Vision Blue, the leading provider of compliant software solutions for the Credit and Debt Recovery sectors, has acquired Cardiff-based fast growth fintech company SamePage Group, a pioneer in fully-digital Loan Origination software platforms, for an undisclosed sum.

The acquisition of SamePage by Vision Blue comes after the success of a recent strategic partnership which saw both companies deliver a full lifecycle Loan Origination and Account Management System (LMS) for the Green Deal Finance Company (GDFC).

Since it was established in 2017, SamePage has quickly made a name for its dynamic, cloud-deployed loan origination platform which is transforming the consumer lending journey and delivering significant improvements in the financial services sector.

The addition of SamePage to the Vision Blue portfolio gives the Dublin-based company access to an experienced team of financial services experts and best-of-breed technology, which will enable it to deliver superior lending solutions and consultancy services to the lending market both within the UK, Europe and overseas.

Colin Brown, Managing Director at Vision Blue said; “Lenders are increasingly transitioning from cumbersome and inflexible legacy lending platforms to newly developed digital cloud-based solutions utilising current technologies and methodologies.

“SamePage’s entirely digital application and loan management solution enables customers to quickly deploy and easily maintain their lending products and processes whilst adapting and meeting regulatory requirements.

“The addition of SamePage to the Vision Blue portfolio now sets a new benchmark for ease of use, flexibility and rapid deployment.

“This is a really exciting acquisition for us, expanding our market reach and giving us immediate access to proven technology and market experts to deliver clients a leading end to end loan management platform.”

SamePage will continue to be based in Cardiff and will expand their current business and technical resources to build on the success of the business.

Robert Evans, Product Director at SamePage added; “We are delighted to be joining the Vision Blue team; doing so will enable us to strengthen our products, services and team while leveraging substantial business and technical resources already available within the group. Ultimately, we are all about delivering value to our customers and being part of Vision Blue significantly improves our ability to do just that.”

This is the latest deal by Vision Blue, who invested in Canada-based UBERbase in December 2018, as part of plans to become a leading international software provider.

Greenaway Scott acted for SamePage in the deal, while Eversheds (Cardiff) acted for Vision Blue.

Standard Chartered announced the expansion of Straight2Bank Pay, its award-winning digital collections gateway for corporate clients, to additional markets in Asia to further support its clients’ growing e-Commerce and m-Commerce aspirations.

AIDA Technologies, the AI and predictive analytics provider, today announces that Mastercard, Kuok Ventures and SGInnovate have invested in the company in a Series A funding round.

Money may be recognised as a universal language, but new research has found seven in 10 Brits (70 per cent) aren’t sure what the different slang terms for it actually mean. The research from money-sharing app Pingit revealed a further 59 per cent become confused over the denomination each slang term refers to, perhaps thanks to the more than 80 different words used to describe currency.

The most recognisable slang words regularly spoken across the nation are ‘notes’ (51 per cent), ‘dosh’ (48 per cent), and ‘coin’ (47 per cent), whilst weird and wonderful phrases like ‘spondulixs’ (reasonable amount of money) (16 per cent), ‘Lady Godiva’ (fiver) (11 per cent), and ‘Arthur Ashe’ (cash) (9 per cent) were the terms the public recognised, but were least likely to use.

Of the words that leave us feeling confused, ‘rhino’ tops the list with nearly half (49 per cent) stating they are in the dark by its meaning. This is followed by ‘Pavarotti’ (49 per cent), and ‘marigold’ (48 per cent).

How our ‘change’ is changing

Nearly half (47 per cent) of Brits think the language of money is evolving, with 28 per cent agreeing that as new words for money are created, historical or traditional words fall by the wayside. Where once varying food vocabulary was used as slang for money, it’s no picnic trying to understand these now as over two-thirds (68 per cent) of us haven’t heard of the terms ‘cheddar’, ‘bacon’ (60 per cent) and ‘biscuits’ (74 per cent).

Three in ten (30 per cent) people also believe the evolution of money and payments over the past 10 years has impacted the words they use every day, for example, when they speak about ‘tapping’ for payment or ‘pinging over’ money. The changing of the linguistic guard also looks set to continue as 41 per cent believe we will have different words for money and payments in 20 years’ time as technology continues to evolve.

There’s a time and a place

As technology brings new words in, older words are falling out of favour with younger age groups, with ‘tuppence’ used by 54 per cent of people aged over 55 compared to just 16 per cent of 18-24-year olds. Three in ten (31 per cent) people within the younger generation deem phrases such as ‘writing a cheque’ or ‘swipe your card’ as old-fashioned, compared to just two in ten (19 per cent) amongst all age groups.

Brits also use different slang terms by region. Whilst ‘notes’, ‘coin’ and ‘dosh’ are used across the nation, local favourites unique to each area include ‘bob’ (42 per cent) in Yorkshire, ‘tuppence’ (41 per cent) in the South West, ‘wedge’ (39 per cent) in London, ‘bucks’ (35 per cent) in Scotland and ‘copper’ (35 per cent) in East Anglia.

A tricky topic

Despite the many words for money, the research showed that 66 per cent of us don’t like talking about it and a further 45 per cent find the process awkward. However, more than half of Brits (54 per cent) say using slang words for money makes them feel more confident when discussing dosh.

To help Brits clue up on the language of lolly, Pingit has teamed up with lexicographer Susie Dent, known for hosting Dictionary Corner on Channel 4’s Countdown, to aid the public in deciphering their ‘monkeys’ from their ‘moolah’.

Susie Dent said: “New technology has certainly accelerated the speed at which slang moves on – and slang was already the fastest-moving area of language. Slang has different functions: many of the words we use are playful and a lot are tribal; we speak the same way as the groups we are part of. A great deal are also euphemistic, so it’s no surprise that a third of us are perplexed by their meanings and origins. Almost half the adult population finds discussing the subject of money difficult. Slang words help us to navigate these conversations by making us feel more comfortable and confident.”

The most confusing slang words for money:

1. Rhino (chosen by 49 per cent of Brits) -  No one knows for sure where this 400-year-old term for money comes from. Some people link it to the value of rhino horn or the idea of paying through the nose (rhinoceros is from the Greek for ‘nose-horn’). Perhaps the arrival of the first rhino in Britain suggested the sense of something valuable.
2. Pavarotti (49 per cent) - Slang for a ten-pound note or tenner, this is a pun on the name of the famous ‘tenor’ Luciano Pavarotti.
3. Marigold (48 per cent) - Until the 19th century, coins rather than notes were the norm, and their colour spawned a number of terms. Gold for example gave us the terms ‘gingerbread’, ‘yellow boys’ ‘canaries’, and ‘goldfinch’. ‘Marigold’ once denoted any golden coin, but it is now more specifically used for the sum of one million pounds.
4. Commodore (48 per cent) - The result of a complicated and clever bit of rhyming wordplay for £15. Cockney rhyming slang for a fiver is a ‘Lady Godiva’, and the group the Commodores are best-known for their song ‘Three Times A Lady’.
5. Biscuits (47 per cent) - An extension of the popular slang link between money and food, ‘biscuits’ joins bread, dough, cake, sugar, potatoes, and many other foodstuffs in the money lexicon, which are seen as either the staples or the sweeteners of life.
6. Cabbage (47 per cent) - The colour of money, originating from the United States, has also created a host of slang terms. The term ‘greenback’ quickly emerged after the creation of the dollar bill by Abraham Lincoln, and a number of green vegetables followed in its wake, such as ‘kale’, ‘lettuce’, and ‘cabbage’. ‘Cabbage’ had in fact already been used by London tailors in the 17th century for pieces of material pinched from a job and sold for a profit.
7. Beehive (47 per cent) - Rhyming slang for five; hence a five-pound note.
8. Sir Isaac (46 per cent) – Sir Isaac Newton was the face of the old one-pound note before it went out of circulation.
9. Archer (46 per cent) – A reference to the libel case involving the novelist Jeffrey Archer. The term is slang for the sum of £2,000, a reference to the amount that Archer allegedly offered as a bribe which was the basis of the case.
10. Darwin (45 per cent) – A ten-pound note, which features the face of Charles Darwin.

Darren Foulds, Managing Director of Pingit, said: “From the moment it was introduced, money created social relationships – from bartering with one another in ancient times to transferring funds amongst friends and businesses in modern day. It’s no surprise, then, that we’ve developed a rich vocabulary to make our conversations more light-hearted and fun. Whether we discuss the ‘dosh’, nag about the ‘notes’ or ask a pal to ‘ping it over’, one thing is clear: as long as money and payments evolve, the language we use around it will continue to develop in weird and wonderful ways.”

The findings were released by Pingit, an app that facilitates easy peer-to-peer payments with just a mobile number. For more information visit www.pingit.com or download the app.

Fintech solution provider, Path Solutions, today announced that it has successfully deployed and tested its latest iMAL R14.1 technology on Azure, Microsoft’s trusted and intelligent cloud. Currently used by over 100 Islamic banks, iMAL is a multi-award-winning core banking and investment platform. With iMAL now running on Azure, local banks and financial institutions will experience the many benefits of cloud computing, including increased security, flexibility, mobility and insight.

“In the financial services industry, Microsoft Azure has a strong track record of optimizing customer experiences, risk management and agility”, says Mohammed Kateeb, Group Chairman and CEO of Path Solutions. “In many ways, it complements and enhances iMAL’s value offering, which is to drive productivity, customer-centricity and regulatory compliance, all while lowering costs and risks”.

He adds: “We selected Azure because it reduces our customers’ hardware and maintenance loads, cutting infrastructure costs even further. In addition, Azure’s intelligence features enable increased quality control and data-driven insights – giving our customers an added competitive advantage”.

With the fourth industrial revolution in motion, banks are under increasing pressure to digitally transform – both to keep up with customer expectations and competition. More connected devices and services, and a rise in cybercrime, also means banks are obligated to ensure privacy, retain data ownership and control, and conform to transparency and compliance requirements.

“Organizations today need to be thoroughly invested in their security strategies. iMAL, powered by Azure, simplifies the process for our customers and gives them a trusted solution, which incorporates robust security features such as access monitoring and data encryption”, concludes Kateeb.

For more information on Microsoft Azure for financial services, visit:

https://azure.microsoft.com/en-us/industries/financial/

Senior claims officers from two leading insurance carriers, USAA and Esurance, will participate in a live, free webinar, hosted by Insurance Nexus, on the transformative effect of Connected Claims. These leading executives will explore how they expect the new era of connected claims to deliver unprecedented business efficiency and superior customer experience.

Our research has revealed that carriers are already on the path towards the ‘organization-wide’ approach to Connected Claims transformation. Keeping the process of innovation on track means drilling down into what will have the biggest impact on both customer experience – the ultimate point of competitive differentiation – and business efficiency. The strong focus on three or four core elements of that process, notably IT, Analytics, AI and Machine Learning, shows that carriers are committed to creating solid foundations on which to build for the future.

The impact Claims has on customer experience is going to be critical for insurers trying to create or maintain competitive advantage. In June, leading figures from the sector will come together in Chicago to reveal how they plan to unleash the power of Connected Claims in their organisations. As part of the lead up to Connected Claims USA, Sean Burgess (Chief Claims Officer, USAA) and Eric Brandt (Chief Customer Advocate,  Esurance) will share a sneak peek of the most exciting two-day summit in the claims industry in an exclusive webinar with Insurance Nexus on Wednesday, April 17^th at 10:30am, CT.

This webinar will give you the insights you need to improve operational efficiency and customer service and create a competitive advantage, including:

• Achieve seamless experience: Hear about the strategies and tools that Sean Burgess (Chief Claims Officer, USAA) uses to exceed customer expectations
• Succeed in the age of customer: Get exclusive insights from Eric Brandt (Chief Customer Advocate at Esurance) on how to drive a customer-obsessed culture to make the experience of buying, owning and using insurance surprisingly painless
• Automatically turn data to action: Discover how to use advanced analytics and real-time data to dramatically improve customer experience and reduce costs.

Join the live, free webinar: “The Future of Connected Claims” on April 17th at 10:30 am CT

This webinar is being run in conjunction with Insurance Nexus’ upcoming Third Annual Connected Claims USA Summit 2019, taking place June 5th-6th, at the Marriott Marquis Chicago Hotel, Chicago. Welcoming over 1000 senior attendees, Connected Claims USA is the world’s largest gathering for claims executives striving for efficient, customer-centric claims processing. More information can be found on the website at https://events.insurancenexus.com/connectedclaimsusa/

Register for the webinar here. If you are unable to join live, continue with registration and you will be sent your own copy of the recording, post-broadcast.

Mariana Dumont

Head of USA Operations

Insurance Nexus Phone: +44 (0) 207 422 4369

Toll Free: 1 800 814 3459 Ext: 4369

Email: mariana.dumont@insurancenexus.com

Insurance Nexus is part of FC Business Intelligence Ltd. FC Business Intelligence Ltd is a registered company in England and Wales. Registered number 04388971, 7-9 Fashion Street, London, E1 6PX, UK

Insurance Nexus is the central hub for insurance executives. Through in-depth industry analysis, targeted research, niche events and quality content, we provide the industry with a platform to network, discuss, learn and shape the future of the insurance industry.

Portabl, the insurtech startup designed for freelance, gig and self-employed workers around the world, has been picked by the Plug and Play innovation platform to join its Insurtech Batch of innovative companies.

The accelerator identifies high-potential startups and supports their growth and success through introductions to mentors, potential business partners and investors.

Portabl is designed to provide a new wave of insurance, benefits and savings products for the fast-growing number of freelance, gig and self-employed workers around the world.

As well as working status, Portabl takes into account individual's' life stage; their family situation and their industry sector to provide the best portfolio of portable insurance and financial services, plus a wide range of benefits to enhance their personal and working lives, all for an easy-to-manage monthly fee.

Mike Minett, Founder and CEO, Portabl, says: “Joining Plug and Play’s Insurtech Batch is an incredible opportunity to accelerate our launch plans. Millions of freelance, gig and self-employed workers are being left uninsured and unprotected because they don’t have access to the flexible, affordable range of services they need and deserve.

“We’re building a new, global community of people who relish the freedom and variety that the new working world offers, but who don’t want to have their health or wealth compromised by leaving behind the financial and benefits support systems of the traditional corporate world.

“Portabl is going to tap into the massive pool of talented men and women who are consulting, self-employed, freelance or gig economy workers who need insurance and benefits that are fit for purpose for this new world of work.”

Plug and Play selects the most innovative startups through a rigorous process where short-listed companies are invited to pitch to over 75 corporate partners. These partners then vote on which startups they believe should join the program. 35 companies were selected for this sixth Insurtech batch. Throughout the three-month program, startups connect to Plug and Play’s global ecosystem, collaborating with corporate partners and attending deal flow sessions, networking events, business development matchmaking and mentor sessions.

Global payments experts Renovite Technologies has appointed Rod Bungey as sales director for its cloud-native testing solution Reno-Test in North America, significantly strengthening the company’s position in the software testing market across the region.

Rod brings a wealth of sales and technical knowledge to Renovite Technologies, whose global headquarters are in California. He has 30-years’ global experience in the payments industry, adding specialised knowledge of consumer and wholesale payments, back-office and risk management from both a European and North American perspective to Renovite’s growing team of industry heavyweights.

Mr Bungey’s professional experience includes working with ACI Worldwide for over 25 years and with NCR where he was the sales director of card and digital payments from 2014 until joining Renovite.

He said: “North America offers a lot of potential given the adoption of new payment services like real-time payments, P2P payments, and other innovations in the financial services sector. Renovite’s cloud-native end-to-end testing solution Reno-Test offers businesses a competitive advantage you don’t see elsewhere and will enable them to get new products to market quickly and stay one step ahead of the competition.”

Commenting on the appointment, Jim Tomaney, chief operating officer at Renovite Technologies, said:

“We are making big waves in the payments market by delivering a new generation of cloud-native technology to banks and financial organisations worldwide. Testing plays a central role in that, allowing customers to innovate and deploy new consumer services a rate that cannot be replicated by organisations using legacy infrastructure. We are delighted to have Rod onboard, he has a very strong track record and will enable us to further penetrate the North American market.”

We are excited to announce that SWIFT and SEPA withdrawals and deposits  have already been implemented and fully functional in the Exscudo  Channels App. The function is available worldwide with the exception of the US and select countries. Thanks to the SEPA and SWIFT support our customers are able to top up their Channels balance by making a bank transfer in Euro, USD or any other fiat currency. The feature allows  users to hold fiat funds in a secure application as well as transfer fiat to channels and easily purchase cryptocurrency right from the app. Currencies, currently supported for purchase in Channels are: EON, TUSD, OMG, LTC, DASH, QTUM, ZEC, CTKT, EURT, USDT, XMR and EUR.

Exscudo aims to give its customers the ability to store their wealth in the most advanced financial system up-to-date. This can be done with a simple SEPA or SWIFT transfer from the user’s bank account to the Channels App. Then you can keep your money safely inside the Channels mobile wallet, protected by the power of a blockchain.

The system allows users to hold their assets in any currency they would like, be it digital or traditional, while retaining the ability to spend their funds at any traditional retailer. Users can not only hold and send funds, but also exchange currencies directly within the app. Thus exscudo clients are able to enjoy the level of privacy and security provided only by the blockchain technology and cryptocurrencies while retaining all financial flexibility in the way to spend or manage their funds.

The company plans to further enhance the Channels functionality by issuing its own banking cards which will deliver the highest cashback of  up to 10 percent on select offers and allow to make payments with any  currency at any retailer in the world and addition new currencies available for direct exchange in the app.

Being developed by an innovative company Exscudo, Channels is aimed to not only create a more technologically advanced and reliable alternative to traditional banking, but also develop a new-generation financial management ecosystem with unrivaled levels of security and privacy that  will be accessible to anybody, thanks to it’s free core featureset, low fees and extra fast transaction speeds.

Channels is available for download here: https://go.onelink.me/PdtN/76df84c9