To better serve investors around the world with a new enriched investor communications and governance solution experience, global Fintech leader Broadridge Financial Solutions, Inc., today announced the international launch of its next-gen digital communications platform, the Broadridge Communications CloudSM. The end-to-end platform enables financial intermediaries to deliver transformational service levels by providing investors with enhanced customer experiences (CX) and data-centric insights while reducing costs.

“As the world continues to shift to digital and more personalized communications, investors are demanding the same type of experience, access, and instant service from their financial service providers,” said Demi Derem, Senior Vice President of International Investor Communications, Digital Transformation & Market Innovation, Broadridge. “Today’s launch underscores our strategic commitment to drive the evolution of investor communications, improving the digital communications and investor stewardship experience, enhancing distribution, and strengthening customer engagement around the world.”

The Communications Cloud is a best-in-class platform that creates, delivers, and manages an extensive range of essential communications such as confirmations, statements, corporate actions, proxies and prospectuses. By facilitating bidirectional communications and delivering next-generation personalized and contextualized experiences, firms can now increase investor engagement, operational efficiencies, and digital adoption.

With more than 50% of financial services firms citing digital transformation as the most important strategic initiative according to the 2023 Digital Transformation and Next-Gen Tech Study, the platform – which already handles billions of digital communications annually across hundreds of clients in North America - is positioned to help accelerate the global digitization of the investor services industry.

Broadridge’s strength in digital platforms for regulatory investor communications was most recently recognized by the Everest Group, which named Broadridge as a Leader in its Digital Experience Platforms in Asset and Wealth Management Products PEAK Matrix® Assessment 2023.  Broadridge received a top rating for value delivered and technology capability.

Sitting at the centre of a network that connects hundreds of broker-dealers and wealth managers, thousands of public companies, tens of thousands of funds, and more than 100 million individual investors, Broadridge’s solutions empower intermediaries and investors as they look to engage in the market, participate in the governance process, and enable better financial lives. Globally, Broadridge supports clients in over 100 markets.

MiFinity will be attending iFX EXPO International 2023 in Limassol, Cyprus. The B2B event will be held between the 19th and 21st of September at the City of Dreams Mediterranean Integrated Resort. iFX EXPO is one of the largest Forex B2B exhibitions in the world, known to cultivate an environment of innovation, education and networking in the fintech sphere. 

With over 4,000 expected attendees, the event serves as a fantastic venue for financial professionals, potential partners and industry leaders to meet and foster lasting connections.

MiFinity looks forward to welcoming guests at Booth 26. Join us to explore how MiFinity's advanced payment solutions can support your business success. 

MiFinity is a leading provider of payment solutions that cater to businesses in multiple industries. With extensive experience in digital payments and an expanding network of global partners, the company has developed a deep understanding of helping Forex merchants optimise their customer experience and payment journey.

Attendees should ask the MiFinity team about its PayAnyBank and PayAnyCard services, which provide seamless and cost-effective ways to transfer funds. PayAnyBank offers fast international bank transfers across different industries, with settlement in local currencies for high and low transaction volumes. MiFinity's PayAnyCard service supports transferring funds to VISA, MasterCard and UnionPay for merchants that need a highly effective and cost-effective method to process withdrawals to their customers.

In addition, you will also find it useful to ask our team about the MiFinity iFrame and see how it can easily integrate into your cashier, enabling customers to transfer funds from their existing eWallet balance or via card payments or other local payment options from within your site.

The MiFinity eWallet is the foundation of its core services, facilitating global money transfers through its banking network and local payment options. The market-leading MiFinity eWallet is available to customers in over 225 countries and territories and has over 75 integrated payment methods available, offering customers a choice of 17 native currencies and 21 languages in the MiFinity app and desktop experience. In addition, the digital wallet is available to use as a payment method for 650+ live brands, providing more choices than ever to its customers.

MiFinity also offers customers an eVoucher to deposit funds in their online accounts or load their eWallet. MiFinity vouchers are the perfect safe and secure solution to top up a MiFinity eWallet account, without the use of bank, credit or debit cards. 

MiFinity also launched the most competitive affiliate programme in the industry in July 2022 – MiFinity Affiliates. MiFinity’s affiliate programme pays the highest revenue commission in the industry – of up to 35%, with commissions paid on all transfers to and FX fees. MiFinity has invested significantly in its enterprise affiliate platform to help affiliate partners manage their programmes, track conversions and access 100% accurate and on-time payments. 

We look forward to meeting you on the MiFinity Booth 26 any time during iFX EXPO, and the team will be happy to answer any questions and discuss the range of business solutions we offer.

INSTANDA, the global provider of no-code insurance platform technology, has appointed Kevin Gaut as its new Chief Technology Officer (CTO). With over 25 years in senior technology leadership roles spanning UK, US and Asia across both Insurance and Financial Services, most recently as Chief Technology Officer (CTO) at Finova and previously at SSP and Legal & General, Kevin brings a wealth of expertise and experience to INSTANDA.

In his capacity as CTO, he will drive the platform and ecosystem strategy for the Group, leverage the INSTANDA future-proofed architecture for client value and seek to shift industry opinion around value drivers of no-code over low-code.  Kevin's primary responsibilities will include working closely with existing and prospective clients to identify new and exciting growth opportunities within the insurance technology market using the INSTANDA platform.   In collaboration with INSTANDA’s Co-founder and CEO, Tim Hardcastle and the rest of the Senior Management Team, he will ensure the INSTANDA platform remains at the forefront of insurance evolution by leveraging investments already made in embedded insurance propositions, building ecosystems and real-time data insights.

Kevin’s appointment as CTO marks an exciting chapter in INSTANDA's journey of transforming the insurance industry. With his strategic outlook and exceptional leadership, Kevin will work with his team to continue to find ways to transform the way insurers operate, enabling them to respond swiftly to market demands, and elevate their customer experience to new heights.

The appointment of Kevin Gaut comes one year after INSTANDA announced its $45m fundraising deal led by Toscafund, a European growth equity investment firm for financial services companies.

Commenting on his appointment, Kevin Gaut said:

“Often the phrases no-code and low-code are used interchangeably, but in my experience the two are very different, low-code you are still in the world of IT change, however, with INSTANDA we have a truly no-code solution, the business are in total control. I am excited to join INSTANDA and become part of a company known for its innovation and commitment to transforming the insurance industry. INSTANDA’s no-code platform is proven to enable insurers embracing digital transformation and delivering exceptional customer experiences. I look forward to leading the team, driving change that will continue to revolutionise the way insurers innovate and interact with their clients – ultimately creating better outcomes for all.”

Tim Hardcastle, CEO and Co-Founder of INSTANDA added:

"We are delighted to welcome Kevin as our new CTO. His extensive experience and proven track record in driving innovation make him the ideal leader to enhance our platform and create even more value for our clients. With Kevin's strategic vision and expertise, we are well-positioned to accelerate our growth plans and continue to empower and enable insurers from across the globe to create positive change for their businesses and end customers."

TS Imagine, a leading global cross-asset provider of trading, portfolio, and risk management solutions for financial services organizations, is excited to unveil a strategic partnership with eflow, a prominent provider of regulatory compliance solutions for the industry.

The partnership represents a significant step forward in TS Imagine's commitment to enhancing its offerings for clients, bringing trade surveillance capabilities into its existing suite of execution, order, and portfolio management solutions. The strategic collaboration will allow mutual clients of TS Imagine and eflow to not only meet regulatory requirements, but also proactively safeguard against market abuse and effectively monitor communications.

TS Imagine's TradeSmart OEMS product will highly benefit from the partnership, enabling seamless integration with eflow's solutions across all asset classes, resulting in a comprehensive and streamlined workflow. 

Alex Carteau, head of corporate development at TS Imagine, says, "eflow's reputation for innovation aligns with TS Imagine's commitment to delivering cutting-edge technology and solutions to our clients. This partnership bolsters our ability to provide a wide range of surveillance and market abuse tools, enabling clients to monitor their trading behavior throughout the day”.

Ben Parker, CEO and founder of eflow, says, “In today's fast-paced world, with constantly evolving regulatory landscapes and shifting customer demands, investing in compliance and regulatory technology is essential for financial services organizations. We at eflow look forward to working with TS Imagine as they continue to fulfill their commitment to clients”. 

Recently, eflow's position in the market has been elevated, with recognition as one of the top 100 Most Innovative Companies in the field by Reg Tech 100.

TS Imagine's TradeSmart platform is recognized for its comprehensive connectivity, featuring pre-certified connections to over 250 listed brokers and venues, in addition to broker algos. This robust network provides significant value for clients, enabling them to access a broad spectrum of trading opportunities and liquidity sources.

Chetwood Financial has announced Ian Lonergan as its new group chair.

Founded in 2016, Wrexham-based Chetwood Financial is a digital bank that has four consumer products – LiveLend, BetterBorrow, SmartSave and Wave – and is soon to launch ModaMortgages, a new specialist buy-to-let (BTL) mortgage lender.

Lonergan has worked in financial services for over 30 years. He was previously the CEO and founder of Precise Mortgages, which grew to be one of the largest BTL and residential specialist mortgage lenders in the UK.

The parent company of Precise Mortgages and Charter Savings Bank, Charter Court Financial Services, where Lonergan was CEO, became a bank in 2015 and listed on the FTSE 250 in 2017.  

Lonergan, who has also held roles at GMAC, AMP and Ernst & Young, has been working with Chetwood on ModaMortgages since 2021, playing an instrumental role in the strategy, design and launch of the new mortgage business.

Now as Chetwood’s group chair, Lonergan will provide effective leadership of the company’s board. His other principal responsibilities include offering strong strategic oversight for Chetwood’s growth, supporting and challenging managers within the business, and bringing forward new proposals to ensure Chetwood continues as a progressive force in the way it delivers financial products and services in a complex, fast-changing environment.

Lonergan said: “I am delighted to take up this new role. Working on the ModaMortgages proposition behind the scenes over the past two years, I have seen first-hand that Chetwood is absolutely committed to finding smarter, faster and simpler ways to help people financially. The upcoming launch of ModaMortgages is very exciting, but across the board, Chetwood is delivering products that truly stand out in a financial services sector that can often be slow and inflexible. I’m looking forward to helping guide the company as it continues on its disruptive path.”

Chetwood’s founder and CEO, Andy Mielczarek, added: “Ian has already played a fundamental part in shaping ModaMortgages, the new BTL lending proposition that we’re excited to bring to market in the coming months. We’re really pleased to now have him as our group chair – he brings an immense amount of financial services experience and knows how to help companies scale at pace while offering an exceptional customer experience. Ian will undoubtedly help Chetwood forge new ground and accelerate our mission to find better ways to deliver financial products.”

Spotware and Skale are delighted to announce an enhanced integration, with a Single Sign-On option for clients using Spotware’s flagship cTrader trading platform and Skale’s enterprise-grade CRM and client portal.

This latest development marks a major milestone for both companies and a new era of cTrader x Skale by delivering a seamless union of platforms. It builds on a strong partnership between the two firms since their initial platform integration in 2020, providing even greater benefits and an enhanced user experience for brokers.

Spotware’s cTrader is an Open trading platform, appreciated by 4 million+ traders worldwide. The product is a complete turnkey broker solution for forex and CFD services, available on desktop, web and mobile applications. 

Skale is one of the FX industry’s leading CRM software providers. Its platform has been designed to empower high-volume, multi-brand brokers and has multi-jurisdictional capabilities to suit different compliance requirements.  Skale’s solution includes tools for fully-customisable back-office management, as well as advanced KYC, marketing and business intelligence tools, a multi-layered IB portal and a fully-customisable traders’ area. It enhances efficiencies by managing workflows for sales, retention and marketing teams and also streamlines onboarding and KYC.

One of the key aspects of the upgraded integration is that the Skale’s client portal is available for cTrader Web, Desktop and Mobile (Android and iOS) applications. Traders can register, perform KYC, and deposit and withdraw directly from the app without the need to login separately or to leave the trading platform. This facilitates greater conversion rates and better retention rates experience.

With Single Sign-On, broker clients only need to undergo registration once in order to use both the cTrader platform and the Skale CRM and client portal. A single email and password can be used to access both, excluding all potential authorization issues. All client accounts are also connected to one email, eliminating confusion. Additionally, traders will benefit from a more swift deposit and withdrawal process, which won’t require them leaving the cTrader trading platform. 

Ilia Iarovitcyn, CEO of Spotware, comments: “We couldn’t be happier about the upgraded integration of cTrader and Skale CRM with SSO from the box. For new broker clients, SSO will make the registration process far easier and swifter, while existing clients will benefit from the improvement of their daily processes of authorization, deposit and withdrawal. Broker partners will also benefit from SSO as it makes the acquisition and attribution process more clear, fast and efficient. New users get attributed from the first click on a link to a copy strategy, algorithm or forex signal. All in all, we look forward to a continued prosperous union with Skale ahead, as it will benefit all players in the cTrader ecosystem ”

David Nussbaum, Founder & CEO, Skale adds, “We are thrilled to have extended our partnership with Spotware. This is a powerful collaboration for both companies, with tangible benefits for our brokers. Our combined platform, cTrader x Skale, provides brokers with a complete solution for clients, whether trading on desktops, laptops or mobiles. Converting mobile traffic is key for broker growth and we believe that the Skale client portal embedded in cTrader’s native mobile trading app will open up significant opportunities for brokers looking to scale their business.”

HSBC today announces the launch of a market-leading digital solution which allows business and corporate customers to open accounts for multiple business entities in multiple markets, all in one place.

Using a dedicated portal, the streamlined digital application process is fast, simple, and globally consistent, regardless of the market or markets where accounts are being opened.

The unique account opening portal can be accessed online and brings together application forms, secure document exchange functionality, online tracking and eSignature capabilities, making international account opening a seamless experience. At present it is available in the following markets:

David Rice, Commercial Banking Chief Operating Officer at HSBC, said: “Helping businesses operate seamlessly, transact and grow across borders is core to HSBC’s purpose. This service will radically simplify the processes behind this ambition and eliminate long-standing pain points for internationally-minded businesses looking to expand overseas.

“Digital account opening which is standardised by format, process and requirements, significantly improves on an industry-standard characterised as slow, paper-based and inconsistent.”

The digital account opening portal supports both primary and subsidiary accounts. Customers using the portal will also benefit from direct support tools including local language, AI-powered Virtual Assistants; and in-platform communication with local case managers. The service allows for tracking of applications and offers transparent and consistent support throughout the account opening process.

The digital account opening portal will be available in Hong Kong, Bahrain, Kuwait and Qatar in Q4 and additional markets in 2024.

Europe’s leading provider of digital trade credit solutions, Hokodo, has partnered with AI-powered transaction analytics firm, Fuse, to enhance its credit offering to businesses in the UK.

The partnership empowers businesses to access more personalised credit options by combining Fuse’s credit risk and Income Verification tools with Hokodo’s B2B lending capabilities.

Using Fuse’s tools, Hokodo offers finance options to businesses that were previously excluded from credit such as sole traders, who are often not scored by traditional credit bureaus and therefore struggle to access credit. The latest figures from the ONS indicate that there are more than three million sole traders operating in the UK alone, highlighting the scale of the micro-business finance market.

By utilising customer income verification via Fuse’s innovative tools, Hokodo has streamlined the process for existing customers to expand credit lines by analysing repayment patterns on previous loans.

With the cost of doing business increasing over the last 12 months, many organisations have struggled with economic challenges from rising energy costs to spiking salary demands. As a result, business appetite for credit to boost competitiveness and fuel growth has increased sharply.

Recent figures from the Federation of Small Businesses suggest that demand for business finance is set to increase with 81% of finance brokers expecting a rise in demand over the next six months. However, 84% also said that high street banks were reluctant to lend to SMEs.  

Hokodo recently became the first B2B BNPL provider with a full European payments licence after the acquisition of a Lithuanian payments business. This is a vital step in Hokodo’s journey to improve B2B payment options across Europe. Hokodo is now available in seven of Europe’s largest markets with expansion fuelled by last year’s $40m fundraise to enable one million businesses to access a better way to pay by 2025.

Over the past several months, the B2B lender has announced a number of key partnerships including collaborations with BNP Paribas, Citi and leading payment service providers Mangopay and Lemonway.

Hokodo is the latest lender to partner with Fuse to enhance its credit decision-making. Other partners include education lender, Knoma, which selected Fuse as its Open Banking partner.

Using insights formed through the analysis of Open Banking data, Fuse provides lenders with 97% accuracy for transaction enrichment, providing clearer insights into affordability, reduced rate of defaulted loans, and improvements to borrower outcomes.

Sho Sugihara, CEO and Co-Founder of Fuse, comments: “Hokodo is shaking-up the B2B payments space and providing businesses with alternative credit options and we’re proud to support this mission to improve the business finance market. By utilising AI transaction analytics, Hokodo can now unlock access to additional funding streams for thousands of businesses, as well as support groups such as sole traders who are typically excluded from mainstream credit options.

“By improving decision-making and offering more personalised credit products with lower risk of defaults, Hokodo can provide the financial support needed for businesses looking to kickstart their growth by utilising their innovative BNPL product.”

Nicolas Rabinovitch, Director of Data Science & Fraud at Hokodo, says: “Fuse provides us with the Open Banking data we need to make better risk decisions, offer credit to more buyers and understand buyer behaviour in a B2B context. We are now offering sole traders another path to get approved, and Fuse is helping to support these risk decisions. Ultimately, this empowers a greater number of small and micro businesses to access the credit they deserve.”

Fuse is the latest product from credit builder app, Pave. Since launch, Pave has analysed more than 150,000 lending decisions, 1.5 million consumer credit reports, and over 400 million Open Banking transactions. Pave seeks to bring more financial equality to millions across the UK. As a fully regulated credit builder, receiving nearly half a million downloads to date, Pave utilises Open Banking transactions to help consumers build better access to credit.

Fuse was also recently selected for the Mastercard Start Path Open Banking programme, an award-winning, global startup engagement programme. This will provide Fuse with the opportunity to access hands-on mentoring through Mastercard’s global network to accelerate and scale its solutions to meet long-term growth plans.

Gatehouse Bank, the Shariah-compliant challenger bank, has today released new research demonstrating that the UK’s money mindset is shifting towards saving.

The research looked at UK adults’ attitudes to money, assessing the key factors that influence them, why they look to save or spend their money and what might cause a shift in this mindset.

Gatehouse Bank found that over a third (34%) of UK adults naturally consider themselves a saver rather than a spender, with 44% of savers stating that they viewed saving as an essential outgoing of equivalent importance to their home finance or rent payments. Furthermore, the UK’s focus on saving is increasing, with 1 in 10 adults (11%) saying that they had shifted their mindset in the last 12 months to adopt a greater focus on saving due to the current economic climate.

The research shows a promising shift towards a saving mindset, especially considering the data shows that a third (33%) of UK adults have less than £1,000 in savings, however over half (59%) of respondents aim to save more on a monthly basis.

Ravi Kumar, Senior Product Manager at Gatehouse Bank, commented:

“The research shows a promising rise in the number of UK adults who class themselves as savers, demonstrating that people are actively shifting their mindset, which is really positive.

“In the current high-rate environment, it’s important to continue setting savings goals and putting away some money every month. Even a small amount will ultimately add up and doing so is also important for creating a healthy savings habit.

“We encourage everyone to build this habit and are looking to launch a Regular Saver product later this year to further help our customers achieve their goals.”

Brite Payments, a leader in instant bank payments and one of Sweden’s fastest-growing fintechs, today announced that it has partnered with Auctionet to provide its users with seamless, instant account-to-account (A2A) payments.  

Founded in Sweden in 2011, Auctionet has grown to become a leading digital auction platform, with more than two million items sold through its digital marketplace. More than 65 local auction houses – primarily Swedish but with a growing number of auction houses throughout Europe – use Auctionet’s platform to reach global buyers bidding for art, furniture, design items, antiques, and collectables. Through its cooperation with Brite, Auctionet can respond to evolving customer expectations around payments and the growing popularity of mobile bidding, while addressing its own need for more efficient payment processes. 

Brite Instant Payments enables instant A2A payments for Auctionet through Europe’s open banking infrastructure. In 2022, Brite introduced ‘Single Sign’, which allows users to pay straight from their bank account with only one authentication step. The mobile-friendly solution has been shown to help users pay up to 40 per cent faster than standard A2A payment flows. Auctionet also benefits from automatic payments reconciliation provided by Brite, which reduces manual back-office processes.  

“Making sure that our marketplace is efficient, safe, and streamlined is critical to delivering first-class customer experience. We work hard to guarantee quality items, as well as a secure and transparent buying process,” said Niklas Söderholm, Founder & CEO, Auctionet. “With Brite Instant Payments we can extend this customer experience focus to the payment process, with a fast, secure, and convenient way for buyers to complete their purchases following a successful bid.”

Online auction platforms have surged in popularity over the past few years. The transition to digital platforms during the pandemic has been one driver, but the growing spending power of millennials is also a major factor. Now primarily aged 30-40, millennials make up a growing proportion of auction buyers and are comfortable with the digital platforms offered by the likes of Auctionet. With the ability to bring local auction houses to global buyers, the online auction marketplace is projected to grow at 11.45% CAGR through until 2027, reaching more than USD $11 billion.   

“We believe that instant bank payments not only give Auctionet’s buyers a seamless way to pay, but also address some of the long-standing payment problems faced by online marketplaces. In particular, the high and unpredictable fees associated with card payments, and the risk of chargebacks and fraud,” said Lena Hackelöer, Founder & CEO, Brite Payments. “Plus, with our ever-expanding network of instant payments coverage, we are well positioned to support Auctionet as it extends its reach in a growing number of markets across Europe.”