Allied Payment Network, Inc. (Allied), the industry leader in real-time, open-network payments solutions to banks and credit unions, today announced that it has signed over 40 new financial institutions for its payment technologies through July 31, representing double-digit new client growth. These latest clients range from community banks and credit unions to regional banks with over $25 billion in assets, demonstrating Allied’s ability to scale across financial institutions of all sizes.

Rooted in user-centred design, Allied’s solutions are carefully engineered to provide ease of use and intuitive functionality that make competing platforms unnecessary. Allied is the expert in real-time money movement and continues to build a more flexible and open payments solution. As a result, the company is seeing record growth, further positioning Allied as the industry’s “most connected” payments partner.

Currently, Allied works with nearly 500 financial institutions across 49 states with a combined total of over $310 billion in assets. Additionally, Allied’s solutions are available to more than one million account holders across its client base. In 2022 alone, Allied processed 9.6 million payments totaling over $3.6 billion. As the need for better payment tools coupled with superior experiences grows, Allied is uniquely positioned for continued growth.

One bank to recently partner with Allied is Utah-based Cache Valley Bank. With $2.9 billion in assets, the bank touts its ability to serve customers like a true community bank, but with the products and resources of a large bank. Allied with further the bank’s mission through superior, real-time payments solutions, helping to build and maintain meaningful relationships.

Illinois-based First National Bank in Taylorville also recently partnered with Allied as its payments partner. With $215 million in assets, the bank prides itself on providing trusted products and services that support its community’s financial needs. By working with Allied, the bank will maintain that promise by providing best-of-breed payment technology its customers can trust. 

Another bank to recently partner with Allied is $1.5 billion First National Bank and Trust (FNBT) of Wisconsin. With a history dating back more than 140 years, FNBT has grown to become a leading financial institution for communities across Southern Wisconsin and Northern Illinois. As part of its commitment to delivering top-notch banking services, the bank partnered with Allied to provide real-time payments solutions to its customers.

Also partnering with Allied, Iowa-based Linn Area Credit Union operates with the motto “We Are Family.” As part of that dedication, the $621 million asset credit union will now offer real-time, user-centric payments solutions, providing members with seamless payment experiences.

“Guided by our strong culture, Allied’s best-of-breed solutions provide everything users need, all within their financial institution's trusted digital environment,” said Jeff Harper, Chief Revenue Officer for Allied. “Banks and credit unions of all sizes are looking to us for flexible and open payments solutions. We are proud of this latest milestone and look forward to continued growth.”

“With increased economic pressure from inflation, rate hikes and decreased deposits, financial institutions are looking at ways to recoup lost revenue. A universal payments solution, that includes everything from P2P to eBill, presents a solid path to growth,” said Geoff Knapp, CEO of Allied. “By offering in-house universal payments services, banks and credit unions can re-engage customers and members who may have moved to unbundled payments services outside of their institution. Not only are they able to offer a seamless payments experience for customers, but they can deepen their relationships and share of wallet through increased digital product adoption.”

VNX, a Liechtenstein-based company registered by the Liechtenstein Financial Market  Authority (FMA) under the Blockchain Act, has added VNX Euro (VEUR), VNX Swiss  Franc (VCHF), and VNX Gold (VNXAU) to the Polygon blockchain, providing users with faster transaction times, lower fees, and improved interoperability with other DeFi protocols.  VNX stablecoins cater to different needs in the digital economy, enabling users to effectively manage their investment portfolios, make cross-border transactions, hedge against volatility or integrate stable assets into dApps and digital businesses. 

Polygon users can now enjoy a diversified portfolio of VNX tokens referencing traditional currencies, including VNX Euro (VEUR) and VNX Swiss Franc (VCHF), as well as VNX  Gold (VNXAU), which represents ownership of physical gold securely stored in a vault in  Liechtenstein. 

"We are excited to bring the VNX Euro, VNX Swiss Franc and VNX Gold to the Polygon network," said Alexander Tkachenko, CEO and Founder of VNX. "This will provide VNX  users with faster and more cost-efficient transactions, as well as use cases for Polygon users with stable assets in DeFi”. 

With the addition of VNX Gold, VNX Euro and VNX Swiss Franc, Polygon network, home to tens of thousands of dApps and some of the biggest Web3 projects, such as Aave,  Uniswap, QiDao, and OpenSea, can benefit from integration of VNX tokens to their products. VNX tokens on Polygon are already accessible for buying, selling, and liquidity provided on well-known decentralized platforms such as Uniswap, KyberSwap, and  Balancer and on centralized exchanges – Emirex and BitForex. Moreover, Korean users can utilize the benefits of VNX tokens through the Burrito Wallet enabling them to trade and also providing them access to the Web3.0 world of opportunities. They are also available for purchase and sale for Euro, Swiss Francs and crypto on the VNX platform serving private and institutional clients. Moreover, the availability of VNX tokens will soon extend to other platforms and dApps. 

"We are thrilled about the deployment of VNX and new tokens: VNX Euro, VNX Swiss  Franc and VNX Gold to the Polygon network," said Hamzah Khan, Head of DeFi at Polygon  Labs. "This integration will make it easier for users to transact with these tokens, and we look  forward to seeing more use cases coming from the combination of Polygon ecosystem  players with VNX." 

Being multichain VNX tokens enable users to access stable assets on various blockchains,  allowing users to choose the blockchain that best suits their needs and preferences and easily swap them between different blockchains. 

By transforming stable traditional assets into digital form and reducing transaction costs,VNX tokens unlock a world of exciting possibilities and can be used for settlement and payments, paving the way for new user scenarios and creating unique opportunities to engage with customers of digital businesses across a multitude of industries. Whether it's in gaming,  payment systems, or wallets, the integration of stable assets introduces a whole new level of convenience and flexibility. This has the potential to revolutionize the way we interact and transact in the digital realm. 

Craftgate Technology, a “One-Stop Shop” payment orchestration platform, announces that the Company received USD 1 million investment from D-MARKET Electronic Services & Trading, a leading Turkish e-commerce platform and D4 Ventures, a UK-based venture capital company.

Based in İstanbul, Türkiye, Craftgate helps e-commerce companies to easily integrate and manage the virtual POS of all banks, many other payment and e-money institutions, alternative and international payment methods, all from a single platform. Craftgate’s solutions include virtual POS payment and e-money integration, smart and dynamic payment routing, card storage, one-click payment, recurring payments, closed-loop wallet, and payment by link and QR codes, among others.

This investment is expected to enable Craftgate to embark on further growth and marketing opportunities.

Hakan Erdogan: "We believe this investment will reinforce our strategy in the e-commerce-related payment solutions market".

Craftgate CEO Hakan Erdoğan commented: “We believe that Türkiye has immense potential in fintech services with its young and tech-savvy population, entrepreneurial spirit and high financial inclusion. Since 2007, we have been working on payment systems with a passionate team, a successful product and a strong technological infrastructure. We know very well the dynamics of the banking system and infrastructure providers and we provide solutions to the problems experienced in this great ecosystem with extensive R&D studies. We are growing rapidly day by day with the strength of our investors, such as Hepsiburada and D4 Ventures, who believe in our payment systems experience and product, and we move forward with the goal of becoming global. I think this partnership with our new investors will further reinforce our strength.”

Financial Software & Systems Pvt Ltd (FSS), a globally leading provider of payments technology solutions has announced the launch of ‘BLAZE’, an advanced payments technology platform, designed to meet the diverse needs of banks and financial institutions.

Using BLAZE architecture, for instance, the FSS Payment Gateway can process more than 5000 transactions per second.

BLAZE is expected to offer significant efficiency gains in terms of speed and scalability, ensure high durability during peak workloads, improved fraud prevention, and enhanced services to banks and financial institutions while simplifying choices and bolstering confidence of end consumers. For example, FSS Payment Gateway, powered by BLAZE, can handle more than 5,000 transactions per second (TPS) to ensure a higher number of successful transactions during peak hours. BLAZE enables banks to deliver higher TPS to align with the growing digital commerce adoption in the country.

Banks, currently operating on legacy monolithic infrastructures, face numerous challenges such as the flexibility of enabling quick system integrations, inability to provide exceptional customer experience for ease of payments and ensuring cost efficiency for lower cost per transaction, among others. BLAZE addresses the core of these challenges. The adoption of BLAZE will also empower financial institutions to roll out innovative payment offerings to market at a much faster speed, enhance their competitive edge and attract new customers.

V Balasubramanian of FSS said, “BLAZE marks a significant milestone for FSS. It embodies our commitment to innovation and reflects our vision for the future of payments. We have created a payments industry-focused platform, which will help banks achieve their digital transformation goals. BLAZE enables banks and financial institutions to deliver novel and innovative payment experiences to their customers. With its scalability, security, and adaptability, this platform is set to pave the way for the next generation of payment technologies.”

BLAZE stands out in the payments industry with its distinctive features. Its commitment to security is evident through its key design principles that adhere to industry standards, safeguarding data and preventing fraudulent activities. BLAZE's open architecture will facilitate smooth integration with existing systems, fostering interoperability among various payment processes. What also sets BLAZE apart is its real-time data analytics capabilities empowering businesses to enhance payment processing efficiency and swiftly resolve any payment-related issues.

With this launch, FSS expects to create a substantial impact on the rapidly evolving payments landscape.  At present, BLAZE is accessible to customers in select markets such as India, the Middle East and Africa, and FSS plans to progressively introduce it in additional markets in the upcoming months.

Andaria, the leading digital payment provider and licensed e-money institute, has named Sarah Oliva as its Chief Operating Officer. Oliva brings extensive leadership skills and vast banking experience to Andaria as it heads into its next phase of focus and innovation. 

Prior to her appointment, Oliva served as Head of Operations at Maltese credit institution AgriBank PLC, and previously spent over seven years at Merkanti Bank Ltd where she worked as Head of Operations and Treasury, Operations Manager and Treasury Executive. With a proven track record of improving efficiency, Oliva is known for her ability to roll up her sleeves and drive results.

Her addition to Andaria’s C-Suite extends the noteworthy recruitment drive that has taken place this year at the fintech company. Earlier appointments include Chief Revenue Officer, Reuben Abela, Chief Financial Officer, Gilbert Cini, and Chief Information Security Officer, Malcolm Portelli being promoted to C-Suite positions, as well as a number of additional senior hires that have helped take Andaria to new heights. 

“Welcoming Sarah to our growing team further strengthens our position in the fintech market” said Nirav Patel, CEO at Andaria. “Her agile and enthusiastic approach, along with her exceptional experience, will be instrumental in supporting the next phase of business growth. We are confident in Sarah’s strategic vision and expect her passion for improving operational efficiency to help Andaria reach new levels."

As the COO, Oliva will be managing all internal and external stakeholder relationships to drive rapid business growth. She will lead on the development and refinement of Andaria’s operations and processes, including the newly launched embedded payment offering, and spearhead the payment operations team to deliver exceptional customer service to existing and future partners.

Oliva expressed her excitement about joining the company and working with the new team, saying: “Having Andaria on my radar for a while now, I’m thrilled to support its mission to make digital financial services more accessible and simple. The fintech space is ever evolving, and I’m eager to contribute my expertise to help drive the business forward and foster a more inclusive financial landscape.”

As the company continues to innovate and focus on its mission to continue making digital financial services more accessible and transparent for all businesses, Oliva’s appointment to COO solidifies its position as a leader in the payments landscape.

FBS, a leading global broker, commences an FBS Global Roadshow, as it will support a series of financial industry events in Africa, the Middle East, and Southeast Asia. This initiative aligns with the FBS's commitment to providing traders with the best financial services, regular market insights and analytics, and fostering and supporting trading communities worldwide.

The FBS Global Roadshow will start in September 2023 and run until the end of the year. The brand has already confirmed its participation in several prominent finance and trading industry events, such as

• Traders Fair 2023 Johannesburg, September 16

• Forex Expo Dubai 2023, September 26-27

• FinTech Festival Thailand 2023, September 27-28

“FBS brings in more than 14 years of experience in fintech, trading, and financial market analytics. We constantly monitor traders’ demands and see that offline and face-to-face collaboration with their broker is on top of the list. Thus, we are launching our FBS Global Roadshow to have multiple meeting spots to get closer to our clients, facilitate meaningful conversations, and directly address their questions,” says Ksenia Molodkina, Strategic Marketing Director FBS.

At the exhibitions of the FBS Global Roadshow, brand representatives will take the lead in expert discussions, covering the recent dynamics in the financial markets,  modern trading strategies, and the influence of fintech in fostering worldwide collaborations. The FBS booths will become the expert hubs, offering guests first-hand insights into the FBS services and trading techniques.

FBS is looking forward to welcoming everyone at its booths at Traders Fair 2023 Johannesburg, Forex Expo Dubai 2023, and FinTech Festival Thailand 2023. Other destinations will be announced in the time being. 

JCB International Co., Ltd., the international operations subsidiary of JCB Co., Ltd., has launched a new whitepaper aimed at supporting European merchants to address a common challenge in the e-commerce space: cart abandonment. Merchants who proactively tackle this issue – where online customers do not complete a purchase - will be able to capitalise on the ongoing growth of online shopping and to discover new opportunities in the global digital market.

The global e-commerce market is expected to continue its upward trajectory, reaching $6.3 trillion in 2023. The Asian market, in particular, has seen remarkable growth, with Southeast Asia alone accounting for five of the world’s ten fastest-growing e-commerce markets. This presents a significant opportunity for merchants in Europe as there is an increasing willingness among Asian shoppers to purchase online from businesses worldwide, and let us not forget JCB’s over 154 million cardmembers, who present valuable spending from many different countries around the globe.

However, there is potential for even greater growth by tackling the perennial challenge of cart abandonment in the e-commerce space. Doing so presents various benefits for merchants, such as increasing sales turnover, higher conversion rates, improved customer experience, and customer loyalty. These, in turn, will give businesses a significant advantage as global e-commerce competition intensifies.

One way to reduce cart abandonment rates is to cater for the needs of international customers, by providing a seamless online experience and local payment options. Accounting for 55% of the global consumer class (2.2 billion people), Asia has considerable spending power. However, despite a predicted online retail market of over $2.8 trillion by 2025, Asia Pacific has the highest cart abandonment rate in the world at over 84% in March 2023. Understanding the Asian customer can help merchants to capitalise on revenue potential and establish themselves as a cross-border purchasing option, with the scope of reducing cart abandonment levels.

The primary causes of cart abandonment have been identified in JCB’s latest whitepaper, ‘Click into Place | Unpacking Cart Abandonment,’ which shares exclusive insights, advice, and expert analysis for European merchants to tackle cart abandonment. This includes easy-to-implement solutions such as providing payment choice, showcasing clearly defined options, logos, local currency requirements, pricing, and implementing device-specific payment journeys. With a particular focus on online spend from Asia, the whitepaper aims to help European merchants boost e-commerce sales and stand out from the crowd by providing best-practice solutions to help encourage customers through checkout.

Ray Shinzawa, Managing Director, JCB International (Europe) Ltd., commented: "E-commerce sales are showing no signs of slowing down and catering for the needs of an international audience will become a priority. With Asian countries and regions becoming the world’s fastest-growing e-commerce market, understanding and exceeding the expectations of Asian customers represents the first step in tackling cart abandonment. As one of the global payments brands originating from Japan, JCB has unique insights into the region’s e-commerce market and spending habits, proving a valuable partner for European merchants looking to step up in the e-commerce space.”

Nick Fisher, General Manager, Sales & Marketing, JCB International (Europe) Ltd., said: “Cart abandonment is a pressing challenge that online merchants face as more players emerge. Adopting a proactive approach and leveraging expertise from the right partners can help merchants shift the narrative and transform a challenge into an opportunity. While there is no one-size-fits-all solution, understanding the purchasing behaviours of your customers and ensuring the availability of their preferred payment option will put you in a far better position to reduce the number of abandoned carts and increase sales turnover.”

Download and read the whitepaper here. 

Stubben Edge Group has announced that careless™ insurance has joined as the latest member of its Appointed Representative Network. Founded by André de Neergaard and Scott McKenna in 2022, careless™ insurance aims to revolutionise the insurance landscape by offering instant, AI-powered insurance quotes and cover management.

In a market often perceived as slow and cumbersome, careless™ will stand out by delivering insurance coverage for customers’ cherished belongings within minutes of downloading the app. This swift, user-friendly approach caters to modern digital consumers seeking a simplified, tech-driven insurance experience. After securing £225k in pre-seed funding in July, careless™ is now poised for an exhilarating growth phase. The launch of their state-of-the-art app will establish them as a prominent player in the AI-powered, digital-first insurance market.

De Neergaard commented: "Our journey began in 2022, fuelled by a shared vision. Following rigorous research and consultation with industry experts, a conversation with an underwriter steered us towards a rewarding partnership with Stubben Edge Group. We were introduced to Gemma Jarrett, Stubben Edge’s Network Director, and from the outset, our alignment was palpable. The synergy between our tech focus and Stubben Edge's industry expertise and wide network underpins our strong partnership.”

By joining Stubben Edge Group's Appointed Representative Network, careless™ insurance secures unparalleled access to underwriters and a diverse range of cutting-edge products. This strategic alignment positions careless™ to effectively cater to the modern generation of consumers, while also affording the InsurTech disruptor a critical support network within the insurance industry.

De Neegaard continued: "Much like Stubben Edge, our mission is to demystify insurance, offering it in a jargon-free, transparent manner. Today's consumers crave easy, tailored products and hassle-free claims processing, all through their smartphones. It's a simple concept, yet the industry has been slow to adapt.”

Gemma Jarrett, Network Director at Stubben Edge, echoes the excitement, stating, "We're delighted to unveil this partnership with a trailblazing entrant in the InsurTech realm. André and Scott bring a fresh perspective that exudes positivity. Their proactive spirit carves a niche for previously underserved customers in a way that delivers huge benefits for them. We’re developing a strong and dynamic Appointed Representative network that embeds customer service and satisfaction at its heart. Watch this space – there's more to come.”

British Business Investments today announces a new £20m Tier 2 capital facility for Cambridge & Counties Bank Limited. Funds raised from the facility will enable Cambridge & Counties Bank to increase its volume of competitive lending to smaller businesses over and above levels it might have otherwise been able to provide.

The investment has been made through British Business Investments, a wholly-owned commercial subsidiary of the British Business Bank, that aims to increase the supply and diversity of finance for smaller businesses across the UK by boosting the lending capacity of a range of finance providers. Since it was established in 2014, British Business Investments has committed more than £3.3 billion to providers of finance to UK smaller businesses.

The British Business Bank has been supporting Cambridge & Counties Bank since 2018, with a £100m guarantee through the ENABLE Guarantee programme, renewed in March 2023.

Leicester-headquartered Cambridge & Counties Bank specialises in providing lending and deposit products for smaller businesses. It was established in 2012 and lends to smaller businesses to invest in their own commercial premises, and to experienced commercial and residential property investors. It also provides finance for smaller businesses to acquire essential assets such as equipment, plant, machinery, or vehicles, using hire purchase and finance lease facilities.

Judith Hartley, CEO, British Business Investments, said: “At British Business Investments, our mission is to increase the overall supply and diversity of finance for smaller businesses across the UK. This £20m Tier 2 facility to Cambridge and Counties Bank supports that mission and will help more smaller businesses across the UK access the capital they need to grow.’’

Andrea Hodgson, Chief Financial Officer, Cambridge & Counties Bank, said: “When we were established in 2012, our aim was to create a responsible and competitive lender which had all the hallmarks of a traditional, customer-centric bank but one combined with the speed, efficiency, and innovation of a contemporary and agile institution.

“Last year, our loan book passed £1bn for the first time, almost all of which was lent to our valued SME customer base. We greatly value our long-standing relationship with the British Business Bank and are grateful to it for its latest investment in our new Tier 2 issuance programme.  As we progressively draw down on this, we will deploy the additional regulatory capital to further support our UK SME client base with their own financing and growth ambitions.”