Iliad Solutions, a global leader in payments testing, has announced the appointment of Kevin Emery as Chief Commercial Officer. Kevin will oversee commercial activities globally, responsible for sales and marketing in existing markets, and new market development.

Kevin brings a wealth of innovative strategies and experience in the payment industry to Iliad Solutions. He has spent over 20 years in the payments market working for solution providers, as well as payment schemes, like MasterCard and Discover. He joins Iliad from UL Solutions, where Kevin oversaw commercial organizations globally, driving profitable growth, and solution selling with a data-driven approach. Prior to his most recent role at UL Solutions, he led the payment services business unit charged with P&L responsibility for UL Solutions global operations. 

Anthony Walton, Iliad Solutions’ CEO comments: “We are excited to have Kevin join Iliad as we embark on our next phase of growth. Kevin brings years of experience in the Payments Industry commercializing technology solutions. He is a key appointment to Iliad as we further expand our commercial presence internationally.”

Mr Emery added: “I am thrilled to be joining Iliad as Chief Commercial Officer at this critical and exciting time. Technology is driving huge change in the payments market, Iliad’s cutting-edge software provides a highly differentiated solution offering for Acquirers, PSP, Gateways and Payment Schemes. I look forward to applying my long tenure of commercializing payment testing solutions to ensure Iliad grows as a recognized standard of enabling implementations of payment solutions globally.”

IntellectAI, the WealthTech and Insurtech of Intellect Design Arena driven by advanced AI-led solutions, has been chosen as the winner in the "Artificial Intelligence (AI) Application  (Pan-Asia)" category at the 11th Annual WealthBriefingAsia Awards 2023. The annual WealthbriefingAsia  Awards program recognises the outstanding organisations in Asia Pacific and India, which an elite panel of independent judges deemed to have ‘demonstrated innovation and excellence during the last year’.  

WealthForce.AI leverages artificial intelligence to empower relationship managers and deliver a modern customer experience. It is driven by eMACH.ai standards, featuring Event-driven, Microservices enabled, API-led, Cloud-native, Headless architecture and with embedded AI.  

Hazeltree, the leading provider of treasury and liquidity management solutions for the alternative asset management industry, announced today the appointment of Richard Winter as the company’s Chief Technology Officer. Richard brings over 20 years of expertise in FinTech and innovating and delivering leading-edge software solutions for financial institutions. 

Richard joins Hazeltree from Finastra (formerly MISYS), one of the world’s largest FinTech firms, where he was Vice President and Head of Technology Global Services. Prior to Finastra, Richard spent more than 14 years at Capgemini Financial Services UK, where he held multiple technology leadership roles, including head of Application Development and Maintenance, deputy head of Technology, Development and Integration, and head of the Technology Consulting Group. Richard is a graduate of the University of Greenwich, UK, with a BSc in Computer Science.   

“The lifeblood of any SaaS business lies in its ability to innovate,” said Doug Haynes, Executive Chairman of Hazeltree. “We’re proud of Hazeltree’s pioneering role and track record in solutions that improve returns for asset managers. We look forward to Richard taking our culture of market-focused innovation to the next level.”

“Richard has an outstanding background in delivering technology solutions for financial institutions, spanning all aspects of software engineering, development, infrastructure, operations and delivery,” said Tushar Amin, Hazeltree’s President and Chief Executive. “Richard’s leadership will be immensely valuable as we continue to expand the value we provide to our customers.”

“Hazeltree has become indispensable for hedge fund and private equity firms, as awareness of the importance of active treasury for alternative asset managers grows,” said Richard Winter, Chief Technology Officer of Hazeltree. “Joining at this point in Hazeltree’s evolution presents an exciting opportunity to extend Hazeltree’s leadership and differentiation in the sector.” 

In his new role, Richard will report to Tushar Amin, President and Chief Executive Officer of Hazeltree. He will be based in Hazeltree’s London office and in the firm’s recently opened global engineering hub in Bournemouth, UK.

The appointment of the Chief Technology Officer follows several key appointments at Hazeltree over the last year: Tushar Amin was appointed as CEO in April 2022, Sandy Weil as Chief Revenue Officer in June, Sonia Spicehandler as Chief People Officer in August, and Kevin Held as Chief Financial Officer in September 2022. In May 2023, Hazeltree announced Jeremy Payne as Chief Product Officer.

Brightflow AI, the financial data and intelligence platform that empowers small businesses to take control of their cash flow and make data-backed decisions, today announced the acquisition of leading fintech company CircleUp, allowing Brightflow AI to deepen customer insights and strengthen artificial intelligence using the Helio insights engine to better serve online and offline brands. 

Helio tracks 1.6M+ brands and 16M attributes across 200+ data sources and 4PB of data to provide the most comprehensive insights on emerging brands and trends in consumer packaged goods (CPG). Brightflow AI will integrate the Helio data repository to promote the efficacy of its own data platform as it builds the most robust AI-powered financial insights tool in the industry. Terms of the deal were not disclosed.

“Brightflow AI provides equitable access to data and growth opportunities to the everyday business owner,” said Robbie Bhathal, CEO and Co-founder of Brightflow AI. “By acquiring CircleUp’s Helio platform, we’re able to deepen our data, machine learning, and analytics capabilities, strengthen our own financial intelligence platform, and provide our customers with the most comprehensive solution available.”

Today, 82% of small businesses fail due to cash flow complications, according to a study by U.S. Bank. Brightflow AI prevents small business owners from being blindsided by their finances and delivers the forecasts, analyses, and recommendations brands need to make strategic adjustments in real time for sustainable growth. The Helio data platform will strengthen Brightflow AI’s machine learning algorithms, which it uses to build its cash flow forecasts, cash management tools, and underwriting analyses.

"We are excited to create a new standard for financial intelligence for consumer companies," said Ryan Caldbeck, Chairman and Founder of CircleUp. "The acquisition by Brightflow AI allows us to provide customers with the data, insights, and tools they need to grow their businesses faster and more efficiently."

“Our mission is to help entrepreneurs to thrive by giving them the capital and resources they need. The acquisition by Brightflow AI is a positive step forward for CircleUp and the industry,” said Rory Eakin, Founder of CircleUp. 

Small business owners can access Brightflow AI’s financial data and intelligence platform, including its cash flow forecasting and business credit scoring tools, by signing up for a free Brightflow AI account.

Volume, the innovative UK-based FinTech, continues to reshape the payment landscape with the launch of Payment Links—an unparalleled solution empowering businesses to create a ubiquitous payment experience both online and offline. In response to the soaring demands of modern consumers, Volume's Payment Links streamline the payment process, enabling businesses to accept payments from customers with just one click, while significantly reducing transaction fees (totalling $100 billion annually!) and minimizing frauds.

In today's fast-paced world, consumers interact with companies through countless channels, from mobile apps and websites to social media and customer service hotlines. The omnichannel experience is no longer a luxury but a necessity. However, the complexity of creating a seamless payment experience has been a significant challenge for businesses (only 11% of organizations claim to have a sophisticated omnichannel implementation)—until now.

Volume's ground-breaking Payment Links solution enables businesses to effortlessly send payment links via SMS, email, or QR code, revolutionizing the way they collect payments. With a simple click, customers can complete transactions using an open banking payment method, providing unmatched convenience and speed. Moreover, this innovative solution helps businesses reduce credit card fees by up to 75%, allowing them to allocate resources more effectively and focus on exponential growth.

In an industry dominated by giants, Volume is already making waves, pulling hundreds of businesses away from Stripe—the leading payment platform. Stripe's recent increase in debit and credit card fees created turmoil in the sector, prompting businesses to seek alternatives. Volume already helped thousands of merchants and consumers to save millions of pounds in hidden fees across the UK and continues its skyrocketing growth.

Volume's Payment Links have emerged as the preferred choice for businesses looking to improve their payment processes and avoid excessive fees, establishing Volume as a disruptive force in the payment space with millions of GBP processed already with their private beta release.

“Our Payment links solution delivers a truly seamless experience for merchants to collect payments via QR codes or payment links with a payment confirmation for both sides,” Volume Co-founder and Chief Technology Officer Krzysztof Tarnawski said in the release.

“We’re excited to launch the Payment links feature,” said Simone Martinelli, the CEO of Volume. “This solution will enable merchants to provide a more seamless and convenient payment option for their customers, ensuring that they can complete transactions with ease within seconds from anywhere they are in one-click.”

“We have been using Volume to accept payments, and we’re very impressed with its simple and efficient functionality. Our customers have a truly seamless experience when completing payment for their holidays booked with us. The process is very quick and easy to follow, taking seconds to complete the payment.” - Gianni Bonuglia, Managing Director, Sardatur Holidays

Payment Links offer a range of benefits for merchants, including:

• Convenience: With this solution, businesses can accept payments without the need for customers to physically visit their store or website, making it easier to complete transactions.
• Security: The payment link is designed to be highly secure, ensuring that transactions are processed safely and securely.
• Flexibility: The feature can be used in almost any channel, making it very convenient for everyone.
• Cost-Effective: There are no additional fees for using Payment Links, making it an attractive solution compared to traditional payment methods.

NatWest Group has today completed its acquisition of a majority shareholding in workplace savings and pensions fintech, Cushon.

In February 2023, NatWest Group agreed to acquire 85% of Cushon for £144m, with 15% retained by Cushon management. This acquisition was subsequently approved by the FCA in May.

With FCA approval for a change in control received in May and the acquisition process completing today, Cushon is now part of the NatWest Group within the Wealth Businesses. For NatWest Group, Cushon is a strategic acquisition that fuels sustainable growth and diversifies non-interest income streams.

Cushon’s primary products are its workplace pension and range of workplace ISAs, including Junior ISAs, Lifetime ISAs and General Investment Accounts. Its workplace pension offers an investment strategy designed to drive down the financed CO2 emissions of customers' investments.

The acquisition provides NatWest Group with a leading tech-enabled suite of financial wellbeing products and services to offer its commercial customers and, consequently, their customers employees.

Following a successful pilot in 2022, the Cushon proposition will initially be offered to NatWest Group’s commercial customers in their Commercial & Institutional and Coutts Wealth businesses, through the bank’s relationship managers.

It is planned that this proposition will be soft launched in Q4 2023 with a full launch in Q1 2024. Cushon will continue delivering on its organic growth ambitions in the workplace pensions and savings market, in addition to distributing to NatWest Group’s commercial customers.

Now part of the NatWest Group, Cushon will accelerate its rapid growth strategy with ongoing investment in the next phase of the business and significant scaling to the product, engineering and growth teams. Mo Syed, Head of Asset Management & Chief Investment Officer, NatWest Group will serve as the Chair of the acquiring entity Board (NW A Holdings Limited). Andy Gray, Managing Director of Commercial Mid-Market, NatWest Group will also join this Board.

Peter Flavel, Chief Executive of NatWest’s wealth businesses, said: “We’re delighted that we can now officially welcome Cushon into NatWest Group. We believe that we have a real opportunity to help our customers plan and invest better for their future, improving their financial wellbeing.”

Ben Pollard, CEO and co-founder of Cushon, said: “This is the next exciting chapter for a great British fintech as we join forces with a great British bank. Together with NatWest Group, we can’t wait to drive more positive disruption and innovation in workplace savings and pensions, and help millions more people across the UK build a feel-good future. What a great success story for the UK fintech sector!”

Delta Capita, the Financial Services division of Prytek, a leading global Capital Markets consulting, managed services and technology provider has welcomed George Collier as its new Global Head of CLM Sales.

Based in London, George will be responsible for leading the CLM sales with a priority on technology-enabled sales and business development. He will be working closely with the global sales and marketing teams.

George brings more than 25 years of experience of sales and business development across financial markets. George will be joining Delta Capita from his most recent role as Director at iMeta Technologies providing onboarding, KYC, AML & CLM software solutions. Prior to this, George has held senior sales and business development roles in CLM and data management at Markit, Asset Control and GoldenSource.

Gary McClure, Head of Client Lifecycle Management, Strategic Opportunities at Delta Capita commented: “We are thrilled to announce George as our Head of CLM Sales. With his extensive market knowledge, and a passion for driving success, we are confident that he will greatly contribute to Delta Capita’s growth and drive our service offering.”

George Collier, Global Head of CLM Sales at Delta Capita adds: “I’m delighted to be joining Delta Capita at an exciting time of growth for the company. I’m looking forward to working with the DC team to deliver successful outcomes for our clients.”

XONAI, a cloud optimization solution helping organizations reduce data infrastructure costs, announced today it has closed $3.5 million in Seed funding. 

London-based Kadmos Capital led the round with participation from investors Adara Ventures, Deep Science Ventures, Nauta Capital, Notion Capital, and notable angels Mehdi Ghissassi, Director of Product Management for Google DeepMind, Martin Gould, former Head of Product for Spotify’s Content Platform, among others.

As cloud costs continue to skyrocket, data-driven organizations are increasingly investing in solutions to reduce cloud infrastructure spend. However, the margins for cost reduction in existing solutions are tied to how much-overprovisioned cloud resources can be right-sized. This leaves no margin for further improvement as these are not designed to optimize what is allocating those resources to begin with - data pipelines with demanding resource requirements.

XONAI tackles the challenge of optimizing what fundamentally drives up costs. “Even assuming infrastructure is perfectly rightsized, that software can ultimately only run as fast as it was originally designed to do so,” said Leandro Vaz, Co-Founder of XONAI. “We’ve made it possible to run those pipelines faster and cheaper with transparent machine code optimization specialized for big data analytics.”

XONAI’s differentiation lies in its non-invasive approach that sits between the hardware and the execution layer of the software it integrates with, providing immediate acceleration to data pipelines without any migrations or code changes. “XONAI increments the threshold for infrastructure optimization by allowing software to better utilize hardware – not unlike swapping an internal car engine with a faster and greener one,” added Leandro.

The addressable market for XONAI’s current solution is massive, encompassing dedicated petabyte-scale clusters running on market-leading data processing software, such as Apache Spark. The solution achieves a baseline 3x ROI on activation, immediately freeing budgets to allow engineering teams to shift focus from infrastructure optimization to new value-adding endeavours.

“We embarked on a mission to support data-driven organizations whose business imperatives rely on operating data infrastructure as cost-efficiently as possible. XONAI reliably reduces costs for running large-scale data analytics and without disruptions to operations,“ said Leandro. “We are very honoured to welcome Kadmos Capital as a strategic partner on this mission and help us through the next stage of growth.”

“Over the last decade, we have seen companies create analytics insights across every aspect of their trading activity. Now we are seeing an increased focus on the cost of those data pipelines. XONAI has arrived at exactly the right time to address this problem, and done so with an extremely clever and low-disruption approach. We are pleased to back XONAI in the next phase of growth,” said Graham York, Partner at Kadmos Capital.

The new funding will help XONAI further develop solutions on top of the increased spending reduction margin it adds to data analytics workloads at scale. “It’s not just about making workloads run faster. We have observed significant results in reducing the pressure these workloads put on large clusters, both on memory and network utilization. This allows a far wider range of potentially cheaper hardware selection for the customer, which we want to automate as our next step.”

ePay Summit Europe, held in central London on 17th May 2023, marked another successful edition of the premier conference dedicated to the payments and eCommerce industry.  The event, now in its third year, enables leading banking professionals, e-payment solution providers and leading retailers, to network, learn from each other, and strengthen partnerships and establish new connections.

With an impressive line-up of leading ePayment sponsors, the event provided a valuable platform for industry professionals to connect, collaborate, and explore the latest trends and innovations in the ePayments industry. 

Andrew Lawrence, Head of Gateway Transformation Barclaycard Payments said “It was a privilege to attend this years ePay summit Europe at such a transformational time for the eCommerce payments industry. I’m looking forward to seeing how technology shapes the future of eCommerce payments”.

The event witnessed an enthusiastic and engaged audience, key themes that resonated strongly with the community included the need for greater alternative payment method availability in a rapidly evolving digital landscape. Open banking, a transformative force in the industry, was also a topic of great interest, with discussions centring particularly around its potential and implications for the future of payments.

Valentyn Ktopov, CTO @ N-ix commented “Our team found the participation in the ePay Summit to be an incredibly valuable and enriching experience. Delivering the keynote speech and engaging in panel discussions allowed us to share our insights on the major payments trends. Moreover, we were delighted to connect with industry peers, establish new relationships, and gain inspiration from the event. We would like to express our sincere appreciation to the ePay Summit for providing an outstanding platform for collaboration and knowledge sharing.”

Preventing fraud emerged as a critical concern for the industry, with experts sharing insights and strategies to enhance security measures and protect both businesses and consumers in an increasingly digital and interconnected world. The advent of Web3 and the metaverse also sparked lively discussion, as the event explored how these emerging technologies might shape the future of online transactions and consumer experiences.

"Organisations that are leveraging alternative data from digital signals coupled with machine learning technology are managing to increase their levels of fraud detection and prevention on both merchant and consumer risk assessment," said Alex Tonello, CRO at Fido. 

Overall, ePay Summit Europe 2023 once again reaffirmed its position as a leading conference in the payments and eCommerce domain, providing a dynamic platform for industry leaders, experts, and innovators to come together, share insights, and drive the industry forward.

"It was great to see B2B payments being added to the agenda of an ecommerce-focused event. It’s a vital area that isn’t talked about enough and there are some key challenges to address to empower ecommerce businesses to streamline their payments capabilities and costs. Embedded payments can offer a fantastic opportunity to achieve this for both ecommerce merchants and their suppliers, so it was a pleasure to share our insight on this and hopefully give the audience some food for thought." Helen Owen – Chief Marketing Officer at Andaria

Magic, the leading wallet-as-a-service (WaaS) provider, today announced it has raised $52 million in a strategic funding round led by PayPal Ventures, with participation from Cherubic, Synchrony, KX, Northzone, and Volt Capital. The new round brings the total raised to more than $80M.

Magic, the leading wallet-as-a-service (WaaS) provider, today announced it has raised $52 million in a strategic funding round led by PayPal Ventures, with participation from Cherubic, Synchrony, KX, Northzone, and Volt Capital. The new round brings the total raised to more than $80M.

Magic is enabling web3 mass adoption by serving as the de facto WaaS provider for companies that are searching for safe and easy ways to bring their customers over to web3. Magic provides a seamless enterprise-grade, low-effort solution to web3 migration that is opening up lucrative new avenues from customer loyalty programs and digital collectibles to employee recognition, ticketing, memberships, and more. Magic’s customers are some of the most trusted brands across retail, music, fashion and gaming including Mattel, Macy’s, Xsolla, Immutable, and more.

“Since launching in 2018, we have witnessed a steady increase in web3 use-cases among large enterprises across a wide variety of verticals. Global brands have realized the potential of blockchain beyond crypto and are utilizing it to engage with their customers and monetize the experience in new ways. Magic is working closely with Fortune 500 companies to bring their web3 use cases to everyday users,” said Sean Li, Magic’s co-founder and CEO. “Our vision is to ignite new economic opportunities by enabling authentic digital ownership for everyone – starting with building the necessary infrastructure to onboard the next billion users to web3. With this new funding, we’re focused on expanding functionality and enabling growing use cases to continue delivering more value to our customers. We are also looking forward to making a deeper integration within the EU and APAC.”

“Mass adoption of web3 is a hot topic, and Magic is facilitating this with a safe and simple solution,” said Alan Du, Partner at PayPal Ventures. “Magic’s wallet creation service allows companies to reach millions of users on their apps and onboard customers who are new to web3. We’re proud to be investing in Magic and believe the company will help drive the growing number of web3 use-cases amongst global brands.”