New Access, which is headquartered in Geneva, Switzerland, provides front-office solutions to private banks, including a portfolio management system, a document management system, and a customer relationship management system. "The acquisition of the Ambit Private Banking solution will reinforce New Access’ global presence in the private banking software industry. New Access will be able to offer a highly competitive front-to-back office software solution allowing private banks to cover the entire functional coverage with only one provider. This integrated solution is easy to implement and maintain, cost effective compared to outsourcing providers, and will allow banks to retain full control over their back-office operations," declared Alexis Sikorsky, founder and CEO of New Access.

This transaction will create significant commercial synergies between New Access and Ambit Private Banking solutions. It will also allow the group to further invest in R&D to develop software solutions adapted to the private banking market shaped by disruptive technologies, and tightening regulatory requirements. "New Access’ solutions are aimed at turning these challenges into opportunities, and getting tangible benefits for their customers," said Vitus Rotzer, General Manager of the Ambit Private Banking business, who becomes Managing Director responsible for business development of the combined group. “We are confident the addition of the Ambit Private Banking solution will benefit customers of both businesses through an enriched product and services offering, while bringing a comprehensive, integrated solution to the private banking market.” 

“I am delighted to welcome Spencer to Fenergo’s Board,” said Marc Murphy, Fenergo CEO. “Spencer brings a huge amount of experience having built a successful career in investment banking over the last 29 years. Spencer will help steer Fenergo through our next stage of growth and I know that Fenergo will benefit greatly from his deep industry experience.”

Most recently, Spencer was Vice Chairman of HSBC Global Banking & Markets. During his decade-long tenure with HSBC, Spencer held several global senior roles in HSBC in areas such as running Debt Capital Markets and Acquisition Finance for four years; Global Markets (including FICC, equities and research) for three years; and Capital Financing (structured and unstructured lending, financing and investment banking products) for three years. Prior to HSBC, Spencer spent 17 years in Merrill Lynch in senior roles spanning real estate finance, investment banking, and debt capital markets across New York, Hong Kong and London. Before Merrill Lynch, Spencer worked for two years at JP Morgan in real estate investment banking. 

In addition to Fenergo Spencer currently serves as Chairman of the Board of the International Capital Market Association, having been a member since 2011, and is helping a few other small companies in their growth strategies. 

“Europe is the second-largest remittance market in the world. Launching in the UK, where over £19 billion ($24 billion USD) in remittances are sent to other countries, is an important next step as we transform the global remittance business. We’re thrilled to offer Remitly’s industry-leading service to the UK, a service that already enables customers in the US and Canada to send over $2 billion a year,” said Remitly CEO Matt Oppenheimer.

Remitly offers UK customers two options, such as Remitly’s Express service delivers money directly to a recipient abroad within minutes through its direct integrations with banking and cash pickup partners around the world. Using a credit or debit card, customers can send money for a flat fee of £3 or less. As well as, leveraging the UK’s Faster Payments Scheme, Remitly’s Economy service enables customers to send money abroad at less cost depending on the recipient country. Through this option, customers get their transfers to recipients quickly, safely, and with competitive foreign exchange rates as the scheme enables nearly-instant payments between participating banks.

Traditionally, the remittance process has been slow, expensive and lacked transparency - leaving customers in the dark, not knowing when - or if - their recipient will receive the money. Remitly’s proprietary global transfer network is changing that. Its digital service uses the latest technology, directly integrating with payout partners to eliminate the forms, codes, agents, extra time, and fees tied to the traditional money transfer process.

Initially, the company will serve people in the UK sending money to India and the Philippines, with more recipient countries coming soon. Of the countries on the receiving end of remittances from the UK, India is the second-largest recipient, receiving over £2.8 billion ($3.6 billion USD), and the Philippines receives over £454 million ($565 million USD). Remitly aims to put billions of pounds in remittance fees back into the pockets of its hardworking customers through offering more transparency, better rates, and lower fees. 

Crespin, a French national, is a graduate in International Business, Trade and Tax Law from the Universite de Metz in France. He brings with him more than 28 years of banking experience gained at highly reputable global and ASEAN-based organisations. He has wide international exposure and has held different business and operational positions across Europe, Latin America, Asia and North America. One of his biggest successes was the introduction of India’s first completely paperless, signatureless, branchless mobile banking, based on biometrics and artificial intelligence.

Group Chief Executive, CIMB Group, Tengku Dato’ Sri Zafrul Aziz said, "I am thrilled to welcome Olivier to the CIMB family, to head our newly set-up CIMB FinTech, which is our very own FinTech hub for us to experiment and realise our digital ambitions. Its operating model will be agile, dynamic and nimble, in order to provoke, incubate and execute ideas that will either redefine or enhance CIMB's products and services. We are prepared to invest significantly in FinTech propositions that will add value and enhance customer experience for our 12 million customers across the region and I'm confident that Olivier, with his vast experience in this space, will help us do just that.”

The initial round of funding will allow Fleximize to substantially increase its lending capacity, and propel it towards its goal of lending over £100 million to SMEs by 2019. It will also help the company further develop and diversify its product offering, and continue to deliver its mission of first-class customer service by advancing its proprietary technology platform with the introduction of dedicated areas for brokers and direct clients.

Between 2015 and 2016, Fleximize grew its lending to SMEs by 132% to £40 million, a figure that the company is looking to double in 2017 as it rolls out its new secured loan product. Companies can now borrow up to £250,000 from Fleximize on an unsecured basis, and up to £500,000 on a secured basis.

Peter Tuvey, co-founder and managing partner of Fleximize, said: “The chancellor described SMEs as the lifeblood of the UK economy in his spring budget, and we witness that every single day here at Fleximize. From Shelley Dickinson, owner of the award-winning Shelley’s Pie and Mash Shop, to Polly Thompson, managing director of bespoke bridesmaid dress retailer, Nabbd, our clients are representative of the hands-on, hardworking and dedicated entrepreneurs that are driving the UK forward.”

Peter added: “It’s been an incredibly positive start to 2017 for Fleximize, with our lending to SMEs in all sectors growing at a substantial rate. It has been a pleasure working with Hadrian’s Wall Capital Limited. We’ve valued their proactive and fast-paced approach to supporting us. This additional access to funding will fuel our capability to support businesses requiring capital in an unpredictable economic climate, while allowing us to expand our excellent team. We’ve already made a number of key hires this year, including former HSBC and Aldermore senior manager Craig Farmer as chief risk officer, and we are looking to increase our headcount further in the coming months.”

Marc Bajer, chief executive at Hadrian’s Wall Capital Ltd, investment adviser to the fund, said: “We’ve been impressed by Fleximize’s growth over the past three years. It is rare to find such a focused and technology-enabled lender in the SME alternative finance sector. We were impressed with the commitment to transparency with its customers. We look forward to working closely with Peter and the team, and supporting the company on the next stage of its exciting journey.”  

Creditsafe, the global business intelligence experts are the world’s most-used supplier of online company credit reports, serving 200,000 subscription customers globally and producing 125 million credit reports annually. 

In order to achieve the FCA accreditation Creditsafe had to first become 'International Organization for Standardization' (ISO) compliant to ensure its products, processes and services are fit for purpose. The FCA accreditation is therefore a significant benchmark in Creditsafe’s evolution and will see Creditsafe now working alongside some of the world’s largest banks to provide global financial information across the enterprise market.

Creditsafe’s FCA authorised services now include providing credit references, credit information services and credit and risk management.

Paul Beard, Global Commercial Contracts Director at Creditsafe, said: “FCA authorisation demonstrates to current and future clients, particularly large enterprises that Creditsafe’s regulatory and operational infrastructure has met the highest standard demanded by the FCA.

“It is further evidence of our commitment to deliver excellence in credit reporting, and whether a client is an SME, enterprise or financial expert, they are receiving information to make business decisions from a trusted and regulated provider.

“This authorisation provides us with a competitive edge in an age of increasing compliance and regulation.” 

The solution, which was jointly developed with CREALOGIX, solution is impressive thanks to its high level of user-friendliness and secure access via push authentication. 

Bank Julius Baer is pointing the way to the future of digital banking through the new mobile app. The Swiss private banking leader is the first company in its industry to launch the next-generation mobile banking solution that it developed with CREALOGIX. Customers of Bank Julius Baer only need their smartphone to use all banking functions on the app. This enables them for example to carry out transactions or manage portfolios at any time and any location. In addition, the user will find all information amalgamated on the app. The log-in process is simple, secure and convenient thanks to push authentication.

The avoidance of additional hardware tokens or access codes provides superior flexibility while ensuring maximum security. Bank Julius Baer customers thereby are provided with a seamless offer which satisfies their high demands in terms of mobility.

 

R3 counts a number of major insurance companies amongst its member base, including MetLife, AIA and Suncorp Group, as well as other financial services members that have their own insurance groups. ACORD is a non-profit organisation that provides the global insurance industry with data standards and implementation solutions.

The Centre of Excellence will provide a dedicated environment for both R3’s members and ACORD’s members to research, experiment and design DLT applications that improve the efficiency of insurance processes such as claims handling and data management. 

R3 will provide access for ACORD’s members to the R3 Wiki, a vast online knowledge library that contains a collection of research and resources created and compiled by R3 and its members. A dedicated portal has been built on the Wiki specifically for insurance projects, enabling ACORD members to engage in discussion amongst themselves and with other members of R3 on DLT and insurance related topics.

R3 will provide education for C-suite, management and technology communities within ACORD’s membership, as well as engaging in regulatory outreach within the insurance industry. ACORD will have the ability to invite appropriate regulators and supervisory bodies into projects being carried out within the Centre of Excellence.

R3 has actively engaged with regulators, trade associations and government entities across the world since its inception, inviting them into relevant trials with its members and enabling them to observe and participate in developing elements of DLT it is testing and building.

David Rutter, CEO of R3, commented: “R3 is building distributed ledger technology for use across the financial services industry, of which the insurance sector is a key component. There is huge potential for insurers to leverage this technology to overhaul outdated systems used for processes such as premium payments and claims handling. We have been steadily growing our member base in this sector, and our partnership with ACORD will now provide these institutions and the industry as a whole with the tools and network to foster knowledge sharing and experimentation.”

Bill Pieroni, President and CEO at ACORD, commented: “We are excited to partner with R3 to create the DLT Centre of Excellence for the global insurance industry. It gives ACORD's members the opportunity to learn from other financial sectors, leveraging the knowledge to reduce time, cost, and risk associated with proof-of-concepts and pilots. Likewise, the work carried out by ACORD and R3 will benefit R3’s member base as a whole. ACORD looks forward to working together to strategically position the industry for change."

Marty Lippert, Executive Vice President and head of Global Technology & Operations at MetLife, added: "The partnership between ACORD and R3 to create a Centre of Excellence for insurers and reinsurers will expedite innovation and establish global standards for distributed ledger technology across the insurance industry. MetLife looks forward to expanding its strong relationships with both ACORD and R3 and contributing to the efforts of the new Centre of Excellence.” 

The world’s fifth most valuable cryptocurrency is now open for trading on the platform with buy and sell pairings including DASH / EUR, DASH / USD, and DASH / BTC. The partnership between Dash and Kraken comes in the wake of a record surge for the cryptocurrency, which experienced a 6x increase in price per ($11 to $72 USD) and a 10x increase in trading volume ($3 million to $30 million USD) across Q1.

Dash VP of Business Development, Daniel Diaz, said “Kraken is excited to offer Dash on their trading platform and our teams are working closely to ensure clients can begin trading the currency immediately. Kraken is an incredibly well established and well structured organization, and amongst the best in the exchange business. In terms of reputation, they represent the highest standard for client satisfaction. Dash is a project that has implemented very original ideas that resonate well with the market, and as a top tier exchange, Kraken’s mission is to provide clients with access to digital currencies that are in demand and provide value.  

Following several business partnerships around the world, the implementation of the Sentinel software upgrade and the announcement of revolutionary decentralized payments system called Evolution, Dash has been on record breaking trajectory. Its total market cap skyrocketed from $78 million USD (January 1st) to an all time high of $835 million USD (March 18th), with new international markets unlocked alongside user demand.

Daniel Diaz continued, “As the leading exchange in the Euro market, Kraken’s global reach helps Dash successfully meet the needs of our users and investors. The entire integration experience was very positive and we have high expectations for the partnership going forward. This is a significant achievement for Dash because our ecosystem needs high quality and trustworthy exchanges like Kraken to thrive, and we know they will play an important role as a fiat gateway.”

Founded in 2011, Kraken Digital Asset Exchange is one of the world’s largest and oldest bitcoin exchanges with the widest selection of digital assets and national currencies. Based in San Francisco with offices around the world, Kraken’s trading platform is consistently rated the best and most secure digital asset exchange by independent news media. Trusted by hundreds of thousands of traders, institutions, and authorities, including Germany’s BaFin regulated Fidor Bank, Kraken is the first exchange to display its market data on the Bloomberg Terminal, pass a cryptographically verifiable proof-of-reserves audit, and one of the first to offer leveraged margin trading. Kraken investors include Blockchain Capital, Digital Currency Group, Hummingbird Ventures, Money Partners Group, and SBI Investment. 

Together they intend to roll out a number of innovative offerings and develop educational content to help people feel positive and informed about their finances. This will include Munnypot providing online financial advice, as part of YouDrive offering planning solutions to employers designed to enable their employees to feel engaged and rewarded, thus improving staff retention.

Formed in 2015, YouDrive aims to help people get control of their finances by providing money saving and financial planning tools online and over the phone. The company is actively supported by Birmingham City Council (BCC) and is on a mission to address the service, support and advice gap for the financial needs of the consumer in the Midlands, before expanding out geographically.

Munnypot is an online savings and investment service giving anyone straightforward automated financial advice in a language they can understand, at a fraction of the cost of most financial advisers. It provides an intuitive WhatsApp style ‘chat-based’ user-interface that advises people on their savings and investment decisions.

Chris Large, Director, YouDrive said, “Financial stress and anxiety for individuals is one of the biggest burdens on employers, employees and ultimately the country. We’re on a mission to address this and our partnership with Munnypot is key: we can now give our users a smart way to access certified financial advice and find the most suitable savings and investment options for their circumstances.”

Simon Redgrove, co-founder of Munnypot, said, “We’re delighted to partner with YouDrive to bring affordable, accessible financial advice to tens of thousands of people in the Midlands area and beyond. Munnypot has had great reviews since launch and working with partners like YouDrive, who share our determination to close the UK’s financial advice gap, should bring the service to the attention of even more people. We want the British Public to fall back in love with savings to enhance their financial futures.”

Recent independent research1, commissioned by Munnypot, found that over a quarter (27%) of people have no existing savings pots, and a third (32%) saved nothing at all last year. Even those that save regularly may be struggling to increase their funds – the research showed that over a quarter (26%) of the UK’s savings actually shrank in 2016, as many people withdrew more than they put in.