Published
- 02:00 am

FNZ, the global platform-as-a-service provider, has secured an investment from Temasek, a global investment company headquartered in Singapore.
FNZ, which specialises in wealth management technology and serves many of the world’s largest financial services companies, will benefit in particular from Temasek’s significant presence and experience in Asia as it looks to grow its business in the region over the coming years.
Temasek joins existing investors Caisse de dépôt et placement du Québec (CDPQ) and Generation Investment Management LLP (Generation), who acquired a majority stake in FNZ in October 2018, in a deal that valued the company at nearly £1.7 billion.
This was the first investment from the CDPQ-Generation partnership, who came together to make large-scale, long-term sustainable investments.
Adrian Durham, Founder and Chief Executive of FNZ Group said:
Temasek’s investment in FNZ adds a further high profile investor and will enhance our reach into Asian markets. We look forward to exploring opportunities to work together to broaden our customer base in Asia and beyond.
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- 01:00 am

SteelEye, the compliance technology and data analytics firm, has raised $10m in Series A funding in a round led by the FinTech Strategic Investments team at Eight Roads, the proprietary investment firm backed by Fidelity, alongside existing investor Illuminate Financial. This takes the total amount raised by SteelEye to $20m to date.
SteelEye was established in October 2017 to reduce the complexity and cost of compliance and to enable financial firms globally to manage their regulatory obligations through a single platform.
SteelEye’s ability to bring together, cleanse, index and analyse data has resulted in the company already gaining over fifty clients across seven countries. To date, SteelEye has launched solutions for record keeping, trade reconstruction, transaction reporting, trade and communications surveillance, best execution reporting, transaction cost analysis and advanced analytics for regulations including MiFID II, EMIR, Dodd-Frank, SMCR and MAR.
Following the introduction of these significant regulatory frameworks, authorised firms globally have come under increased pressure to store and reproduce their data, actively monitor their operations and report on financial dealings. However, due to the number of different mandates and the silo nature of most financial systems and platforms, many firms have struggled with their growing compliance requirements and costs have increased year-on-year.
SteelEye was designed to address these challenges and help firms to comply smarter. Further, by enabling firms to instantly query and analyse any dataset within the platform, SteelEye transforms how they interact and use their financial and regulatory information. This has traditionally been difficult to do on a consolidated basis and represents a considerable opportunity for firms to gain a truer understanding of their business, make better decisions and ultimately improve their performance.
“SteelEye’s innovative data and RegTech platform is successfully helping financial firms manage their increasingly complex compliance obligations,” said Alokik Advani, Managing Director, FinTech Strategic Investments at Eight Roads. “SteelEye has achieved considerable momentum in the market, demonstrating significant demand for its services. We are delighted to partner with SteelEye to boost their growth and we look forward to reinforcing their efforts.”
Matt Smith, CEO of SteelEye, added: “Data accuracy has been one of the biggest challenges facing firms’ following regulations such as MiFID II. By solving the data problem first, our clients not only save cost and free up time but gain unparalleled insight into their business and commercial operations. Eight Roads shares our ‘data first’ vision and will be instrumental in helping us grow our business.”
“We are very excited to welcome Eight Roads in as an investor in SteelEye, bringing with them significant experience and distribution potential for the SteelEye products,” said Mark Beeston, Managing Partner and Founder of Illuminate Financial Management. “Since we invested in SteelEye’s late seed round, they have continued to fit perfectly in Illuminate’s Enterprise FinTech focused portfolio, providing a centralised and infinitely scalable data solution for financial institutions. When a client’s data is all in one place, SteelEye’s ability to deploy new RegTech or business intelligence modules, either homegrown or via partnerships, is very powerful.”
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- 09:00 am

Barclays, which processes nearly half of the UK’s debit and credit card transactions, has signed a new, multi-year partnership with long-standing partner Visa. The European agreement, which recognises the unique position Barclays has in the market, is designed to drive innovation and product development as well as facilitate international expansion.
At the same time, it will assist Visa to develop industry-leading, cutting edge product innovations and deploy them at scale across the Barclays Payments network. Visa’s reach will also help drive Barclays’ processing business internationally.
The scale of the partnership, and the commitment to innovation, will help Barclays and Visa to develop market leading propositions while also maintaining reassuring security checks and balances.
Ashok Vaswani, Global Head of Consumer Banking and Payments at Barclays, said:
“This is a landmark partnership for Barclays which will ultimately benefit merchants and consumers. We have enjoyed a successful partnership with Visa for 50 years and over that time we have never stopped innovating. Our continuing partnership will enable us to jointly invest in developing faster and smoother payments to benefit merchants and consumers.
“We process nearly half of the UK’s debit and credit card transactions, which reflects Barclays position in the marketplace. Partnerships such as this enable us to continue to commit investment to developing new payment solutions that benefit all of our customers.”
Charlotte Hogg, Chief Executive Officer, Europe at Visa, said:
“Barclays has been one of Visa’s most important partners in Europe for many years and this new partnership will see us extending our partnership again, enabling Barclays to invest in new and innovative digital capabilities. We’re really excited about this agreement and the opportunities it will create for our businesses to collaborate on developing compelling payment experiences to consumers and merchants.”
Barclays has a longstanding relationship of more than 50 years with Visa. Barclays was the first business to launch a credit card with Visa in the UK in 1966. Barclays and Visa have also partnered on other innovations, including the launch of contactless payments and wearables in the UK and the roll out of ‘touch and go’ payments across the Transport for London Network.
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- 01:00 am

Yolt Technology Services (YTS), Europe’s leading open banking third party provider, is urging the industry to do more to promote the consumer benefits of Open Banking and the revised Payments Services Directive (PSD2), to support growth in the Fintech sector.
PSD2 was introduced back in January 2018 and the Regulatory Technical Standards (RTS) came into effect in September 2019. The EU directive has created far-reaching impact on banks, various payment service providers, online merchants and third-party providers - particularly in relation to new requirements around strong customer authentication and the introduction of open banking.
At its heart, PSD2 was implemented to foster competition and innovation within the market – aiding the introduction and growth of new tools and services for customers seeking new and innovative ways to engage with their finances. The legislation also aims to improve the transparency across the European payments market – as well as increase the security of digital payments and transactions for consumers.
Research by YTS has revealed that even after PSD2 came into full effect on 14th September 2019, businesses and banks have failed to communicate the importance of the changes and 97% of consumers are still unaware of the purpose of the legislation. The vast majority (90%) of consumers agree that online banking services and other money management apps have made it easier to manage their finances. Despite this, industry players have largely failed to communicate to their customers how new legislation has opened the door to a new world of financial tools.
Previous attempts to reach out, engage and educate consumers have had limited success. Just 55% of consumers can recall having been contacted by their bank about the recent PSD2 changes and, of those, just 28% understood why they were contacted. Through customer emails and in-app notifications, banks have gone some way to boost consumer awareness, but it’s clear that the industry must go further to ensure consumers understand PSD2.
Research from Yolt Technology Services found that 65% of UK consumers hold accounts with more than one bank/building society, demonstrating that there exists a clear majority who could benefit from account aggregation and other innovative services enabled by Open Banking.
Leon Muis, Chief Business Officer at Yolt Technology Services, commented:
“Continued innovation in the financial services landscape relies, to some extent on consumer awareness. It’s concerning that so many people are unaware of the opportunities provided by Open Banking and PSD2 – despite these directives being implemented to improve the financial products and services available for consumers in the first place. “Open Banking and API connections have given rise to a new world of financial tools, but all of us in the industry have a role to play in promoting the benefits of these new initiatives - educating both business and consumers on how these legislations will impact them now and in the future. A rising tide of engagement and awareness would ultimately benefit both consumers and the industry.”
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- 01:00 am

Plato Partnership, the not-for-profit company bringing real innovation to today’s European equites marketplace, is excited to announce that T. Rowe Price, Allianz Global Investors, Schroders, Credit Suisse International and Exane BNP Paribas are now members of the Partnership.
As five of the leading players in the modern equities marketplace, the participation of these new joiners marks the end of a milestone year for Plato Partnership. In 2019, Plato forged new partnerships with two best-in-class data providers, BMLL Technologies and Babelfish Analytics, and brought AIR Summit to London, a unique annual conference connecting the European buyside with cutting-edge players in Alphatech from across the globe.
Plato will carry this momentum into 2020 as they continue their mission to bring improved market structure and greater efficiency to the European marketplace through collaboration, discussion and transparency.
Members of Plato Partnership commit their time and expertise to driving forward Plato initiatives.
Plato Partnership’s ongoing development is driven by three key working groups: the Turquoise Plato Expert Group, Market Innovator (MI3), and the Plato Strategic Initiatives Group. All members are dedicated to supporting one of these groups.
Mike Bellaro, CEO, Plato Partnership, said: “Today we welcome five of the world’s most respected firms to our Partnership, from both the buy-side and sell-side. Their participation in helping us realise our vision for improved market practices across Europe marks a huge milestone for Plato. We will now take the momentum built in 2019 through into this year, as we continue to work towards a better marketplace for all participants and end investors alike.”
“Plato Partnership is committed to giving back to the marketplace, providing both a forum and the necessary tools for all market participants to enhance their performance. The launch of Platometrics last year helped to provide a clearer view of market trends across regulatory boundaries, free of charge, while our Plato ClarityReveal, in collaboration with Babelfish, will inject much needed innovation into the European trade routing space when it goes live later this year.”
Jeremy Ellis, T. Rowe Price International Ltd, said: “T. Rowe Price International is excited to now be a part of Plato Partnership. We have always prioritised the development of improved trade execution as well as identifying new sources of liquidity from a diverse list of participants. We are confident that the forum for market collaboration enabled by Plato and its partners will bolster and boost our own processes while allowing us to contribute positively to discussions in the wider marketplace.”
Eric Boess, Allianz Global Investors, said: “We are delighted to join Plato Partnership and collaborate on its projects to build a better financial ecosystem. Allianz Global Investors shares Plato’s values and vision on the actions that need to be taken to make today’s equity market as efficient and innovative as possible.”
Gregg Dalley, Schroders, said: “Schroders is looking forward to working with Plato Partnership, alongside fellow asset managers and broker dealers. We have no doubt that, through this collaboration, we can help enhance European equities markets and improve the trading experience for the benefit of all market participants, on both buy and sell-side.”
Irina Sonich-Bright, Credit Suisse International, said: “Credit Suisse International is pleased to announce that it has joined the Plato Partnership and looks forward to engaging in the range of 2020 initiatives that will hopefully bring effective innovations to the European market.”
Thomas Bourgeois, Exane BNP Paribas, said: “In joining the Plato Partnership, Exane believes that the community of buy- and sell-side firms will allow us to better understand the challenges we face across the equities marketplace. We hope that the experience and expertise we bring to the table will allow us to contribute to Plato’s research and development so that we can play a part in improving the market for the whole industry.”
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- 06:00 am

Temenos (SIX: TEMN), the banking software company, today announced it has been included in the FTSE4Good Index Series, created by the global index provider FTSE Russell. Inclusion in the FTSE4Good Index Series denotes Temenos’ strong Environmental, Social and Governance (ESG) practices, which form part of its wider strategy to promote a culture of sustainability, responsibility and ethics across the business and its operations.
The FTSE4Good indices are used by a wide variety of market participants to create and assess responsible investment funds and other products. FTSE Russell evaluations are based on a company’s ESG-related performance in the areas of anti-corruption, climate change, corporate governance, human rights and community, labor standards and tax transparency. To achieve constituent status, Temenos underwent independent assessment according to the FTSE4Good criteria.
Alongside the FTSE4Good Index Series, Temenos has also qualified for inclusion in the Sustainability Yearbook 2020, published by S&P Global in collaboration with RobecoSAM. The Yearbook showcases the world’s best performing companies among industry peers and in terms of financially material ESG metrics.
Inclusion in the Yearbook signifies that Temenos’ corporate sustainability performance ranks in the top 15% of businesses in the software industry. The announcement follows the news that Temenos ranked in the top 10% of world leaders and fifth out of global software leaders for overall sustainability in the 2019 Dow Jones Sustainability World Index.
Max Chuard, CEO, Temenos, commented: “We are thrilled to be included in the FTSE4Good Index Series and the Sustainability Yearbook 2020, published by S&P Global in collaboration with RobecoSAM. Temenos is relentlessly focused on operating sustainably, ethically and responsibly – this is a key pillar of our culture and the very foundation on which we conduct our business. It is also the reason we continue to benchmark our corporate social responsibility (CSR) initiatives against the highest industry standards and why we invest our technology, expertise and resources into making positive, measurable contributions to protect the environment and improve people’s lives.”
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- 03:00 am

World Finance, the voice of the market magazine, awarded ICS Financial Systems Limited (ICSFS)’ Managing Director; Robert Hazboun, in its World Finance Winter 2020 edition, as one of its World Finance 100 individuals and business in financial services that have outstanding enterprise and kept pushing their industries forward.
The individuals and organizations acknowledged by the World Finance 100 have been recognised for their ability to lead their respective industries even in unfavourable conditions.
The WF100 Awards now in its 11th year, celebrates those who have reached the pinnacle of achievement across a wide variety of fields of expertise, as well as those organisations and individuals that lead the way in driving their industries forward. Each year World Finance compiles the list of 100 individuals and companies – not according to capitalisation figures, but purely on excellence in their field. The list presents the new business elite, made up of those whose vision and enterprise shapes the conceptual landscape of finance, business and technology. The WF100 Research and Due-diligence Teams appraises the invaluable nominations, suggestions and contributions of WORLD FINANCE readership and media partners to unearth the best and the brightest pioneers in business today.
Investment Consultant & Awards Administrator at World Finance Magazine; Mustapha Belkouche, stated:
“Mr Robert Hazboun, Managing Director of ICS Financial Systems, has been admitted to the 2019 WF100 for business leadership and exceptional vision. He has demonstrated outstanding enterprise and entrepreneurial flair that created a stimulating and supportive work environment for his staff which resulted in a well-motivated, ambitious and integrated workforce. His corporate dexterity and detail-orientated client relations have delivered bespoke FinTech solutions and forged new global standards making a significant positive impact on investors and customers. Mr Robert Hazboun's forward-thinking approach to the progress of banking & finance around the world has really pushed the envelope with both poise in continuous innovative strategy and commitment to client satisfaction.”
Managing Director of ICS Financial Systems; Robert Hazboun, commented;
“I am truly humbled and honoured to be acknowledged amongst the 2019 WF100. I would like to share this with ICSFS’ community; our employees and customers. This recognition would not have been possible without their collaboration, their support and encouragement that led us to our success today. ”
ICSFS invests in its software suites by utilising modern technology in launching new products, constructing a secured and agile integration, and keeping pace with new standards and regulations worldwide. ICS BANKS software suites future-proof banking activities by providing a broad range of features and capabilities with more agility and flexibility, to enrich customers' journey experience, hence improving the trust and confidentiality between the customer and the bank. ICS BANKS has always been a pioneer in utilising the latest technology to serve financial institutions. In addition to its embedded Service-Oriented-Architecture (SOA), the system can be deployed on-premises or in the cloud.
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