Danish RegTech firm, Muinmos is proud to announce it has been awarded the prestigious, internationally recognised ISO 27001 certification – an official endorsement of the company's unwavering commitment to maintaining the highest standards of information security.

Achieving the ISO 27001 standard confirms that Muinmos’ information security management programme for its onboarding platform and across the entire organisation is comprehensive and follows leading practices in risk management, cyber-resilience and operational excellence. Additionally, the certification demonstrates Muinmos’ continued commitment to information security at every level and ensures the data and information security has been addressed, implemented, and properly controlled.

Remonda Kirketerp-Møller, Founder and CEO, Muinmos said: “We have always prioritised and invested in IT security and felt it was important to be able to demonstrate this by having a highly respected accreditation and independent verification. The ISO27001 process was extremely rigorous, comprising of a comprehensive audit programme and involving all our people, processes and technology. At a time when cybersecurity is one of the biggest concerns for financial institutions worldwide, this UKAS accreditation sends a clear message to our clients and stakeholders that security and compliance are of the utmost importance to Muinmos and we adhere to the highest possible standards. This is a fantastic achievement, reinforcing our position as a global market leading RegTech.”

Emil Kongelys, CTO, Muinmos added “This major milestone for Muinmos demonstrates our significant investment in IT security and demonstrates effective management of information security risks, prioritising the safeguarding of clients’, staff and stakeholders’ data. We passed the audit with flying colours, with zero non-conformities which is an exceptional result. Muinmos’ achievement of the ISO 27001 standard places us at the forefront of RegTechs and reflects our ongoing commitment to security excellence ”

Muinmos’ accreditation is in accordance with the new and updated The ISO 27001:2002 standard which helps organisations to establish and maintain an effective Information Security Management System (ISMS), using a continual improvement approach. It involves systematically assessing any risks to the company’s information security by putting in place policies and procedures to manage those risks.  It also requires regular review by an independent body, so clients will know the information security is of the highest standards.

The scope of Muinmos’ ISO 27001 certification includes all of Muinmos’ employees, organisational units, technology, IT infrastructure and information assets. The certificate was certified by A-LIGN Compliance and Security, Inc., an independent, third-party auditor accredited by the UK Accreditation Service (UKAS) to perform ISO 27001 certifications.‍

Founded in 2012, Muinmos has revolutionised client onboarding with its pioneering platform that fully automates the entire client onboarding chain, from AI powered client categorisation to fully automated KYC/AML checks and client risk assessments. The platform also performs constant monitoring, keeping up-to-date with changes both in regulation, clients’ details and risk profiles.

Adyen, the financial technology platform of choice for leading companies, and Billie, the B2B payments innovator, join forces to let Adyen’s customers enable B2B Buy Now, Pay Later (BNPL) payment services. 

By partnering up with Billie, Adyen helps merchants and their business customers tackle everyday hurdles in B2B commerce. This includes managing cash flow for buyers and sellers, eliminating payment defaults and fraud risks, and simplifying dunning and collection processes. Billie's BNPL solution therefore offers a cost-efficient alternative to corporate credit cards.

With the seamless integration of Billie’s B2B BNPL solution into the Adyen platform, the partnership is making online payments effortless for buyers via e-commerce and m-commerce channels. It allows merchants around the world to offer their business customers one of the most in-demand payment methods in B2B commerce: Pay later by invoice. The technical integration for Adyen’s customers is easy, allowing them to offer Billie in their B2B checkout with just a few clicks. 

With Billie, business buyers of shops that run on the Adyen platform can make purchases and defer payment for up to 30 days. At the same time, merchants receive payment upon the shipment of goods, making Billie’s payment method a beneficial tool for the cash flow management of both merchants and business buyers. This is possible because Billie performs real-time credit approval of buyers at checkout, as well as providing default and fraud risk protection for merchants. In this way, Adyen’s B2B sellers can offer their business customers flexible payment terms, while reducing their own credit risk and administrative burden of commercial credit collection to zero. Through Billie, merchants benefit from +64% conversion rates as well as +18% average order values and can also manage the full post-purchase cycle, from capturing shipments to handling refunds.

The partnership is part of Adyen’s commitment to offering a subscription to innovation to its customers, ensuring that they always have access to the latest payment developments. Adyen customers can benefit from more than 150 payment methods on a single platform built for enterprise-level online payments.

The first countries to go live today as part of the partnership are Germany, Austria, Sweden, and the Netherlands. France, UK, and Switzerland will follow in the coming months. This refers to the countries of buying companies – the integration is already available to all Adyen merchants globally, both for domestic and cross-border transactions.

“We are very happy to offer our customers and their business buyers a strong Buy Now, Pay Later option,” says Hella Fuhrmann, Country Manager DACH at Adyen. “With Billie being one of the leading BNPL solutions for B2B checkouts, we have a great partner on our side and are looking forward to seeing our partnership grow.”

“We are excited to give Adyen merchants easy access to the preferred payment method of their business buyers: pay later by invoice,” says Christian Grobe, co-founder and co-CEO of Billie. “Our partnership will enable thousands of merchants across Europe to grow their customer base, modernize their B2B payment stack, and expand risk-free into new markets.”

JCB International Co, Ltd, the international operations subsidiary of JCB Co, Ltd, and Value Retail, creator and operator of The Bicester Collection, today announced the expansion of their partnership for another two years, following the success of the initial three-year partnership. This offering will be available in eight luxury shopping destinations across Europe. With the increase in international travel, the extension of this collaboration provides new growth opportunities. 

In line with JCB’s commitment to expand card acceptance across Europe, the partnership initiated in April 2019 has played a pivotal role in fostering growth. Beginning with JCB Card acceptance at boutiques in Bicester Village (London) and La Vallée Village (Paris), JCB Card acceptance has progressively extended to additional Villages across Europe. Over the past two years, this collaboration has resulted in an impressive 51% YoY growth in spending by JCB Cardmembers at The Bicester Collection (as of June 2023). Better still, JCB Card acceptance has expanded to an additional shopping destination, Maasmechelen Village (Brussels).

In addition to increased acceptance opportunities for cardmembers, this collaboration will offer more special promotions and savings for valuable JCB Cardmembers. The luxury Villages' brand partners stand to gain from increased spending by Cardmembers from the Asia-Pacific region into Europe, notably from top-spending countries and territories such as Japan, Taiwan, Indonesia, Philippines, and South Korea. In addition, emerging countries and territories such as India, Vietnam, Laos, and Bahrain, characterized by a commendable uptick in spending, present a promising avenue for brands to explore new revenue streams. This partnership, therefore, serves as a strategic conduit for brands to engage with the valuable clientele that JCB Cardmembers represent, fostering a mutually beneficial relationship.

Ray Shinzawa, Managing Director, JCB International (Europe) Ltd, said: “Our partnership with The Bicester Collection has been a great success over the past three years and we are thrilled to extend it for another two years. This expansion allows us to continue to offer our valuable cardmembers exclusive benefits and increased spending opportunities at luxury shopping destinations across Europe.”

Graham Stanford, Director of Partnerships, B2B, The Bicester Collection said: “We are delighted to support our brand partners further through expanding our partnership with JCB and its 156 million cardmembers. At The Bicester Collection we are committed to providing magical experiences for our guests, numbering 46 million in 2023 and whom we welcome from all corners of the world. As international travel grows, we look forward to serving more JCB Cardmembers and to creating ever-more memorable experiences for them on their travels in Europe.”

TerraPay, a global money movement company, is pleased to announce the appointment of Ruben Salazar Genovez, recently the Global Head of Visa Direct, as President.

As a seasoned veteran of the payments industry with experience at Visa, Citibank, Barclays, and Mastercard, Mr Salazar Genovez has established himself as a respected leader in the payments industry. Before joining TerraPay, he served as the Head of Visa Direct globally where he successfully spearheaded various initiatives contributing to the growth and transformation of Visa's money movement offering.

As President of TerraPay, Mr Salazar Genovez will be responsible for defining the company's strategic vision for global expansion and the development of its payments infrastructure and non-card network capabilities. Leveraging his deep expertise in the payments sector, he will drive the implementation of innovative strategies to further strengthen TerraPay's position as a leading player in cross-border money movement and non-traditional payments.

Ruben Salazar Genovez, President, TerraPay, said: “I am truly honored to join TerraPay as President during such an exciting phase of its journey. TerraPay has already demonstrated its ability to revolutionize cross-border payments, and I am excited to contribute to the next chapter of its success. With a strong foundation in place, I am confident that we can accelerate our global expansion and develop new, innovative solutions that will shape the future of the payments landscape.”

TerraPay's Board of Directors is confident that Mr Salazar Genovez's extensive experience and strategic insights will be instrumental in driving the company's growth and expanding its global footprint. His appointment reflects TerraPay's commitment to attracting top-tier talent to fuel its ambitious global expansion plans.

Ambar Sur, Founder and Chief Executive Officer, TerraPay, said: “Ruben Salazar is an exceptional addition to our leadership team, and we are thrilled to welcome him as President of TerraPay. His deep knowledge of the payments industry, coupled with his proven track record in driving global growth, will be invaluable as we continue to expand our presence worldwide. We are confident that under Ruben's leadership, TerraPay will continue to revolutionize the payments and money movement landscape and meet evolving customer demands.”

Ani Sane, Co-Founder and Chief Business Officer, TerraPay, said: “Ruben’s servant leadership approach and client-centric perspective will help us accelerate our commercial efforts and strategic partnerships, deepening our participation in the market. We are delighted to welcome Ruben to the TerraPay family.”

OpenPayd, the leading global payments, and Banking-as-a-Service (BaaS) platform, today announced its partnership with TrueLayer, Europe’s leading open banking payment network, to enhance its instant payment solutions offering for its clients.

OpenPayd will leverage TrueLayer’s payments network throughout the UK and Europe to enable secure and instant account-to-account (A2A) payments for its global client base. The partnership will deliver an enhanced user experience and improved conversion rate for depositing funds in real time.

The new service will enable OpenPayd’s clients to offer pay-by-bank functionality that is fully embedded into their payment infrastructure and delivered through their OpenPayd API integration. By enabling this functionality, their underlying customers can initiate payments and authenticate the payment directly via their banking app.

The rapid rise in open banking adoption - over one in nine Brits are using open banking services as well as 80+ banks beyond the CMA9 - is a reflection of its potential to drive innovation, increase productivity and cut costs.

“Our partnership with TrueLayer marks an important step in OpenPayd’s growth strategy. We’re building a payments platform to give our clients access to any payment rail they need, where they need it. This collaboration is the next step in delivering fast, user-friendly payment journeys to our clients and their underlying users”, said Barry O’Sullivan, Head of Banking and Payments Infrastructure at OpenPayd.

“Partnering with industry leaders like TrueLayer, gives us the chance to bring open banking-enabled payment solutions to our clients, so they can reap the benefits of this technology.”

Mariko Beising, VP Financial Services and Partnerships at TrueLayer added: “At TrueLayer, we firmly believe that the future of payments is built on open banking. It  enables the development of new solutions in payment services that foster growth, innovation and provide better solutions for consumers and businesses. We’re excited to collaborate with OpenPayd to deliver better payment experiences to its clients.”

Temenos, today announced that Commerce Bank, a top US bank, has gone live with Temenos’ (Infinity) loan origination solution, increasing operational efficiency and delivering a frictionless, hyper-personalized customer experience.

The latest go-live follows the successful modernization of the bank’s core banking system, moving from legacy systems for deposits to Temenos’ modern, agile and open platform tailored for the US market. In 2022, the bank migrated over 2.5 million customers and 6.9 million accounts to the Temenos platform.

Named among America’s Best Banks by Forbes, Commerce operates using a “super community bank” model that brings together sophisticated banking products with high-touch, high-tech delivery to create and build deep relationships.

Temenos (Infinity) Loan Origination offers powerful decisioning, highly customizable applications, dynamic features, and extensive third-party integrations. The solution has been deployed to create a fast, omnichannel origination experience for securities-based loans and lines of credit provided through Commerce Trust - Commerce’s Private Bank.

Commerce previously relied on manual calculations, documentation and collateral gathering to process applications, which was complex to configure and set up. With Temenos (Infinity) Loan Origination, Commerce has been able to automate the process with increased digitization to eliminate paper processes, improve reliability, and drive the end-to-end product origination process down to 5 minutes or less.

John Handy, President and Chief Executive Officer for Commerce Trust, commented: “Commerce helps high-net-worth individuals simplify their complex financial lives. The Temenos’ loan solution will help us keep ahead of the competition, to take the lending experience to the next level, increasing staff efficiency and customer satisfaction.”

Philip Barnett, President – Americas, Temenos, said: “We are delighted to build on our close relationship with Commerce to modernize its loan origination capability. This latest go live proves the strength of our banking platform, which is tailored for the needs of US banks - from large regional incumbents, and global disruptors to challenger banks. Private banking is an increasingly competitive segment in the US and with Temenos, Commerce can continue to differentiate and meet the rising expectations for personalized, fast and easy banking interactions.”

Temenos was recently named a Leader in IDC MarketScape: North America Lending Decisioning Platforms and is ranked as the #1 best-selling banking software for Digital Banking and Channels by IBS Intelligence.

API-first fintech Monite, providing hassle-free finance automation for B2B platforms, has secured a $6M top-up round, bringing its total seed funding to $16M. The round was co-led by Valar Ventures and Third Prime, with continued support from existing investors. The company intends to use the funds to consolidate its position as a European embedded finance leader and to expand its footprint in the US.

Most B2B payments are slow and inefficient: of the US $27 trillion B2B transaction volume in 2022, the largest portion – around $12 trillion – used cash or checks. In this case, one of the most favorable scenarios for businesses is to get automated financial operations within the B2B platforms they use every day: banks, neobanks, payment providers, verticalized SaaS, and more. 

With 64% of SMBs expressing interest in using financial services embedded in the platforms they use daily and consider their 'system of record', these B2B companies are striving to meet the demand and become one-stop shops for their business clients. For these B2B players, success in handling customer payments lies in efficiently managing the entire sequence of activities leading up to the transaction. The real opportunity here is to offer solutions that enable companies to streamline and own payment-related workflows, such as order-to-cash and procure-to-pay workflows invoice mapping, internal approvals, and regulatory compliance adherence.

Monite helps B2B platforms offer robust revenue & spending management workflows to their clients within 4-5 weeks using flexible APIs and SDKs. In days, not months, platforms can start providing a comprehensive invoicing solution designed to facilitate payments for SMBs, incorporating compliant quotes, reminders, payment links, and seamless accounting integrations. Monite also enables the embedding of cutting-edge accounts payable automation, including email capture, OCR, approval workflows, and a range of suitable payment methods.

While research by Axios has indicated that venture capital interest in fintech fell by 40% in 2023, Monite’s remarkable 10x increase in monthly recurring revenue and 5x year-over-year customer growth piqued the interest of Valar Ventures, backers of Xero, N26, Qonto, and other notable fintech startups. James Fitzgerald, Founding Partner at Valar Ventures, said "The SMB market remains underserved, especially within finance automation. We see many startups and incumbents attacking this problem, but Monite's unique infrastructure lets companies add bill pay, invoicing, and other payment solutions to their offering quickly and cheaply simply through Monite's APIs. It also enables platforms serving SMBs to add new revenue streams by offering their clients more real value. Monite's customizable embedded workflows for B2B platforms align perfectly with our vision of how finance automation will be evolving in the next years."

Ivan Maryasin, CEO and founder of Monite, says "We are thrilled to get continuous support from existing backers like Third Prime and welcome Valar Ventures among our investors. Valar has a history of picking stars in the B2B finance and payment space. They recognize talent and growth potential and offer hands-on support in the company’s development. Our ambition, backed by impressive achievements against bold targets, makes Monite a perfect fit for Valar.” 

Building on the additional funding, Monite plans to double down on product development and expand its suite of embeddable financial services for US B2B platforms and their customers. The company has already taken strategic steps to enter the US market signing clients such as Capital on Tap and OpenSolar, both of which undertake extensive operations in the United States. It has launched Invoicing and Bill Pay solutions for US clients, adding payment rails for ACH and check payments, and ensuring that the service aligns with local regulatory standards. 

FullCircl, a UK-based SaaS platform that automates the verification of global businesses and individuals, today announces the appointments of Hema Marshall as its new Chief Revenue Officer (CRO), Amy Musk as Chief Operating Officer, and new VP Product Immy Tugcu.  These appointments signal a step change for FullCircl as it moves from a founder-led scale-up to a C-Suite-driven organization.

Hema Marshall joins as FullCircl's first-ever CRO from Sparqa Legal. She also brings with her 13 years of senior leadership experience at Cisco.  Hema has a track record of driving growth by successfully building and leading high-performing sales teams and implementing holistic strategies for growth-driven alignment across all revenue-related operations.  Marking a huge strategic addition to the FullCircl senior leadership team, she will play a pivotal role in driving even more value for customers and partners.

Amy Musk, who previously served as VP of Growth, moves into the role of COO.  Amy has been with the business for 6 years; her clarity of execution has consistently delivered exceptional results.  Moving into the COO role Amy will accelerate FullCircl's growth trajectory by shaping the next phase of its strategy, facilitating collaborative optimization of its business operations, and delivering a best-in-class customer experience.

Immy Tugcu, who has been with FullCircl since its formation, has also become its new VP Product.  She will lead the team in formulating and executing a product strategy and vision that ensures the business continues to foster innovation and deliver cutting-edge solutions to the financially regulated industries FullCircl serves.

Speaking about the appointments, Andrew Yates, CEO of FullCircl, commented: "These new appointments are the next building block in FullCircl's journey, moving us from founder-led to C-Suite managed.  We've restructured our business for even faster growth and to ensure we remain highly responsive to the changing needs of the regulated businesses we serve."

"We sit at a unique intersection between being a RegTech and a data intelligence technology that drives revenue, giving us an exciting opportunity to drive the future direction of digital transformation.  These new leaders are incredibly talented, and I look forward to working in partnership with them to take our business and our customers into the future."

As the market watches for an anticipated drop in U.S. interest rates following recent Federal Reserve Board pronouncements, American auto finance professionals await the potential impacts lower rates will have on their business, says Tim Yalich, auto lending industry expert and Head of Automotive Strategy, Wolters Kluwer Compliance Solutions. The impact of high rates from the past year, together with the potential for lower rates this year, will likely lead to an increase in demand for auto loan refinances, he suggests.

“Auto lenders will start to use artificial intelligence to increase their touchpoints with customers and to detect mistakes and fraud,” said Yalich. “Those who have digitized will find it easier to manage the influx of customers and make sure that they are in contact with customers along their lending journey.”

In any year in which loan volumes are higher, Yalich says it will be imperative for auto lenders to be on the lookout for mistakes and inconsistencies in data. A December 2023 Wolters Kluwer auto lending survey revealed that 77% of auto financiers who still rely on manual or paper processes acknowledge that their documents contain errors in a third or more of deals.

According to Yalich, while lending will always be subject to the vagaries of the financial markets, auto lenders are likely to handle a higher volume of loans this year: “The pent-up demand from consumers waiting to buy a new car will likely release this year, with consumers who bought when rates were higher looking to refinance as rates lower.” He notes that while the traditional practice of refinancing auto loans hasn’t been as popular in recent times, relatively low rates during the early 2020s led many lenders to offer auto loan refinancing.

Respondents in that same Wolters Kluwer survey indicated they were looking to transition to digitized documents in the following areas: loan processing and funding (31%); credit application and decisioning (28%); and securitization or collateralization (24%).

“The industry has been focused on the consumer experience and making sure that it is digitized to match consumer buying habits,” explains Yalich. “What I believe we will see this year is an emphasis on prioritizing the back end of the lending process. This is a shift in the industry and a new point of focus that will minimize errors, create efficiencies, and keep pace with early adopters who prefer a fully digital lending experience.”

Wolters Kluwer Compliance Solutions is a leading provider of digital technology and expert professional services. Its suite of products and insight resources serve as an industry enabler in the evolution toward digitization for the entire automotive and lending ecosystem.

Fiserv, Inc., a leading global provider of payments and financial services technology, today announced the appointment of Lance Fritz to its board of directors.

Fritz served as chairman, president, and chief executive officer of Union Pacific Corporation from 2015 until his retirement in 2023. Fritz began his Union Pacific career in 2000 as a vice president of marketing and sales and held executive roles in operations and labor relations during his tenure. Before joining Union Pacific, Fritz held roles with Fiskars Inc., Cooper Industries, and General Electric. He currently serves as a member of the board of directors of Parker-Hannifin Corporation and The Business Council.

“Lance is a welcome addition to our board,” said Frank Bisignano, Chairman of the Board of Directors of Fiserv. “His substantial experience as an operations-focused CEO, senior executive, and director across a diverse range of industries will bring unique perspective to the Fiserv board as we continue to execute on our strategic growth priorities.”

In a world moving faster than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life.