has been designed to meet the flexibility and cost requirements of small and micro business owners, by leveraging existing technology – their smart phone – to accept convenient and secure contactless payments.” Commented Scott Abrahams, Senior Vice President of business development and fintech for Mastercard in the UK.

“Traditional point of sale terminals may not always answer the specific needs of small and micro merchants and are therefore often out of their reach. With phos these businesses can now leverage their mobile devices to accept contactless payments. Including the financially underserved merchants in digital payments marks a great achievement for us as we strive to simplify financial services” says Antonina Martinova, the co-founder of phos.

The pilot project will rely on Paynetics, an e-money institution with license across the European Union, as the acquiring bank and is expected to last until April 2020. Partnering with approximately 200 merchants across the participating countries of the United Kingdom, Germany, Bulgaria and Romania will allow further refining of this innovative point of sale solution based on actual market conditions.

Phos is downloadable from the GooglePlay store and enables all Android devices to accept payments from contactless cards or other NFC-enabled devices such as smartphones, smartwatches or wristbands. In line with phos’ ease of use, merchants are verified in a fully digital due diligence process which follows both anti money laundering as well as other locally applicable regulations. Further emphasizing on the solution’s security, Mastercard certified phos via its Mastercard Digital Enablement Service as one of the first digital point of sale solutions for all Android devices.

• Exclusive research from Barclays Corporate Banking reveals the contrasting views of nearly 2,000 financial services leaders from across the globe on the key drivers of collaboration, innovation and cybersecurity
• More than two-thirds of businesses identify collaborating and partnering with FinTechs as the preferred approach for traditional banks in the future
• China will be king for innovation in the next five years, but India is still set to be a player
• Business approaches to cybersecurity are not robust according to more than half of all respondents

Key players in the financial services industry are set on a clear pathway towards collaboration, whether they like it or not, according to a new ‘State of the Industry’ report from Barclays Corporate Banking, An ecosystem in transition.

Exclusive research from the bank highlights the contrasting regional views on where innovation is most likely to come from in the next five years, as well as the vastly different approaches to cybersecurity taken by financial services operators from around the globe.

FinTechs and traditional players to join up

As the official insights partner of the Money 20/20 global conference series, Barclays conducted a survey of nearly 2,000 industry leaders from across financial services, at events in Europe, Asia and the US.

From these senior executives, Barclays Corporate Banking found that more than two-thirds (69 per cent) of businesses globally identify collaborating and partnering with FinTechs for mutual benefit as the preferred approach for traditional banks in the future, contrary to public perceptions which may still be that established financial institutions see FinTech as a threat.

This attitude is particularly strong in Europe (72 per cent), and the US (71 per cent), where the approach from established financial services players is changing towards a clearly stated desire to work together with FinTechs.

Where will innovation come from?

According to respondents, China is expected to see the biggest rise in payment innovation in the next five years, with 45 per cent of Asian firms ranking it as the most likely source of future innovation, along with 40 per cent of European firms. Even the US, which was the only region to select itself as the most obvious hotspot for future innovation (selected by 34 per cent of firms), ranked China as the second most probable source (chosen by 25 per cent).

While still in the shadow of China, India ranks in the top three as a future source of payment innovation across all three regions, with 21 per cent voting for it in Asia, 12 per cent in Europe and a further 10 per cent in the US.

Muted confidence on cybersecurity

Global attitudes towards cybersecurity also emerged as an area of focus at Money 20/20. Over half (53 per cent) of all professionals surveyed identified that their companies did not have a robust approach to cybersecurity – yet only 23 per cent of respondents felt that investing further in this area should be a priority. More than a quarter (27 per cent) of respondents also felt that their firms could be doing more to educate colleagues on cybersecurity.

Financial services firms in Asia were the least confident when it came to approaching the issue, with only 37 per cent expressing confidence in their own cybersecurity defences (compared to 54 per cent in Europe and 47 per cent in the US). However, they were also leading global efforts to enhance cybersecurity protections – with over a third (35 per cent) of respondents in Asia seeking to increase education on cybersecurity, and one in four (26 per cent) looking to enhance their investment in this area.

Phil Bowkley, Global Head of Financial Institutions Group, Barclays Corporate Banking, said: “Our research results reveal the wide range of global trends currently developing within financial services, centred on the idea of transition. As traditional banks look set to collaborate with FinTechs for mutual benefit, and innovation continues to be driven from locations dispersed all over the world, what is clear is that in this fast moving environment successful business models will need to adapt rapidly and reflect regional sentiment and opportunities.  Our dedicated global fintech team are ready to embrace this increasingly well-connected ecosystem, and help our clients succeed.”

Barclays Corporate Banking ‘State of the Industry’ report, An ecosystem in transition, can be found in full at: www.barclayscorporate.com/insights/international-insights/future-of-fintech/

Nets, a leading player in the European payments industry, today announces its acquisition of Polskie ePłatności (“PeP”), a leading Polish merchant acquirer with an installed base of more than 125,000 point-of-sales terminals, offering a broad set of payment solutions for SME merchants.

The transaction values PeP’s Enterprise Value at EUR 405 million.

With this acquisition, Nets further strengthens its presence in Poland – one of the most attractive geographies in Europe given its low card penetration and double-digit growth in card usage, driven by the conversion from cash to card payments. This development is further supported by state initiatives promoting in-store electronic payment solutions.

Bo Nilsson, CEO of the Nets Group, says: “PeP is the fastest growing payment technology company in one of the fastest growing digital payment economies in Europe, and we have been impressed by the PeP-team, their high-quality in-house operation and business performance. This acquisition follows our recent acquisition of Dotpay/eCard and the strategic alliance with Przelewy24, both of which are strong in e-commerce. With PeP’s strength with SME merchants on card acceptance and point-of-sales terminals, this deal has a convincing strategic fit, completing our offering to merchants in Poland.”

Jaroslaw Mikos, CEO of PeP, comments: “We are excited to become part of a leading European player like the Nets Group. It will support our strong growth trajectory by strengthening our offerings across the merchant service value chain. Together, we can use our combined local capabilities and experience for the benefit of our customers.”

Krzysztof Kulig, Senior Partner at Innova Capital, says: “With Nets’ acquisition of PeP, we are proving our ability to build successful companies in the financial services industry. PeP is Innova’s fifth successful transaction in the payment technology space, and during our ownership the company has grown extremely fast, becoming a leading Polish merchant acquirer. We believe that PeP will realise its significant potential in this dynamic industry as part of the Nets Group.”

PeP has more than 600 employees and expects net revenues of around EUR 55 million in 2020.

The acquisition is subject to approval by the respective authorities, and closing is expected to be within the third quarter of 2020.

R3, the enterprise blockchain software firm, has appointed former IBM and Amazon Web Services executive, Dorothy Copeland, as Global Head of Partner Ecosystem & Alliances.

Dorothy joins R3 following a tenure at IBM where she was responsible for ecosystem partner sales, programs, and business development. At IBM, Dorothy led the company’s partner business function across the areas of software, cloud, systems and services for over 80,000 solution providers, ISVs, MSPs, cloud providers, channel resellers, distributors and digital marketplaces. Dorothy was also a member of the IBM Acceleration Team, an internal board of top-performing IBM executives.

Prior to her role at IBM, Dorothy held senior positions at Amazon Web Services (AWS) where she built the company’s global ecosystem programs from the ground-up. At AWS, she created the industry’s first IaaS-focused channel, MSP and Competency programs, growing AWS’ ecosystem from a standing start to a multibillion-dollar business, across tens of thousands of partners around the world.

Dorothy’s appointment to R3 further develops the firm’s worldwide partner sales and ecosystem programs throughout key vertical market industries.

Dorothy Copeland, said: “I’m delighted to join R3 to drive the significant opportunity in the market for R3’s partner ecosystem. R3 has differentiated itself as the clear leader in enterprise blockchain platforms, which have the potential to transform industries around the world. R3’s technology is well positioned for partners to build robust enterprise blockchain solutions, providing business outcomes across a wide variety of use cases. The opportunity for R3 is similar to the early stages of cloud when I joined AWS in early 2010 to build out their thriving ecosystem.”

Cathy Minter, Chief Revenue Officer, R3 said: “R3 is committed to supporting our ecosystem partners and Dorothy will lead our engagement. She joins at an important juncture for R3, as we move on our work establishing Corda Enterprise as the go-to technology for the enterprise space, deepening our relations with our partners. Dorothy brings a world class experience of growing and developing partnership programs on evolving technology platforms. We’re delighted to have her on the team as we take this next important step in our development.”