NatWest has announced that, from today, it aims to provide an additional £1billion in lending to the UK Manufacturing sector by the end of 2030, aiming to stimulate growth in the sector and help manufacturers invest in cleaner, more efficient forms of energy generation and use, with lending deployed through loans, asset finance, and overdrafts.

The assets, activities, companies which are eligible for this £1 billion lending are those aligned with NatWest Group’s Climate and Sustainable Funding and Financing Inclusion Criteria.

Manufacturing in the UK is responsible for nearly 10% of total economic output and over 8% of all employment in the UK. However, it is a significant contributor to greenhouse gas emissions, with over 12% of the UK total attributed to the sector. With the industry likely to remain energy-intensive, NatWest is aiming to offer support those in the sector that includes lending, partnerships and tailored financial advice.

The bank is also partnering with Warwick Manufacturing Group (WMG) to pilot with customers the opportunity to join their Business Energy Aid Toolkit programme, which identifies the energy use involved in their business’ processes and production. The programme then recommends actions to reduce emissions, alongside estimates of the impact these would have on overall emissions. Businesses that have completed the programme to date have seen minimum energy savings of 12%, with an average saving of 21%.

The bank also offers its free Carbon Planner tool, which allows businesses to measure their carbon footprint and build a plan to reduce their emissions on a simple online portal.

Alison Rose DBE, Chief Executive, NatWest Group and Co-chair of UK Energy Efficiency Task Force said:

“NatWest is proud to be a leading bank for UK business and a major supporter of the Manufacturing sector across the country. Manufacturing is a significant contributor to both the economy and UK carbon emissions, and so it’s important that businesses in this sector are supported to transition to cleaner, more sustainable operations in a positive way, where the benefits outweigh the costs. That’s why we aim to provide an additional £1billion of lending to the Manufacturing sector, to help businesses in transitioning to a net-zero economy.

As part of my role on the UK Energy Efficiency Task Force, it has become clear that the best way of delivering change at scale is through public and private sectors working together. For NatWest, that starts with helping businesses move forward in an informed and supported way.”

Professor David Greenwood, CEO of WMG centre High Value Manufacturing Catapult, University of Warwick comments:

The UK has committed to reduce total energy demand by 15%, from 2021 levels, by 2030. UK manufacturers are continuing to experience prohibitively high energy costs which significantly effects their ability to be competitive in global markets.  In partnership with NatWest, WMG are helping UK manufacturing to deliver both economic benefits as well as environmental benefits as we move forwards this critical objective.  The BEAT (Business Energy Action Toolkit) programme is already supporting small and medium-sized manufacturers take control of their energy costs, make better decisions, and maintain or increase profitability.

The announcement comes as NatWest holds its first Regional Growth Conference today at Wolverhampton’s Molineux Stadium, bringing together over 250 business leaders, policymakers and experts to help drive growth, collaboration and investment in the West Midlands.

The world of cryptocurrency is rapidly evolving, and the need for reliable, secure, and compliant solutions for managing digital assets has become more important than ever. Ledgible and Finoa have joined forces to create an API integration that will allow institutional investors to seamlessly access and manage their crypto assets, further expanding the reach and capabilities of both platforms.

What is Ledgible?

Ledgible is an accounting and portfolio tracking platform designed specifically for crypto assets. It is an AICPA SOC 1 & 2 Type 2 assured platform that provides tax reporting, accounting, and portfolio tracking services to professionals, enterprises, and consumers. Ledgible's platform is used by leading accounting firms, institutions, and major crypto companies globally to access digital asset data, tax information reporting, and tax and accounting solutions at scale.

What is FINOA?

Finoa is a European crypto asset custodian offering institutional investors a full range of crypto services including custody, brokerage, and staking. It provides a secure and intuitive platform to store and manage digital assets, regardless of the user's familiarity with cryptocurrency. The company is licensed by BaFin and serves high-profile clients, including venture capital firms, crypto hedge funds, Web3 companies, and professional investors from around the world.

What does the Ledgible and FINOA API integration mean for the crypto ecosystem/industry?

The API integration between Ledgible and FINOA is a significant development for the crypto industry, particularly for institutional investors. It means that these investors can now manage their digital assets on both platforms without any hassle. They can view their holdings, track their transactions, and generate tax reports from a single interface.

This integration provides institutional investors with an efficient and effective way to manage their crypto assets, enabling them to make more informed investment decisions. It also streamlines their workflow by reducing the need for manual data entry and reconciliation.

Furthermore, this integration underscores the growing importance of compliance and regulatory requirements in the cryptocurrency space. Both Ledgible and FINOA are committed to maintaining the highest standards of security, transparency, and compliance, which is essential for institutional investors who are looking to invest in cryptocurrency.

In conclusion, the API integration between Ledgible and FINOA is a significant step forward for the crypto industry, empowering institutional investors with the tools they need to manage their digital assets securely, efficiently, and in compliance with regulatory requirements. As the crypto ecosystem continues to evolve, collaborations like this will undoubtedly play a crucial role in shaping its future.

Polymesh, the leader in public-permissioned blockchain, announced today its integration into the ecosystem of NayaOne, a leading digital transformation platform for the financial services industry. This integration provides exciting opportunities for financial institutions to effectively and efficiently leverage the benefits of blockchain technology and build innovative products tailored to their unique needs. 

Polymesh is a highly secure and regulatory-focused blockchain platform designed specifically for the financial services industry. By joining the NayaOne network, Polymesh gains access to a wide range of financial institutions seeking to embrace the potential of blockchain technology.

With the integration of Polymesh, financial institutions using NayaOne can deploy and launch Polymesh nodes within days. The NayaOne Sandbox is used for rapid experimentation in areas such as asset tokenization, fraud, compliance, and decentralized finance (DeFi). With its robust platform, NayaOne simplifies technical complexities, fosters cross-functional collaboration, and streamlines how FIs can partner with leading-edge technologies in a matter of weeks. Access to innovative blockchain solutions including Polymesh through NayaOne will improve efficiency, reduce costs, and increase liquidity, especially with the digital assets projected market capital expected to grow to 16 Trillion USD by 2030.

Graeme Moore, Head of Tokenization at Polymesh Association –
"We're thrilled to work with NayaOne based on their tremendous track record of helping the world's largest financial institutions test and go-to-market with new technology solutions. Polymesh has an exciting offering for anyone looking to experiment with tokenization and NayaOne can ensure it is seen by the right people at the right organizations." 

Karan Jain, CEO, NayaOne –  

“It is fantastic to welcome Polymesh into our network to facilitate digital asset innovation throughout our financial services ecosystem enabling hundreds of banks to experiment with digital asset tokenization on blockchain effectively and efficiently.” 

NYMBUS®, a premier provider of cutting-edge financial technology solutions, is proud to announce the completion of its Series D funding round of $70 million, made up of new and repeat investors. This round was led by global software investor Insight Partners and bolstered by additional investments from Nymbus clients ConnectOne Bank and PeoplesBank, alongside financial technology investors, The Banc Funds Company and Mendon Venture Partners. The announcement comes on the heels of a previous announcement of strategic investments from Curql Collective, a Credit Union Service Organization (CUSO) driving financial technology innovation for credit unions, via its flagship Curql Fund and Reseda Group, a wholly owned CUSO of MSU Federal Credit Union (MSUFCU), a Nymbus client.

In conjunction with FT Partners’ advisory role in the funding round, the capital infusion will empower Nymbus to expedite the expansion and advancement of its modern core system and diverse product portfolio.

“Financial institutions must pivot from traditional revenue models and seize novel opportunities to drive growth in the swiftly shifting financial landscape. Nymbus offers the necessary products and services for these organizations to secure a competitive edge,” stated Peter Sobiloff, Managing Director, Insight Partners. “By shattering the norm, Nymbus’ pioneering approach to niche banking establishes the industry benchmark, concurrently innovating with flexible solutions to deliver enduring value for banks and credit unions. We look forward to endorsing their future ventures in these fields.”

As a reliable ally for banks and credit unions, Nymbus is dedicated to breaking down barriers to growth and providing leading-edge solutions and support. “This latest round of financing positions the company to double down on our mission of bringing new thinking to financial institutions to help them thrive in an ever-evolving market,” said Jeffery Kendall, Chairman and CEO of Nymbus. “These strategic investments are a testament to the confidence in Nymbus’ ability to transform the financial services industry by modernizing outdated legacy systems with proven technology and business models that result in growth for our current and future clients.”

“We believe in the power of modernization and see our investment in Nymbus as a step towards shaping the future of banking. Nymbus’ cutting-edge solutions and strategic approach align with our mission to provide superior financial services while adapting to the evolving needs of our customers,” said Brian Canina, Chief Operating Officer and Chief Financial Officer of PeoplesBank.

This funding milestone underscores NYMBUS’ role as a frontrunner in the fintech arena. “Forward-thinking innovation and partnership are integral to our philosophy, and Nymbus embodies these values. By investing in Nymbus, we endorse a company that resonates with our ethos, and supports our mission of delivering modern financial services,” declared Siya Vansia, ConnectOne Bank’s Chief Brand & Innovation Officer.

“Nymbus is uniquely positioned to further modernize the banking and financial services landscape given its cloud-based solutions, innovative technology and in-depth knowledge of products and services. We’re thrilled to invest in this company, its leadership, and team,” stated Anton Schutz, Founder and Managing Partner of Mendon Venture Partners. Charles J. Moore, President of The Banc Funds Company, added, “Through our investment in Nymbus, we are helping to shape the future of the industry and driving meaningful impact.”

With steadfast support from partners and clients, Nymbus is poised to redefine the future of financial services, fostering growth and creating unparalleled value for all stakeholders.

Multi-asset broker Vantage (or "Vantage Markets") has unveiled Vantage Rewards, a new loyalty programme*, enabling Vantage clients to receive rewards for their commitment to trading with the company.

The rewards program is aligned with Vantage’s corporate value of putting clients first and is open to both new and existing live and funded account holders in eligible jurisdictions*.

Vantage Rewards is built upon a point-based loyalty program where clients receive points based on the total notional volume of their closed trades and by performing pre-determined account activities. These accumulated points can be redeemed for various rewards, including cash redemption, loss protection vouchers, deposit rebate vouchers, profit booster vouchers, wheel of fortune spins, lucky draw tickets, and other exclusive perks.

In addition, clients will be assigned a tier based on the total notional volume traded to date. The higher the tier (Bronze, Silver, Gold, Platinum), the more points and benefits clients can receive and enjoy.

"At Vantage, we recognise that our success is closely intertwined with the trading experience and the long-term success of our clients. This is why we are dedicated to creating a trading environment that fulfils both," said Marc Despallieres, Chief Strategy and Trading Officer, Vantage. "Vantage Rewards is a game changer for the industry, because we are going beyond providing a trading platform, to offering a rewards programme from which our clients can benefit.”

“The Vantage Rewards programme is our way of thanking our clients for choosing us as their trading partner and entrusting us with their investments. Our team will continue to add new exclusive rewards and trading benefits for our clients, to make Vantage their broker of choice," adds Despallieres.

PayTrace, a leader in B2B payments technology, welcomes Jason Rivera as Vice President of Sales. Rivera brings a wealth of sales experience in the payments industry, broadening our skillset and opening new opportunities for PayTrace to expand. 

Rivera served in both National Sales Manager and Vice President roles prior to joining PayTrace. His record of growing e-commerce merchants, building strong teams, and constantly pursuing leadership growth were clear standout talents that will blend well with PayTrace’s established sales team. 

“I’m looking forward to implementing and improving sales processes while building a strong sales culture that utilizes each team member's strengths,” Rivera said. “I’m genuinely impressed by the level of talent currently in place. Every member of the team is ready for growth.”

Now in a transformative year following its acquisition in late 2021, PayTrace continues to expand its strong foundation of B2B payments excellence. Through its partnership with North American Bancard, PayTrace aims to invest more in technology, enhance the company’s presence in key B2B market verticals, and grow its partner and ISV communities. New product development and system enhancements are already making an impact for merchants using its platform.

“Having Jason on our team is a game-changer for PayTrace,” said PayTrace President Greg Castro. “Our teams are already growing from his wealth of experience in payments, understanding of team dynamics, and his knowledge of partner needs in the market.”

PensionBee, a leading online pension provider, has made it possible for more savers to move their pensions quickly and efficiently with the adoption of an additional transfer service. 

ViaNova is an industry working group that sets consistent open standards across fund providers, pension providers and platforms to allow automated pension transfers at super-fast speed. The use of open standards gives users permission to copy, distribute and use technology freely or at a low cost to improve the experience of consumers.

PensionBee has repeatedly led calls for a 10-day pension switch guarantee, which would ensure switching providers is a quick, efficient and secure process which happens electronically within 10 days. The provider has completed hundreds of thousands of electronic transfers since joining Origo, a private online transfer service, in 2016.

PensionBee is now adopting ViaNova open transfer standards to promote faster electronic pension transfers with a number of pension providers and third-party administrators including Fidelity, Hargreaves Lansdown and Willis Towers Watson. 

Leading pension software developer Equisoft will provide the back-office system that will give PensionBee the capability to complete transfers through ViaNova. Since recently implementing Equisoft, the average time taken for the relevant transfers from request to completion with PensionBee, has reduced from 53 to 20 days, marking a significant improvement in transfer efficiency. 

Romi Savova, CEO at PensionBee said: “Consumers deserve to have an efficient pension transfer process, free from long delays or complications, so they can have direct control over their retirement savings.

A wider adoption of open standards across the pension industry is an essential step in accelerating the shift to a necessary common digital infrastructure for pension transfers, which will benefit millions of consumers across the UK.

However, self-regulation is not enough and we once again call on regulators to implement a 10-day Pension Switch Guarantee, a time frame the Financial Ombudsman Service is already independently enforcing. This is essential to help restore confidence and trust in the pension system, allowing consumers to take control of their financial future and plan ahead for a happy retirement.”

Andy Hussey, Co-chair of ViaNova said: “The objective of ViaNova has always been to facilitate the automated procession of pension transfers by creating open data standards available to everyone who works in our industry in order that they can better serve their clients.

 We support these with the TEX legal standards so that all sides can have comfort that the transfer has a solid and shared legal basis. PensionBee works hard on behalf of the UK’s pension holders, and we are extremely pleased that we can be part of their journey to allow people to better take control of their pensions.”

Nick Meredith, UK Products Director of Equisoft said: “Open standards are critical to allow the easy transfer of pensions across providers. As a software business, we work with many pension providers and platforms to help them transfer data and ultimately customer assets more easily. 

Our software aligns to the ViaNova standards because we believe their approach is right for industry firms and customers alike.”

Provenir, a global leader in data and AI-powered risk decisioning software, today announced it has successfully completed the Service Organizational Control (SOC) 2 Type 1 audit.

Developed by the American Institute of CPAs (AICPA), SOC 2 defines criteria for managing customer data based on security, availability, processing integrity, confidentiality and privacy. The Type 2 audit reviews a vendor’s systems and if its design meets these relevant trust principles.

The audit affirms that Provenir’s information security practices, policies, procedures and operations meet rigorous SOC 2 standards for security, availability and confidentiality. This independent validation attests to the strict internal controls Provenir has in place to protect user’s data in a highly regulated industry.

“Achieving SOC 2 certification, along with our ISO 27001 Information Security Management System certification, reinforces Provenir’s commitment to the protection and safeguarding of data across our products,” said Claire Hartley, Provenir Chief Compliance Officer and Data Protection Officer. “Our commitment to and investment in data security and compliance demonstrates to our customers that data protection is our highest priority.”

Earlier this year, Provenir announced ISO/IEC 27001 certification, which provides evidence to a company’s consumers, investors, and other interested parties that the organization is managing information security according to international best practices.

Provenir makes accessing data fast and easy. Through a single API, Provenir brings together a curated range of data and data solutions to enable businesses to make smarter decisions across identity, fraud and credit. This allows users to experience simplified data access, fully managed integrations providing access to a wide variety of traditional and alternative data, and insights to make smarter decisions across the whole customer lifecycle.

Flutterwave, Africa’s leading payments technology company, today announced that Flutterwave CEO Olugbenga ‘GB’ Agboola has been selected to join the Wall Street Journal (WSJ) CEO Council. The members of the CEO Council, which currently comprise 350 CEOs, lead companies that collectively employ more than 11 million people, generate over $4.48 trillion in annual revenue and represent 28 countries across a wide spectrum of industries.

GB’s membership of this Council provides a unique opportunity to hear and share perspectives on emerging economies, payments and global fintech in conversations with leaders of the world’s most influential and iconic companies.

GB has been instrumental in driving the development of Fintech solutions for several organizations and financial institutions such as PayPal, Standard Bank and Google, amongst others. His previous Fintech venture focused on easier and non-card methods of making payments and was acquired by a top bank in Nigeria.

GB's educational background includes the Massachusetts Institute of Technology, the Wharton School of Management and the University of Westminster. He has been named African Leadership Magazine's Young Business Leader of The Year (2020). He has been recognized for his achievements in leadership and innovation by Fortune Magazine's prestigious 40 under 40 lists and Time Magazine’s 2021 Next 100 list, respectively. He is a 2023 graduate of the acclaimed Advanced Management Program of the Columbia Business School.

In October 2022, GB was conferred with the National Honor, Officer of the Order of the Niger, by President Muhammadu Buhari of the Federal Republic of Nigeria.

“As Flutterwave continues to innovate and provide payments infrastructure in Africa and beyond, it is an honor to join the ranks of WSJ’s esteemed CEO Council, an important platform for thought leadership and the exchange of ideas,” said Flutterwave CEO Olugbenga ‘GB’ Agboola. “Flutterwave’s work is an example of the transformative power of financial technology, and I look forward to bringing my perspective as the company’s CEO to the Council.”

Other members of the Council include: Ebenezer Onyeagwu, Group Managing Director and CEO, Zenith Bank, Satya Nadella, CEO Microsoft, Börje Ekholm, President and CEO at Ericsson, Allan Thygesen, CEO, Docusign, Todd Boehly, Chairman and CEO, Eldridge, Arvind Krishna, CEO, IBM etc . 

Earlier in 2023, Flutterwave CFO Oneal Bhambani joined the Wall Street Journal’s CFO Network. See here for a 2022 Flutterwave Year in Review by Agboola.