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.

In line with its commitment to providing the latest in digital payments, Al Baraka Bank announced its partnership with Mastercard, a global leader in digital payments technology, to introduce an array of premium consumer, commercial, and SME products, in Egypt. This strategic move is set to effectively cater to the needs of individuals in the realm of digital payments and streamline corporate expense management, ushering in a new era of digitization and efficiency in the payment ecosystem.

Abdel Aziz Samir, Deputy CEO, Consumer Banking at Al Baraka Bank, expressed his delight with the partnership, stating, "This partnership reflects our commitment at Al Baraka Bank to providing a comprehensive suite of cutting-edge solutions and diverse services, offering a seamless digital experience for our customers. Through this collaboration, we aim to expand the range of financial services provided, attract diverse customer segments, and meet all their needs through services and products tailored specifically for them. This collaboration contributes to advancing digital transformation and financial inclusion efforts, promoting electronic payment systems, and positively impacting the economy as a whole."

“Our partnership with Al Baraka Bank is a key milestone in our journey to deliver on the shared vision of building a sustainable and resilient digital economy that is inclusive for all. This collaboration will enable Al Baraka Bank to empower individuals and businesses with world-class innovative offerings and payment solutions to embrace the benefits of digital transactions by making transactions safe, seamless, convenient, and rewarding,” said Khalid Elgibali, Division President, MENA, Mastercard.

This collaboration is poised to redefine the way individuals and businesses handle their finances, marking a significant step towards a more digitized and efficient payment ecosystem in Egypt. The collaboration between the two industry leaders signifies a significant milestone in the financial sector’s journey toward digital transformation, redefining the banking experience and setting new standards for customer convenience, payment security, and financial innovation.

This collaboration emphasizes the joint commitment of Al Baraka Bank and Mastercard to providing premium consumer products and driving the transition away from traditional payment methods, aiming to better serve customer needs and reach new, untapped market segments.

GCEX (GCEX Group), a regulated digital brokerage that enables brokers, funds, and professional traders to access deep liquidity has partnered with Crossover Markets Group, Inc.,  a digital asset technology firm focused on meeting the unique liquidity requirements of institutions. Through this partnership, GCEX clients will have access to Crossover’s execution-only crypto electronic communication network (ECN) to execute spot cryptocurrency transactions.

GCEX will provide brokerage services for spot cryptocurrency transactions and access to deep liquidity through its professional 24/7 service. The offering is tailored to institutions looking to partner with a regulated brokerage through either GCEX’s crypto-native platform – XplorSpot – or via API, enabling further adoption of digital assets across institutions and professional traders.

Lars Holst, Founder & CEO, GCEX commented, “With the increasing demand for digital assets, we are delighted to be partnering with Crossover, providing even greater opportunities for our institutional clients to access deep liquidity in digital assets. We are excited about the synergies and opportunities that this partnership will bring.”

Commenting on this partnership, Anthony Mazzarese, Co-Founder and Chief Commercial Officer, Crossover added, “We are excited to welcome GCEX to the CROSSx ECN as our newest venue participant. Crossover’s focus on speed, throughput and operational efficiency will help GCEX achieve tighter spreads and a lower cost to trade across their client base of institutional and professional investors, and this partnership will further enhance spot crypto liquidity.”

GCEX Group enables institutional and professional clients to access deep liquidity in FX and CFDs on digital assets, as well as digital assets spot trading and conversion, and offers a broad range of Forex brokerage and crypto-native technology solutions – XplorDigital. XplorDigital includes the firm’s plug-and-play solutions, ‘Crypto in a Box’ and ‘Broker in a Box’ and comprises of technology-agnostic platforms covering regulation, regulated custody solutions, staking solutions, safety of funds, tier 1 and deep liquidity, connectivity to the biggest price makers, advanced risk management, and innovative technology partnerships.

Headquartered in London, with multiple offices across the globe, GCEX is regulated by the UK’s FCA, registered with the Danish FSA as a VASP and currency exchange, and has been granted a Virtual Asset Service Provider license by the Dubai Virtual Assets Regulatory Authority. True Global Ventures are investors in GCEX.

Crypto Finance AG, part of Deutsche Börse Group, has reached another milestone in its history. The prudentially FINMA-supervised provider of institutional-grade investment solutions, custody, and trading for digital assets has now also secured four licenses from the German Federal Financial Supervisory Authority, BaFin. The licenses for its subsidiary, Crypto Finance (Deutschland) GmbH, include regulated digital asset trading, settlement, and custody services in Germany. The new licenses further strengthen the company’s role in the regulated European digital asset value chain. This achievement also highlights Crypto Finance’s commitment to providing seamless institutional-grade services within the regulatory framework and solidifies its position in advancing the digital asset ecosystem.

Stijn Vander Straeten, the CEO of Crypto Finance Group, states: “We are excited that Crypto Finance (Deutschland) GmbH is now licensed by BaFin, the highest benchmark in regulatory oversight, as a crypto custody provider in Germany. It distinguishes our offering as one of the few to meet these exceptionally high standards. This demonstrates our commitment to transparency and security but also positions us as a trusted entity in the market, contributing to the development of a reliable ecosystem for crypto assets”.

Eric Viohl, Managing Director Crypto Finance (Deutschland) GmbH, comments: “Crypto Finance offers a comprehensive approach as a one-stop-shop solution for digital assets. Our commitment to covering the entire value chain sets us apart and we are now proud to be able to achieve significant milestones in Germany, where we offer highly regulated services. Our offering goes beyond trading to include settlement, custody, and post-trade services, creating a seamless experience for institutional investors seeking access to the dynamic world of digital assets”.

Moneyhub has been named as a supplier of Crown Commercial Service’s (CCS) Open Banking Dynamic Purchasing System (DPS) framework for its Open Banking and Payment services. 

Crown Commercial Service supports the public sector to achieve maximum commercial value when procuring common goods and services. In 2021/22, CCS helped the public sector to achieve commercial benefits equal to £2.8 billion - supporting world-class public services that offer the best value for taxpayers.

Moneyhub is the leading data and payments platform built on Open Banking and Open Finance principles. Its solutions already help businesses in various sectors increase efficiency and offer consumers efficient, secure alternatives to card and cash payments. 

Through its work with clients such as Nationwide, Lloyds Banking Group, Standard Life, Legal & General, amongst hundreds of others, Moneyhub has proven the benefits of Open Banking and account-to-account payment solutions. Government organizations' ability to purchase Moneyhub services through the DPS will help more public sector services increase efficiency and experience the benefits that Open Banking delivers. 

Vaughan Jenkins, Managing Director of Partnerships at Moneyhub, comments: “At Moneyhub we're on a mission to enhance the lifetime financial wellness of people, their communities, and their businesses, and the public sector has a significant opportunity to benefit from and lead the way in the mass adoption of Open Banking solutions. The continued adoption of Open Banking technology will result in better outcomes for taxpayers and the country.”