Finastra, a global provider of financial software applications and marketplaces, and Tesselate, a global digital transformation consultancy and integrator, today announced the launch of an end-to-end pre-packaged service for faster and easier trade finance digitalization. Tegula Trade Finance as a Service, powered by Finastra Trade Innovation and Corporate Channels, enables US banks to automate manual processes and adapt to new demands with a quicker time to market and value. Via Finastra’s FusionFabric.cloud, banks can also seamlessly integrate fintech applications that use the latest technologies such as artificial intelligence, blockchain, and automation tools.

“Trade finance is a complex industry that is still reliant on manual and often fragmented processes,” said Jim McMahon, Managing Director, Head of Enterprise Sales and Strategic Partnerships, Americas at Finastra. “Our combined service with Tesselate delivers the automation and intelligence needed to increase efficiencies and decrease processing times, risk, errors, and total cost of ownership. Importantly, the all-in-one solution promotes interoperability of trade finance processes to reduce friction and complexity, while giving banks the agility to enhance existing or launch new services. We are bringing together Finastra and Tesselate’s industry-leading solutions, services, and expertise to make digitalization as seamless as possible for banks.”

Corporate Channels is a digital banking platform that provides banks with a single portal to unify trade, cash, supply-chain finance, lending, and treasury services for corporates. Trade Innovation is an end-to-end solution for frictionless trade and supply chain finance that uses straight-through processing, digitization, and data analytics to support growth and agility. Tegula is a scalable, cloud-hosted, and fully-managed Trade Finance as a Service platform that can be easily integrated within a bank’s organization. The combined cloud-based service and access to Finastra’s wider fintech ecosystem means US banks can future-proof their business, increase revenue streams, expand into new markets, and strengthen security.

“Adopting new technology can be costly at every stage, and it can be challenging to resource IT teams with the right skills to manage it,” said Alexandre Arnoux, Chief Revenue Officer and Managing partner at Tesselate. “By delivering our all-in-one joint solution as a highly secure managed service, banks do not need to invest in significant amounts of additional resources or take them away from their core business to pursue digitalization. Banks can take a modular approach to implementation for better cost and resource control, and we provide the ongoing updates, enhancements, and new capabilities at speed. Finastra and Tesselate are natural partners; we are working together to accelerate trade finance digitalization for any size of bank.”

Tuum is pleased to announce the appointment of Raquel Guillot as the new Sales Partner Director, a significant addition to our leadership team with a laser focus on the Southern European market. Raquel brings to Tuum a wealth of experience, with over 19 years in the financial services industry where her client-centric approach and passion for technology have driven impressive results.

Raquel’s expertise, cultivated from a career at the forefront of fintech and core banking entities like GBG Group, ACI Worldwide, Temenos, and Thought Machine, equips her with an exceptional ability to spearhead new business ventures, cultivate key partnerships, and execute strategic sales.

Raquel’s proven ability to merge financial industry expertise with technological innovation to solve client’s current and future needs positions her as a key asset to Tuum. This combined with her experience of solidifying relationships with top-tier financial institutions in regions including LATAM and the Iberia Peninsula will be instrumental to Tuum’s mission to expand our presence and influence within the dynamic Southern European financial sector.

On her new role at Tuum, Raquel commented, “Joining Tuum was a natural step for me, aligning seamlessly with my professional ethos and passion for introducing cutting-edge financial technologies into new markets. In my new role, I’m set to harness my comprehensive experience in sales and partnership management to not only enhance our partnerships and direct sales but also to embody and advance Tuum’s vision of reshaping the future of banking. It’s my intention to foster a synergistic ecosystem that not only drives Tuum’s growth but also catalyzes the evolution of financial technology, mirroring the innovative spirit at the heart of Tuum.”

Jean Souto, VP of Global Partnerships at Tuum, commented stating, “Bringing Raquel into the Tuum family is a testament to our commitment to broaden our horizons within the European financial ecosystem. Her rich industry acumen, impressive history of generating strategic sales, and nurturing impactful collaborations are the keystones that will help us become the leading next-generation banking provider in Europe and beyond.”

Temenos has been recognized again as a global sustainability leader according to the most reputable ESG ratings. Temenos achieved the top score in the Software industry for the second year running in the 2023 Dow Jones Sustainability Indices (DJSI) and was the only company in the industry awarded top 1% distinction in the S&P Global Sustainability Yearbook for 2024. Temenos was also classified as low risk in Sustainalytics ESG Risk Rating Report, while retained its platinum medal by EcoVadis for its sustainability performance.

These latest achievements reflect Temenos’ commitment to sustainability as the company leads the transition to SaaS, with more than 700 clients on Temenos Banking Cloud, helping banks reduce their carbon emissions by up to 95% compared to using on-premise IT infrastructure.

Banking is an IT-intensive sector, and the dependence is increasing with pressure to deliver new digital offerings, process growing transaction volumes, leverage new technologies such as Artificial Intelligence, and maintain vast data repositories. By migrating banking operations to the cloud and SaaS, banks can significantly reduce their environmental impact and operate more sustainably.

Temenos’ new end-to-end SaaS Enterprise Services, enabling banks to quickly deploy software solutions and take advantage of a leaner, agile, and more efficient banking system, is a further step towards decarbonizing the banking industry. Temenos recently announced Leap, a new AI-powered offering that helps banks modernize faster and seamlessly and quickly move to the latest cloud-native Temenos technology.

Temenos also continues to improve the efficiency of its code to minimize its environmental impact, by 32% in the latest software release validated by GoCodeGreen.

Kalliopi Chioti, Chief Marketing and ESG Officer, Temenos, said: “Temenos is leading the transition to SaaS and a more sustainable banking industry. To be recognized once again as a leader in the most prestigious ESG ratings worldwide, such as DJSI, S&P global, Sustainalytics, and EcoVadis, demonstrates our commitment to sustainability and the positive impact we have supported our clients in their transition to a low-carbon economy and achieve their ESG goals on Temenos Banking Cloud.”

Temenos extended its leadership in the Dow Jones Sustainability Indices with the highest CSA score (76/100) in the 2023 S&P Global Corporate Sustainability Assessment (CSA) out of 359 companies assessed in the Software industry. Only 759 companies are included in the 2024 S&P Sustainability Yearbook out of more than 9,400 companies assessed, and Temenos is the only Software company that achieved top 1% distinction. The company also ranked top 1% in Sustainalytics out of 443 companies assessed in Enterprise and Infrastructure Software sub-industry and the top 1% in Ecovadis out of over 85,000 companies assessed from all industries worldwide.

An overview of Temenos’ environmental roadmap towards a net zero economy and more information about the company’s ESG achievements are available here.

Tradefeedr, the leading network for FX trading analytics and collaborative data sharing, and LSEG FX, today announced plans to enter into a strategic partnership to integrate Tradefeedr’s unified data APIs within the LSEG FX trading ecosystem, including LSEG’s leading venue FXall and flagship workflow tool, LSEG Workspace. This partnership will enable a new standard for automated FX trading by seamlessly linking decision-making and execution workflows and facilitating a data-driven dialogue between sell-side liquidity providers and the asset managers, hedge funds, and corporates that transact over LSEG’s extensive network.

The initial scope of the partnership intends to cover a range of areas, including:

• Pre-trade decision support for LSEG FX buy-side and corporate customers
• Liquidity optimization and reporting for LSEG FX bank and broker customers
• Delivery of Tradefeedr analytics integrated within LSEG Workspace

Balraj Bassi, CEO & Co-founder of Tradefeedr, said, “We see our partnership with LSEG FX as a pivotal moment for Tradefeedr. LSEG FX is the leading infrastructure provider in the FX market, and this partnership will bring great value to all clients as integrations go live. As our Open APIs gain market traction, they are becoming the new standard for trading analysis, decision support and buy-side to sell-side collaboration. This partnership will enable us to bring new clients and Liquidity Providers to the Tradefeedr network, which will drive the interoperability of data and standards, enhance market transparency, and further improve FX analytics for the benefit of all participants.”

Dean Berry, Group Head of Workflows at LSEG, said, “Tradefeedr will be a welcome addition to the LSEG Workspace and LSEG FX ecosystems. By bringing together LSEG Workspace, FXall, and Tradefeedr, we aim to deliver another key element in our strategy to empower customers with data, analytics, and workflows across the trade lifecycle. We look forward to delivering the planned solutions with Tradefeedr in FX, and to exploring further collaboration across our services in the future.”

Tradefeedr’s award-winning data analytics network includes 21 leading Liquidity Providers, more than 50 major buy-side firms, and 10 trading platforms. The result is a consistent view of trading data combined with advanced independent analytical tools. The firm recently announced the formation of its Client Advisory Group, comprised of distinguished leaders from leading buy-side institutions.

ClearBank Ltd., the enabler of real-time clearing and embedded banking for financial institutions, today announces its partnership with digital investment platform Wealthify, which has enabled the company to launch its first Instant Access Savings Account.

The partnership allows Wealthify to provide this innovative savings account to its customers. The account tracks the Bank of England’s base rate and currently offers an interest rate of 4.91% AER (Annual Equivalent Rate)/ 4.80% gross*.

Founded in 2016 and backed by Aviva, Wealthify is an app and web-based wealth platform that in addition to its savings account offers a range of investment products, including Stocks and Shares ISAs, Junior ISAs, Self-Invested Personal Pensions, and General Investment Accounts — all of which are managed by a team of investment experts.

ClearBank does not lend, provide credit or invest and all sterling client funds are held at the Bank of England. Eligible funds held in a Wealthify savings account can be protected by the FSCS up to £85,000**.

“The way people save has evolved rapidly over the last decade. People want more from their money, and choices during different economic conditions, and we’re thrilled to provide it to them. Wealthify’s savings account - powered by ClearBank - offers speedy setup, a great rate, and the ability to see savings and investments all in one place – a holistic view of your finances, at your fingertips.” said Andy Russell, CEO, Wealthify.

“We’re delighted to announce Wealthify as an embedded banking partner and play our part in the launch of their new savings account,” said Charles McManus, CEO, ClearBank. “For wealth management experts like Wealthify, our embedded banking offering is an efficient way for them to focus on quality customer service, without spending unnecessary time and resources on licenses or outsourced projects.”

NCR Atleos Corporation, a leader in expanding financial access for financial institutions, retailers, and consumers, today announced that Banco Sabadell, one of the largest banks in Spain, has selected Atleos as its ATM network partner to provide its customers with easy, secure access to cash and financial services outside of its branches.

Banco Sabadell customers will soon be able to transact with over 1,400 Atleos-owned and operated ATMs in Spain in trusted retail locations including convenience stores, supermarkets, and shopping centers. By selecting the proven experts at Atleos to provide an end-to-end ATM network solution, Banco Sabadell will reduce complexity and boost operational efficiency, while providing optimum availability and access for customers.

“We wanted a trusted partner to provide an ATM network outside of our branches, as an outsourced service,” said Daniel Pelluz, Head of Cards, Retail Banking of Banco Sabadell. “We chose Atleos for their proven track record of success owning and operating ATM networks, and we are delighted that we can deliver an exceptional customer experience outside of our branches, in a way that is operationally efficient for us.”

“By utilizing Atleos’ ATM network, Banco Sabadell is extending its network of branches,” explained Diego Navarrete, executive vice president, Global Sales for Atleos. “We are excited to expand our partnership with Banco Sabadell, so their customers can access financial services when and where they prefer.”

Tietoevry Banking, the market-leading provider of financial SaaS solutions based in the Nordics, has signed a contract with Butterfield in Guernsey to provide a state-of-the-art credit card processing platform as well as card production and personalization services using sustainable payment cards produced from recycled plastic.

Deployed as software-as-a-service (SaaS), Tietoevry Banking’s credit ledger offers end-to-end credit card transaction processing, dispute handling, financial crime prevention, customer support, and mobile and wallet-based payments.  

Butterfield’s credit card offering to Guernsey and Jersey residents, with credit cards issued from Guernsey, will have an environmentally friendly profile and encourage spending at local businesses with the ability for cardholders to earn rewards via cash-back promotions, with a percentage of every spend going to local charities. 

Alan Bain, Managing Director, Butterfield Bank (Guernsey) Limited said, “We are pleased to be working with Tietoevry Banking, offering personal credit cards for residents of Guernsey and Jersey, issued from Guernsey. We have chosen to issue Tietoevry Banking’s sustainable card made of 95% recycled PVC plastic as we continue our pledge to operate responsibly, in alignment with universal sustainability principles.” 

With its heritage in the Nordics, one of the most digitized regions in Europe, and with a strong presence in the UK serving over 23 banks, Tietoevry Banking has built an industry-standard and sustainable market-leading payment card service. 

“We are delighted to be working with Butterfield. This partnership underpins our growth strategy in the UK and Ireland of providing scalable, sustainable, and secure cloud-based card services that meet the industry’s regulatory requirements and offer superior user-experience for both small and large banks,” said Hans Sjölund, Head of Card Sales & Business Development in Tietoevry Banking. 

Trading Technologies International, Inc. (TT), a global capital markets technology platform provider, today announced a definitive agreement for TT to acquire ATEO SAS, a leading provider of post-trade solutions for listed derivatives, expanding TT’s reach into clearing and other middle-office technologies and services. Terms of the transaction, expected to close on Feb. 29, were not disclosed.

The two firms entered into a strategic partnership in late 2022 to deliver a fully integrated, comprehensive post-trade allocation service for sell-side banks, brokers, and futures commission merchants (FCMs). The acquisition brings ATEO’s full line of middle-office solutions into the TT infrastructure.

TT CEO Keith Todd said: “We’ve enjoyed an outstanding working relationship with the ATEO team since we embarked on our partnership in 2022, and we came to the conclusion that we can create an even stronger value proposition and end-to-end offering by bringing the entire firm and all software modules into the TT family of offerings. ATEO has both highly respected technology and established trusted relationships with a wide range of leading banks, brokerage firms, trading houses, and professional traders. The total addressable market for middle-office clearing solutions is at least $100 million, with plenty of room for growth in market share.”

Laurent Courbin, Founder & Chief Executive Officer of ATEO, said: “Since 2000, ATEO has provided premier middle-office solutions to our clients, with functionally rich and reliable software. While we have already attracted some of the leading firms in the industry, we now have the ability to scale significantly as part of the TT team and infrastructure, supporting more clients of every size, regardless of the scope of their needs.”

David Romeo, Managing Director of ATEO, said: “This will also bring our existing clients and those in our pipeline easy access to the TT platform and the full range of services the firm provides. Giving our clients the ability to manage their trading activities from pre-trade risk to post-trade allocation and clearing through TT’s multi-asset platform will provide a meaningful competitive advantage.”

ATEO will operate as a global managed service hosted in TT’s data centers. ATEO’s post-trade allocation engine is already fully integrated into the TT order management system (OMS), providing TT OMS clients with seamless access to the functionality.

Among ATEO’s products are: TEO Derivatives, a global order management system dedicated to pure brokerage environments and used by many of the world’s leading inter-dealer and executing brokers, including the vast majority of brokers in London; the LISA Clearing Engine, a widely adopted trade matching and clearing solution enabling firms to process business across all clearing houses globally and offer tailored services to their customers; and UGO, a set of gateways and standardized clearing application programming interfaces (APIs) providing firms with the ability to develop or feed in-house solutions through scalable trade feed standardization and high throughput for all clearing activities.

COCA, the pioneering crypto wallet app, has announced the initial rollout of its Virtual Cards, following the success of its Early Access Program which has attracted thousands of eager users across Europe.

This strategic decision highlights COCA's dedication to offering smooth, secure, and user-friendly financial services technology that connects traditional banking with cryptocurrency, allowing users to conveniently make transactions online and at over 40 million merchants across 200+ countries, directly using their cryptocurrency holdings.

Key Highlights of COCA's Early Access Success and Virtual Card Rollout:

• COCA's Early Access Program has attracted thousands of participants, ranging from crypto enthusiasts to fintech innovators, all excited to explore the future of financial transactions.
• By being the first to market with non-custodial Virtual Cards in Europe, COCA is setting a new standard for crypto-based financial products, providing unmatched convenience and accessibility to its users.
• The COCA non-custodial Virtual Card allows users to spend their cryptocurrency just like traditional fiat currency, eliminating the need for complicated exchanges or transfers, and making it easier than ever to incorporate cryptocurrency into everyday transactions.
• True to COCA's mission, the Virtual Card feature is designed with simplicity in mind, eliminating common barriers such as seed phrases and offering a straightforward, intuitive interface.
• Leveraging cutting-edge technologies such as MPC (Multi-Party Computation) and Anonymous Biometric Backup, COCA ensures that users' assets and identities are protected at all times.

Following the successful launch in Europe, COCA plans to expand the availability of its Virtual Cards to other regions, including APAC, the USA, and LATAM, in the coming months. This product is not intended for UK residents.

This expansion is part of COCA's broader strategy to make cryptocurrencies a practical and convenient part of daily financial activities for people around the globe.

Visa, a global leader in digital payments, announced extended digital wallet capabilities within Visa Commercial Pay, a suite of B2B payment solutions built in partnership with Conferma Pay, the world’s foremost provider of virtual payments technology, to revolutionize how businesses manage transactions globally.

The innovation enables financial institutions to add virtual corporate cards into an employee’s digital wallet – including third-party wallets such as Apple Pay and Google Pay – to enhance convenience, security, and flexibility for corporate users. It coincides with a significant expansion of Visa Commercial Pay across the Latin America & Caribbean region, reinforcing Visa’s commitment to, and leadership in, enabling streamlined, secure, and efficient B2B payments in a locality known for its diverse and dynamic business landscape.

Visa Commercial Pay includes virtual card B2B payment solutions developed to improve cash flow for businesses and reduce outdated manual processes. Since its launch in 2020, it has helped corporates move away from traditional business payment methods to more automated and secure processes. Visa’s continued innovation and leadership in virtual card solutions comes as a recent report from Juniper Research found that by 2028, global virtual card spend will have increased by 355%, up from $3.1 trillion in 2023.1

The new and improved Visa Commercial Pay Mobile will provide a commercial token account with configured payment controls allowing for an efficient payment experience across both Point of Sale and CNP payment methods. The transformative approach utilizes advanced tokenization technology to minimize the risk of fraud and provide a secure payment environment, while enabling businesses to initiate transactions seamlessly, enhancing overall financial agility.

“We’re empowering businesses with on-demand and secure payments, giving them the flexibility and mobility of virtual, mobile transactions, which is essential in today’s dynamic business environment,” said Gloria Colgan, Senior Vice President, Global Product at Visa Commercial Solutions. “Our solutions are designed to meet the needs of enterprises across the world, and in expanding to the Latin America & Caribbean region, we’re providing these businesses with the tools to thrive in an increasingly digital business landscape. Alongside our partners Conferma Pay, we’re delighted to be taking our enhanced capabilities to customers globally.”

Regions Bank will be the first Visa collaborator to roll out the enhanced digital wallet capability for its Treasury Management customers. Regions operate in high-growth markets across the Southeast, the Midwest, and Texas, with Commercial Banking clients including a wide range of employers, each with its own unique payments and cash-flow needs.

“A superior client experience is at the heart of our value proposition for business clients,” said David Lapaglia, head of Commercial Card Product and Strategy for Regions. “Visa Commercial Pay is the ideal complement to our already-enhanced selection of products and services. Visa understands financial-service providers deliver greater value when they give clients more convenience, along with more intuitive, time-saving solutions. We share in that vision, and by building on our digital wallet capabilities, Regions is reinforcing its commitment to helping our business clients grow and thrive.”

Following its successful launch in the Asia-Pacific, Europe, Middle East & Africa, and North America regions, Visa Commercial Pay will be available for customers in Latin American & Caribbean later in 2024.