AU10TIX, a global technology leader in identity verification and management, today announced that it has added seven executives to its growing team over the past year. These appointments are a strategic response to AU10TIX's significant growth and continuing global expansion.

Hanna Schindler has joined as Chief Revenue Officer (CRO). She is responsible for business development, sales, customer retention, loyalty, and customer experience across all facets of the company's operations. Schindler has 25 years of industry experience, including senior management business development roles at Amdocs and Bank Leumi. She also served as the CEO of PEPPER Global.

Erez Hershkovitz has joined as Chief Financial Officer (CFO). He has a demonstrated history of success in the complex financial environment of the high-tech industry, and is highly skilled in business and finance models, financial accounting, corporate finance, FP&A, taxes, due diligence, and M&A. He previously served as CFO for Voyager Labs and has also held senior financial positions with Check Point Software Technologies and EY.

Amazia Keidar has joined as Chief Marketing Officer (CMO). He previously served as the International VP of Field Marketing at Cellebrite, where he led the company's field marketing strategy, programs, and execution for six years. Before that, Keidar held senior sales and marketing positions at Microsoft, AllJobs, CA Technologies, and RISCO Group

Avidan Lamdan has joined as VP Research and Development (R&D). He has over 30 years of technical and agile expertise, with a focus on OTT and security. Lamdan previously served as CTO of nartis.ai, and has also held VP roles with Synamedia, Kaltura, and Tvinci.

Matan Shaham has joined as VP Product. He has over 25 years of industry experience, including 10 years of senior product management roles at Rapid7, BlinkOps and IronSource. Shaham has also served as Senior Director at Cognyte (formerly known as Verint Cyber Intelligence).

Moshe Naftaly has joined as VP Delivery and Operation. He brings 30 years of experience in the software industry, including 14 years with Amdocs as Delivery VP and 12 as programs lead for HP, Amdocs, Tech Mahindra, Vodafone Germany and more.

Chen Hofesh Katz has joined as VP of HR. She has 20 years of experience as VP of HR working with innovative technology companies, including Alcatel Lucent, Time to Know, GOARC and Attenti.

"We are thrilled to have these seven talented leaders on the AU10TIX team as we prepare for another year of extraordinary growth," said Dan Yerushalmi, CEO of AU10TIX. "This strategic expansion underscores AU10TIX's commitment to innovation, excellence, and continued leadership in the digital identity verification landscape."

nCino, Inc., a pioneer in cloud banking for the global financial services industry, today announced that Mechanics and Farmers Bank (M&F), the second-oldest African American-owned bank in the United States, is live on the nCino Cloud Banking Platform. The technology upgrade is helping M&F process loans more quickly and creating increased convenience and connectivity for the underserved markets it intentionally serves.

For 116 years, M&F Bank has been focused on a critical mission; providing access to capital to diverse communities. As a Community Development Financial Institution (CDFI), M&F must serve one or more target markets by designating at least 60 percent of financing activities to one or more low- and moderate-income or underserved communities. Through the partnership with nCino and the implementation of its Commercial Banking and Automated Spreading Solutions, M&F can more quickly complete the loan process, while driving a better experience for its customers and associates via a cloud-based and mobile-enabled single platform.

“Our pursuit at M&F is to reduce the wealth gap by providing access to capital that helps our customers achieve their goals,” said James Sills, President, CEO and Board Member at M&F Bank. “We’re excited to be using nCino, one of the best platforms in the industry, to foster this mission and empower our associates to meet the needs of our customers with excellence. The partnership between M&F and nCino has been terrific, and we look forward to continuing working together to execute on our strategic plan.”

“Working with nCino has been more than implementing software,” added Valerie Scruggs, SVP/CTO on loan from one of M&F’s big bank partners. “nCino worked with us from the beginning, ensuring our people were prepared for the transformation and had all the resources and information they needed to succeed with these new tools. True transformation takes a partnership, and that’s exactly what we have with the team at nCino.”

“The partnership we have with M&F Bank is foundational to the transformation the Bank is driving within their operations,” said Will Cameron, SVP of U.S. Financial Institutions at nCino. “We are proud to provide M&F with the technology platform they need to provide faster and easier access to capital for the communities they serve while strengthening its own performance and becoming more efficient.” 

ID Finance, a leading fintech in Spain and Mexico, has closed a financing of 150 million dollars with i80 Group, this being the largest financing round in the history of the Group. The capital obtained will be used to accelerate the expansion of Plazo, ID Finance's financial well-being app and the cornerstone of its strategic vision.

This operation is among the largest financing rounds closed by a Spanish Fintech in recent years, constituting a relevant milestone that drives the company to continue achieving its ambitious growth goals.

Boris Batine, co-founder of ID Finance , said: “This financing is not only a recognition of our past achievements, but a bridge to our future aspirations. With the support of the i80 Group, we are prepared to reach new heights in financial innovation and inclusion, making Plazo an indispensable tool for financial well-being, not only in Spain but beyond its borders. This agreement represents a turning point in our business trajectory and brings us closer to our goal of becoming the country's favorite financial app. Our journey has only just begun, and we remain committed to enriching lives through technology-driven financial innovation.”

Tamir Saeed, Managing Partner of UK-based asset manager Kingsway Capital and shareholder of ID Finance, said: “We are pleased to welcome i80 Group as a partner and are convinced that with their support ID Finance will will be reinforced in its mission to improve the financial well-being of consumers in Spain and Mexico. “This funding is a crucial milestone on the path to achieving the company’s goals as it immediately offers Plazo the opportunity to scale to the next level, and we are very excited for the next chapter in the company’s journey.”

Peter Frank, CEO of i80 Group, added: “At i80 Group we are delighted to have partnered with ID Finance, the market leader in consumer fintech, to expand its customer base and product offering. The company is in a privileged position to conquer an important space in the financial services market thanks to the combination of access to capital and financial well-being tools and services.”

Strong financial results in 2023

ID Finance continues to demonstrate remarkable financial resilience and growth. The Group recorded consolidated revenues of 180 million euros, with a consolidated net profit of 7.1 million euros, which represents a year-on-year growth of 13%.

The Spanish division of ID Finance continues to be the company's main profit driver, with new loan issuance reaching €266 million, revenue of €124 million, and net profit of €12.5 million. The consumer credit business in Spain continues to consolidate the company's leadership position in the market, continually improving customer quality and generating a return on equity of 56.1%. (*)

(*Unaudited financial data, information provided by the company).

Unlocking the Potential of the Plazo Financial Wellness App

The financing of i80 provides Plazo with unprecedented opportunities to expand its credit capacity and introduce innovative functionalities that provide its users with added value while continuing to refine its offering. Proof of this is the recent strategic alliance with Meeting Pros that exemplifies Plazo's commitment to continue expanding its service offering, providing users with free access to medical, legal, and veterinary consultations through the application.

In 2023, Plazo recorded notable growth, adding more than 190,000 customers since its creation in Spain in 2021. To leverage technology to improve people's financial well-being, Plazo has consistently offered a set of robust and adaptable products designed to meet the diverse financial needs of its users.

Plug and Play, a leading global innovation platform, announces the launch of its fintech startup accelerator program which will take place in both Frisco and McKinney, Texas. In partnership with the Frisco Economic Development Corporation and the McKinney Economic Development Corporation, through this new program, Plug and Play aims to create a collaborative ecosystem for fintech innovation in the North Texas region.

As one of the most influential innovation ecosystems in the world, Plug and Play is dedicated to connecting startups, investors, governments, corporations, and universities to drive innovation and foster collaboration. This program will offer startups the opportunity to work closely with mentors, access corporate partners, and participate in industry-specific events and workshops. Additionally, Plug and Play's global network of over 50 locations will provide startups with international exposure and valuable connections.

"We believe that fintech innovation is crucial in today's rapidly changing digital landscape," said Saeed Amidi, Founder and CEO of Plug and Play. "By launching our fintech program in both Frisco and McKinney, we are committed to fueling growth and adding value to the local economy of the North Texas region."

Frisco and McKinney have emerged as vibrant hubs for technological advancements and entrepreneurial activities. Last month, Plug and Play announced their presence in these locations, launching a Sportstech program in Frisco and an Enterprise & AI program in McKinney. By introducing the fintech program spanning across both locations, Plug and Play aims to provide a platform for local entrepreneurs to connect with industry experts, receive guidance, and secure investment opportunities. Plug and Play currently has over 10 additional locations that are focused on fintech including Paris, Abu Dhabi, Singapore, Tokyo, and others.

"Our partnership with McKinney and Plug and Play will compliment Frisco's position as a major asset to the region's strong financial services industry and catalyze our vibrant ecosystem of 165 plus fintech companies and more than 133 fintech investors in Frisco," said Jason Ford, President, Frisco Economic Development Corporation. "The North Texas Fintech accelerator will support local job growth and fuel recognition of Frisco as a global fintech hub for continued investment from Fortune 500 financial services firms, like Comerica Bank's Business and Innovation Hub and FIS Global's $777 million acquisition of Payrix, a Frisco-based Fintech platform."

"It's an honor to lock arms with our neighbors in Frisco in bringing the Fintech vertical of Plug and Play to Collin County and into our communities. Our partnership will serve to strengthen our region's startup ecosystem, resulting in wins that will accelerate our growing position as an international hub for tech talent and innovation," commented Michael Kowski, President and CEO of the McKinney Economic Development Council.

The fintech industry is experiencing rapid growth globally, transforming the way financial services are delivered and consumed. From digital payments and blockchain technology to artificial intelligence and cybersecurity, fintech innovations are revolutionizing the financial landscape. By attracting and supporting fintech startups, Frisco and McKinney are positioned to become key players in this disruptive industry.

Mastercard collaborates with the Egyptian Banks Company (EBC) the advanced payments network and domestic operator in Egypt. The collaboration marks a significant step towards fostering sustainable economic growth activities, further enhancing the digital payments landscape and driving inclusive economic development in Egypt.

Earlier, Mastercard, in collaboration with the Central Bank of Egypt (CBE) and EBC, had supported the implementation of card tokenization regulations by providing infrastructure to issuing banks across the country, expected to launch 2024.

Tarek Raouf, Executive Chairman and CEO, EBC, said: " EBC serves as the technological arm of the Central Bank of Egypt entrusted with developing and operating the national payment scheme and fostering the adoption of electronic payments. The collaboration with Mastercard represents an important juncture in the development of Egypt's payments ecosystem. Mastercard and EBC jointly work towards building digital payments infrastructure, establishing the wallets ecosystem, and pioneering advancements in tokenization. We have always believed that great value created through the successful partnerships between national and global enterprises, and we trust that this collaboration will reflect positively on driving the future of digital payments in Egypt."

Khalid Elgibali, Division President, MENA, Mastercard, said: "Over the past two decades, Mastercard has been actively involved in introducing cutting-edge digital payment solutions into the Egyptian landscape, steadfastly aligning with the government’s vision for a financially and digitally inclusive future. This collaboration is set to play a pivotal role in shaping the digital payments landscape, fostering financial inclusion, and contributing to sustainable economic growth in Egypt.”

Ahmed Rabea, Managing Director, EBC, said: "Our collaboration with Mastercard affirms our long-standing cooperation and aligns with our strategy to further collaboration with global payment leaders. By leveraging expertise and international reach, we look forward to paving the way for a new era of digital payments and services, and creating  innovative solutions for the benefit of millions of customers."

Adam Jones, Country General Manager, MENA Central, Mastercard added: "In this collaboration, Mastercard brings its global expertise to complement the innovative technology infrastructure that EBC has successfully developed. Together, we aim to create new solutions and use cases that capitalize on Egypt's real-time payments infrastructure, ushering in a new era of digital payment services."

Temenos today announced that it has achieved a market-leading Net Promoter Score (NPS) of +54 following a survey of over 900 customer contacts. NPS, an industry standard KPI, measures the propensity of customers to promote Temenos to prospective customers. The score is reflective of Temenos’ status as the most trusted banking platform provider and leading position in the industry driving customer success and business growth.

Trust in Temenos is built on its experience working with 3,000 banking clients, from more than 150 countries, across all segments from the very largest banks to the nimblest new challengers, helping them gain business agility and launch products faster, deliver outstanding customer experiences and scale efficiently. Banks are putting their trust in Temenos to run their mission critical business as its banking platform has proven its robustness and resilience over the years.

By delivering tangible business value, Temenos continues to grow and lead the industry, with major new customer wins in 2023 including a top-30 US bank for core modernization in the cloud, a top 20 US regional bank for core banking in its UK commercial banking operations, and the largest non-bank global B2B payments provider selecting Temenos to modernize its payments infrastructure in the cloud to name but a few.

According to the NPS survey, one of the key factors driving customers to recommend Temenos to others is its product capabilities, which have been further enhanced in the past year with innovative product developments such as the launch of Temenos Enterprise Services. These end-to-end SaaS services for retail, business and corporate banking come with over 120 pre-packaged banking products and 700 pre-configured APIs, enabling banks to deploy software solutions in just 24 hours and significantly reduce modernization costs, complexity and risk while accelerating time to value. Temenos also recently announced Leap, a new AI-powered offering that helps customers to modernize faster and to seamlessly and quickly move to the latest cloud-native Temenos technology.

Andreas Andreades, Chief Executive Officer, Temenos, said: “We continue to invest relentlessly in our cloud-native banking platform with its single code and configuration base whether this is in core, payments or digital. This means that all banks, regardless of size and segment, can take advantage of our platform now and into the future.  Our consistent strategy and focus on the banking industry has allowed us to grow our customer base to 3000 banking clients, deliver sustainable growth and profitability and be recognised by industry analysts and benchmarks as the leading banking technology provider.  This impressive NPS result reflects the trust and loyalty that customers have towards Temenos and the market leadership we have built and developed over the last 30 years and for this I would like to thank them.”

As well as generating valuable feedback from Temenos clients, the NPS survey also resulted in the planting of 650 trees as part of an ESG initiative linked to customer participation in the survey. This is part of Temenos’ wider commitment to sustainability as reflected in its position in the Dow Jones Sustainability Index and the S&P Global Sustainability Yearbook.

Temenos is consistently ranked the #1 best-selling banking software and was named the market leader across eight categories in the IBS Sales League Table 2023, including core banking, digital, and payments. Temenos was also recognized by Omdia as a market leader in Cloud-based Core Banking and Digital Banking Platforms in 2023, as well as receiving an investment grade rating from Fitch Ratings, with a Long-Term Issuer Default Rating (IDR) of ‘BBB’ with a stable outlook, and a senior unsecured rating of ‘BBB’.

Brite Payments, a leader in instant bank payments, today announced that it has joined The Payments Association EU as a Patron Member. The membership underlines Brite’s commitment to industry collaboration as it expands its product offering across Europe. 

Brite Payments enables instant account-to-account (A2A) payments and payouts, leveraging Europe’s open banking infrastructure. One of Sweden’s fastest-growing fintechs, Brite announced a $60 million fundraise in October 2023 and is expanding its presence in markets across Europe in 2024, while investing in its technology stack – most notably Brite Instant Payments Network (Brite IPN), the company’s proprietary network for processing instant payments. 

The Payments Association EU provides a forum for industry collaboration, where members can share best practices and work together to strengthen the broader payments sector. Together with its partner organisations in the UK and Asia, The Payments Association EU promotes secure, efficient, and innovative payment solutions, while safeguarding the interests of consumers and businesses. 

“Instant payments are shaking up the status quo in European payments and emerging as one of the most promising use cases for the open banking framework,” said Thibault de Barsy, Vice-Chairman & General Manager, The Payments Association EU. “Brite Payments are championing this emerging category of payments and we are thrilled to welcome them to The Payments Association EU.”

By collaborating with The Payments Association, Brite aims to support the Association's mission, as well as growing awareness of the potential of instant bank payments to address merchant pain points. In a macroeconomic environment that remains challenging, businesses are actively looking for ways to more effectively manage payments – including integrating payment methods that allow them to reduce operational costs and address fraud threats. 

“The Payments Association EU brings our industry together and advocates strongly for its members – and for the broader payments ecosystem,” said Lena Hackelöer, Founder & CEO, Brite Payments. “As instant payments gain traction across Europe, we are looking forward to playing an active role in the Association and addressing common challenges together, as well as sharing best practices on navigating the evolving regulatory landscape – this is more important than ever with PSD3 and the PSR on the horizon.”

Revolut, the financial global super app with over 35 million customers around the world, and 8+ million in the UK, has announced its latest scam data for 2023, revealing that the majority of all its reported scam cases in the UK started on Meta platforms (Facebook, Instagram, Whatsapp).

Across its UK customer base in 2023, Revolut found that 60% of all of its reported UK scam cases originated from just three sources: Facebook, Instagram, and Whatsapp. Additionally, 33% of the total value of all money lost to scams began on Meta platforms across the same period. The use of Meta platforms as the primary originator of scams is only increasing, rising from 52% of all reported cases in the UK in the first half of the year, to 66% in the six months to the end of December 2023

The stark figures showed a similar trend across Revolut’s European markets, with 61% of all EEA (European Economic Area) reported scam cases originating from Meta, and 37% of the total value of all money lost to scams, starting from the social media giant.

Type of scams

Revolut found that a range of scams were being used to con people. The two most common types were Investment Scams, where individuals are promised “get-rich-quick” opportunities in exchange for “investing” large amounts of money, and Purchase Scams where people are conned into buying items that don’t exist or aren’t as advertised. 

Revolut’s data showed that 59% of all money lost to scams came through investment scams in 2023, despite only representing 17% of the total number of cases, showing that life-changing sums of money were being lost across comparatively few cases. Conversely, Purchase Scams were the most common type of scam, representing 50% of UK scam cases across the same period, but less than 6% of the overall value lost, showing that smaller scams were more common but with lower monetary losses.

Online vs Phone scams

Revolut found that criminals preferred using the internet as a way to con people out of their money, with 86% of all scams in H2 2023 committed online, whilst scams carried out over the phone represented just 11% of all cases.

Woody Malouf, Group Head of Financial Crime at Revolut, who yesterday spoke at a Home Affairs Select Committee on fraud, said: “At Revolut, we are committed to preventing scams and saving customers' money from ruthless criminals. However, it has become increasingly clear that Meta platforms are being used as a hotbed for scams. Our data not only shows that scams are being facilitated through social media platforms, but that investment scams in particular are resulting in life changing sums of money being stolen. We urge our customers to avoid so-called “investment opportunities'' promoted through such platforms. If it looks too good to be true, it probably is.

“We are fully determined to protect our customers as best we can through our fraud prevention technologies, but there is no denying that this is an issue that also needs to be tackled at source to have any hope of being beaten. 

“Banks and financial institutions should be the last line of defence, not the only line of defence.”

Revolut takes fraud and the industry-wide risk of customers being scammed by organised criminals, very seriously. Protected by a 2,500-strong, 24/7 dedicated team, Revolut saved its customers more than £200m in potentially fraudulent transactions in 2022 alone. Revolut has robust protections in place for its millions of customers and analyses over half a billion transactions each month. Its security features include AI models, trained anti-financial crime professionals and experienced data scientists. Where it detects signs of fraud, it intervenes and investigates, and where customers do sadly fall victim to fraud despite our interventions, Revolut has front-line staff on hand 24/7 to provide support via Revolut’s secure in-APP Chat. 

Please note, Revolut will never call any customer without first contacting them via the in-app Chat.

Sabre Corporation, a leading software and technology provider that powers the global travel industry, and Revolut, a global fintech company that offers banking services, announced today the successful results of their partnership, which is propelling the B2B payments process for travel agencies.

The two tech companies were able to onboard over 40 customers in less than a year and together are changing the financial landscape for travel agencies. Revolut’s virtual cards are now generated within the Sabre Virtual Payments platform, allowing customers to easily pay airlines, hotels and other travel suppliers with enhanced flexibility and security. This allows travel agencies using Sabre Virtual Payments to enjoy more streamlined and agile practices, personalization and speed to market.

“Bringing the virtual payments solutions that our travel agencies value and need is a strategic focus area and always a top priority for us, and we are thrilled to see that this partnership is doing exactly that. I’m very proud of the great collaboration between our Sabre Virtual Payments team and Revolut, especially when it comes to implementation times, addressing operational efficiency and cross-border B2B payments needs for our customers,” said Celia Pereiro, Managing Director of Payments at Sabre.

Some of the pain points this partnership is helping solve for Sabre-connected agencies using Sabre Virtual Payments include:

• Rapid onboarding process that was reduced from months to just days, allowing customers to start transacting and paying suppliers swiftly and efficiently.
• Seamless integration of a flexible and secure virtual card technology into their existing workflows.
   
• Access to a comprehensive suite of commercial card products that improve payment acceptance rates.
• Preferential rates in the conversion of one country’s currency into another and real-time insights through a streamlined Foreign Exchange (FX) management, providing them with unparalleled transparency and visibility across international payments while facilitating informed decision-making.
• Allow the agencies to provide a better experience for travel suppliers, who now can get paid on time in their preferred currency, using negotiated payment acceptance rates.

“Revolut is excited to drive digitalization in the travel sector alongside our partners at Sabre. Together, we are streamlining transactions through our suite of virtual cards, real-time foreign exchange and API-based payment products. We brought our joint offering to dozens of businesses this year, and we look forward to delivering even more value to customers in 2024,” said Will Hannan, Global Head of Embedded Finance Sales for Revolut.

According to Future Market Insights, virtual cards market is predicted to reach a worth of US$ 1.3 trillion by 2032, with 12.2% projected growth between 2022 and 2032. The main drivers of this growth are the increasing adoption of API virtual card issuing platforms, the demand for secure and convenient payment solutions, and the growing penetration of smartphones and e-commerce.

Through its innovative platform, Sabre Virtual Payments facilitates a single point of integration between travel agencies, Revolut and various booking tools. It automates payment reconciliation and delivers comprehensive payment data reporting to offer secured and fully integrated end-to-end payment services.

MoneyGram International, Inc., a leading global financial technology company that connects the world's communities, is pleased to announce four strategic appointments to its senior management team, responsible for the acceleration of the Company's global digital strategy. These new leaders will partner closely with the Executive Leadership Team and report directly to Seth Ross, MoneyGram Chief Digital Officer.

Bringing decades of digital expertise to MoneyGram, the new leaders will help oversee the next level of digital growth for the Company, focusing on four strategic areas: MoneyGram Online (Edwina Johnson); MoneyGram Business (Arnoldo Reyes); Pricing Strategy (Vijay Raman); and Payments and Product Partnerships (Mike Tekulve).

"It's been a privilege to join the incredible team at MoneyGram amidst a remarkable digital transformation, and I'm extremely proud of the success we've achieved through our digital strategy to date," said Ross. "With the addition of these new leaders, we gain critical capacity to expand our digital business, reach aggressive growth goals and solidify our position as the global fintech that connects the world's communities. I am thrilled to have this experienced group on board with us for this journey."

Accelerating Direct-to-Consumer Digital Business

Edwina Johnson, MoneyGram Online International

MoneyGram is committed to the global expansion of MoneyGram Online ("MGO"), the Company's leading direct-to-consumer digital business, as the channel has proven to be an important growth driver, delivering consistent, double-digit revenue increases and improving customer loyalty to the MoneyGram Brand. With more than 15 years of experience in the technology start-up space, Johnson will lead the team responsible for driving international growth for MGO, partnering with the team accelerating the channel in the US and Canada.

Building on Leadership Position in B2B Cross-Border Payments

Arnoldo Reyes, MoneyGram Business
Reyes will utilize his 20 years of payments experience at companies like Visa, PayPal and Mastercard to lead and execute the strategy behind MoneyGram Business ("MGB"), the Company's B2B division. MGB offers enterprise customers the opportunity to connect to one of the only globally scaled money movement platforms, operating across more than 200 countries and territories with a network of over 5 billion digital endpoints and 440,000 agent locations. Through a set of world-class REST APIs, easy-to-use developer portal, and integration and onboarding, MGB helps clients set up payment solutions in weeks, not months.

Outpacing the Industry with Unparalleled Pricing Capabilities

Vijay Raman, Pricing Strategy 
Raman will lead a team dedicated to driving industry-leading pricing capabilities and revenue enhancements. A veteran leader in revenue management and pricing strategies at companies like American Airlines and Spirit Airlines, Raman has more than 20 years of experience in optimizing business strategy and technology to spur revenue growth and profitability.  

Building the MoneyGram Payments Ecosystem

Mike Tekulve, Payments and Product Partnerships 
Tekulve brings more than two decades of experience in financial technology with industry leaders such as Green Dot and Discover Financial Services. In his new role with MoneyGram, he will leverage his deep strategic expertise in fintech and payments to grow the Company's consumer financial service offerings and enhance its integration into the global digital payments ecosystem.